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<br /> - ` �,pY�iaest d Prl�ipd,Iahrest and��a�te�Borga Sarmwer shali pay wlxx�duc tl�e pdndpal o�at�inteiest an.,,
<br /> --� 'the debt evi�nced,by ttre Nou snd iate cbanges.due artd�a tite Note. ;
<br /> 2. MAntbt9 P!ymmRs a�'!��►r°s�m�e�amC(ItAec E�ar� Bormwer shalI iadudc�ia each momblF PsY��;
<br /> ongether wiah the prmcip�i aad imresest as set:fia�sEt in the Naoc aad wy[ue d�atges.an instailment of ang(a}taxes a�f�.
<br /> �_� spa�al as�smenffi Ievud or to Ue fevicd�againsr.thc L�raPe�tY.(b)laasehotd payrmeats or gmund t+c�ts oa tfisc Qcaperty.and; � -
<br /> A� (c)�for iasurancs tcquic��by PA�stgrapb:4:
<br /> F.�cb maathiy iustallma�t for itcma ta):.@)and(s)s3mU cquai.an�twelRb of th�annual amawnts.as nasanabiy�,
<br /> = estimated hY I�er#r, pius an a�rtaunt s�'icienr to muintain aa sddiaonal balanoe of nat more thaa or�xth of tBe; _
<br /> = esdnsated�mounts. The futt°maiuWi anmunt.for.exh item sbat!be aca�lste�by Lsnd$s'"wlfl�a a periad tn�ag o��. � . ._
<br /> month befo��ite�woaid tiecamc d�ltnqueax Leadcr shnll hold d►e amamus coUected in Uust ro pay iLems ta).(b)end`: �.
<br /> : ` (c)6efore they becrome dsttnq�tenti. ` �'
<br /> . �. If as a�r time the tnmi'.af tfie•paYenents•Heid by Lender for items(a).lb)and(c).tagetl�er with the fudue monibl��� ��;'�
<br /> ti o -
<br />_ . pay�for such iums paynhl�fi,o�T.ender�ior to the due d3tes of such items,e�cce�ds by more than one-sixtt�tt�e.: �'---.—
<br /> � •
<br /> • Y;, estnmated amouac of payme�t��a'm:pay such itertes when due,and if paymenu on t6e Note are c�t�e»I.ertQer: , —_
<br /> .. -� ti, s1�Ii either tefQnd ti�exca�aavai en�-si�t8 of ths-estimated pa ts�credit the exoess aver aae-sixt�af the estfmate�% �_-
<br /> n '�'
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<br /> - :t:; �to subsequent paymertts,t3y.•Bnmawer,at the aption o Borrower. If the totaf af the payments made 6y Bamawer: ��=-.---s�
<br /> - fos item ta1,N).or(c)is u►s�t8iacnt:tn�pay.the iiem when due,theu Borrower shall pay to�:e�der miy amnum necessaty tn� � --
<br /> � _ mai�e u�r8�e defcdency,un.4�tiefm8 the date thc item beco�ttes due. ; `-
<br /> _ As useQ in this.S��f�m�"Secceu+IY"means the Sed�etary af Housing and�ttian Developme,r�t or Lis ar her� _ :': . r .���y=
<br /> " "� designee. In any y;e�a�ainwhiatl,dic Eendcrmust pay a mortgage insurm�ce premium m the Secre�aty:each m�tY paYment: --����'�' _
<br /> . �� .��._
<br /> ;�`� shall aiso include eidier,: (f};an�ins�ultmertt=af.the annuW mortgage insurance premiutp.�a�be paid by. Lendes ta the. .•,._,�R_._�
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<br /> <, Secretary,or(ii)a mamlily�.chu�e instead o f a mortgaSe insutanc e p r e m i u m i f t h i s S e�u r i.ty I n m u t n��s 6 e I d b y thc`; ��..s, �°�`,�rs�,
<br /> ,:4��� � Sccntazy. Each monshly iitistallme�tafi the man�+ge inseuaace premiurrt shall be in an amautit�&c9eat to�ulate the: � _- -_
<br /> `�!�� full ann�al mortgage ircmiYpnce�n�miiun with Lender ane manth prior to the datc th�;�ud}�uival fnrtgage msv:ance � -
<br /> � shali 6e in an�= ,'
<br /> �t: `: pzemium is due to!he Se�ccsta►y;.ar�this Security Instmment is held b�r ttsc SecretarY.e2idi ina�ly charBe :`.:�'.-
<br /> ' - ' amoant equal w one-twelNi'bf ane-�i�if Re�eat mf the autsta�edirtg psinnpai balance due on 6e�iate."
<br /> . �`.. If Botrower tenders to�.J:ender•the full payr�cent of all sums secumd hy this S�urity'�strument,�Sormwer�s account•: `; �-'�•
<br /> , �:-u% sdaU be ctedited with tt�¢•balhnce iemaining fe�all inst�Qments for items(a),N)aud_(C)•aitd any martgage insittance
<br /> ��, . premium installmeat ttwt��tdcr has nat Ix�ame abltgated oo�y to the Secretary.and l:c�ider shall promptly tefund any ��.� ..�(��, �.�---
<br /> . '_�."•.�_ ,}`E ' excess fnnds to Hmr+uwer..Immcdiutely.priar to a faieclasure�':e of the Ptoperty or its ucquisition by Leuder.Boirov�es�s� .
<br />�,-� 'r {;,� '` :�` +s . aceount st�all b�ascditCd�witt��any,�8altaree remuining for all installrrtentq for items ta�(1►).snd(c). ` . ��-
<br /> � � ,� y� � �. , • 3. App�atrm�tPayments. A11 payments under Paragraphs t and 2 st�a11 b� Ii�tt� Lesideras faIlows:
<br /> .�-.y:�°` ._., ... - �t�,to tt�e mar�gu$R mswanee ptemium to be paid by Lender to the Seccetary�or to tha monthly clr�ge by the , ��.
<br /> - :;:������'��r. ,.,'.. . Seccetar�'insfead"uf ttla monthly,martgage insurance pnmwm; : . � : , .
<br /> �, i 4, SECOND.to auy�tiu�es,s�eciul'u�sessments.leasehold payment`or ground�ents.anS�'fitc�flaod aiid other hazard
<br />' . .:7 h.clyi�k7��� �1 �S . � ��'
<br /> :.' ;;E`s:���`t�F�F t� NSU�WICC pILRI�l{�f,aSt�LL{�UICCC�- ' � -. . . �V-?_
<br /> .. r ' s'���.•r, ,� . 7'HiRD•coime�iastdu�uttaertheIrFote;_ . , � '4'-�`---
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<br /> ,,C,�:��..;�`�,s r IFOi Kf'H,to ainart�atitin of the prineipal af tde Note: ' '`,��—•:
<br /> �,:•�. : . , .
<br />� '• ..��,_ �,to late cfiarg�duc under ihe Note. ^�
<br /> ��'w-��'��' � ' 4. Ftre.Fiood and Ofhe�'Nttzard�insurance. Borrower sha11 insure all improvement�an the Prap3ty.whetfier now , .� ,,..=
<br /> -�r:y;RF.t, . , . —
<br /> _ `,.�.t��'`:.;s;°r... ia eais�ence ur subaequently ereetedl a8�nn�y hazards.casualties.and contingencic�.in�luding fire.for which Lender �. �.
<br /> _.. ���t..;.r.. P� � -- , 3.,�,F'�, C :
<br /> ,, •.��,�,,, . �q�,�;�sur�nce. This insumnce shull�be maintained in the�oun�s and for the rio�s thal l-ender r oices. Eom3wer n::���E.: ;•.�•;�
<br /> •. 't.��<'''�'; ;,.. sha1:ai�o insure al!'tmpmv�smente aa ths Praperty,whether now•in existertce or subsequei»Iy:esected.aSainst loss ls���tiacsas ,;�.;;�k,� . ;�,6•
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<br /> � ,,.�.,., • ... + .. . to the excenl requit�ad�by�thoSectetnry: All insuranc�shall be carried with companies approved by Len�er. 'f'he insuiance � � �-�1+.�:.. �,��;=:.
<br /> • ��'%' � '��'�,� policies and any ranaw�ls shn11�be hcld by Lender and shull iaclade toss payable cl�uses in favor af. and in s►farm E• , • 'i;�t`
<br /> . •.�'� ' `. ,. �s,.,;`':.• acceptable to.Lender. � , .� , '
<br /> :�f�',�,,,��,;.� `.� �,.;
<br /> � � '�.. �:�r t.�;:•� , in the event of Ioss,Bbrrow�r shull�give l.ender immediate notice by mail. Lend�r may make proof of toss lf not ::, _ `
<br /> , . �e�s : �;,'�s:,�;:,r�j` � :i;,,.i. -
<br /> ��s,;�� ,:: made pramptly by Borrawer. F.c{ch insurance campany concemed is hereby authori�ed an�directed to make payment far �
<br /> -....�� ���'��';_�'? �• suc h 1oss di r e c t ly to L e n d e r,i n s t e a d o f t o 8 o r rawer and to Lender jointl y. All ar any part af the insurance proceeds muy bc f - �`r��,{`kC' •'�•���;'
<br /> b
<br /> '' �'S�°''��• •` � applied hy l.ender,at its oprion,eithsr(a)to tha reductian af thc indebtedRess under the Kole and this Secanty[nstrumen� i � � `�f%�
<br /> `�`.•:�'.. :!'+`':'� •��•t frst to any delinc�nent amounu upplied�in�ttta order in Para�rapb 3,and then to prepa�,msnt of principal.or lb)ta the j , .`�:F_
<br /> �"` ' �:,:.;- � '"s`' restorauon or repa�r of tho damage,tt pmpe»y. Any applIcatian af the proceeds to the prin:�+a1 shall n�:e�tend or pc�stpone � • � ��`•�;'
<br /> ��`' �' •`� ' the due date of the monthly papments wti�rh�are refarred to in Paragraph 2.or change ths Fmount af�paymenis. Any �� .. , .
<br /> .,r� , i',!�;�,,�, � ; .
<br /> • '`�/'�`��'r' exc�.��insurance proceed.q o�er an•amaum�r�eyuired ta puy a!t autslartdmg�ndebtedne�.s un3�r the�o;e and t6is 5exurity . ,
<br /> . .��'' '`,:;y{;!<l�`�'r insr+unent shall be pald to the entity.lagall�entitt�d Ihereto. • ` _ .. .,;
<br /> �_ t'` In the event of foteclosu[e nf this 5ecurity]nstnimen��oF othcr transfer of titte to th�o.['raperty�tlt�z'extinguisfies the �.
<br /> �;�;i�,�;�;�' :�..� '.. indebtedness,all riglttc�itle and interest ai'Bocrow�r i»and ta in4urance policies in force ShGil pays to�tfi�g:scheser. � . . ���.
<br /> :�,.�:
<br /> . �•���,, ; .�'. S. Occupancy. Presen�atlan, Muinteaa�e and Protectian ot tne Praperty; Qurrower� Lau.� Apglicntion: � •,'t�.
<br /> �:;,� Leaseholds. Borrower sha11 areupy.e5tnbll�h. and uso the Properiy as gorrowcr's prirt:ipal residerrcz withln sixiy days , •
<br /> � 1�`�`''�y', after the execution of this Security.tn�ttumenl arrd shstll anntiouc ta uccupy ihe Property:�Hnrrowcr i:principa!residence • _
<br /> ,� 't,i;{;y:ie: ' . ,
<br /> � . , .���s;;�, for at least one year after the dutc of occupuncy.untC�s the 5ecretary determines this reyuirement�vill cause undue huNship �
<br /> ' '���� for Horrower, or unle�s extenuating riraurtistutfCes exitit which a�c t►cyc+nd Barrawcr's rontrol. Barrower �hull natify j ,
<br /> � � l.enders of any extenuating circumslances. Borrativor shuli nut commit waste or destroy,dnm�ge ar substantlnlly change � ,
<br /> ' .. ' the Prope�ty or allow the Pcoperty tn detvriar.uc.reasnnuble�vear and teur excepted. Lender muy tn�pect th�Property if the ; •
<br /> � •� ��,�, p�operiy is vacant or ubandaned o►the loamis in dcfaul6 Lemhr muy take rea�onabte ar�ian w prutect and prescrve such .. .
<br /> . , i•'�,...:, .
<br /> ;.:yt,•,�{,l,r:,�:. . � vacant or abandoned Property. Bnrco�vot shull silt���e in dePault if Borrc>wer,during th� loan upplicatinn proce�.ti,gave
<br /> i;_..;,�;!•�.;;?:,<,.• • materially fatse or inaccurate ini'artnation or stutement� co I.endcr (ar failed tn p:r+vidr l.endcr with s�ny ntateds�l i .
<br /> �,�'::j�';•;:•; • informat�on)in connection with thr luun evidCnced by thr�7te.includirt}�,but not limi�ul to.represent7tions canceming •
<br /> �' �%'-;!`''•'•� Bortowers accwpxricti of the�vp�rty as a principal ta�idence. IP thi�Security M�trumcnt i�an a lr7sehnid.Batro�vrr shall .
<br /> � � , + comply with the.�r�:�����flns•4f i'fie l�ase, lY Butso�var ucquims fee tille to ti-�PropcAy,thc tcaschuld and fee tillc shall not ;
<br /> bc merged unless C.��G•:��asa:�te•1be merger�in writin�.
<br /> ��'''�'���'-�;��� � 6. Chuges to Borr�µei�rnd Prutectton oP�l:endcr'!c Eti�;hts in Ihr�rupertS: BoTi��vcr�hatl.pay s�11�;ovGmmemnl � . t..,.'�
<br /> �,` . .,,:. o:�m���r,h�ll a th�se ohU+ tions nn � ;. :, .
<br /> � rr, t=,•:�(., .
<br /> ,ti:�1,::, o r m u n i c l p a l char ges.fine�an�tim positians ths�t�t�ns nut�ittcluded in P.ua�raph 2. H p'Y !y . ,.
<br /> time directly to the entity which is owed Ihe ptrymenti If f:iilure tu pay wuu l d a d��r�:If s f frc� L e n de r�i n t c r e�F i�c h e , �,.,;;`?;
<br /> . Roperty,upon Lertder's reyuest 8urtower sfiall�ptuntpily N�mitih tu l.ender receipls eviu:a�:ng th�«.�sr�nenls. ,.•,,;...�, •
<br /> • If Borrower fails ta make these p�iyment�+ar�Qia puymc�us nquired by Paregrap:� '. o,-t�ils io prrfonn::.�;e-��.r �''•:>�
<br /> • . ' covenanis and agreements contained in this 5ecuritS�.in.�ttument,ur•there is a legal pnxee.is`nb ihae��1':.r ss�;nifiruntZy afPcet s �
<br /> � Lender's rights in 1he Property(such as a proceeding itrHnnkruptcy.fur cundemnanan».-tc�enf�srre:�aws�t r�gulations).
<br /> � ' ' � then Lender may do:u�d pay whatever ix neressury ttrprnt�e���Hu v:�tue c+�'the Prc�pcny zrn�l.c�idcr's righls in th�Property. .
<br /> . - - - .- . lncluding pa}m�ent ot taue.�,h�zsrd insutancc:utd atltt�r�dumv men�iwicd in P:va�,raph 2.
<br /> • • • Any amounts disbursed lfy Lendcr under thir�P:in��tnph�+ltuU hecurnr:m additional drbt��f Huno�vcr.�nd be xerurcd
<br /> � � by this 5ecurity(ttswmen� These amoums�hu11 Me:u�u�t�ru.t fcuui thc.f�te of�li�hur�em�nt.at thc Nate t:�tit,:�n�l u�thc .
<br /> • opt�on nf Lender,shall be immediatety due.u�d pay�blit. •
<br /> -. ' 7. Candemnation. The proceedy d(any a�v.ud urrlUim fi�r dumi+grs,din.ct ur can.cequrntial,in rannec tlun with any
<br /> • � coccdemnatian or oiher taking of�my part of the Praperty;,ut�tur��nnvey;uice in ptace i�f cnndenm,divn.ate hrtrhy a5s�gncd ,
<br /> - $ - � - ' and sh�i!be paid ta I.cttdtr tn the extent of th.fuil�ni!►uni csf tlir�nzt.btcduv.s thst temahes=sn�ait!ttsl:ier!h:!�lote and this
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<br /> � _.�:�.�_�.J.;.__.� Security Instrument. Lender shall:�ply such proceeds tu the n:QUudun nf the indehtedness etndrt thr Note:tt�d thiti 5ecurity ,
<br /> ' - insttument, iirst to any delinqu�nt:tmcsunts appt�ed in the cmdrr{m�v#�t��f i�► f'sra�;r�.h ;. <snd t#cn tu�}�t af -. .. . .
<br /> . ' '� . princip:�. Any appticaunn of the proceeds tn the principa) �hull nnt extend or p�r:tpam�thr due datc u1'�he manthly
<br /> ' - ' • . I1�+,rr2rlJra��sr . '
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