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<br /> � i. P�yeent of 1'Haclpd�laterat aud Late Cba�e. Borrower rlwll pay when duo thc prfncip�l oP,�nd intem�an.
<br /> the debl evfrenced by Iho Note and lato ch�rpe�dua undcr the Note.
<br /> 1. Manthly piymentr of'il�xe�,inwr�nce�nd Other ChuQa. Borrower ehell include in each munlhly pAyment
<br /> ta4elher with tho principal And intere�t ns set fotth in tha Note ond wty late charges. an instaqment of rny(p)Inaes�nc�
<br /> apocid�esesunent�levial or to 6e lovfed agdnst the Propeny.(b)k�sehold peymente or�round rcnla on tlw Propeny,�nd
<br /> (c)premiumA for insurancv rcyuircd by f'aragraph 4.
<br /> Fach monlhly inql�llment for itcros (a),(b)ond(c)shell equal one•twclfth of the annual amounte, an reasonobly
<br /> ,� estimuted by Lcnder, plus an amount xufticknt to mai�tein an additlonel balance of nat marc thnn onasix�h of the
<br /> i5 esdmetod unounta. The full unnuel emoum Por each Item shall bo uccumulatcd by Lender within u pedod ending one
<br /> ��'j� month before an item would become delinquent. Lcnder rh�ll hold tha amount�callected in tmat to pay itemr(a1,(b)�nd
<br /> (c)boforo�hey bccume delinquaM.
<br /> If at�ny time tha tatal�f ihe pey ments hcW by Lender for itema(a), (b)and(c),together with�he future mon�hty
<br /> payments for such items pnyable ta Lendcr prior ta the due datea of such Iteme,excceds by mare than one•aixth ihe
<br /> esdmatai omount of payments rcquircd to pay such itcros when due.and if paymentx on Iho Note are curtent,then i.ender
<br /> , I ahall aither rofund the exccss over one-sixth of thc ex�imoted payments or credit the exceas over one•sixdt of the esdmatcd
<br /> 'payments to aubseyuent puyments by aorrower.at the optlon of Borrower. If the total of the paymentR mede by earrower
<br /> w � for item(a1,(b),or(c)is insuif7ciant�o pay tho item when due,then Barower shall pay to Lender any amount necesssiry to
<br /> ?� mwke up the deticieacy o0 or before the date the iiem becames due.
<br /> As used in�his Security Ins�tument,"Secietiuy"means ihe Secretary of Housing and U�bar►Developmen�or his or he�
<br /> desitnee. In any yeur in which the l.ender must pay a mortgage insurnnce premium lo the Secretary,each manthly payment
<br /> •. �•:.- ,�. . �� sh�l also include either. (i) an instalimem ot Ihe unnual martgage insurance premium ta be paid by Lender to th�
<br /> • ,�,,;,�;!W Secretary.or(ii)a moathly charge instead of a moAgage insurnnce premium if�hic Secu�ty Insuument is held by the
<br /> •�,�,c,-�,,�;'•T�. -.:.�_..,; Secretary. Fach monthly installment of tbe martgage insurance premium shell be in an umouot sufficient to uccumulate tJ�e
<br /> � fall a�ual mongagc insuroncc premium with Lender one month pdor�o the date the fidl annual mcu�gage incurance
<br /> � �' f , premium is due to the Secretery;or if ihis Securily Instrumem is held b�ihe Secmtary.euch monthly churge shall be in an
<br /> �.�r;' , amount equa!to one-twelfth of one-half percent of the outstnnding principul t+�lanre due an the Note.
<br /> ��' +• �� I f B a r o w e r t e n d e rs t o Le nder the full ppyment of nll sums secured b y this Securit y Instrument, Bomower's account
<br /> � s . • xhall be credited with ihe balance remaining for ull lnstallment. for items (u). (b)and(c)and any mongage insurnnce
<br /> .; �• prcmium ina�allment lhat I.ender has not t�ecome obligated to puy to Ihe Secretary,nr�d I.ender shull prompqy refund nn�+
<br /> • � " eacess funds to Borrower. Immediately prlor to n foreclosure sule af�he Property a its acyuisition by Lender,Borrower s
<br /> ' � � ' � � . • � I account shall be credited with any balance remaining for all installmentR for itema(ul,(b)and(c).
<br /> •. .. � 3. ApplicAtion of Pnymenis. All payments under Paragrnphs I and 2 shall be applied by Lender as follows:
<br /> � ° �$$T.�o the morigage insurnnce premwm to be pnid by Lender to the Secretary or ro the monthly chuge by Ihe
<br /> Secrc mstead of the momhly mongage insurnnce premium;
<br /> ,.. . . , • ,�; � �to any taxes,speciAl asnessments,leasehold puymems or ground r+ents, and tire,flood und other haxard
<br /> � . insurance premiums.asreqwred;
<br /> THIRD,to in�erest due under the Nate;
<br /> � F�;�G;, ` � IFOI R7N,to amonization of thc principal of the Note;
<br /> �•''•����' �j�'}j.to late churges duc under the Nate.
<br /> .�' • ,. k'�° ' q. Fb�e,Flood and Other Heuird Insurance. Borrower shall in,ure ul I improvements on the Praperty,whethcr now
<br /> ��,;,,�� . � •'�...,_�;,;, in existence or sub.cequently crecled,ugainst any huzards,casuulties,and comingencieK,including fire,for which I.ender
<br /> rcquires insurance. 7'his inxurnnce shnll he main�ained in�he amounts und far�he periodti that Lender reyuires. Borrower
<br /> � .; " . , shall also insure all improvemenlx on Ihe Property,whether now in exiti�ence or sub�eyuamly erected,uguinst loss by flaods
<br /> to the eatent reyuired by the Sccretury. All inxurunce,hull be carried with c�mpnnieti aPpmved by I.ender. The insurance
<br /> ;. policies and any renewuln xhull be hrld by Lender und ,hull include loxs puyuble clau�e4 in fuvor of, w�d in u fortn
<br /> acceptable to,Lender,
<br /> ,�, In the evcnt of loss. Borrower,hul I give Lcndcr immcdiutr notice hy muil. Lender muy muke proof of loss if not
<br /> .��' � �� made promptly by Borrower. Euch insuruncc cumpuny concemed is hereby uuthori�ed and directed to moke payment Por
<br /> �� �uch loss dirertly to Lender,inxteud of to Borrower und to Lender jointly. All or uny part of the insurnnce praceeds may be
<br /> • .. � applied by Lender,ut its option,either lul to Ihc reduc�ion of thc indebteJnes,under the Note vnd this Security Instrument,
<br /> first to any delinc�uent umounts upplieJ in �he order in Pnrugruph 3, und tFxn to pr�puymem of prinripal, or (b) to thc :
<br /> rcstorntion or repmr of ihe dumuged prc+�xrty. Any upplication of thc pn►ceeds io the prinripal xhull not extend or postpo�e �`�-:
<br /> � the due da�e of�he momhly payments which are refrrred to in Puragr.�ph 2.��r changr th�ami�unt uf surh pnyments. Any �'°'
<br /> � exce�s inwrnnce prnceed,ovcr un umount r�yuimJ tu puy ull outstundinF ind�htedne��under the Note und thig Securiry
<br /> .�� Instrumcnt shall bc paid to thc cntit y•Ic�;ally cntitled thrnto. � ~
<br /> '" , • In the even�of foreclusurc of thix Security In.�rumem or wher irun.fer nf tiUc tu thc Pn�perty thiri cxtinguishes the
<br /> �:. indebtedness.:�ll right,liUc und intcrc+l uf B�irtowcr in and to imurunrc poliri e+in(orrr+hull pu++to�he pun:hutier.
<br /> !::" . 5. Occupancy, Preservation. Malntenance nnd Protection uf Ihe Property; Bi�rruwer'.r l.oAn Applicalfon;
<br /> �Y..��� :';:�'�' r..��•: , l.easeholds. Bortowcr.hull �ucupy.c�tabli+h. and u�c thr I'ropcny a, Borrowrr�principul rnsidencr within sixly Jay�
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<br /> • �'�`• �;'�,: nfter the executian of this Serurity In�irumrnl unJ shall ci�minur tn a;rupy the Pru�rly a� Borcower's principul re.ridence
<br /> � � '� ' �' �� �;'� � for at lcusi i�ne yeur aflcr thc dutr of ucrupun�y, unlc.�thc Srrrctary dc�crminr.thi,rryuin ment will rau,e undue hard�hip (
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<br /> .,:...•: •, for Burrawcr. or unlesti extenuatinE circum+tunce. cxi�t w•hirh are I+c�•und 8��rraw cr� comrul. f3orrower shull notify E
<br /> - • �':': '• Lenden af uny extenuuting circum.tunce,. Boru�wer xhull nal c��mmit wa.,te or de,tmy,damagr or wb��un�iully chan��
<br /> �''� the Prn n or allow the Pro n ta dctrriorutc.rca+onuble�reur und teiir c�re icJ. LrnJrr mu in� r�Ilte Pro n ii'the �
<br /> Pe Y Ix Y P Y � Ik I'� Y
<br /> � Rope�y is vucnm or abanJoneJ or thc laun i�in Jefuult. Lrnder ma�•take r�a,anaM�xiion a�prutert arnl pR,rrve �uch E
<br /> : � . vucunt or ahandoned R���xrty. Born�w�cr,hull al+u tx in d�fault if Hurtowcr. Jurin�:Ihr laun upplirutiun pr�x:c+�, gavc �
<br /> i , materially fvltie ur inacrurate inti►nnutiun or �I:+tcnxnt, a, L�ndrr iur f:iil�d w pruriJ� l.endcr with uny matrrial �
<br /> information)in cannect�on wilh�hc lucin cviJrnrc�! hy tlx Nutc, iorludui}. hui n�u limi�cd lu, rrpre.�ntation+ronrrmin�
<br /> ,�:. � Borrower4 ixrupancy of the Pro�xrty a�u prinri�:d rrsiJrnrc. If Ihi.ticrurit� In�trumrni i,un s�Ica,ehnld.Borrowcr,�irl l
<br /> S ' com}�ly whh Ihe ptovisiom�if tlx Ic�,c. It'Hurroarr aryuirr,Icc litlr 1��tfi�• Yrn�xn�•.Ihr lea.ehnld und)ee tiUe,hall nu� �:i�
<br /> • � ' �' be merged unl.:x,Lender agrcc��a thc mrr�rr in uriting, l��
<br /> � ; �'1 �'�� 6. Char�es to dorrower an�0 Prutcrlion ui Lcndcr s RiRhts in the Properl�. H��rrc��ver,hall pa� all govrrnm�ma! ,
<br /> • or municipul chnrgex,finex unJ im�x�+Ni�m,Ihat arc no� inrlu.le�i in 1'aragra��h?. Nurro�crr+hali pa} thr�r ubli�atium an
<br /> . � time dircc�ly to the emity which i,�,wrd the payment. II failure w pa� ����uld :�Jvrnel}• aFfrct Lcnder: intrntit in th�
<br /> Property.upon Lender's r�yuc+t Burri�wrr.hall prumptly fumi.h�o l.rndrr rc�ript.e�•idenring 13�e�e paumrnt..
<br /> •� (f Borrower fail. to muke thr�c puynuntti or thr payment. rcyuireJ by Para�!raph 2.�r t'a31+t�?�ri��rm an�• uther
<br /> C covenants und ugrccmenls runtuined in thiti S�:i uri�y In.trumcnt,ur thrre i�a Irgal{x�w��di��t�'h:��mao ,igniticunU�•affrrt
<br /> :�°�' L---•-- . Lender's ri¢hts in thC Pronertv l+uch uti a nracecdiny:in hrrel�niptcy. t'ur randemnannn,:rt.,rr�force Iuw.or n�ulntii�ml.
<br /> ---� ��_. - _- � then l.ender may do and puy whutevcr i,nrcc,.ary to prot�c�ttk�aluc nt t!k Pruperty an�F P.endcr'+right.in thr Pro�xny.
<br /> including payrnent of laxex,hs�ard intiurance:+rtci��ther itemti ment�on�:J�n P�ara�raph 3.
<br /> � Any arnounc,di,buncd by LcnJcr under rhis Paru�ruph.hall hcr�m�an adJitKinul Jcht uf Nurrow�r und tx�ccund
<br /> by ihis Security Instrument. 77xxr umount+�hull txur mlercrl from the datc of Ji+bunem�nt,ut thc Nc►te rulc, und ut thc
<br /> • optioe�of Lender,�hall be immcJiu�rly duc und payahlc.
<br /> ;_ 7. Condemtwtion. Thr pnKCed.u(uny uwurd i�r claim for Juma�;r+,dimct or cumryucntiul,in cunncction with um•
<br /> � � condemna�ion or ather�akin�ol uny pan uf the ProFxny,or for�om�yunce in place�.f condrmnution,un hemMy u.�i�ned
<br /> , ` and shnll be paid lo LenJ�r ti�Ihc cxlcnt iif'Ihe t�ull amoum ul'Ihe indeht�dncti�thm mm•rin.unpaid unJrr Ihr Niitr anJ Ihi�
<br /> � Security Inxtrument. LenJer.hull upply.uch pnxerJ,tu thr Rdurtion��f ihr inJrhtcdne�.unJcr thc yinr unJ thi.Srrurity
<br /> � Inslrument, firx� �i� uny dclinyu�nl nmuunl�up�licd in Ihc urJer providcd in Prra�ruph 3, and Ihrn ur prrpnymrm at'
<br /> 1� ` principal. Any upplicatiun af thc pnx�ed+w the principal .hall n�N extrnd ar p�»��xmc �hr dur da�r of�hc nmmhly
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