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<br /> t. pa�.i.t ar t�rMcip�l,l��.n.�t a.d f,.t.clar�e. B«mwer�a�u p�y wben duo die priacipu cf.Maa wrroa oa.
<br /> Ibe deM avWaicod by the Nata wtd I�te ch�a due w�de��t►a Noto,
<br /> 2. Ma�Wy Wy�q o�7Wta.iw�ua�c�Md MM�CMar�. Bonower�hdl inclu�do in each n�otuhly P�Y���
<br /> togell�wi�h the principN�nd int�rcu u r�e�foMh in ihe Nwa�n�sny lat�o ct�e�.in imtrlim�nt ot�ny(a)tua rrtd
<br /> �pecW auiesmrenu kvled a W be kviad o�dtut�he Property.lb)b�d�ob•WYnww ar�mu+d ra�t�on tbe i�q�atY.�nd
<br /> (c)pnemiumr for Luurance requirod by tbu�paph 4.
<br /> Bach monthly i�wdlmau for items t+�)�lb)uM(c) �all eqwl ane-tweltth of'�ho uu�wil xnwwnls.a r+e�on�bly
<br /> euim�tad by Lender. pius �n amount sut�icienl to msintsln rn ddlUawl b�lurce nf na mare th�n oee-dxth of the
<br /> m�omh beforo a��i an would�ba�onue delinquau. Lender�ihall MoW tbo�uniwnts cdblocted in WW w p�y�items l�)�(b)�W
<br /> (a)befone thcy becama detinqueot
<br /> It wt any tima the total of the paymenta held by l.rnder for itema(n►.(b)md(c),oto�ether with�ha Puturc mo�uhly
<br /> PAYments for such item� pwypblo w t.ender priae to�ho dua dwter of cuch items.e�c by more than one-aixth the
<br /> est�rmtod nmount of paymenu�requiad topny cuch items when duo,a�if pn ment�an!he Note uc cunmt,tt�en Lender
<br /> s1wJl ei�her rcfund 1ho exoas ovcr ouc-si��l►of the eatimatod pnyments ar�t the eacesa over ax-aixth of tho estimAtod
<br /> payraents to rubsequent payments by Bormwer.a�tf�e optian ot Bamower. IP�he�a�l of�hc paymn+�a macb by Bormwer
<br /> for itcm(a),(b>,a(c)ia insufl'icient to pay the icem wkn due.then Borrowcr rhall poy to Le�kr�ny onwunt neces�ary to
<br /> malcc up tl�e deficiency on or befooc the drte the item baomea due.
<br /> As w�cd in thia Security Instn+ment,"Sccrctary"mcans the Secrcwry of Housing und Utfwn Dcvelo�ment ar his or her
<br /> designec. ln�ny year in which tM Lender must pwy a mortgege i�sucance pr�emium to the Secretory.cach manthlY paYment
<br /> ,� shell also include either: (i) an in.ctallment of the a�ual mottgpge insunnce prcmium to bc paid by L.endcr to thc
<br /> S.k'�- � Soc�etary� or(ii) a monthly clurgo instead of a mortgage i�uranee prcmium if�hts Security Instrumant is held by�ho
<br /> • 'r ;�,�,.y.: - Sec�etary. Fach monthly installment oF the mortg�ge�insu�ance premium shall be in an amount sufficient w xcumulate the
<br /> r�°���'• ' -• r�• ,� - fuU annual mortgage insurance premium with Lertder one month prlor to the date the iull wu►ual mongage iiuura�.r
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<br /> �� . � ; �,. 4,.: . prcmium is due to tl�e Secretery:or if this Securit y Insuument is held b�the Secretary,eACh monlhly char�e�ull be in an
<br /> i� •'`'¢'�•�`'.''.�' �rt�o►m t equa l to aro-tw e l f t h o f o n e-h a l f p e r e e n t o t't h e a u t s t e n din g p r i nc�p a l balunce due on the Note.
<br /> `� �•"�""''{'�;;:;� , � ' If Borrower tenders to l.ender the full payment of all sums secured by 1his Security Ins1rurnenti Bomawer�xcount
<br /> :., . �-n�fri ;:'r•.�' �.'� �^ shall be credited with the balanex �mciining for ell installments for items(a).(b)und (cl end any mortgage insurance
<br /> "�;, '';�'"�`�.;�,�,�'.r •- premium inslaliment that Lender has not become obligrted to puy to thc Secretary.and Lender shull pramptlY rcfund any
<br /> •�d.� . . . �:"•,=y',.� �'::. -' '. excess funds to Borrnwe�. Immediately prior to n foreclosure sale of dtie Property or its ecquisitioo by Lender.Barrowu'c
<br /> .���:��.�pj 'r„��� ' ,�'a'-.�,`;�?:'. swcount shall be c►edited with any balonce rcmaining for all installments for�tems(a).lb)and(c).
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<br /> ;.;. , Y�,;;,;�,s k'=,;�;; '4, �, 3. Ap Ikation of Pt�yroeats. AII payments under Puag�aphs I and 2 shall he applied hy Lendr��s follows:
<br /> �;� • ���•� p@�to the matgage insurance premmm to be paid by Lendar to tMe Serrctary or to Ihe monthly clwRe by the
<br /> ' '"����'�' � k Secre instead of the monthly matgage insurance premium;
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<br /> `;�•„ ' ' , ....�s::S �,to eny laxes,speciui assessmeata,leasehold puymcnts ar g�ound�nts.and fire.flaod and ot6er hazor�d
<br /> ;"1,�• �:.;'"••, ,� insurance prcmiums.asreq uired�
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<br /> , , '' '"^.�, ".,� � tn intc�rPS�due under!he Note:
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<br /> `�;,;:,, '''r;' ; �:;�J�t�,�•""• ' �,to amortizudon of the principal of the Note:
<br /> �..r�.t�!�:�.. �'� .' ..����, E1FTH,to lAte charges due under thc Nate.
<br /> '�';�:'�''�.%•� '' '' � 1. Fire,Flood wnd OtAcr Hazard Insw�aace. Borrower shall fnsure all improvements on�he Propeny,whether now
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<br /> `t��,: ': ' in existence or subsequently erected,againat any hazordh,casualties,and contingencies,including firc,for which Lender
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<br /> � requires insurance. 't'hik insurnnce shall be msuntained in the amounts and for the periods�hat l.ender requires. Rorrower
<br /> ' �� ° ehall also jnsure all improvementx on the Praperty,whether now in existeaoe or subsequently erected.against loss by Qoads
<br /> �` � � to the extent required by the Secretury. All in.rurance shall be carcied with companics opproved by Lender. The iasurance
<br /> policies And any rcnewals shall be held by Lender and shnli include b�s puya6le clause� in fuvor of. and in a form
<br /> �n ' .. '' acceptable Io,Lender.
<br /> ; In the event of'loss. Borrowcr+hull give Lcnder irnmedinte notice by muil. l.ender may make proaf of loss�f not
<br /> `�`� � ` made prampUy by Borrower. E.och insuronce rompany concemed is hereby uuthorized and direcled to make payment for
<br /> � such loss directl to Lender,in�:teud of to Burmwer and�o Len�r jaintly. All or any patt of the inrurance pmceedc may be
<br /> ��� „ ; applicd by L.ender,ut itc aption,either(u110 lhc rcduction of the indebtedne�s undcr�hc Nute und thia Secunty Insuument.
<br /> :.;.,• fi�t to siny dclinyuent amounts applied in �hc order m PnrugraPh 3, and then �o prrpnyment of principal,or(b) �o the
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<br /> �(' ' ��,i�;;•;,��'... restoration ar repnir of 1he damageJ property. Any upplication af the proceed.r to thr pnncipul shull not eatend or postpone
<br /> ���' �� � the due dute of the momhly puymems wh�ch;uti refermd tn in PuruFruph 2,or rhange�he umoum of wch paymams. Any
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<br /> • " ' • • excesg insurnnce praceeds over un umnunl reyuired to puy all ou�s�anding indeMedne.s under the Nate and this Security
<br /> Instrument shull be paid to�he entitv Ic�;all�'enUtled thcrelu.
<br /> In the event of foreclosure of Ihis Secu�ty Instrument or a�her�ransfcr of tiUe tn the F'r�ny that extinguishes the
<br /> •.r indcbtedne.s,all right,liUe and interc+t uf Borcower in�nJ t�►in�urrnce poficic.in ti�rce shull pa..w the purch�r.
<br /> - ,•, �, 5. (kcupnnry, Presewatian. Muintenance aad PrutecUon of the Property; Borrower's Loan Applicatlon:
<br /> :;..;!•: . Lepseholds. Bortower shull cx:rupy.csWbli,h. ;mJ ux thc Pro�xny as Borrow�cr:pnn�ip•rl R,iJenre within�ixty days
<br /> - after the execmion of�his Securiry In�trumcnt und shull con�inue ti�nccupy thr Pr���xrty u� Bnrcower's principAl re�.idence
<br /> �� for at leus�one yenr after thc Jute of ixcupanry,unlcs.the Scrntury determm�+thi+reyuircmrnt wiU cuuse undue hardship
<br /> '� ,• • • '�'•�• , for Borrower,or unless extcnuutin�rircuni.tance. exi,t which un t►eyund Borrnwer+ ci�mml. Bormwer .hull notify
<br /> `�'� Lenden of any extenuminF circumti�unce,. Burrower�hull not cammit wa�te or de,lroy,J•rmuge or r•ubxtuntiully cfiange ��
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<br /> ; Ihe Ropeny or allow thc Pn►p►:ny�o detcriorutc,reu�onuble wcur und teur crcepteJ. Lendcr may im�xci the Prope;ty if the :,
<br /> Propeny is vucanl or�b;mdimcd or Ihc loan i+in Jefaule. Lcndcr muv t�ike rw.ron•rblc ucliun to prulect und pre��n•e surh °�:,,
<br /> �1'� � , i � ` v�cunt or ubandcmed Propeny. Bum�a�r�hnll al+u he in drfault if�Borrow�cr.JurinE thr lurn applicution pr�xess. gave
<br /> i �. , � mnterially fal�e or inucruratc inti�rnuuion ur .wtcmems p� Lendrr lor failcd tu pru�•iJc Lendcr with :u�y mAterial �=.
<br /> informo�ionl in conneciion a•ith�he lu:m evidenred by�hr NcNO, including. hu� nnt limiied to,rcpnxentutions conceming "
<br /> <��, � � Burn�wer+�xcupancy of the I'ru{+ert�a�a principal re+idrnrr. If thiti Srcurit} In+trumm�t i.�m a lea.ehold,Boirawer�hull �-'��`
<br /> . �`, camply with the pnwi,iom�,(the ka.e. If Horraw•rr xquire�t¢c�idr to Ihe P�a�xrty.thr Ira+eh��ld and fer�itle.hall not ''st
<br /> i , ; „ ; be merged unlex.Lender a�me.to�hc nur�trr in wrnin�.
<br /> • 6. Charges to Burrower�nd Protertion of Lender's Ri�ht�in the 1'rupert�. Rurmwer.hnll pay ull govemmcntu)
<br /> or municipal charge+, fine.and imp�niti�m.that arr �H�t inrluJeJ in 1'aragr.�ph Z. Nurrowcr�hull puy the�e obligation.on
<br /> �.� ? �ime din:aly�o thc cntity u�hich i.„wcJ the pa��m�nt. If fnilure��� ray ��uulJ aJ��cnrly affcr� L.cnJrr: intrrctit in the
<br /> i�, • Propehy.upon Lcnder's reyucct Burroacr.hall prompily 1'urni�h w Lrndrr recript,rviJencing�he,r paymrnts.
<br /> , lf Borrower f�ilti to make thr�c paymcnta nr thc pa�mrnl� rcyuircJ I�y Pur•r�:raph '_, ar fuih to perlorm an�• o�her
<br /> covenunts und•rFreement�containrd in th��Security Imtrunnn�.��r�hrrc i.a Ir�:al pr�xecdin�thut ma5•�i�;nifir:u�tly affect
<br /> L___ �. t...�.1..�: ryoh�.:��h.• Pn.rr�nv i.urh:i.:�nnx•reJine m Munkluplr�•. for rundemnouim ar tu cnfurce law.or regul•rtions►.
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<br /> � ;j, • thcn Lender muy do and pay whu�evcr i.n�rr++ary ii�pratrr� thc�aluc uf thr Pm�xrly and LrnJer:�ights in thc Pmpcny,
<br /> including paymrnt of�;ucc.,hui�rd imurancc and rnhrr item.mrmiunrd in 1'uraEraph 3. �
<br /> , � • � Any omuunt�di.huned hy I.rnJrr under�hi.F'aro�r.�ph �h�ll t+rromr •rn adJ�uunal drht ul Nurn�w•cr;uiJ tx.rrureJ �
<br /> �� by this Security In.�rumrnt. 7'hr+r amuun�+.hall ixar imrre+i Innn�hr J•rtc��1 Ji.hur.emrnt,at�he Nutr mtc.und;►t thr �
<br /> � option of Lendrr,.hall hr�mmediutrly duc and payahle. ,
<br /> 7. C'ondemnutiun. Thr pnxe�til��►1'any awurd ar rluim lur JamaEe..Jircrt ar run.eyurnt�ul,in connectii�n u�ith uny ,
<br /> I ' ronJemnation or athrr tukin�uf uny part of�hr !'nqxny.ur li,r runre�ancr in plarr rt run�temnuhon.;ur hrrrby a..i�:nrd
<br /> and+hall Nr paiJ lo Lendrr to thr rx�en�uf U►e full umnun�uf�hr indr{+IrJnr..th;i�rcmam.unpwd undrr thr Nate:►nJ Ihi. ,
<br /> • 5crurity In.tnimrm. l.cndcr,hall•rpply wch pnx��J,lu thr nJuruuu uf�h.mJcblydnc.�un�kr Ihr Nutr und thi.Srrurin
<br /> � . Imlrument, lint tu uny dclinyurm amuunt� apphrJ in the unirr pm�•iJrJ �n IT:ua�r�ph �, anJ then a� prrpn�ment ut
<br /> '' principrl. Any applicaiion��f �hr pnx�tid�to 1hr �xirxip•rl .hnll nut ett�nJ or �x�.l�x►nc thr duc Jnlc uf Ihr mun�hly ,
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