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<br /> �; 1. Faymeat of Princlpwl,Iokrat rud L�te CharQa Borrower shaJl pay when duo tho princ p a. rcw on.
<br /> Ihe debt evf�encod by the Notc md Iwto char�es due under�he Noto.
<br /> 2. Moathly p�ymeoto oi7luce�lawraace aad(rihe�Char�ew Barnwer�holl include in each manthly ppyment,
<br /> to�elhcr with tho pdncipol and inte�e�t ns set fonh in the Noto and an�lato charQes.an inrt�llment of pny(A)twcer and
<br /> ' ' s y
<br /> •,�„�,+ ,,�, epecfal assessmenta lavled or to be levied ogaine�t the Propehy.(b)leasehold payment�or�mund rentr on tho Propetty,and
<br /> �' ' Ati��:� �.�4� (c)promium�for inwranco r+equlrcd by Hua�rnph 4.
<br /> ' �.'^'` ?�� F.och monlhly inawllmcnt for items(a),(b) and(c) shall equal one-twelfih of�he annuul wnounts, a+t rcaxonably
<br /> a�s•. ;(cb�..:•:.:�..,.r+
<br /> "; catlmated by Lender, plua an umount sufficfent ta mainlain an udditlona! bnlance of not mare than one-sixth oP the
<br /> �"'t"`''"""'�' ' cctimated amounts. T6e full Annual amount for each ltem shell be accumulated b Lender wf�hin a rfad cndin onc
<br /> '' ..e�.,�y�;��'`��"'`,.`�' momh beforc an itcm would baome dolinquent. L.ender sf�all hold the wnount�collaled in tn��t to pay tems(a),(b)and
<br /> , �" . . ' . � �' (c)befora thcy becomc deNnqurnt.
<br /> +� ���� " •`.�'�.= '•°� ' If at eny dmc the total of tha payments held by Leader for items (a), (b) and(c),tage�her with the future monthly
<br /> � �' � � . paymenta for such itema payable to L.ender prior to the due dates of sueh it�ms� eaceeds by more �han one-sixth the
<br /> ,, . ..;� . � . _ estimatcd amount of paymcnta required to puy such items when due,and if payments an the Note ar�e current,then Lender
<br /> ...� . , shall either refund the exces4 over one-sixth of the ectimated payment�ar cr+edit �he excecs over one-six�h of the estimeted
<br /> � •�� , payments to subsequent puymentx by Borrower.at the option of Bornower. If�he total of the payments made by Botrower
<br /> t� � ��.'r�•...:` ' �� for item(a).(b),or(c)is insufticient to pay the item when due.then Bormwer shall pay to Lender any amount necesswry to
<br /> , ,;;, . `��, •.i���•��;;��%���•�{�'i. moke up the deficiency on or before the date the item becames due.
<br />,, _�, t� : �;'.: . . ';.. �„�,,;;;,,.�; As used in this Securiry instrument, Secretary"means the Secre�ary of Housing and Urban Development or his or her
<br /> �;��•-� • _ designee. In any yeat in whichthe Lender must pay a mortgage insurance premium to the Secretary,each monthly payment
<br />�� ' ' ' `"��`•���"�t�` � shall alsa i�olude either: (i)an inatallment of the annual mort a e insurance remium to be a�d b Lender to the
<br />'� ��„ �... „ '�;:r' q .� � B P e P � Y
<br />, , Secrctary.or(ii)a manthly charge instead of a mortgage insurnnce premium ii this Secudty Instrument Is held by the ::;y�•..,;,�;�,
<br /> t� - -- ,-- Secrctary, &►ch mamhly installment af'the mortgage insuronce premium shall Ae in an amount sufficient ta accumulate the «,:.;,_e•
<br /> 't • ' full annual moAgage insurance premium with Lcnder one month prior to ihe date the full annual mortgage insuranre t;z;�'�;!t;j'�
<br /> •,�' °. � . premium is due to the Secretary;or if this Security Instrument is held by the Secretary,cach monthly charge shall be in an '� •�;-(��p,
<br /> ; �� . • ., emount equal to one•twelfth of one-half percent of�he oulstanding princ�pal balance due on the Note. :%rs •
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<br /> If Borrower tenders to Lende�Ihe full payment of all sums secured by�his Security Inslrument.Borrower's uccount r:;;
<br /> �'�1"' , '' shell be credited wi�h the balance remaining for all instullmen�s for itema (u). (b) and (c)and any mortgage insu�unce �:�'�!'
<br /> •� premium ins�aliment that Lender has not become obligated to pny to the Secretury,and Lender shall promptly refund un� •,�:. y%`�o��', .
<br /> ', . excess funda to Borrower. Immediately prior to u foreclosure sale af the Property ar ilx acquisition by l.ender.Borrowera
<br /> � ' account shall be credited with any balunce remaining for ull inctallments for items(u),(b)and(c).
<br /> ,"' � �''�'l 3. A Ucatba of Paymen�g. All payments under Paragraphs 1 ond 2 xhall be applied by Lender ur followti: �w
<br /> '���`•`�'� • �@$�to the moMgage inaumnce premium to be paid by I.ender to the Sec�e�ary or to the monthly charge by the "'�:;�•;
<br /> ' • j ' �� Secre instead of the monthl mort o e insurance remium; • •
<br /> Y � � p �.• � .;,;�� .
<br /> � � � ,to any twce�,speciul ussessment,v,IeasehoW pnyments or graund renta,and fi�e,flaad and aher hazard
<br /> � insurance premiums,AS flQUII'C(I;
<br /> � THIRp,to interegt due under the Note;
<br /> • FOUR7'H,to amonization of�he principul of the Nwe;
<br /> • , �,to late chcuges duc under tha Note. 4"?;��;r��5',
<br /> • � . 4. �ire,Flood And Other Hp7nrd Insurance. Borcowcr xhull intiure ull improvemen�s an tha Property,whether now
<br /> 'c;�`� ` • . In eaistence or subsequemly erected,ugoinst any huzardh,rutiuulties,And contingencies, including fire,for which Lender
<br /> ��� requines insurance. This insurnnce shall t+c muintuined in the umountx und for the period,that Lender reyuircti. Borrower ..,
<br /> ,, shall aiso insw+e all improvements on the Propeny,whe�her nnw in exixtence or sub�equently erec�ed,Aguinxt lo�s by floais . '*".-."'._
<br /> �.. : • to the extent reyuired by the Secretury. All in�urunrr xhnll lx cntticd with aunpanie�upproved by l.ender. The intiurnnce
<br /> policies and any renewuk shull be hcld by Lender unJ .hull include loz� payuble cluuse� in tuvor of, cmd in u form ' _�;,���, "-
<br /> '� � acceptable to,Lcnder.
<br /> ,� In the cvent of loxs,Borrower xhall givc l.cndcr imnxdiute noticr by muil. l.endrr muy make prcwf of loxs if nw '� "'"iy°
<br /> �:r;' ° made promptly by Borrower. Euch imu�unce campuny concemeJ i�hrrrhy uutlmriirJ und directed tu muke puymem for : '�.. �
<br /> �,r, . ' such loss directly 10 Lende�,instcud of to BoROwrr unJ to Lende�joinUy. All i�r uny pan of the insur;u�ce pruceeds may t�e �,
<br /> applied by l.ender,ul its option,cither lal w the reduction ol tix indebtednc,.urnkr thc Note�nd�hix Securiry Inxtrumenl, � -.��.a•A
<br /> � first to any dclinyuent umoun4ti •rpplied in the order in Prrr�rr�h :�,vnd thcn �o prcpaymcnt of principul,or(b) to the ` • ��'�'°
<br /> • � restoration or repoir of the domoged pmpr.ny. Any applirution ol�he procceJ�u�Ihc principul shull not extend or poxtpone � .,''�'"•�,:�.'y,,
<br /> � '� • Ihe due dute of�he momhly pvyments whirh urc rcferred to in Par•r�raph 2.��r chungr ihc umount of such payments. Any l' �`�'. �"'.'�!!�'�1�
<br /> excesti innurance proceeds over un umount rcyuircJ ai puy ul l iw�slundinE imk twedne..under the Nate and�his S��curily � �'`��'�J" +�=-•�
<br /> ln�tiuw�ut ahull bc puid ta thc cntit��Ic�aUy cntiticd thcrct��. !
<br /> In the event of forecl�sure ot�hiz Securiry Instrumrm�.r othrr tran.ter af iidr tu thc I'mpeny thut ex�ingui.hes�he 4 - —
<br /> .. indebtedness.aU ri�tht.tiUc und intercst of Borrower in unJ tu i n,uruncr Ex►liri�,in ti�rr�,hull pa..�u thc purchuser. f;��;;,'a;•;:,,.. '. �=
<br /> 5. Occupancy. Prtxervation. Mnintenunce and Protecdon oP the Pruperty: Borrow•er's I.uan Application; � ^�• � '
<br /> .. I,esse6olds. Borrower tihall �cupy.etitabli�h, and utic thr 1'roperly u� R��rn�wer�prinripul rc,idencc wi�hin sixty duyx 1'i:%,;",;:,�;�,' !�
<br /> „ . after the execution of this Security Imtrumem Lnd shull continue ai o.rupy �he 1'ro�xrty a,Bnrrow•rr:principal residencc �: � ' '
<br /> for al Icast one year after thc d•rtc of ixcupancy,unleti��hc Sccnlary detrmiinc.thi�rcyuirrmrnt wiU cauu:unduc hardtihip , '
<br /> 1 0 • • ° j for Bo�rower, or unles� extenuuting rircum+t�nrex eti.t which un tkyond Burrowcr: comrol. Burrower +hull notiTy � •
<br /> � • � � . Lendcrs uf uny extcnuvting rircum.tanrc.. B��rrawcr.hull ni�i cimm�it wu.�c��r Jc.tn�y,Jamu�!c or tiuMtitantially chungr
<br /> the Propcny��r ollow the Ropcny to detcrioruir,rcu.onublr wrar anJ�rur cxreptrJ. LcnJrr msiy imprct the Prupeny if Ihc
<br /> ' Property is vACant or ubundoned or the lo�m i�in drfuult. Lrndcr muy takr rcu.��naMc artion ta pmtect and pr�servc,uch
<br /> ;.;� � � � ' � vacant or�bundoncd ProFx:ny. Bormwcr rhull al�u Fx� in Jrt'uul� it�l3urcuv►er. JurinF thr lu:ui �pplicati�m prcxe...�uve ��
<br /> , •, �:. �' :,� mnterinlly false or inucwrate infarmation or .tatcm�nt� a� l.cnJcr lor 1'ailrJ a� pruviik Lrndcr with any matcrial
<br /> ; �� - informationl in connection with the lo�m eviJenceJ hy Ihr N��Ir,inrludin�, hut mn IimitrJ k�,rrprr.rntution.ronrrmin�
<br /> •�.�a ` ;! Botrowerc occupamy of the Hopeny�s•r principal rctiidencr. If Ihi.Srrurih In+in�m.nt i+on a ka.rhi�ld.Hittrower.hull
<br /> l � • � , , � comply with the provisiom of ihe le.i.r. It'Bnrrower acyu;re.1'cr tiU�tu�hc Nn,�n}•,the Ieakhuld and fr.tide shall not
<br /> _�,�, '. be merged unletis LenJer agrce�a�Ihc nurgcr in writing.
<br /> . �:: 6. Cha�ges to Borrowerand Prntertion oi Lender's ltight+in the Propert�. Borcuwcr.hrll pay ull gu�emmeM:d
<br /> • , or municip�l chargeti,finec unJ im��iti��nti that art nu�inrlu�icJ in P�ara�raph�. Hnrta���er.hall pay the,r uhligatiun+un
<br /> ���..,i.�,..,• t �ime directly to Ihe entity which is nweJ the paymeat. If fuilun tu pay ��ould ad�•encly aitrrt Lendrr� intere�� in thr
<br /> • Propehy,upon Lender's reque�t Borrower thal)promptly f'umi�h ii►LenJrr rcrcipi�rv�dcnrinE ihr�r pu}•mrnt+.
<br /> . � � ' !f Borrower fails to make thetie puymrnt� ar thr puymem. rcyuireJ b� Para�raph 2,ur 1'ailr to Fxrtorne am uther
<br /> �,� coven:mts und ugreements contained in thi�Security Im�runmrn.i�r therc i.a le�eal pr.xerding�h•rt m•ry.ignitirao:l� id�ferl �
<br /> F"----- � Lender!�nghts m the 1luperty(such•r+u pnx:cedm�!m h;u�kruptry,lor rnndemnat�nn�x to cntimr la�v.or re�:ulutian�l,
<br /> then Lender may do und p•ry whutever is nece++ary lo pmtcrt thr��alue of the Prc�xrty und Lrndrr:riEh�.in thr F'ropem.
<br /> �� including payment of t�xes,hu�ard insurrnre und other item.memirned in P.�ragraph 3,
<br /> � Any wnounts di�buned by Lender under thiz Pura�raph .hull Ixromr:u�additiimul drM ut'Horruw•er and hr.rrured
<br /> . � � by lhis Security Inalrutnent. 'Ificse umount�ahvll Ix�r mterc�t Fmm Ihc datr of�di�hunrmcnt,ut thc Notc ratc,and at Ihc
<br /> "�' option of Lender,shull l+e immeJintely due und p•r�ahle.
<br /> !' • � 7. Condemnalion. 7'hc procecd�of any uwanl or claim ti�r Jumagc.,dircr�or run.ryurntial,in rannrrtirn with u�n•
<br /> _ �,• , condemnation or other tuking uf�ny p•rh ot'thr Propcny,ur for cuncey•rnc�in plarr uf condemnution,arc hrrcby:i+.iEnrJ
<br /> � und shall be pAid to Lender to�he extent of the f'ull umount nf the inJcNtrdnr..tha�nmain�unp:�id under thc hutr anJ thiti
<br /> • ` ` Securiry Insttument. Lender slwl)upply+uch pnx�tiJ�t�i Ihe r�edurtiun of Ihe ind�btednr..unJcr thr Nutr and thi�Srrunt}
<br /> 1; � Inswmen4 first to any delinyuem umount. upplied in Ihr cmkr pr�wiJcd in Par;�greph �, und then ta prrpaJmenl of
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<br /> principsil. Any application ot'the proceed�to �hr principal .hull nut extrnJ ur po.ip�mc ihe du� dutr uf thr monthl�
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