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<br /> - 1. PayaKat a�Princl�l�inkrat aad I.�te Cb�rga �vwar�hwli pay when dua tt�a ptinoipd of.and iaoere�t an.
<br /> 1he debt avlrenced by tho Note�nd We ch�rge�dua under the Nota.
<br /> 2. Mwtbly p�yme�b ot 7Uxa,latnraaoe lind OtbRr Barowcr dull inalude in ach manlhiy p�yment,
<br /> m
<br /> u.:,;��" together wi�h the principd and intene�t w xt foMh in the Naa �ny la��ta clwr�w,�n ins�t�liment oP�ny(�)uuce+�nd
<br /> specid xssessmenta Iev1eG or w be levlod Against tMa Propeify�(b)lem�ehold Pay�rknW ar pruund�nu°n 1h°Praperty.+uid
<br /> �'`'M1 � (c)prcmiums for Lis�u�uxx r+oqui�ed by Paray�ph 4.
<br /> - R:�! .��.� Each monthly inatalimrnt for item� (a).(b)w�d(c) thnU a{ual are-twclfth ot�hp�►nt►u�l Nnounu�.� �earanabiy
<br /> - ",,;:,��.:�,.:;, ccti�wtcd by I.cnder. plus un amount sut�icient to maintein aa addidoreal bnlance of nM morc Ih�n one-dxth of the
<br /> , . . ° e s t i m u e d�mowte. Th e fu l l ann w d iurroun t for eac h i t em s h a l l b e A c c u m o�a t e d b y l.a n d ar within�p e r b d end1�g one
<br /> ,:+,:�;;...�:=��,�' : month 6eforc an item would bocome delinqucnt. I.eMer rhall�hnld the ureoiuu�colteolwl'in Itu4t ro psy item�(�).(b)�nd
<br /> '-:: .,., ... (e)before they become delinquent.
<br /> '"�''. •' If at any dme the tdal of the pn ts held by Lender for iteme(a),(b)wid(p),.ipgether wilh the fature monthly
<br /> PaY�nta for such Items payAble w �r prlor to thB due datea of such ltema. exQaodt�by mat+e than one-siath the
<br /> •��"''•�^��`s�"`,� cstlmated�unount of payments�equircd topay auch items whan due.and if pa, ts on�/ho Note Ane cwren�then L.ender
<br /> _;� .� . . ,` ,.5; shall either refund thc caass over ane-sixth of thc esdmatsd payments or�exopsc ovar one•sixth of the estlmpted
<br /> �"'� ` • .• payments w subcequan payments by Bortower,at tha aptton of 9orrower. If the total af Iha pwymenls made by Borrower
<br />�,wa� ' '- . - for item(e).(b),ar(c)is insufticient to pay�he item whan dua.then Bomower chWl pay ta 4ender wty+u�wunt nxeswY w
<br /> {`��+ s;�- �r•:.�..:.;,-.. _=-�,;�' . mako up thc defidency on urbefore the date the item beaomae dua.
<br /> ,�. ± . .. , As used ln thfs Security Insavmen���Secretary„maana tlta Sa�+etary of Houaing and�Urban Developme�t ar hfs or her
<br /> �� ..;' • - desigaee. In any year in which the Lender must pay a mc►rtgage insw�ance prcmium to tho 3oeretary,each mand�lY psYment
<br /> i � , � shall also include ei�her. (i) an installment of the annual moAgnge inswance prcmium to be paid by Lender w the
<br /> J . �'w: .:: . •• . '-r �- Sa�etary,.or(ii) A monthly charga instead of a moKgage inaunncc prcmium if�F►i�Securily Incuument is held by the
<br /> . .•.-.:� . Secretary. E�ch monthly installment af the mortgaQe ineunnce pmmlum sttall be in an amaunt sufficicnt to aocumulate the
<br /> - . . full annual mortgage inxurance premium with Lender ona month prior to the date 1ha full.annuel martgage insurance
<br /> • . � - pnemium is due to the Secretary;or if thia Securiry Instrumant ie hetd by tt�e Sec�etary,eaoh,manthly charge shall be in an
<br /> •• ,` �;;�;• amount equal to one•�welflh of one-half percent of the outatunding principal balance due on the Note.
<br /> '`��•:•r; If Borrower tenders to Lender the full payment of s+ll sums secund by this Secudty In��n�men�Borrowerk account
<br /> . �-::,��• shall 6e credited wi�h t�he b�lence remaining for al) instwlimants for i�ems(a). (b)and (o) and any mortgage insurence
<br /> �.,.,. ..
<br /> premium installmem that L.ender has not become ubligat�rd to pay to the Secretary,and l.onder shall prompely refund eny
<br /> � '' cxcess funds to Borrower. Lnmediately prior to a fo�clpaur6 sale of tl�e P'ropcRy or its acquieition by Lender,Horrower'a
<br /> �:`'':i eccount shell be crcdited with any balance remaining foc all inatwllmants for iterna(a).(b)and(a).
<br /> " ' � � "';"��' 3. Ap�licatbno!Paymenfa All payments under Paragcaphs l and 2 ahall be appllad�by Lender as folbws:
<br /> r'�' � �::�;..,
<br /> 3i„� : : F�g$T,to the mortgage inaumnce premium to be paid by L.ande:r to the Secretuy or la tha monlhly chwrgc by the
<br /> '' � �.�"���•r, � Secre instead of�he monthly moAgage insurance premium;
<br /> :��,.'i�::,�� '. � ,to any taues,special assessments.leasehuld paymentn or graund re�ts�and Rrn.flood and other ha�ard
<br /> - +" ' ' inaurance premiums,a.�required;
<br /> ��:� •
<br /> — "^'°"—�'�-':?`":' ;; � �$Q,to interest due under the Notc;
<br /> �.' '{,.���.;.•:' EQURTH,[o amortization of thc pdncipai of Iha Nnte;
<br /> ' . �,�:� :•�,.: p�,to late charges due under ihe Notc.
<br /> ��,'�����;., 4. Fire.Flaod and Otbe�Hazard I�urance. Bomowar shall insure ail lmprovementa on the Propecry.whether now
<br /> in existence or subsequently erected.against any hu�anlx,cneuultias, and contingencies. including fi�+e, for which Lender
<br /> " •. requires insurance. This ingurance shall he maintui�ed in thn emount�s and for the periods that I.ender requires. Bomower . ;
<br /> .�,. • .`"'�<' shall silso insurc all improvements on ihe Property,whethor now in exixtence or Qubsequemly erected,againat loss by floode +`'
<br /> to the extenl required by 1he Secretury. All insurunce shull be camed wi�h companies oppmved by Lender. The insuranre
<br /> �,;}-`:' . . , policfes and any renewals tihull t�e held by Lender and yhnll ite:lude loss payable clauses in favor of. and in a form
<br /> acceptable ta,Lender.
<br /> t�;l• In the event of loss,Bmrower shall give 1_ender immadfat�s notice by mail. [.ender may mal:e proof of loss if not ' �
<br /> , . made promptly by Borrawer. E�ch insun+nce compuny cancerncd is hemby uuthorized and dlnaeted�o make payment for
<br /> � , -• '�',,,, such loss direcUy�o Lender,instead af to Borrower and t�►I.�:ndur juindy. All or any pun of the insurance proceedx may be
<br /> applicd by Lender,at its option,cither(a>to thc r¢duction of�hu indebtednesti under�he Nmc and lhis Security lnstrument,
<br /> � �� ' first to uny delinyuent s�mountti applied in the order in Poragr�ph 3, and then to prepayment af principal,or(b) to the
<br /> . ,. ;..r�-'... �
<br /> ��' restoration or repair of thc dumaged propeny. Any upplicution of thc proceeds to�he principal shall not extend or poAtpone
<br /> the due dute of the monthly puyments which una referred t�►in Pnr.�graph 3,or change�he amnunt of such payments. Any
<br /> • excetix innurnnce praceeds over un amount required to p�iy all outstundm�z u�cieb�edne�s under�he Note and�hla Security
<br /> Instnrment shall be paid to the entitv legully�nlitled tl�er�a�.
<br /> '''`'�• In the even�ot foreclo,ure of thi�5ecurity Inrtr+►mum or o�her tran�:fer of�idc tn th� Propeny thA�extinguishe��he
<br /> � � indebtedness,ull righl,titic und imcrest of eomiwcr in und a�insurancc pul icic.in furce�hull pa�s�o the purchnser.
<br /> �� . �:,;, . 5. Occupancy. PreservaHon. Mafntenance and Prutecllnn nf the Praperty�: Barrower's Loan Applkatlon;
<br /> I.easeholdR. Borrowe�shall occupy,e�cubli.h, und uru: thu Pn�peny an Burre�wer.prmcip;+l rosidence wi�hin sixty duys
<br /> � ' at�er the exe.:wion of this Security ln��rumrnt und++huU�cantinuo tn�wcupy ihe Pn��x:n�•a� anrrower\principnl residence
<br /> for at leus�one yc•rr after the Jate of�xcupunc��,unlu�a tha Sacre�ury detcmimr.thi+royuimmvnt will cuu�e undue hordship _.,..
<br /> �• i for Borrower, or unik�z extenuutinF circunixtunee� exi�:t uhich an� Ix�yc�l B��rt��wer:conlml. Dorrower shull nolify ��
<br /> Lendcrs of uny ext�nuuting cirrum.tunceti. Borro�ver.hull n��t cammii wu+tc or dr+iroy.dijmagc or substumiully change
<br /> ! �he Pmpeny or allow the Prnprny to deterioruir,re•r>.�muhlu wcur und tcur exceptcJ. Lender nniy inyx:ct Ihe Property if the
<br /> ' , Pmpeny is vucanl e�r uhandoned or�he loan is in del'uull. Lendcr muy tuke re:��onuMe ar�iun�u proiect and preserve such •
<br /> vucunt or ubandoned I'�operty. Borrowrr�hi�ll :dxo hc in dol'uull it'Buirower. Jurin� tlx l��an sipplica�ion pn�r�+.guve ,;;;'
<br /> ° muterially fulse or in�ccurate infatmatiun crr .lutetn��ntti w Lrnder lur I'ailrJ to pruvido Lender willt uny mntenul
<br /> s
<br /> . informationl in connectian x•ith thr kmn c�-iJenced by the Nn�c,includB�g,hul iwt limited ��,reprc.cntu�iom conceming
<br /> • '�; Borrowrrk occupancy nf�he Pmp:n}u.a principnl re.idencr. li thi�Serurm• In+trument i,un:►Ieu.ehold.Borrower shall
<br /> � comply with tlK provi�ian�of thc leu,r. If'Horcuw•er acyuirc�fcr litlr tu tlx Pru�xrty.�h�Ie:i+chulJ und fer litle xhull niN
<br /> , ; ., . i►e merged unle..I.endrr a�rer.to thr mrr�rr in��•ritinp. i.'.
<br /> ' 6. Charge�c to BorroNCr and Protectian of I.endur'.r Riuht�:In the Propert�•. B�inu��•�r�hull pa��all govemmrntal C; '
<br /> or municipal rhargr�, finc+and im�x�+itii►m�hut anr no� included in Paua�ruph 2. Bnm���cr.hall pay 1hc+c obligatiun.�m '
<br /> timc dircrtly to Ih�cntily whirh i+ o��•cJ �hc pirym�n�. II ti�ilwc tu p:i}• wi►uld.Kivera�lr ;�ffcct Lender: interr.� in Ihe i
<br /> Property.upm Lenckr:rcyue,t Burruw•rr�hull pmmpdy tl�mir.h lu L�tHlcr nc�ipt�rviJ�rx��nF thr.e paymentti. r
<br /> ' �' It BorroWCr iail� to rnakr thr.r paymrnt� ur thr puymcn��n:yuircii hy Par.�gruph�. ut ft+il+ to }�rform uny othcr I
<br /> _ � , cuvenunl+unJ ugrc��mem.runtainrd in�hi�Srcurily In.tnun�nL ur theR iti a Ir�al prncreJinF�hut ma•.i�nitirantly ul'fect
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<br /> .- � Lrn�r`ti nght��n tlk Nro�xny I�urh a.a pr�xrriiinp m nuniarupic�•, ii�r canucnmuiiun v� iu e��iu��c �.+::..:i ic�:u�ai�.:��.;.
<br /> then Lender may do unJ pay a•hatr�•rr i.nere•.an a�prutrrl 1Uc��.duc��f Ihe R-�ry�en� u�xi l.cnilrr�right.in tlx Pmpcny.
<br /> � including paymrnt of 1axc�,ha��rJ in,urunrr and uth�r ilrmr.m��miuned in Par:��ruph�. '
<br /> � t Any umcwnt,di,huncJ hy Lendrr unJcr�hi�1':vugraph�hidl Nrcom�an:�dJiliunal deM u1 [iorroWrr and t+e�ccurtJ
<br /> � by this Seruri�y In,irumcnt. 't'hr.r umounl+,hull txar in�crv�t fnnn thc�lair uf ditihunrmenL a► ihr Nutr rute.anJ a��hc .
<br /> `•� optiun ul'l.endcr..hall Ix immrJi.u�l�dur and pu}.�M..
<br /> � ' 7. l'ondemns�tion. '1'hr pnkrrJ,uf any u�ard ur cl:uo�t�rr dunui�tc.,dimrl ur rumcyuruti��l.in runnerti�,n��ith any
<br /> • ; condemnutiim ur uthrr�ulinE ut';u�y part ul'ihe Pru�xn�.ur lar ruiivr�;u��•r in pl�irr uf cundrmn.�ti��n.ure hrrcby:��.iNned
<br /> � unJ+h•rll tx paiJ t��Lrndc�lu 1hr r�lrnt ul'1hr t ull amaunl ul thr�nd���lcdnc�.lhat n main.unpaiJ undrr�hr Nutr anJ�hi�
<br /> ( , Security Imlrumrnt. I.��xf�r,hall•rpply.urh pn�rrd,tu d��niductiun ul dic�ndrhtrdnc.•utr;tct tFk Nutr and thi�ticrunly
<br /> � � Imtruminl. 1'int ta an� delmyurnt :miuum. :�ppbrd in 1hr wJ��r prueuted m I*aragruph ?. :uiil Ihen tu pr�F��ymrnt al
<br /> � principul. Any appl�cauun uf thc pnk�cJ�lu Ilir pnnripul .h�dl na� extend ur�x��l�xms� lirr due Ju1e ut IFn munthh•
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