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<br /> ?; 1. Ppyment ot Princlpal,laterc�l�nd Lde Char�e. Bormwer�lull pay when duo�ho principd ni.and interest on.
<br /> Ihe deM avfdertcM by the Note tnd I�te chu�cs due undcr thc Notc.
<br /> �;, 2. Maathly paya�enb o�7�zea�,laeu�nce�ad Olber Ch�r�es. Borrower shali lncfude in each monthly payment,
<br /> tagether wi�the princlpwl w�d imercst w►set fonh in the Notc and ony lutc charges,an inxtallmem of any(a)twcer wtid
<br /> � • ' `• `�- sperial�xxcesunentx kvied or tu Ix levial wguln�t the Property,(bl ica+�hdd payment�or Qround�+cntr on the Propehy.�nd
<br /> ' �` •. •• (c)premiums for insu�nce reyuired by Huugraph 4.
<br /> �-�,,; Ewch monthly instullment Por items (a), lb) And (c1 aholl eyuul one-twclflh of 1he annuul umountx, uc rcu.�anabty
<br /> _ ` =��L"" ewimated by Lender, plus en amnunt suf8cien� tn maintain an aJdi�iunal baluncc of na mure thun one•sixlh of thc
<br /> '"�++r . extimatod amounts. The iull w�nuol umount for rach item shall be uccumulAted by Lender within a period ending one
<br /> ^.� !��%.'...`, `,;";� month befw�e an item wouW become delinyuent. Lender shall hald the nmoums collected in�rus�to puy itemY(al.lbl w�d
<br /> �.+�': .�.�:�•. lc!befae they 6ecexne delinquent.
<br /> �'``';' " ""` " If at any time the tdal uf�he puyments held by Lender for items (a).Ib)and(cl,togethcr wNh the fu�ure mUnlhly
<br /> "+�°"��•'� payments for such items puyable ta �.ender prior lo Ihe due dates of such itemc, exceeda by more thun one-sialh the
<br /> ' y estimated amount of puyments rcquired topuy such items when due.ond if puymentx on the Notc+uc current,then l.ender
<br /> 4:�'��� .-•. ��� �x shall either refund the exceu over one-sizth of�he estima�ed pnymenis�r c�+edit the excexx over one-aixth of the estimated
<br /> ��'•• paymenw to subseyuent p�ymenlx by Bomower,ut the option of Borrower. If the lotul of�he payments made by Bortower
<br /> ++::in:;...a:n- � for item(u),(b),or(c)i: .nsufficient to pay the item when due,then Borrower shall pay to Lender any amoun�neccssary to
<br /> !r ' make up the deBciency on or before the date the item becomes due.
<br /> �`"'>�' As used in this Securit�Insuumen�,"Secreu►ry"means ihe Secrelnry of Housing and Urbun Develapment or hi�or her
<br /> S ' designex. In an enr in which the Lender must a mort a e insumnce remium to the Secret each monihl mem
<br /> Y Y PpY � B P M'• Y PaY
<br /> ' �, ahall also include eiU�er: (i) an instullment of the sumual mortgage insumnce premium �o be paid by Lender to the
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<br /> ' ' Secrctnry. or(ii)a monthly charge instead of a mortgage insumnce premium if lhis Security Instniment �s held by the
<br /> : f � `L Sccretary. Euch mon�hly installment of�he mongage inaurnnce premium shall ba in an umount sufficient ta accumulute dte
<br /> •� full unnual mortgage insurance premium with Lender one month prior to the da�e �he full unnual monguge insurance
<br /> ; premium is duN ro the Secretuey;or if lhis Security Ins�rument is held by the Secre�ary.each manthly charge shall ba in un
<br /> ;� . � amount cqwl to one-twelfth of one-half percent of�hc outstunding princ�pai balAnce due on the Note.
<br /> � � If BaroW�r tenders to Lend�r�he full payment of all sumti secu�Yd by this Security Inslrument, Borrowe�S account
<br /> sh�ll be credited with the bAlance remaining for �11 installmentb for item�lu),(b►and(c1 and any mongage insurance
<br /> ' premium inslallment�hnt l.ender has not become abligated to pay to�he Secretary,and Lender shall prumptly refund any
<br /> ezcess funds to Borrower. Immediately prior to a forec:losure sule of the Propeny or itti ucquisiticui by l.ender.Borrower�s
<br /> . � account shall be credited with any balunce remaining for all instullments for items(a).lb)and(cl.
<br /> 3. A lication of P�}�aeats. All payments under Paragraphs 1 and 2 shall be upplied by Lender as follows:
<br /> : , p$��ta the mortgage insurance premium to be paid by Lender to the Secretnry or�o the manthly churge by�he
<br /> ;' � Secre instead of the monthly mortgage insuruncr premium;
<br /> �,to uny taxes,special acsessments,leasehold paymen��or ground rents,and fire.flaod and other hazard
<br /> ' insurnnce preroiums,acrequired;
<br /> - , , . Tli1RD,i8 ii1t2TC5I(�t12 Under ihe;L'aie;
<br /> :. �Y : FOURTH.to amortizalion of Ihe principal of tNe Nute:
<br /> ;�•.' FtF!'N,to late charges due under the Note.
<br /> c':;.; �' 4. Fire,Flood and Other Hazard Insuraace. Borrower shall imure ull impravement.on the Propeny.w�hether now
<br /> in existence or gubsequently erected,against uny hazards,casuultie..and cantin@encies,including fire, for w�hich Lender
<br /> ' requires insurance. This in.r•urance shall be maintained in the amounts a�d for the periods that Lender reyuires. Borcower
<br /> shall alw insure all improvements on thc{'ropeny,whcther now in existern:c or subsequently ercrted,again�t lass b�•flaxis ��
<br /> � to the extenl t+equired by the Secrctary. All insurunce shull be carried with companirs upprrned by Lender. The insurunce �� ;
<br /> policies and uny renewalx shull be held by L.endcr and .hull include lozr payuble cl•ruuts in fuvor of, und in u foRn
<br /> ucceptoble to,Lender. ' � '
<br /> �,;' _ In�he event of loss,Borrower shull give L�nder immediate nrnice by mail. Lrndrr muy muke pn,af of lo.s if not ` :,.
<br /> �r � made promptly by Borcower. Each insurunce campany concemed i.herrby authoriicd and directcd lo make payment fi�r
<br /> 3 � such loss directly to Lender,insleud of to Borrowcr and to Lender,µ�inQy. All ur•rny p�rt of the inwrunce proceeds may be •;.
<br /> . upplied by Lender,at ils option,either(al to the rcduction ut'the indebteJnc+�undrr Ihc Nute and thix Securiry Intitrument, � ,
<br /> � !,. first to any delinqu�nt amounts upplied in the ordcr in Prrngrsiph 3,and �hen �n prcpaymcm of principal, or(b)lo the �;, •.
<br /> ` restorntion or repair of thc damuged propeny. Any•rppliration ol'the pr�xceJ.ta Ihc pnnr�pal.hall not cxtenJ or postponr
<br /> I. ' ,' "j�'�� � tha due date of the monthly payments which are rel'errrd u�in Paragraph ?.ur rhan��the amuun�of wch payment�. Any �;�..
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<br /> ��;:;;�:',• excess insurance proceeds over am m�ount reyuireJ to pay all i�ut.tanJing indebtedn�s�undcr the Note and this Serurity �:, .�
<br /> ' �•• -�•`��'' lnstrument shnll be paid to the entiry Ieg•rlly entitled thcrctu. -.
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<br /> � - •' �:•.,',:;:.�:;,.,:,• :; in�he event ut'foreclasure of this Security Instnrment i�r other�run+frr al'tiile to�he Pmpeny thu�extingui+h�s the R :
<br /> �� indebtednecs,ull righl,ude und intem�t of Borrower in:mJ to in.urunce paliric.in furcr+hall pati�tu Ilk purchuscr. �!�;'`
<br /> � ' � ' �;';� �, S. (kcupancy, Preservation, Maintenunce und Protection of tbe Propertv; Bor�ower's Loun Application; •
<br /> l.easeholds. Borrower shall occupy.e�tabli+h,and u+e�he Pmpcny ati Surri�wrr.prin�:ipal rexidence within x�xty day+ ���
<br /> .c���� � after the execution of thi.Security Imtrument und+haU continur to��ccupy thr Propert}•u�B��rrower:principal residence .
<br /> . � .,;,����,,;;, for ut least one year afler the date of necupancy,unle.�the Srcrctary�de�ern�inu�thi.reyuir�ment a•ill cauxe undue hard�hip ,. .•
<br /> ;, � •,`,," for Bomuwer, or unks, extenurting circurri.tance+exi.l whirh arc FxyonJ Hurro�crr'+ can�rol. Borrowrr shall notif'y ;
<br /> . .. Lenders of any extenuating cireumxtance�. Borrower,hull not cummit t�':I.IIC itt de�troy.Jamage ix wbytantially chanE� �� •'r'�.
<br /> �; , thc 1'roperty or ullow the Propeny to detrriora�c,r�awn�blc wear anJ Icar cxccp�ed. Len�kr may m.�xct the Prn�xny it'thr
<br /> ` , PropeAy is vacant or abandoned or thc loan i.in Jct'•rul�. Lcndcr ma��:ike re:�,unahlc urliun tn prulcrt •rnd pre.en•r wrh ��•
<br /> � • � ' .. vncunt nr abundoned Propeny. Bnrn�wrr +hall al�o tk in drfaull if�H�mowrr,during Ihc loan:ippliration pnire��.ga�•r '
<br /> �. � ` ��.' mntcriully falsc or inacruratr infixmation or .tatcment. 1„ l.cndcr l.x failyd to pruvidr Lender aith any malerial . ..
<br /> �t;, '.•� infarmauon)in ronnectiun with thr luan eviJrncrJ by thc N�►�r, inrluJing. hul not limitrd to,mpre�enta�ions ronrrmin� ,
<br /> ;� ' Borrower's accupuncy of the Property us a prinripul rctiidenrr. If thi.Scrurii� Instrumcnt i.on a Iea.�hold.8arrawer,hall
<br /> • romply with the pmvi.ions of thc leu,r. If Dorruurr aryuire.I�c tiUc t��ihr Pn,prrt�.�he lea.chold and fer�idr,hall nut
<br /> � � be mergcd unless Lcndcr ugrcrs to thr m�r�cr in writing.
<br /> 6. Charges to Borrower and Protection oP Lcnder i Ri�htz in Ihe Proprrl�. B��rraHrr.hall pay al)govemmrnlal �
<br /> , � or muniripal charges,fin�.and imFx»ition,that arc not includrJ in P�ra�raph �. Burruwer>haN p:y�the+e obligatiom on
<br /> � � f � ,, time direcdy to the en�ity a•hich is owed thc payment. If tailurr w pay would advrnrly aftect Lender� intere.t in the � �
<br /> �} Property,upon LenJer's r�yucst Borrowcr�hall promptly furni.h tu Lend�r rrrr�p►�evid�nring the,e paymcnt�. �
<br /> • . If Bortower fuil�to mulce�he.r paymem,i�r thr paymema reyuireJ hy PrruEruph 2,or f�il+to �xrform any otlxr
<br /> '� covcnants�nd��reemcnts contairnd in thi.Serurity In.trumem,ar th�rc is u Icgal pnxe��ding that ma� ,ignilir:mtiv aff��t .
<br /> � L_.�.�. �` � ��J��l��L.� :� .L�ti�����.�....L � . ��....1:�. :� L�.�I�.�... i..� ..�1.���....� ..��"� ��C��...�....... ���.....I..�:..... •
<br /> : . —', —"– � —'- a.euu�:�a��1euw w u�e��vNeny 1au�u u�u NntieeumE m vw�n�uNt�y.nn wuueuu�auan�.n n.��u.n..�u..n.,. p.........��.,.. �.
<br /> ,. •� then Lender mny do and pay whatcver is ncccssary to pmtrct thc value i�f Ihr F'ro�xrt�•und Lrndrr i riEh�.in the 1'ro�xny.
<br /> ,� including payment of toxc+,hazard insurancc:►nd othcr itcm.mrntioncd in P,�r�gruph 3.
<br /> Any umounts dixbuneJ by LenJrr unJer thi�F'urugraph�hall tkcanh.m aJJitionul drM ot'Bom�HCr anJ tk.ecunJ
<br /> ��•F• 1, ' # by thiz Security Imtrument. The�e umount..hall brar intcrcx� fmm thr datc of di+huncment,a�the Natc ratc,unJ ui�hr
<br /> i , � option of Lender,shall be imm��diately due und payuble.
<br /> i ��,L 7. Candemnation. Thr proceeJ�of:u�y awarJ or claim li�r Jamu��+.Jircrt or runuyurnlial,in r�mncrtiun with am
<br /> condemnati�M or ather taking of:u�y parl oC thr Property.ur ti�r com�ry•anr�in plare ot'rimdrmnutiun,un hrreb}•u..i�ncJ
<br /> � " and shnll be paid to Lendcr�o thc ex�ent of�hc full:unount ot'�he indchtrdnr..th•rt rcmuin�unpuid wxlrr Ihc Nutc anJ thi.
<br /> ; �' Securiry lmtrumenl. Lender�h•rll apply wch prcxc��d.a►�hr r:Juc�ion of the indrhtrdnr..unJcr Ihr N�nr anJ thi.tirrunty
<br /> Instrument,firsl w any drlinyuent amuun�, •rpplicJ in Ihr iinler prnvid�J in haru�traph �, anJ thrn tu pnpayment �►t'
<br /> ,�� '�` principul. My applicu�ian ol'Ihe pr+ekti�ls to thc principal ,hall not extcnd ur po.Ipimc thr dur datc uf the m�►nlhly
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