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<br /> `='.e �.,pa�est of priscip�l,Iatere.st a�Lste C6ar�Borrowa st�aall pay wUen due tlie prin�cip�i of,�nd i�cest uo. � ,
<br /> � � tDe de6t ev�enco�Qg tha Nac aad tue ct�ges due mder tLe No� . , . . ..
<br /> - 2. MuaW'Pa7ments ot Tyaes,Ia�raaoe aad Other Cbar�e.s. BamoAer sbatl incIude in each manddy paymem,' .
<br /> :� - togethe witb tLe prmCigll aad�tece.s�gs set forth in the NotG and�ny lat�cl�g��[t�.cratTment of u�y(al taxls aed �
<br /> - ri .. spa�at isussments 6evled oa ta be levia!against thc Ptvpaty.{h}leasehold paymcntg aa gronM cenYs�t6e Pt+operty.ana _
<br /> .::r -,�� (c)P�emtmns for�u�ancc iai�d bY Pa�ag�P!►4• �
<br /> �. Each montlilY�lh�for i�ems ta�(b?aiW,(�3 s1�all oq�ai one��lfih af the aanuai amounts. as ieasana6ly -
<br /> - - �ted by Lenda,ptus aa 3matmt sufficiet�t:to maintain an additional balance of not mote th��of the _- -_-- -- - - -
<br /> �1 -; esmaated amoants. 1be foJl a�ual amou�fcnt t�h ium sUa[1 ba accu�nWated by I�cnder witirin a period et�dinS one
<br /> m o u t h�e fae an i u m w o R l d.6 e c a m e d e t i n Q u e n t. I.�l d e r S b a 1 L A o l t l t h e a m 4 m t t s collected in ttust Eo p a y ilC�s(a).N)� ��_--°-__
<br /> � (c)befae they 6u�mc.d4liasqaau- '=_� <
<br /> ;..t;'' If at aay time•t�.total of the paymeuts 6Gtd b}I.Lender for items(ah @)and(c).mgethsr vvit6 the:fuhue manthly � ,-
<br /> fa�r such ifsuRC Ie to i.a�der ta tI�e dae dates of sad►iums,exceeds by�no�e thu�one-sixth tlie �-„a���
<br /> � ,:��:� Wl�� PaY� P� , ���_:�
<br /> i:., • tsdom�ted.amamt of PaY�raiui�ed to pay such iums wl�eo dve.atxl if payments ot�the Note aze tatient.tben Lender �;.,T,,.__�_-- -
<br /> . � ,''�-•- • sb�U eishet zsfiud the excas over one-si�th of dre estimated p�ayaoe�ts a c�tthe excess ov$r one-sisth of the estitnaseA .�-��_--
<br /> � -:'} payments to subso4uent I�aYments DY Eonower,at the ap�arb c�,eome�a��er_ �f the total of the paymeAts.made by Barcawtr - - ___
<br /> for ium ta).tb),or(c)is�cient to pay tl�e ium when doe,t��Boitbrxea shal!pay w ixnder any amowrc nec�sarY ta � : .
<br /> - - maite up 1he de8cisaQ►��6efore tlte dape the�6eoosrrc.��e. . _�.� � -
<br /> As used ia ti�s SeamRty Insuumen►."S�.V"means tUe 5e�et�r��g and Ur6an Deve(a�rqeut or his or 6er ' _�-���;:-E--.
<br /> :_�� . . =--
<br /> - d�i� In anS S1�Fn which t��.ender mus:�ay a mortgage insu�an��to the Secre�rY•ea�m4nthlY FaY��t -,� .'�•�`.
<br /> ; ' n .x� ��—
<br /> ' " ' shall aLso inctude eitlm: (7 ar�ra�tatlmeni of the a�oal moctgage icsuxanoe piemium to be paid by l.�der ta tbe :, ..,r;-, --
<br /> gtat :.
<br /> , `." F ot i� a maathl 'uistead af a e insaranoe prer��um if this Security lnstrument is hetd by the ._:.�_._�,�rs
<br /> - s�,z�►. c'� y�'" �� ��;.:�. -��� ... ,.:_
<br /> � - Sec�etary. E.ach montlily insrdt���t of the mortgage u�premiva��11 be m an amuunt sufficient to aocumutate the '',j`r,.>�_- _
<br /> = fo11 annaal mosgage insura�e premium with I.enJer one mantls priar t{i ihe date the fall annual tnostBaSe�nsw� �- :'`:�:---
<br /> : - • pcemium is due to the SaTetacy;or if this Securiry Insumnent is helA Ay�e Sec�etary.ea;.h montbty charge shall be in an ,:.,f����:<:
<br /> < <`r 3r�=.; amoaat equal tn one-twelftt�of a�e�half peirent of the oatstanding principal balan�e due an tt�e Note. . .,:
<br /> ,�;•; _ If Borrower unders to L�ender the fuU payment of al!�s secunA by this Security Instrument,Barmwer�s axount `}�'' -
<br /> �.'t';f:,„`• sha12 be credited with the balanc�e remafining for all:n���,*�vc for items(a),@)and(c) and any motsgagc i�ce � » -
<br /> -��4` t that l.ender has not become obligatec�irs�ay to the Secretary.and ixnder shall prompdY rc�vr�anY �', . �;Jt:;f��'�
<br /> • „..::,.� pttmiwn itistaltmen
<br /> •t �,,�.• ' excess f u n d s t a f 3 L�u w e r. I m m e d i a t e l y p r i o r t o a f o re c l o s v n e s a l e o f A h e P a o p e r t y or its a c quisidon b y Lxnder:3Sx.-t�r�er�s • .;;:'�.�
<br /> - _ .-_ accottr�shail be ci�weth any balance mmaining for all in.�talL,-sier:�.fccisfs(a}.(b)aad(c). . � � � , �i• -
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<br /> ` 3. Appllcatlon at Pityments. Atl payments under F�ragr�p�s i•�;'n�all be applied by Lender a�f�'.ows: ,.;. ----
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<br /> � ' r<�: FIl�ST.to tfie mortgage�n�urance prertuum to be paid t��.�der���'ne.SecretarY or to the monthly sharge by the -
<br /> - " ,�:c .. .. -'}"�;'rr•,
<br /> , }:�t��•.;, Secmtary instead of ihe ttvonthly mortg�ge insiaance�,��""x �� ` �:`.�- -
<br /> � ''�� �t�i'�:%,;,; SECOND.to any taues,spe�aal assessmenu.teasehotc�r��a�ai,�?und rents.and fire.flaod and other hazard �,'"'t;``. `.x y -
<br /> '- ``,.. . ' insurance premiums,as r�eqotred: � . ,,,.m,_
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<br /> THIRD•to inter�t due under the Note; , _ � .
<br /> . .'.� � , �Q�,w amortizadon of ihe princ�'pai a€the Note: .. . . . •.: .`�-�.�,`.:
<br /> '�b,_•._,�-
<br /> :;,;,.,,, � to late charges due undec the Nate: . ' :, , `"°`
<br /> :':-'.,s�:�.2'�� '' 4. Fir�Flood and Otdes Hazard lasurAnce. Bors;.u.��hall insure al�improvementv an the Piuper[y.wl�et�e.r�ow "�
<br /> � i�s existence ar subsequendy erected.against any haz�vx�s.�..�atties.and wntingencies.inctading fire.fos whic{s�..y-u�er %" � .. � -
<br /> , rdg•.�ires insurance, 'Phis nnsarance shall be maintained in the amounts and for the periods that Lender requires. Bo�:-�wer �i. �:.'��t��.
<br /> • ,, . shafl atso insure a�,�imgrovements on ihe Nvperty,wfiether naw i�exisieac.:or subsequently emcted.against loss by ftoods ','�'. �
<br /> - ta[he eatent req��.,d by the Secretary. All insurance sha116e casried wi��.4ampanies appraved by[.e�,.�er. The insurance • . �
<br /> � ticies and an renewats shall be hetd by Lender and shall include loss payable clauses in favar of, and in a form ' ''� . ^ ��
<br /> � �oc�ptabte to.Lender. �' ' .•�-. -
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<br /> " ` � !n the event of toss.Bonawer shall give Lender immediate natice bp mail. l.ender may make proof of loss if rtot ,;:;;`_,,.,,,,, , _
<br /> '}� `" made prompily by Bosower. Each ensurance company concemed is hereby authorized and directed to make payment for t�';«:::',.. -�.�,
<br /> • �*" � • ' such loss directly to Lender.inst�►d af to Horrower and to l.ender joimly. AU ar any pan of tha in�ura�ee proceeds may be � ' __ __
<br /> ` :�` ', " . . � `--
<br /> .�, applied by Ixnder.at iu option.either(a)to the reduction of the indebtednes�s under the Note and ihis�ecurity lnsuument. ���
<br /> � fust to any delinquent amounts applied in the order in Paragraph 3.and ihen to prepayment at pr�,�ipal,or lb)to the ' �{�;t�•-r.
<br /> . :;: : ; % ,• ,•
<br /> ;;�;:':� r�s'r.rauon or repa�r of the damaged property. Any applicatian of the proceeds to thc�priac�pal shttll no[catend or postpane t ,',.� .: ,�,+•,
<br /> , .�C z,: �,'�._'.';,,r' tae�::e date of the monthly paymenu which are referred co�n:d?aragraph 2.or change r�'�amount of such paymenis. Any � � �r�,��;�;:�'��: �'•�;`
<br /> �� � �,� y��;��;:`. � e�-ys insurance proc e e ds over a n a mount r e yuired tn pa}.�:�1 autstandm g mdebicdness under the Note and th�s Seairity �.,�;� �_ ,;
<br /> �'�+;' .. .„{ � . ia:tix�ment shatl he paid to the entity legally entitled theretu. � ''�'
<br />� �'��'� � In the eweax4f foresiasure of this Security►nstrument or other transfer af titRc to the Property G�.at eatinguishes the :,.},�rt,:
<br /> � � '?'. ` ;_� indebtedness,all irght.title and interest of Barrower in and to in�urance policies in farce shall pass to tl:e purchaser. . . . ,
<br /> �'�i '-'•� ' " S. Occapancy, Preservatlon, Maintenance and Protection ot the Property; Borrower's Loan Applicatlon; '.,;�.;;, • : �
<br /> � • '� ' ��`{�?i•, �' t.�.�hoids. Borrower shall occupy.establish.and use the Property as Borrnwcr's pracipal residence within s�xty days . ,_% '
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<br /> - • .tA;<•:r. aftec�t�e eaecutioo of this Secur,ty lnstrumcni and shall cnntinue ta accupy ihe F'roper[v.;��Botrawer's pnncipal rcridence ; :��;;._,.�;
<br /> .;.,��.r.,_ . - , . . ..
<br /> � �., forai teast one year afterthe date of occupancy.unless the Secretary deterr���es this rekw,c�rnent wiil i:�use undue hardchip I ;
<br /> - � . for Borrower,ct antes.c extenuating cireurr•srance5 exist which are bew�•�':�P 8arrawer� controt. �.:aower shall notify i :
<br /> ' ' . • Lenders of a��+extenuating circums[ancec. s�:tower shall not commit v=��%or de�tr�v,damage or substantially change ;
<br /> � " ';"'. ' ' the t�mperty or allow the Property tv deteriorate,reasonable wear and tear v:cepted. !�-W:r may mspect ihe Propeny if the f
<br /> � ;,,,�y.:;:�`�. pt�fr�y is vacant ar abandoned or the laan ir in defautt Y.,°z�der m�y take rea�anzb(e:�:�:,�n to protect and preserve such 's '
<br /> ;:y(;:' v2r...rc or aba..�ot{ed Property. Barrawer�hal!alsa be at,rv:faull if Borzowct.durir.g"r�;foan application process,gavc �
<br /> � • ma�eriall�r fxts� c.t ireaccurnte infurmation or titatement� t� l.�mder lc�� iu+led to pr�vide Lcndet with s+ny matena! .
<br /> . ' ' information)in a���ection with the loan evidcnccd by the Note, incJedu�;L•..5ut nat limited to,representutionv canceming � ,
<br /> .' Borrower's occup�;cy of the Prnperty ati a principal residence. If this S�x;:ry Mstrument is on a lra�:hold.Banower shult + .
<br /> co;r'�ty with the prov�sians af the le�sa. tf Bonower ucquire�:fee title tu�i:h.Property.Ihe let��ehold::nd fee tiUe Fh�ll not ; . , ,
<br /> • , be ntrr�ed unless Lendcr agrees�o the merger in writing. , ;: :�
<br /> � l: Charges to Borrowcr�d ProtecNon af Le�dec"s��t�ghts in the Property. E.crrower shall pay all govemmemal �.;,•; �
<br /> • or stta:�icipal chazges.fines ar.d'i:npncilion�that ure ac�t irr_ti,dcd in P�ra�raph 2. �orra•.aer rhal[Qay these ubl�gs�tions on �'�.�
<br /> ' • time directly ta she entity which is owed tt�e�S�ymens. If failure to pa�� �,�ould advcrscl,v affcst Lcn'�r+interetit in the ' `'i�'
<br /> Propetty,upon LEnder s teyu�st garrower�h�il•�:omptly fuml�h to Lr,ad��-s�.�cip�s evidencing thesc payments.
<br /> • lf Barro��er fails to make these pa��mer.:���r th� paymems re�uirui by Paragraph 1. or faits to perfom�any uther
<br /> covenants and�greementti romained in�hic Security fnstrument.vr th��e:s a Icg�l proreeding that may significsuUly affect
<br /> . _ Lendet's ri�ht�in the Praperty(such as a praceeding in Aarsl�n�ptcy. for condemnntinn or to enforce la+w.nr regulationsl. 's �•
<br /> then l.ender may do:ind p�y wh�tcver is neccswry to protcct the�aluc uf thc Property and LenJerti rightti in thc Pr�peny. � �
<br /> - - inciuding payment�f taxec,haiard insurance and othcr�tcros mentioned in I':v:�graph 2. •
<br /> � Any amaunty disburscd by Lender under thi�1':ua�raph shall brcomc an additiunal�icM�►f 8orrowcr att�i he�ecured
<br /> hy this 5ecurity instmment. Thece amounts shall be�u�n[erest from the date of disburscment,at the Note ratr.:md ut ihe :
<br /> . nptio»of l.ender,shsill bc immcdiately duc:u�d payabtc.
<br /> , • 7. Condemwtioa. The praceeds of;sny awnrd or clalm for damage�,direct ot r�nseyuential,in connection with any
<br /> � • candemnation or olher t:iicin�uf any Q�art of ihe Yroperty.or for conveyattce in pl�tee of condemnation.�re hereby a«igned
<br /> --_ _ _ ��-:,.-,,_.- - �n�sha!!be p:eid tn Lenr.�r tn the r.�tent nf the full amaun�uf the indeDteeiness ihut rcmainy unpaid undrt thc Notc:ui�i thiti _ _
<br /> ..-- .. _-__,.;_�-.�__:_—�- 5eeasetg trser� r� Lcndcc�hall<►�:ply a:c-trpmceede t�th�s.:3ta:tiunvf the'tncleh*cdaesv unde��he ti�de:u�d ihis Securitv _. .----_-_ _-_—_
<br /> d"i 1nsUVment, firsl tn :tny delinquent amounts:tpplicd in thc ordcr provided in 1'uragraph ?. and then to prcpaymenl uf
<br /> , • � principal. Any applirttrion of thc ptocceds tn thc principal shall not extcnd vr pustpune �hc duc date ��C thc m��nihl}�
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