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<br /> 1. P�9ment d Prtncip+d,laterert and Lste Cb�tt�e. Bortower�Iwll p�y when duc�hc principul of.�nd intci+�rt on.
<br /> ti�e deNt evi�enced by!he Nate a�b lwte char�eA dua unckr thc Note.
<br /> 2. Mont61Y p�ymenV ot'I�es�InaurAnce aad Other Cbar�ee. Borrower�Iwll include in ench maathiY P�Y��•
<br /> n
<br /> together wiU� ttic principsil+u�d intaroct nc�cl fonh in the Nnte and any late chArKea,an 1nsl�llment of nny(a)puteA�r�d
<br /> spGCi�l asscsaments kvied or to be lavisd ag�lnst Ihc Propeny.(b)leaschold pAymenu�or�mund rentr an tho Pr'uPatty.�nd
<br /> r ,�•-:, (vl�nCn►luu�a for inwrancc r.quircd by t'uragrnph 4.
<br /> ,°^'�'4:: F.ach manthly installment for itcma(a),(b)and(c) chall equal one-tweltih af the annurd amaunta,as rcasonobly
<br /> � 7'�`��: aslimAted by Lendcr, plus an umount sufflcient to mainwin an uddilional bnlance of rnnt morc Ihan one-sixth of�he
<br /> -.,� ,:
<br /> . ,,�''•'".�.' ":�"+ exdmpted suROUntR, 'ilio full aruiuul amount far each item abull b�e�cumulatasd by Lc:ndcr within A pedod ending one
<br /> *' '�� moitth ixfote an.itcm,would 6ecome delitqueM. Lender shall hold the amoaats colkcted in trust lo pay�tems(r).(b)md
<br /> lc)befarc they becoma dalinquent.
<br /> '���,N„,. •,.:' j If at pny tima 1ha tatpl of the paymen�s hcld by Lendcr ior items(A),(b) and lc). together with Ihe future man�hly
<br /> �' � �:•. . payments for Rucb i�ams payuble to L.ender prior to the due dateg of such itoma,exceeds by mone thun one-sixth the
<br /> ����'�`'...., . `��'.,•.;, e►timated amount of paym�nts required to pay suah ilams when duc.end if pay,ments on the Note are current.then L.ender
<br /> �`�' �.�-.. ;�� shull either refund the exces.c over one-sixlh of tho estimated payments or credu the excexs over one-six�h of the estimated
<br /> t: '�" ` � pt�ymsn�a to subseyuenl paymentR b�Bc►trowcr,at thc optian af Borrowcr. If the totnl of Ihe payrtkntR made by Borrowcr
<br /> a' �. . ._ .
<br /> • �' �• • tur item(a),(b),or(c)is insuffiaiant,tq pay the item when due,then Bormwer shull pay ta Lenda�ony amount neceasary to
<br /> . �.: . , , ,
<br /> - ',,:fi� make up thc deficicnay an.ar befurs tha data�he item becomes due.
<br /> �' �:• � i ;`.� �1 - As used in�hie Bacu�iw Insin�men[."Secretary"mcana�he Secretary of Housing and Urban Ilevelopment ar his or her
<br />����; � °� daeignae. In.uny yewc in�which tha Lender mu�1 pay a monguge insurnnce premium to ihe Secretary,euch manthly payment
<br /> '•,
<br /> � shall:a1HU inaludu eithur. (i> an ins�aliment of thc annuul mortgage insuronce premium to be paid by Lendcr to thc
<br />� � r' '; �.:. � � � ' � Sserstruy�on.(�i)A.manthly charge instead of o mortgage insuronce premium if this Security Instn�ment l�s held by 1he
<br /> �,;�_�;'��;;; ' Sec�tnry. Twoh�mnmhly installment of the mortguge insurance premium shall be in nn nmount auificient to uccumulnte�he
<br /> �;;,;:�• ' fuU�annuol nm�taA a inFUrance premium with Lendc�one month p�ior to the dAle the full aonual mortgage insurance
<br /> �y � • , pnemium is dua tA t�a Sacretary:or�f this Security tnstrument is held b�r the Secrewry,each monthly churge shall be in an
<br /> ,� amount equAl lo ona•twalflh of one-half percenl of�he outstanding principnl balance due on the Note. ��;�:,
<br /> If Borrower cendan:to Lender the full payment of oll sums secured by this Security Ingwment. Borrower i+account �;�
<br /> ,,'�'• ,:;r' 4: • �'r:';;`i; shall be credited with the balance remaining for all instnllmentx for items (n). (b)and (c) nnd any mortguge insurunce ''
<br /> ' '.�'•:�; • ;?��� ' pnemium instAllm�nt that Lender has nat become obliga�ed to pay to�he Secretury,und Lender sholl promptly refund any
<br /> •. ,,.¢,..;.
<br /> •:,•t;.• eacess fundc to Borrower. Immediately prior to a foreclosure ude of�he Property or its ucyuisition by Lender.Borrower's
<br /> ��s .'�� � ''-�' � - , • :::';�•E accaunt shsill br credilad with any belnnce remuining for all instullmen�.w for iten►s(u),ib)s�nd(c).
<br /> • s' r;:�;�.,• 3. A 1[c�ti�of 1'hyments. All payments under Pamgrupha I and 2 sh�ll bc upplicd by Lendcr as fallows:
<br /> j 1"i,;��.,;�:.�, �to the m�rt�tege intiumnce premium to be puid by Lender to Ihe Secretary or to the monthly chcu�ee by�he .
<br /> •�,,,:,.. �����`
<br /> � ..`;.�i r�,;5, ,. Secraw in�;tead oP the monlhly mortgAge inxurunce premium: �n.;
<br /> . t, �,to nny taxes,spcciul asxestimentti.leasehold puyment.ar graund�ents,end fire,flaod nnd other hazard
<br /> ��.,• ' � insurancc pr�e�iuma,usrequired; ,
<br /> ��,, .,:� �, ;�,.�_=..,� . TH�.t�i!ltt►PCt d�►r under Ihe Nae: •
<br /> ��T'4!1`,!F�
<br /> • y,...,.� �� � ' FOURTH,to amortization of the principal of Ihe Nwe: .
<br /> � `''�'�`��'��'• ' to Intc chur cti due unJer�he Note.
<br /> ' �1''�'?,i;�! 4.�FTijrie.67ood ond Other N�zard In�urance. Barrower�hull insure ull improvemenls on thc Propeny,whethcr now
<br /> '^. "�� • in existence or subsequenUy erected,s�gains�any huz:uds,casuultics.and contingencies. including fire,for which Lender
<br /> �.'�;;��.�' ' • �,;;;r• �� requires imurance. This in.rurance shall be maintained in the Amuurns nnd for the periods that Lender reyuires. Borrower
<br /> •i'.,•,,,.'. � ' `c;.,' xhall also insure all improvements ora the Roperty,wheth�r now in exititence or+ubxeyuenlly erected,ngnms�lasx by floodc
<br /> `"'� �,;,;,, • to Ihe extent reyuired by the Secreturv. All insurance shull bc�currieJ with rompnnies upproved by Lender. 7'he insurnnce
<br /> f,,.;; �
<br /> ;.. . ,;��,:: .• policies and any renewals shs�l) t�e held hy l.ender und shull includc lo.r•. payuble clauxes in favor uf. und in u form
<br /> ti acceptnblc to,Lender.
<br /> ,�r,,� , In 1he event of lus�, Bi+nower shall give Lcndcr imnhJiu�c noiicr hy mnil. l.ender may muke proof of loss if nat
<br /> � �„ mude promptly by Borcower. Fach insurance compuny concrmed i.herrby authorized and dirccled to make payment for
<br /> ���.�..� ,,,t, such losr diriectly to Lender,inslead of to Borrowrr and tu l.ender j�iintly. All or any puR nf�he in�urc+nce proceedx muy be
<br /> ':',�;::'': applied by Lender,at its oplion,either(u►to ihc rrJuction ul�he indebteJne��under the Nute und thin Secunty In,trument, "
<br /> ,� , • fint to any delinyuent um�wm�applicd in �hc onier in Puragr�ph ;. anJ then k� �puyment of principal, or(b) to ihc �;;
<br /> ,, ' '�c.',` resaration or repuirof the damaged propcny. Any upplirution+�f�hr pr�kred+to ihc prinripul�hull not extcnd or pnstpone `i'%,r
<br /> the due date of the monthly puymentx whirh arc rcferrrd �o in F'uragraph ?.��r chunge�h�umount of,uch paymentti. Any
<br /> , excesti insurance proceedti over an um��un� nyuircd tn puy all ouhumding in�k h�ednc.. under the Note und �hix Securiry � .
<br /> .! �..`•1„ Instrument ahull ix paiJ to thc cntin• Icg:ill�•cnliticd thrrcto.
<br /> ,.. � In thc evcnt o(f'oreclosurr uf thi. Srrurity In�Irumem ur o1h�r tran.l'cr ut litic 1�� th� Propem• that eztinguisher thr �1 ,
<br /> ' ind�htrJne,x.all righl.tiUc anJ intrr�,t��I'liurrmv�r in amd�o in�urancr pulir�e,in turre,hall pati�t�i�he pureh��ur.
<br /> ����r;�. 5. Occupunc�: 1'reser�•adon. Muinlcnanre and 1'rotecNon of thc Propertp: Bnrrower'+ Loan Applkation:
<br /> "'�.%,`•.�. � I.easeholds. Borrower�hall occu r.tubli+h. and utic the F'ra n �. Nurratier� rinri al r��Wrnce w•nhm rtxt du . '�
<br /> � . ,5,�,?'. py. 1'� Y � P P Y Y�
<br /> uRcr�fie execu�i�►n of thi.Serurily In+trumem:md sh��ll ronlinuc to�xrup} thc 1'n�prny o.l3urroN•rr;prinripul r�.�dence f.
<br /> ;�i�S,,;�i. ,�: � ' for at Icast onc yc•rraftrr thc datr uf�xcupunry.unlex,Ihr Serretar�•Jrtennine, Ihi�rcyuiremcnt�cill cuusc unduc hn�dship �
<br /> ' �j5�y::"�. l for Bortawcr. or unle�ti cxlcnuwing circum,lanrc, czirt which :uc hy�md Rurr�,��cr� c�,mn�l. Barn�ac� shull notify 'r ,,
<br /> I L�nden o(uny ext¢nuuting cirrum.wnce�. Burruwrr tih:�ll na�rammu a•a.tr�,r de.vuy.damugc ur .ubstantially chun�e `, ;
<br /> the Property or ul low the Pra{nn�•to drtrriuruie.na��,naMc u•r•rr+ind Irar rrceptrJ. Len�lrr may inrpect Ihe Propep}•il'the
<br /> � • � Property is vurunt ur abandunrd or thr loan i,in d�i'auh. Lend�r ma� iakr reati��nahlr:►riion t��prutcr�and prc.rn•e wch ,
<br /> � •, • I vucant ar abunJoned Pn►�xrty. Burnn�•cr.hull ul,u Fx in d�f:uili if H��rr�����rr, during the laan uppG�auon prorr�.,gavr •
<br /> ' .. ,! ,',,I matcrially fulu or inuccur,ur mG�muuiun „r .�alrmcm� �n L��ndcr �„r lailcd tu pr����idc LrnJ�r �vith any matrrial .
<br /> intiirmationl in ninnecti�►n with the li�un r�•iJenred b} Ihr�iutr, inrluJing. hin nut Iimil.d to.rcpre.entation.ronreming
<br /> ' ' • I Borrow•er'succupancy c►f Ihc I'�-u�xrty a�u prinripal retiidrrn•�. If'thi.ticrunt� In,�rumen�i��m a Ieuuholc�.B�irraecr.hall
<br /> ' •• " I comply wilh thc pn+�i.irm�►f tlx k u+r. II'Rurruwrr aryuuc.t.e�iUr�„�hr fh��p�n}.thr I�asehold and tec lulc �hul)nut .
<br /> . �r.: ` � . ix merged unle�s Lender aErei.lu thr mrr�cr in wriiing.
<br /> "��,r,•:�� � •. ',� ` . 6. Charges to Burruµ•er ynd Prulccti�►n oP Lender's Ri�hts in Ihe Nroprrt�. Rorn�H cr.hall pa} all guvrn►nuntul
<br /> ::'!,,,� ' ',� �. : ' , � or muniripal charge,,finc,anJ impu�ition�thut arc nul inrlucird irt 1'ara�:raph�. tiurroHrr.h:�ll pay Ihe.c uhli�atium��n
<br /> • • �ime directly �o the entily w•hich i� oacJ tlx p:��mrot. II failur: �u pay ��uu1J uJvrr.eh� a(frc� Lcndrrl interr,t in thr ,
<br /> � . Property.upan L�nder�rcyuc�t &�rrow•cr.hull prumptl� f'umi,h to Lrnder re.cipi,r�•iJermin�th�.e pi�}•mrm..
<br /> � If Bnmou�er I'ril. tu muk� �hc,c pa�•mrm� ur Ihr paymrnt. nyuircd hy PuruEraph 2. i,r f:iib tu�xrli�nn :�ny othcr
<br /> covennnl.und ugnement,cuntuincd in thi. Scruril�• Imtrumrnt.ur therc i.a Ie�.al pr�xerdin�thut m.�y.i�:niiicanll�•ai1'ect
<br /> •.�-- -. 1 P�i.�r:.;ah�.in �h�• Pmrr�nv nu.•h n. a nnk•rcdine m b:u►kruntr�.li,r ronJcrorrniun��r iu rnti�rcc lu��•�ur mEul�tiixi�).
<br /> — T. .- then Lender may do unJ p•ry wh•ri�vrr i�ii�re„un�to pru�rr�thc.:dur of the I'ra�xn}anJ Lender's righ�+m thr Pru�xn�•.
<br /> 1 includin�:paymcnt uf laxe.,haiarJ in+urunrr and i�iher nrm.mentiuned in Nara�r;�ph�.
<br /> i� Any umountti Ji�buneJ by l.endrr undcr Ihi+Para�:raph �hall Ixromr•rn uJJi�ianal drht uf Horru�,�rr and t+�.rcurrd
<br /> • 4� ,, , by�his Securily Instrument. 'I'hc+e amount.tihall hrur intcrr�t i'rum thr Jatr at di•hur+rmrnl,at Ihr N�►te r,ttr,•rixi at ihr ,
<br /> option of Lendcr, .h•rll Ix imm��liutrly Juc anJ pa�aMc.
<br /> � 7. Condemnalinn. 'I'he pnkrrJ,ul'any award ur rlaim for dumarre durrl��r run.ryucntial,in runnrrtion ai�h an�
<br /> + • ! k' , rondemnatii�n or ulhrr�ul�in�uf un��part uf'thc Pn�xn}�.ur ti�r runvc�anrc in plarr nl cundrmnation.arr IkRh)'8��1�'11C�I
<br /> • and�hnll tx paid to Lrndrr to thc.xtent of thc t'ull�muum uf Ihc indrhtrJn�.�that rcmain.unpaid unJcr thc Nutr anJ ihi.
<br /> Securiry In+trument. Lrndrr�hall•rpph•wch pnx��J.tu thr r�Juctiun al Ih.in.lehteJnr..unJrr thr 1`at�•und thi.tirrunt�
<br /> Instrumenl, fint to any delinyuem •rmounl.;�ppGrd m the onler pru��iJrd in Para�raph �. anJ thrn tu prrpa�meni uf
<br /> principal. Any appliwtion ol' �hr pnxced.�u tlx principul .hull n��t rttend or Ew.qxair ihr dur dotc ��f the munlhl}
<br /> � �ry¢r:n�J ry¢r.i �
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