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<br /> 1. Pa a�eat at Pritcip�lakrest and l.ate Cb�r�e. Bortuwer shwll pay when duo Iho�ipd of,u�d intaast on.
<br /> �he tbM ev�renced by 1he Nate rnd lote chugcr dua under the Note.
<br /> 2. Mont6ly p�ymeab a�'I�xes,lawrance�wd Ot6er C Borrower ahwll include in cach monthly p�ymen�
<br /> toQetl�wlth Ihe principrl and intore�t as set foAh in the Notc�any late chuges�,wn inWallment of my (o)tuea�nd
<br /> �pecid asse�menta kvled ar w be levied againat the F�nperty.(b)lea��ehold p�ymentr or�round maw on 1he Pro�ty.�nd
<br /> ��• (c)pr�cmiuma for insurAnce requi�+ed by Paragrnph 4.
<br /> `� F�ch monthly installment for itema(a),(b)and(c)sh�ll eqwd one•twclfth of�he wmual amounb, as rcasonably
<br /> ;,,". eatimated by Lender, plus an amount sufficient to meintafn an additlonal balance af na mo� �ban one-�iath of the
<br /> esllmated amaunts. The full annual amount for each item shAll be accumulated by l.ender within w perbd ending one
<br /> month befar�e an itcm would became delinquant. Lcnder ciwll hold the amounts collecled in trus�to pny itam�(a).@)ind
<br /> (c)befbre they become delinquen�
<br /> If at eny tlme 1he tatal of the payments held by l.ender for items(a).(b)nrid (c).tagether wilh the futw�e monthly
<br /> N '`�' � paymenta for such Items payable to Lender prior to the duc dates of such items, eaaeds by mae thnn one-sUlh the
<br /> �, .,�� - cs8matod wnaunt of paymenic�equlrcd to pay such items when duc,and if payments on the Nota are cuureut,ihen Lender
<br /> ` shell eilher refund Ihe excess over one-siath of�he estimated payments or crcdit the cxcess over one-sixth of the esdmsued
<br /> ��` �'°°'� .�` paymentx to subsequant payments by Aortower.at the option of Borrnwer. If the total of the payments mAde by Homowcr
<br /> " tr�;: ' :'� for item(a),(b),ar(c)is insufticient to pay the item when due.tF�en Bormwer shall pay w Lender any amount oececcary ta
<br /> y.`''`�=��` '�'� '�''"` m�ke up tha deficiency on or beforc�he date the item becomes due.
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<br /> _�����,�:'"•�� Aa uscd in�his Secudty Insuument,"Secrctary"means the Secrctary of Housing end Urbar�Develapment or his or hec
<br /> •-�' '�;4:�,;.; +;}�'c designee. In any year in which tha l.ender must pay a mortgage inaurence premium w Uie Secrctary.e�ch monthly payrnent
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<br /> o.�:_,,,$: shrll also include either. (i) an installment of the annual mangage insurance premium ta be paid by Lender ta the
<br /> I 1 .i• �,,��,. �:�.�. � .^_•,:;M: Secretary.or(fi)a monthly charge instead of a morigage insurnnce premium lf this Security lnsuument is held by 1he
<br /> Serretary. Each monlhly installment of the mortgage insuro�ce premium shall be in nn amount sufficlent w accumulate 1he
<br /> :" � ' ° full annual mangage insurance premium with Lender one month prior to the date U�e full annual mortgage inswwnce
<br /> •• ; . . , premium is due to the Secretnry;or if this Security Instniment is held by the Secretary,each monthlycharge sholl be in nn
<br /> ' . ' , amowtt equal to ons-twelBh of one-half percent of the outstwtding principal balunce due on the Nwe.
<br /> Y� ` , . If Borrower tenders to L.ender the full payment of all sums secured by this Security Instrument,Borrower�s account
<br /> �. � ' �. ' • shall be credited wi�h the balance remaining for ap lnswllments for items(a),(b) sind Ic)and an mortgage insurance
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<br /> ' '�"�� "� pmmium installment that Lender ha�na became obligated to pay to the Secretary,and Lender shall promptly refund any
<br /> � �., ' excess funds to Borrower. Immediutely prior to a foreclosure sale of the Propeny or its acquisition by Lender,Borrowet t�
<br /> account shell be cr�edited with any balance remaining for all installmen4s for items(a),Ib)und(c).
<br /> 4, ,. � 3. A Ikadon of Pnymenfa All pnyments under Paragraphs 1 and 2 shall he applied by Lender as follows:
<br /> " ; . Q$�to the mortgage insurance premium to be pald by L.ender to the Secrewry or to the manthly chuge by the , �:•�
<br /> • � Secre instead of the manthly mongoge insurance premium; `
<br /> • �.io any iaxes.spz:.iei as;esrnietrtn.l�seiatd payu��tn�r gruwni��ot�.mµi i�rc.i7ooi!and olher hazard
<br /> . ° in�umnce premiums,us required;
<br /> . . � ' THIRD,to interest due under the No1e;
<br /> "�. FOURTH,to smwrtiwtion of the principal af thc Notc;
<br /> • ''."'"�., . •• , , QEQ{,to lute churges due under�he Note.
<br /> , 4. �irq Plood a�d Other Haznrd Insurance. Borrower shull insure all improvemants on the Property,whether now �' �
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<br /> ! � �, in existence or subsequently erected,�gainst any ha•r.ards,cosuuUies,und cantingencies,including fim, for which I.ender
<br /> � ' • • ' requinas insurance. Thix in�uronce zhall 6e mointuined in the umounls und for the periads�hat Lender nequires. Borrower
<br /> " shall also insura ull improvcmants on thc Property,whether now 9n existence or sub�quently erected,ugainst losti by floads
<br /> � to Ihe extent requir�ed by Ihe Secretnry. All insurnnce+hull t+e cnmed wilh companies upproved by Lender. The insurance =;�.
<br /> °• . ' policies end any renew�ls shull be hrW by Lende� and shall include lo�s payuble cluusez in fuvor of,and in a form
<br /> ,�, -� acceptable�o,Lender, r�•-
<br /> •�� : :,; . In the event of losz,Bamiwer shall give Lender immeJiute mKicr by muil. Lender mny mnlce pmof of loss if not
<br /> .;� mode promptly by Borruu•er. Euch insurunre rompuny cunccmeJ i.he�cby uuthorized und dircetrd lo make payment for
<br /> 5 � , such loss dirertly to Lender,instcud of to Borrawer;uid to Lrndrr jointly. All ur uny puri of Ihc inxuruncc proceeds mny be
<br /> applied by Lender,at its aption,either lul lo the rcduction of the indebteJne�,undcr tlx Note und Ihiti Security Inztrument, Y��
<br /> � , . fi�xt to any delinquent Amounh upplicd in the order in R.�ru�ruQh ;, und then to prep•ryment of principal, or(b)�o �he _
<br /> i . restorotion or repa�r of the dumuged property. Any upplirution ul thc pnxerd,to�he prinripal,hull nd extend or poupone
<br /> i ' the due date nf�he mnnthly paymem.which nre r��frrr�•d a�in P�r.igraph 2.nr change�he amnunt of+uch puyments. Any
<br /> � •: " .. �� excess insurance prcxeeds over an wnount reyuircJ to pay all out�tandinF inJrhtrdne+x under the Nae unJ this Security '�1'
<br /> ' Instrument shall be p•rid w Ihe rntity Icgally rntided thrrelo.
<br /> ' In the evenl uf fureclowre cif Ihi�Securiry Instrument or��thrr trun,fcr of lidc tu thr Proprrty tha[extinguishes the
<br /> indeMednc�y,ull righl,tille and intrre+t of Barr��w•rr in and ta in�uranre Ex►liri��in t��rrc.hnll p:�..a.d��urchaur.
<br /> ' S. (kcupancy, Preservytion, Maintenance und ProterlG�n oP Ihe Propert�; Borrower's Loan Applicwtion; �=M�
<br /> ' � � Leaseholds. Borr��wer �h;►11�xcupy,r.�ubli,h, und u�c the Propeny u. BuRawer: prinripal rr�idrnce within sixty duy� ��;���;,.
<br /> ufter the exerution of thi.Security In�trumrn�ond tihall rnntinue�n�xcup�• �he Propeny a�Borrnwrrk principal rexidence ;?�S.
<br /> fur ut leust one year aflcr Ihe datr�if��ccupanry,unle�.lhc Secrclary Jrtrm�i�x,Ihi.rrquirement will cuu.e undue hurdship ' '"��
<br /> � � , far BoROwer, or unle+s extenuatinE circuni.tancr+ rxi�l ��hirh am ixyond Bortow�er: rontrnl, Borruwer �hull notify .
<br /> Lenders af uny extrnuatin� circumstancr.. Harrower,hull not rannnu was�e or Je,trua,dam+�ge or+uh.luntiully change �1
<br /> • the Piroperly or ollow Ihe Propcny to Jetrnorute,rcu+onuble wrur und�rur cxcepteJ. l_enJcr mup in.�xrt thc Property if thc ��
<br /> . Pmprrty is vucant or abandoned ar thr loun i,in clefnul�. Lcnd¢r may tuke rrasanablr urtion tu pru�ec� und�re,erve xuch �!
<br /> , �,:;�.•%' vucunl or ab•rndoned Ro�xn�•. Hormwcr�hall aho Ix in drfaidt it Borra��cr.durinE ihr luun upplication prix��,.�ave '
<br /> `� . mutcriully fal�r �►r inarcuratc ini'i,mwtion ur �latrmrnt. tu Lcndcr ���r 1'ailcd Io pruvide Lrndcr �vith uny mutetiul �
<br /> ��' information)in cunncction wi�h thc loan e�•iJenr�d h�•the Note,inrluJinN. hu� m�t IinmrJ a�, rrprrxntali�x�s cuneeming !
<br /> �� • . , �. Borrower's orcupunry af Ihe Propeny u,u prinripul re�iJenrr. II�thi.Srruritr In.�rumrnt i.on•r Ieu,chuld.Bormwcr�hull �
<br /> • • . � comply w�ilh Ihe provi.ion�uf Ihr Ir;i.c. If Borruwcr aryuin�tcr ti11c 10�hr 1'rupcm�,ih�Icacchold unJ tcc tiUc,hall ni� .
<br /> ' � � •• ' bc merged unles�Lender agrrc.to thc mcrgrr in wri�ing.
<br /> �"� ' 6. Charges to Borro�er and Protection of Lender's Ri�hl�c in the Propc�t�. Narrowrr.hall p�y •rll�oerrnmrrnal �
<br /> � or municipal ch•rrgc+,finc�anJ impnsilion,thul ure nut includrd in Paragraph�. Horro��rr,hall puy thr,c uhligatiun.ixi
<br /> • time directly to Ihr entity w�hirh i+o�►•cJ thc paytnrnt. It'I'ailure �o pa�• w•ould ad��rnel�•:�ffcrt LrnJcr+irnen.�in thr ,
<br /> �_ _ _ Propeny,upon Lendc�.nyuc,t Borrow�cnhull promptly 1'umi.h io Lendrr rereipt+e��iJenring�hrx pa�mcnt,.
<br /> --� -- - ii nai�iiiwci iuii+iii iiiu�c iiic�r Fra�u�cul+ ut InC �a)�fnCnlh reyuinu hy raragrt�pn :.t►� TJII♦ �o pertorm uny otner `
<br /> . .�--- covenants vnd agrcrments conluined in�hi�Securily In.trumrn�.ur lherr i.a Iegal pr�xeeding that mav.ignific;mtly al'tec� ,
<br /> 'R Lender�rights in the Prapeny(.uch a,a pnxerJin� in h;u�l�ruptc�•,Gir rundemnaliun ur lu rnti�rc�lu�„or n�ul��i��n.�.
<br /> � then Lender mny du:md pay whutrvcr i,nece+�ar�•to pruterl�he vulue��f the F'raExrty anJ Lrnder:ri�ht.in thc 1'n�x ny.
<br /> . including paymcnt of�uxes,h�t•rrJ in�urance:mJ uther ilem+mrn�ioneJ in F'�.�ruEraph 2.
<br /> , Any umounts di�buracd by Lendcr under thi+Para�raph+h•rll h.rcrntr an adJitiunal drhi ut'BoROU�r anJ bc .�r•urrJ
<br /> by Ihis Security Insuumenl. Thc.e mn�ium. .hall ixar imem.t fn�m thc d�tc af Ji.huncment,lit Ihc Note mtr,and at �hr
<br /> � option of Lender,shull be immediatcly due and p.►y�ni..
<br /> �� 7. Condemnafbn. The pnxcedti of:u�c award ur claim 1'or Jamug�.,dircct��r c�x�.eyurntirl,in conne�tion�i�h uny
<br /> � ' � condemnation or ather tukin�r of uny purt��f t�e 1'rapeny,or fur com•ryancr in place of canJcmnatiun,arr herrb�•a.+i�neJ
<br /> , s+nd shnll be puid w Lender to the rx�en�of thr I'ull umaunt ot'thr inJrbteJnr„th•rt n main.unpaiJ unJer tl�Notr:md thi,
<br /> Security Instrumem. Lendrr shall apply,urh pnxeeds ro thc reductiim of the inJrh�eJne.�unJrr thr N�ne:md thi�Securit�
<br /> � _ . _ Msin�ment. Fir�t tr un)• delinyuent amourt> upplicJ in th�� ��rdcr pmvidrd in Paru�raph a :�nd th�m t.�rn•p:i�•meM of
<br /> �� - principal. Any uppliration of the proceeds lo the principal �hull not eztend or pntitpone the dur datc oF thc m��nthly
<br /> � �r+re�•2��!r raer,�
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