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<br /> _ 1. t ot Frindpal,Ld�erGSt and�I.atc Charge. Bmmwer shall�ny wheu dua��aci�ut of.�end interrst on.— � —._ _
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<br /> �. NEo�ti�}�Y ps�ents a�'t��es.Iasursat+�ead Q3�er C��rges. �omower shaII t�cI ia'�act�moAl�eh►�+�a� .
<br /> - togetAer with the prta�pa�eud int�st es set fortb in tj�e Nate and�a�y late c�gea.aa in�t of any(q)�aud ,
<br /> - special e�essmeats tavted or oo be fo,vied egainst�1te PYapeity.(b)leasehoid paymems or ground te�ts en t�Picoperty.aa�d
<br /> � (c)pre�iums far insurancei tequised by Paragtaph 4. .
<br /> BasA manthty Instaltme¢t for items(a�lb)ead(c)sha11 eque!ane-tarelfth of ttte mmnal ammmts.$s t�easonab�y
<br /> estuoaied by l.eader.Pius a� emount suffici�at to maia�in en mddiaoaat 6alance of aat more than aae�i�th cf tt�e
<br /> - - - es�d� 'l1�:A�l�annuat amount for eac�item,.sball be.aocumutated.by I�endet withirt a petioa ead'm aae
<br /> ------ moath befoie�itdn wauld beoome delanque[eL Leader shall hold t�e ambnats catlected in fiust to pay i[ems(8�.(bj aad
<br /> � � ��= -� - ' _ _. . ...__..__ ..
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<br /> — If at any time the mm1,4f tlte paymsnts heId by Lender for items ta�(b)and(c).tagether wlih the fiitias mointliTg
<br />� paytne�ds for such ttems payabie.co Leader prior to t�e due d�ates of such item4,exoee�s by mose than one-sixU►d�
<br /> _ ���,� esnnQated amount af paymeata r�luic�d�opay.suc�►items amea dne,aad ef payanents on the Ndte ate cur,�ent,d►ea i.eadar
<br /> -- - sDaU eithes refimc!the exaa�sver anc-sixth of ttie estimated paytttentc or c�edrt the.exce�s over oae�sbcth oY the�sed
<br /> _ -ry,� payments to snhsequeat FeY�nents hY Boaow�•at the optioa of�$ormwer. If the wtat of tRe pay�aeats made by Bmmower
<br />�.�., —__ foritem(a),(b),or(c)is insss�ic�eat to pay the item when d�then Bomuwer sltaUpay to Leader any amo�mt ne�sary to
<br /> _-====� mak�up ttte de8ciency on�or..Defore t�e date the aem bocomes due.
<br /> - . As used in this S�an�tty,Iitstn�m��-"Sec�etasy"tnraas the Secxetary of Housing end Ut6aa Developm�n or tus or her
<br /> —=�'=-`-_��� desigaee.Ia aay year'�n hiw idi tks Leuder mustp ay a mortgage iasuiance ptemium ta t�e SeRetary,each ;moadilY PaY�� .
<br /> �--=�^�'� sAall a/so mctude either: =i�}an it�aallment of the annual mmtBaBe insivauce psemium to be paid by L.euder ta the
<br /> _���� Secretary,or(riy a monthly:�'aistead.of a mongage ins►uance premium if this Se�vnty[nstrttment�s held by dte .
<br /> ' Se�etaiy. F.ac6 moatbIy iltstalta�of t�e�ast�i$e inc�,ranc�•p��um shall be i»an amoun!sofficient tu soc�tmulate the
<br /> ;°5��.=�=T'`�'' um aith E�nder on�month priar to the date the fuU annua! �.-�.°° . _
<br /> ,�: fiill annuat mortggge inseiuiproe pi�mi _ --
<br /> --,--��.�t-:°��;;_�,:. ptesnium is due w th�5eat�tary:or i�th�s Secarinr Tnstnunent is he2d by the Secretary.each mantisly�6e Ta 3a. � _
<br /> y � ' amovai equal to one-melfliF of one�6alf peroent of the o�adiIIg PrinciPal bataaoe due on the Note. -� . —_.-
<br /> ', i--= { -- If Boirower temdecs ta R�er the fn11 pay�nent of�if�s aecu�ed by this Seauity Insue+meni,�auvver'��ooc�a.*st. .. - _
<br /> ��"�-�`�*"� � shall be cTedited vn'ih th��tittl.ance�emain�ng for all uis�for items(a).N)and(c)and any mortgage ins-�e ..
<br /> �`�'�`�''���' premium inst�_�t ceat•3�(ider has not 6eoame obligazed m pay w the Secnetary.and Lender shaU pmmptty refaad aay" .
<br /> �:.�k .�;. � � � . --
<br /> �� excess funds to Bemnw�r�ITqmediately prior eo a fareclas�ue saie of the Ptope�ty or its acquisidon by l.ender,Boaowe`'s -__
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<br /> ..;}.:.. axount sdall be cred3ed with ita�►balance iemaining for all instaltments for items(a),(b)and(c)•
<br /> �`�<<�`y`'G...� ,�'� 3. AppIIcat�n of PbyatciN�_Atl PaYments under Para�aphs 1 aad 2 shalt be aPpiie�bY Lender as follows: -- ----
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<br /> �: ,...�• FINST,to the mottgage iasursnce pnemium to be paid by Lender to the Secretary or to the monthly chatge by tt� ---__-
<br /> � `�::`�:'' ,. � :.' Sea�tary instead of tAe maNAIY mortgage�aswance preau.um: __
<br /> — : ,. :�L� SB,��,p w aay taxes,apa�iatassessments,leaseho2d payments or growid rents.aIId fue.flood and other hazard =__
<br />_ "l' . -•, . �u.�.�' jrS.qtnanp2pIEII�lUI17Sra9ICQU�PI(�• —_-----
<br /> �� °� �Q,to inteteu dua under�e;Note: � -
<br /> �� POITRIN.to�nortixation of ch�,plincipal of the Note; �,�,n
<br /> :� �„,` �' �, �,to late charges due undar.filtc Nate. • - -
<br />�` : ti ` ., ` '� �..F3r��oad and�tDer 8&aecd�Insurat�oe. Homnv�a s"sall inscu�ati.impmvemerm on the Pro�.wket�zsear ;:,�� -
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<br /> .t�.. > .,� . in existence or sab�ently encted•�gainst a�ry ttazards.c�aaT�es,aad aautingenc�es.inctuding fi�far�� �.��a�t���=
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<br /> --..._,. �:.',• uires inswa�s� This insurance shult 6e�med in t�e amowats�.far i.'�e periods that Lendec�: 8� .. .
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<br /> shall siso insvre aII impruvements on che Propaty.iYhether naw in exIstenoe as subsequendy erected agaiast toss.�y�ds � ,, f��
<br />�'� � to the extent tequired by thn Secmtary..All insurance shall be cartied with companies approved by l.ender. Thm ir�roe �`°.��5�
<br /> �-:�y�.,,,�_� ; policies and any renewals shali be hald by l.er�der and si�all includa bss payabie clanses in favor of.and iit a fas�n a, �;;a�1i���;-
<br /> ,•,, , .. acceptableto.l.ender. �'��`��Ya `}� �-
<br /> , In the event of loss.Sorrower shull give Lender immediate aoqce by mail. Lender may make proof of loss if not ' ` 9+..;t•,��$'
<br />- �;,+���.:�`.�', ° made promptly by Borrower. Fach tnsurance company concemed is hereb authorized and directed to make ayment for 6 � ��•:�°
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<br /> �I;�.j;, : ��,�` suc h loss d i s e c d y t o L.e n d e r.i n s t e a d.o f t c B o m a w e r a n d t o L e n d e r j o i n Q y. A I I o r a n y p a rt o f t h e i n s u r an c e p r u c e e d s ma y be `'-_��� ':!: •�� ,�,
<br /> � � app lied by Lender.at its option,eishct�a�to the reduction of the indebtedness under the Note and this Secwity insuument, ��':� _
<br /> fust to any deli�quent amoun[a apptidd in the order in Paragraph 3,and then to prepayment of principal.or(b)to the `: ,� .; �` _
<br />_ , ., ; .. ._,;�,;` restorauon or rePau of the damuged�rope.rty Any applicarian of the praceeds to the principal shall not extend or postpone ,,�� ;: ;,,
<br />_ '�._ ihe due date of the month ly ps►ymanta w t u c h�are re fe rt e d ta�P a r agap h 2,o r c h a ng e t h e a m o n n t o f s u c h p a y a�e n t s. E�n y ',,:y,'�<<t
<br /> ' ' `'F� axcess insurance�raceeds over•am amount requu�w par a11 outstanchng mde6tedness under the Note and this Secruity :, ..�:i���k'�. '
<br /> � i��'�� • �� . � . � Instrument shait be�sdd to thn.enaty tegally ecr"x5��. }' `�?Z��:;.,�,: �
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<br /> `,ai,•����,..>�;;. •:� �� trl the everrt of faieclosure•of this Sec�nirv f.�atnur:�a or other vansfer of title to the Property that eMinguis�..ps the � ��{ti;•��•;�;;: • �,:
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<br /> •..i.,,,- �t�:;,:: in4etstedaess.all righ�titla and Fr.terest of Borrohrr ui a�d cv:nsurance policies in force shall pass to the purchaser• '1,?�,;:;?.,�,r,..:'•.�,,•;.i!:;:
<br />- '`' �t�:;',.: 5. Occupancy, Pireaervuiaon, Maintem�,pe c�d Fe�a�ectton of the Property; [fiarrower•s Loan A�gf�cs�dioa; : `�1;�-�`y�,,t"�;��,, . ;>��:;,.
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<br /> - `_.: ;;:. . Lease6oids. Boirower shalG�orcupy.establish.:�rd�e tt'.�Ptoperty as Borro�cr's princ:pa� msidence within sixcy days �. . K�,.F�' ...�;.�-t.:�
<br /> % atter the execudon of thia Seeurity Inswment�sftal!c�r�inue ta occupy the Pr+apercv�Borrower's principal residence ' , ''�1��s�; •�' `�
<br /> ' .. �. :;• for at 2east one year after thn dute of occupancy.cir►ess ch�Secretary determmes this requiremcnt will r�use undue hardship :�. ,; �;,t .<.
<br /> � � '•';;��� ` ; for Botrower.or unless ext�nuating circumstacr�es e�in gfiich ara beyond Hoaower's contro l. �aes�rwer s h a l l noti f y � :'.�s.;,;4,: '- � . •
<br /> �','`. -'����.�":r�:�';°�� .'� Lehd$rs of any eatenuuting•cltcmrrstances. Barrower shatl r.�2 commit waste or destroy.8amage or substantiulty change .�;=;;�'::,�;;`�',, .
<br /> t�; "�`�«�'�"�� �= the Ptope�ty or allow thn Property to deteriorate.reasonab:e cx��ar artd teur excepted. Lendea ntay inspect the Propetty ef the ��
<br /> � �tiCs::�t��;�'_,+_.'; c .,o
<br /> ;�ii : .��:.. _;_, Aaperty is vacaat or abundoned or the toan is in default: Lender may take mationable ac[ion to protect end pre�e such >�`
<br /> ; � • vacant or abarrdonad PMOperty. Borrower shall also be in default if Borrawer,during the loan app}ic�ton pracess�gave
<br /> ; �:�°� : "�, `,�``� • .';`,., matertally false or intec�umte infortnation or statemenu to Lender (or fnited to provide Lendec wsth any matenal . ° .
<br /> i;�� .: .. . infamsaiton)in connection with the loan evidercced by the Note,including,but nut limited to,re�rcser.casions conceming
<br /> ' Harsr,wer's occupunay of thu.Ptvperty as apnncipal residence. If this Secunty Instrument is orr a teasehold,Borrower shall � " '�•• ,
<br /> : , ;,.�.: ,;:..
<br /> ��, . comply with tha provisivas of the fease. If Borrower ucquires fee title to the Praperty,the 3�.isehold and fee title sh:stl not
<br /> �t � be in.,n:rged uniess Ixnder ngrees cv�fid merger in writing. �'�";:.�.,;�;-','.
<br /> ,;z.� ' . 6. Chsr�es to Borrower aud�rotectFon of Lertder's Rigdts in the Property. Bortower shall pay all govemaental � ,
<br /> �; ���:. •. � or municipal cAarges.fir�os and impositions that are not included in P3ragraph 2. Borrower shall pay rhese obl�gations on .
<br /> � - � ' time directly to the entity�which is owed the ps►ymeaa If failure to pay would adve�sely affect Lender�s interest in the
<br /> - ' � �i Pruperty.upun Lender�tequest Botrower shall pmmptly fumish to Lender receipts evidencing these payments. .
<br /> �� :� '•,-`�: .�'.�!��.,} If Boimwer fail�to�make these payments or the payments�rquited by Paragraph 2.or fails to perfoan any ar.her
<br /> • cavenaats and agreementacontained in this Secur�ty insm�men�or there is a tegal proceeding that may sign�fcantiy affect
<br /> � . .. . •' .S• � Lender�i rights in thn Ptopeny(such as a proceeding in banktuptcy,for condemnation or to enforce taws or regulaL�ms),
<br /> L then Lender may do and pay whatever is necessary to protect the value of the Pro�erty and Lender�s rights in the Property.
<br /> � •'�.�"�� incWding payment of taius.huzaid insutance and other items mentioned in Paragmph 2.
<br /> -• Any amounts dis�ursed by l.ender under this Para�raph shall become an additional debt oi Borrower and be secured I
<br /> � ` � : • '` by this Security Inswraent. These amaunts shall b�v mcerest from the date of disbursement,at tAe Note rate.artd at the „
<br /> � , option of I.ender,shnll be immedisuely due and p3yu6te.
<br /> . 7 CondemnuHun� The prvoecds of any aw�d or claim for datnages.direct or roruequendal,in connection with uny
<br /> � • candemnation or other wking of any part of the Ftvperty.ar for maveyance in place of rnndemnation.are hereby ass��.ned
<br /> .' _ • � and s6a1!6e puid to i.ender to the extent of dee full amount of the indebtedness that remains unp�id under the Note and this
<br /> • •.� ' Sec9uity Instrument. l.et�der shall upp2y such proceeds to the reducrion of the iadebtedness under tfle Note and this Security
<br /> . .`,. �� ` Instcument,first to nny delin uent amounts applied in the order provided in P•uagraph 3. artd then to prepayment of
<br /> P�p� �Y eDA�������P��to the prmcipai sha11 not eatend or pustpone the due date of the monthly
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