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<br /> 1. h weot a�M�clpd�t�la�at�t t.su c�rp. �xxrowo�.i�.1i p.r wi�,�wro�iro pdoc:ipri ui.�nci wi ura -
<br /> the debt ev�denced by the Natc�nd lata ctwr�a due under the Nao.
<br /> 2. Monthlr p�yMenu d'hxer,Inwra�ce�ad Ot1M*ChatYe�. Bc�ower�h�ll Include in each moothly p�Yment.
<br /> togethet with the pritxipal�nd intere�t su�eet farlh in the Note�nd�ny I�t�e chu�te�.�n iivallment of any(a)taxas�nd
<br /> �pccfd werunents kvied a w be levkd�Qainct the PropettY.lbI ka�dwW P+�Y������u°^��ny�
<br /> (c)prcmium�for inwru�ce roqulred by Para�rnph 4.
<br /> _-�----n----- -n- Each m�x►thiy imta!lment for items(�), (b)and (c) �h�ll equ�l one-twclfth of►he w►nuel wnounts� +u rc�onaMY
<br /> � estin�ued by Lrnder, pluy a�i aniount suf�icicnt to maintain an isdditlonnl baluice of rxx morc thiu� a�e-cixth of the
<br /> eulmated amoun�c. The fiill annuRl�maint for each item Ftull be�ccumuluod by l.ender within �p�riod rndin�one
<br /> - month bef4re wn item would become delinquent. Lender�II hold the amounu collocted in wu to pay item�(a).(b)ad
<br /> (c?before they 6ecome delinquent.
<br /> --- If u u►y qme the toul af the paym�nts held by Lender for items(a),(b)�nd(c),together wfth thc future montltlY
<br /> p�ymenta for such iums p�yable to Lender prior to the due dates of such iums,exceed�by mo�+e than one-sixth the
<br /> es U m a t e d sunount of ptymcnts nqui�+ed topay such itemc when due.and if p� ments an the Noto are cument,tha�L.ender
<br /> 6 � ahall eitt�u Kfund tha ezcesa ovor one-sixth of the estimatod payment�or c�t the excess over one•sixth of the estim�ted
<br /> payment�to aub�eyucnt payments by Bomawer.at tha opdan of Borrower. If the total af the pnyments made by Rorrower
<br /> for item(a),(b),or(c)ls insufficient to pay tho itcm when duc.thcn Borcower sh�ll pay to Lender au►y�nwunt necestary to
<br /> - makc up the deficie�xy on or before che dau the item becomes due.
<br /> As used in this Secudty Insuument."Secretary"meAnc the Secrctary of Houcing�nd Ucban Development or hls or her
<br /> _- designee. ln any year in which the L.ender must pny a mortgage insurance prcmium ro the Secreta►y,each monthly payment
<br /> sha11 also include either. (i) an insudlment of dx annu�l mortgage insurnnce premlum to be paid by Lender to the
<br />-=-'-y Socrctuy. or(ii) a manthly chrrge instead of a mortgage insurance pcemium if this Security Inswment i:held by the
<br /> _ Seccetary. F.�ch monthly Instaliment of the mongage insurunce prewiuni sh�lt be Pn nn amount sufficient to accumulate the
<br /> fuli winuai mongage insuru�ce pnemium with Lender one month prior ro the dute the fu11 annual mortgage tnsurance
<br /> _-. ,.,. premium is due to the Secrcuuy;or if this Socurity Incwment is held by the Secrttuy.each monthly char�e shsll be in�n
<br /> iunount equal to one-twelfth of one-haif perceut uC the outstanding prt�tcipat balance due on the Note.
<br />=-- If Bocmwer tenders to Lender the full payment of all sums securod by this Securiry InsUument,Borrowerc wccau�t
<br /> � �, ahall be credited with the balance rcmaining for all installments for items(a),(b)and (c3 and �ny mo�t8age inxurance
<br /> p�emium installment that Lender has not become obli�ated to pay to the Secretary,and l.ender ahall pramptly refund an�
<br /> excess funds to Bomower. immediately pdor to a foreclosum sale of the Prqxrty or tts scquis{tion by L.ender.Borrowera
<br /> - �;�,� account chall be credited with eny bRlance remaining for all Instullments for items(a),(b)and(c).
<br /> _ �E�;"�"" 3. Ap. kation ot Paymenta. Ail payments under Paragrephs 1 and 2 shall be appliod by i.ender os follows:
<br /> to the moRgage insurance premfum to be paid by Lender to the Secretary or to the monthly charge by the
<br /> --_ Secretary insuad of tbe monthly mortgage insurance prcmium;
<br /> •;��:;. ��,to any taxes,special assessments.leasehold paymenta or ground rents.und fire,flood and other haz�rd
<br /> : � ro r .�.,.-- insurwwC pic�itiunis.as rcquircd; _
<br /> - ��= •.;,,.,:,�x, �18,R.to interest due under the Note;
<br /> ��+�y'r,`�'s'.'?:;�.'d�*'�°� �URTH,to amorttaation of the principal of the Note;
<br /> ";", � � ' ' � ��,to late chrrges due under the Note.
<br /> . '� ' 4. Fire,Flood and Other Nazard insurstnce. Borrower shall insurc all improvements on the Property,whether now
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<br /> • ' � in existence or subscyuently eractc:d,ngainst any h�.ards,casualtics,and cantingencies, inctuding fire,for which Lender
<br /> • '�, ;;;•:,:�'•- mquires insurancc. This insuruncc shatl be mainta�ned in the nmounts and far thc periods that I.ender requires. Bocrower
<br /> -�:;��' � sh�ll also insure all improvemems on the Property,whether now in existence or subseyuently erected,against loss by floods
<br /> ':"I`':"'° ' ro the extent mquired by the Secretary. All insurunce shull be cwried with companios approved by Lender. The insurena
<br /> • ;� ��� poticies and any renowals shall be held by Lcnder und shall inrlude ioss puyuble ctauses in favor of. and in a form
<br /> • '� t►cceptable ro.Lender.
<br /> - "�.'�"•.��•'�.`. :v*:,t•+:�. In the event of losc,BorroN�cr shull givc Lendcr immediute noticc by muil. Lender may make proof of loss if not
<br /> ��'�° �i: '�.' � � made promptly by BoROwer. Each insurunce compuny conremed ix hen:by uuthorized und directed to make payment for
<br /> ,�;. : ' '<,�:".;'�'•�,. " such loss directly to Lender,instcad of to Bncrower and to Lender jointly. All ur uny purt of the insurance proceeds may be
<br /> • `�`°` ''• . applied by Lender,at its option,either(a)to thc reduction uf the indebtedness undcr the Notc and thts Secunty Instrument,
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<br />;;�',. � • �.,.��:,. first to any delinquent amounts applied in thc ordcr in Parugraph 3,:►nd then to prepayn►ent of principal, or(b)to the
<br />'•!• � � • restorution or repav of the damaged property. Any applicution of'thc procceds to the pnncipal shull not extend or postpone
<br /> , :'�'" . �� , the due dute of thc monthly pnyment�which are refcrnd ro in Pcvagruph 2,or ch;�nge thc umount of such payments. Any
<br /> , , excess insurunce proceeds over an amount reyuircd to puy ull outstund�ng indebtedness under the Note and this Securiry
<br /> ' Instrument shall be pAid to the entity lcgally entitled thenetn.
<br /> � In the event of foreclosure of this Securiry Instrument or other trunsfer of titlr to the Pruperty thut extinguishes the
<br /> • • indebtcdness,all right,titlr and interest of Borrower in anJ to in�ur:mcr{wlirieti in fnrcc shall puss to the purchaser.
<br /> �:rj.` ' . S. Occaps�ncy, Preserv�tion, Maintenance and Protection of the Property; Borrower's l.oan Applicatlon;
<br /> � l,es�sebolds. Borrower�hall�xcupy,est►blish,und ux:the Propeny��s Borrowerl principat residence within sixty days
<br /> :�r��. ., uf'ter the execution of this Security Intitrnment:►nd xhall continue to exrupy the Propeny uti Borrower's principal residence
<br /> •�i�� ' fnr at Icast one ycar after tFx:dnte of occupuncy,unletis the Secretury Jctcrminrti thiti rcyuircmcnt will cuuse undue hardsl�ip
<br /> ' �, '�' for Borrower, or unless extenuating circu��tunces exi�t wfiich am tx:yund Borrower's control. Borrower shal! notify
<br /> �,~� � �•��"` Lenden of uny extenuating circumstances. Borrower shall not commit waste or destroy,damagr or substantiully change
<br /> �` ' ��'�'� the Property or uUow the PropeAy to deteriorute,reasonuble weur and teur excepted. Lender muy mspect the f'roperly if the
<br /> f �� ' Property is vacant or abundoned or thc loan is in defuult. Lrndcr muy tukc rea.onabic action to protect and preserve such
<br /> �• ��, �• " ' ' vacant or ab•rndoned Property. Borrowcr shall alsa bc in defuult if Bottowcr,Juring thc loan application process.gave
<br /> ,� ` materially falxe or inaccurate infortnation or stutements to Lendcr tor fuiled to prrnide Lendet with any matenul
<br /> - information) in ronnectian with the loan evidenced by the Note,including,but not limited to,repmsentations conceming
<br />=r• ' ,I Borrowerl occupancy of the Property us u principal msidence. If thi�Secunty In+irumcnt is on a Iet�sehold,Borrower shall
<br /> ,���• '•'`���;:'��'' • comply with the provisums of the leasr. lf Borrowcr acyuires fcr tidc tu the F�roFxrty,the leusehold and fee title shall not
<br /> :,i be merged unkss Lender ugrees to the mcrger in writing.
<br />� •'!� :•.; ;� . .• .. 6. Charges to Borrower and Protection of Lender's Ri�hts in the Property. Borrowcr shall puy ull governmental
<br /> �"'''"= or munici al char es fines and impoxitiom that are not included in F'urugraph 2. Borrower�hall pay these obligutiom on
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<br /> ` ...v,�,v-�. time direcdy to the entity which is owed the paymcnt. If failun� to pay would •rdvcncly uffect l.endcr's intetrst in tlx
<br /> '_i,,� �� 't•r�" Property.upon Lender:s requcst Bormwer xhall promptly fumish to Lcnder mccipts evidcncing thesc payments.
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<br /> - If Borrower fails to make these payments or the paymcnts reyuired by Paragr:�ph 2,or fails to perform any other
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<br /> .rr ----- -�-� �.-9-� �iei' _. ..- CUVCttittw m�u a�w�un.ua.,�v..�...................___... . _ . .
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<br /> . t� �����' Lender�rights in the Properey(such as a prc►ceeding in b:u�ktuptcy,for condemnation or to enforce laws or regulations).
<br /> ..�y.�� ... �� then Lender may do und pay wh�tcver is necessnry to protcct thc vuluc of the Property and Le:nder�rights in the Property.
<br /> `:; ;� �,�'��+�?;��� including payment of taxcs,hazard insurancc und othcr�tcros mentioned in Par.�graph 2.
<br /> �.,4i � • ';. Any unounts disbursed by Lender under this P.�ra�raph shull t►ccomc cu�additional debt of Borrowcr and be secured
<br />--- � �� by this Security lnsdument. 'ilicsc amounts shall bcar mterest from the dyte of disbursement,ut the fYote rate,and at the
<br /> �,,..',���',ti, option uf L.ender.shall be imrnedia�tely due and payable.
<br /> 7. Condemaation. The proceeds of ony awnrd or clxim for dmnuges,dircct or consequential,in connection with any
<br /> condemnation or other taking of uny psut of the 1'roperty,or for conveyunce in place of condemnation,are hereby��igned
<br /> and shall be paid to Lender M the extcnt of the full am�unt of thc indebtcdness that remains nnpaid under thr Note and this
<br /> Security Inswment. Lender shall apply such prreeeds to the reduction of the indebtcdness under the Noce and this Securiry
<br /> Inshument, first to any delinqucnt umounts applied in the order provided in Hungraph 3, and thcn to prcpa•yment of
<br /> �,;-- princlpal. My application of the proceeds to the princtps�l shall not extend or postpone the due date of the mw�thly
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