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<br /> 1.� .r Meetw,w«w�.�LM.cr.r�.. Han�o�w�r�6.0 p�y wM�,d�»m.p�acip�l or�.��a��a.
<br /> iM.�.ut w�dr.o�d bry i.Nor rod 1W cb�r1�dw 4o�Mr t�e IVo�t.
<br /> 1 11#�Mi�r/�7��M af 7'rxN,L�wFa�e�wl OtM����a, Borto�wer�hall fnrlude b�ach pYnMM.
<br /> M�etUer whh Ib priKlp�l�nd itMet�e�t��et loet6 in dio lYo�e Md�uy hb clMrRa.n irat�ibneat of�uy(� taxa�nd
<br /> �p�cW rrer�nan bvied a to be bvied y�tb�Prop�ty�(b)Mwhdd P�Y�+a P'�mst�oa dro Aop��ty.aod
<br /> (�)Pna�i�u►u fa inaur�nce requirod by Frn�nph 4.
<br /> H�cb moalhly inWln�nt for itaas(a)�(b)�nd tc) �lu11 aqwl one-twelAd n�tho annwl �rriounp, a�reaw�w�+lY
<br /> �bd by l.an�kr. ut�n uraunt wfficlent w nWnu�n an addltion�! b�4uioe of twt mae dan one-�th of tbe
<br /> �bn�eed irno�rMi. �Fali amuai unount for e�ch feem sh�1�be accumul�ted by Lcnder wlthin a�xrSod endfn�oru -
<br /> aio�lb betora�n itan wouW became delinqueat. Lender th�i1 MW the aa�oaw coilected in uwt w pty Uems(e).(b)aad
<br /> (c)befa�n ehey bocome delinqueiu.
<br /> It�t�r►y Wne the toW of the paymrn a heW by Lender fa item�(a)�(b)and(c)�to etMer wlth the future manthly
<br /> paymaNs for auc6 itans pyabk w La�der pda w the due d+�w of wch itan:.ex�by monc th�n one-sixth the
<br /> eainwted amount of P�Y�s�9uind topay such itemi wl�endue.uid if pi a on the Note am currait,then l.awler
<br /> thW eitha ntw�d the exoat over one-sixth of the estitmted pay�n ts a c it the excess ovec one•sixth of tfie euimated
<br /> paymavs W wb�equent paymenta by Botrower.su the option of Bomnwer. If the total of the paymente mde by Bortevver
<br /> ta ikm(a),(b),or(c)is inwt�'tcient w pAy the Item when due.tha�Borrower�tull pay to La�der�ny ur�t r�ece�svy to
<br /> mvice up the deficiency on a befa�e the dato the item bocornes due.
<br /> M wed in thic Securiry Insdumrnt,"Secretary"means the Secnt�ry of Housing arid Urban Development or hi:a her
<br /> dajgna In any year in which the I.ender mu�t pay a mortgaQe insurana premtum ta the Secret+rY.e�ch month�Y MY�t
<br /> �hall alao Include elther: (i) an Installmr,nt of the annud mortgage insur�noe premium to be patd by Lender w the
<br /> Sec�etary.ar(ii)a monthly chsuge lnstead of x mortgagr insurencx premfum if this Secnrlty Inswment is held by thc
<br /> Secrehry. Each monthlly inuallma�t of the mortgage inwrance premium�Il be in su►wmonnt aufl'�cient w accumWua the
<br /> ---- full au►unl matgag�insuronce premium with Lender one nwnth pcior to the date the full annu�l mortgage inwnu�ce
<br /> qemium is due w the Secrctuy:or tf this Securtty Instrument Is held by the Secrci�ry.each monthly char�e x1W1 be in�n
<br /> �rnount equ�l to ane-twelfth of ane-h�lt'percent of the outsw�ding princip�l b�lana due on the Note.
<br />-= — If Horrower unders w Lender the full p�yment of all sums secured by this Security Inshument,Ba�vwerk Acconnt
<br /> �ll be ctedited with the Milance remaining for all installments for iums(a),(b)and(c)and Any mongage lnsnru�ce °
<br /> pcemium insWima�t that Lenckr hss not become obligated to pxy to the Secrctary.and Lende�sh�ll Prompdy►efund any
<br /> eaceu fwtds to Borrower. Immediately pdor to a foroclosun sale of the R�operty or jts ac9a�sitian by Lender.Bomower's
<br /> aocount shall be crodited with eny balance remdning for all installments for Items(a),(b)and(c).
<br /> 3.___QpA •liaitla�ot P�yments. All payments under Paragraphs!and 2 ahall be applied by I.endcr ac follows:
<br /> F1B5,T �o the matgage insurnnce poemium to be paid by Lender to the Secrcwry or to the monthly clwgc by the
<br /> Secreury instead of the monthly mortgage insurance premiwn;
<br /> �,to any texa,spocial azsessments.leasehold paymcnts or�nound rents,and tiie,flood and aher hazard
<br /> . insurance pretnlums,asroq uircd:
<br /> —_ 7'FIiRn,to iRtRn.'�4�i�x��nckr the Ncxe;
<br /> - EQ�,to amottiradon of the princi�al of the lYote:
<br /> �,W late chnrgrs due under the Nae.
<br /> 4. Fire,F7ood and Otber H�rd Insurana. Borrowcr shall insure all impravements on the Propetty.whether now _
<br /> �•� in exiuena ar sub�equently erected,ag�inst eny hazards.rasualties.and contingencies,including fire, for which Lender -
<br /> royuites i�surance. 71iis insurance shall bc mnintvned in the amaunts atxl fo�the periods that l.ender requires. Borrower
<br /> sh�ll also insure ail improvements on the Property,whether now in exixtence or subsequently erected,against lass by floods
<br /> ;�"r.� ta the extent requiied by the Secrerary. All insurance shall be carried with campanies approved by Lender. 'Ilie insurance
<br /> , ,x:r����'.� policies and any renewals sh�ll be held by Lender und sh�il include loss payable clauses in favar of, and in a form
<br /> :�;:�:, _. • r,.„
<br /> °¢ .',�:�r'�;v;,;•'d,, accePtable to,Lender.
<br /> •. In the event of loss, Borrower shall givc Lendcr immediatc naice by ma�l. Lender may make proof of loss if not
<br /> ,�,
<br /> ,.. �. •, +�. made promptly by Borrower. Eoch insurunce company concemed is hereby authorized and dimcted to make payment far
<br /> ` �;�,L,`..� �, .,,,�: such loss directly to Lender,instcad of to Borrower un to Lender joindy. All or any part of the insurance procceds may be -
<br /> •. :,.;.:j'`r�•; d
<br /> ;�;,,'� ' �. • • applied by Ltnder,at its aption,cithe�(a)to thc reduction of the indebtedne.r•ti undcr thc Note and this Security Inswment, _-
<br /> ,•,•j,.,�,�� - �' frst to eny delinquent amounts applied in the order in R.u�agraph 3, and then to prepayment of principal. or(b) to the =
<br /> ;��:�:•, . •• �� ` rcstoration or repair of the dun•rged property. Any upplicution of the prceeed,u►the principal shall not extend or postpone
<br /> �'%� the due date of the monthl a ments which are referred to in Puru ra h 2,or chan e the amount of such a ments. An
<br /> wtw... .� ::t S� Y P'Y s P � P Y Y
<br /> '�:��•. � ;"'��u:.:'" eacess insurance proceeds over an :unount requimd to pay all autstunding indebtedness under the Note and this Securiry _
<br /> -�L��;�• � '�'`' Instrument shall be paid to the entity Iegally entitled thereto.
<br /> ��'��: :• �. .. In the event of foredasure of this Sccurity In�trumcnt or othcr transfcr of titic to the Prupeny that cxtinguishcs the
<br /> ' :� � indebtedness,all right,title ar►d interest of Burrower in and to insurance policics in firrce tihall pass to the purchuser.
<br /> '��' � 5. Occupancy,Preservytiun, Maintenancc and Protection of the Propert�•; Borrower's Loan Applicatfon:
<br /> i.: „ Leaseholds. Borrower shall.x:cupy,eziatli�h,and use thc Propeny us Borrower.principal rrsidence within sixry days
<br /> +��X�--. ���� • after the execution of this Securiry Instrument:u�d shall continue to occupy the Pmperty uti Borrower's principal rcsidence _
<br /> for ut lenst one yea�after the d:�te of occupancy,unless the Secretary determme�thi,reyuirement will cause undue hardship
<br />_- , ."� '-•- for Borrower, or unless extenuating circurri�tances exist which am beyond Burmwer. rontrol. Borrower shall notify �.
<br /> • Lenden of any extenuuting circumstancrs. Borrower shall not cammit wastc or detitr��y,damage or substantiull��change �
<br /> '� •`' thc Property or allow the Property to deterioratc,nasonAhle wcar nnd tear cxceptcd. Lrndrr may mspect the Property if the
<br /> .` ;. ..
<br /> 'J��'�'�� '� PropeRy is vacant or abandoned or the loan is in default. Lender may rrke natiunable action to protect:uid preserve such -
<br /> _ . vacunt or abandoned Propcny. Bonower shull al,o lx in defuult if Borrowrr,during thr loan upplicstion process,gave ��
<br /> ;. , �, matcrially falxc or inaccurrtc infortnation or statrmcnts to Lendcr (or tuilcd to providc Lender with any matcri�►( `
<br /> .;!,� ,- infortnation) in conneetion with the lonn evidenced by the Note.including,hut not limited tu,reprc�entutions conceming
<br /> a_:,',� ' . Borrower c occupancy of the Property ns a Principal residence. [f this Security Inxtrument is on a Irasrhold.Burrower shull �i��
<br /> 'i';�,:�%?}, . /, comply with the provisions of the lease. If Borrower.icyuirc�fre tide to the Prop�:rty,the Irasehc�ld und fee title shull not
<br /> .�g1,��i`+ ,:1;, be merged unlcss Lender agmes to the mcrgcr in writing. �'�
<br /> � ' 6. Clwrges to Borrower s�nd Protecllun of Lender's Iti�hts in thc Property. Botroa•�r shaU pay all governmentul �
<br /> �' •,'i. :: ar municipai chazges.Gnes and impo�ition�that:�rc not included in P�.�r.igraph 2. Borma•cr�hull pay theu obligation�on �
<br /> �' time direcqy to Ihe entity which iti owed the paymem. If failure to pay wouid adveneiy affect Lender+ intem.t in the f�
<br /> t�'::•• � Property,upon Lender's requcs�Borrowcr shall promptly fumi+h to Lcnder rereipts evidencing thesc p•ryment�. a
<br /> ., .x,�;•: . .. �
<br /> • ' If Borrowcr fails to make these payments or the paymentx myuired by i'aragraph 3,o� failti tu pe�torni any other ,
<br />_-_ S�"t' , .� covenants and agreertxnts contained in this Security Inxtn►ment,or therc i,a legat proceeding that m;�y ti�gnifirsntly affect
<br /> --- — Ir�ulerc riahtc in the Pronertv rsuch•rs a mm�edinu in bankruotcv.for condemnatton or to enforce law•s or re�ulations), S�
<br /> ,- , ",'.� - ` — thcn Lendei ma do and �a what�ver is ncces�u tv rotect thc vulue of the Pro rt and Lendcr:ri ht.in the Pro rt . �
<br /> ..�..:. . Y p Y r9 P P� Y' S pr Y
<br /> �"� �` • ° including payment of tnxes.hazurd insurance and other items mentioned in P�rragra�h 2.
<br /> � ���:=.. ' . Any amounts disbuned by Lender under this P�ara�eraph tih•rll becomr an additionul drbt uf Bormwcr and Ix:secund
<br />._ •.• by this Security Instrumcnt. These amounts shall bear mterext from thc dute af disbuncmrnt,at the Note rate,und at thc �
<br /> s �." option of Lender,shall be immediAtely due und payable.
<br /> __��:'' " � 7. Condemnation. 'llie prnceeds of:u�y uward nr cluim for dumagrs.dircct or conxyuential,in amnection with any �
<br /> - �"'-°=�"-'=• �" condemnation or other takin g of;u�y part oF the Pro p crt y,or tiir ronvcyance in placc of conJemnution,ure hereby us�igned
<br /> �� ���+y end shall be paid to L.ender to the extcnt of the full•rmount of the iade btedness th�t nmuins unpaid undcr the Notr and this h.•
<br /> -- �''�� Securit Instrument. Lender sh•rll a I �uch mceeds to the rcduction of the incfebtedness unJcr the N��te and thix Security ,-'
<br /> °,��'''t,a��re {�r71W,t:� Y pP Y� p
<br /> ._,�. Instrument, first to any delinyuent amount� applied in the orcier pmvided in Prragruph 3. and then to prcpayment uf
<br /> • pdncipal. My apptication of the proceed� to the principal xhall not extend or postpone the due date of the monthly
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