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<br /> 1. p�rat ot hb�clp�t,IW�+rI a�i L�M C�rM• do�wa ihrll p�y whan dua dKl P���•�ad i�uoiwt na.
<br /> - 1Y diM evid�no�d by da IVolt�td 1�m cbrp�dw u�da'Il�e Nale,
<br /> �• �y M7��7�����a� &xr�wur shatl includa in ach momhly
<br /> �y��. u
<br /> �ojatl�a�r with tbe principd wd inle�t as�et tord�in the IVa1a�riy I���M chr�oa.Mt lnW�lhl�t of wy(�)Wns ,
<br /> ipecid weumenu bvled ar 10 bo bvied yain�t the Property.(b�Mwl�ld WYmenb a�raund reMt aa t!w P[oprty��ad
<br /> (c)P�aniva�a fot insumc°required oS'rara�r�ph 4.
<br /> — F.�ch monthly itit.11mene tor iknu (•).(b) aad(c) s1yU aqu�l one•cwdRh of tha+�nnwt �ma�aKs,�naraabl�
<br /> ° e�tinwtoci by Lertidrx, plus at� antount suillcirnt ro mn{nlnin en n�lditkxial l+d�nc+e of not more �b�n onadxth of Ihe
<br /> e�tlm�tcd sn�o�. The tuU an�uri am�wnt for e�ch irem �h�ll be Kxunwiated by Lemlar wWsits r perlod oae
<br /> month befae�n i�em would becane ceiinqueat. L�tndar�alt hdd the aroouna coiloctad in tnat w p�y ilen�(�1,(b nd
<br /> (c)befa�e they bocome deiLpw:nt.
<br /> lf at any time the taW of the pym�nt�heW by Ler�for itemt(a).tb1�+xl(a1.co�etl�er with the futut�e marhly
<br /> payma�a for wch items p►y�bk co Lxnder pria to the duo d�ka of iuch itcros, exceods by more tban one-�ixth the
<br /> atim�ted unount of pymu�ts requirod topay wch ieemi whan due.�nd if p�yma�ts an tha Nate ue cwra��t!�Lceder
<br /> -- �be11 elthet[e[w�d the excesn aver one-sixth of the estimatod p�ytnenu a credit the exass oxa one•sixth of ihe e�tlnwted
<br /> Qayma�ts to aub�cqua�t paYmenu by Bortower.�t the option 4f 8o�mwer. If the wtal of tho prYment:made by Batower
<br /> for item(a).lb).or(c)is inaufficimt to pay the item whert due�then&�trower�iull p�y�u Laukr�ay amant aeauary o0
<br /> malce up the deficieocy on or befae the d�te the item bocortrea clue.
<br />' As wed in this Securiry lnst�uumrnt."Secmt�ry„means thc Secrcuuy of Housing�nd Urb�n Development or his ar her
<br /> designee. In any yeu in which the l.enckr muu pay a mortga�e inauru�x prcm[um w tha Saeret+ry.each monddY P�Y��
<br /> :hall also include either (i) an u�tfn�ut of t,'►e �nnual mort�aac insurar�;. p�snEum tq� ps3d by Lender W the
<br /> Secretary.or(ti)a ma►thly char�e inatesd of a mort��e inaunnce premium if this Sacurity inswment ir hotd by the
<br /> Secretary. Each monthly instalimrn[of themo�tgage inwrance prcmlum sh�l�bo in��tntxtnt wt'ficietN to�ocunwlate d�e
<br /> fu11 annual mortgage insurance premium with [.ender one month prior to ihe d�ta t1�p fu1L annwl mortga�e inwr�nce
<br /> '�_ prcmium is due to the Secrct�ry:a if this Security lnstru�mont is held by the Saccetacy.eACh mornhly ciur�e�hall be iu aa
<br /> ,�"' araount equal to a�e-twelfth of a►e-hnlf percent of the outstanding principrl balance dua on iha Note.
<br /> :`,,.` If Barrower tcndecs to Lendcr the full payment of all sums secured by this Socurity Inutumont. Bornowerk sccount
<br /> =�� shaU be credited with the balance remaL�ing for all installmente for itema (u).lbl and(c) ond any mort�+��e insur+u�ce
<br /> - pcemium installment that l.ender has not become obligated w pay to the Secreuuy.and Lendn�a1u11 promptlY refund�ny
<br /> excess funds to Barower. Immediately prior to A faoeclasurc sale of the Pcoperty or ha�oquieidon by Lerder,BocrowuTe
<br /> _,�. aroow►t shall be credited with any balurce remrioing for all jnstullments for items(a1.(b)And(c).
<br />,.;.'i=• 3. Application of Atymenta All payments under Poragrapha I�nd 2 ch�U be appliad bg Lender as follows:
<br /> �,to the matgage insurance pr�emium to he paid by Lendcr to the Socrctiuy or ta tha mo�ul�ly char�e by the
<br /> Socre instead�f the monthly mortgage inswmnce prcrruum;
<br /> ;}...� ��.to any taxes.special assessments.le�elwld payments vv�round rents.w►d flro,flood�nd other hazud
<br /> ::. .o. Insurance prem►iums,as required;
<br /> . gj{$Q.to interest due under the I�iac;
<br /> FOURTH,to amortizetion of the principel of tho Note;
<br /> ; ,,, �.to lxte charges due under thc Note.
<br /> ; ,,,�. 4. Flre,Fload and Other Haz�rd insuraace. Borrowcr sha!!insiu+e x11 improvomants on the Property.whether now
<br /> - ,,'r in eaistence or sut�seyucndy erected,ugainst anv haaa�rds.casunities,and ootuingencias,inaluding fice,for which Lender
<br /> �:�� requires insurancr. '!'his insurance shnll be rn�intained in tlw amonnts and for the perinds that L.ender roquircs. Borrower
<br /> �, ' �i r:�:r cequondy erccted,against loss by floods
<br /> • .-�1�,..:y� shall also insure nll improvements on thc Pn�erty.wheth�r now in existence or sub
<br /> -, 1 '��'•.;,. ;,�;;�--- to the extent nquired by the Secretazy. All iasurnnce shall b�carried with companios approved by Ixnder. '[l�e insurm►ee
<br /> "����u� policies nnd any renewuls shall be held by Lender ruid ahuU include loss payablo claucos in favor of. And in a fam
<br /> �''`��� " � "�� acceptable to,Lcnder.
<br /> -- ` '�'a"'�'r�''�' "'",',�`�",�" In thc event of loss,Borrower shull give Lender immediute notice by mail. Lendor may make proof of loss if nut
<br /> :� ��.,v.. T . :1'S3�
<br />�;,; ,��� `�. made promptly by Borrower. Euch insuranee compuny concemed is hembv authorized and directed to make payment for
<br /> such loss directly to Lender,instead of to Bunower and to Lender jointfy. Ail or any part of the insurance proceeds may be
<br /> , ��: ,;,'••��,, appIled by L.ender,at its option,either(a)to thc reduction of the indebtednesti under the Nota and this Securiry Instrument.
<br /> � +• �;' ��: `"�' first to any delinquent amounts applied in the order in H�rrgraph 3, and then to prepaym�nt of principal,or (b) to the
<br /> :«�'�''"'•``�i;'�.��;; . restotation or re •ir of thc dama ed m rt An n luution of thc rocc�cd.to thc nnci ul shall not exttnd or s
<br /> ' .:..��' � " '}'���''"�� '' the due date of t�he monthl menp which are mfermd to in Pura ra h 2,ur chan e thc�umount of such ment�.s.�An
<br /> 1� - .. Y P�►Y S P E PaY Y
<br /> `:�'�'i:�� ';,,, ,'���•' ' excess insurance prc�ceeds ovcr an �►►ount mquired to puy nll outtitunding indebtedne��under the Note und this Securlty
<br /> '.�•�� ,ti;:;;;;;,, Instcument shall be paid to thc entity legally entitled thercto.
<br /> ,�.�-.;,..���: •: In the event of forcclosure of this Securiry Instrument ar other transfer of tide ui the Pruperty thut extinguishes ihe
<br /> , • �:,:�;•�;'�° _ indebtedness,all right,tidr and interest of Borrower in and to insur.u�ce policies in tirrce shull pass to the purchaser.
<br /> •' •�` ' ���' '' ''•� 5. Occupane�; Pre.cervatton, Mai�tenance and Protection ot' the f'ropertyt Bi�rrower's Loan Application;
<br /> :..�: :'�s,��;:c� .
<br /> �,,�••. _. � •�:. - I.easeholds. BoROwer shall occupy,e�tablixh,:u�d use the Property a5 Borrowrr� pnnripAl residence within sixty days
<br /> " `s' ; ufter the execution of this Security Instrument and shall continuc tu cxcupy[hr ProEx rty u�Bormwer�principal cesidence
<br /> .'rs-
<br /> ;;__. ' �.� • for at least one year afler the Jute of occupuncy,unles.the Seeretary determines thi.rcyuiroment will cause undue hardship
<br /> 'r�+� �� for Borrower, or unless extenuating circmristunce. rxiwt which um beyond HoRO�vcr's control. Borrower shaU notify
<br />' :� .t ��'�'�', l.enders of any extenuuting circumsrrnces. Burrowcr shall n��t commit waste<�r destroy.damage or substantialty change
<br /> � � � "`•`'� the Property or allow the Propeny to detcriorute.reasonuble wear and trar exrcptrd. l.rnder muy inspcct the Property if the
<br /> ;- t�`'E. Property is vacant or abandoncd or thc lu�n i�in defuult. Lender may 1.tI�C R:11011:111Ic urtion to protect and preserve such
<br /> vacant or�bandoned Property. Be�rrowrr�hall al+o lx in d�fault if BonoWcr.during the luan application process.gave
<br />,' ';� materially false or inaccuratr mfortnution or stntements to LrnJer (ur Tailcd t�� pruvide Lcnder with any mssterial
<br /> _ , y, information)in connection with the lo:ui e�idenced�y thc Notc,incluJing, hut rn�t lim�ted to,rrpn�,c:ntutions coneeming
<br /> _ Borrower's orcapancy of the Propeny as a prinripiil residencr. If thiti Srcunry Imtrum��+n i�on u Iearehold.Borrower shull
<br />_ `r comply with the provisions ot the leasr. It Bortowrr acquins fec titie to thr Pmperty.the Icusehold und fee title xhall not
<br />- ,'� be merged unir�s Lender agrec�to thc mcrFrr in writing,
<br /> 6. Ct�r�es to Borrower and Protection of Lender's RiRhts in the Prupertv. 8um�wcr xhall pay aU govemmemal
<br /> ;.� or municipal ci:arges.fines and impositions thut ur�n��t included in Para�n�ph:. Hurnn�rr�hall pay these obligations an
<br /> time directly to the entity which is owed the payment. If failurc h�pay wi�uld adver.:�:ly uff�ct Lrnder�intcrest in the
<br /> Property,upon Lcnder's myuest Borrower tihull promptly fumish t��Lrndrr n.�eipt�cvidencing these paymcntti.
<br /> � If Borrower fails to mukc th��c paymcnt� or the pirymentti myuireJ by Parugn�ph 2, or failx to perfortn any other
<br /> _- covenants;u�d agreemcnts contained in this Security In.trument.or thrrrt i+u Icgal pnxr��iing th•rt mu +ignific:uuly affect
<br /> �_.. ..�_
<br /> _=:-,- -- Lender's rights in the Nroperty tsuen as a proceeding in o�mic►upi�y,iin conucnrouiwii�ii iai ciiniiic �uwa vi ic�u�aii0uii.
<br /> � then Lender muy do and pay whatevcr is nrre.sary tu prutect the value of thc Pro{xrty and Lender's rights in the Pmperty,
<br /> � including payment of t:uces,h:u;uJ in+ur.u�rc;u�d othcr ncros mcntic»ird in Pan�gruph:.
<br /> � • Any amount+disbuned by Lendrr undcr this P.►ru�r,�ph.hall hecomr an additional Jrht��f Borrow�rr and be sccured
<br />.";�., by this S��curity Instrument. '1'hcx amount.shall bc;u mtercst fn�m the dutc of di.Nurr,cmrnt.�t the Notr rote,und ut the
<br /> :; option of Lendcr.�hall be imtne�fiately due•rnd payable.
<br /> i � 7. Condemnatian. 'Chc pra:�tid�uf uny award or cluim for ds�m•rgr,,dirrct or cumeyuential,in cunn�wtion with any
<br /> �� condemnation or other t�king of:u�y p:ut ot'the Property,or for canvcyanrr in pl;kr uf rundemnution,are hcreby ati�igned
<br /> '"'� .,. .. , . and shatl be paid to Lender to the cxtrnt af the full umount oC the indcbtrdnes�that romain�unpaid undcr thc Nute and thix
<br /> �r Security lnstrument. L�ndrr tihall apply wch pnxe�d�tu thc r_durtion uf th�indehtedne.+unJer the Note;md thiti Sccurity
<br />'�± Inswment, fint tu any dclinyurnt amuunt+appli�tii in the onic� pnwiikd in Pan►gn►ph 3,and thrn tu prep•ryment ut
<br />�. " . principal. Any application of the pnx�tid�w the principul shull tx�t extend or po+t}wne the due datc uf the mcxithly
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