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<br /> 93= 14gs44
<br /> - Y. Fi�yu�+t uP Principrl,Yaierert wu1 I.wte Ctiw'�e. i3orowar,twll pay wiran duc thc principal af.and irucnc�t a�, -
<br /> the debt evjdenced by the Nde and latc ctuvges due under the Note.
<br /> — 2. Mo�thly paymeots of'lAxes,lnwr,�aoe aud 01hcr CharQa. Borrowcr shull tncluoc in each monthly payment,
<br /> tage�ha with the princip�l and interest as set fotth in the Note ardany lote chxrges.an fnxtullment af nny(a)uxex and
<br /> - spocW xs�eesments levfed��to be levied ug�inst the Property.lb)leas�ehold paymcntx or�raund�nw on the ProEx:ny,uW
<br /> (c)prcmiams f�r insu►ance required by Paragraph 4.
<br /> Fach monthly installment for items (a1, (b) wid (c1 shall equal one-tweifth of tha onnual amountv, as rcs�+onably
<br /> °��'"��-�� estimated by Lender, plus an amoune suKcient to maintain en additionul bulance of na m�xe thwi une•�ixd►of�I�e
<br /> estim�tod amounts. The fuil annual emount for exh item shall be accumulated by l.endcr within a period ending unc
<br /> month before an item wauld betome delinquent. Lendcr shall hold the nmountx collected in truat to pay i►ems(s).lb>and
<br /> _ (c)beforc they becorrx delinquent.
<br /> If at any time the taal af tMe payments held by Lender for items(a),(6)and(c),together with thr.futurc monthly
<br /> _ ___ paymenu for such items payable to Lender priar to the due dntes of such items, exceeds by morc thun ane-sixth the
<br /> — estimated amount of payments rcquired tapay such items when due,su�d if paymenGy on tbe Noce am current,then l.oncl�r
<br /> - ---��-°°-°°° 9 shall either refund the excess over ane-sixth af the estimatcd paymcnts or credit tha excess ovcr one•sixth of the estimated -
<br /> payments to su6sequent payments by Boirawer,at thc option of Borrower. If the total of the paymenGc madc by Bo�rowor
<br /> — -- far item(a).(b).or(c)is insufficient to pay the item when due,then Borrower shull pay to Lender Any umaunt necessuy to
<br /> make up the deficiency on or before the date the item becomes due.
<br /> , As used in this Securi[y Instniment,"Secretary"means the Secretury of Hauring and Urbun Aevelopment or his or lxsr
<br />- ---!_- -- �--�=--- designee. In any yeac in which the Lender must pay a mcNtgage insurance pr�emium to the Secretary.each monthlv payment �_
<br /> ,_-.,�� -- shall also include either: (i)an instullment of the annual mortgage insur.+nce premium to be paid by Lender to the
<br /> Secretary, ar(ii)a monthfy charge fnstead af n mongage insurance premium if this Security Instrument is held by thc
<br /> ,�.�,;; • � Secretary. Each monthly instaiiment of thc mortgagc insurance prcmium shuH lx in an amount safficicnt to accumulate the �
<br /> �•;•=� full annual mortgage insurance premium with Lender one month priar to th¢ date the full nnnuul mortgage insurance
<br />__ •:� premium is due to the Secretary:or if this Security Instrument is held by tho Sei:r+etary,each monthly churge shall be in an
<br /> �� ��'„ .,�:.�:'.� amount equal to one-twelfth of one-half percent of the outstanding princ�pnl bulunce due on the Notc.
<br /> ' �J• �` ' If Borrower tenders to Lender the full payment of all sums secur�d by this Security lnsuvment,Barrower's uccaunt
<br />. ' R��' .' „ shall be crcdited with the balence remaining for all instulimentx for items (a), (b)and (c)und any mortgage insurance
<br /> ��•�r« ''". `�`-;;� premium installment that l.ender has not become abligated to pay to th�s Sixretary,and Lender shull promptly refund any
<br /> ��,;,,:� excess funds to Borrower. lmmediately priar to a foreclosure sale of thc Propeny or itc acquishion by l.cnder.Bortawer's
<br /> account shall be credited with any balwue remuining for all installmen4c for�tems(a).(b)and(c).
<br /> �'°•�"`'�'� 3. ApplieAtion of Payments. All paymrnts under Psragraphs I and 2 rhull be applied by Lendcr as follows:
<br />-_ ,,"- '.; �s
<br /> � r„� ;,,�n.�,4?�'�:,� �T,to the mortgage insurancc premium to bc puid by Lender to the Secret:uy or ta the monthly chnrge by the
<br /> _ r�•.� _,.- ... ,• _
<br /> - :���w�.qr � �. �.�- Secrc instead of the monthly mortgage insurance premium;
<br />, �'�,- ��,to any taxes.special assessments,leasehotd puyments ar ground rcnu�,and fim,flaod und nttwr haxard
<br /> �t .:.saa�
<br /> = insurance�rrmium�,a�req uired: _
<br />� `� ''' ' � . ` TH(RD,to interest due undcr thc Notc:
<br /> " ., . .. FOURTH,to amortization of the principal of the Note;
<br /> . �];{,to late charges due under the Note.
<br /> 4. Fire,I�'lood wui Other Hazerd Insurnnce. Borrowcr shall inaure ull improvements on the Hvperty,whether now
<br /> `' • in existence or subsequendy erected,aFainst any hazards,casuniti��,.;�nd contingencies,including fire,for which Lender
<br /> ,,.,,,.� .. _.,,�.., crquires insurancc. This insurancc shall be maintaincd in thc Amount,and for the periodx thut Lender requires. Barawer
<br /> ' sh�ll ulso insure all impravements un the Property,whrther nuw in rxiairuce u��uU+rqucnity erecled,uguu�.t iv,a by iluu3+ -
<br /> to the extent required by the Srcretury. All in+urunre xhall t►e carried with compunie.upproved Ny Lender. Tho insur.uice -
<br /> policies and any renewals tihall be he1J by Lender und .hull include loss payubl� clauur in tavor of, and in a fortn `-=
<br /> acceptable to,Lcnder.
<br /> �-� � In the event of losx,BORPWCC�f18II�IVC Lendcr immcdiutc notire by muil. Lcnder mi►y►nuke prcx�f af loss if not -
<br /> • made promptly by Horrower. Euch imur:u►ce comp;+ny conccmed is hereby authorited und dirscted to muke payment for --
<br /> ,t _:� such loss dircctly to Lendcr,imtcad of tu Borrower and to Lender juintly. AU�ir any purt of thc imur.u�ce pra:eedti muy be _
<br /> , , . applied by Lender,ut its option,cither(a)to thr reduction of►he indeMcdne"undcr the Notc und thiz Security In�trument.
<br /> ' fint to any delinquent:�mount� applied in thc urdrr in Paragraph 3. und then to prcpayment of princip�d, or(b)to the -
<br />: , ,,,, .� . restorstion a repair of the Jamagcd pruperty. Any applirution ut the pr�xe�dti w thc prinripal shid!not extcnd or pnstpone _
<br /> the due da[e of[he munthly paynxnt,which an retrRrd to in P.�ru�:raph?.or changr thr amo►mt uf,uch puyments. Any
<br /> . . • excetiti insurnnce proceeds over un uttx�urn rryuired to pay ull uutstanding indebtednc��undrr the Note and chis Security }�
<br />- . lnsirument shall be p�id to the entit�•IcFuU��rntided thrr¢to. I
<br /> . In thc event of forerlcnure of thi�Sccurity Imtrument or i�ther tran.fer of title t�>thc Prc�perty that extinguishes the !
<br />_ indebtedness.ull right.titic und interr�t ut�BurruH•er in unJ tu imuran�c puliric.in furcr+hall pu..tu thc purch�txr. -
<br /> � :. �� a S. Occupancy, Preservution. Maintenynce and Protectiun uf thc Propert,r; Burniwer's Lo�n Application;
<br /> �-�• ',�` ����' I.4aseholds. Bortowcr shaU cx:cu cstabli�h,and ux thc Prc► n a. Borruwcr� rinci d cr�idcnrc within sixt d•r s
<br /> ,�. :� ti P)'• f�' Y �• P p� Y Y'
<br /> "�� �.�r;��' after the execution of this 5ecuriq• In.trument:md shall cuntinu��u�xcupy the Pre�rty u.Borruu�er;p;incipul nsidence �
<br /> -°` c for at Ierst one yeur ufter the datc of�cupancy,unlc�.thc Srcrrtuq Jct�miine.thiti myuin;mcnt will rau�unduc haniship z' .
<br /> ..�; �_, for Bortower, or unleti+ extenu�ting circum.tance.exi.t which um t+eyund �iurrou•rr� cantrul. Borrower +hull notify �-
<br /> �-* �':;,•. _ Lenders of any extenuating circum�tancc�. Bnrn►K•cr.hall n�it�ommit w��.t���r Je.�my.Jumuge ur wb�t;u�tiully change t '
<br /> � the Ro n or allow chc Pro rt to dctcriarute,rtia+onublc H•rar und��:u carc t�d. Lcndcr ma im ct thc Pro rt �f thc F�
<br /> �''�'� � y r� y � • ��� •r� � r' �
<br /> p�
<br /> r�:.: �'�.�• Prnperty is vacant or ab:mdoned or tt�lo:m i,in drfault. Lendcr m,�v taF,r rr:�.onuhlc arti�m ro prutect and prcx:rve such ;
<br /> vxant or abandoix:d Propeny. Borrowcc.hall ultiu br in Jefuult it'�Borrow•rr.during thr loan application pra:rx., gave ! `
<br /> � materiall� f�lsc or inaccuratc infortn•rtion or .tatcment� ta Lrndcr lor failed to pro�•idr Lender with ;u►y mrtcrial •
<br /> �,.. --
<br /> - infotmat►on)in connection with th� lo:u�cvidrncrd by the 1ot�, including,but nut I�mited to,mprekntatiom conceming {
<br /> � • � &xrowrr's•occupanry of the Pmpeny a.a principal re�iJcnce. If thiti Scruriey In.trumcnt iti un a lea.ehald,Borrowcr shall __
<br /> `°�� comply with the pmvisionti of ttk Icu+e. If Borroacr acqnin:�fcc tiH�to thc Prvperty,etx leurchoW and fiti tide shsll nnc
<br /> ,�,�.-,:'� .�;• be me�god unles�Let►J�:r�gnt,to the mcrger in writin�. •,
<br /> _��}��;4:?:" 6. Chrrses to Horrower und Prutection of Lender•s Ri�hts in th��Property. Bum�acr.hall pay ull govemmentul �.;
<br /> or municipal chuges,finea:uid impo,ition,thrt:u�not inctuded in 1'�arugruph�. 9oanaer�hall pay thesc obligatiun.cx�
<br /> Nme dira�tly to the entity which is owed the payment. If frilun:tu p:►y wvuld aJ�•sn�:l� aff��ct Lendec's interczt in the -
<br /> L*s� Pt+operty,upon Lendcr�nqu�:,t Borrower,h;�lt prompdy fumi.h to Lcndcr r�ticiptti cvidrncing thc.rc paymenh, a:
<br /> '� if Borrower fail�co m�lce tlx:,e p:►yment.or the paymcros nryuirnd b� P.�r�gr.►ph 2,cx fail.to pert'ortr� •rny other _
<br /> mrenant:and�o�menta cmuicrd in thi�S��a uritv(nurummt.nr them i.u Ie�rsl nnxerdinQ that muv sisenificandv uftect °
<br /> __ Laider�right�in th�k'roperty I�uch u a pnxerding in b:inkruptcy.for cuixiemnation or to enforr�law�or rcgul•rti�ms), -
<br /> ,��- then l,ender may do and pay whatever is txcessary to protext the value of the Propert��nd Lender's rights in the Pruperty, _
<br /> inaiuding p�yment of tax��s.h�c:ud insurance and othec items mentiax�d in P�ragr� -
<br /> My�nounts disbursoei by L�nder under thi�Paru�ruph shall bec�me+n wi iti�xwl�kbt uf Bcxn�wer:uxi br,ecuR�d �
<br /> by Ihis Secwity InYUUrtient. "Il�ese amount�stwdl bt�r�nterest from the�We of di.bur.cmcnt.+t thc Natc ratc.:uxi:u the `
<br /> option of I.ender.shall be irtur�edi�tcly due ynd p�ayable. -
<br /> 7. Careo�tiow. 77x qoceeds of uny award�x claim for�lamage+,direct or conseyurntial,in c��tiun with�ny -.
<br /> candetnauian or ott�er taking of any put of Uw Ptupeny.or for ronvey�uxc in plx�e uf cw�demn+tion.:un c�reby�+�igned �
<br /> �nd shall be paid to L.e�xf�r to�hc extrnt nf thc full turwunt of thc irKlebtednexs ttwt rcmlins unpaid wxlcr thr N�xe:uxi thi� '
<br /> Securiry Ir�uument. L.eadar shall appty such p�aaeeds to the miurtic��of thc indcdednes..w�ier the Note auxi thi,S�tiuriry
<br /> Ineuumen�fint to any delu'�quent nnx�unts appliod in the order pmvided in f'��graph 3. �nd then tuprcp+ymrnt of -
<br /> prineiql. My applicatjon of the procee0s w the principxl shall not extend or postpune the due date uf ttie maithly
<br /> �po�:��/���s�
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