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<br /> 1� paymeqt of pr�nclpsi,loterent and l.ote Cl�e. Burrower clwll pay when due�he principal of.und intercst on.
<br /> —�� the debt cvlrenced by�he Nwe and iate chnrgcs due under the Notc.
<br /> 2. Monthly psymenlr ot 71�xe9.Inwraoce oad Uiher Cp�r�es. Borrowcr sh�ll include in enrh mc�nlhly pAyment,
<br /> - tagether with the principal and interest�set fotth in the Note and uny lule chsugec,an in�wlimcnt af any(a)uuces and
<br /> �;, special a.ssessments levied or[o bc levied against�he Propeny.lbl leaschold paymcnta or ground n�nt�on the Praperty.wid
<br />. -- (c)premiumx for insurance reyu�rcd bY ParaBraph 4.
<br /> Each monlhly instullment for ilems la), (b) And lc) shall equul one•Iwclfih of'Iha unnual wnouma,as reuwnably �
<br /> � estimated by Lendeu plus on amount sufGcieat ta nwinuun an additiunul bul•r►kr of nut muro �h;u� unc•sixth of thc -
<br /> « T estimA:id amounts. The iull an�ual nmount for each itcro shall bc accumula���d by Lcnder within a periad ending one
<br /> _.�..—.. � month befom on ilem w�,uld became delinyuent. l.ende�ahall hold the umaunts caUec�ed in tru�t w ps►y items lal,lb1 and
<br /> - �..—�: � (al befare they became delinquent
<br /> --"�N��'�.=} . ; If et ony timc �he totul of the payments held by L.cnder for itema lu).Ib) and (c),tagether with Ihe future mon�hly
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<br /> , payments for auch ltems pAyuble to i.ender prfor to the due dutes of such items, eaceeds by more 1h+m ane•six�h the
<br /> -=s�L-y;, and if prymemr��n the Note urc cumen�.then Lxnder
<br /> ,��.. estjmated amount oi payrnentx requind tops►y such items when due,
<br /> __- �,f.,.��Y .g - shnll cithar refund the escess over one-�ixlh of tt►e etitimated payments ar credit the excrss uver one-�ialh of the e.ctGtwt�d �:�
<br /> -�'-,,,�,,,,.y`�,,;� paymenta to wbcequent Fu►ymenls by Bornower.at the oplion of Borrower. If the totul of the payments made by Bcnrower
<br /> - for item(a).(b),or(c)is insufficient to pay�he item when due.then Borrower sh�ll puy ro l.ender any amount necessury to
<br /> `�`� .�=. ��' make up the def iciency on or before tbe dntc�he item becames due. �=:
<br /> -_a...� .
<br /> .. _,�:��• As used in�his Securiry lnsuument,"Secreuuy"meons�he Secretary af Hou,ing and UrFxu�Llevelopment or his ar Iter
<br /> �� ' - -- designee. ln any year in which the Lender mus�puy u mnrtgoge insurance premium to the Secretnry,euch manthly payment
<br /> :""'`•'' . sh�ll also include either. (i) an installment of thB annual mottgage insurunre premium ta be paid by Lender to the
<br /> �_-;�;'°•_:',°:` • Secretary,or(iil u monthly charge instead of u mort$ege insuronce premium if�his Security Instrument is held by the ��_
<br /> - - -- - � �-�:� Secretary. Each mon�hty insuillment uf the moRgage insurance premium shall be in an amount�uificient�o accumulnte�he �__
<br /> - ��=���,.� � � ° full annual mongage ingurance premium with Lender one month prior to the date �he full unnunl mongoge insu�ance �---
<br /> :�:„���is;tyt- , premiwn is due to the Secrewry:or if this Secierity Inswment i5 held b�the Ser.rc�ary,euch monthly churge shall be in an
<br />`--���'.;�:''•.'� ' � amount equal to one-twelfth af one-hulf percent of the ou�standinb princ�pal balunce due on the Nwe. !
<br /> ~ a?�+''=>;:.r-;'' lf Borrower tenders to l.ender the ioll payment of all sums secured by this Security Imtrument,Borrower's uc�ount
<br />.;��:�' '`" �;"" �� shall be credited with the balsince nemuining for nll installments far items lnl. lb1 und (c)and any mortgage insurance
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<br />=�n•_���_ f•'.,•� •" premium inswllment�hat Lender has not become obligated to pay to the Secretury.And L.ender shall promptly�rfund any �
<br />--���� • ;� f��`...� excess funds to Borrower. ImmediAtely prior to u foreclosure snlc of the Propeny or i4g acquisicion by Lender.Bortowert�
<br /> < •••�'�-?'' aocount shall be credited with any balance remaining for ell installments for i�ems(ol.(bl:�nd(c). - ,
<br /> _�=,•-;i;.:�;a; ,- - —.
<br />-_'�•" � 3. A IicAUon of Pn a�enis. All a ments under Para hs I and 2 shall be upplied by Lender as follows:
<br /> - •"� •_.`h�`+': Pp Y p Y , BT�P [_�;:
<br /> = .•.�.���!r " �'�,to the mottgoge insurance prem�um to be paid by Lender to the Secretary or to the monthly charge by t1�
<br /> -_- �`" '''"'"•r �Secrctu insteud of the monlhly mortgage insurcince premium;
<br /> �r� " .•. .,, to any twces.special acsessments.leasehotd payments or ground rents.und fire,flood and other hazard
<br /> _ -- `_, ,�c,.�• .,_ in:.eirsnceprcmiums.asrequ�rrd: ---
<br /> �:�i `�`� '���:� �j$Q,to interest due under the Note:
<br />,`,,:,.; .�:-,,.,;.,••.,:�� -• �,w amortization of the principal of die Nwe:
<br /> :�:;; �; � "�•;:•;� �{,to late charges duc under the Note.
<br />:.::�,,. 4. Flre,Flood And(llher Hazprd Insurance. Borrowcr shall inxurc�ll improvements an�he PropeRy.whather now
<br />�: :,� •:�;:�,': in existence or subsequently erected,a�ainst any hnzsUdc,cusualties,and conlingencies, including fire,for which l.ender
<br /> .,; • requires inaurance. This insurnnce whnll be maimaroed in the umuunts aad far the pedodh thut L.ender reyuires. BoROwer
<br />: ;�•" � n:;':'i, shall also insure all improvements on Ihc Property,whether nuw in existence ar subseyuently erected,aga�nst loss by ftoods .;,,
<br /> �;•;;' • ,,`'�•���;;.� , to 1he extent required by the Secretary. All insurunce�hull bc:cnrrird with corupanies approved by Lcnder. The insurance
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<br /> licies und an renewals xhall be held by Lender and shall include lass payable cluuses in favor�f,and in u form �'`�
<br />__�,., ��:, ^;��`,::•':'. Po Y __
<br />- . ��:?;}:�'�•'':: acceptable to.Lender. �-
<br /> �°. � �,, � ln the event of loss,Borruwer+hall give Lender immedia�e notice by muil. Lendcr may muke proc�f of loss if not -_
<br />- ��;:'ep, .� made promptly by Borrower. Es�ch insurnnce company concemed ir hereby autharized and dinected to muke payment for =_
<br />_,.,.�', ,;,.�,��, surh loss directly to L.ender,instead of to Barrower and to Lender joinUy. All or uny part of the inrur:uue proceeds may be w�-
<br />,:l:.v �r;��..��. applied by l.ender,ut its option,either(n)to the reduuion of the indebteJnc,s under the Note and�his Secunty Instrument, F;s
<br /> ��` "�'n.`y:.�� firxt to a��y delin4uent wnounls applied in the ordcr in Pamgra h 3,and then �o prepayment of prinripal, or(b)to the
<br /> 5 �'' .i} ,u >1�{ � •
<br /> '-.,a' restoratian or repu�r of the damaged property. Any upplicution o �he prac:ccd.to Uic Exincipal shull not extend or postpone �.,-
<br /> - '�"�� : � the due dute of the monthly puyments wh�ch ure referred to in Pars�gruph�,or chun�e�he umounl of such payments. Any
<br />-, a. ':.�' excess insurance proceeds over un wnoun� required to pay all outwwnding indehtedness under�he Note smd this Security �i:
<br /> �.;;;�..,: ;��,, , Inswment xhall be paid to�he entity legully entiUed thereto. ___
<br />_ • � • „ .�y,��..,, . In the event of farecloaure of�his Securiry Instrument ar o�her trs�nsfer of�ide to the Pr�peny �hat ex�inguishes the -
<br /> � � '°}�.�,�<,<a'� indebtedness,ull righ4 title and interest of Borrowcr in und w lnsurance policirs in force.hall pu�+to the purchuser. "�
<br />��,;.; .��` a ,y'�+9�4'� 5. Occupancy, Prese�vation� Meintenance and Protection of the Property; Horrower'9 Loan AppflcAtion: m
<br /> �.''t � ° Leaseholds. Borrower xhall occupy,establixh, and utie the Prapeny us Bormwrr, principal r�sidence within sixty dayti ��-�-�
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<br />- . ��� •� after the execution of this Security Inxtrument und�holl cominue to occupy the Prr�pedy uti Borruwer a principul res�dence _
<br /> -.. .' • for ut leust une year ufter the dnte uf cxcupuncy,unless the 5ecretary determinc.�hi�reyuirement will cuuse undue hurdxhip �-,
<br />- �5;�1r?� ' for Borrower. or unless extenuating circum�tances ezist which ure beyimd Bi�m�wer+ control. Borrowar shull notify __
<br /> � ..!1� Lenders of any extenuating cinumstunces. Borcuwrr shull not commit wu.le ��r Jrtitroy,damuge or�ubtituntially change ,
<br /> the Propeny or ullow the Proprny to Jeteriorme,roa�onahle w•cur�nd tcar rxrepted. Leuder muy impect the Propeny if the !
<br /> PropeAy is vncnnt or abandoned or the loun iti in dct'uu11. Lender may tuke mu.onaMc ar�iun lu prutect anJ pmserve such -
<br /> � vncont or ubundoned Pro rt Borrowcr�hall als�� he�in d�fuult it'Burrowrr,during thc luan•rpplicution prceess,gave "''
<br /> p� Y� � :
<br />�, � .�, • materinlly fnlse or inurcurutc informutiun ��r statement. tu LrnJer �ur failcd �o providc l.ender with :u�y matennl ..
<br /> informnuonl in connertion wi�h the loan evidencrd by�he No�e,inrluding,but no� limited ro, repre.enta�ion�runceming •�=
<br /> � ' Borrower's occupancy of the Pmpeny�.a prinripal r�+iJenre. If this Srcurity In.trunnnt i,cm u Iea.chold,Bortower.hull ,
<br /> �;i � comply with the provi�i��na ot'the Ica.�c. If Bnrrowcr acyuire.tcr lide tu thc Pro�rty.the Ica.rhold und fee tille�hull oot
<br /> � be merged unle.s Lender ugnrc+to thr mrrgcr in writiu�.
<br /> � 6. Chorges to Borrowcr Lnd Protection of Lender's Ri{;hts in the Property. Burn��ti•er.hall pae• ull govemmentul `
<br /> � or municipul char�tr�,finex anJ im�w�ition�thal arc nut inrluded in P•rraLraph 2. l3ocr��wrr+hall pay thrse obliEution,on �
<br /> time directly to the enli�y whirh i.uw�d thc pa?•mcnt, If failurc w p•r�• N��wld ad�•cr�rly affrrt l.rndcr'.inten:sl in thc
<br /> Propeny,upim LenJer'.reyucyl Borruw�r+hall prumptly fumi�h to Lcndrr rercipl+cvidrncing the►c payments. �
<br /> If Borrowe� fuils tu mukr Uir,e pa��ment�ur thr pa�mrnt. rryuired hy Paru�!raph ? ur tbil. ta perfimn:my oiher
<br />� - ....... ....1......,....,...n..•nntuin.•d in Ihi� Srrul'il\ In.trument.or thcrr i,a Ireal nr�xi�rJin�lhat may+�gniticuntly:1��C1'l
<br /> - - .._ «�,•"..._....._,...._...._ ... . ..
<br /> L�nder's rights in thc F'rupeRy(�urh a.a pnx:ceJinN in b:u�hruptry,ti�r cunJrmnation ur tu enfurce luw,ur nFulauon�l.
<br /> ' � .. then Lcnder muy Jo nnd puy whutev�r i�nrce+,ary to protcct tlx�valu�uf thr Proprrty anJ l.enJcr i righty in the 1'm{xny. �
<br /> including payment uf tuxes,hatarJ imur.uu�:uiJ u�hrr ilrm�mrn�iunrJ in Wra�raph 3. �
<br /> ' Any+unour.ts Jirbunecl by Lendrr w�Jer thu 1'aragraph�hall t+ecumr an aJdiuunal JcM ui't3um�Nr�auJ Ik.c-�wrJ
<br /> . � . ' by thix 5ecurily Imtrumeol. Tlie,c�muunt�,hall Ixar interr�t fnm►Ihr date��f Ji.hunemcnt. et�hr Notr r�tr.�md nt tlx ,
<br /> ° option of l.ender,shall tx immediatrlv du�and payablr.
<br /> . 7. Condemnatbn. Th�pnxrrJ.uf:uiy aw urd ur rlann I�ir Jum:�gr,.d�rrct�,r cun.ryucnual.m cunncrtiiai with uny
<br /> cundemnation or othcr tuking��f any pah o���hr Pn�Fxny,ix for ronve•ancr in placr ul��unJemnatiun.�rc hrrcby uc,igned �
<br /> � und�hall tx p�iJ ta LcnJer to�hr rticnt of thr full amnunl uf thc indr�t�Ylnc.+Ihai r�n►ain+unpaiJ undrr th� Nutr and thiti
<br /> Serurity Instrument. L�iuier�hall appl�•+uch prucerd+lu the rrduction ul'Ihc mJrht�Jnr..undrr ihr Natc:md thi�Srcunty
<br /> Intirrument, tint to any drl�nyuent amuunh applirJ in thc �mler pruviJ��l �n ParuNraph �, and then tu prcpaynunl uf
<br /> • . pnncipal. Any uppliculion ui the pn►c�cd� tu thc pnncip�l ,hall nut rucnJ ur �w.t�xmr �hr duc Jutr ut th� monthly
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