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<br /> =-���� z 91-- 108852
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<br /> —s 1. Puymenl ot Pirincipol,lntorest pnd Lpte Char�e. Bonowcr shull p:►y wtx�n due the p�incipal nf,uui interes�on,
<br /> �� �� tha deM ovirenced by Ihe Note and lutv churgan duQ under the Nute.
<br /> _ -- -- 2. Manthl7 p�ymtnb ai�7yttien..ImwrwncQ aMd Qlher ChI�es. Borrowcr Fh►dl includr in c�ch m�xuhly paymem.
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<br /> togcthcr wilh Ihe princip�l und IMerest oa set forth,in �he Notr nnJ uny lute churges, nn instullmrnt oi' unY la)tuxes and
<br /> ��;-� spcciel usseawnentR levicd or ta be le��ied ogoinst dxr Properly.(bl leasehold puymems ar�r�wnd mntx on the PropertY,wid
<br /> -' lc)prcmiums for inwrance royuircd by Parogrrph 4:
<br /> -.- --- --
<br /> •�' Ench monthly ins�nllmrm far i�ems (a), (b?u�xi Icl shall eyunl one•twelfth uf ihe unnual umounl�,u. rensrn►ubly
<br /> estimuted by Lender. �luv on.omoun� �ut'�iclan� ��� mainuun on nddu�anal balancc uf na morc �han nnr-��xth uP t =
<br /> - esumated mnountx. 71u: full unnual omoun� for euch item shall t+e eccumulutcd hy l.ender within u peri��ending one
<br /> __��.�;— mon�h I+efore un item w�wld br:cume cklinyua�x. L:r�r shsl!hntd thr amounia collrcted in uu�t tu pay iiems la).lb)wid
<br /> -*- (c)bofore they becane delinqamt.
<br /> __ ��:;s�,��fi If At any time thc taal of ihe puymenta hutd by l.cnder for items 1u1. 1b1+u�d(cl,togcthcr with the futu�e mantfily
<br /> ---= payments for such items pa�':�ble to LenJer prior to the due dntes nf such iiem+,rxceed� by more than one-sixlh the
<br /> ,,,,: A-�` esumated omount of payments reyuired iupuy such items when duc,und if puymems on thc Not�an curren�,then L.ender
<br /> ,`,,.�',�,,?��,��s;j.,.. f shall eithe�refund�he cxce:�s rner onr-sixth of lha es�imated paymentti or credit the excexs uvrr une-sixth oP ihc cstimatcd
<br /> -__ +t�..K.°..� �
<br /> Y- , payments to subsequent paymcn��by Borrower.at.the option of Borrowcr. If�he total af thc payme�4g made by ortower
<br /> ____ � ,t ,�Y for�tem la),(b),or(c)is�n.rufGa��u tu pay thw iG:m when due,then Burrower shall puy lo Lender any umouni necesserY�o
<br /> ==--e'.�,�„. muke up the deficiency on or befora the dut�s the it�tm becomes due.
<br /> — - As used in this SecuritX]nstrument,"Secrctury"meu�s the Sevre�ary of Housing und Urban Development or his ur her
<br /> :��._ designee. ln any yenr in which the Lender muxt pwy a rnonguge in�urnnce premium to the Secretary,each month�y PaYmen�
<br /> ;, shull also include either: (il � inst�llmant of the annuul mortgage insurance premium to be puid by Lender to the
<br /> __ `��?''�'r,: Secrctary, or liil u month�y charge instead of u mortgage insumnce premium if this Security Inxtrument�s held by the
<br /> - - ° Secre�ary. Euch mon�Aly inscallment af the mo in+umnce premium shall be in an,mwwit sufficient to uccumulate the _
<br /> � •�"���� � • full annual mortgage insurance premium wid��der one month prior to the date the full annuul mangage insurance _
<br /> � ���,:�;� � premium is due to the Secretuy;or�6 thia Securin lnst�ument iy held b�the Secretury,ench monthly charge shall be in ru►
<br /> �_�� �� ,�'� .�'i'�t�;;�� I emount equul to one-twelNh ai one�half p�rcent of the aulstanding princ�pal balnnce dus on the Note. _
<br /> ---_. �P..��� �� � If Borrower tenders ta l,ender the full pu inem of all sumti secured by this Security lnstrument,Borrower's account
<br /> r,.,
<br /> •�-�,�?+ „,� „ shall be credited with the balonce remaining ar all instullments for items (a), (b)und (c)and an mangage insursux�e
<br /> °�:�'��:,.. � =
<br /> - � �-: �•=�. premium instnllment that l.ender hes aa becoma obligated to pAy �o the Secrewry,und Lender shnl promp[ly refunJ an•
<br /> �'`'`'; .. • �
<br /> excess funda to Borrower. Immediut�ly prior to a forecbsure sale of the Property or its ecquisitian by I.ender,Borrower�
<br />;^ � �r, �; -=•�` " accaunt shdl be credited with au►y balunce remuining for all installments for items(a),(b)and(c).
<br /> ..�t, � ;� 3, Ap kation of Payments. All puymcntn under Hungmphs 1 und 2 shAll be applied by Lender as follows:
<br /> ___ .. ,,� '�•h,°`�',�•. FJ$$�to the mort$age insuranre premium tp be p�ld by Lender�o the Secretury or�o the monthly churge by the _
<br /> _'�°� f,'��;� Sec�r��etery ingtead of tho monthly mortga�e insurarice premium;
<br /> �� ��..;,,:�'is-- =1 $,ECOND.Io any taxea.specinl axsesamantK.�easehold payments or ground rems.and fire.flcwd and other hazard
<br /> -�;,sn • #i;... .-_,-'; insurance pnemiums.�nr�yuue�t.
<br /> `:<<;�,y -�, •.. , .,'�•;�:, �$Q to interest dur under 1he Note: _
<br />`:?lj�,. ' . •;i',. FOUR1'I{.to wnoniu�tian of the princinul ot'ihe Note:
<br /> `�''•"' r.. �:•����n �,to late charges due undrr ihe Nw�t.
<br /> -2:;��, • 4. Fire,Flood aad Other Hazard In�urnace. Bonx�wer shall insum ull improvements on the Propeny.whether now _
<br /> �,�'.',..
<br /> �'"j� '' , in existence or s.�bsequently erected. ugainxt nny hazards, catiuulties,sind rnmingencies, including fire, ior whir.h Lender
<br />._�,,,,, ,., . n -
<br /> �=•� �'�f � �„ requires insurance. This insurance shall b.�maintamed in the amounts and for ihe periods thnt Lender rcquirec. Barower -
<br />'�r ��: �� '� � '� � shall also insure ull impm�•ements an tha Pnopeny,whether now in existence or sub�eyuently erected,ogains�loss by Iloads
<br /> •�±�;.'. "' '�""�' '"" to th¢extent required by tht Secretary. All inaarw►ce shall be curried with cc�mpunie�uPproved by Lender. The insurance
<br /> ��::�, •' n '' policies und any renewi�lt zhull Me hekf by L�:nder und shall inrlude lass paynble cluuses in favor of,and in a form
<br />- . •�°y}i ' . acceptnble to,Lender. -
<br /> • In the event of loxs. Bc+ROwcr shull giv�t Lender immediutc notice by mail. Lcnder may muke proof of loss if not
<br /> " �� made promptly by Borrc►u�:r. Eurh inxuranee company coneerned i+hercby uuth�mzed and direc�ed to make payment for
<br /> - � 4 J�� such loss directly to Lendc�,inxtead of to Borrower:u�d to Lender jointly. All ur uny purt of�he insurance proceeds may be
<br /> '=, `���� �'�` ` ;� ". ' upplied by Lender,ot its o�ticm,cither(a)�o thr rcduction uf the indebtednetis under the Note smd this Security Instrument,
<br /> : ; tirct to ony dclinquent umaunts upplied in the ��rder in Purugrnph 3, und then to prepayment of principal. or(b)to �he
<br /> - I ;t�° "' . restorntion ar repair of the damaged propenr. Any applicution of the pr�eeds to the pnncipal shull not extend or postpone =
<br /> ��:•� •`�' '! �^ the due date of the monthfy payments whrch:ue rrferred to in Paragraph?,or changr the amuunt of such payments. Any -
<br /> ,.a,=:�� ;�;tc'''"''� excess insurunce proceedF o�•er un umount reyuired to puy ull outstundinb indehtcdnecc under the Note and this Security _
<br /> = "r � lnswment shall he paid�o the cntitY Icguliy entided thcrctn.
<br /> .+'�•'�� ' •• ° in the event oP foreclu�ura ot this Security Instrumem or othrr transf�r of tide to the Property thnt extinguishes the
<br />':'•;,•'•'1ti �:=�-- - indebtedness,all right,titlt:uid imcrest ot'Borcuwer in und to insurance policies in force shall pa+.to�he purchuser.
<br /> "-';f�:{;;. 5. Occupsu►cy, Preservation. M�intenanm and Protection oP the Property; Burrower's Loan Appliration;
<br /> "'r ;�,���`" • Leaseholds. Bortower shulU uccupy,ext�blish, und ux the Prope:ny us Borrowrr's pnnripal rcsidence within+ixty days
<br />-�� :� �;'�� afcer thc execution of Ihis Security Inxlrument and shall rominuc to ixcupy the Pr�qx:ny as Borrower: principal residence
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<br /> J`� �.° .,• :-�- for at least one yeor nfter the d�td of occupancy,unlex,ihr Serretary detem�ine�thi+rcyuirement will cuuse undue hurdship
<br /> - � ". for Borrowcr. or unless eztenun�inF circumntances exi�t which arc lkyond Boraiwer� control, Borrower shull notify _
<br /> ' "`�'' Lenders of any extenuating circumntance�, Borrower shull not commit wa.te or Jr.troy,damuge or�ubstuntiaily change
<br /> ... �:�5i';.��.� _.
<br />. „ ���•,.;,:t{', the Property or ullow lhe ProExrty to deteriurate,rca,onablc wcur und teur exceptrJ. Lendcr muy mspect�he Propeny if�hr -
<br /> , , Property is vucunt or abandoned or the loan is in defuuh. Lender may�akc rea.unablc artion to prutec� and prcxerve such
<br /> ��` • vucant or wbandoned Property. Borrowcr shall aka iu in dct'uult if Borcuwer, during thr lo:ui applir•rtion proces,.guve
<br /> '�`' � .t;?�,;�,;: materially Fulse or in�ccurnte informution or s�uternent. to LrnJer lor failyd �o pn�vidc l.ender with uny muteriul ,.
<br /> • :.�.i;;;:• informatian)in connection with the loun evi�knced by the Note, incluJing, hut not limited to.repre�entations conceming
<br /> %•;:'->�•� Borrower's accupancy of�he Praperty u�a prinripul rc+idrnrr. If�hi.Srrunt}Imtnutmnt is on a le�.chc�ld.Borrower shall
<br /> ,, .. �.
<br /> �•°`��" =+% comply wi�h thc provisionx of Ihc Icase. If Borr��wcr�kyuim.Irr tiQc lu thc Prupcny,lhe leutieh��ld and(ec title shall not -
<br /> . . .'yS�'; �
<br /> -� , be merged unles.Lender ngrces�o�hc mcrgcr in wriiinE.
<br /> • 6. Charges to Borruwer nnd Protertian of'Lcnder'c Nishtx in the Prapert�. B��rrowcr shall pay all govrrnmc.nlal
<br /> � � „�.t,,. .. or municipul charge�,fincx•rnd impusitianti that ure niH inrluJcJ in Pura�;raph 2. Borrower tilwll pay these ��t►li�utions on
<br />� • ,,',.;��r�,: time directly to the entity which iv uwcd�hr paymrnt. lf t'udure tu pay wouW aJvcnel} �ffect l.endcr's interc.i in Ihc
<br /> ' � , �;"���s rt ,u n Lender's n urst Bnrrawer shull rom tl 1'umiYh ta L�nder r�cci t.cviJencin Ihese a ments.
<br /> , � . �. i:,,,��w �'�P� Y Po 4 P F� Y P F P Y
<br /> , ,"_"s,��� • If Botrower fails to mukc the�c puymcn�, ��r thr puymrntti rcyuired by Paragraph 2.or fuils to pertiirtn uny other i
<br /> ._ .u.. ,i.. ..�.. ...17on�hne ma�• .�vnitirnndv uffCCl
<br /> - - covenancs and•rgrecmcm,cuniuincu i��iii�,:,�tu��ij .��.,c�.:���:r�c.:.r,...:�x:...t».,-'==•°__...�...-- -- . .
<br /> � �-- Lender� rightx in the Rapeny I+urh ax a pnxrrJin� in hanhruptcy, fur rondemnatiun or ro cntorce law,�x regulutionsl. '
<br /> r__ _ _. _. then Lenekr muy Jo und pay whutever ix necr.�ary lu pnitcct thr valur of the Property�nd Lrnder's n�:fi��in Ihe Pmprny.
<br /> � � � including payment uf�uxrs,hu�urJ in,uranrr und nthcr itrm.mcntiancJ in Par��raph�.
<br /> • j ` - . Any;unounts Jix6nned by LenJcr unJrr Ihi. Pura�rapli.hall l+ccumr an adJitiunal dcbt uf Bum���cr�nJ hr�crurcd
<br /> '` -''o by�hix Security Imtrurt�cm. The�c nmuunt.,hull tx ar intcrc,�Ir��m the date��f di.hunrment,at thc Note r.�te,and a�Ihe
<br /> � " option of Lendcr,+hall t�e immeJiu�clv Jue unJ payable.
<br /> 7. Cundemnatlon. Th�prckc�Jti��f;uiv awurd or claitn 1'ar Jumugc�.diRrt ur rum�yu�nti•rl.in«mn�c�inn a•ith un�.
<br /> � . conJemnntiun ur othcr tuking uf nny purt�iC t��Pro�xny,ur t'ar amv�vanre in plare af rimdcmnation. :uc hcreby us,igncd
<br /> ., • und rhull Ix paid to Lcrnler to the exteN of 1he t'ull•rnwunt ut'thr inJcht►dne.+thut rrmain.unpuiJ unJer th�Note und thi�
<br /> � Securily Invtrument. Lender+hull upply�uch pnxeed.�u thc rcJuctiun uf thr inJrMeJnr.,undrr the Ne��e anJ�hi,Sccurity
<br /> lnstrument, first lo any delinyurnt umuunts applicJ in the unler pro�iJrd in R�ragraph ?. :uiJ then to prcp•r�imnt of
<br /> , prin�:ipul. Any applicution ut�thc pru�:c�vls w thr pnnripal +hall nut cxtrnJ ur Ex�.tpunc thr duc dalc �d Ihr munthly
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