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<br /> � 1. Payment ot Princ(pd,Intere�t And L�ta Char�e. Barrower shxll pay wh¢n duc�hc pri�a o�;and i�rc�t on,
<br /> the debt evidencod by the Note and fate churger due under the Note.
<br /> 2. Moalbly poymenb ot lbxex,Itt�urAnce at�d Other C6arges. BoROwcr shull include in euch monthly pAymcnt,
<br /> together with thc principul and interest a4 sct forth in the N�te and any latc churges, un installmcnt of any (a)taxes nnd
<br /> specid assessmenu levied or to be levkd against tt�e Property,(b)leASehold paymentc or�round ronro on thc Property,and
<br /> - - (c)prcmiums for insurance required by Paragruph A.
<br /> ':-�'°"'"'——"`"' Each monthly instel{ment for iumti (a}. (b) and(c) shall cqual onc•twclflh of Ihc �mnual am��unth, •rs ra:l.wnubly �
<br /> ------W----� eciimeted by Lendel, plus an ama�nt sumcfent ta maint�in an additianal balxnce of not more thw► one-sixth of the
<br /> estirnated amountc. The full wmvai r+mount for each item tihAll be accumulated by l.ender within a period ending one
<br /> - - manth before an item would become delinquent. Lender shall bold thc amounts collectcd in trust to puy iums(a),(b)and
<br /> _____��_,���_ (c?before they become delinquent.
<br /> =° ��� If at any time the total of the payments held by Lcnder for Items(a),(b)and(c),tngether with tho futurc monthly
<br /> __— payments far such itcros payuble ta Lender priar to the due dates of such items,exceeds by more than one-sixth the
<br /> —�`''� P
<br /> - - - esarnated amount of payments rcquircd ta ay such items when due,And if paymenta on the Note nrc curnnt,t en n r _
<br /> shall eidier refund the cxcess ovcr one-sixth of the est�mated puymenta ar credit the excess ovvr ona•sixth of thc estimatcd
<br /> ..._ ---`E-"�" payments to subse�quent payments by Borrowcr,at the option of Borrower. If thu total of th�paymont�mndc by Iiorrower
<br /> for itcm (a). (b),or(c)is�nsufficient to pay the itern whcn due,then Borrower shull pay to l.endarany nmount necesw�ry to
<br /> r make up the deficiency on ar before the date the item becomes duo.
<br /> _��";�;.� As used In this Security lnstrument,"Secretary"means ihe Secretury of Hauwing und Urban Ikvelapment or his on c�r _
<br /> _ —`"'e designee. In any year in which the Lender must pay a mortgage in�urance premium to tha Secretary,each monthly payment __
<br /> � �� �� shall also include either: (i) an installment of the annual mortgnge insurance premtum ta be paid by Lender to the
<br /> _ ���..;�,. ,��•F.,��,�n� Secreuuy,or(ii)a monthly chargc instcad of s rnartgt►ge insurance premium If this Securtty Instniment es held by the ._
<br /> � , Sec:retary. Fxch monthly installment of the mortgage insurance premium shall be in an amcwnt sufficient to uccumulate the
<br /> - ;�;�-��"� full annual mortgage insurance premium with Gendar one month prior to the date the full annual mortgage in�+urance
<br /> ' `-"'��'� �� ' premium is due ta the Secretary;or if this Security Instrument is held by the Secretary,euch manthly chsuge shull bo in an
<br /> �,.... ....
<br /> ��2'�`;7`:"".;� ' � ' amount equal ta one-twelfth of one-half percent of the autstanding principal balance due on the Nate. _
<br /> ��,. ..�,-ln;���,.
<br /> .;�;'.,�.,.,,,�.;,..,;. !f Borrawer tenders to Lender the full payment of all sums secured by this Security Inctrumant, Borrower:s account _
<br /> 'x�.w�:;5i::,��;, �,:::,,,;: ahall be crediled with the balance remaining for all instaliments for items (u), (b)und (c)und any mortgage insurance —
<br /> =•� • • • �•r�t�;.. prernium installment that l.ender has not become obligated to pay to the Secretary.und Lender tihall promptly refund an�+
<br /> - �'��K•��•;+o►•«�.-��..•''�,` excess funds to Barrower. Immediately prior to a fareclosure sale of the Property or its acquisitiai by I.endcr.Borrowers
<br /> _- ^"=F•�_ '`�r".'•' '' account shall be credited with any balance remaining for nll Installments for items(a),(b)and(c).
<br /> �;���;�,;,,��,,Y:,-,,, 3. ApplMattion of Pstyments. Atl puyments under Paragraphs 1 and 2 shaU be upplied by Lender:�s follows: _
<br /> . FIRST,to the mortgage insuruncc premium to be paid by Lcnder to the Secretury or to the monthly chuge by the _
<br /> ��y';'"'
<br /> _ �:p�;s..�-, .:'- � �'�� Secretary instead of the monthly mortga�e insurunce pnemwm;
<br /> + , �.i�.�...:�:- _��.� SECOND,to any taxes.speciul assessments,leasehold payments or�round rentx,and fire,flood and other hezard -
<br /> :� .. insurat�ce premiums,as requimd;
<br /> _,:. ..
<br /> , THIRD,to interest due under the Note;
<br /> � FOURTH,to amcrtixation of thc principal of thc Notc;
<br /> ' "��''�" �.to late churgcs due under the Note.
<br /> � ' ., • 4. F(re,Flood and Other Hautrd Insurance. Borrowcr shull in�urc ull improvements an thc Property.whethar now
<br /> - ~ in existence or subxequently erected,aguin�t any hulurdr�,rasuultios,and contingencies, including fire, far which Lender
<br /> ��� • � requires insurance. This insurunce shall be mufntuined in tho umounts und for the periods that Lendor reyuiees, Borrower
<br /> . . . shall also insure all improvcments on thc Propeny,whethor nc►w in cxistencc or subsequently erected,uguinst loss by floods
<br /> ' ' �,,i,;., to the extent rcyuimd by the Secnt:uy. All insurunee shull tw cnrried with comp:u�ies approved by Lender. Tho insurance _
<br />..�: ' _, .�,. • policies and any renewals xhull bc held by l.ender und shull include loxx payuble clauses in fuvor of,and in a form
<br /> ;�� ;�• acceptableto,Lender.
<br /> 3� °�'•• • � • -- • �,s: (n the event of loss. Borcowcr shall givc Lcnder immediate noticc by muil. l.ender muy muke prwf of loss if not
<br /> s made prampdy by Borrower. Exch in.urance compuny concemed ix herrby authorited:►r►d directed to make payment for _
<br /> .f * _ ' • surh loss directly to Lender,instcad of to Borrower and to Lender jointly. All or any part of the in+urance procceds may be
<br /> - applicd by Lcnder,ut itx option,eithcr(u)to the reduction of thr indeNtcclnctiti undcr the Notc:u�d this Sccuriry Inswment,
<br /> .. , first to any delinquent amounts upplicd in th�ordcr in Paragraph 3, und then to prcpayment of principal, or(b) to thc
<br /> . rctitoration orrcpuir of the damuged property. Any upplirution c�t the procecdz to the pnncipal shull not extend or postpone
<br /> � � .•��;i the due date of thc monthly paymentn whic:h are referreJ to in Paragraph l,or chanFe thc�mount nf such payments. Any
<br /> o'�' ' ' ' � excess insurw�ce proceeds over an :unount reyuired to pay ull outstund�ng mdrbtrdnesx under the Nute and this Security =
<br /> - Instrument shall be paid to the entity tegatly entitled thcreto. _
<br /> `,' ;,,,.`_; In the event of tott:dosure uF thix Security Inxtrumcnt or othcr transfcr of title to thc Pru�xrty that extinguishcs the _
<br /> •�+ ,�*� indebtedness,all right,tide and ineerest of Bonow�r in anJ to in�uruncr policie,in forcc tihall pa.tis ro the purchaser.
<br />=�',� �� , 5. Occupancy� Preservatfon, Maintenance and Protection of the Property; Borrower's Loan Applicntion;
<br /> -•r"'• kt.,.;;w;°� •� r Leaseholds. Bocrower shall accupy,establish,and uu� Qte Propeny as Borrower,pnncipat re+idence within sixty days
<br /> - . . . after thc execution of this Security Inxtrument and shall continuc to�xrupy the Property us Borrower�principul residence
<br />_ • for at Ieast one year after the dnte of occupancy,unless the Secret�ry Jrtertnineti this rcya�rcment will cause undue hurd�hip
<br />- �.� ' ,. for Borrower,or unless extenuuting circumtit:mce+ exist which arc beyonJ Borrowcri control. Borrower shnll notify
<br />- ,�- ��w• :,,y � Lenders of any exte�uating circumstunces. Borrower shnD not c��mmit wustc or destroy, damsge or substantiaUy change
<br /> �' the Property or allow the Property to detcriorntc,rcasonable wear:utd tcar exccptcd. Lcndcr muy intipcct thc Property if the _
<br /> i.'.•�. . �'s'�-"''= � PropeRy is vacant or abandoned or the loan is in default. Lender may takc rrasonablc uctinn to protect and prescrvc such
<br />- � . � vacant or ubandoned Propeny. Bnrrower shull also tx in defuult if Borrowcr,during thc loan application prexess,guve =
<br /> ^'� materially false or inaccurate informution or statements to Lender (or failed to provide Lender with any muterinl
<br /> "'� _ !�ri•k=-��++d �^ information)in connection with the loan evidenced by the Note,inrluding,hut not limitrd to,representations conceming �
<br /> '• + ,�*„1,�,�:"4�,�, Borrowcrk acupancy of the Property a+u princip�l re+idence. If thi,Scrurity Imtrumrnt i.cx►u Ieasehotd.Bomower shAll �
<br />— �.--�•��•,. , comply with the provisions of the Icasc. If Borrowcr acyuim�f'cc tidc to the Pmp�:rty,thc lc;►.x�hold und fee tide shall not _
<br /> ' �+'`"'�Y.:� be rncrgcd unlcss Lcndc�agrecs to ihe mcr�cr in writing.
<br /> , 6. Charges to Borrower and Pratectinn of Lender's Rights in the Property. Borruwcr shall pay all govemment;,l -•
<br /> '-��i or municipal charges,fincx und impositions th�t:ue not included in Puragraph 2. Borrower shali pay the�e obligations on _
<br /> time dinxtiy to tl�e entity which is owed the payment. If failurc to pay would udvenely uffect Lender's intcrest in the
<br /> � — Property,upon Lend�rS request Borrower shall promptly fumish to Lendcr receipts evidencing thesc payments.
<br /> if Bornower fails to make these navments or the navments reuuin�ei bv Faras�ranh 2,or f�il�to aerFotm su�y other
<br /> � covenRnts�nd agreernents contained in ttiis Sr:curity Insfrument,or tticre is a Iegul proceeding that muy significandy affect �-.
<br /> _ Lender�s rigBts in the Property(such as a pnx:�rding in b;uikruptcy,for wndemn•rtion or to enforce laws vr regulation.r•). `
<br /> then i.ender may do and pay whatever is necess�►ry to protect the value of the PropeK�und Lender�rights in tlx�Property.
<br /> including poyment of texes,hazard insurance and other uems mentioned in P,�r•rgraph...
<br /> My anwunts disbursed by Lender unJer this Para�raph shall become an additional deM of Borrower and be s�:curcd
<br /> _ by ttiis Securiry Instrument. 'Itiesc sunounts�h�ll bear mtcrest from the date of disbursement,ut the Note rate,ynd yt thr
<br /> option of i.e�der.shall be immodiately due wtid payable. �
<br /> 7. Comdetnoatbn. The proc�eeds of any award or daim for damages,direct or conseyucntirl.in connection with any
<br /> condemn�tion or dher taking of any put of the Property.or for conveyance in place of cor�demn�ticx►,arc hercby a.signed =
<br /> md shall be p�id to L.endcr to the extent of the futl amount of the lndebtedness thAt rems�ins unp:►id under the Note:md thiti
<br /> Socurity InsuwneM. Lender shall apply such procads to the rcduction of the indebt�dne+s under the Note and this 5ecurity
<br /> Inat�urt�t, fust W any detinquent �twunts applied in the order provided in Pxrngr�ph �,uid then to prc�a•ymcnt of �
<br /> principal. Any applicuion ot`the prooeais to t!k prlr�cipal shall not extend or postpone the due d+►te of the monthly =_
<br /> rPrRe 2 aI0 po�es► -
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