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<br /> 1. Poyment ut Principnl�Intere�t ond l.�tb Chpr�e. Borcuwcr shuli puy when duc thc principul uf.und imcr�xt nn, ____
<br /> thc debt evidenced by thc Notc and Iate char�;es duo undcr the Nutc.
<br /> -__���.�� 2. Monthty paymentn ut'Ihzc�,InsurAnce and Other CharRes. Borrowcr�huU includc in carh manthly puymcnt,
<br /> — _ tagcther wlth the pnncipul and interrst u+u:t forch in tha Nnte and uny latc churgc�,un imtaliment of any(a)taxcs unc! ti��=�m�.�-
<br /> 7� � � �pecial assexamentx levied or to t�c Icvied a�uinst Uie Propeny,lb)leayehold puymcnta or ground rentz on the i'roperty.und �"�°`*��"�•^,=
<br /> • �+:. .,•,'�
<br /> _,: (c)premiums for in�ururue reyuircd hy Puragraph 4 �T.=-�__
<br /> Each monthly in�tullment for items lu),tb)and(c) shull eyual onc-twclf'th��t'thc unnual umountti, us rcusonably �,�,.4�-�-•-�----
<br /> ; :�•rrr .�, estimatcd b I.rnder, plur: un amoun[ ,ufficient to muint�in an additional balance of nnt morc thun eme-,ixth of thc ._.�--�
<br /> Y �.---rr:;�r:,
<br /> esnmated amounts. The fuil annuul umuunt fur cuct► item:.hull tx:accumulutcd by l.ander withtn a perind ending ane �
<br /> � ��.,-�,:,,,,,,,��.,_._,� month before en ftem Wa+ld become delinquent. Lendrr shalt h�id the�imcwntx callected i�trust to puy item.r• (a),(b)and � _ _ _
<br /> _ �_ (c)before they become dclinquent. �=���
<br /> '* !f At any time thc totul of the paymcntti hald by Lendcr for itcros tu1.(b) und (c),tagrthcr with thc future munthly T"""T'=
<br /> payments for such items ps►yable to Lendor priar w tha due date+ af such items, exceeds by more thun one-tiixth the �"-'���•`��'-��"�
<br /> -''.'I;+�.��,, . estimuted amount of Qayments required to pray such itums when due,and if paymentti cxi the Note are current,then Lender ����+�'�'
<br /> ' ,�:,��.�, shall eithe�refund th�exccss over one-sixth of thu cstimiited paymcnt�or credit thc excess over onc-sixth<�f thc cstimatcd �� �v�
<br /> -- �—�':-,�.=.'.:.:��=
<br /> �,T payments to subseyu�nt payments by Bonower,at titc option of Borrnwer. If the mtal nf the p:ryment,madc by Born�wer �" .;.` • ��-�._ _
<br /> -"''S°--'� for item(a),(b).or(c)is msufficient to pay the itom when due,then Borrower shull puy to l.ender uny•rm��unt necess:►q•to `�"��`"'�.,�`-
<br /> � •-"�r.,n,�.,' °�" --- _
<br /> � make up the deficiency on or before the date the itum tkcomes duc. •�j'�'�L�'
<br /> �_^..� ., -��.
<br /> As used in thin Securiry instrument,"Secmtury"muuns thc Secrctary of HuusinF und Urban Dcvelopment or his on c�r .r..: . s�•
<br /> ��lN.a .�rtir,-. � �
<br /> �;;d�e;�s;;�ti�^:� � designee. !n ony year in which the Lender must pay L mortgage imur:uue premium to the Secrewry,rach monthly pnyment • �
<br /> •s�i�r,..;;;.;��.a shall also include eithcr. (i3 :u� inatalln�ent oi' thu annu.►1 ���o�tgage insurnnee p�emium tc� be paid by Lender to the ::,^1ir�r�,��_:•
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<br /> � Secretary,or(ii)a monthly churge instead of a mortgage insurance premium if this Security Instrument �. held by thr �k„�s�-4
<br /> c �,z„.r...::�`��;��:.�: Secretary. Euch monthiy instullment af the mortguga inhur:u�ce premium shaU be in an amount sufficient to accumulate the o, �
<br /> , ,,_:t.;.� iuii annuui murtgage insurance premium with Lendur one month prior to thr dnte the full annual mortgaFe insurance �; wT��'.�� _
<br /> �;,." _ p�emium is due to the Secretary;i�r if this Security Inhirument is held b�the Secmtary,earh monthly ch;►rge xhall be in an •�
<br /> � � - . amount equal ta ane-twelfth of onahalf percent of ihu��utstanding princ�pul balance due on thr Notc. � +�; :�-
<br /> f � ' Tf Borrower tenden to Lender the full paymont of all xums zecured by this Security Instrument,Borrower.accaunt r ;r;
<br /> . . '_ �;? shall be credited with the balance remaininu for all inhtullments for itrms (a). Ib) and (c1 and any martgagc imurance ; .,!�� .
<br /> "` ` `.�'` premium instapment thut L.ender has not 6ecomo obliguted to pay to the Secretury,und l.ender shall promptly refund uny
<br /> excess funds to Borrower. lmmediatcly prior to a fot�eclasnre snle of thc Property or its urquisition by Lender,Borrowcrc ,, A=
<br /> :•t- account shall be ceedited with uny balancc remaining fur all inxt:�llments for items(a). (b)und(c). i•'��� 's,.
<br /> ' 3. A IicAtbn of Pa ments. All a menta un dcr P nr.� ra h+ I an d 2 shull be a p plicd b y Lendcr a.follows: � �� '°a'"
<br /> �.�,�<4 :� , � ., :i '
<br /> •, . Fj�T to the mortgase insurance premium t��be paid by Lender to the Secretary or to the monthly churge by the � • .
<br /> x;••. r..,'.,R�'.' Secretary instead of the monihly monguge in�urance pmmium: ��
<br /> � �. . _•., ' SECOND,to any taxes,special astiessmentK.luusehuld payments or ground rents.nnd fim,flood:uid other hururd �•
<br /> L `` insurance premiams,as required; r -t�sF'=�''.
<br /> _•s.:i�r''.r»t�".:.,;� '• •r' T4�11AD,to intR�rct dne under ihe Nate: �'S�W!--
<br /> ''f>;,.,_.' � : FOURTH.to amortizution of the principal af th�Notc;
<br /> :,,'��::.-� • • < ��,to late churges due under the Nate. ��'"�,���;,,,,�'
<br /> 4. Fire.Flood and Other Hazurd InsurAnce. Barruwcr shall in�urc ull improvements on thc Property,whethcr now .. �,..,._�
<br /> � � in existence or subsequently erected,aguin�t any hflr�rds, cativaltic+,und contingencies, including �re,for which Lender -i.�s�:�°�-�,
<br /> requires insurnr►ce. This insurnnce shall 6c maintuined in the amount+•rnd for thc pe.riods that Lender reyuircs. Hortawcr ;••����'�•.�
<br /> • shall also insure all improvemcnts on�he Property,whcthe�now in existence or tiub+eNucnNy erected.:�gaintit los.by floods �'��'�� -
<br />- ' to thc extent required by thc SecretAry. All inxuruncc sttull he rarried with com unicx u mved b Lender. The in�urancc . ••°� - ���
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<br /> : • policies und any renewnlx .hull be held by Lend�r und shull incluJe loss payablc cluuxs in favor ot�. :►nd in a form 'z:�_��, : �-
<br /> , acceptuble to,Lender. '. .:�:,• ,��,
<br /> a. ' ` ;" '.. ,,." In the event of loss, Burcowcr shall give Lcndur immcJiate nocire by muiL l.endcr may make pr«�f of loss if nat , � �,•; ��
<br /> ' � , x � �.� ti- made promptly by Borrowec. Eacfi insurunce compt►ny concrrned i.hrreby authorized and direrted to make payment far `'�';�a''•'''•
<br /> .�.-..
<br /> f ' •• � .. • such loss dircctly to Lender,inste•rd oF ta Botrower and to Lendcr jointly. AU or any part�f the in�urunce procceds may lx: � ;� ;.;'.:. ,�
<br />,_ � applied by I.endar,at its option,either(a)w the reduction of thr�nJebtrdneti�under the Note and this Security Instrument, ._�.,�A i���:�
<br /> -• first to�u►y delinc�uent amount, applied in the ordcr in ParagraQh �, and then to pnp;�yment of principsl,or lb)to the •• �
<br />� - �- -. restoration or reputr of thc damugcJ prupcny. Any application at thc pr�xcrd.to thr princ�pal shall not exccnd or postponc '"•:•,¢�'��'°�1%
<br /> . �� ` the due date of the monthly paymcnh wh�ch rre refrnvd to in Paragraph?,or rhangr thc amount of such payment�. Any '�:��`r:T��:'
<br /> ' excess insurunce proceeds over Un amount nyuimd tu pxy ull autstanding indehtednes. under the Note and this Securiry
<br /> � � t �� ln�trument shull bc paid to thr entiry Icgally cntitled thentu.
<br /> ln the event of foreclosurc of thi�Secudty ln�uumcnt or other tr.�ntifer af titl� to the Pr:�perty that rxtinguishes the � "
<br /> ��� � indebtedness,ult risht,tiUr unJ interr.t of Bc�RO�ver in and to insuranre}wliric�in ii�rce+haU pa„to the punhuser. •
<br />� � "��=• � S. Occupancy. Preservutiun. Mulntenance and Protection �f thc Propert��; Borrower's I.oan Application; � _
<br /> _�• ;,'•�.�_ �„�, L.easeholds. Borrower shull a:cupy,establi+h, and u>:� the Pr��{xrty as Borrciwers prinrip:.i re�idence within sixty duy� '
<br /> ,. � afcer the executian of this Security Inxtrumcnt und�haU continue to occupy the Propc:ny a,Borrower's principal msidence •
<br /> -` • for at leust ona year ufte�the dute ot arupancy.unl�x.the Secre�tury Jeterminr.thi.myuircmcnt will cause undue hardship yy.:.j•-
<br /> - ��` w�' for Borrower, or unles+extenuutin�; rircurri�tunce. exixt whirh are txyond Burcuwer's r�mtrol. Borrower shail notify � ' �•."'�_
<br /> , �.. .
<br /> ..,�,�:� . Lenden of any extenuuting circumstunces. Borrower,i�all not commit wa�te ordr,auy.Jamage or subst;mtially change
<br /> �`-"� �'-+-•� the Property or ullow the Propetty to deteriorute, mutionable weur;�nd trar excrptcd. Lender may inspect the E'roperty if the �
<br /> �.. _ .
<br /> �.� '• �,,,�,,,.: , .'. Property is vpcunt or abandoned or thc loan is in dr:fuult. Lcnder may t:ilcc rca.onahlc artion to protect and prrservc such ;
<br /> �� • vacant or abandoned Pro{xxrty. Borrower�hell al�.�trc: in dcFault if Borrower, during thr loan application process,gavc � _
<br />___ '.�; ' m�tteriuUy fstlse or inuccurate infurmation or �tuterment. to l.ender (nr faileJ to provide Lender with any material � ,
<br /> �� informution)in connection with the lo:ui evidenced by th�Nute,including;but not limited ta,rcpresentations conceming
<br /> �1 Borrower�occupancy of the Property a.a prinripul rrtiidrnce. If thiti Secunty Intitrumrnt is on a lea�hold.Borrower shall �
<br /> . " :���.:' , � •
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<br /> ,,�.t,. w comply with the provi�ions of thc Icase. If BomoWer acyuircti fce titic to the Property.thc leasehold and fee titic shall not
<br /> H���r.*''k:-,, be mer ed unless Le�der nsnes to the rncrger in writing. ' ��
<br /> .•l..•:� a• B
<br /> s-?;� • 6. CBarges to Bo�rower And Protectfon ot Lender's RiRhts in the Property. Born�wrr shall pay ull governmeninl ►� =,� +�.-.;�T
<br /> 7�c?�°•4 , . . - • . '
<br /> _ ;��;,;. or municipal charges,fines and impositions that art�not included in P,►ragruph 2. Borrower shall pay these obligations on " �'
<br /> .-..[�,V, ....1..
<br /> time direcdy to the entity whirh is owcd the payment. lf failum to pay would ad�ersely affect Lender s interest in the .�,�,.1+,4_,•
<br /> � Pruperty,upon I.�:nder?s request Bortower aiall promptly fumish to Lendcr receipts evidencing these payments. r•,..
<br /> _� If Borrower fails to make thesc payment� or the payments rcyuired by P�uagraph 2,or fails to perform any other '� :
<br /> covenants and asneements contained in this Saurity Instrwnent,or them is a Ie�al proceeding that may significantly�ffect � +;}"'
<br /> 1�«r1�r1�r�oht�in thw Pr�x�ertv /cuch a�a flr[xeedms.+111 bdulkiuplCY,for condemnution or to enforce laws or mgulations), ��.-..r._ _
<br />. ....___ __. __ - - ��������P.._ ... . .. • r ,
<br /> -• then Lender may do and pay whatever is nc.'ceswry tu protcct thc value of thc Property and Lender's rights in the Property, �; ,z,,. _;.
<br /> - including pxyment of taxes.hazard insurance and ather items mentioned in Paragra�h 2. �:�. . •
<br /> -�- Any amounts disbucsed by Lender under thls Pura$ruph�hall become an additional debt of Borrower and be secured �,��,:• • •-
<br /> -- by this Securiry Inswment. These uncwntx shall bear mtcrest from the date uf disbursement,at the Note rate.�nd ut the M:,�1,. .•
<br /> option of Lender.shall be immediately due arid payabk. ,�'`
<br /> 7. Condemnation. 71�e procad.4 of�r►y award�r clWim for d•rmages,direct or consequential,in connection with any �.� •�--
<br /> condemnatlan cx other taking of any part of the Property.or for conveyance in pl�ce of condemnation,are hereby a+signed �►r,��•-
<br /> and shall be paid to Lender to the extent of the full amount of thc inde b tedness th�t remains unpaid under the Note and th�� °'` F:•:
<br /> Security Inspument. Ixnder shall apply such p�aceeds to dk rr.duction of the indebtedness uader the Note and this Security �-��`
<br /> Inswmrnt, first to any delinquent amounts applied in the order providcd in Nv-agraph 3, �nd then to prep.•►yment uf �''"-
<br /> .,.-
<br /> principtl. My�pplication of ihe proceeds tn tMe principal �hall not extend a postpone the due date of the monthly -
<br /> '�c:
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