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<br /> , !. . � e�Art�ei�l,IilernR Yi I.ale Ci�r� Ba=ower ahW pay wheo due tUe princip�l of,aod in�a�eit co, �
<br /> d�e debt�e��by►d�e No�e�rd We ch�t�'due�abe Nata �' : ' .
<br /> ����!My���'��Lwea�e ad OtMer�r�, �wer a6�11 i�lude�n ea�i�'modldy paymait... .
<br /> to�eti�er wi�b t�pnacipd aad iwknat as setfath in tUe Nae aedaay laoe cfutges.a installment of my(�)tuet and
<br /> � � epesi�l assasmaits l�vied as w 6e kvied agiinst tAe Pt�tt'y.(b)ka�ehold Prymeots ar gttiwnd ients ao d�YtcpeRy,�nd -
<br /> , (c)Pi'emiums for iacu�aooe�equind bY PataS�a{�4• �
<br /> Each monthty insaltnxot for items(�).N�aod(c)af�a11 eqw�aie-tvrelfth of t6r anaual�unamts.as te�ontbly .
<br /> es�oed by Lender.pias an amamit sui�cient w m�ain�la addi�onst 6tlance of not more than aoasi�cth of the
<br /> `�unamts. 'R�e faIi amoal amounE for e�iteat stisU be�ccumutated by Let�der-�vitE�in a p�d afaia�oree
<br /> month 6efae an itan�wouW bxome delioquent Lender shiU Iiold d�e`�maunts collectecl in on�st W p�y item+(a).(b)am
<br /> (c}befae d�ey be�ne delinquent. • �� .
<br /> � If at u►y ti�e We total of tbe pa3rments held by Lender fa items ta),(b)and Ec),wgether with the,fudue moothty
<br /> � p�ymaus fot aioch ttems pay�ble w I.ender prio�w the due dates of sucl�items,euads by mote tlu�n uao-sixth tbe
<br /> cstuauc�sunount of payments�eyuited m Pry such uems vehen due.and�f payments an We Naoe u�e cuneat,tha�l�er�der
<br /> s6all eitUer retimd tLe�xass over or�e-sinth of ttie astimated pay�c or c�sdn the eacess ova oi�e-si�ct6 of tLe estim�ted
<br /> ' p�yir�nts to snb�e4��P4Y��bY Bon�nwer.�t the optioo of Bormwer. If the taal of tha p�ymeats m�de M►Bor�owa
<br /> fa itan(a),(b).or fel is n�c to pay the item when du�.thrn�wer shall pay to Lender�dy amaurt neoessuy w
<br /> maice up the deFicieacy an ar 6efae the date the ctem beoortks due. �
<br /> As nsed'm this Secuni}r b�trument,°Secretary"means tLt Satttary of Housing and Urban Developrt�ent or his ar ber <
<br /> • desig�. In any year in aluch tix Lender must pay a mortgage insuranne p�emium to[he Sec�ewry,ach mnnlhlY MY�t
<br /> sf�all also include eitt�er: (i)an a�.ctattment of the snnasl mortgage ��ranx premi�un to be paid by L.eader to die
<br /> Soccewry.a(u7 a manthly charga ir�sctead of a awrtgage insur�nce pramium if this Security Iasuument is held by We `
<br /> Seer�etsry. F�ch monthly insdllaxut of the martgage incnrarce prtmium sball he in an amount sufficie�t to accumnlat�the
<br /> full annual matg�ge insurance pnemiutn with Lender one montb prior to the date the fuU annuaY n�atgage 'ms�uaooce
<br /> p�emium is due ta the Sa�tazy;or if this Secur;ty Instnement is held by the Sa�etuy,eacb ma�thty.charge shall Ix ia an
<br /> auooimt oqoat to oa-twelfth oFaae-half per�ent ofthe�g principal baiaewe due on the Naoe.
<br /> 1f Bamwer tendets w Lender the full payment of ail sums secatrod 6y tfis Sa�uity Instrumen�Bamwa�s accwat
<br /> sbaU 6e credited witb the 6atance r�emaining fa all;*+st t9� .�„�•�r�for items(a).(b)and(c)aadaay matgage insar�n�x
<br /> pnmium instalLnent that l.ender has nat baaax obligatod to pay to the Sa:netary.and Lender shall pmmptly iefw�d smY
<br /> euas funds to Bocmwer. Immediately prior to a foroclasu�e sale of the Ptopecty a its aaluisition bq l.en�ler,Boisower�
<br /> accaunt sJ�11 ye c�edited witU any balaace n�naining for all instaUraents for items(a).(b�and(c).
<br /> � 3 A�tion or gymq�ts. All payments under Paragraphs 1 and 2 shaU be applied by Lender as foriows: .
<br /> �'l,to the mortgage u�surancc prem[um to be paid by Lender to the Secnetary or to the monthly charge by the
<br /> � � ' Sa�retary insuad of the montt�ty mortgage insura��piem�pm;
<br /> �,to any ta�ces,special assessments,ieasehold payments or gronnd rents,aad fire.ttoad and other hazacd.
<br /> iosivance pceimiums,as ncNi�+ed.
<br /> �,to intaiest dae ander the Note; , .
<br /> ��,w amortization of the principal of the Note: � � .
<br /> �j,to iate charges due under the Note. '
<br /> 4. Fir�Flood aod OflKr HazArd Iesurance. Borro�eQ stiall insure all improve�on the Prope�ty.whettkr aow
<br /> in existence or su6srquen8y ue�ted.against arry hazards,ca3vaities.and cz�ungencic�:-"?actuding fine.for wluch Lender
<br /> � requires insur.uxe. 'Ihis msuran�e shall be mainrd'med in the aa�ounu anch fuz zhe periads tbat Lender requi�+es. Bortower
<br /> : shall also insun a!!improvemecau an the Property,whether aaw�ex9sten��r�s�bsequea�get+ertetl,against loss by�toods
<br /> to tiae ex�ent roqui�d lsy the Se�¢as�r. All insurance shall be cacsied with compames a�r�ved by Lender. 71�e incurance
<br /> poticies'and any renewals shat➢E�e held by Lender and shalf indude toss paya6le ci3�.s in favor of, and 'm a form
<br /> acceptable to,Lender. �
<br /> ln the evem of loss,BoROwer shall give Lender immedlat$notice by mail. Lender may make proof of toss if not
<br /> made p�omptly by Borrawer. Each insurance company concemed is hereby authorized and directed to make paymedt for
<br /> such loss dinectly to Lender,iustead of to Borrower and to Lender joindy. a�or any�n or me;�u�nce�caa�may tx
<br /> applied by Lender,at its option.either(a)to We reduction of the indebtedness under the Note and this Secur�ty Instnunent,
<br /> fiist to az�y detinquent amounts applied in the order in Paragzaph 3,and then to prepayment of ptincipal.or(b)w the
<br />_ restoration or repa�r of the damaged prope.rty. My applicacion of the proceeds to the ptinc�pal shall not extend or postpax
<br /> the due date of the cnanthly payments whuh are referred to in Paragraph 2,os change the amount of se�g+ayments.�My
<br /> eacess insurance pmoa�eGs over an amount reyuimd to pay all autstandutg����teQness under the NcstP a�d this Savrity
<br /> Instrument shail be�pa:�l to�the entity legally enaiTa�thcreto. �,;
<br /> In the event of fareclosure of this Security Instrument or other transfer of tiQe ta a8�:Property that eatinguishes t'ae
<br /> indebtedness,all right,title and a�tesest of Bosrow�er in and to insurance policses in force s�a;;pass ro the purct�aser. •
<br /> 5. Occupancy, Preservatian, Mainteaaaee and Protectlon at t�be Property; Borrower's Lwo Appiicataa;
<br /> l.easdiold9. Borrower shall occupy..estab1is33.a.�d use the Propetty as�cwrawer�s principal residencC within s�aty days
<br /> afur the eaecution of this Secarity Instrumer.t and shall cuntinue to ocec,ps�a'tw�roperry as Boaower s bvancipal res�deace
<br /> for at least one year after the date of occupancy.uaiess the Secretary det�:�.°s this requ�rement will caayc undue hardshi ,
<br /> for Bomnwer.or unless extenuating circumstanres exist w�ian are beyand Borrowee's�snuol. Borrbwer shall notify
<br /> Lend�s of any extenuating clrcur.�sta�ces. Bortower shall ms eommit waste or desumy.,sl�mage or substantially change
<br /> tt�c Pb+.�erty or allow the Froperty to deteriorate.reasonable w��and tear excepted. l.en1�may inspect the Ptopetty if the
<br /> Pmptrty is vacant or abandoned or the loan is in default. Lend:r may take�asonable action to protect and presetve such .
<br /> vacant or abandone�t Property. Borrower shall also be in default if Borsmu�s,dudng tfie loan appl�cation proces.c.gave
<br /> materiall�r f�1se ax inacCUrate infortnation or statcments to Lender (ar �'�iled to provide l.ender with any matenal •
<br /> • informaqon)in wrmectian with the loan evidenced by the Nrs:'.including:but not li�r�to,npresentations conexmin� , ,
<br /> Borractier's occupancy of the Fraperty as a�nclpal residene,� II�this Secunty Instrume��.as+on a leasehold.Botrower sball
<br /> com�t'y with the prov�sions of the tease. 1 Borrow�er acquires f�e title to the Property,f�r,}�asehold and fee tide shall not .
<br /> be merged unkss Lender agrees to the mergcr in writing. � �
<br /> , (� Ci�t�to$orrower aod ProtMloe d Leeder'a Rishv 1e tbe hmptrty. Borrower shalt�ay ai1 govemmemal
<br /> . ot mw�iciptl c�axg�fines and impositions that are not inclttded ln Parag�iEs Z: Borrower shall pay�obllg��an
<br /> time�et1y to @fe entity whlch is owed the paymen4 If failure to pay.tvonld adversely aKtct l.en�er's interest in the
<br /> Ptppe�ty,upnn Lenr�er's request Borrower shall protapdy fumish ta Lender mcelpts evidencing these payments.
<br /> I4 Borrower fails to malce these payments or the paymenu required by Paragraph 2,or fails to perfam any other
<br /> ooveawW�nd agamenta coatained in this Security tnswment,or theze ls a kgal proceeding that may si�Uy affect ' -
<br /> Lrender�s riahts ie the Yroperty (auch as a proceeding in baNccuptcy.fot ca�demnuion or to eefaoe laws or regul�tians).
<br /> ' then I.ender'may do attd pay whutvtr is aecessary to protect the velue of the�and Lender's rigMs in the Propetty,
<br /> �1�8 P�Y+�nt of taxes,hazard iasurance aad other items mentioned ia Paragaph
<br /> A�r anwuets di�sed bY Lendet tmder this Paragnph s6�ll become ao additlon�l debt of Barawer an�!be secured
<br /> . � by tlri�Sec�uity lnsa�e�ent Tluse�mouMS sball bear intenest from the date ot dlab�raement,at the Note-rate.and at the
<br /> optiae qrf I.eaid�er.ahall be inntadWety due�d paysbk. �
<br /> , � ?. G�iea�flo�. 7tie gmoeeds of any sward or c1�im for damiges,direct or canequential,in camatia►with any •
<br /> wodemnWon or ad�er t�fcini d�nY'pi�t of the Pt�p�n!►•ar for canveyancae ia plaa of condertmatkm.are Lereby assi�d
<br /> aod�11 be p�id a Leader a ibe eala»of the full aa�ount ot'the indebtoMess that rcnu�ies uep�id under the Nae andtliis
<br /> _5earitY Lrltu�naw._Ld�dettWdl sppiy auch poceods to tue teducfion of the itdeMednes+wWer tLe No1e aud dds Secutity _ •.
<br /> --- --— Iniiumdof.fuat iu�oj►deI�qumt anw�i6�ppti6d ie�t1�o�ter pcovide�nt:P�r�ph 3.�theQ w�p�epayment-of ,
<br /> princip�l. My�pplic�tion o�tbe proceeds to t6e pruiclpal a1W1 na extaxl ar postpoee We due dale d ti�e monthty
<br /> (l�2�1f�l�s«J . .
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