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<br /> � �. �.�ait or rrMcyW.I�M��E.M i..k cwr�a eoemwer al�rl,p�y wt�en auie the princ;pal of.oa�erest.aa. �.
<br /> tl+e deEt ev�denced br the Noa and I�te ch�ex dae�hder the Nae. ,
<br /> ]. MMIN9 M!!�d 73�sn.I���d aMer�. Barrower sh�l!include in eacb mouth[y,P�Y�•
<br /> to�tl�wld�the p�Lrcip�l.md intercu as eet forth in the Nwe Any I:te charges.an irc�llnKt�t of�ny ta)tues and ,
<br /> spxia)ss�esurtients levied or to be kwied ii�,ainse tke Pk�peity.(b)ka�ehotd pay7nents ot g,rcwnd Rnts o�4d�e Propeny.�ed '
<br /> (c)P�emiums foRinsunnce t�equ[nd bY�B�Ph 4•
<br /> �ch monthly insttWneet ior ltcros ts),tb)and(c)sh�ll equal one-twelflh of the annual amounts,as:saconably .
<br /> es�tim�ted by Lendzr. a�amo�at s:iffteieat to maintain�a�dditional b�tance of nat moee tvan�e-sixth of th4 �.
<br /> atiirwed aRx�upts. �fWl annu�l aanunt ior e�ch itetn slu�ll be accumulated by L.ender wiihin a periai eidinE a�e ,
<br /> ' month befa�t�n ium wouW bocane delinquen� Lender shall hold the amounu coDected in wst to pay items(a).(b)and
<br /> � (c)6e(one tltey become deliequent .
<br /> If at�ny tirte tbe total of We pay� ts deld by Lendev for items(a),(b)u�d,(c).rogetLer with the fotnne monthlY .
<br /> P=Y�ts for suett items payable to i.eader prinr tu the due dates of swch iums.exc�eds by maee than Qnasixth the
<br /> esbmated amotu�t of payma�u iequined topay sach ttems whea due.aad if paymenu on the Nott aae cuaent,tLen Lender
<br /> �6�t eidur refw�d the excess wer a�sixtb of the�imated payments a credit the excess over aae-sixW of the estirrwted
<br /> WY�ts to subsequent paymef►ts by Barowa.u U�ee opcion of�rmwer. If the total oE the psyments made by Barower
<br /> for itaa(a),(b),or(c)is fnsu�t`�aK to pay the item when due.dxn Borrower shall pay to Lender any amount ne�essary to
<br /> make up tha deficiency oa or befae the date thc item becontes due.
<br /> As used in this Secnrit�r Insaumen4°��Y"means the Secretary of Haising ancf Ur6an Developnen[or his ar her
<br /> desigr�oe, ia an�r year in which the l.enckr mustpay a mortgagc ins�uance premiva�to the�etazy.each monthtY PaYment
<br /> � s1�U atso include either: (i)an instaIlment af the annual martgage insurance premium w be paid by I.ender w the
<br /> Secretuy.or Ci)a mant�Y �GarB�instead of a mortgage insuuance pamium if this Security Insaun►ent�s held by the
<br /> Socret�y. Eacb mianthly iastallma�t of thc matgage b�su�ance premiu�r►shaU he in an amount sufficieat w�^,�„�•�•�the
<br /> fuii aoaual inatgaga iamraQCe pnmium with�r one morth griar ta tbe daoe the full annoat mongage insurance —
<br /> �is due w tLe Sa�etuy;ar if tlsis Security Insaunnait is hetd 6y the Seccetary.each mont6[S►ct�ge s6alI De in an
<br /> . amamc oqtu�l to onG-twelfth of one-LaIf peczeirt of the a�ding pruECipal6alance due on the Note. ;•: _
<br /> If Baro�car ttnders to irender the�T-�yma�r of all sttms seau�d hy this Sccurity Insumi?r�?e.Bamnwerss accovir�.� ; -_: ,
<br /> — shal!be e[e�with the�rslance tC��?m�.fnr 2tt:�ts fr1c is�,.ms(a�,(b)�mnd tc)anri�`:�oi`tga2�.�.�r^,as�::::.;..:' ' -__ -
<br /> premiam m�t�atfi�3er hu noc become o�G.�s�.to QaYt�irae Secretary;and Lender`.,'. �ir.�`.L�-�3:��:.. ; .:. �n.,.�.___
<br /> — ' excess fuuds to Bc�sti*sa-e�'`T�r,�ediately prior to a t'c��,-�a:..�sale of the Ptoperty as its ucquisiuon#ap}.ertdea.lB:�azr's � ��.�
<br /> �.• �a�icotmi sllall be a�d�sci�`any balance remainiitg�i��smalh�xr�for items(a�M(b)and(e):' . � � ... `::`:: : . _ . ,, ���":-"-"
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<br /> -- , 3, Appiieo6o�o[P��ments.All paymenu un�L�•^agraphs t aad 2 shall tie�lied by Le►ider as foIImw�,':�: � _ '.;�}Ei;,;���
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<br /> _— � � '��"t�e martg�e insurance pnmium to tie�d by i.ender mthe Secmxary or to the ma�4p charge 6y�e . :t�4:,`� :
<br /> ---�:� Sec�tt�iasteadof���moathiymongageinsura��mi°m� .' . � ,.. ��f.;:;.»>-,--
<br /> :-�;..u:��= , '��,w any ta��..�ecial asses.smenu,lea..n� �1 paymenu or ground r,e r m�;'�ad fire,fEoo�aIId other fi:�r^� . �;.'�'��,�fi;f tv;.
<br /> --� inswancepremimcz.�;:��,,�tted; " :���}�i.%"'
<br /> .�:�_ �Q,to intenst d#:i°�.m;,ier tl�e Not� . :��: , j�:;.��;<.
<br /> �� .: TF�L RTH.w amorti���s of the pd�,.�c��i���� . . • . ��;� .,
<br /> . ' �,to late charges due under t��.. • • � ��=�`�.
<br /> -------� 4. 1�7�e.F7ood aad Otl�er Ha�rd Is�ur�nce. ��::a�'ec sfi.siC�e�u-�re aU impcovements on the Property,whether now �
<br />.r':��rv.*,� in existence or sulssequently erected,against any ha�r�:4 casualties.�d contingencies.including fire.for which L�.mder
<br />�,�--;,_=�=�, nquic�s insurance. 7i�is insurance sfiall be maima�ned i�the amounts and for the pe�iods that l.ender requires. Bmrower •,':�;�_ �
<br />-=".�=`_' shall also insure all improvements on the Property.whether now in existence or subsequently erected.agamst loss by floads , . _ _
<br />-"`��"�`• to the extent required hy the Secretary. Ap insurance shall be carried with companies approved by Lender. The insurance • ri
<br /> ``'�>� polieies and any renewals sha11 be held by Lender and shall include loss payable clauses in favor of.and in a fortn , ,; �=V
<br /> acceptable to.Lender. - , •• ��'
<br />"_T�;�`. In the event of toss,Borrower sria11 give Lxnder immediate notice by mail. Lender may malce proof of loss if not . : ,,�„
<br />=�:��._, made pmmptiy by Borrower. Each insurance company concemed ic hereby authoriud and directed to make payment for — ,
<br />'='��•��.; such loss directly to Lertder.ins�ead of to Bartower and to Lender joi�tty. All or any pan of the insurance proceeds may be . •�_
<br /> �'���''' � app liod by Lender.at iu option,either(a)to the reduction of the indebtedness vnder the Note anA this Secunry Instrumen� . , _
<br />--�41°'�- �: . fust to any delinquent amoun�S applied in the arder in Paragraph 3, and then ta prepayment of principal. or(b)to the � •
<br /> °�,:.;�::° nstoratian or n�pa�r of the damaged property. Any application of the proceeds to the pnncipal shal)not extend or postpone . .
<br /> :::,�:':•` the due dase of the monthly paymen�s whuh are refened to in Paragraph 2.ar cha�ge the amount of such payments. Any
<br /> ^''';':�,,. •• eacess insurance proceeds over an amount required to pay all autstandmg indebtedness under the Note and this Secudty J
<br />;�:.,�:,-,.. lnsuument shall be paid to the entity tegally entitled therzw.
<br /> �y.�:':�, In the event of fomctosure of this 5ecuriry lnstrtmz�E or other transfer af title to the Property that ex6nguishes the ' __
<br />`-�.,=�_���" indebtedness,all right.title and interest of Borrower in a-:3 ta insurance poticies in force shall pass to the purchaser. ,;':,;s;;�
<br /> --_°=:�� 5. Oaupancy. Preservatlon. Mainteaance amd Protectio� of tfie Propeny; Borrower's Lo�n Applicatlao: ��.�
<br /> _-"-"L'�`'� l,eateholds. Brnrower sha11 occupy.establish,and eise the Praper[y as Borrower's principal residence within sixty days _
<br /> _�'=`�';` afterthe execuNon of tl�s Secunry instrument and�eontinue to occupy the Property as Borrower's principal residence ;-`���:
<br /> -. - for at least one year afcer c�r date of occupancy.unles:.ti��:Seeretary deteanmes tt�.s reyuirement wiU cause undue hardship .�•
<br /> __-�`:.; , for Barrowor,or uniess extenuating circumstances �n��c which are beyand Bo-rowcr's control. Bortower shall notify •
<br /> -- x
<br /> - '= �,enders of any extenuating circumstances. Borrower sfiall not commit wa�te or destroy.damage ar substantially change
<br /> -°-::"�.; the Property or a11ow the Property tv deteriorate,reasanabie wear and tear excepted. Lender may mspect the Property if the -. .
<br /> .,�;. ., . .
<br /> °31 i�� Pcaporty is vacant or abandoned or the loan is in def�aJt. Lender may take reasanable action to protect and preserve such
<br /> --- vacant or abandoixd Property. Bortower shall atso De in default if Borrower,d�iing the loan applicatioa prcrcess.gave .
<br /> materially false or inaccu�e mfonnation or sta�tc�:+a�ts to Lender (or faitai. co provide Lender witb aag matenal .
<br /> infamahon)in connectiaa with 11�e loan evidenced Pr�rhe Note.including:b�t��.'t�im�ted to.representaflon�conceming .
<br /> Borrawer�s occupancy of tHe PropeRy as a principal residencc. If this Sccunty tnstrument is an a teasehold.Borrower shall . • �
<br /> comply with the provis�ons of the lease. If Borrower acquires fee titte to the Property.the leasehotd and Pee titie shaD not �
<br /> be merged untess Lender agzees to tht metger in writing. • -� -� --
<br /> i. C6ar�es to Bon'ower aed Pratecttoa ot Lender's Ri�hts ie fhe ProperGy. Borrower shall pay al!govemmentai
<br /> ar municipal charges,fines and lmposidons that are not inctuded in Paragrrph Z. Borrower shall pay�hese obUgations on + , ,
<br /> wne dinctly tn the enHty which is awed the paymen� If failurc to pay would adveisely affect I.ender's interest m the �
<br /> Prvperty.upon Lender's request Boirower shall promptly fumish to lxnder reccipts evidencing these paymmts.
<br /> If gamwer faits to m�lce these payments or the payments required by Paragraph 2.or fails to pecfomt any aher •
<br /> ca,a�a�s aod sg�+eeexnts cantained in this Security lnstiument,or iherc is a 1ega1 proaaling tbat may slgnificanUy affect � � • ,
<br /> l.endet'�rigMs in We Fropetty(auch as a pioceeding in banlwptcy.far condemnation or ta enfiace laws os cegWwons). � . � . .. . •
<br /> then Lender tnsy do and pay whatever is necessary to protect the value of the Pta�a.�cty and Lendet�s rights'ru tP�Properiy. f';.. -
<br /> ' �W P�Y�of taaes.hazard insurrnce aad other items mentioned in Para��Z Z. � :
<br /> Aay amo�mts disbmsed by Lender un�fer this Para�h shall becane an addifia�nal debt of BamowaS.as�d:�be secuted . i�+:� -
<br /> �. by tlus Se�.wity ImtramenL '17u.se anwuets atall beu�ntenst fiom tlx date of dis6ursemen�ait the Note rate.aad at the . ��;:;;;�! � '
<br /> , aptioo of Lender.ah�U bo imanodi�tely due aed payabk. • • '
<br /> � 7. CaNe�Nie�. 7l�e pmoeeds ot aey awa�d or ciaim for dam�gcs.dinect ar consequtfltiat,in connection with�ny ,
<br /> � . 000danmtim or a6er t�a of�ey p�ct d drc PtaQeny.or far ooeveyaoce in�o��oand'e�mnuioa.ue her�eby assigned . . ' � .
<br /> . aod tball be pdd W l.eeder to tbe axteet of the full sna�rn ot tLe iedeaeMess paid under the Note and thjs ' +�; .
<br /> — --• -- - -�eaay�:i.en�ierahatiappiysuchpra�dsiather�nctio�o�slseusd�ssut�destherloteaaaihisS�ty �'--=- -�. �
<br /> lmmmrnt.fnat w any dollnquent amouets applied in t h e a d e r provided ie P m g r a p h 3. and then top�pa of �_;�. ..
<br /> P��P+� �Y�PP�+���P�w the priac�pl slull nd exa�1 ar postpoae the due due af t1�ey�mootNy - - .
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