|
. ��
<br /> _ t: .. . . _ ' _ . ;.:. _ _-=_
<br /> � ,.._.----- - � - _ - `- —� - .. .._
<br /> . _
<br /> _ _. . _ . .__ ---- ----- --- � __- -..__.�_._�,_._ _. _
<br /> , , - _--�._ — .— _ — — - �' .
<br /> ..... _. ..:. . _ , �_ < _ ... - -- - _ _ . �-_
<br /> . .. r :.:
<br /> . . . . _ �r
<br /> . � � . . : . '4 -. .. ..:f; _ .
<br />. : .. � . s � . �( . . � � . . ` ;. . - � ',... ° , ` ._
<br /> ,� ' , '` L���l��T�`C�I���L�!C�. BOfrOM�'i i�YII�y M�IEfl��I�IC��I1������
<br /> ti�de1f[eridenoed by�Pi�ole�ed!re��e�4�t the ida1�: . , �
<br /> � 1y�t!r�eds�Yi�eb L�ra�oe�nd Otrer Cl��a�es. Ba�o�rer�I in�lude in ach maaldy pa�a�t. �. . .
<br /> �o�elhet ivith�e priacipd sn�LMaert�c set fon�in q�e Nde�nt ar►y We ch�r�es,a i�11�1 oE�rry(s)tua add .
<br /> ` epecLl ma�naKs kvieda m ba kviod s�irot d�e Ropaty,(b)les�elrold payments or g�owd�ts m d�e F�opaty.apd . .
<br /> (�)P�'emi�uns fur imur�oe ralui�ed bY P�ragtr�ph 4• . � � .
<br /> •Each nwMld �nlla�qt for iie�m(a).@)aad tc)s�II�oywl ooe-twdPo�of tbe annu�l anwants,a�ii�somMY
<br /> ' , e�.d bp�.��1us �e ainount at�fficieat to�tain aa�ditiooal b�laoce of i�at mt�e dt�i aoa-sis�h af�he °
<br /> e��od�fs. 'iUe�a1t apmui amount fa esch�m sl�be-accarnelatod bY I.eader�rid�ia s petiod eodin�aee-. �
<br /> � mootl:befae�n�ieem�vould beoome deliaqaent. i.ender shall hoid tLc amounu cdla.ted'm t�ust to pay ita�(a).(b)and
<br /> (c)6dae t6ry becaa�e detin4�-
<br /> - If at any mue the�tal af tbe p.,rmeats heb b,►r.enaa fa;t�ca),ro)ma cc).��tLe fi�u�moofwy
<br /> pa�rmeots far such ilems payabie t�Leader�nor to the due daus of stich ioemc.excads by mone d�n ax-�tb the
<br /> apa�aeed aiana�u�t o�WYma�iec�uiced w pry such Itenn wlta�due,��p+�3�'�oa the Nate ue cuma►t.thm L.eoder _
<br /> sis�U eid�erreEund 8�e ezoess oYec aie-si�[W of dMe�ted paYments ar ciedrt the exass ova ane-sixd►of t6e e�arated
<br /> paY����P�Y�6Y Bacmwer.at the aptiai of Bortower. Jf d�e wtal of the payments m�de bY BarmMa
<br /> fo[�m(s),(b),ar(c)is�afficieat td pty the itan whe�t dae,t6en Bamwer sh�ll pay w I.eader any amamt neoeasa�y to
<br /> m�lce up the deficia�cy an or befoi�e tht due tbe i6em 6eFomes dne.
<br /> .As ased in this Saa�ity sn�mm�an."Se��ta+Y"m�ns the Sax�eetary af Housing and iJrban Developmeat or his or her
<br /> . desigax. In my yeu�ahicb the Leeider must ptY a matgage insivanoe preaiiwn to the Sec�wrY•d�ch m�h1Y paYma�1 •
<br /> . ' sh�lI atw inclwde e[ther (i)an installment of ihe aanw�l mortgaga insurance pemlum to be paid bp'.T�mder w tbe ,
<br /> . Sec�eta�y,or(n)a moothly c6'�rge insuad of a matgage iasuranoe•p�emiwn if this Socu�ity Instwnent�beld by t6e.
<br /> Secneary. Fach monthly installanent o£the nw�tgage iasacance premi+un shaII ba in�s�uune�'acimt t�a�ecumulate dx �.
<br /> .full amual moRgaEe in�e p�mi�with Ltt�der ane manth pia w tbt datt the fatE arinuial�e nis�u�ce
<br /> p�amitim is due to We Sa�taty;�a if this Saun'ty�Suament is held Dy the Se�x+etaty.e�cb taa�atbiy��11 be in aa
<br />. � ' amount eqnal w one-tweitlth af ooai�alf petrxat of the outstanding proncipaL balax.�a duc oa tlx.Not� ?;�;,;.- .,.: ,
<br /> tf Barnwer uodas tv Lender 8�e fiill psyment of all sumc socured by,this�Sec�ity L�►��'i�aaaa�a'S�C
<br /> • slu�U be credited with tbe balanae zemaining for all mstallments fa items(a).(b)and(��:a�3 a=►Y�aort�e� � , �
<br /> � pnemiwn in�taifu�eat thaE l.ender hu rwt becane obligarod to gay to the Secc+etary.and Leo�;s�11 From�:`.is��""�
<br /> . eaoas4 fwds W Bormwer. Immodiatety pria w a foneclusunt sale of the Properiy oc its acqai'sition by L.e�r,�oit�er?s
<br /> � �cxount sb�ll be c�oclited with any balance re�naining for all instalImeats for it�'(a),(b)and(e)- ;..;: . ,� ' .
<br /> , 3.'Applicados dYt�yn�ts. All paymrnis under Paragraphs 1 aad 2 sT�aID�c applied by Lender as'��ws:'
<br /> � �'�to the mottgage uuurance p�emium to be paid by Leader to the Secr�'�y uv�o the monthly cifarge by the
<br /> Secataryr instead of tlte mo�d�ly moctgage msurance p�eflu.um: ..
<br /> �p,w any t�xes.special assessmcats.leasehotd payments or groand rents:a��t.��ood aa¢ather harard
<br /> �ce pcea}iums,as tetluit�ed: . . , � .
<br /> �Q,to interest due under d�e Note; " . � ,
<br /> �],�p�,w anwctizatian of tha principal of ttu Nate; ; , ; -.
<br /> $Q}j,w late charges dise under the Naa '
<br /> 4.Firs.b'lood sAd Other Aa7ard IdsoradCa BoRrower shall insure sU improvemerts�z she Pnoperty,whether aor��.
<br /> in�xistence or subseq�entty e.�eece�agamst aziy hazards.casualaes.and conangeacies,inclrL3ing fire.for which Ixor?er _
<br /> ny�yos�anc�. 'Ihis�nsvrance s�a71 be mai�tamed in the amaunts and for the penads t}sa�k.ender rcguires. Borrawer
<br /> s6�U also insu�e a11 improvements on the Pmpeity.whether now in eaistence ot subseqaently e�cced.against loss by floods
<br /> to the eMent requind by the Secretary. All insurance shall 6e cazried with companiesapproved by Lendea. `17u insurance
<br /> • policies and any reuewals shall be held by Lender and shall include loss payable clauses in favor o€,and in a fortn _
<br /> acaptable to.I.ender. ' _,
<br /> In the event of toss.Borrower shall give I.ender immediate notite by mail. Lender may make pinof of toss if not
<br /> made promFtiy by Borrower. Each insurance company concemed is hereby authorized and directed to maice payment for _
<br />' such toss.duixtly to Lender.instead of ta Borrower and to Lender jointly. All or any part of tlx iesuraace proceeds may be -
<br /> spplied by Lender,at its option.either(a)to the reduction of the inde6tedness under the Note and tbis Secunry Lutrument,
<br /> fizst to any delinquent amamu applied in the order in Paragraph 3.and th�►ta prepayment of principal.or(b)to the
<br /> testoration or ropair of the darnaged property. Any application of¢he proceeds ao the princ�pal shall not extend or postpone
<br /> ` the due data of the monthly payme�s aluch are referred to ia�ae:��.�,^�aph 2.or cfiange the amount of s�ch payments.�A�
<br /> � excess insurance proceeds over an a��:�.^�i required to pay att�,��andmg mdebtedness under the Note and this Sec�e,.'�= .
<br /> lnsaument shall be paid to the entity tega]ly enatted thereto. ''
<br /> In the event of foreclosure of this Security dues�ument or other transfer of titte to the P'coperty that e�:nguishes the
<br /> indebtedness,all right�dUe and interest of Bomnk�a in�nd to insurance policies in force shaU pass to the p��:aser.
<br /> S. ,Occupaoc', Pn.gervatiort, Maintenance and Protection ot the Property; Barrower's l.v�n Appliqtioa;
<br /> L,eatelalds. Barower shall occupy,establish.and use the Property as Borrower's pnncipaf residence within s�xty days
<br /> after the execution of this Seourity Inswment and shall eontinue to occupy the Piroperty as Boaower's prineipal residence
<br /> for at kast one year atter the date of occupancy.unless the Secretary determines this requ�rement will cause undue hazdship
<br /> for Bonower,or tu�less extenuating circumstanees eaist which are beyond Borrower's control. Borrower shatl notify
<br /> Lende�s of any extenuating circumstances. Borrower shall not commit waste or destroy.damage or substantially change ,
<br /> the P�operty or 311ow the Property to deteriorate.reaso�able wear and tear excepted. Lender may�nspect the Propetty if the
<br /> Ptoperty is vacant or abandoned er�ir loan is in default. txnder may take reasonable aca�cr:e�protect and preserve s�al; :
<br /> YaC�III OF Ab8fKI0I1CO Pt�Ry. &a�m'+ver shall also be in default if.Borrower.dwing the��,�rr application process,g�+e '
<br /> materialf}r false or inaccurate ir.£a+r�ation ot statements to Lender (or •failed to pro:a4f; firndsr wlth any ^��"i°�
<br /> informanon)in connoction with ttis�an evldenced bxthe Note.including,but not lim'sted r��c�presenta�iaa�s conc�txrG� �
<br /> Barawer�s occupancy qf tt�e ptnpotsy as apnncipal resldence. if this Securlty instrument is cxi a leaseho1j�.l��sow'er s.':� .
<br /> campiy with the provisio�s of the(e�rse. It B�rower acquires fee 6tle to the Prope�ty.the te�seyold a.-s�''�r"st�e sltx�'I�ot
<br /> be n�er�ed unkss l,ender ag�oes oa civ.ia�erger in wriNng. � � •` •�
<br /> f►. to Ban ow�er a�rft PtptecNoe ot I.endee'a Ri�nts ia tbe propvty. Boeo��s shall pay ail govemr..�eat�l
<br /> ot mw�iclpd c ,fines and inipasifions that aie na include�'sn Paragraph 2. Borrowar shal)pay these obLgatlons dn
<br /> time dtt�ectly to the emity wbich�S owed the paymen� If failuce to pay wuuld advetsely affect Lender�s intercst in the
<br /> Property upon Lenderb request Borrower sh�ll promptly fumish to l.ender tecctpts evidencing these payments.
<br /> U Botmwer fails to malce these payments or the payments reqnired by i'ara�aph 2,or faiis to perfiim�any other
<br /> covea�nts ad ag�+oente�nts contained tn this SecutitY Ins�n�or there ls a tegal pmaeding th�t rtwy sign�ficantly affect
<br /> l.piderl�ri:hts in the Property(such�s a pracecding in bmkruptc�'.for condemnation or to en fora taws or naulada�s).
<br /> tl�en I.ender may do�pay wl�suver is necessuy to protect the value of the PMoperty and Lendery rigMs in the Property.
<br /> lnclnding psymeM of�axes.hazard insurance and other items mentioned in Paragr�aph 2 �
<br /> , My amod�ta di�usad by Leader uader this P�n,paph sLall becort�e an ad�iGott�l debE of Borrower and be sectued
<br /> , by tti�Se�urity Instrun�t Tbese aroounts ahilt bar fi terest from the dste of disbursement.�t the Note rue..�ed at the � �
<br /> optiaa of l,eader,�11 bG maned�tely due and pyabk. • '
<br /> 7. Ce�ita�Mia. 7i�e p�viceed�of�ny�►ward or claim for danages.ditect or cansequeeti�t.in ramecdon witb any
<br /> � . oaademn�tim or of6er dilcin�of�ny ptt of the Pmperiy.ar far canvy �n plsoe of eondamuioa.a�e hes�eby�ts��
<br /> �od�11 be p�id to Lend�er to the a�tent of d�e tWl amount of tLe iedeCYt�ci�ess thu teroains�mp�id under tLe Nde an�thi�s
<br /> srdrnxy 1�umeat,Lmdrs.h.0�ppt�suc�proce�a t1�e rcauction of the;aleb�edness wWer meN«a ma thi�security
<br /> - .._ --�---Tei6tiima�.firstio�r'_ i�t ��pplied in tls��ader pwidotf-��iu�iyapir 3.a�rir t6dt t��ep�yr,�eat o�
<br /> . wi�c+p�f. My��ppiiat�w� of tLe woraetls to tbe pr�hc�1 swll not eatene or postpone the aue a.te of the moMlay
<br /> • . . . • fl+�?�1.�0�1 •
<br /> � .'.� . .
<br />
|