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<br /> , � . � , . ,, �� , � � .� .� ��'it)04Z8 . `; `- �
<br /> � t..b ar tri�c�l.I■te�+ae asa I.atc C� eoRnver shal!p�y wi�rca aoe tt,e principal oE aoa��eu on,.
<br /> the de6t e��bY the Nae and I�ite chu$es due uoder tbe Note. . .
<br /> ' b MaMM7 P�1�d��►Iawrasce aiW Uf�er C6ar�e�. Borrower�hall iaclude in each monthtY�Y��
<br /> ` WEes}fe�with the principt!and interest a�set forth in tlie Note atd anX late charges.�ias�L�r,of any(a)'tauta�d
<br /> speaal usessmeats kvied ar W be levied against the Pr�ope�ty.lb)Ieasehold pay�neats or graund rents aa ti�e 1'roQeirty.and
<br /> , � (c)P�emiwrts for insuru�ce�+equiied by Paragraph 4. � .
<br /> � Each inaot6ly instatlaxm foC ite�c(a),(b�and(c)shall eq�al ane-twelfth of the�nval a�o�u�ts.as rtasonably.
<br /> ,`esttinate�hy�l.eader. P�as.aa amount su�cient to maintain� adfii6mtal bx�na.of not aio�C than a�e-sixth of the � -
<br /> e�inated amounts. 'ih fitll�tutual amoant for each item s6a118e accumulated by Leader within a peciod ending aoe
<br /> moitd�6efot�e�n itea►would bx4a�e deW�quent Ltndet sLaU hold tfir areounts caltected in trust to pay items(a)t tb?� . �
<br /> (c)befa�e they 6ecame deW�quent.
<br /> If at my tnt�e tAe tdal of thc pi�us held 6y Lender for items(a),(b)and(c),w8ether with the future nwnthly
<br /> payaxms fa such itans payabk ta r prior to the due dates of svch itans,e�+coedc by moce.than ane�si�tb the
<br /> e�oed amouat af paymenb�eqaard topay sucfi itea�s when due.and if paymenis on tliee Nooe are currrnt,tt�en l.ender
<br /> . . sh�U eitba�efuad tAe exoess over ane-s�xth af the estimated payments or c�dit d�e exoess ov�r oa�-siath of the estimated
<br /> WY!�to subsequent payments by 8orrowu.at the uptiun of Sormwer. If the total of ihe payments tt�ade by Barower
<br /> - for item(a).(b),ot(c}'ss insuH'ic�ertt W pay the itern wlxn,due.then Bor�awer shal!pay to[.ender any amount necessary to
<br /> make up tbe deficiency oe tx befo�the date the ium becomes dtte. } .
<br /> ' � As used in this Security Inswrrxn�."Secc+etary"means th�Seecetary+of Housing and Ur�n Development or his or her
<br />- — designee. in any yeu in wltich the I:onder must pay a moitgage imvTancx premium to the Secretary,eacb�uontWy payment :.
<br /> ' shall aiso inctude eitder (i)an installment of the annual mcxtgage insarance premium to be paid by L,ender to the =:: _
<br /> Secrctary,or Ci�a monthly charge instrad of a neo�tgage insmance premiuii�if this Serurity Instnut�eut�s he2d by die. ---_
<br /> Sa�cetary. Fach manthly instatlment of tl�e mortgage iasnrdnce pnemium shal}be in an amount sufRcient oo ac�wmulate the -
<br /> — v_.— fuU amnual mcxtgage insuranc�e ptemium w+ih Lendet one month prior to the date{he fufl annual mortgage ins�iance �`�=
<br /> — , piemium is due to the Seccrtary;or�f this��y lmtrument is beJd by tt�e Secnetary.each maithiy charge shati be m att . �__—
<br />" amoudt equal w one•hvelfih of arx-haif pencent o�tiae outstandin8 P��P�balance due on the Note. �':�_==
<br /> If Bormwer tc�decs w Le�tder the full�payment of all sums secured by this Security[nsmimen�Bomawer's a�ccount �;--�:_
<br /> �-_---=_-
<br /> - ' shali be crcditod with the baiance re@aining fot all installments for items(a).tb)and(c)and any mortgage insurancc � ;-:-----
<br /> piemium installment tl�t I.ender has noE become obligated to pay to the Secretary.and Lender shall pmmpcly c�fund any ' �=:;
<br /> . excess ti�ads w Bozrowtr. lmmediately prior to a fqteclasure,safe of the Pmpecty orib acquisition by l.ender.Sosrower�s _ :;"�{.�
<br /> --- .�' account shall be credit�with ar►y balance remaining farall instaltments;Far it+ems(a).(b)and(c}. ,�-��'•-
<br /> " f''_� 3.�p�liatiort o�P�ymeots. All payme�tts under Paragraphs i and Z shall be applied by Lender as follows: .. . ,_',, �
<br /> � to the mo�tgage insurance premium to be paid by Lcnder to the Secretary or to the montlily charge by t1�e_ ..t 1:..�
<br /> � �-�; `, •,Secntary in�tead of the moathly martgage insurance premium; ' � �-
<br /> � �w�' • �Q i�,t o a n y t a a e s,s p e c i a l a c s e s s men t s.leasehold p a y menis or g r ound renu,and f re,flood and at£a��rard .; ;':,::��—
<br /> ` insurance miums.as uued; •�a-a
<br /> . �Q t p ntetest due u der the Nae, . �;-`
<br /> '��;::.==
<br /> FOIIRfH.to amortizaaoa of the principal of the Note: ' , , � "`"'�",`
<br /> � r� �".���� �,w late chazges due under the Note. - -,�=
<br /> %7?�GXS*.—�..`.'r.
<br /> ' 4. FirG 1�7aod wd Uther Nazard insannce Horrower si�atl insure alt imgroveme�tts on the Prc►perty,cs�i'esher now �-�i_
<br /> `��,_�.`��.'-. J�,'�" s,
<br /> i n e a i s t e n c e o r s ubseq u rn t ly e r e c t e d.ag a i n s t any h a z a rds.casnalties,and conti c��rcies,includin g fire,for a�rich Lender ��;„�
<br /> - ��`;"�•`'��',: uir�es insurance. '(his insurance shall be maimacs�i�n the amounts and for the�iods that l.ender requires. Borrower �"�:t;�{
<br /> `� r.:�r.'��' � �--
<br /> ' �;. � shal!also insure all improvemenu on the Property,v�}�.'�e r n o w i n e x i s t e n c e o r s ubseq u e n Qy e re c t e d,agai n s t l o s s by fl o a d s •�,
<br /> �"''� �� '~��'� w the eatent nquimd by the Sccretary. All insurance shall be carried with companies approved by Lender. '!]�e insurance
<br /> , �. .,;,.
<br /> � ..,`r-'.��'� ` �'�,�iz;:• policies and any renewals shall be held by i..ender and shall indude loss payable ctauses in favor of. and in a•form • • -=
<br /> ��r:•� . : . . ..
<br /> ,v ;:; .� ._ •�, acceptabte to.l.ender.
<br /> `•:�_:�;:*!�; Tn the event of loss.Borrower shal�give l.ender immediate notice by mail. Lender may make proof of loss if not : _ �F�
<br /> - ' `��= made pmmptly by Borrower. Each insurance compa.�y concemed is hereby authorized arrd directeA to make payment for •._ ���
<br /> �"`'�r�Y�1-.�''` such loss dinectly to Lender,instead of to Borrower and to Lender jointiy. All or any part of the insurance praceeds may be ,
<br /> ��,;.y t
<br /> ��•= apptied by L.ender,at its option.either{a)to the reduction of ttse indebtedness under the Note and this Security InshumenG ._ w���
<br /> - '�``� " •�L� frrst ta aa�r del i n c�uent amounts applied in the order in.Paragnpfs 3.and then to prepaymcnt of principal,or(b)to the '
<br /> �:.
<br /> -;,:.Y:�° •.,. '_ - --
<br /> ' -..,:�,.�_� tEStorallon or repa�r of the damaged property. Any application of:T�e proceeds to the principal shall not extend or postpone
<br /> . r�'�� • '• the due date oi the monthly payments whuh are referred to in Paragraph 2,or cfiange the amount of sucfi Paymenu. Any . _ ' ';
<br /> ,����-t�'�`� � excess insnrance proceeds over an amount required to pay al!outsiandmg mdebtedness under the Note acc3 a�is Securiry ,,, =
<br /> = '' `'" InsUument shatl be paid co the eniity legally enticled thereto. �`'�'� . : ��
<br /> .s°�:;.;.�,.r:: ;:��'�.;,: .• ,. ,�.
<br /> ',v�: t � � In ihe event of for�closure of this Security Instrument or other trantifer of title to the Pm,e�ty that ex�anguishes the ;.,_.z;;_�:
<br />. ��'" � �f a i^'� '
<br /> , . �f• ,; �,' , indebtedness.all right,title and intere¢E�Boaower in and to iRSl�nce policies in force shall pa.ys,,o the pu�c(taser. •,•,.:�:=.
<br /> � '`'�r sr.'': . � S. Occupanev. �t'eservation,��intenance ana Proteetioa of the Property: Borrower's I.oan Appticatlon; � �s;-_�:=_
<br /> ; t�s`;` . � .I.ase6otds. .Hoacae:s;,�a}1 occupy.establish,and�:se the Propercy ati Borrowerti pnncipsl residence w�ia�sixry days =-.:���.
<br /> �F-; after the execu6o»af ci�;�,:Security Instrument and s�aL1 continue to occepy the Property ac Borrower's prin�}residence `
<br /> .Y_.
<br /> �ot at teas�ane year a4��he date of accupancy.cnre+�tfie Secretary determines this reqwrement will cause undue hardship ���!
<br /> , , : ,':.c�'�' � for�au�s.or unless extenuating circumstances exist which are beyond Horrawer's contml. Borrower shali nodfy �� � �� ��`_.`
<br /> `��r�;. •Lenders cs�any eatenuating ritcumstanees. Borrower shall noc csmmit waste or destroy.damage or substantialty chaitge . --
<br /> ��:''...�, the Prapeny ar allow the Property to deteriorate.reasonable wear and tear excepted. Lendcr may�nspect the Propercy if the . . •
<br /> ' Property is vacant or abandoned or the loan is in default. Lender may talce reasonable action to protect and preserve such � . _ .
<br /> =_ vacant.or abandoned Property. Baaower shall atl+�be in dePault if Borrower,during the laan applicadon g�:ocess,gave .
<br />--- . muerially false or inaccurate information or staiter,�ents to Lender (or failed to provide Lender wi� Firsy matenal • „ . ;
<br /> `-- — infarmapon)in connection with the loan evidenced by the Note,including:but not limited to,representati�s conceming � �
<br /> •$o r r o w�"s q e c u panc y of the Pro p ert y as a princi Qal cesidence. lf this Secunt y Instrument is oa�t:asehoid Bonower shali • •. �:
<br /> . com ,x�"f the Wsions of the lease. t f Bortower ac uires fee title to the Pro the tea�:?s31d and fee title shail not . ' .'''�
<br /> FIY. �,� pro ' 4 PpnY• .... ...
<br /> ' be merLcad�rnless l.snder agees to the mcr�er in writing. � , . ..
<br /> i�, �Wr�es i�iwnower and PrMtctioe ot t.ende�•s Rlghts io the P�'aperty. Barrower shall pay a;iB governmental . �
<br /> • ' �muei�l charges.fmcs a�ul impositions that are no!included in Paragraph 2. Borrower shall pay these ay"�garions on . .
<br /> �u
<br /> �. .; �d'uoaiy to the entity which is owed the payrnent If faiture to pay woutd•adversely affect Lendeas L•;:terest!n the ,
<br /> . Ra�ty,qpon I.ender's request Bonower shall prompdy fumish�o I.ender receipts evidencing these payments.
<br /> � �Bat�ower fWs to m�lca these paymbnts or thc payments required by P.�graph 2.ar f�ila to petfotm any other
<br /> � coveoints anda�en ts contAitKd i»this Secunty Instrument,or there is a legal proceeding'ihat may significantly affect
<br /> ' I.ender's rights i the Property(such as a proceeding ln b�tiluuptcy.for condertutation or to ertFaree laws or regulations). - . ,
<br /> = tlxn Lendec rosy do and pay whatever is�ecessary to protecc the value of the P,roperty and Lender's rights in the Ptopetty.. ,' .• . . _
<br /> ' ��6 P�Y�t of taxe�,h�rd insurmce and ottxr�tems mentioned in Paragrnp�2 • � . .
<br /> My ano�mts disbursed by l.ender w�der this Yare shalf become an ad�tiohal debt of Hotrower anA be securcd f�- -- - -:�---
<br /> b y�5ecurity Insau�ment Tl�ese�wunts shail beu��t fram the date ot disb�nsement,at the Note rue,and at the f
<br /> option oP L,eader.ah�ll be immadiqcely due aad payable. . . .. � �� -
<br /> 7..Cw�ie�ltio�. 7be proceeds 6f nnq awar0 or claim f�sr damages.dinect or cansequeniial.ie cannecoion with�ny � _ . .
<br /> caudpmatioo or od�er Wcina of any p�t of 1he Pr�perty.a fa comeyance m place of ca�denmation,ac!e henby assigned . f � .�
<br /> �_�-_ �--- --. .- _aal a1W1�e�W Lender 4�the�unt of tt�a futl�maune of the iadebtedness that nmains unptid under'ti�ee Note and this �.: .�: '. .
<br /> ,. �y I�tttunesf.I:teder s6aD appiy auch pioceeds to tfiE reducNcin of d1�it[dEble�[CSS andet the t�fote�this Sec�iry
<br /> f'_,--`-_. -°- -
<br /> � �6nt a�ay de1ioq�nt�ttwuats spplied in t6e oMel prnvided in Peragraph 3.and then top�r�ymeat of ' .,
<br /> wieciql• Any►appliada�of the pmec�s co the princ;pal aGau na eatena or posepa�e the ai,e due os hei nlontiily _ �-' : •
<br /> � . . . ' ' . ���Z�f�maw� , y '��''i�"'� � .
<br /> Y�
<br /> . � . • . � ' , • Tt.- i.
<br /> . � . ' . � ' . . ��3 .
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