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<br /> = y �j.K.c or tr�,IMa�e a.a L�tr�e�e. B«rowrer sM.0 p.y Mban d�e a�e p�ncip�i o�,�wi�t m, �
<br /> d�e debt emdencad by t6e Nate.and late cLarge�due uocier tlx 1Vooe.
<br /> • Z, lyo�tVy pqae�M�d'li�se�,I�ara�te ard Ot6es Ctiar�e�. Bo�Qwer sh�ll iaclude in cach moodrlY P�Y�• , .
<br /> � wgdher wit6 tbe princip�tl�nd inlee+est as�et forth a�the Nate andeay t�e ch�rges.�n i�taQmeot of�ny(a1 t�ces�.
<br /> apecW�lEviod or w be k�►ied�piast the Piopeccy.(b)lessehoid PaYrnents a gronod nats an the Plrope�ty.�od
<br /> (c}Pnmi�as ta uu�nancs�eqtpned b]►Fa�a�apb 4•. _ .
<br /> �ds maathty saataWoa�c fa ite�s fs�(�).snd(c?�!l.�wl ono-twelfth of the amual,�mamts.as reasoo�big
<br /> estim�ped by i,eideti.Plus m amow�t suffcieat w maintain m sddttianal b�n�e of uor inae thsn aoe sixtb af d� _
<br /> awn�ed amoimts. The futl umwil arnaant far eacL ioein slvU be aa.vmulated by l�ender widun a prriod tndin8-aae
<br /> momh before ae item would become delu�quect. Lujder shall hold the amo�mts wltecced in t�ust to pay iten�s.(�).(b3�
<br /> .(c)hefae dwy bocome delinqueiH. :;; ' ':•�� . �
<br /> _ (f$any tua�c t6e total of tbe pryme�ts I��:�far iums(a),(b)md(�e). wtt�� ,�.��
<br /> ;:;"�ants fa sach uems payabk to I.endcr pric7s:s�:t�.`due da�es af soch items,ex�moti ttca�i�t-sixth:{�
<br /> , _�'::.;:::�"::���f PaY���N���Y�?�tans;a�m d�aQd if pa ts m the Note u�e cur�ent,tTKn I.endts�
<br /> `,`_;��pr ie€md the a�aess over ana�3nnh of ttre,°�paymen�s or�excess over aoe-si�ct6 vf the�'
<br /> � �ay�ents to subseq�cat payments by Bamwe�ac tbeop�tion of Bormwcr. If tt�.totalof the payments a�by;�Ba�iow�es,
<br /> ,`.. .for ium(a),(b),or(c)�s ins�t topay tl�e item w�rea dtx.d�a�Bomnwer s1i�11'Q�,y w L.endes aay amauot�nooessary to .
<br /> maks ap tbe deficieecy on ar bafae tlwe date t6e it:em kcoct�s dae.
<br /> As used jn this Sec�ity In�nt."SecretarY"means the Secretary of Housin�and Utbare IkvelopmEnt ar�his or her
<br /> desigaee. In any yeu in which the Lender muse pay a mortgage insuraix�e p�emium to�he Secrenry.ach monthly payment .
<br /> shal�also include eithec: (i) an insqlimcett of tbe�naual mortgage inwrance pnemium w.be pod 6y l.ender to the
<br /> Socreary.a(ii)a rtwnthly ci�e insoe�d of a matgage insuraace Qremium if this Secancy tnstrwnent is heW by�ihe .
<br /> Setceuty. Bach tnanlhly installnxnt af the gage m� �urance ptemium sh�ll be in an art�aunt sufffcient to accumWate the
<br /> fuq ainw!matp�e mwr�nce qrmium wit�h Lender one manth prior to [he date d� full aemoa!mat�c insun�e
<br /> premiuen�is Aue w the Secretary:a if tlus Security Instrumcnt is heW by the Secrctary,each man�ldy etwje stWl be in�n
<br /> �rt�oune�qwi w ane•twalRh af�ne•half peneent of the outatanding pr�ncipal bafarKe due an the Nae.
<br /> If Bom�wer tendera tn l.enckr the ful!p� t of di sums r�ecurcd by this Security Insttument.Bormwerts�annt
<br /> ahail be Ceeditott with the batance rertwitring or all instailrna�ts for items (a).(b) and te)and any mottgage iasur9nce
<br /> premium it�rtaltment t�t l.ander h�s not become obligatod to pay to the Secnetary,snd L.ender shall pramptly c+efund�ny
<br /> :excess Tunds to St�rcowe% immediauiy priar to a focectosure sate of ttie Plquny ar its aequisit�on by Lender.8orrower's
<br /> account ah�ll be c�sdited wlth any balance remaining for all inswiJments for items(a).(b)and(c). .
<br /> 3, Applkatio�ot p�Ymenb, A11 payrtknts under Paragnphs 1 end 2 sh�ll be�pplied by L.ender as follaws:
<br /> �T.to the moRgage insurance pnemium to be paid by l.ender to the Secretary or to the monthly c6arge by ihe
<br /> Sec__�tu�instead of the monthly mortgage insurance preminm; .
<br /> �to any ta�ces,special assessments;leasehold payments or ground rents.and fue.flaod and other hazard
<br /> insutance ptetniwns,as ralained' ,
<br /> �j$p,to inteYest due under the Note;
<br /> FQj�,ta amoctization of the principal of the Note;
<br /> �(,to late charges dne under the Nae.
<br /> 4. Fue,F7ood and Ot6er Hazud Insuranca Borrawet sl�all insure all improvements on the Propetty.vahethes now
<br /> m existenae or subseqnently era�;ted,against any ha�rds.casuakies.and contin$encies,inclvding fire,for which Lender
<br /> requires insurance. 77�is msurana shall be maintained in the amounu and far the penods that Lender requiras. Borrower _
<br /> shall also ins�lre afl improvements on the Property.a'hether now in existence ar subsequentty erected.agaim-t toss by floods _
<br /> to the exteae required by the Secretary. All insurance shall 6e carried with companies approved by l.ender. The inswance a
<br /> poficies and any renewats shall be he3d by L�ender and shall inctude loss payable clauses in favor of, and in a foan �`".
<br />- accaeptable to,l.ender. =�
<br />- . In ihe event of toss.Borrower shall give E,ender.immediate notice by maii. i.ender may make proof oY loss if not �
<br /> made promptly by Borrower. Each inswance ccsm¢any concemed is hereby authorized and directed to maYc payment for �:
<br />- sucb toss dinectly w I.ender.instead of to Borrower and to Lender jointly. All or any part of tfie insurance prao:eds may be �_:
<br /> applied by Lender,at its option,eittier(a)to the reduction of the indebtedness under the Note and this Secunty Instiumeni. . �.
<br /> first to any delinqnent amounts apptied ia the order in Paragraph 3.and then to preps►yment af principal,or(b)to t1r
<br /> restoration or repair of the damaged propeay. My application of the p;aceeds ta the principal sfiall not extend or postpane.
<br /> the due date of the monihly payments whicb are r�ferrzd to in Paragraph 2,or change the amount of snch pag�cnents. Any ':
<br />- excess insurance roceeds over an amount re �5r�,d iv a all outstandin• rndebtedness under the Note a�d this Security �`�
<br /> p 4 p Y 6 rr:�
<br />- Instrument shall be paid to the ent9ty tegally entit3eei ihereto. 6.'
<br /> ln the event of forcclosure of this Secnrity fnsirument or other trsnsfer of title to the Pt�sty that extinguishes the -"
<br />- indebtedness.atl rigM,tide and interest of Botrower in artd to insurance licies in force shali ussro the urchaser. �-
<br /> P� P" P �:_
<br /> 5. Occupancy, Preservation,Naintenaace and ProtecNon ot the Property; Borrower's Lo�n Applicatlon, __
<br /> LeatehoWs. Borrower shall occu establish, ara�use the Pro as Borrower's nnci al residence w7thin s� da s �s
<br /> pY. P�Y P P �Y Y �_;
<br /> after the execuNon of,this Securiry lnswment and�fiaU continue to occupy the Property as Borrower's principal residence
<br /> • for at least one year after the dateof occupancy.�r��ess the 5ecretary determmes this reymrement will cause undue haMship
<br /> for Bonower.or u�less extenuatiraq circurristances exist whic?� are beyond Borrower's control. Borrower shall notify
<br /> extenuadn circumsiances. Borrowet shall not commit waste or destroy.damage or substatitially change ��
<br /> L�mders of any g
<br /> • the Property or allow the Property to dweriorate,reasonable wear and tear excepted. Lender may inspect the Propertyr if tNe �,� .
<br /> I'�perty is vacant or abandoned or the toan ic ir�default. Lender may take reasonable action to protect and prescrve such t_
<br /> vacant or abandoned Praperty. 8orroa•er shatl a?so be in default if Borrower,during the toan application process,gave _
<br /> materiaily fs�lse or lnaccurate infoimation or statements to l.cnder (or iaiied to provide Lender with any material •�:;.
<br /> infotmauun)in connection with the loan evidenced by the Note,inetuding:but not limited to.representations conceming �
<br /> BvtrowerSs occupancy of the Property as a principal residence. if this Secunty lnstrument is on a teasehold,Soaawer shafl =
<br /> comply wilh the provisions of the lease. li Borrower acyuires fee title to the Property,the teasehold and fee tlile shall not ��
<br /> be merged unkss Lender agrees to the merger in wriGn�. �_
<br /> i. ��to aorrovrer and Pratectioa ot l.ender's Right�in the Property. Borrower shall pay all govemmental . __
<br /> . or mnnicl ci�arges.fines and impositions that are not included in Fardgraph 2. Borrower shall pay these obl�gations on �
<br /> time directly to the entity which is owed the paymen� If[aiture tn p�y would adversely affect Lender's interest in the �
<br /> property.t�pon(i.ender's r�qaest Bormwer shall promptly furnish to i.ender receipts cvidencing these paymeNs. ;�
<br /> � �f Bamwer tdls to make these paymeMs ot the paYments required by Paragraph Z.or fails to perfornt any other �
<br /> aoveoai�t��od�tements conWned in this Securiry lnstnuneet,or thcre is a tegal pcoceeding that may sign�ticantly affect t-
<br /> . I.ender�rlghts in the Pmperty(such as a praceeding in 6anlwptcy.for condemnatlon or to enforce laws or regulations), �
<br /> then I.ender may do and pay whatever is necessary to protect the vaIue of tf�e Propeny and Lender's rights in,the Ptoperty.
<br /> inchWinB F�Y��t of taxes.ha�rd inawance and othet�tems mentioned in Paragraph 2.
<br /> Aay ano�unts d'isbiiised by Lender under this Pnra�raph shall become an additional de6t of Bmrower and be securcd �
<br /> by tMs Security Insnumen� These�nts shatl beu mtenst from the date of disbursem,es�at the Nae ratc.and at the �
<br /> , ciption'of l�der.sh�!be ttnm�i�t�ly due and�xayable. L_
<br /> ?. CarNd■rtiN. Tt,e proaeds of any a�acd or claim for damages.d�or consequential.in conoeetion with any ,,.
<br /> � . vaede�lioe or od�er tald�ig of�a}�prt of�e Prape,rty,or f�caive aoce i�qSxe of condemn�tiae,ace Le:+eby acs� _
<br /> � L +e �
<br /> -,._--- --��3.�#�e poid to t.eadet tcs s�se�t o€the��,��'�edeess�hat r+rma:•��mipaid nader tt�e�tote andthis _ -
<br /> Secority#nstrument. I.eader sh�llapply auch�oco�s to the re�tion of the indebt�ess ur�der the Nae and this Secwty =
<br /> In�eat� f�t to any. �q �moont�applied 'm the ader provided ia Peragraph 3. and thrn to yment of
<br /> ptiocipl. My appliahan of�piecads to the princ�pal shall not extend or postpone the due date of�t montlily =
<br /> . : • ' fPade2 oJ1 ycaes) �
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