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<br /> � � �1. !l�jirert rtlelici�I�Ie�+ut s�i l.tM CM�r� sl�dl p�y w6ei4��d�a p�incip�lt��M�O i�a�at,ce,
<br /> tbe debt tridaioe�ly d�e I�Ioit�GMe eh�tjes d�under d�e��
<br /> � _ �1 N7��'�,i�a�ob�Of�er C,6�es. Ba�a�bwer ehalf Includ`e in ach mnaddy a�ne�ot: , ,
<br /> � tc�ba�die�principd and int��nese�set ranh ut the IVa1��Ae�y IaNe ch�es,an 1rotaUnran of�ny(sj aud. �
<br /> . �cid as�asroeot�ktised or to 6e levied a��inat the Property.(b)ka�ehold p�y�nents or�ra�u�d raiq an the Prop�aty.aod `
<br /> (c)Premium.i fa iiaurmee required bY Pan�+Ph�• . . .
<br /> F�ch mootbty in�talbn�nnt fac.i�ems�s).(b1�ad(c)sbatl equal aie-tWdhb nf die�i_amanits,ia tuaiq�. ._
<br /> es�mMad by I.ender.��1us an �mcruk sutf�ciem to m�intain an addjlia�t bdance of not moFe d�a arc-suqh d d�e , '
<br /> ' esti�n�kd artwints. 7UG fWl arrwai aniawK far racb iiem�116e acc�u�ui�ted 6y l�ender witidn a paiod ad'aK aee .
<br /> - � month 6efaoe�n itan waoid beeome delinquent Leadtr atiaU twW dae anamfs cotkcted�in iruse to pay items ta).(b)aed .
<br /> (c.)beflone 8�ey becamt de�iMquent. � �
<br /> If at aay cime tbe tauti of�he��s•beld 6y Leeder for i�ems(#�:(b)and(c), widt the fwune moa�Ey
<br /> Paymajts!oc wCh items ptyabk W priot to Ihe dae d�tcs of such item�e by ewre tA�n aoe-sixth tbe
<br /> ` estimated�mouat of P�7��N�w py sucA ilems wAen due.and if q on the Note arc cuRaM,tben La�da
<br /> � , s�ll eitherrefuad tbe exoess o+ra aae-suub of the a�nated payn�ents or ce n th�ezcess over-ax-siatl�d d�e ati�nated ,
<br /> � payma�ts w su6se�ent Wy�t�ents bl►�aso�rer.x the optian af ifu�rower. If the Wtal of the paymaits m�de 6y Hamwer
<br />. ' for itan(a).(b�,or(c)ic�w pay t6e ium wbea dur:tM�Barrtrwer shall Qay to Le�der any anouat nooesary to
<br /> nt�lce up the de�jcia�cy an ar befae tbe dste the itan 6xomes dae. �
<br /> As used 9n tbis Sec�uity lawumen�"Sa�tetaty"mews tde Soc�etary of Housing aod Ut�an Deve1opme�t ar dis ar 6er
<br /> - desig�. In sry yeu in which the i�tder mustp�y s mo�tgage ins�ance pemium to t1�e Soc�etuy.eactt moathlY WY�
<br /> s6�U atw iaciude eitber: (I)aa itutallment d the auival mat�e inwr�ce p�emiuta to be p�id by Lender W tLe
<br /> � , Soc�et�y.df(U�A Ifi011tI1Tj►Cli�gt ItLSIGi�Of a IROA�C 1���^^�`premium if this Security Tnsu�une�u is l�e1d by the'
<br /> ��F�ch iuon461y�t of tbe mortg�ge iasuraace premium shall be in an art�aunt suft"�ciedt to accumWate the
<br /> �8� P�Nwn wi� I.rnder one o�oe�h priur w 8rc dito die fuU annwl �ttOrtg�gt iasuranoe
<br /> premiom is due to d�e Sa�rct�ry:or if t6is Securiry I�uma�t is beld�y the Sa�etacy.ach monthly chirge sl�all 6e in an '
<br />: amouet aryal to onc-twtlfth of one-6�If per�rnt bf dee aitshndin8 priac�Pd btl�nce qae on the Not+e. _ •
<br /> � If Bamwer tenders to Lender the full pay�n t of aU s�uas§ecuced 6y this S�curity Instniitknt,Bato�ver��
<br /> . slall be ctedited with Ihe b�nce nmaining fa a[I inst ���+ts fo�iums(a}.(b)and (c)and any mortgige insur�noe
<br /> pnmium insWLneat thu l.e��der hs�s not 6ocasne obliEttod to pay to th�Secretary.and Lnider sbaU P�PdY n��y '
<br /> _ . exass fimih ro Bortower. Immediaeely prior to a foceclusuie sak of d�e R�nperty or its acquisiitlon by i.ender,BonoN(eer�
<br /> account sh�ll be cndited with any balaace remaining fa aq installments for items(a).(b)and(c).
<br /> . 3�. Appliest�d P�'meuta. All paymeats nnder�Paiagraphs 1 and 2 shall be applied 6y Lender as folbws:
<br /> � . �$$T.to the mortgage insurance p�emium to be paiA by Lender to the SaTetary or to the monthly chsirge by the
<br /> Sa�netary instead of the mootbly mortgage�ruurance p�emium:
<br />' ' �to any taaes,special ac.ses.munts.Ieaselal4 paYmer►ts or ground renu.and fine.flood and dher bazacd
<br /> jns:u�ance pcemiucyu.as r �ed: . .
<br /> �Q,w inteast due�the Note; „
<br /> • �,to�ewrtizadon of the priacipat af the Note: '
<br /> - �w lau charges du�uader tbe Note.
<br /> 4. Fir�F7ood and Other H�zard lnsursnoe. Bomower shal!insure all improvemeats on the P�vperty.wt�ether now
<br /> u�existence ar snbseque�tly erected.against any hazacds.casualties.aod contingencies.ir�ctuding firo.for which Leoder
<br /> nquins insniance. 7'his insntance shali be maintauied in the amounu and for the periods that Lender requires. Bomnwer
<br /> shaD also in4ure all improvements on the Ptoperry.whether now in existence or subsequently erat�,against loss by floods
<br /> to the extent nquired by the Secntary. All insucance sha116e carried with companies approved by Lender. 'IUe insvrarxe
<br /> policies and any renewals shall be hetd by L.ender and shap inctude loss payable ciauses in favor of.and in a fmm
<br /> acceptable to.Lender.
<br /> In the evertc of i+oss,Borrower shall give Lendec immediate noticc by mail. Lender may maice proof of loss if not
<br /> made promptly by Borrower. Each insurance company coneemed is hereby authorized and directed to mafce payment foc
<br /> such Ioss dir�ectly to l.ender.instead of to Bortower and to Lender jointly. Afl ar any pan of the insurance pcoceeds may be �
<br /> ` applied by Lender,at its option.either(a)Eo the teduction of the inde6tetlness under the Nae and this Security Instrumen�
<br /> first w any.delinc�uent amoun�s apptiaf in the ordes in Faragrapb 3.and then to prepayment of principal.or(b)to the • _
<br /> iestocaticn.uc repau of the damaged property. Any application of the procer,ds to the princ�pat shall not extend or postpone �
<br /> , the due�te of the mont2:Iy paymenu wh�ch are referred to in Paragraph 2,or change the amount of such payments. Any _
<br /> excess insnraQtce proc�'s over an amount requimd to pay all outstanding�indebtedness under the Note and this Secutity =
<br /> Insuumect shall 6e Rai�i ti��.'�e entity legaliy entitled thereto. _
<br /> In tbe event of fazclosure of th}s,Security Instrument.or other transfer of titte to the P�aperty that extinguishes[�e =
<br /> �ittdebt�s� all right.title and interest of Borrower in and to insurance policies in force shall g�s to the purchaset � . _
<br /> S i�kcupancy, Prsservadon, Maiatenaace and Protectton of the Property; Borrowre's Loan Appttqtbe; =
<br /> ' !et�e�wC�s. Borrower shall occupy,establish,and�-use the Property a5 Bonow�ers pnncipal residence within siaty days _
<br /> after.t2�e execution of this Security lnstrument and sftall continue to occupy the Property as Borrower's principa!residence �
<br /> . for at le2s�one year after the date of occnpancy,unle�:s the Secretary determines thit requi�ement will cause undue hazdsh��s `-
<br /> for Barm�xer,os unless eatenuating circurtistances exist which are beyond Borrowers cen�ol. Borrower shall noti.Ey '
<br /> I.endecs�;€z.ny entenuating circumst�ces. Borrower xhall not commit wastc or dcstroy.+jam�ge or substandally chan�
<br /> the Propetry or altow the Roperty to deteriorate,masonabte wear and tear eacepted. Lender .r.ay inspect the Property if t�te
<br /> Pnuperiy is vacant or aba�doned or the laan is in default. Lender may take reawaabte action to protect and preserve such �
<br /> vxam or abandoned PEOQerry. Borrower shall atso be in default if Borrower..�Uring the loan application process,gave
<br /> . . materialt�r false or inac?c�rate information or statements to Lender (or fai�eii to provide I.ender with any material
<br /> infom�don)in connection with the Eaan evidenced by the Note.including,but not lim�ted tn,representations concerrtcrtg
<br /> Boriawer's occupancy of the Propecty as a pdncipal residence. If�his Security Instrument is on a leasehotd.Borrower sixx�?
<br /> camply wirl�ihe provisivns of the lease. �f Borrower acquires fee titte to the Property.the leasehold and fee titk shall�
<br /> be meiged unless Lender agrees to thc merger in wriring. r;•
<br /> f. CLae�es to Borro�rer aed ProtecNon oFLender's Rights in the Property. Borrower shall pay al!govcmmental ���
<br /> ot municipal charges.fines and impositions that arc not inctuded in Pb.uagr�ph 2. Barrower s�aJl pay these obligatians'an '�'
<br /> tirne directly to tlx entity which is owed the payment. If failure to pay would adversely affest Ixnder's interest�n the �
<br /> P�upeity.apoo Lender's tequest Bonower shaU pramptly fumish to Lender receipts evidencing thlese payments. i
<br /> , If Bomower fu'ls to make these payments or the paymenfs required by Paragraph 2,ai Fails to perform any otffev j
<br /> . �o�vensnts and�neements contaieed in t6is Securiry Instrumen�or thcre is a legal proccediog that may sigaifirandy af�ect •
<br /> l.ender�s righu in tfie Pmperty(such.as a ptaceeding in bankruptcy.for condemnation or to enfotce laws or regW�tionsl, i
<br /> tl�en Lender m�y do and pay whatever is ne�e5sary to protect tfte vatue of the Praperty artd Lender�rights iri the Property. ;
<br /> • inchidieg payn�ent of taxes.hazard insurance and oth+er items men6oned in Paragraph 2.
<br /> � Any am000ts dis6ursod by Lender under this Paraprapb shall become an additicrna}de6t of Barrower and 6e secu�ed �
<br /> • 1ry tins 5a.�oriry Instrmeent 'll�ese amountv sJt�l!bear�nterest from the d�te of disbursement.at thc Note rnc,and at tht
<br /> ' aption of Lender.sh�ll be imeeeAiatety due aed pay�bk.
<br /> . 7. �'w�ie�■�tio�. 71�e proaeds af�y awua a rlam for.d�mages,dinct or cansequential.in coneectian with any �
<br /> caedemo�tion ar dher Wrie�ot�ny p�t of the Propeey.a for caoveyance m pl�ce of mpdemnatian.arc hereby assi� i
<br /> - _.: a�t!�1!6�p�Q tQL�tQ the eat�4!tke fal!••*M��•of stx-i�bsedness�Itse ranait�un�aid sissd�r tt�e Mote�tt�is F
<br /> � Sa�rily Inununtnl. l.eeder sh�ll appiy such penceeds to tLe nduction of the indebtedness under the Note and this Seciuity �
<br /> �4 fmt to aey deli�ueet amopot+�plied ie the oider p�vided in P�ragraph 3.aad tl�rn m prepaymeet of
<br /> . priscip�l. Aay applic�tia�of tbe pmoeats to the qincipal shall not extend or postpone tl�e dne date of the monthly �
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<br /> �pasr2al�pasn� . � k
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