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<br /> 1. P��I bt�'Udpd,INhe+Mt�■d I.Nt CM��a Sarower�II p�y whet►duo 1bo princip�l oP�atd iamr�st on.
<br /> �he debt ovidenced by�he Note md latc char�e:�ue undar the I�ota•
<br /> 3. MonthlY Wymeab ot'i�xer.la�urmce�nd 016er C ea. Harrower ch�ll include in ach m�mthl prymen�
<br /> wgdf�w with the ptincip�l md intencst ss set fonh in 1he Note�any t�te chprQ�.�n in�t�ll�on U e��P�rpertY.n�d
<br /> rpeci�l sue�ment�kvfed ar to bo levied agdn:t the Propeny.(b)leazel�old p�yrnenu or�oued
<br /> (c)pnemium�for Guw�nce roq�d�ed by Puxyraph 4.
<br /> F.�ch ma�uhly inrlallment for item� (a), (b)and (c)sh�ll oquel one•twelflh of the annud amounu. iu reawruiblY
<br /> '�-----s --- - -, eulmrted by I.a�der. plus an �naunt cufficient to nwintain an eddidonal bal�nco of not mure �twn onc-sixth of!he
<br /> enirtuted amounts. 71ie full �nnwl Amount for each ltam shall be ac;cumul�tad by l.ender wi�hin s paiad endin�one
<br /> month befae�n item would ba�rne delinquent. [.endcr sholl hald the wncwnta collxted in tmst to pay item�(a)�(b)�td
<br /> (c)befare�hey bocame depnquent.
<br /> ' !f wt ony dme the wt+d of the prymentr ixld by Lender far itema(a).(b)and(c).togetlkr with the futuro monihly
<br /> paymenla for sueh items p�yable W l.ender pdor to tha due dates of such itema,exceedc by moro than one-si�cth the
<br /> estbnaced amount of p�ymenta requlrod topay such items when due.And if pa ments an the Note aro curnnti then Lender
<br /> ` `��s�°°"`— shall eiU�er refund the exoess ovcr one-sixth of the estfmated payments or�t the excess over one•slxth of�he estimoted
<br /> paymenta w subcequent paymenta by Bortoweq at the option of Borrower. If the tWal of the p�ymenta made by Bormwer
<br /> for item(a).(b).or(c)ia insufticient to pay the item when due,then Borrower chall pay to Lender any anwunt nexer�ry w
<br /> make up the deflciency on or beforo the date thc item bccomes due.
<br /> As used in�his Securiry Inswmem,"3ecrctaty"means thc Sa�netarY of Housing end Urban Development or hia on c�r
<br /> designa. In xny year in which tha Lender must pay a mortgage insurana premium to the Secretary.each monthly payment
<br /> el��ll also include either. (I) an inatallment of�he annu�l moRgage insurance premium to be paid by Lender to th�
<br /> Secrctary,or(ii)p►monttily chnrge instead of a mortgage insurtince prcmium if this Security Ir�saument is held by th�e
<br /> — — -- Sec�etary. Each monthly installment of�he murtgage insurance premium shall be in an amouot suftkient ro accumulate the
<br /> I full annwd moKgage insurance prcmium with Lender one manih pr�or to the date the full annual mortgage ins�erance
<br /> prcmium is due to the Secrctary;or if this Secu�iry Instniment ia held by tf�e Secretary,each monthly ch�go sh�ll be in an
<br /> � wnount equal to one-twelhh of one-half pereent of the outstending princjpal balance due on the Note.
<br /> :` ; If Borrower tenders to Lender the full payment of ell sums secured by this Sccu�ity Inswment.Borrowerk account
<br /> � shail be credited with the balence rcmaining for all inatallments for items(a). (b)and (c)and eny mortgage insuroncc
<br /> ' a. premium installment that I.ender has not bacome obligated to pay to the Secretery,and L.ender ahall prompdy cefund nny
<br /> exass funde to Borrower. lmmediately pdor to a forcclosune sele of the Property or i�s acquisition by Lender.Borrower i�
<br /> �.�'1 account:hall be crcdital with eny twlance rcmaining for all installmenta for itema(a),(b)and(c).
<br /> °''• 3. AppNcallon o�Paymenta All payments uAder Pamgraphs 1 w�d 2 ehall be epplied by Lender es follows:
<br /> '�"' ' F��T to the mortgage insurance pr�emium to be paid by Lender to the Sa�retery or to the monthly char�e by the
<br /> � Secre instead of the monthly moRgege insur�nce premium;
<br /> ,°::���� ��Q�,w any twees.speciel assesamenta,leaschold peymems o�g�ound rents,and fire.flood and other hazard
<br /> .�-� � �, 3sssurance psemlusns.asny uired;
<br /> ��,,�'��.� �(($Q.to interest due under the Note;
<br /> F�!::��:?;�::�,, EQl[�.to amonization of Ihe principal of the Note;
<br /> .. « ��'� '.��',j'':... .. p�rH,to late charges due under�he Note.
<br /> +�".��` ' 4. Fire,F7ood nnd Other Hazard Insu�ance. Borrower shall insure ull improvements on the Property.whether now
<br />:.��: �'�`:k��.�����'„;�S � y B Y ,
<br /> „ in existence or aubseyuentl erected,a ainat an hazards,cosuulties,and oontingencies, including fire.Por which I.ender
<br /> _;;%,��,_,�c :.:.`• :.,.�, �equ ir�es insurance. '[liis inaurance shall be maintamed in Q�e amounts and for the perlods that I.ender requirea. Borrower
<br /> ,�� ' '�+ shall also insure all improvemen4g on the Property,whether now in exixtence or subsequently erected,ngainst loss by tloods
<br /> �����A• ' to the extent required by the Secnetary. All insurance shall be carried with compnniea nPpraved by L.ender. The insurence
<br /> -r.N. , , , policies and any renewals shall be held by l.ender nnd shall include I�;s payable clauses in favor of. nnd in a form
<br /> - •w,.:..-::.�.,�...-.,.y,,�: � acceptaWe to.Lender.
<br /> ••»�-r In ihe event of loss, BoROwer shnll give I.ender immediote nWice by muil. Lender muy make proof of loss if not
<br /> .:a,�F ��+r:s.�t : , .
<br /> Y�.� � � ;y.:�;.. mnde promptly by Borrower. Esch insurunce company concerned is hercby awhoritxd and directed to make puyment for
<br /> ,:���;,;.:- "'' .' such loss directly to I.ender,iostead of to Bormwer and to Lender,joinUy. All or ony part of the insurunce proceeds mny be
<br /> '�- � ���wf�,�.�,')��,'`,;,., • appUed by Lender,at its optian,sither(a)to the reduction of the indebtedness under the Note nnd this Secunry Inswment.
<br /> . ..G•:�...::.:..:::.�� • � fi rst to eny delinquent amounts upplied in[he ordcr in Parngn�ph 3,und ihen to prepaymem of principal,or(b)to the
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<br /> � E �;�.;�:;�•,ti,.,,yg,. ..: resWration or repair of the damu ed ro rt . An licu�ion of the racceds to ihe nnci al shull nat extend or s ne
<br /> "' the due date af the monthly payments whic are referred�n in Puragruph?,ar chunge�he umount of sueh payments. Any
<br /> �� ''' ' ' � , excess insurunce proceeds over nn umount rcqu{red to puy all ows�unding indeMednexs under the Note and this Securiry
<br /> ' �• Inslrument xhall be paid to the entity Iegally entilled�hcreto.
<br /> : -� . , in the event of foreclosure of this Security Inurument or other transfer of�ide to the Propeny ihat ex�inguishes the
<br /> �� indebtednexs,all right,title und imercst of Burcower in unJ tii insurance policies in li�rcc shall pa„ta the purehaser.
<br /> � �^�� r S, Occupancy� Preservation. MAintea�nce and Protection uP the Property; Borrower's Loan AppNcation;
<br /> 4 �� �• I.easeholds. Bortower shall accupy,estnbiish,And use the Propeny u� Borrowcr; prirKipul residence within sixty days
<br /> '�"�'';�i" ';. , all conlinuc to occu thc Pro •rt us Burrowerk principal residcnce
<br /> . �'• ��w after the execution of this Security Instrument wid sh py P� Y,
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<br /> =-(3� �" ., for at leust one ycar ufter the dnte of accupancy,unletis the Secretury determineti thi�rcymrcment will cAUSe undue hw�Jship
<br /> =`� �' �� for Borrower, or unless extenuating circuaixtunces exist which urc ix:yond BoROwerk comrol. Borrower shall notify
<br />_ ° �� '"���:%'�•.�:���i• Lende�x of any extenuuting circumstuncex. Barrower shull not commit wustc or des�my,dnmage or substantinlly change
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<br /> __ "-;�:;�,;•� the Pro p erl y or ullow the Pro p en y to deteriorntc,reuwnuble weur und teur excepted. Lender may�nspect ihe Pruperty if the
<br /> _ ; � • ^ Property�s vactint or abandoned or�he loun is ��de(nult. Lender muy tu{:c rcusonublc actlon�o pratcct und prcserve suc h
<br /> �' • � - `i vacant or Abandoned Property. Borrowcr shull ulso tx: in dcfuult if Bortnwcr,during the luan upplica►ion process.gavc
<br /> - • %�•••�' ��: materiell false or inuccurnte inPormution or stutement, ro Leixler (or failcJ to provide Lender with ony muteriul
<br /> ... .,,.; .. y
<br /> _ ;.;.,_� ' • informelion)in rnnn��ction wlth 1he loan evidenced by the Note,including.Nut nut lim�ted to,representations coneeming
<br /> � ,� Borrower�s occupancy of the Property a�u prinrips�l n:sidence. If this Security Inx�rument ix on n Ieusehold.Borrower shall
<br /> :� : comply with the provisions of the Icuse. If Bomowcr acyuirex fec�itic tu the Pcaperty,the leuschold and fee title shall not
<br /> . '.�;,�;.,.�:;•-;,,,.,; be merged unless L.ender agrecs lo the merger in writing.
<br /> -�•�•�;,.,; ,�,„. „ 6. C�es to Borrower s�nd Protectlon of Lender's Rights in the Prope�ty. eorrower shall pay all govemmentol
<br /> -_ .ti,����-;.� or municipal chuges,fnes and impowiiions that a�r+e no[inrluded in Parugruph 2. Borrower shall pay thesc obligations on
<br /> - �, time di�scdy to lhe entity which is owed the payment. If fnilure to puy would udvenely nffect Lender is intereat in the
<br /> - - Property.upon Lender3c rcquest Borrower shull promptly fumish to Lender rrceipts evidencing these psyments.
<br /> — If Borrower fails to make these paymenls or the paymentx required by I'aragrnph 2,or fnils to perForm any other
<br /> .....�....�...�.��+vn�a r�,mi�d in�his�Securi[v InsWmenG or lherc is u IeXa�P�eeding Ihat may significanUy uffect
<br /> � ..... .___ ---------- --.... _
<br /> --�„e i,ender�dghta�n the p�uperty(such as e proceeding in bankruptcy,fex cnndemnutian ur to enforee Inws or regulauona�,
<br /> --� then Lender moy do and pay wha�ever is necesw►ry io protect the vulue of the Property und Lender's rights in the Property.
<br /> °= including payme�tt of tazes.hazard insurr�nce and utAer uems mentioned in Hnrugrop�2
<br /> My omo�unts disbursed by l.ender under this Huagraph shull Ix.�come an additionul debt uf Bo�rower and be stixu�+ed
<br /> — by this 3ecurity Inatrument. 71rcse amount�shell bear intcrest from thc dnte of dieburbemcni,nt U�e Note rate.and ut the
<br /> aption of I.ender.shall bo immediately due and pnyable.
<br /> �� Copdemnalloo, 't1w pmceeds of any awatd or claim for dum�ges,direct or consequential,in connection wilh any
<br /> ¢pdemnntion or dher t�ln�of any part of the Property,or for conveyunce in plac�e of rondemna�ion,ore hereby assigned
<br /> wd dull be pt�id to Lend�er to the extent of the full uinount of the indebtcdncsx thut remains unpaid under the Note and thia
<br /> Sa;urity Iruttument. Lender shall apply auch pmcads to ihc reductfon uF the indcMedncss under the Nae and this S�uriiy
<br /> Irutrunknt, Mt to Mny delinquent amowts applied in tho ordrr provided in Pnragraph 3,and then toprcp s�yment of
<br /> pdnclpel. My+ipplication af�ho proceods a the princip�l �hall �exa.nd or pos�pone �ho due dwe of the monthly
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