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<br /> _ � 1. p��t ot P�'iNCIpNI�I�I�e�t Md L.�tr Ci�u'p. liorrower slull p�y whstt due the pria�cfp�l of.and itWorek on,
<br /> 1M d�bt evWetxed by tP�e Note rixl I�te ch�ex due w�der the Nntc.
<br /> 2. MoatMty MlaMnis ot'11�xa,lwwr�a Nwl OfMsr�p. &xrower�hrli heclude tn e�ch mamhlY P�Y�•
<br /> to�other with the{xlnclprl�rNi�n�ereµ�r�eR WrtM in the Naoe�uui�ny INw� clu�ar.rn imWlme�t nf�ny(�)uxa md
<br /> cpeci�l wownenl�kvi�d ar w be lavlal y�l�ul the Poopaty,lby Ie�eNold p�ymentr arsrnund reata on ths Ft�p�rtY,and
<br /> (c)premium�fix inwr�xc royuitrd by Wra�r�ph 4.
<br /> E�ch monthly itut�llment fa ikmr l�l, (b) �nd (c) Kh�ll oywl arc-twetfth ut'the Nnnu�l �mcwnt�. xr r+earonably
<br /> ertimRted by i.ender, plu� Nn �nwunt .uflkknt �o mNint+�in �n �dditlaud MdMxe of nd mcx+c th�n cx�e•�ixth Uf the
<br /> �--- crtinurtecf wmcwmr. Ttx: full wuwr! wiwunt Eor each ltem shull he accumulated by I.rncier within e periat endin��ne
<br /> month beforc�n item wc�uld become delinyuent. I.ender�fu�ll hold�he�nau�ts cotlocted in uuu lo pay item�(�),(b)w1
<br /> — (c)before they become delinquem.
<br /> If at�ny timc the toul of the p�yments held by l.onder for items(y.(b)pnd(c),together with the future monthly
<br /> p�ymentc fur auch ikmx pay�ble ta Lender prior to the due dxtea of such item», excecdr by morc Utan ane-:ixth the
<br /> � eu�m�tod iunount of p�ymentx rcquirod topay such items when due,and if puayments on the Notc rrr current,then Lender
<br /> shall either cefund the excess over one•sixth of the extimwted paymonts or credit the excess ovnr one-xixth of the eulm�ted
<br /> - - payments to subsequent paymenu by Borrower,at the c►ption nf Borrower. lf the total of the pAyments made by Borrower
<br /> for item(a),(b),or(c)is insufficient to pay ihe item when due,then Borrower sh�ll pny to Irender u►y amount nececsary w
<br /> malce up the deficfency on or befac the date thc item Fxcomes due.
<br /> As used in this Security lnsuument."Secretary"means the Secrctary of Housing and Urtwn Aevelopment or his or her
<br /> designa. In any year ln which the Lender must pay a mortgage insurance premium ta the Secretary.each monthly payment
<br /> -- -- shap also include either: (i) an inswl(ment of the annuwl mortgage insurance premium to be paid by I.endcr to the
<br /> - Sec�ewry.or (ii)u monthly charge instead of a m�ngage insurance premium if this Secudty Insuument is held by the
<br /> �. ' Secretary. Each monthly installment of the mottgage insurance prcmium shall be in an amount�sufficient to accumulate the
<br /> -. • futl annual mortgage insurence }xemium with L.c�xler one month priw to the date tiu full annual mortgegc insurance __
<br /> premium is dne to the Secretary;or if this Security Instrument is held by the Secretary,each monthly ciwrge chall be ln an
<br /> " amount cqual to onc-twelfth of onc•half percent of the outstandtng princ�psl balance duc on the Note.
<br /> ;� < :� .� . If Borrower tenders to Lendor the full payment of aU sums secured by this Securiry Instrument.Borrower'�account
<br /> " ' .'•';�. � shall be credited with the balance remaining for all installments for items(a). (b) and(c)and any mo�tgage insurance
<br /> .s►;,�n::.i. • premium installment that Lender has not become obligated to pay to the Secretary,and l.ender shall prompdy refund an�
<br /> '��='��#''i•`.':''�;'i-".•�":�� excess funds to Borrower. Immediately prior to a foreclosure salc of the Property or its acquisition by Lender,Borrowers
<br /> .•'.;..�.�,
<br /> �!�Fst;;;t, " account shall be credited with any balance remaining for all installments for items(a).(b)and(c).
<br />. ���,;��x�;;�.�- 3. Ap Iicatlon of P�ymente. All payments under Paragraphs I and 2 shall bc upplied by Lendcr as fallows:
<br /> • �. , :.: �to the mortsuge insurnnce pramium to be paid by Lender to the Secretary or to the monthly cherge by the
<br /> - .;�;,�;;,;;;,;.•,�., ' . �` Secretary�nstcad of the manthty mortgage insurancc premium;
<br /> ,'.,,�,;>�,• .::,. �:� ; SECOND•to any taxes.special assessments,leasehald payments or ground rents,and firc.flood and other hazard
<br /> . t +• insurance premiums,as required;
<br />� � �(4:.'.'I��Y-.. �.
<br /> __ . __ �;��.•, �:_�� �31B�.to intercst due under thc Note;
<br /> • FO[IRTH,ro amortization of the principal af the Note;
<br /> ' �,to Inte chargcs due under the Note.
<br /> � ��. 4. Fire,Flood and Other Hazurd Insurance. Borrowcr shall insure all improvements on thc Property,whether now
<br /> • in existence or subsequently erected,ugainst any ha•r.ards,casualties,and contingencies,including fire,for which Lender
<br /> requires insurance. This insurance shall bc maintained in the amounts and for thc per�ads that Lender rcquires. Borrower
<br /> • shall also insurc all improvemcnts on the Property,whethcr now 9n cxistence ar cubsequently erected,�gainst loss by floods
<br /> . to the extent required by the Secrctary. All insurance shall be carried with companies approved by Lender. The insurance
<br /> D�. . policies und any renewuls shnU be held by Lender and tihull include loss payable clnusec in fuvor of, and in a fotm
<br /> �, �� "' acceptableto.Lender. _
<br /> jw� ,,,,, In the event oT losx, BoROwer tihall give Lender immcJiutc noticc by mail. Lender may mnke proof oY loss if not
<br /> :�'-' mnde promptly by Barrower. Euch in,ur.uur company concemed i�hemby authorized and directed to make payment for
<br /> 1 f, such loss dircctly to I.ender,instead of to Borrower:►nd to LenJer jointly. All or:uiy part of the insurance proceeds may be
<br /> applicd by Lendc�,ut its option,eithcr(a1 to thc rcduction of thc indchtcdne,s undcr thc Nute and this Secunty Instrument. -
<br /> ; first to uny dclinyuent amounts applied in the order in P�aragraph �, and then to prepryment of principal,or(b) to the
<br /> rcstoration or rep•rir of the damaged prope�rty. Any application of the prared,to the princ�pal shall not extend or postpone =
<br /> the due datc of thc monthly paymcnts whuh atc referred to in Prragruph 2,or rhange thc amount of such paymcnts. Any _
<br /> ' , �� excess insurunce pr�eeds over an umount rcyuimd w pay uil outtitanding indehtednesti under the Note and this Securiry
<br /> Instrument shall tx paid to thr entity legally entitted theret��.
<br /> � � In the event of fomclosure of this Security Inxtrument ar othcr trunsfcr uf title to�hc Propeny that extinguishe.the
<br /> indebtedness,all right.tide und interc,t of Borrower in and to in�urance policie�in force.hall puss to the pu�chascr.
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