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<br />�. :���'�a� �. Peyat�t ot Prdric��Interest aud Late Gh�rge..$oaower shaU pay w3ren da�tha principal of,an�intetest on. �.` �,r;_- _
<br /> � ' �_ .�: . ,the de6�evidsnced 6y_t?�1�T�end taie charges due tinder the Not�. =_-
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<br /> �. • _ �'. MoathDgr paym4nis�'E1�ses..In�'-m'sace aa�04her�9tt�rges. �osrower s6all inctude in each mat�thly paymxut. x ;,�
<br /> �- �`�`�:�j�`a. .;��,' to �&e�witb the nac' al and mtesest as set forth'en the Ncm an�aay lute ec.an instulIment of an (a)ta�ces sind } °-
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<br />-- .}. :�-,�'�Y�:,.��; ,�.. sgecial assessmems teviced ar w be levi�d aga�nst the�tuperty.(Is)leasehold pa�e�ats o�r ground renu on the Pm�erty.and .�.. -_
<br /> - -. • (c].�s for 6�sutance�quired by Parapaph 4. � �° -_-
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<br /> = Y ` . --` €;., Ea.ch tmoatbJy insiallment for itetns (a). (b)and(c3 sh81i�qual.one-twelfth af tAe annual amounts.as.teasonabiy ' .,,•.,;,�k_.-
<br /> ' ,__ .'.�s:• ��"�: �. � �• : �by L�eadet. Plus an amonnt sufficient to mainmin an addniona] ba:ance of rcat more than onc�sixd�a� the ";`.,����L
<br /> .. .,..�;�<.���, �� ' estimatea amounts. 7he full s�+ual amount for earh item shali be accvmutated 6y Lender wiihin a pe�iod ending one y _,---.
<br /> _.•- �°`�`-.:`.--:-�='.°`'-'::•� ma�h befor�an iteit�wnutd�drTiaqua►t. I.eAder s1r�l hoid the�nonats colteaed in tsust io pay items(a),(b?and ;�
<br /> ' � � � " � (c)6efore they become detinqttent. � _ ��� r✓�v =_--
<br /> • � If ai any tuite the total of the�ayments i�etd by I.ender for items(a).(by and(c),together wirh the futu�e monthly ° s,,.r, - -
<br /> ' payments fos sucti items paya6le to Lender prior to the due dates of sach items,e�cceeds by mora than one-siath the ,.,�,'� =dw`.:
<br /> = - . : . �-, esdmxse�amuunt of paym�nts roquired t�o pay such iu�ns wl�n dae.and if paymen�v+oae the Aiore are curren�thcn l.eader '+-` �� _-_:=
<br /> - � •. . . sI�li either tefwid the exc�ess over one-siuth of tlte astimated payments or credit thc excess over one•sixtb of the estimated ' _ -
<br /> paymenis ro subsequeni payments by Baaawer,ai the option of BoTrower. If ahe total of the paymeats made by Bonower `' r _�.i=
<br /> �j�• • for item{a).(b};ar(c)is u�svffccient w pay the item when due,then Barmwer shall pay to Lender any amount necessary to i` . -
<br />� 3: ' a►ake up the deficiency on ar befoie the date the item becomes due. � ,±
<br /> As a�ed in this Sec�rity Instnunent,°Secietary"mesos the Sec�etary of Housing and Uiban Development or his or her _
<br /> • � desigaee In any year in wtuch the Lender mus�pay a moatgage insurance premium to the Secretary.each monthly payment :.. .
<br /> shall alsa include either. (i)an in�tallment of tae annual mortgage msurance premium to be paid by Lender to the � � .;;;::�;;.��_-_-_
<br /> - .. �� ,;:;?' Seccetary.or(i�)a�nonthly cttarge instead of a inortgage ensutance ptemium ii this Security instrumert is held by the . ;;,� -
<br /> :'�� Seaetary. Each monttily installment of the mortgage mswance premium shall be in an amaunt sufdicient ta acc�nWate the . .,,.,----
<br /> ',�;,.,. .::: :.. �' fiill aimual mortgage insurance ptemium with Lertder one month¢nor to the date tite full annual mortgage insurance. �•� • , _
<br /> r ���� premium is due w the S�cretary:or if this Security�ent is held by die Seaeta:y;eac6 manthly charge shaU 6e in an ' ;t�.; . �
<br /> {�r;;� , . ;:,�;� ;` amount equal w oae-twelfth of ane-half percent of the outstand'mg principal balance due•aa the I�fote. ; :;`;��� ' . ;
<br /> .:y�:��t,:•_��"�: If Bmrawer tendets ta Leader dte full payme�tt of all swns secuced by this 3ecurity Instrument,Bomuwer's account '• - ._.`__
<br /> � _��:, ; .;rn_i;<:� -x
<br /> _ : °N -•�;- --�--�-- � shall-6e-iredifed�with�the batan�e ranaining�for all mstallments for items{a){b)and{a)and any moagage msurance -�",:�.,� - - �
<br /> ";,.`., � . premium instaWnent d�ai LenQer has�ot.b�ome obligated to pa�to�he Secretary,and Lender s6aU pmmptJy refund any . . .
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<br /> � eacess fiwds td Batrower. lasmediately prior to a foreclosme saie of�he Property or its avquisitian by Le�tder,Borrower's . s�
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<br /> ,,�` �;;� usurount s6aii be credited arith any 6alance temaining farall instaltmenu for items(a).(b)and(a1. .. + _ �..�
<br /> ',``;1< � � .`�. '?,� 3. A�pliration ot Payment9. All payments under Paragnphs 1 an�2 shall be applied 6y Lender as follows: . �••'�'
<br /> ``"`;•" � �; . to the m e insurance remium w 6e aid b Lender to the or to the m the '�'�' E
<br /> ,: - - -- - ��. o�� P P Y Sec�etarY aaililY ch�8e bY • , _ ;_'!�`',�` < .
<br /> � • '' Secre�jr instead of the monlhly martgage insurance pcemium; ' -:'r'.-
<br /> ;." '�•. �'` SECOND-w any taxes,special assess�stenu.Ieasehold payments or groured rents,and fiie,�fTc�rii�other ha�ard . ` , . . ��. �
<br /> . ��r �s. � � �
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<br /> insurancepre asrequi �-�i_' . ,., .,. ,:�
<br /> ' ��i��r � e� � ' THiRD.to inteiest d�te under the Naee: •�: . -, ! - ' c4n'; ,�f .
<br /> � � t� ��'E•�� r .•�;�{� FOUR'fH:to antorti�tion of the ptitteipaI of dr�i�"et�«: , ,f. ;�
<br /> ` ,{ylrl�f} ,, ::� F�,�:inte charges due nnder the iV4t's.. . � .
<br /> �<���r� 4. 1�:'i�s.`od and Otiter H�vard C�i���a�wer shall insure ap improXemenu on t�ir Propecty.whether aow � �.���
<br /> , -%`��� , in existen►�:�subsequently erected, . !�t�1�:�3:�:.�asualties,w3 contingencies,inciucEur�.fi_�.for which LeadeF `. 4�' '�
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<br /> ��s',. . ' •- �, ,"f. ' ,` reqnines i�i�ce. Ttus insumnoe shai�cz:ri��n7i33:m��e arrcaunts�id for the periods thai E�i requiies. Borrower � . `�'�;;' > :-
<br /> `%' `shaU a1so iAsiue all impmvements on the Property.ai�a�iec now in existence or subsequentty erected.against tass by flaods y "'. 44{' �'
<br /> f,•� r..�;
<br /> -�-- �-- � -- ��,':t�i:r�e extent requued 6y the Secretary: All ins�nce�;�lraji be c�ied�vith companies approved by Lender. 'R►e insurance ,•;;-:.•- •°_:��. : .
<br /> ; '�.� j�iicies and any ienewals shall be held 6y I.ender ard shall inclade loss payab1e clauses in favor of.and in a form • - <,,:; ��'
<br /> z�cceptabla to.i.ender. ':
<br /> .� , � In the evenl of 1oss,Borrower shall give Lender immediatc notice hy mail. Lender may ps:�ke pmof of toss if not ': �,
<br /> , �-- � � � � made promptly by Borrower. Each insuiance company wncemed is hereby authorized aad ditectx:d to make payment for •' ;: �,y j�_
<br /> ' '�,;_ : :f.;; such loss d�ly to l.ender.irutead of to Borrower and to Lender joindy. AII or any past of the insurance proceeds may be :�; �; ..•.:.. ���w;
<br /> - �� � ,5�,�•� �: applied by Lettder.at its aption.either(a)to the reduction of the indebtedness undertfn:`�ote and this Security iit�irument. }st;t;; �, �
<br /> : ,�A�:���,.,s��,;1;:•. fust w any delinquem amaw�ts apptied in the order in Paragraph'3,and then to pr�su�cnrnt of principal.or(b)to the ;'y��a"}!, ���. ' �
<br /> <<,:��.�;�,���`�,:;);" ..... . mstoration or r�pair of the d�naged pmperty. My application of the proceeds to ct`.e:�sriiu:�gat s!zall not extgnd or postpone r.r:%�,'rt!, .. , :`'.;;; -
<br /> : % � the due d�e a�the monthly paymenu which are refemed to in P�ragraph 2,or ch�ti�zria+7tr:i�f:such payments. Any. � , ('��` ! +,; < <-_
<br />_��r;- � ' ` : . .: ea�xss in�snr�pmoeeds over an amount requirecl to pay al!ouc�dang indebtecl�ress undPr-�Jr+:�Note and this Securi ��
<br /> � � . , ,:.. ry - . [:�
<br /> ! � : �� InstrumerTL'a��1T.be paid to the entity legalty enhtled ther�tu. `. . . - � •,�
<br /> ;:...".',:�;;.:. � '_.,.• � In�e;�:L�t of fotecEnsure of this Security In�tnimr�a or other transfer of titte to the Prapeny that extinguishes the • . . :�:.'_
<br /> . . iia�te�e^�a all right.title and interest of Borrawerin��fi1u insurance pulicies in#��r~`e shall pa�c ta the purchaser. . %r:ar-
<br /> ��:;. .• , $. .(�Pancq, Prescrvatlo�a, Mpintenance sua��Protection of the PrdpESty;Sonower's Loan Appllcat�on: . ._ -
<br /> ' � • �LeaseP�¢tGc�;. �orrower shall occupy.establish,anb usa the Ptopetty as Borrow�er's pnncipal R.sidence within siaty days • . • .��
<br /> eP¢ .
<br /> - . � - . � � after the e�,�tion of this Security lnswment and shall continue to c�cupy thE Property as Boysn�er's Qrincipal residence , � . � r••°.
<br /> � ' � far at leastQme year afterthe date of occupancy,uniess the Secretary deteimin�,this,�ujuirement w�ill cause undae hardship . �. `
<br /> :,,::,;1�;;.;4.,� , .°or Boirower. or un less.+.at�f�uating circumstances exist which are beyond Boiti;�v*:r:s control. Borrower shall notify �„ � � •. �
<br /> '�'�s�'��(i�:� � Lenders of an eatenu�tin}.cii�umstances. Bonower�iall not commit waste'or d��tray,damage or substantialSy change ' i,;;+
<br /> � ` `�`�{�:��!' , ' t he P r o p e rt y or a l I o w t h e P c o�e n y t o d e t e ri o r a t e.re a s o n a b l e w e a r a n d t e az e x c e e r i:..L e n d e r m a ms e c t t h e P t a if the � ���'i�;��i. ' � : , -
<br /> � ' ' '" Property is vacant or abandoned or the laan is in default. Lender ma take rea oirat�le action to ro ect and r.�e�rve such. �'�'S'•�"` _
<br /> ,�; • . • Y P P ��;�,,%t,;�;� . :
<br /> ; ��; .' ; '� vacant or abandoned Properry. Borrowet shall also be in default if Borrower,d�uing the Ioan application pmcess,gave j•,�,,'�,�, �
<br /> . :• • , , materialty false or inaccumte infotmation or statements to Lender (or failed to provide Lender with ssty material '"'�. '
<br /> . ' :.J�•;�_��. . � , znfomiation)in connection with ihe loan evidenced by the Note.including.but noe timited to,representauori5 crssceming 1'• ;;�'`.•
<br /> ' t`'' � ,' .8otrower�accupancy of iht Propeny as a yrincipal residenoe. If this Sewnty Instrumem is on a leasehold.Iirnrutaer shuU
<br /> ;�, `;,.r.;� ` . .... I ,
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<br /> ; ,.,,;r,;.��,• � comply with the pmvisions of the tease. If Borrower ac�uires fee title ta the Properiy.the leasehotd and Cee�it1e shalt not
<br /> ' • i4' ' 6e merged uniess L.endet agrees ta the merger in writing. I �
<br /> _.,,,, ,.',•,,. . •-
<br /> `�"'' � • � 6. Ct�c�to Borr�Rer and Protect�on ot Leader's Rights ies the Property: Botroaer shall pay all govemmcnlal � s
<br />���'; : ; ,
<br />�,;1�!'' ,_, or munici al c .fine.,and im ositions that ute not included in P�ra h 2. Boirow•er sh�ll a these obfi ations on ,
<br /> 1.�,:�'. P �� P S�P P Y &
<br /> F � •.+t����' time ditmcdy to the errtiaj which is ou•ed�tte payment. If failure to pay woutd adversely affect Lender's interest in the � ��••
<br /> , r:.,{�•,�, . '
<br /> �j�'�� l+�' Property.upon Ixnder:s request Borrouer shsill pcomptly fumish to Lertder rcceipcti cwidenemg these payments. i �n
<br /> ' ���,�,�r�"��r� lf Boanwer fails ro mnke these payments or the payments required 6y Wsrngaph 2,or faits to perform any ather ' •
<br /> -�•: �.-�; � covennnts and agieemerts cantained in this Sccurity�nswmeni.or there is a le�l proceedin�that may s�gnificantly affect �
<br /> . . Lender's rights in the Prope�ty(such as a pmceeding in 6ankruptcy.for condemnatiun or to enfo�taws or regulations). t•
<br /> � ` � � , thCn l.edtter tn�y d0 and Qay wtiatever is necessary to protect the value ot the Propeny and Lertder's rights in the PtopeAy. ; •
<br /> _ �•1 �': .'.:', �',��,� .��� includin8 Pa5'ment of taaes.hazard iasurance artd othe►rtems mentioned in Paragtaph 2. ' ,�
<br /> �• � ' , • . Any ffinaunu disbmsed by Lender under this Psmgraph shall become an additionil debt vf Berrower and br secund ?
<br /> �'' • � � 6y t6is Security Insuttmenl. 7'hcse amounu shall M.ar interest from the date of disburserttem,at�Ae lYote rate.and at thc . .
<br /> �:� '-, , . - ophon of l.end4r.shall be immediatety d�ce and payablr. F ` . ,
<br /> ` ..� . . : 7. Condemnatiom The proceeds.of any award or ctaim for damages,,direct or concequential,in connection a•ith any� . .
<br /> '�,` • �ution or other takieg of any patt of the Propeny.or for con��ey�ance in pfarc of mndemnation.are hereb?assigned „
<br /> . � � and shall b�paid Lo Lertdel to the estent of the fi�ll amount nf the indebtedness that remairss unPaid under the Notr and th�s
<br /> Serurity lncwment Leader sriall apply sucb psaceeds to the r�duction of thc indebtedRess under the Kute and this Srcurity .
<br /> �.°; . ' , Insu�unent, fust to any de�' quent amannu appl�ed in the order provided in P.uagraph 3.and then to prcp�}�rtrent of .
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