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<br />- �fi.. " �«sc�trt'£.;°. ' ` � :.s` ,. `. ' ___
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<br />`r +;i`��"'���r-''''�-�'°�� ` Lst�Chas Barrowershaft a �Yh�.a �F�fg�a��f.'�tere�to:�, _ , ��Y Y-=
<br /> ��:::�... _: i. ���►��sr��,���c�� � a r . � —
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<br /> .;„t:-,:-;,.. - _'i� . the debt�videnced hy tbe Ptot�aud tate ctmrges due t�nde�tttas Note.
<br /> ' `�;�;__,,_.;�,:_=` 2. Monthl9 P?7��a4'�es,Iasnrea��e�ci Otlter.Cha�es. Bomoever sdalt Inctudc is�cuch mOn�hly paytnent,-
<br /> �e,=-����-,_.. ,�, tag�wi�ttce pru�cipai aad intetest as set forti�in th�Note sind sny lnta rha�es,cut ins3�llrmnt ot etty(s)taxas und �
<br /> `�`�" �.�;�:;#. speciai ass�essmsnts teviced or w be tevxed against thg I�rcpeirty.(b)IepsehoId p�aymeata Ar 8raund rents on the lfiaye�ty:and
<br /> ; _`'����'_'�� (c)piemtums far iasuraace seq�red by�aragraph 4. � � . . - -._---
<br />_ .'°;� ' Each mombiy ibstaWnent far items {a).(Ir)and�(ck shail eguai ane-iweifth of the w�nual amaunta,a�rea.tonabIy =-____—
<br /> � ;`L- � �. ,_°.:�`�`< estimated by Lender.plus.aa.emount�uffccient w.mainta'sn an uddit�unat balanca of not mo�ro than aste•siath of the =---_
<br /> �� -` _ estimated affio�mts. 1i�e fiill aanual-amouns for eaCb item sbnt!ba accumulute.cf Uy l.ender withl�a perind en�ins one • �� - --_--.
<br /> - '� . -�-• -- r��sef��i��� ��dalinnFinn ,E„endca sh�l tho l d.�amnwus co l l e ct e d i�c�ust�o pay item9(o�,(b)nnd _
<br /> .. t f. � �` (c)befora they 6ecome de�ent. . . � � - . - . - , `� -
<br /> 4 If at any time the totat of the payments held try Lender for items(n).(b)ar�tC).togcthc�ai�t►t�'ee futate manthly � E Ln> _ --..
<br />_ pa�ments far s�cb items payable to Leader pnor ta the fite dates of such ite�n�.exceed9 by more t�Ytvt anr-sl�th the .� ;;:__- -
<br /> _ �">�° es�iza�cl amoum of gayments iequired topay such items when due.azW if pu ents oa Mc Note arC canent�Ihen Lcrttier - --__- -_-
<br /> - :h�:�'�:��. ... ___ --
<br /> - - �� si��r refund t�e excess over oae-sixtt►o€�he estimated Fayments or�the excess ovef one-sixih af the estimated =____
<br /> `���,;yf:,^:;�;;",: pa��ts cb s�;eat payacents by Boaower,at tlie option af Horcawer. If tk�.tatal af thc p�yments mnde by Bortower � ------___
<br /> - ::��: ;.'�+.;:r - .< . for itasi�a),.f�r�,��.�.is insvflicient m pay tlte ite�n:ahea dae.tIten Bormwet sfltdG ptty w Lender any ntt¢ount nucess�y to -
<br /> make�tt�e�r,aic�oa,o;ise5a�e the date dic it�m becomes d�ce: = ---- -- -
<br /> �4r , ,: � . .� � .Pb's used ra�s���aumem,"Se�etery,•means ttcc 5r.c�etary of tiausing�end Ucban ikveEopment ar hts ar her �,- _ - _
<br /> ,,; �, ,ry "`,_�£ � .1 ,. o w �,a:�tke Lettder must pay a mo �nsutaace mium to ttte Serre .each monthty payment � "� ----- ---_
<br /> d�e. Yn"�.'� RB�� Pre tary �'"�` '-
<br /> • '•��€'.��,,�!,�p;�f�`'Y r> `- ,. sha�also inclui�c�i"��fi�� instaUme�o f t he ann u a t mo�tgpge ins�uance p r�m t u t n t o 6 d �i�i s y L end er to tAe -
<br />' ` ��`�s�''�r�� :.• S�t�ry,or(ii'•�a��t�ly cl�azge instead of a mortgage insurauce pmtnium if this Security tns�t�ent is held by the =
<br /> � ,�F' � S�etary. Fac�a��a�Y installm e n t o f t h e m o rtgag e uisurance premfum sha}!be in an astount sufficiet�i to accumnlate the - _ ___
<br /> ' `.��r, �' ' fisD•annual mo�s�;�insuiance p�emium with Lender one month prlor ta the date the full annual;rt�rtgage Insuruttcv _ __
<br /> . y,;�.;mr-�?r,.�;_�t� t ' -
<br /> ' � �_� :,, p�mi�rmm is duesat�e'Sec�e�acy;or if ttns Securi y_Inshumen[is held b�r the Secretary.each montlily charge sh�ii be�in an �, d
<br /> � ���� . .:,Jt� �,f'4`,, '•. � ` �roi�t equal to on�toye�m.'`�+?.."-half peneat of the outstan�iitg principal b�lance due on the Noie. , � �,i _- __
<br />� �::. ,;:� ;.`, r� .� :.. � .::• .;•7f Bormaer tendets't�:��r the full nt of a11 sums secured by this Securi instcumen�Borrower s accour�t - -
<br /> • .- `' �p�.F;.,,.`. . .s1ia�•6e�re,dited-with the�L���:e-temaining��1-iastaUments for.items.(a).-(b).ana(� - o�s�s�.- --------- ---......__ - -- --
<br /> d.nny Jn insurFU�co ..��.ro-V
<br /> :�?``F� � premivai instal}meat that Lend'e�h�not became obligated to pay ro.the 5eccetary.anA r shull promp y refurid nny _��� - ---
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<br /> ,_..,;,�'`>,:.:s:.-+ .:.i:`'.�'�; excess funds to Borrower. Tmn�ediately prior to a foreclosure sale of the Properry or its acquis'irion by Lender.Boerowetb ,_�L;,�.�:_r=�--- --
<br /> ,lx,r r .�_ • account shall be credited wi"�h s�y balance remaining for all inssallu�eats for items(a).(b)and(c).
<br /> r�Y�'; ' 3. Applicatton of P�y�ti�its. All payments under Pasagtaphs 1 and 2 shall he spplIed by Lender as foltows: �„�x„w..
<br /> , ,-r� ,...�.. - �- -
<br /> ;___:'�: :;.���,�• ;. �.;. ' � F I R S T.t o t h e m o rt g a g�:.a.s 3 r a n c e p r e m i�m t t o b e p a i d b y L e n d e r t o t h e Se�:r e t a ry or to the monthi y char ge b y the _
<br /> • f.je�. �jl.l}�'���•. .• 1 s� - .�� — :�
<br /> ' j}�, Seccetary instead of the��.nnthly mortgage insurance premiiun: - _ °'���3�*-=m
<br /> ��' S E C O N D.t fl a n y t a�c e s,s p e c ial assessmenu,leasehold pa y ments or giound rents,and fice.flaad and other hauud �"�'�'�'��"
<br /> _�}. `��',:,. , • • ` � �ins�nanceps�rat�ns.as reyuired; . ' • •��`,'
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<br /> • �.� TH(RD•to i�st du,e�r the Note; , r�x''',��'-
<br /> ,i:,;; ,, :" , �OL�,to amofliza�i�n�fthe principal of the Note; ,,��� �;
<br /> .�t�,r�,,,;.....:'. P'�,to late charge's��i::".der the Note. . ':?•. �'
<br /> ' �'`;�`i:...',� :� • 4. �re,F[oad and OcDS�1�azard Insurance. Borrowcr shall insure alt improvemenu on the ProQeny.whether naw ,. ; ;:
<br /> � �r ..'.,_ in existence or subsequently e:��,:.ed,against any hazards,casualGos,and contingencies. including fire, for which Lender �- � � ;y,
<br /> :� ; . m,qnires insurance. This�nswance shall be mainta�ned in the amounts and�for the periods th�t Lender reqaires. Botrower ::'�' .
<br /> •. i� , � shall also insur�e all impmvemenu on the Proprtty.whether naw in existence or subsequentiy emcted,against loss by fluads ;`��
<br /> ° � . °tty ,�.
<br /> � { ';�;;�;'t��,.,:,.-•.��". to the extent required by the Secnetary. All insurance sha11 be carried wittl wmpanies approved by.Lender. 71�e.in.gurisstce . ., ,.;•� �c:�
<br /> policies and any renewals shall be held by Lender and shnll include lo.ss payable clauses in favor of,ond in A tonn ' �• r
<br /> , , aoceptable to,Lender. '; ' ,
<br /> . ' � In the event of lc�ss,Borrower shall give l:ender immediate notice by mail. Lender may make proof of loss if r.o1 .. _
<br /> � made promptly by Barrower. Each insurance company concemed is hereby suthorized and�irected to make payment for � . . '•��'
<br /> � . . such loss direcctg to Lender.instead of to Horrower and to Lender joinily. Aq ar any part of the insivance proceeds may be , "- .� _
<br /> . . applted by Lender.at its option,eit her(a)to t he r e du c tion o f t he in d e b t e d n e s.s u n d e r t h e N o t e a n d t h i s S e c u n ry I n s t r u m e n t. � � '��=�
<br /> fusa to any detinquent amo,utts'.a,plied in the order in Paragraph 3.and then to prepayment of princip�l.or(b)ro the =
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<br /> � nas:ur.a;ion or repau of the dam��e.��mperty. Any application of the proceedc to the prin¢�paf shaq not extend or postpone .
<br /> �` ; � c,°�:lJae date of the monthly�pa�y-ts+�3s whuh are referred to in Paragraph 2,ar change the amount of such payments. Any • . .
<br /> ,t� �. : . �. excess insurance proceeds aves�sr,�s!s�u�L cequind to pay all outstand�ng indebtedness.under the Note and this Security •.
<br /> `�" �' ' Instrument shal)be paid to the en�cy l�ga79y enntled thereto.
<br /> '� • � in the event of foreclosure uf�3s Sec�;sity Instrument or othcr transfcr of title to tha Property that cxtinguishes the
<br /> ; !• � �+��'�' � indebtednes�+.all right,title an�ir�te:est af Borrower in and to insurance policies in force shall pacs to the purch�.ser. ;�;:;�:�,-
<br /> . '• '!;?.:c;;:• �; `
<br /> f � �.,.:.•;. • 5. Occupancy, Presersvauwn, fi6ai�¢enance and Profection of the Property; Borrower's Loan Applicution; . «- ���
<br /> ' • :�r:�'.:'' . I.essehotds. Borrower shaP]oocapy.es!as�sh,And usc the Property as Borrower's principal residence within s�xry daya • . '���_-�
<br /> � . • after the executiop of this SecLrity Znstnr:�er.eand shall continue to accupy the PrapeRy a�Borrower's principal residence . . -�'��•
<br /> `. ' � � ! � for at least one y.�r after the da'te of occ�;�ariry.unless the Secretury detertnines this requirement will a►use undue hatdship ._ . ..
<br /> � � far Borrower. ar�nless ext�:t��ting circusristances exist which arc beyond Borrowcrs contrab Borrower shall notify , .
<br /> Lenders of any extenuating zirov:nstances. Borrower shall not commit wacte or desiroy,damagc or substantialiy change •
<br /> •;t,.: ' � �r+e�operty or allow the Pe�c�perty t�deieriorate,reasonable wear and tear excep:ed: I..ender may inspect the PropeAy iP the • . �
<br /> i • `�,`; � �peAy is vacant or.abaadaned or the ioah is in defautr. l,ender may tatce rea�nnabtc actinn to protect and prescrvc such , .
<br /> � ' '� � vacant or aba,rec£�!:ed Property. Barmw�r�.hall also be in default if Barrawer.during the lnan �pplication process,gavo
<br /> ` materially �'a�s: �;r inaccurate informa:ior, or statements to Lender (ar failed to pravide Lender with any material • . .
<br /> -`�,�' ; informatio:s��z co*snection with the loar�e�•idenced by the Note,including,hw no[timited t�.�epretientations corteeming • . .
<br /> BOSTOWEf S QC�:i4D&'1C}I Of tFTe Pr��erty as a Qrincipat residencc. If this Security lnstrumcnt is on a leaxchnld,Borrowcr shall •� _
<br /> `'�'`'�� c,a r.�.�S y r��i t l t t he n r o v i s i o n s m f e h e l e a s e. 1 1 B O l t Owef a�qaireti fec titie to the f'ro pert y.the teatiehotd and fce tille�hall 001 e �
<br /> ' ''�����,: 6e m•e*�;��°aniess Lendet a�rees 2o the merger in wri�c�,g. • �
<br /> ���';���; '' • �, CCcaa�¢s!o Burra�,u�sr�nd Prort�cidyn o�P l.eader's Rigfits in the Property. A�►nuwe�shal!pay al!govcmmental , . •
<br /> ��; cror e�::aic:,�at xt�vg.es,fines a:�d:mposi:ico7s.i:a:a�e Ro:"sasl�ded in Paragraph l. Borrou•er�ha11 pay these obligatiunx on � •
<br /> ' ;dl ei�:�;:rec�L;:2�tl�e entity u•hi,h is ow>t31he payme... E6 6ailurc to pay woutd advenety af[ect Lender's intrrest in thc � ' •
<br /> � • Aao�-�y,upo��,ender's requ:�z 8onower s`,alt pror.z?��v€urnisb ta L.cnder rcccipts evidertcing►liese payments.
<br /> '� � � L�Borrower fails to r:�ake these payments or tl:e pagments required by Paragraph 2.on falts ta perform any athcr . . •
<br /> !� c�er:ants and agreements ear,sz'sned in tf::s 5ecurity Tnstru�ent,or there is a tegal praceeding that may'�ignificant{y i+iiect
<br /> `• Lender's righss ln the Propeny(such as a psoceeding in bankruptcy,for candemnation or tn eofotce laws��r regulatiunv).
<br /> ;-„ . • . i then Lender n.ay do and pay whatever i>nacessary tv protect the value of the Prop�rty and Lender's ri�,fits in the I'to�xny, ,
<br /> •.� including payrPnt of t�es,ha�acrd insur:,�:u�d other items mentioned in P.�ragraph 2. F �
<br /> ` ' � Any amounts disbursed�p l.ender uniier this P�sragraph shall became an addmona!'debt nf Banuwcr:md he sccured �� ' ,
<br /> ' `� j b this Securit Instrumertt"�ti_�e amounu shall bear interest from the date vi di.bursement,ac the Natc rate.and at thr ! . . .
<br /> .,R� � ��/� ' � option of I.ender,shall be�na����:ately due and payable. ;
<br /> ' . � .,� . 7. Condemnattom.''4�;�;,:'�ceeds o�f�^.s s►�vsrd or claim for damage4,direct or wnsequential.in cnnnecti�m�vith any , .
<br /> `' '� condemnation os other t:is�c�z cf any p;�7 c�*�-.Property,or for convey.+nce in pluce of condemnatian.ure hereby a�tiigned � .
<br /> ; `` i' '� •'�'��; and shall be}r�3;'c�r I.ert�er ta t�T�s ex:e.cc��rcl,:#'all amount of the indebtedncss ihat remains unpaid undcr�hc Nutc and thiv
<br /> y - Security lnst�:-t. lx�y=r�:'�?aYp���_�as:���roceeds to the reduction of thc indcbtedne�s uttder the Note and thir•5ecurity '
<br /> � :. i. . „ �ns:�ument. �rst to ar:��S�:Ki�Y��i amo::r.:s applied in the ordet provided in P�rragraph 3,and then w prepaymem of i
<br /> =r - = °__-__===. �clpui. Ai�y apQlic��::�r��_':.`�e pracccds ta thc prr.:;pa! shal! not extelu!nr postponc thc duc d�tc rf th� mnmhty ._
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