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<br />—v'� < ° � !. ��aient aY�r[nctpal.dateresE aa�I.�te CGarge. �oriower s�tai2 pay wh.n due the priacIpai of,and interest an. . --
<br /> =- th�debtavcdenoed tyr the Nate and late charges du�uitder the Note. _ . ' . .
<br /> - 2. MonffiIy paymenta of 1�ce�InsusnQOe�nd Otia�r Charges. �orrower s�ali include in eac6 moathly payane�u.
<br /> - ¢ogethef witb the priixipal and rnterest es set forth ia the Note,and any late ctt�rg�.e?�IItisstallmen�af any fe)taxes and .
<br />_ �- �
<br />- - - �� spz�al asse�me�s ievie�pr to 6'e tevied a,ga�st tlYe p7og�ty.(6)lea�eYto2d payrtceni�or gcauad rertts oa th�A�perty,amd , . _____
<br />� ,F:��~f'' _`r�:_�`.._ '� (cZ premi�s for insatance reqnired by Fatagt'aph 4. . ' , --
<br />_ _;� .,;�```�, � Ear.� mantlily instalt�nem for item�(a):(b)aad(c)shall e�ual one-tvrelRh of the annual emmmts.as reasona6Ty =__._-_-
<br /> : :� � = � �stimat� �y Lander,.glus<an�ount sufficient ta mainmin an additianal batance oi nos more d�aa oae-sixtb of the. . __,
<br /> : ,�� �_ � .estimafed amounts.-The fnll annual azcrount for each item s5all be accumulated by I:eader�rithin e,perIad end'ing one �= _ _ -_
<br /> ��; - momh 6efare_an item woutd 6ecome delitiqueaL Le�det si�all hold the smaunts coitected in trust w pay items(a),(6)a.ad. --
<br /> : `'',�.:,;;,�;'.?;,, '., �.�:: . ' �(c)befo�e they become delinquenL ., -___
<br />- :;:7;�:�.;�:•:°'�•���-:..:.�-� • If at any time the totat uf she payments hetd by Lender for items Ce).(b)and{c).to$ether with the fuutte manth4y =-- -_--_---
<br /> _ "'�� ° :�-:". paymeats for such items payable to Leuder prior to the'dus dates of.suc6 items,exceeds by more than one-sixth th� _
<br /> `, . �;`•-- �ted amau�of paymeats requaed to pay such iterns when due,aa�d if pay� ts on tlie Nqte ane carrerit��thaa I.entt�r� - --_ - -------
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<br /> �:•'•`: -' �..��:- • •r��•�`' sT�eitber refu¢d tfie excess o*rcroAe-si�h of the es6mate3 paya�ts or.credst the,excess Qver oae-sixth of th�esoimasod -=_=__—===�
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<br /> ° .``; ; pay�ucnty to subsequent pay�Fits by.BoaawCT,at tiie op�OA�AS;Bwravrer. If thP tatal�tI�paymenu made by,Btmo�es: ,�..,��„�:_�v�.==::_---
<br /> , ''�,v::'�•`�;�;;�;.�c�:1��;i;;i':;`.' � for i�m(a).(b).ar(c)is inse�cieuL to pay the item whea d+b�e:Jtletr Borrower shall pay tu Let�+der aay amo�mt uecessary,to -�~:���_,-
<br /> �: f ,Y=�,: •. make np the defciency an or before tfne date the itein becoaxs dcte.. �"�` �. - _
<br /> .F .. ,�: f As ased in this Security Instiument, Sec�etacy means the Secretauy of Housing aad Urban Aevelapment or h's or her ��- '�`�t�
<br /> ;� :s_,� � �.:_. :,- •; designee. In any year in a�ch tl�e Lender mast pay a arostgage insurance premium to the Secreuuy,each montl�IY PaYraent �.� _-
<br /> a , ., 4 - . s�all atso include eith . �' — -
<br /> e�t ��..an instaWnent of ihe annual inortgage inswance preanium to be paid by Lender to the _
<br /> : � � s;,::S�cetar�r, or(ri)a ma�'x:�a`�arge instead of a martgage insurance pre�ium J thia Security Instmment is t�.by the � --
<br /> . z �tdry.•:�},montt�y�7men!of tiie mortgage inswance premi�nn shalt b�in an arnowtt suffccient to a��A�y.,y�{µ{j}��y s�the ^"'r` '` -"."` -
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<br /> < � • �?�9rinnaT�st�z�age htsw'�tce�emium with Lender one month prior to the.date the fult aunual mortgage.2�a'ance.. ^
<br /> �� � � •
<br /> ,. _ : �:�`;';::. .plemiu�zs t�±�,��e ,or jf this Security Instniment is heFd�,the Secretary,each montlily chuge shatl�be m an�•. � ' �°" �
<br /> -��+ _..__:� ;�`.;,., . . . _amo�mt.equ�`�':�afiie} �f one-half_percent o£the ctutstanding pi�albz�attre_c�ue.on She.�Q��.;;--.. ------- _� , __ � _--
<br /> If BoTrower teaders�>�:�.ender the full payment of aU sums secured by t2�is 5ecurity Insts�n��ib Borrower's accowit � i,�, �_ --
<br /> .�' �: � shall be ciedited with�ie:�ance remaining far ali iasallmenu for itenu {a), (t�y;,a�d(c)ar.d etiy mortgage insurauce ��+� = - -
<br /> - ' �:;:.�;�•: , , `. pre�nium installment tha,'�,�rarder has not became obl:��to pay to the Secretary,;�3.�:l,ender's1iaU prompdy refund any +��=�,:�:�::,-
<br /> ..:�, �� ' excess funds to Borrower'Immediately prior ta a fores�cu-ute sate of the Property os�irs acqui�',sa�n�y Leader,Boimwer�s ���`4:�,a�, -----
<br /> �. �,,:.: i account shap be+er+adited with any balance r�nidg foF��s�llments for items(a),(6)and(�i:;7�.; LL.
<br /> f•• - 3.A� '.�ia�ion of Peymentg. All payinents undet 1�-F.�aphs I and 2�&all be apglied by Le3c�..°r as follows:
<br /> `#� � � �+ , FIRS�to th�e mortgage insutance prezru.arn to be p�i�by Lender to the 3ecretary.or to the monthly charge by the � ' L, ti�-
<br /> " . '' _� Secretary iasiead of���ontlily mortgage insur...-ra�nium; ::.:.� ; � ., . � '-'� `�, ., :' •,
<br /> • .. •,�sECOND•w any taxes.,special assessments,lras;aci�1�ayments or ground r�emis;and fue,flood and other Ita?a�,� ',,��'�%rf`, �; �.t,
<br /> ; :, u�s�..-���r�iur�s:as:equimd; . �e ` �
<br /> ��" � � . • -. . .� • Y� �;i�*:�iteiestci�.�s'undertheNote; �' . .� � `, �
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<br /> _;��,. �*{rf ' • r` '�;�3 amorti�on of the princi�al of the Note: � ' :.°, ' '
<br /> '�, t,�` i `:''.::L.. .•, r �to�ate cfiarges due under the l�ote. ; :`.� yir��� �`.��
<br /> 4..Fic�Ftaad aad�er HazaM Insurance. Borrower shall ir.s�m all improvemeats on the Property.w�fier now � _��is-1� �,
<br /> � . ' " . " , in eaistertce or subseqaendy erected,against any ha7ards,casuataes,and commgern:iea,includin$fire,for�iaic�Lender ,t�':;`�'�':.. �`.•
<br /> . _ .___ ._ _ • •�equires insurance. This insurance shall be maintained in the amounrs and for the periods that I.ertder requires. Borrower �`°t. :�'��
<br /> ^` � ' ' shalt also in.sure all impmvemenu on the Property,whether now in exik�nce or subsequently erec�d:agau�st loss by floods • ,,�
<br /> k � • : ;. ��.F• to the extent re�qimd by the Secretary. All insurance shall be carri�u•a�'�mmpanies approved 6y Lender. The insuraace �:.;�
<br /> ° �;'::,.;�`.' �•' policies and.a:-ry renewals shall be held by Lender and shal! inc[a�e Ioss payab2e clauses in favor of, and in a form ,
<br /> � , . ,:..;.;:.: acceptableto.l.ender. ` �'.:.,,.
<br /> � `. ' �� ' ` In the event of loss,Boaower shall give Lender immediate rtetice by mail. Lender may make proof of tass if not " � `'�' '
<br /> . �:..::�' ••>;:. ,.:';; � �. :�;; �"
<br /> ' ;: r;:.�,- • cs�e pmmptly by Bomowes. Each insurance compsury coucecacd is hereby authorized and directed to make pajznent for � .,• --
<br /> ��;'_ .-�.'>�;�`-i�'�'�• -- " s��c�a�oss di.-� to l.ender,instead of to Borrower and to ixnder joir.:Sy. A16 or any part of the insurance proceeds may be �'� �-
<br /> "'�'•' i . �� Sied b e,r,at iu o dan either a to the reduction of the indebta�xss under the Note and�Iiis Secun Instrument,;•• •, �����—�
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<br /> .,, y;:;��.,"-' ••,,. : ;+ fersT to asiy de;;isi�ent amounts applied in the order in Paragraph 3.�thcn to prepayment oE principal.or(ts)to tl:e •.. . `..
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<br /> `��•.��!' ��• �`�' � 3zstara6on�r.r•t�air of the�:;,.�aged property. Any apgticarion of the praceeds to the principal shall not extend or 3xastpoae ,� � .• ,� ,��-
<br /> ,� . . . ,• - r'� �.' ��;';:�.
<br /> -- "i ''��� ¢�due date of the monch2�� � ments which are referre��o in P�ra a h 2,or cha�+• the amount af such a e�. An �`.%"-�
<br /> . - ",'�;�±��i:..' • . . , iP»Y �P. � P Ym Y ••� ,�t;;,r. �,,�.;�,,r.s+� , :_
<br /> excess insurdr.�e pmceeds oaer an amount required to p��all outstanding indebte.�r•.;ss under the Note and tlis Security ,'�,�
<br /> • . Inswment sra;l be paid to the entity legally entitled thereto. ,�';� {���'��'
<br /> � • In the etie:t of forectosure of this Securiry Insuument or other transfer of titte to the Property that extinguishes the �'i�! �f,��;},
<br /> ' indebtedness,�i[righ�title and interest of Borrower in and to insurance policies in force shail pass�the purchaser. � : �;;�i;;��;'�'{�,r?;�-
<br /> � � � 5. Ocw�pancy, PreservatFon, Maintenance and Protection,of.t�e Property; Borraxgc's Loan Appliptton; �._;;,:;..!.�',;�.;�,.
<br /> _ ' �,raseholds. Borrower shall occupy.establish.and use the Property as Borrower's pnncipal msidence within,sixty days � �
<br /> ' � EEt�.�the execution of this Security Inswment and shalt continue to occupy the Ptaperty ac Botrower's princi�al ec�sidence • •� •• � �`' S�:
<br /> ' �� � • • • ffc�at least one year after the date of occupancy.unless the Secretary detesmines this requirement a�.t cause u:��ardship . • ' � •��•
<br /> • for Boaowee�az unless extenuating circurristances exist which are C�}ond Borrower's• controi_ Borrower shall noi': .. . •,'�•;�.:, _ .
<br /> , ' Lendets aE�:Fx:enuating circumstances. Borrower shall nat comm�c�:aste or destray.damage'or substantially chatt„e , •, ;'ilf,• :
<br /> • ' t�*�x Propet.5•ar�:low the Property to deteriorate,reasonable wear and t��r excepted. Lender may inspect the Ptoperty if the � `,r���' .'
<br /> ' '.,;:j�;`;;: .,'� 1�7��erty�s'sacant or abz.�3s�ed ur the loan is in default. Lender may take reasonable action tu,protect anJ preserve such .��;;';;?, ` � � '
<br /> ...,t:.�, ., , �� i�g.`.� .� ..
<br /> , , a;�cti....ar aba:�doned Prope'ty. Borrower shall also he��default if Borrower.during the toan application process.gave ,��:,; , ;
<br /> "��` � � �;�•�•� � ' ��...r:a�i fa;�e or inaccurate �nformation or stat��cne,�s to l.ender (or failed to provide I.ender with any material � ''
<br /> �. , ��`' Y i '''�;' ''•.,:F;,. •
<br /> � ' ,•� ir:�o.^^:a�^,n. ;+iw eonnection with�he loan e-�idercea'.c;y,ti:e Note,i�c8.�9ng,but not limited te,r.:�c:sentations conceming • ,�.••��
<br /> � - ' ;i Bor.a�a��s caw^�;r;�ancy of the Propeny at t�ry�riaci�i resywence. IB�i:i::��arity Instrumcnt is on a feasehold.Borrower shall . . ��' '� � `
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<br /> � •����:�� cotr.^!� s��:�i afi� rovisions of the lease. �G B�cr_aW-A�2c l:r:a i'u t;':;:tu the Pro crt the lease;oid�td fec title shali not " � �``•i"'.•i,
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<br /> �'� ' ' 6e w►:erge�x.:ess Lender agreec to the merger in wrr=^'- . ��r,'s,,,,;; ,';' ,'•;,�..:'.
<br /> ��'� � 6. Chstrges to Borrower and protection o!i,��,a"s�.ts�m.¢I�a Propeo4.Y•.. Borrower shull pay all govemmental ;:;��:;',�•;.•. -
<br /> . � � or rt�unicipal charges,fines and impositions that are�:Rat�:r..,:Cr_�LL,:.�;n�rsrsaph Z. �o:rower shall pay these obligutions on ' ,'�,�-�:� ;;;,
<br /> ri�i►e directly to the entiry whieh is owed the paymenE. �I�ti�i?ua:•to Qay would advcrsely affect i.endcr's intemst in the ' � �.•�'r''' :
<br /> �;,� • " , . Properry,upen Lender's mquest Borrower shall pmmptly fLm:ish cu•Cr:r�nr receipts evidencing these payments. � •, .
<br /> � �t • lf Borrower fails[o maice these payments or the payc:ients rer�u;rsd by Pt+reFraph 2,or fails to perfonn any other '��
<br /> covenants and agreements contained in this Security Instrunient,or there is a 1ega1 pruc�eding that may signifieantly affect
<br /> � Lender's rights in the Property(such ay a proceeding in bunktuptcy,for condemnation or to enforce laws or regututions),
<br /> ��� r� • thcn Lender may do and pay whatever is necessary to protect the vuluc of the Property;utd Lender's tiRhts in the P'roperty, ' •
<br /> � '' � � '� inctuding payment of taxes,hazard insurance and other�temy rt�cntianed in Paragraph 2. �
<br /> :'��: An}r amounts disbvrsed by Lertdcr urtdcr this Paragraph shull'become an additional debt of Borrower and be secured .
<br /> • �;c � •. � by this Security InsUumcnt. Thesc amounts shall bear inter�eat from�hc date of di.bursement.at the 1Vote rate,and at the ' �
<br /> � • . , � option of Lender.shall be immediately due and payable. ` "
<br /> � � ��' . •� 7. Candemnatioa. The proceeds of any award or claim for damuges,direct or wnsequential,in connection witA any .
<br /> ' ' � condemnation or other taking of any part of the PiropeRy,or far conveyunce in ptace of rondemnation,are hereby assi�ned ` �
<br /> : �� '• and shall be paid to Lender to the extent of the full amount of the indebtedness that remains unpaid under the Note and this �
<br /> � � -r----�---•-=��=��`__:• 5ec�riity Irtsirument. Lender shal!apply such pmceed�t��the redur�ion oi'the indeStertne�c i�nder the Note and thic Sec�irity !.:.
<br /> -.... �._—.,, , -. . ..._ . .
<br /> ,� • t, lnstrument. first to any delinyuent amounis applied in the prdcr provided in Parrgraph 3, :�nd then to pnpayment of (
<br /> + . • • . .. prirtripal. Any applicntion of the praceeds to thc principal shall not extcnd or Rotlponc thc due date of thc monthly ;
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