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<br /> c�q,.� �loS3��► �
<br /> �, p��r��of pti�cJp�t,Ipterert Rnd I.�k Chu'ae. Borrower shall pay witen due thc principal of,nnd imeiest un,
<br /> the debt ev�denCed by tt�e Nate And l�ue char�ea due under the Nate.
<br /> 2..�atW�r pay�nsnts or'Itiutc�,Inewnnce�nd Oth'+'Char�ea. Bormwcr ehall includa dn rach moe►t�ly paYm�a►t,
<br /> to�qhet wid�tht prIqcipal�nd inlAnst�u set faAh in tha I�oto uKl�ny late chuges.sn instAllmenY of any(�)t�ucee+ind
<br /> apec[al assatimente k�9od a to be levled agdnat tbe PropeRY.(b)Ieaeehold p+iynxi►u a ground ntnts on th�Property,and
<br /> (c)i�:a�►;uc.�isfo,i�:urrssccrcquircdby�rR�m+;►1►4. .-.,.-._
<br /> B�ch monthly insi�llment for items i�), ib)�(c)shali ajual aie-twelfth of the annual amounts,u nasonnbiy
<br /> estimated by l.ender, plus �n amount suffictene to mxintsin an sadtdond bal�nce of na more than one•sixth of tbe
<br /> estimued amuunte. The fuU annual amount for cach itsm shali be accumulated by Lender within a per�ad ending one
<br /> month befao u�item waild become delinyueat. Lender eh�ll hold the amouats collected In tn,st co PcY iccros(a)�(b)and
<br /> (c)befa+e tt�ey txcome dotinquea��
<br /> If nt any time the wtal of the pe ta held by Lender for ttems(u),(b)and(c).ta ethe�'with ihe future monthly
<br /> payaxnts far sEich items pay�ble to�r prior to the due dates of auch items.exc�by more thsn on�-sixd►the
<br /> estim�ted amount of pnymenta rec�uirod topay such Items when dik,and if payments on the Not,e aro cuurent,¢�+cn Leades
<br /> shill etther refund thc eacess over one-sixth of the estImated paY►nents or credit the excess over one-sixth of the cstlmatcd
<br /> pnyaxnts to subsequent paymema by Batrawer.at the optIon of Botrower. If tlte total of tho paymenu made by Bonower
<br /> for Item(a),(b).ar(c)is fisufficient to pay tliee item when due,then Barrower shatl pay to Lender any nmount necessary to
<br /> malce up the dofectency on or before the dau the item becames due.
<br /> ps used in th;s Sceur�ty Instsument,"Sxntary"means the Secretary of Housing and U�an Development or his ar her
<br /> desig� �n any year in which tl�e i.ender mustpay a mortgaga insurance premium w the Secretary.each monthfY payment
<br /> sEsnil also taclade either. (i) an inatallmeat of the annual mortgage Insumnce pnmtwn to be paid by Lender to the _
<br /> Setx+etary.or(ii)a monthly charge instead of a mortgage insurence premium if this Security Instrument is tseld by th:,, �
<br /> Seentery. EACh monthly instaUment of the mortgage insutaace premiwn shall be ir►an amount auffictent to accvmulate d�u?
<br /> full annual moxtgage insurance premlum wjth L�ender one montb prior to the dnte the full unnual mortg�ge inaurente
<br /> prem{iun is due w the Secretary:or if t6is Secwiry Instrument is hetd by the Secretary.each monthly charge shuli be in cin, � ,
<br /> emount ec�u�to one-twelfth of one-hatf pertcxnt of the outstanding ptincIpal balanr.e due on the Note,
<br /> If BQraatver tendeis.ttt L.eader tba�u�l paymcnt of all aums aECUrect by this Seeurlry Inst�ument,Bomuw�r�account
<br />� .&hall bo eic,zUis3 wtth the.bala�►ce mrowi�ning for ei11���ents fos items(a).,{b3 und(c)and any mortgage Insuriutcc
<br /> �rremium i�stallment t�ui k�ender has nat become a"�il�2ed co pay to the Secretmry.sutd Lender shall promptly lefund an�
<br /> c
<br /> ex��d$�p Borrovees �tnmediately prlor to u.�aareclosure sale of the Prope►ty or its acqulsition by Lender,: mowet
<br /> aocount shal!'�credite�l�th eny 6alunce remaining far all insu�llmenu for items(a).(b)and(c). .
<br /> hs 1 nnd 2 shall be a Iled by Ixnder as foUows:
<br /> = 3. r1 1ir�Hon of ymenta Atl gayments under Para�rap PP '
<br /> ,to the mortgage insuranoe�►remium ta lae paid by Lender to the Secretary or ro the mnnthly charge by the
<br /> ' Stxretecy inatead o'P�e monthly mortgage�nsuranc�premiwn;
<br /> . �,ro sny",a�tas:speciai essessmeab.iaa��`��13 paym..-ss�ar gsoun:!s�sss.sn�fire.ticw+d and other l�azard
<br /> . �11811L8ACC�1ICIilIilCl^19s�19ceqUI1�: ---
<br /> � �$p,to interes��lna�ui�der the Note; --
<br /> - FUi.J(�fi3,to amort�arian of the pri�cipal of the Note;
<br /> �,to Inte char��due under��e Note.
<br /> 4, Fyre,FMod and Ut6er Ha�rd Iasuraace. Bonowcr shaU insure nll improvements on the Property.whether now _
<br />- in extstenca or subs�u�r3iy erecLed.c�ainst a�ry hazazds•cas�alues�°nd Condngencies,including fire.for which Lender
<br /> requires insurance. 'll�is insurenoe shaU be mn{nteirted in the nmounts und for the periods that l.ender mquin�s. Brnrower
<br /> shall nlso instu+e nll impmvements on the Propeity.whether now in existence or sub5equently ecected.oSninst loss by floods
<br /> tpol��s a�i�d a�nyi mwyals shnll bc held by Lende�tdishall�i cludej oss payable c(aurses inbf or of.nndein nuform
<br /> acceptable W.Lender. -
<br /> In the event of loss.Bosower shnll give Lender immedinte nodce by mail. Lender may make proof of loss if not =
<br /> mnde prumpdy by Botrower. Eech insurance company concemed is hereby authoriud and dtrected to mnlce pnyment for �_
<br /> such loss dirocdy to Ixndar.Instead of to Bonower and to Lender joindy. All or any psut of the insurunce proceeds muy be -w�
<br /> appAed by Ltisder.at its opilon,either(n)w the teductlon of the indebtedness under the Note and this Secunty Instiumen� �"`�.
<br /> first to c�ny delinquent amonnts applied in the order in Pnragcaph 3.nnd then to prepaymertt of princip�l. ar(b)to the �� -
<br /> restorati�or repair of the damaged pmpertY• At►Y aPP�ication of the proceeds to the pnncipal sh311 not exrend or pascpone ��-_:_
<br /> the d�ce dete of the montlily payments which ere refen+ed to in Paragc►ph 2.or change the umount of such psrymenu. My __
<br /> eacess insurance pmceeds over an amount required co pay uU outsuindmg indebtedness under the Note and thts Security
<br /> -- [n s u u m e n t s h s�U b e p a id to the enttty le gall y enatle�thereto. �,:=
<br /> In the event of foreclosure of this Securiry Insuument or other uansfer of tide to the Pmperty t hat extinguis hes t he �_��
<br /> indebtedness.all righ�tldo and interest of Bomower in and to insuranoe policies in force shall pass to the purchaser. --
<br /> - 5. O a cupancyS P r e s e r v 4 t E o i�, M a i n t e n w n c e e�n d Protection ot the Propertyi �*rower's l.oan Appticatton; -
<br /> i,easeholds. Bomower shaU occupy.establish,and use the Property as Borrower's principal residence within sfaty dsrys
<br /> after the execudon of this Sesurlty Instrument nnd shali condnue to occupy the Property i+s Borrowerk PcinciPal residence
<br /> for at least one year aRer the dete of occupancy,unless the Seccptary detennmes this r�qwrement wjll cause wedue haidship .
<br /> fbr Bormwer. or unless oatenuatins circunistances exlst which �se beyond Borrower`s control. Borrower shatl noHfy
<br />�� Lendets of any extenuating clrc►�nstances. Bomower shall nut commit waste or desu+oy.damage or subswntielly change
<br /> - the propetty or allow the Property to deteriorate,reasonuble wear und tear excep.ed. Lender may�nspect the Property if the
<br /> °-- pnnperty Is vecant or absmdoned or the loan is in defaolG Lender may take m,�sonable uct�on to pmtect and presen�e such
<br /> = vtuant or abandoned[tc�erty Bomower shull also be in default if Borrower.during the loan applicution process.gave
<br /> msittariall false or in�ootuate information or atatements to Lender (or failed to provide ixnder with any matennl
<br /> m p
<br /> -- informnutton)in conn�etion wlth the luan evidertced by the Note,including,but noi limited to.representudons concemm�
<br /> - gotrawcr's occupsuscy of the Property as a principal residence. If this Secunty inswment is on a lensehold.Bomower sh�11 ,
<br /> wm�1y wlth the provisions of the lease. If Bomower acquires fee¢ide to the Prope�ty.the teasehold und fee dde shall noi
<br /> be merged unless Lxnder ngFees to the mer�er in wridng.
<br /> - 6. Char�es'to Borrower and I'rotecNon o!Leeder's Rtghts in the Prap�rty Borrower shull pay all govemmenutl
<br /> -- or mvnicipal charQes.6nes and imposltions that cire not included in Paragraph 2. �orrower sholl pay diese obl�gurions on
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