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<br /> 1, 1'nymxnt ut Prluc(pAl�Int�tr�G atttl.R.qfq'��r�e• �urtawer xhull pay wiien duc the principal of.And inteiest on.
<br /> the debt evl�enced by tho NMa aatllMO.cltlr�s dt�l.af��r the Note. '
<br /> Z. Moathly p�Ya�eafe ot'[!►x�.t,�tnt�t�+aRAe� �[1tlRer C�, Barower stWi include in esch mont�ly�p�Yment.
<br /> W�etlter with the princi�p�l end int�rau.�4 sc�t.fptttl iht.t�►lt NQte andany late charges.w�insU+ilment of eny(o)tax�t a�d
<br /> _ epecial�aeesnrtxnts lavled a,to ba IaYle�d,�igain�t:the Ptr�ptit�i CWl lauehaki payment�or gcvund rents a►�he Prope�y,�nd ,
<br /> � ---T-- (c)Premiuma far insuranao rcqnira�l bY�d�mf�nph 4..
<br /> B�ch monthly instalimont.fax itamF(�{})��(b)and(c)ahail�ua!otte�tweL'1i1 of U1tJ iu7riW11 �uii0ul�iv.as r.;:�unably
<br /> - esdmatod by Lender, Plus an.�maunt�suf�at to maintain aa addittonal balence oF aot mot+e thir► ane�si�th d die
<br /> estimated amounts. 'It►e+full anmt�l�t►tatiint��'at.each itam shaii be accumulutcd by Lender within a period a�dina ona
<br /> month befam en item would beoama d�ltuqliAnY: ��r shall hal�the amounts collecud in tntst to pay items(A).(b)aad
<br /> (c)befom thay bocomo daUnquent..
<br /> If at any time the totnl Qf�ith��i�,���ment�heM by Lendcr for itcros(a).(b)and (c),tn e��er with the future manrhly
<br /> _ .o_. FaYmenta for such itema payRbla t2�;�►dar�priur ��due daus of such items, ea�R�t mwie than or�-sixth th�a
<br /> -- - esWnated amount of paymeats a�ir�_to ay��suah�itams wken d�e,nnd if pu eata on t4e 4��+te an ci��t,then R.ei#r
<br /> _ -- shell either�cfund tha excesrt t►bR�'!�a�bet�;of�thA�i;rtated paymenta ar�the excess ovor oae•siath of tha estImated
<br /> __ _w�,��'� pAY[tICIIt9 t0 SUE150�]Ll�I1t 11IIy71iQAI��,a7�b1fOR�T�dSi�lA Opt�OQ.OY BOJiOwC! IF tha wEal of the paymonts made by Borrower
<br />� "- for Item(n).(b).or(c)is insuflipittnC�C4 pay tha item when dup,then Bamower shnll pay to Lender any amount necessuy w
<br /> make up tho daflcieaay on or,befom+tha�d�ta thG item ba:omes�due.
<br /> ps used i�t thia Sccur�ty Insttumant,"Secretery°mesns the Secretary of Ha�using and Urbun Development or hie�her
<br /> des1g�a, In i►ny year in whiah th�Lendar must p�y e mo�tgage lnsuranro pcemtum to the Secntsry.each monthtY WY�'►t
<br /> shall alro lncluda aither. ti?�►Inf�aUment of tho artnual mortgagc isisui:mce pr+emtum to bo paid by Lender to the
<br />_ - - - Secrct�y.or(ii1 a mantMy rhAr(�i u►stead of o mottgaga in,ura�e pr�miwn If thEs Stcu:lry Instn�mEet in hetd by�Ge _
<br /> - Secr+ctary. F.�ch manthly lnstnllm�qt,af the mortgugo Insurance p�emium shall bo in�nmount auft3ctent to accumulAU the
<br /> fLll unnu�l mongage insumaoo pt�mium with l.cnder one month pdarr to thc du�e�ha iuli annunl martg�g+o insur�nco
<br /> _ -- - prcmium is duo ta tttu SGCrctnryi ar if thia&ecurity Instrument ix hald by the Secatary,euch monthly chorgo shiq bo in an
<br /> amount eyuwl ta ono•tweiflh of ona•h�if percent of tY�o out�tanding principal b�laece duc un U�Note.
<br /> If Burrnwar tondam to Londar the ILiI pn�+ment of ail Rums�serurcd by�his Security Instniment�Born►vrett►account
<br /> - ehall bo creditts�wJlh thn b�lunoo�muining t'ut ull lnatnllmenlR for itema(ol.lb) and(c)nnd any mortgoga i�isuranc�
<br /> prcmium instullmont that I.endat Hu�nat hecomo oblfgatcd to pay to the Secrctnry. and Lender shull prompUy Nfund any
<br /> oxcess funds ta Bomowar. (mm�dihmiy pdor t�u foreclosur�s xulo of tha Property or itx ncquleitIon by l.cnder.Hmmwerk
<br /> account shall ba creditcd w3th uny bt�llunce remaining for nfl installment�for items(a).(b)und(c).
<br /> j 3. A Iiqtlon ot Paymonta. AIl paymente under Pnragrapha 1 and 2 shal!be applied by Lender us followa:
<br /> , � Fj$�,ta tha ma�oge ins.umnue pnmium to be p�id by Lender to N�3ecretary or to the monthly charge by 1ho
<br /> � Secra instoad o tha manthlp mortgage inswance premium;
<br /> _- �;�,sa sss}�saxrs.spe�lal A�amenu+:leasehold payments or ground renis,and fine.flood and other ha�.ard
<br /> _ i insurance promiums,asrcquirAdt�.
<br /> ��$p.to�ntetest due undar th0 Nata:
<br /> �,ta amartixation.af�tha p�in_�al�of�tl�e Note;
<br /> � Fjg�,ta lata cheagos dua uade�r the Nat�.
<br /> ' 4. FIr�Fitx�d pnd Otttur�Ia�nd 1nE�rance. Borrower shull[nsure all impravements on tt�P Property.whether aow
<br /> in euIstenoe or subsoquec►dy erect�uga�nst a�►Y hazo�s.c�sualdes,and contInge�scies,i�cluding fu�e,for wh(ch Lender
<br />__ �y��s��, �'p�&qns�uentir shaU be maintainerl in the amounts and for[he periods that[.ender requires. Borrower
<br /> s
<br /> shall also inswe all'I�npravern�nts on the R'°periY.whether now in e�istence or subsequenUy erected,ngamet loss by tloods
<br /> to the extont rsquinad by tde 3ec�netarY• A�l inswance shaU be csrrled with companies approved by Lender. Ttie insurance
<br /> ; policies and any �n$wals shall be held by [.ender sind s1u�11 include loss payable clauses in favor of.and In a form
<br /> �t aoceptableto�I.endsr. _
<br />- In the event�of tr�ss,9o2raw�r shall glve Lender immediate notice by mail. I.ender mny meke proof of loss if not
<br /> , made promptly by Botrowea Eueb insutance company concemed is hcreby authorized and di�cted to make payment for -
<br /> x" such losa ditactly tt�l..ender,ins�eAd of to Borrower and to I.ender}oindy. All or enypart of the insurance procceds may be
<br />- app 19ed by Lendec..ut Its option.either(a)to the reductton of the indebusdness nndar the Note and this Securlty Inswmen�
<br /> :r. ' tirat w cury delin�uent amounts applied in the order in Ptu�agaph 3,and thon to prepayment of principal,or(b)to the _
<br /> ' mstoiation or reprar of tho damaged property AnY appllcatton of the proceeds to the princtpal ehaU nat exeead or postpone -
<br /> the due date of�the monthly paymenis which are�efemed to in Para�rnph 2.or change the amount of such payments. My _
<br /> exc�ss insurance proceeds aver an amount requli+ed w pay all outstanding indebtedness nnder the Note and this Security
<br />- , � �^' ` Insuument shr�ll�bz paid ta the encity(e�uily entitied thereto. that exttn uishes the =
<br /> �''�` �° ' In•ihe evant of fo�+eclosur�e og th[s Security Insmiment or other transfer of tttic to the Property 8 _
<br /> �'+�.:,,�=. _
<br /> �' indebtodr�ss.t�li rigUt,tide and interest of Borrower in and to insurance policies in force shall pass to�the purchaser.
<br /> ."°"'"'� � S. Oo�pancy, Preser'vatlon� Meintenance and Protection of the Property; Borrower s Loan Appltcadon;
<br /> r,�,,,��;�-�. _
<br /> _ .�,,:. Leasehol� Soaower shall occapy,establlsh,end use the Property us Borrower's principal residence within sixty days _
<br /> ,�"'�•`;,: after tha+exacuflon of this Security Insqvment end shall continue ta occupy the Property as Borrower�s principal residence _
<br /> x�ti'�'�"'�• for at le�ast.ane year after the date of occupancy,unleas the Secnetary determines this�equtrement will cause undue hardahip
<br /> ,�.., .
<br /> �"`•'�""�- " fnr Borrower. or unless extenuadng circurristances extst which are beyond Borrower's control. Borrower shall notify _
<br /> � t�a�..: _ -
<br /> `='�':..--. Lendess af eny extenuating circumstances. Bortower shall not commit waste or destroy,damage or substandully chonge
<br /> -�;'�!�:"'�`'' tho pta�ty or allow the Property to detedorate,reasonable wear end tear excepted. Lender may inspect the Property if the
<br /> �•'"�"' `�'`•��' " pr�p¢ity is vacent or abandoned or the ioan is in dofault. L.ender may cake ceasonable acdon to protect sind preserve such
<br /> �,►��;"�;= .'� ,• vacani or abandoned Property. Bnrrower shall also be in default If Borrower,during thc loun epplication process,gave
<br /> `�a;r;.. •: ma?eaially false or inaccurate information or statements to Lender (or fniled to provide Lender with any matedal
<br /> .F;_�. � .• �� , iaformation)in connecdon with the loan ev{denced by tha Note,including,but not limited to.representsdons conceming
<br /> �.:'�:.��:=�••, Borrower's or,cupancy of the Propercy as apnncipal residence. If this Security Inatrs�ment Is on a leasehold,Bomower shell
<br /> �� ''"'='-�?r:: compiy with tho provIsions of the lesse. If Bocrower acquines fee tttle to the Property,the leasehold and fee tide shalt not
<br /> "; �`" ba merged unless Lender egrces to the merger in wridng. �
<br /> .. ,1•T�.+T.
<br /> � 1.._.,� -• 6. Chgrges W Borrower artd ProtecNon of i.ender s Righta in the Property. Bocrower shull pay aii govemmen
<br /> �,�-=- or municipnl charges.fines and imposipons that are not included in Parugn+ph 2. 13orrower shall puy these obligations on
<br /> ��"�'�''-� '�� '�-- dme direcdy to the entity which is owe�l the payment. If failure to pay would adverscly uffect Lender's interest in the -
<br /> property�upon Lenderb requesLc B�wee�shull prom tly Pomis„t o�nde�.r b�eipts evidencing these payments.
<br /> _—____—__ �. Pnr.�srnnh 2.or f�tils to perform any other
<br />-.r!. ,'.'- _ ,. II 00[IOwCI taim w u.o.w uaw.. p.�......__--'_ r^i=---��-
<br /> � � covenants and�greements contained in this Security Inshument,or t}iec+e is a legal proceeding that may significantly nttect
<br /> �jf.Cw .� '. ':
<br /> ,4:h:,, �.• LenderY�dghts in the Property(such as a proceeding in bankruptcy,for condemnation ur to enforce lnws or regulaaons),
<br /> a3•••� - �•'-•-• then Lender may do end pay whatever is necessery to protect the value of the Propeny und Lender'�rights in the Propercy.
<br /> ;;�.,.,.: ,a'..:.: .
<br /> �;:.r::;.;•�..;' �: . includ3ng payment of texes.hazerd insurance nnd other items mendoned In Paragraph 2.
<br /> �onnl debt of eorrower und be secured
<br />_ . •f,�,,�f ,�.�;;�,; Any amounts disbu�sed by Lender under this Para ph shsill bec4me nn addi'
<br /> gra hl
<br /> :' t by this Serurity Inst�umenG These amounts shall bear interest from th�data oi'di�bursemcat.at the Note rate,and nt the
<br /> . .`i, �:'y..L �4'1_�•,�',; �- .� optton of Lender.shnll be immedietely due and payable.
<br /> " ae;��'.��•� "�. 7. Condemnallon. The proceeds of any award or claim for damages,direct or consequential.in connecdon with any
<br />` .;*r?., -
<br /> -.:�:J7_ � •��n J.`',-�: . r� !
<br />�;�: �,,-. ,�rt,��;:;;,,,;�i.`�'••`' condemnauon or other taking of any pan of the ProPertY•or for conveyance in place of condemnauon,are hereby ussigned
<br />`'^:''r',h. �'=7��^�'� ' �'���.�,� 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 /> �'-y�' :��:..',�,�:; Security lnstrument. Lender shall apply sueh proceeds to the reduction of the indebtedness under the Note nnd this Security
<br /> � ~ �ry prfnclpaelnt�Any�appitcadon of the�praceeds to tptt princ pal hall not exte d or�post�pone the�d e dnt�ofretheymonthly
<br /> -v 1+�•,- . ._ .y;.
<br /> ' (paRr 2 oJ4 pages)
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