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<br /> �,� 9.OS�,Z.S
<br />--�'°� _ _ u�� 1. Paymxni a�Pritecipal,Interes!and Late Charge. Borrower shnl]pay wh�du�thc p�incipnl af.and intcrest on. __
<br /> the debt evldenced by tho Nate nnd late churgesdtae under the Note.
<br /> --- 2. Month9y paymenta ot'll�xe.9,Insuranees wnd Qther Charges. Rorrower�shnll Include in e:ich manthly�ayment,
<br /> together with the principul artd interest ax set fonh in the Noto and any lute chs�rges.nn instnitmxnt of nny[a)wxes attd
<br /> _ spr,cial assc�smcnt�icvicd or to be levied agc+inst the Property.(b)leusehotd paymen�g or ground rents on the I'mperty�und
<br /> - — (c)premiums far insurnnco required by Parugraph 4.
<br /> Lach rnonthly in!+tallment for iteme(a),(b)and(c) shall equal one-twelflh of the nnnual nmauntA,as reasonably
<br /> ____ _ _,. �9timnted by l.endcr, ptus an amaunt suffictene to m�intain an nddidonul balunce of not more thun one-slxth of the
<br /> - estimated nmaunte. 71te ti►1l unnunl nmount foc euch irem bhull be accumulatred by L,ender wIth3n a perIod endin$one `
<br /> month before an item would become delinquent. Lender shall hold the amounts collected in tceiat to pay items(n),(b)and
<br /> I (c)befara they become delinquent.
<br /> If ut uny time the tou+l af the paymcrtts held by Lender far icems (a).(b) and (c),together witi►the futuro mon�hly
<br /> ' payments for such items payable to Ixnder priar to the due dutes of such Items, eaceeds by more than one-sixth the
<br /> �• esBmated umount of paymenta required to pay sush items when dus.and if pa ments on the Note are cwYent, then l.cnder
<br /> n� shall either refund the excess over oae-sixth of the esHmated payments or c�t the excess over one-sizth of the estimated
<br />-_!. payments to subsequent payments by 8oirower,at the option of Bo»nwer. (f the total of the paymenta madc by Aarrower "
<br /> d for it�m(o).(b).or(c)is insufficient to puy the lt�m when due.then 8omower tihall pay to Lender�rty amaunt noce.ssa�y to
<br /> � mnke up the deficlertcy on or before the dnte the item becomes due.
<br /> As used in thls Security Inspument,"Secretary"means the Secretary of Housin�and Urban Development or his or her
<br /> designee, In uny year In whEeh the[.ender must pay a mort�age insurance premlum to the Secretary,each monthly payment -
<br /> shaU also include either. (i) an instatiment of the annual mortgage insurance pr+emium to be paid by Lender to tho
<br /> Secretary,or(ii)n monthly charge lnstead of u martgage insw�ance premium if thi�Secucity Inswment!s held by the
<br /> Se�etary. F:ach monthly insusllment of the mortgage insurance pmmium shall be!n an amount sufficient to aceumWate the
<br /> . •:�',°�s���:E-{.;� fup annual mortga$e insurance premium with l..ender one month prior to the date the full annual mortgage insurence �_
<br /> ��*�i;,�;'` premium is due to the Secretnry:or if thls Securlty Inslrument is held by the Secretary.each monthly charge shall be in an
<br /> ,� .. r�r;;�;� �'' amount equal to one-twelfth of one-half pencentofth�outstanding princjpal balunce due on the Note. -:--�
<br /> •��.;,,, ' ' " If Borrower tenders to Lender the full payment af all sums secured by this Secwity Insuumen�Horrower�s account �r:'�;"�
<br /> .-���,.'',�,��,�E,� shall be credlted with the balance remaining for all lnstailmenu for items(ai,(b) and (c) and any mortga�e lnsurance _=:
<br /> �«` " pmmium installment that Lender has not become obligated to pay to the Secretary.and Lender shall prompdy refund nn� ,,.,3-
<br /> excess fands t�Borrower. Immediately prior to a foreclosure sale of the Property or iG5 acquisition by Lender.Borrower a �"��'
<br /> �'���''���� � � ���Y account shall be credited wlth any balance remaining for all instc�lllments for items(a).(b)and(c). ;"'._
<br /> _{ti`'�;Y,; � 3. App(tcadon of Paymente. All payments under Ptuagraphs 1 and 2 shall be applied by L.ender�s foliows: � �,
<br /> � . �.to the mortgage insurance premium eo be paid by Lender ta the Secretary or to the monthiy charge by the ��.
<br /> ' ' :��: Sec�e instead of the monthly mortgage insurance premium; -�
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<br /> ._ � C��to any taxes.special ussessments,lcasehold puyments or ground rents.and fire.flood and other hazard .
<br /> '' insurancc piemiums.as requlred; �Y��
<br /> � ;;_ � �,D,to inteirsi due widai ihe Nate; �.
<br /> , , �• . �QURTH,to emortizadon of the principal of the Note:
<br /> '. • ,;�;=;;'�' � �,ro late charges due under the Note. �r:
<br /> �'/"::4�• • ' 4. Fire,Fiootl and Other Hazard Insura�ce. Borrower shall insum ull tmprovemenu on the Property,whether now
<br /> M�....�f ' �.��'
<br /> k��,,,, , in existence or su bsequen dy erec t e d,ug a i ns t any h a z a c ds,casu�i t i es,a n d c o n t tn ge nc I es,i n c l u d i n�f i r e, f o r w h 3 c h L e n d e r
<br /> . • . �.�•�:, requires insuiance. This insurance shall be maitttained in the amounts and for the periods that Laader requices. Bomower __
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<br /> �.� . . .� sball also instue all improvements on the Property,whether now in existence or subsequendy erected,aguinst loss by floods
<br /> ' �``.ti�`�•�' to the extent required by the Secretary. All ir�urance shall be carried with compantea appmved by Lender.The insurnnce
<br /> ''+`t'�''}�'''• '��"' r''• polictes and any renewats shall be held by Lender and shall inctude loss payable ctauses in favor of,end in u form • •
<br /> `���'•'•�";�'''� ' ' acceptable to,Lender.
<br /> 'di�`��•�,�� " �� � ' In the event of loss.Borrower shall give Lender immedinte notice by mail. Lender may make proof of loss if not
<br />_,:,.• '�^ti;i���'�'. •.� ;j';,'f; made promptly by Borrower. Each insurance company concemed is hemby uuthorized and directed to meke payment for
<br /> ' ''� =::,4. such loss directly to Lender,instead of to Bonower and to L.ender jointly. All or an,y part of the inaurAnce proceeds muy be
<br /> � �' .�n�:� -, �• • � applied by Lender,at ita oprion,efther(a)to the reduction of the indebtedness under the Note and this Security(nsuumen�
<br /> ''''����`���•' '` first to any delinc�uent amounts applied in the order in Paragrnph 3, and then to prepnyment of principal, or(b)to the '
<br /> ';".`;;�'�',��" � restoration or repau�of the damaged property. Any apptication of the proceeds to the principal sheil not extend or postpone
<br /> "?�j�';�,-`'''• . the due date of the monthly paymenu whtch are refenred to in Paragraph 2,or chenge the umount of such paymenGc. Any
<br /> °""'.`� ••• .�••FFt, excess insurence proceeds over nn nmount raquired to pay ull outstandmg mdebtedness under the Note and this Security
<br /> ''� ' '�•'f_�'',�:7: Inswument shell be paid to the entity legaliy entitled thereto.
<br /> : :�..,: � . ,�:�:.; :
<br /> , �,t+: ..,� ;� In the event of foreclosure of this Securiry Instrument or other transfer of title to the Prvperty thut extinguishes the
<br /> 4;'r�' ,�,,-' •. indebtedrtess,all right,tttle and intemst of Bortower in and to insurance policies in force shall pasx to the purchaser. . :
<br /> .."•����. . � S. Occupartcy, Preservation, Ma[ntenance and Protectlon of the PropeMy; Horrower's Loan Applicatton; •t,��°�",
<br /> � ,,r;y: . ,�,.,r
<br /> ,,.,�,,G; _ : , : I.easeholda Bocrower shall occupy establish, and use the Property as Borrower's principal residenoe within sixtX days
<br /> , ���,� _ � nfter the execution of this Securiry Instrument and shull continue to accupy the Pro}�erty tis Harrower's principal res�dence
<br /> " ,`��r a for at least one ear after the date of occu anc unless the Secret determines this uirement will cause undue hurdshi
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<br /> '� �'• �,"- � `• '� for Borrower, or unless extenunting cIrcunistences exist which are beyond 13orrower's conuot. Bomower shull notify
<br /> •�''' I`�t'�'�� Lenderss of any extenuating circumstances. Borrower shall not commit wuste or destroy.damage or substantiully chunge
<br /> ,y��:�''����� ;��'- the Property or sUow the Propecry to deteriorato,reasannble weur und tenr excepted. Lender may inspect the Property if the
<br /> �'• ?`':�'o' property Is vac�t or abandoned or th�loan is in default. Lender may take reasonable sction to protect and preserve such
<br /> ":`F'"•i' . . vacant or abandoned Property. Borrower shall also t�e in defuult if Botrower, during the loun upplicatian process,guve
<br /> ;;i.,
<br /> , ,;:,_;,�:;�;, materially false or inaccivate information a statements to Lender (or failed to provide E.ender with uny materiel
<br /> ' ''�-`•ti`'�� informuuon)in connecrion wtth the loan evidenced by the Note,including,but not limitec!to,representauons conceming
<br /> .,.s,:•,
<br /> ' � ° ' � '}"' Bo�mwet's occupancy of the Property as a principal resIdence. If this Securiry insttument is on u leusehold.Borrower shell
<br /> �y �i„�,t.' i,:.•:
<br />. • •• comply with the provisions of the lease. If Bomower ucquires fee title to the Property,the leasehald and fee title shull not
<br /> �''.'l;�l,�,�:�:,,. be merged untess Lendar agrees to the mer�er in writing. ,.
<br /> ��?>.`'�'• • . 6. Ch es to Borrower and ProteMion of Lender's[tights in the Property. Borrower shull pay all govemmentnl
<br /> '' ' . or muniolpal�arges,fines and impostHons that are not included in Paragraph 2. Borrower shali puy these obiigutions on
<br /> � " , ';-�` �`� time directly to the endty which is owed the payment. If failure to pay would adverseiy affect Lender's interest in the .,
<br /> Property,upon Lender S mquest Borrower shall promptly fumish to Lender mreipts evidencing these payments.
<br /> S ' . If Borrower fsiils to make these payments or che payments required by Patagraph 2,or fails to pedorm any ather
<br /> covenants and ugcements contained in this 5ecuriry Insuvment.or there is a legal proceeding thut may signif{cuntly uffect
<br /> • Lender�rights in the t�e+operty�sucn us a p�vcaeuin�in oanicrupccy,for condemnanon or to entorce �aws or mgutunons), �•�-
<br /> ', then Lender muy do and pay whatever is neceuary to protect the value of the Property and Lender�s rights in the Propeny, I
<br /> - inciuding payment of taxes,hazerd insurnnce ond other items mentioned in Prua�raph 2. �
<br /> , • Any nmounta disbursed by Lender under this Paia�reph sha{t become an additional debt of Borrower nnd be secured �
<br /> by this Security Inswment These umaunts shall besu intcnest from the dute of disbursement.at the Note rute,and ut the ;
<br /> . . opuon of Lender,shall be immed[ntely due s�nd payable. �
<br /> 7. Gondemnatfon. The proceeds of any award or claim for dama$ea�,direct or consequenti;d,in connection with uny �
<br /> • ° , condemnat[on or other taking of any part of the Pmperty.or for conveyonce in place of condemnution,ur+e hereby assigned �
<br /> " and shall be paid to I.ender to the extent of the full amount of the indebtedness that rem�ir�s unpaid under the Note and this I
<br /> �� °,,: - Security Inswment. Lender shall a�pply such piviceeds to the reduction of the indebtedness under the Note and this Security
<br /> - - "�-���� � InsWmen� ficst to any del�nquent nmounts applied in the order prov�ded m Pardgruph 3, and then to prepayment of
<br /> -�, principal. My npplication of the pr+oceeds to the principul shall not extend or postpone the due dnte of the m�nthly
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