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<br />— -- - --- . � ` , l.8a,��t Qf PaL�3�a1,Iate�e:s1�ind 1.ate�d�ige.:Q�so�t�r sh�U pa�vnc�st`d�^th�p3�����.-rest on,� � �
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<br /> _ — , ,; � 2. Au�*�a!;,�,°�*�����!�ns'�•�--erl Ckt�r �Borr�we�s�tail eat�lude�eacH mant�lY p3S� � - -
<br /> �-�-_. _ -- . � � t�g�f.�sr w�+��1aer�ir�cinnl en�int�r�ss_as set fort�d#3bc Nace��y tase tliarge�.�an utstaltmenrfla;�g�a}t�s'�sa�� _� �• - --
<br /> — _— — _ , �pecf.�as�sS�tLS Yevied ar to Pk ievie�mgain.,�t tt�e I�pe.s'ty:{f+)Yessalio7�p3yintt►ts 4t Sraund�an-tl�c Ptug�r'�;s��- .•�.�ti -
<br /> ------- � ' • f�) u�tts�fQriiii.,�'{�s�erea�redEyP.ua�ph4.�' . ' . , �
<br /> _ —__-- � . �►ic �t�s�tYsly iastail�e�t itrr items EaI.(b)anfl(c)sl�,rli e4ua! ostc•twelf3h o€the annual etaau-nts;,s.s�u�aabty
<br />�r ��� � . . es�+.aic9 by.I.eftder,•Flvs'un asn�uat ss�cient to maintaio,an edditiat�at bsiance of�ot�none thau oge�s'�cth.of tha, .
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<br /> ------- . - . ��. �es�r�?�a�rt�ants. .Ths full_�nnual.amoutt�for e�iteen st�all be ac4wmuL�ted by Lender,cv�tt�n'n�e�#ad: g aae: _
<br /> - -- - - ,, manth befaie an item�vnuld E�camo delin�uens. Lea�"er s�lalli�o2d ti�entounts cuilectest in rivst ta gagite�us fa3r�#�.r . _ .
<br />_�z• , �c)befare t�ey becam�d�iir.cgcen� , • ` , ,. . • . . .
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<br />- �� � .If�at any ame the�t�'.al:.af�he paym�nts hetd hy,�Lcnder fos it�ms(a?.tb)a�d(�).toge�her with a#ie fur.a+�muathly
<br />_ — -- g�ymenfs fa�such i4e�i���AbSa t+v Leuder prio:tQ the due daf�s of satc�items.exceeds by�as�thnn on�svc4la the
<br />- - -- �at�l amount of gaym.�a�,�i�.�pay sush items wh2n du�.�nd if pa snts au th�Nate ar�o�t.d�cn Leader .
<br />_- ' sball eilher refun.d the rx�css�+rer�nc�s�of the esiimate�pa5+m�ts er�th°excess over os�-siath of-fl��azed . .
<br /> = to sulusquent p}9G�.pnu by$o�mwer,at the optian of Bonowes: If t}m lotal of ths payrmGnss made by Bonn�e�. .
<br />-- a�f� t��a),(b),ai(c)is;inaa�fficient oa payt tH$item whea due,thsn Barmwer shall pay to�nder an3+�uunln�sa�►u': _ .
<br />�� �' � �t�up the defirieac�l9�,�s�fo�the daLe the item 6ecomes due_ ' • ,
<br />�: As used�this Sec�mty Imsttument,"Seciemy"�netu�s the Sacretary of I{ousing aad Urtsan Dav�op�t.�Ar itis'or h�r
<br /> = desi���Uo aay:peaz ia w6�ch the Le�der innst pay a mortgage�insutaace pienuma m rLe Seraet�.�xh m�1Y F��
<br /> shall aFsufit�bmde either: (i) an inse*s��1enr of the aanual moitgage ins�ance pieminm m me paid 6y I.eadsr to ttce �
<br />_ ' Sexretaty,ax.d'u'�a matthiy ct�e instead of a�angage insurance premiirm if tfus S�t7r Inst�ment�s he�id by tue ' : ,
<br />- ,. ., Sr�tetzry. E�cT�manthlly installmeat of the mort�age�^���"c�pnmiarn shall 8e in an aTa�nt s�ffccienx m asx�.nulatql&e ' ---
<br /> _ " fiill a�u►ual i�stg�ge insurance pre�aium with Lettder ame utonth pnor W dt�date ths fall anaual martga�,sha116e'�ma�n -
<br /> . premIu�iS;d�ta�tl�e Secretary:br i€this SecuritY Insuument is hetd b�+the Secretar3+,�ch montLly eha�e . .-
<br /> - • amauaU:+�:iq�o�melfth of ane-half pet�it of the oncst�►ding Psincigat balani?a dtae an rhe Nate.
<br /> • If�-er�ndess w L�cnder the fnII.payment of all sums.s�.bY.diis Sec�nity Insbu��t,Bettra�wer's accaouat. , -
<br /> � ' shall be icredit�vrith the halance remaimmg for nll iastaltments for�i�ns.{a),.(b)and(c)aad any mortgage.inswaace .
<br />� • pre�tuunrinst�itment that I.end�r has not besrome oBligated to pay to the.Sec�etary,and l..ender shall promgily iefmsl� .
<br />- • excess fuads to Boaawer. Imraediate�y prior to a foreclos�ae sale of the PEOp@rty or its acquisitiun try Lender.Borrowu s .
<br />= sscount sLall be crediteel with any balance iemaining for all instaltnaents for iums(a).(b)and(c)., , . --
<br /> . . 3'. A lleafioa of P�ymints. AII p�ts undet Faragaptis t and 2 shall be applied by Lc�der as folIows:. �
<br />_ �to the martgage ins�rance giemtarn w 6e paid by Txnder to the Secretary or tn the monWly charge6y the . .
<br /> S�retary instcad of the mon@ily mortgage ia�nance�premiumt
<br /> _Y���� � SF.COlj�,tn�y ta�tes,special assessme�ts,leasxhotd payments or gmund rehts,and f�e.flood and other hazard� .
<br /> ''�,�� � in.�*A�plemit�s.as requiied; . . . .
<br />_ �. ',:: � t�H R .D to interest dae u�der the Noi� ' , �,,;;'-
<br /> = r.. =;s. +�,., �•�<' •F�Y UR'f�.to amortization of the prirccipal cu:Eli:Nate; � • ; :''� ��;:::_
<br /> , _. ,'.`., �to Iate ebarges due under.the Note. �. ,
<br /> :. ;�*,,.,
<br /> - ' ''" - Q,,II�'ere,Flmod aad Othe*�ImsvsBnce- Borro�ver shall insure all improvements on the piraperty.whether now = __
<br /> �� ' _�:�:, 'in exisGence or subsequently eiected.agaznst anY b�ds•casualuc�,and c�ntingencies.including fue,for which LendeT . -
<br />�.;' '; ''� ��'�'�� requues insurance. 7I�is insurance shall be ma+�n�:n�1 in the amouats and f�tithe pesiods that I.ender sequ�s. Bmrower __
<br /> ;;; yr�� .� ' ; shail also insu�e all imp mvements on die PropertY,whedcer now in existencr iaT 5ubsequently erected,agai�.st inss by floods :: _
<br /> °•' !.�i,;+�'�;.;,f: � . to the extent iequired the Sectetary. All insuzance shall be canried with c�riipanies approved tiy I.endex:.'[Yie insurance �.•:
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<br />�'<, ,�"��Fj„tt�a��;�' palicies and any �newals shall be held by L.endes and shall irtclude loss payabte ctauses u�favor of, and in a fomt •�.": ----_
<br /> �e`� '�„ ,���,t;;•�{�fr� acoegtableco.Lender. • . ----
<br /> r'��'f� �. �- ��:.�---.— .
<br />:'4 �,P .�r.�;,�•,. , ia the event of loss.Borrower sha11 give l.ender immediate notice by mail. Lender may make pmof of Ioss if not �_,�
<br /> made pmmptly by Borrower. Each insivance company concemed is hereby authoiized and directed to makc paymsnt for
<br /> . uan �
<br />- � . �. sncb Ioss diiec8y to Lender,instead of to Sorrower and to Lender jointIy. A��t�any part of the insuranc�proceeds may be ��"'�'�'�
<br /> �__:�;`.
<br /> ' %"" • agp lied by Lender.at its aptton,either(a)to the reduction of the indebtedne*�a zmder the Note and this Sec�ity Instrument; � +'�-_
<br /> _. . ' , first m any del9nqnent�amounts applied in the order in Faragraph 3.and t��.�o prepavment of principal.or(b)to the � _
<br />- t cestoration or repair af the damagecP pr.�pertY, Aa►Y applicatian b€the pmveedS'ip the prinei�t shalt not eatend ar post�..� . __g
<br />_ ' � + "� � the dtt�.d�te of the moatlilY PaYments•which are referied to in�aragaph 2.or chaage the siaount of such paymeMs. 1�•';
<br /> r* � �'' � exces�-i�u t�r a n c e p r o�e e d s o v e t a n a m o u n t c e q u i i e d t o p a y a l l o u t s t a n d u i g;^.d e b t e d n e s s u n d e r t h e Note a i td this SeC�ri:vr:'_ �•�==:
<br /> - s�'•`'>=�-•: Instt�m:at shall be paid to the endty iegally entirlrai�.theieto. ;� , , . :�.�,-'
<br /> - '�'�',.s . �a.$le event of€nreclosure of this Secin�itr,j 1�-trument or other tiansfe.-of tide to the Property that extinguisheg the ;.t�=
<br /> e.
<br />_ �;.!'.,` .;�'.�� , ', L��all ri��:tte and interest of BorNy��r 9n an.d to inswance policies in force shall pass to the purchaser. ��;<
<br /> .'. . . r .'�ccupanccp, �'teservatia�, Matnteaance•and Pra��tfon of the Property: Borrower's Laan Applicatlon; �': `;`";�__
<br /> `��3= :;'_�>;`��',. '� . I;�. Boaower shaU osc+s�y,�tablish:udd use the L�r*.��erty as Borrower's principal residence within s�xty dags .
<br /> �: ..'��:;"•:..��.: ^ ..
<br /> afoer thc�acecution of this S��g`iVas�wnent 2�d sha11 conr.�n9�'o oceupy the Property as Borrower's priiccipal residett�
<br /> •� :.` . for at least one year after the date�tf.�ccu¢ancy.�s the Secr:ary deterns:,-�s this requuement wiU cause undue haidsliip • •
<br /> � f�� ' fot Bonnvver,or�less extenuati�eircur�is�r�s exist which are beyacx��onower's control. Borrower shall aotify
<br /> ''�'- `-`�- � Lendcrs af uny extennaiing circas'�+iznces. 8o'r,ower shall not commit was^::or destroy.damage or substantially char�ge
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<br /> ,�`�..;'�;.?!°:.�.,1:��� the Pt+o�perty or allow the Praperty er��eteriorate.reasonable we.�c and tear excepted. Leader muy inspect the Praperty i€r�e .
<br /> �
<br /> ` � ��'• • property is vacant or abandoned az sa'�loan is in defauli. Ler,��may take re�sonable action to pmtect and preserv�su� •
<br /> � ' e�'� :;,." �
<br /> . ��s,x;��'�;�:_�r � vacaat or ab�ncloned Property. Bdrrower shall also be in dd;�tz'st if Borrower,dwing the loan application grooess�$i?� . ,
<br /> ta_�:�;.'`_' matetially false or inaccurnte tnformation or �*�ment�to Lender (ar l•.�`.ed co provide Lender.wQiP•�ny matenal
<br /> !:`'�'"°"�'°:, information)m wanection with the loan evidenrzai:fiy.the Note.incIad;ng'�:c not limited to.represent��ss conceming '`� • -
<br /> .���'- , �
<br />-. ..�,. .,., .,!� Borrower�s occupancy of the Property as a pru���c:s�den�e. If this Seciui�y�ixtstrument is on a leaseholt��Barmwer shall _
<br /> �"��;�.:,'',�„�!i; ';� comply with the provisions of the G�se. If Boira:ser acqui�s�.fec tide to the'Pt'operty.the Ieaseho�d and fee rit�e shall not
<br /> s be merged untess Lender egc�s ta�tis�merger in writing. .
<br /> �.
<br /> - �-:x��' "4". 6. Charges to B�n�ower aa�L�'totection op Leuder's Rfig�ts in the Property. Bom��-er shall pay sill govemmeni�i '
<br /> '�*�••yr;� t• or mnnicipal charges,fines and imposiaons that a�not incladed in Paragaph 2. Botrower shaB pay these obvgations on
<br /> �' '`` • time direcdy to the entity wiuch is owed the payment. If fa�ure to pay would adversely affect Lender's inteiest m the . .
<br /> �...
<br /> '�• u Lender's est Borrower shall mptly fumish to Lender receipts evidencing triese payrments.
<br /> �J' � �d��' � � � uued by �ragraph 2,or fails to orm atry other '
<br /> - ------ If Bamuwer�uits to make these payments or the paymems req ' P,� .
<br /> _�-���;4"� covenams�d ag�ements conmined in this Securiry Instnunen�or there is a legal proceeding that may sigruficandy affect
<br /> _ � �•, Lendet�s rigtus in the Property(suc6 as a pmcceding in 6ankruptcy.for condemnation or to enfor¢e laws or regulac►uns). . ' .
<br /> �:i i.,
<br /> - "��'{; • then Lender may do aad pay whatever is neccssary to protect the value of the Ptop�rty and Lender's rights in the Property. ,..,; .
<br /> • a` �'i'+_: .
<br /> �'t��Y'_:�`,=?�:;_:. incfuding payment of taxes.hazard insurance and other items mentioned in Paragraph 2.
<br /> . . -"•�```""`.'•, pny amounts disbursed by Lender under this Paeagaph shall become an additionai debt of Bomower and 6e secured .
<br /> ..,, .. � .:t�: � .
<br /> ` �.. � ,�a by this Security lnsnumenL These amaunts shall bear interest fcnm the dafe of dis6t�rsement.at the Note rate.and at the _ __ .__
<br /> : •� , „�`��`�Y opuoa of Lender.shall be immediatety dnc and payable. .
<br /> � •,..`.:F�' . � Condemn�tioa. 'itie praoecds of eny award or claim for damages.dimct oi wnseqaendal.in connecdon with any
<br /> � �"�
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<br /> �_��,,;�,,_,F�;_: •, eandemnatian or ather takm�of any p�K of We Froperty.or for conveyance in place o£condemination.are hereby assig�ed
<br /> ' •- ,..•+,. , • and ahall be paid to Lende�w the extent of the full amotmt of the indebiedness that remauts unpaid undet the Note and this . •
<br /> ' :: .: , '
<br /> ,' " �;, .,,;,�_`. . - S e c u r i t y I n s w m e n L L e n d e r s h a l f a p pl y snch pmceeds to the teduction of the indebtedness under the Note and this Securiry
<br /> ,,.
<br /> -� :•. , tasummat,fast 6u any�i t a�-aovnis a�2ics!is�ttta ordes�roeides!it�P�ph?. �nd'thet�m �nepatrment o f. - - -
<br /> _� :�.;, • p r i n c(pal; pp y a p pltsadon�pmceeds'to the principa}shall not eatend.or postpone the due date of the monttily •
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