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<br /> .�,�:_ , 1��'4r � �f.and intenest on. �x"�'°"�-
<br /> f s��.�� , f L Poyatent u?Frindpa4.�alterest sind Late.Cbsu�a Boirower sha11 pay when due the pri�cipal, , -^
<br /> ,��'`.',� ��:+-� •r � , the de�t evidenced by the Note and laze charges due ander the Note. �:��,��-�-
<br /> ` ;,,�s� ��;:�•., ; 2. li�SontBily puynaetits oY'I'ases►dasur�s�e ancl Qiher�ur�es. Bo�m�ver steaIl include m each manthly gay�e�t. ��„����:p,.�_:
<br /> ���t ` :..- � together a�it1�the priuciPal aud interest as set fort�in the Note,and aay late charges.an af any Ca)taxes aad __
<br /> _ ','���;���'`� i speteal assessntents Icvied ax ta 6e Ievi�d against the Property,(b)teasetwld payments or ground rents on the Praperty.and �.���-�;� ----
<br /> �'G •`. �� . ' ` � ° �C���inci�rance t�QUited by Fd�'dgiBPh 4. ' ,_`-, � °
<br /> � . . ; � •, Ea�h monthly inctnllme�l for items(a), (b)-and(c)shal!equal one•rnret4lh of the annuat amounts,as r�asonably
<br /> e.sbmated by I.ender. plus �amount suf�cient to maintain an additiunal batance of not mon t�ian one-sixth of the Y.j r�-���'"_'"°-
<br /> � r ;�,..._. . _
<br /> �.. `' � �:._'`r... estimated ammmts. 'i�e fuil annaai amonnt for eac6�tem shall tse acc�aulaied bY Lrender�nthui a geaod endmg one -. ti, - �- _
<br /> .��. ,:` �' , 'm�nt1�bef�+e an item woutd beeome delin4ue�t. Lcrider s�ilt�t�the a.mounLS wltected ia vust to pay iie�.;(a?.(b)and ` ��', '�'��.� F.
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<br /> -u� .�..._.:
<br /> °. (c)before the3►6ecome delinquent .-�`Y �=
<br /> . . � If az any time the t4ta1 of the payuzents held by Leader for it�ns (a).(b)and(c),w g e t 6er with ti�fat�ue manthly :��..u��.�, __-
<br />. ���::,,..,,�,�:`` ,..,, payments far such ttems payable to Lender prior to the due dates af such items.o���Na�te aze current,th�.l.ender , � �..._._._._
<br /> N,a �`-,`=�_ esnmased artiouat af payments ieqwred to pay suc�t irems when due,and if Qaymen �.
<br /> - ' �`;.�' ;� • ` shall either refns�d the excess oYer om.-s�xth of the estnmated PaYmenu or credit tbe excess over ane�xth of tke es�raated _-- - _— _ _
<br /> � � 5 AI}I
<br />-,;��. .� . F ..:� a to nt PaYma►ts by Horrower.at the ogtian of Barroarer. If the wtafi of the payments made by Banawer �_-----—
<br />__���^,,� _. . . � P 3+ments subseque .
<br /> - �"� �•<� for item(a).N),or(c)Is insa�cEent m pay the item waen due,then Borrower shall pay to Lender any amoimt necess�9 to
<br /> �r;�=�J`°:'��'��:'���• make up the deficieno3►an or b e foie dte date t6e item becomes dae. —
<br />.`; ;, . ; - � As used in this Secunry Insumnent,"S�uy°means the SecretarY of Housing and U:ban Deve2opm�t or[us or her - _---------
<br />_= r�,'..'
<br /> � '.::.'-�`,:' = designee. In any year in whic4 the Lender must pay a martgage iasurance premwm to the Secretary,each manthly payme►�t ___
<br /> -:�= : msurance�emium to be patd by Lender to tha ---
<br /> �.. ,� �:,,•t sIlall also incInde either. (i)an installmen� of the annual mortgage ' • ___-
<br />'�''j>: Se�et�y.or(i�'�a moathiy charSe instead of a mortgage in��.+ce premiva►if t3his Secunty Instrnn►ent�s hetd by 2he
<br /> �'�+` ` ..,;�. . of the inortgage insmance�premiurn shall 6e in an mrrount suffnci:nt to accumutate the
<br /> =,�•- �, z.t Sec�etazy. FzcB monthlY instaUmeat _
<br /> :Y- . fall a�ual maltg"age��*g^�P p�um arith LeIIder one month pnor to the_date the full am�ual martgaSe ins►r�ce
<br /> �` :�.� . ;, f�; .' .�, t is held the Secm.tary.each month�Y�har�e si�ll 6e in an
<br /> � '''•. � . premium is dae to the SecsetarY;or if tlus S��ity Instcumen c�i al batancs due on the Note. �
<br /> � � amount eqaal to one-twelfth of one-half prsceiiL4f the ouutand"mg Pria P b this Sewrity In�trmmen�Bormwer's acconn� --
<br /> ',"'° � � '" If Borrower tenders w I.eader d�e full PaYment of aU.sRms� Y ��
<br /> shaU be credited a►ith the b��ili�ce rem�ining for ali tnstaIil�aEr►ts far items(a).(b)aad(c)and any mortgage
<br /> � ., ' '.. ',. .,` ' p�mivm installment that Lend�ri�as not 6ecame obligai�in pay ta the Secretaryor its�der s6a11 prl.�y.g�wer� v��._
<br /> _- -•,, `' � G exc�ss fands w Boirower. Immediately pnoc to a foiecIo�te'r sate of the Property �s9� bY
<br /> : � . • account shall be ctedited with any balaflcc�nft�in�for all instaUments for items(a),(b)and(c). _
<br /> �- -- 3 Appllrattoa of Paymeai�. A11 F�Y�under ParagraPt�1 aad 2 shall he applied by Lend�cfoll e b the
<br /> __ - - FIRST.to tfie mortgage insar�ate pieda�n to be paid by I.ender w the Secretary or to the mor�.tY has8 Y � _�,_
<br /> ' • ' ge�retary insAzad af the criot�thly mortgage uisurauce pnem►pm;
<br /> ' '. : � cFCnlv�.to aay taxes.special assessments.leasehotd paymenu or ground tents,aad��i*�ad and other hazard ���.��
<br />. °,. . .; ����
<br /> , . insutance Qremiums,as requued: . . —
<br /> . . . THIRD•to uiteiest due under the Note; . ..
<br /> . �OURtK•to amort'vauon of the principal of the Note: . : � �
<br /> ' • • �. , , I to late char�es due uader the Nole. ���r nflw }'_
<br /> • ,:•, 4. F�re,Fiood and a4U�����- Borrower shall insure all impmve�ts Qn the PropertY• 6:- .
<br />`�`� ..� , ,..,�.1: - ' in���tence os subsequentty�.'�ed.againsc any ha�d..�,r.asnalties,and contingenci�.�cluding fire,far whicfr�.sndes
<br /> � ' �i" • .. ceq�.-es insusance. This insw�:ce shall be maintauied i�she amounts and for the perict�s that Lender requim�.i3'+m�wes .
<br /> �'' � shall also i�sure aU improvements on the Prope�y.whether now in enistence ar sabse��ady erected.agait�st Ic�tay:trloods
<br /> � - ,..•• ' to the ext�t requued by the Secietary. All insiaance shall be carried avith companies appsaved bp�der. 'ftie'�sureace
<br />_ � � .., pa�licies and any renewals shall be held by Lendes and shall include loss payamle cluuses in fs��of.and in a foim ;S; '
<br /> _a;`•., . accentable to.Lender. '
<br />._,�";�.-�.� , . , In the event of loss.Bomnwer shall give Lender immeaiate notice by mail. Lender maX make Proof of ta�if not �'k.S
<br />.;::�:,..•,. '%� � ' �tnade ptamptIy by Borrawer. Each insurance comPanY concemed is hereby suthorize�and directed to make pa}�r.nt fox ,
<br /> _�.:�^• :'- '- , — ,lh.
<br /> ,. , . such toss directly to Lender.instead of to BoTrower and to Lender joint1y. All or any part of the insu.r�nce proceeds maY be _
<br /> -'°�`` � ' �" app lied by Lender,at iu option.either(a)to the redaction of the indebtedness under the Note tu�d dTis Securiry Instrumen� _----
<br /> —r.;,.,:,,_�.; . 3. and then to re a ent of p�cipal.or(b)to the � `"'•�
<br /> _==;:�,��;,<_>_ .. fiist to any delinquent amounts applied in the order in p'aragcap:i P P Y!n
<br /> ° An lication of the to the rinc�pal sl�alt not extend or postpone
<br /> _ - �:�.�,�;�:,= : r ceswration or tepau of the damaged property. Y aPP p�=chan e c�e amount of such paymerss. A?►y ,���
<br />--_ • ths due date of the monthty gayments whieh ate referted tn in Pa�agraPh Z�, S ,
<br /> ' � • excess inswar.ce proceeds c;:�an amount required to pay all out anding mdebtedn...�ss��mder the Note an�dii:��Sxcunty =';���
<br />�;:• f� ' � /nsttu�t s5all lse pa:d to dt��►dty legally endded therew. ,;;�.� 3i...
<br /> �zt eF`*�ishes the -' ,,. �.� x�
<br /> ' ;.n_iiie�ae�3 of fotec'iosure of this Secunty Instrument or other aansfer of title to the Prc�.� • ..��:,.__-
<br />:�: ...' ' • ,': �o���;,:;�,�n�(ss,rt'e and interest of Borrower in and to insurance policies in farce shall pass r��c�:z pn�(rzser. .
<br /> -. . . • ateaance aad Protectlon vf the Pro�ertq: Borrower's Loaa A�pllcatlaa; .°�����:�
<br /> =,. . �; 'S. Occap�zc�. Ct�esvation, Mai ,,:,�
<br /> _ , , ' � �e�otds. Bo�m�er slsaJl eccupY.establish.and use si�I'roperty as Borrower�s principal residence withia�xty days '�" . .,°Yt_
<br /> . o�m
<br /> � � after the eaecution af this Securiry Insmunent and shall contiaue to oceupy the Praperty as Borrower�s princig3t residence ,:. � y „,
<br /> — for at least one year after the date of occupancy.wdess the Secretary determwes this requuement will cause undue hardshi � ;:� . ._,��
<br /> �..';.,, ..°� ' � . � for Bottowei,or tudess extenuating circumstances e�ist which are beyond Borrower's control. Borrower shall notify _ _
<br /> '� � � Lendets of any eaterivating circumstances• Horrower shall not commit waste or destroy.d a mage or substantiafl y chan ge :�
<br />-�-"•'". � � the Property ar allow the Property to deteriorate.neasonabie wear and tear excepted. Lender may inspect the Property if the :�-
<br /> ''=�'- . •� praperty is vacaut or abandoned ar the loan is in defaul� Lender may take reasona6le action to protect and preserve such i;
<br />:=?�#� '� � vacant or abandoned Proyerty Bo�rower shall also be in default if Borrower.during the.loan applicauon process.gave , �
<br />�as_; _.� :.;?: '�. , ' materiall�+ false or inaccurate u�fottnation or statem�enu tb Lender (or failed to provide Lender with arty matenal . .
<br /> ��; infmmauon)in connection with the loan evidettced by tht Note,including:but not limited to.representations conceming � �.
<br />:_,:;�-:• ;� : . . Botrowet5 occnpancy,of th�Property as a c�incipal residence. If this Secunty Insuument is on a Ieasehold.Borrower shall ._
<br />._,��,:: - _. . �ampty with the provuions of the lease. �Bortower acquires fee title to the Property.the leasehold and fee title shall not
<br /> .r�.�_:. • it$meiged unless Lender agcees to t he merger i n wri d n g. � •
<br /> '�� � � 6. Charges W Borrower and P�rotecmton ot Leader s Rigfits 1n the Proyeaty. Borrower shall pay all govemmental
<br /> '� '�`' ' ' � ot mualcipal ctta�es.futes and impositions that are not incIuded in Pnra�raph Z• Botrower shall pay these obllgstions on �_
<br /> -?.�`��'�':�.` ' ' time direc8y to the entity which is owed the payment If failute to pay wonld advetsely effect Lender's inF�est�n ti�e �=
<br /> - '•�"�' ' ' � pMperty.uposs Lender's tequest 8oirower shall promptly fumish to Lender receipu evidencing these payments. ,: . "�
<br /> ;s� •. ' Para h 2,or faiLs to ert'orm an other ="
<br /> If Bor�wer fails to make these�aytnents or the paymeatts tequired bY �P p y ��,
<br /> .�� . • � covenaats und agteements contained in th�s Security I n s w m e n�o r t h e r e i s a t e g a l p r a ceedin g that may s�g t ificanQy affect . . '
<br /> , L.ender�s rights in the PropertS+(such ag a proceedino in ban�etvalue of the Frope�nand Lender's rights in the uPtoperty. � . . .
<br /> �=�;. ; . . then Lender may do aad pay w6atever is necessary Pro .
<br /> inciuding payment of taxes,hazurd�nsurance and other items mendoned in P�r.sgraph •
<br />_:�'-� -. ' . , . pny�o�����hy�cder under this Parag�raph sh�ll b�ome an additional debt of Barrower and be sccured
<br /> , ' . , by this Serurity IastrumenL 7�ese amounts shall bear interest from the date of disbursen►en�at the NQte tFtte.�nd at thc . ; 4.�
<br />_ ,. . . opuan 4f l.ender.shall ba,iaunediately Que and payab2e. ,
<br /> = 7. Condemnatloa. 'Ibe proceeds of any awurd or claim for dam3ges,direct or consequential.in connection wid�nny
<br /> • � � •� candemnation or other taking of uny patt of the Property.or far canveyance in piace of condemnatiAn.ate hereby�signed � . .
<br /> : . und shall ba paid to Lender to the extent of the full amnunt of the indebtednesy tP�at remnins unQaid uttder the Note und�his .
<br />� .,, • Securiry InsWment Leader shall npply sach proceeds to the reducuon of the indebtedtcess under the Note and this 5ecuri�y
<br /> : ,�:
<br /> _. ._ _ ••_ , '�.__ in,-�.'�. �r^at tcs snf d�'s�.3��t�mc+natc appl►e�l ln the order provided in Paragraph 3. and thea to prePayment of :
<br /> � ' � priacipal. Ar�Y npplicanon of the prooeeds to the pnncipal sha11 nat extene ur pastpone�f►e due da�e dr u�c raasithly =--
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