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<br /> --� _�`-''"' `". ��- . . . L Psym�nt of L�riasipai,Yntee�st�nd Late��•,Bomower shaU pag�whea due��'r�n�spal o.Y"und-interest an. _� - -
<br /> - ��...
<br /> � *t = t �. ' t1�e debt eviQenced By tAe i�tote und late charges due un�er the Note. __
<br /> =M� ��' :- Z. MoatbSy pa8menb of'�taaes�Insuramee ta�d Other Chs�ges. �orravrer shall inciude in each monthly pa�nens. _
<br /> �_� ` .:�; to�ether�vith the prtnclpai and interes�as set forth ia tl►e Pio1�e assd�any tate charges,an iastall�ent of any(a)bxes an�
<br /> „ ' '` , ' - s�ciat c}ssessmen�tev;cd or to 6e te6 ied a�inst the F�op�ty:(b)tc�sehQld paymenu as grouad c�nts on tPce PtopeaY.an� ___��
<br /> --T�.��. <<` � . t• , {cr pmnuums for insun3nce mqui�d Dy�Parag�ph4. ' . - --
<br /> :�'` ��'� `. '. . . F�Ct�morithly irupllmeni for items(a�.(b) and (c)shall.es�ual one•twelfd� of tRe annual amounu. as�ssonl6ty _
<br /> �' � ----__
<br /> _ � " -. � estisjtst�d bY i�n�r• pSUS 8t3 1iU0lli1L SUfftCieflt t0 maintain en add�t�or►al b•alance of nof mare than mtz-sixth of the --
<br /> �,`� ; .., � estimat�amounta. '[Lt fuli annual amaunt for eac6 item shalt rie accumulated by Lender rxitt�n u prrind endictg crsee = -
<br /> �:�.... � ' month befoie an item wouid�hecome deiiaquen� i:ender shatl hoid tlte amrnmts caitec4ed in trust to 5►ay items(aD.(b)ard _ ,--
<br /> --• ;ti, .
<br />:`:;c��:,�, �, . (cy•before.theyii2camedet9nquent = --
<br /> " ro3�c�),wgetiter wut►th�fun,�e maa,thty
<br /> '�=-��::::.�r__,.:,-� jf at any nme the total of the payments hcid 6y l.ender for items(a). -
<br /> �'�`�` . payments for susb items payable to Leader prior to tfFe due dates of sucb�tents.euceeds by more t�sa ot�-sixth tI�
<br /> �,�:: �=. . estimated amount of paymems tequired to pay such items when dae,and if pa ents on the Niote ate ciurent,thea Lender
<br /> ,•'. � s(ial(either refimd the excess over one-suth of the est�nated paymcnts az�t1ie excess over oae�six�t►of ti�est�onated
<br /> __�^ ` payme�s to subsequent paytnenrs by B�rrov�res.at the optioa of Borrower. If tlte mtsl of the paymeuts made by Barrawer
<br /> '1?'j'��'� . � for�tem(a).(b3.or(c)�s msufficient to pay the item when due,then Bom�wer sha!!pay to I.tnder any amoumt aecessary ta ,
<br />,Y,�.�..'.: :.:.�'�,:.;...; , �
<br /> -y�:s. .make up the defictency on ar before the date the item becomes due. of Hausin and Urban Devetagment or his or t�er
<br />:°��r„ .° ' � , � As usecl iri t6is Secatnty Instrament."Sesretary"u�eans the Sec�,etmY S ban
<br /> -��'-%�' .�:' ��:'' �' designee. In any year in whicfi the Lender mvst pay a mattgage insurance Premiam to the Sectetat5►•each�antl�IY PdYmeat '
<br /> shall atsa include ei.:�er. (i) an astallme�t cf tfie arnnal mottgage insurance premium to be paid by Leader to tt� . .
<br />�:��.;'�' um if this Seaui Insttument�s heid isy the ',
<br /> " � • � ' Secretary,or(ii)a montlily charge instead uf a mort���um�s�hal!be id an amoun�sufficieat m accumutate tlte .
<br /> ��`�;.' .:_ � .�_ ,` S�r. Fach moatLly instaltment of ttie mortgap,'
<br /> , full a.�nuat mortgage in.�vrance ptemium with Lender one manth Paor to the date the full atmual rnortgage ins�ce
<br /> � . . ��•-� premium is due to t�Secr�aty:of��S�Y����I�by the S�.each montfily charge shall be I�an
<br /> . r: �- . :' ,,,,� �. _ . arriount equal to ane-iweltih of one�lmlf pencent of the ouistanding.griacipal6ala�lce dne on the Notc. � .
<br /> ' F . ..:l;,�i``, if Barrower tende�to Lender the full payment of all sums s�by this Security Insaument;Barrower?s account
<br /> •��,� � shall be cTedited with the balance remaiaing for sU u�stallmeats for items(a).(b)and(a)aad any martgage insru�ce .
<br /> fr:�,�r . ; ,
<br />.y '� ; '. ...;� ,�. . premiva►instaWnent that Lender has aot become obliguted w pay to the Secsetary.and Lendea shall Framptiy nfimd.
<br /> ;. Y •. ..'`• .. ,
<br /> --?i;:�._'..__...,t_.._,.` excess funds to Bamower. Immediately prior to a foreclosiue sate of the Property or its ar,qWSitian by l.eader,Borivwer
<br /> -:r;'r,x :, unt shall be csed"ited with any batance remaining far al!inshallments for items(a),(b)an�(�?.
<br /> ,.•s+i:��:"� ,.. . . �3, Appl�caLtoa o!Faym2nts. All payments�inder Patag�a�hs 1 and 2 shall Ise applied by Lender as'follaws:
<br /> � � FI1tS7'.to the mortgage insurance P���be paid by I�ender to the Secretary asr w the monthly charge[ry the
<br /> •,"•.•�: .� Secretaiy instead of the monthiy mortgage sasurance Premiam: .
<br /> s•�•. � �ECOND.to any taxes,special ass�s�ne�s.teasehotd payments or gmund�ats.and fite,flood ap�other isa7ard �
<br /> �`.�(;��n'.'�' ' . ILSUt811CC'pI�LUID.4.SSfBQ111T�� .
<br />_� ,��4'(�/'";.' � . . to u�t�s due under the Note; '
<br /> ',�., � �O�to�ortization of the principal of the Not� • •
<br />- .,� �<;s's'�'s.;,�, i�'1�,w tate charges due ua.dra the Note. vvhether n�w .
<br /> � ' .•>;:'s��� •� A.Fir�Ftood aad Other Ha�ard Ias�uance. Borrower�a11 insure all improvem��n the Pmperty.
<br />:� _ .. . •`�yI�:'` '� in eaistence or subseque dy erecv�f,against a�►Y hazaids,cas�lries.and contingencces.�r�ctuding fue.for whic�Lendes �
<br /> ceyuires insurance. 7'6isninsvrance shall l�maintamed in the amountc and for the periods that Lender requires. Bmmwer
<br /> .;,S '. , ... ', ,. '� shatl atso ins�ue all improvemenu on the Ptoperty,ahether aow in existence or subseguendy erected.agaiast loss bY floods —
<br /> . w the extent ued by the Secnetary. All insurance shali be carried with wmpanies approved by Lender. T]ie uisurance --
<br /> '�,r> :. ' . ' pulicir�and�renewals shall be held by Lender and sha� snclude loss payable clause's in favor nf, and in a.form
<br /> � acceQ(sti»le W.Lender.
<br /> (st
<br /> J •� In fhe event of loss,Borrower shaq give Lender immediaie notice by mail. Lender may malte proof of loss if not w��:
<br />__:,���?,. . � made pro��tly by Borrower. Each insurance wmpany concemed is hereis�2uthorized and dinected to make payment for �'
<br /> i'_i.���• • . • such toss duectly to Lender.uutead of to Bomo�¢r and to Lender jointly. t�IT ar any part of the insarance proceeds may be
<br /> --�"=��;;=.•�-:>; . applied by Lender.2t tts option,either(a)to the c*�uction of the indebtedness under the Nate and this Seeurity L�stcamenL
<br /> -�°�` ,"',.•. "; first w any delinquent atno�mts a�plied in the oider in Paragrdph 3.and then to preQayment of principal,or(b)tv the �
<br />'�''`°, ',� ,-' '���a;f�' � • testor�ion or repa�r of the dsma„�f giopertY• AnY apptiration of the praceeds to the pnnc�pal shsill nas e�tend or postpone •� �
<br />-�` �';f��ir`� � the duie date of the monthly pa}mens which are refe�ed to in Paragtaph 2.or change the•amount of such payments. Any
<br /> -~.��•'� ` Y:. ' eacess ins�uance Procceds over an amount requ'ued w pay u I outstanding�r►debtedness under the Note and this Security , �
<br /> �_ „ � . ` Instnuttent shall be�aid to the endty tegally enwl+d thereto. , -�
<br /> *.'� ' ' In the evect o�foreclosure of this Secwity instrument or other Uransfer of tide to the Praperty dfit extinguishes the
<br /> �•: . . `�_
<br /> �= . ��. indebt�s,alt��,tide and interest of Barrower in and to insurance policies in force shai!gass to��urci�aser. � ,
<br /> F: • .. . � Oocupaacy,PreservatIoa, Mainteaaace and["mtectton of the Property;Iia�rower's l.aaa App9icatton; �
<br /> p9ic
<br />_°-�'' •• . • Le�s�.�vaids. Boarowec shall accupy,estaWish.and use�r.Fr�perty as Borrower's prinsipal residence within sixty days �.•'_
<br /> -`c�„•:�. . aftet the eaecutian ri this Securiry Instnunent and shall can�nue to occupy the Property as Borrowers principal residence . _ :�;_:.,;,,-:�,
<br /> '""'`' • for at least one y�-'�fter d�e date of occupancy,�mless the Secretary detemuaes this ceqwrement will cuuse undue hardship
<br /> trer r�,"
<br /> � � for Bortower,or»r►Iess extenuating circuirist�es exist which am beyond Borrower's control. Bornzwer sha11 notify . ' �:,�;- '
<br /> , � : . .
<br /> ��=y • • Lenders of any extenuating ci�umstances. Bortower shall not commit waste or destroy,damage or ss'ostantialty change • �:
<br /> ��, .
<br /> `:� . �•. � � ;;, the Property or aliow tIze PropertY�to deteriorate,reasona6le wear and tear excepted. LeRder may u�spect the Property yf Uhe ,.;_ _
<br /> ' � �:•st�� �s vacant ot abandorred ar t�e loan is in defauit. Lettder may take reasanable action to protect and preserve such :,,;�-
<br /> n {.�. �_
<br />-�:�.��" �• .�• . , v�or abandoned Ptoperty Borrower shall atso be in d e fau lt if Borrower.durin g dte loan application pmcess.gave � . ;•. .
<br /> � • materially false or iaacc+rcate mfom�ation ar statements to l.ender (or faiied to prouide L.ender with any matenal
<br /> � infoTmation)in co�mection�rith the loan eviden�ed by the Note,inctuv�ing,but not limited to.representations conceming
<br /> � t� � '� • � Eorrower�occupaacy of the Property as a rincipal residence. If this Seturity Instmment is on a leasehold.Boirower shall � :: �•
<br /> p n
<br /> �.:-' . comply with the provisions of the leas8. If Bomower acquires fee tit2e to the Propetty.the leasehold and fee title shall not . ,;,,,:. •
<br /> . .., ,,+,
<br /> ''�`� .: . 6e me�ed tmess Len der agRes to t h e m e t g e r in a v rt t i n g. .`�+%.>: .
<br /> •'Y . • ' 6. CAargc9 to Batrower aad Protettion oll.eader's Rig�ts in the Property. Bonower shall pay all govera�ental .
<br /> :.°#. � os mwiicipal chatges.fines aad imposi6ans tbat a�e nm included in Paragraph 2. Bonower shall pay these obt�gations on
<br /> ' ' � time d'uectly to the entiry�vhich is owed the payment (f failure to pay�voutd adversely affect Lender's interest in the . _
<br /> . � _ _ property,upnn Lender's tequest Borrower shall prompdy fumisb tu Lertder t+ece�pts evidea�ing these p�yments. � � .
<br /> F�ragraph 2.or fails to erfonn any oihei
<br /> . If Botrower fails to make these pa}!ments or the:payn:ents crquired by F
<br />_-'�.. .� ` enants aad a ments cantained in this SecuritY Inshi�ment.or there is a legal proceeding that may s�gnifirantly affect . .
<br /> ' ; � � � Lend�r's rights�e�mpesty(such su a pmoeeding dn bankn�PtcS►•for�ondemnauon ar to enfo�e laws or cegulatians). _ �
<br /> " Ehen l.ender may do azsd pay�Nhatever is necessary to pmtect the value of the Nroperty and Len�er's righu in the Property. .
<br /> including p�yment of taaes.hatard insumaes and other items mentioned in P3ragTaph Z. .
<br /> � pny amounts dis6iused by LerWer undcr this gara�b st�a11 become an additional debt of Borro�ver and be seciued .
<br /> _- . . by this Secun�y lnsuument 7liese amounts sh:ill bear mietest from the date of disMusement.at the Note r�te.and at the . •
<br /> . . opuon of Lender:st�all 6e immediateiy due and payable. . ,
<br /> .• •. 7. Coade�ttgoa.'17te proceeds of any�ward or cLwn for dnmages.direct or consequential.in cannecaan�vith any . .
<br /> _ ;> . .
<br /> - •., ..
<br /> • . •' • candemnation or ot6er takin�of aay part of the Yro�erty.or fos conveyance in place of rnndemnation a�e hereby�ssigned .
<br /> : . ., . ,
<br /> -- •.. � � _:�, a�shall he gaid to.Lettder to the exRent of the full amount of tPte indebtedness that t+em.uns un�id under the Note and s
<br /> -- _
<br /> , � 5eciuity Instrument Leader shzIl apply sacD pt+aeeeGs m[he ceaucaan vf ti�c uc�ri�t�Z�uader t4�n�+:�.:sts+shis :�.+*!!y --=.1- ;:.- -
<br /> . � . .. . � �C'c�paln�AnytaFplicatia afuthe proseeds t��th princ p shal!notVe tertd or�s�tpene thed e�datQ af�the monthly
<br /> . . ' . . . ' .. �page 2 of@ p4Zes! ' .
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