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<br /> ' ppymcnto by Borro+vcr, nt lho opi�on ol �orr�wor. II tha tolnl ol ►ho payment� mud� by Borrotivcr fcr Item (n), (b), �r (c) la
<br /> Inoutllol�nt to poy Iho ilcm whcn duo, Ihen �orrovrC� �hnll pny lo L.Cndcr nny nmount nCac�oory to malc0 u� tho doifcl�nay on o� w•
<br /> bcloro �na dato tho ftcm bccomaa �uo.
<br /> � Ao uGOd ht Ihla Sccudty Inatrumont, "Socrotary" mouna lho Socrotary ot HouRinp ttnd Urbart 6ovolopmonl or hI3 or h� . -�-
<br /> �"�-.
<br /> ' doubnoo. In any year In a�hbh ln�Londor muat pny a mortpaflo Inauranco premlum to tha ueCr�lary,osch momt�ty paymCnt eha „ . --
<br /> ' nlso Inoludo olthor: (I) an hstal'mont al tho nnnual morlpngo InsuranCO promlum to b�paW by lt�ndar¢o ll�o Sncrolary, or (II)�j •
<br /> monthly oharpo Inutaad ol n mort�;npo Inouranco promium II thls Security In3lrumont le held by lhe Socrotnry, C-aCh monlh�� ___
<br /> hstalimont of the mo�tpapa A*�eurance promlum shell bo In nn nmount cuttkient lo acaumuktte the lull unnual mortpapo Insuranc� -
<br /> premium v,l;h Londor ono month prlor la tho dato tho lull nnnual mortpopo Insurnnao prsmlum ia duo to lhe Socretary, or it Ih(�'
<br /> E�ur�iy Instrumo�l la ii;�:�J 6y thp S�crotnry,c�ch monthly Chnrp� flhnll be In nn amounl aqual to onatwatRh o}onahnlf percon� `a�A
<br /> af the outetandlnq prinolpui baknce due on the Note. �� ��`
<br /> 11 Borrowor tondora to Lender tho full pnymont ol n11 sums socurod by thls SeCUrily Instrument, Borrowrre acCOUnt ehall b �� ,_.
<br /> croditod wlth thv balnnco romuhinp for nll Inste�lmonts lor items (a), (b)nnd (c)and any mortpago Insurenco premlum fnstallmon� „ :j�
<br /> that Lendor has not bocome obligpted to pny to the Secrotary, and Lendor sha11 prompiy retund any exce33 lunds tv Barrowar:'� . :�
<br /> Immadlatory prior to a torociosure sale of lhe PropoRy or Its acqulsltlon by Lender,Bonowe�o account shell be credited with any :� ,�.
<br /> . balnnce romalning lor all InstnlMents tor items(e),(b)and(c).
<br /> 3. Ap plicatlon o4 Payriients.All pnyments under parapraphs t nnd 2 shel!bo apA�!�d by Lendor ns tollows: °�i+:
<br /> �• � FII'8t to the mortqage Insurence premlum ta bo puid by Lender to the Socretary or to the monthy charge by the Socretary ��_-
<br /> Instead o}tho monthty mortpage insurance premlum; „ ••��
<br /> Second� to nny texes, Bpeoisl nssessmonts, leasohold payments or pround rents, and f1ro, tlood and othor hnmrd •
<br /> hsurunce premlums,ea requMed;
<br /> Third! to Inlerest due under the Noto; i�'
<br /> FOUft►1, to nmortimlion o}the principal ot ihe Noto; +r�
<br /> - Fifth, to late charges due under tho Note. �
<br /> . ,1� .
<br /> 4. Fire, Flood and Other Hazard Insurance. Bonower shall Insure an {mDrovemonts on tha Property, w��a�ner ..
<br /> now In existance or subsequently erected, ageinst eny hazards, casuaitles, end conthgertcbs, Naluding fire, tor vrh�h Lender .� --•-
<br /> ' requires insurance. 7hts insurnnCe shflll be melntatnod in the amounts end for the pedads that Lender requfres. Bortower 6hall � .�_
<br /> also insure all improvements on the Property, whether now In oxlstence or Subsequctntly orected, agAlnst toss by floods to tho . �
<br /> extent required by the Secretary. AII Nsurance shail be carrlod with compenles approved by Londer.The Insurance policies and �_
<br /> eny renewels shall be held by Londer and shall include loss payable clauses In favor of,and In a lorm acceptablo to, Lender. ,. �
<br /> In the event of loss, Borrower shall giva lander Immodiate not�e by maii. Londer may make proof of loss it not mado ���
<br /> promptly by Borrower. Eech Insurance compuny cancemed is hereby authorized end dfreotod to make paymnnt for Buah loss • p`
<br /> diroctiy to Londer, Instead of to Bortower and to Lender Jolntry. All or any part of the Insurance proceeds may be applted by ,
<br /> Lender, at its oppon, either (a) to the reductlon of the Indebtedness under the Noto and thls Socuriry Instrument, first to any • �,�-'
<br /> delinquent smounts npplied In the order tn Paraflreph 3, and then to prepnyment of prinaipal,or(b)to the restoretion or ropeir of ��:=
<br /> the damafled Property. My nppikatlon of the proceeds to the principal shall not oxtend ar pOStpono the due dute of tho ,��,Sa�` _
<br /> monthlv pavments wh�h a�o referred to In Paragraph 2, or change the amount ol suCh payments. Any excess Insumnc0 ,'..: ' �-
<br /> - - l „�� ,� �...y.�-:_-
<br /> proCeeds over an amount required to pay all oulstanding Indebtetlness untler tne Noie nnd this Si:i:uiiiy i��si�v���a�.i st�a��...,,7�•.. I � ,
<br /> to tho entity legeny entitled thereto. r
<br /> In the event of foreclosure ot thls Security Instrument or other transfer of title to the Property thet extinguishos the I `I� �!�� <<
<br /> � t.::. ;..
<br /> Indebtedness, all right,title and Interest of Bortower In and to InSUrence polfcies tn lorce shall pass to the purcheser. . ,�,� .
<br />� 5. Occupancy, Preservatfon, Meintenance and Protec4lmn of the Property; Borrower's Loan . ..,
<br /> ' Applicotlon; Leaseholds. �ortower shall occupy, establish, and usa the Property es Bortower's princtpnl residonCO within I :M , ,
<br /> sbcty days aRer the oxoCUtton ot thls Security Instrument end shnll continue to oCCUpy tho Property fls Borrower's p►InC(pal � � �R
<br /> , residence for at leust one year after the date ot oCCUpancy, unless the Sacretary determines this requirement wlll cause undue �
<br /> � herdship for Borrower, or unbss extonunting ctrcumstances exist whbh are beyond BoROwers controi. Borcower shall notily •
<br /> Lendors of any extenuntNg Ctrcumstances. Bortower shell not Commit waste or destroy, damaye or substanttally ohenge the ; „ �
<br /> Property or allow tho Property to deteriorate,reasonabla wear and tear oxcepted.LendOr may hspect the Proparty �� the Property , •
<br /> Is vaaant or abandoned or tho loan Is In doinuR. Lender mey tske rensonabb uctlon to protect nnd proserve such vacant or i •
<br /> ab�ndoned Property. Bortower shnll ulso be In default If Borrower, durfng the loan eppitcatlon procoss, gava materlally faise or
<br /> Inaccurate Information or statemonts to Lender (or IaVbd to provide Lender wflh any materlai Informatlon) In connectlon with the , ''',�;•'!`�,. t
<br /> loan evidonced by the Note,Including, but not iimitad to,reprpsentations concerning Borrower's occupancy of the Property as n ' `�,,,• � ��,
<br /> principal resldence. II thls Security Instrument is on a leasehold. Borrower shall comply wlth the provlslons of the base. If
<br />- BOrrower eCquires fee title to the Property, the �easehold and �ee tRle shnll not be merged unless Lender agrees to the mergor In
<br /> � writ(ng. '
<br /> , 6. Charges to Borrowe� and Protecti�n of Lender's Rlghts In the Property. sorrower snnn Pey aii �',��:
<br /> governmantal or mun�ipal chargos, (Ines nnd impositions that are not included in PRr&graph 2. Borrower Shnll pay Ihese �r�
<br /> •, obiiptttlans on tfine direcly to the entity which is owed the pnyment. II (eiiure to pay wouid adversely eftect Lpnder's interest in
<br /> Ihe PrGperty, upon Lender's roquost Borrowor shali promptly furnish to Lender reCefpts evldenCing thoso pnyments. r .;
<br /> If Borrower tells to make thoso�tsyments or the payments roquired by Puragreph 2, or talls to poAOrm any othor covenanis . � �'�
<br /> end apreemonts contatned In this Securky Instrurnent,or there Is a legal proceed�nfl that may slgnlfk:antiy sffect L9nders rtflhts In . ;
<br /> tho Property (such as a proseoding in bankruptcy, for condemnetion or to onforco iaws or rogulations),then Lender may do and
<br /> pay �vhatevar IS necessury to protBCt tho valuo of the Property end Lenders rights In tho PropoAy, Inciuding pnymant of taxes, �
<br /> hazrird Insurnnce and other Items mentloned fn Paragrnph 2.
<br /> My amounis disbursod by Lendor undor this Perpgrnph shnll bocome un additlonal debt of Bortower nnd be seCUrod by �
<br /> this SaCUrity �nstrument.ThoSe nmounts shall bour interesl trom the date of disbursemont,at the Nolo rato, and at the optbn of
<br /> Lender, shell be Immedlalely due ond paynble. �
<br /> �. Condemnation. Tho proceeds ot any nwerd or clalm lor dumagos, direct or consoquontiul, In connectlon wllh nny
<br /> �. Condamnation or othor takl�p of nny purt ol tho Proporty, or for conveyance In pktca of cOndOmnatfon,aro hereby essigned and �
<br /> shali 0v pIIld to Lendor to the extont o1 thp lull nmount ol tho Indobtedness lhul rornhs unpaid under tho Nolo nnd thls
<br /> SeCUrity Instrumont. Lender shnll eppty such procoods to thu reduction of the Indebtadnoss under the Note and this Socurity
<br /> Insirumont, first to uny dollnquont umaunts tipplied in the ordar provldod In Parflgraph 3, nnd then to propayment of principni.
<br /> Any epplicntion of the proCOOds to tho principal shnll not oxtend or postpona tho due dnt� ot tho monthly pnymonts, whfch are
<br /> _ ro�enod to In Paragreph 2, or chenpe tho t�mount of such payments.My excess procoeds ovor an amount requlrod to DaY all
<br /> � outstandinp tndobtodness under tho Note nnd thfs Socurity Instrumont shnll ba pnid to tha entity lepally entldotl thereto. `'
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<br /> . 8. Fees.Lender may colbct toes and chargus nuthorizod by tho Secretary. .
<br /> 9. Grounds tor Accelerntlon a! Deb�
<br /> (p) DB�9UIt. Londor may, except ns limitod by rogu�alions issued by tho Sacrotary in t�+o cnso oi payment dolau�ts,
<br /> roquiro immediate pnymsnt in full ol pll SumS SoCUrpd by lhis SoCUri�y InStNmont If:
<br /> :, (I) Borro�ver defaults by tallinp t0 pay In lull any monthly poymonl roqulrod by lhis SoCUrdy Instrumpnt prior to o� on
<br /> � tho duo dalo of tho ne�R monthty poyment,or
<br /> (ii)Bortower dolnults by Iniling,for a period of thirty days, to perlorm nny o:hor obl'gation,contn�nod in this Security
<br /> Inslrument.
<br /> � (b) Sole Wfthout Credit Approval. Lender shull, il parmittad by cppliCabb 13tiv and with tho prior upptoval of lho
<br /> �. Secretary, roquiro Immodiato peym�nt In f411 0l all tha sums securod by this Seeurfry Iristrument II:
<br /> r•se+aiNn�a�oe� a�o•s o"
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