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<br /> __ L Pnynicnt oY P�•i�icipul,i�iPcrest��r�d I.i�tc l:i�u`•yc. Il��rruv+cr,h:�ll puy whcn dur�hc principal uL aiid imrr��i on.
<br />:r,,.,_-��;¢� . thc dclli cvidcnced by tt�c Notc and Intc churgcs duc undcr ihc Nuic.
<br /> �-��''' 2. 1Nanthly paymentx ot'Iflaxes.lnsurunee und Other�:har�;es, t3orrowcr�hnll include in cach mrnnhly payment.
<br /> Y_,Q���'� togcthcr with thc principal csnd intcres� �is sct fc►nh in thc Notc and any latc chnrgcs, an inslulhncnt nf any (��)tnxcs�ind , .
<br /> = spccml usscssmcnts Icvicd ur tu Ix�I�vicd��ninst thc Pruperty,(b)leatiehold paymcnt�or graund renls on thc 1 ruperty,nnd
<br /> . (c)prcm4ums for insurnnca rca{uircd by P�v,�grciph 4. • '...�;
<br />'-=z`.::L:;.'�'.� G�ich monthly instullmcnt f��r ftcros (n), (bl cuid (cl shnll cquul imc-tvrelflh of thc �annunl nmUUnts, as reasc�nably ..
<br /> - estimnted by Le�+der, plus on nmount sutficicnt w muiut�iio un .�aa���u;,.�t �alance of not more than une-�ixih �f ihe �
<br /> _��, ctiAimnted nmounts. The full nnnual :in�iuunt for cuch itcro shull b� accumulutcd by I.ender within a period endin�onc �. :t. ,;�;„>.
<br /> month bcfare nn item would became delinyuent. l.ender shull hold the amounts collected in trust to puy rtems ta),(6)and � „ ',• _
<br /> ,.,����,;,� (c)befo�:thcy bccamc ciclinqucnt. ; ° . . :
<br /> I f a t n n y t i m e t h c t o ta l o f t h e pa y m c n t s h c l d b y L c n d c r f o r i tc ros (a). (b) and fc).w Zether with thc future monthly t•
<br /> �-"-'�+3F'. paymcnts for such itcros pirynblc to Lcndcr prior to thc duc dntcs o( such items, cxcecds by morc: than onc-sixth thc :, • .
<br /> ___+�-�f���� cstirnated nmount af pnymcnts rcquire�9 to pay suc h itcros w hcn duc,an d i f paym c nts on ihe Notc arc current,then I..�:ndcr
<br /> �±±�.�.:����±, shall either refund the excetis over one-sixth af the estimated paynents or cmdit the excess over nne-sixth uf�I�e estimatecl
<br />"__����=-N; • paymenGs to subsequcnt paymcnts by Borro�vcr,at thc option of Botrower. If[hc totnl of thc paymcnts mude by Barrower ;
<br /> Y'i�ti';�,�,.� for item(a),(b),oc(c)is msufficient to puy the item whcn due,d:en Borrower shall pay to Lcnder any amount nece5sary to , Y�` �4�.
<br /> ^�.!t:sy:1;: `•' make up the deficicncy on or bcfore the date the item lx:comes due. ''��� ��' �'�''��' ��` `� .
<br />-= `��"}�'' �' As uscd in this Sec��rity Instrument,"Sccrctsuy"mcuns the Sec�tary of tlousing und Urban I)evclopmcnt or his or her •� •."r��z''-"�{•�-��
<br />--'�::�.�-• � :rY, ua[w'.iss�✓._--
<br /> �� designee. In any year in which the Lender must a .►mort a e insurance remium to the Secretary,esxch monthly payment ,,��__ _
<br />,��'�.'� shall also include c9ther: (i) an installment of thc cu►nual mortgagc imurvue pmmiuitn [o bc paid by Lcndcr tu the ��';±,;;�;'-.'=�� ��-�4
<br /> "`'' Secmt. or(ii) a monthly charge insteud of a mortgage insurance premium if th�s Serurit Instnament iti held b the a`�'�;;'-'r
<br /> �:�a�,s�.�.f uY� �',�..�T:�_.
<br />-:=_�+i�iii:,, Seeretary. L•ach mun�tily i�u�alliu�nt of the mortgage insuranee premium sl�u!!b;:in�n nm�nnty ufEicient to accumulate the �`_.�" M ____
<br />=c.•d�2.Ta�an 3_;. ..
<br />_ , full anna�al mort�agc insurancc prcmium with Lcnder onc n►onth prior to thc datc thc full annual mort�agc insurancc ��;._
<br /> �,��'z,'`: I premium is due to the Secretury;or if[his Security Instrument is held by thc 5ccretary,each mvndily charge shall tx:in an �'_��- ''_
<br /> .�ry-:-
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<br /> ' ' umount cyuul to onc-twrlfth of onc-hulf perccnt of thc ourstanding principal balnncc duc on thc Notc. �`,_
<br />-=�=�:.:�., i lf Borrower [enders to Lender[he fuU payment of all sums secured by this Security Instrument, Oottower's accouat ��==��,
<br />-•.Y,.ke..-,,: �:��=--
<br />•- =�•.�� shall be credited with the balance remainii�g for all instullments for items (a), (b) and(c):utd uny mort�age insurancC
<br />���' �'Y`� premium installment that Lender has not become obligatcd to pay to the Secrctary,and Lender shull promptly �efund any �'�''=='�.
<br /> . ;�, �.�aa,��
<br /> -�">�'� excess funds to Bonower. Immedia�ely prior to a foreclosure s11e of the Property or its acquisition by I.ender, Dorrawer's
<br />�:�,�r:-� , .� account shall be credited�vith any balance rema'sning for all ins¢allments for items(a),(b)and(a). ---_
<br />` 3. AppGcation oP Fuyments. A11 puymen►,undcr I'aragraphs l and 2 shall be ap�licd by Lender ns follows: __ _ ____.,•_
<br />-=^s:.- ; � �IRST to thc mortgagc insur.ince premium to be paid by Lendcr ro thc Secretary or to thc monthly charge by the �-,�. .
<br />-' �°'L Secretary instead of the monthly mortgage insm:3cice premium; _ _
<br />��... : �•'� tSECONp,to any tuxcs,speciul assessments,Icaschold payments or grounJ rcnts,and fire,flood and other hnzard
<br />;,;:��•r: �nsu:.s:.c gr�m:�ssns.�.�����m�; --
<br /> ��'HIRD,ta interest due under thc Notc;
<br /> : ;�.;q, �OURTl3,to amortization af the principal of the Notc;
<br /> ' F7F['H,to lntc ch:uge�ti due under the Note.
<br />' � �+�� r�• 4. Fire,Fload and Other Huzard Insurance. Borrower shall insurc ull improvemcnts on the Property,whethern�w
<br />`=r��:,= ,;�;1; in existence or subsequendy erected, against any hazards, casualtics,and contingencics,including fire,for which Lender
<br /> w�_�'"" mquires insurance. This insurance shall be maintaincd in thc amounts and for the periods that Lender reyuires. Bonower
<br /> s�r �.v:!,i;t
<br /> -=�:^�'�; shall also insure aU improvements on the Property,whether now in existence or subsequently crected,against luss by floods
<br /> _.�, pr..;• `
<br /> ;_.._.;��:,. to the extent required by the Secretary. All insurunce shall be carried with companies approved by l.endcr. The insurance _
<br />',n;-,;:3,�+�+:L policies and any renewals shall bc held by Lender and shull include loss payable clauses in favor of, and in a fortn
<br />=--=��• acceptable to,Lender. ,
<br />.^i��^�-+�a,a In the event of loss,Botrower shall give Lender immediate notice by muil. Lcnder may m�ilce prouf of luss if not
<br /> " ":.1`�: made prompdy by Borcower. Each insurance campany concerned is tiereby authori�.ed nnd directed to makc payment for --_ -
<br /> _:e`;;�;' suc(t loss directly to Lender, instcad of to Bortu�ver and to Lender jointly. All or xny pan of the insur:uue procccds may be -�'.
<br />--.:�-t:.,.•r�` -_
<br /> _,_�•,�,_r..� npplied by Lencler,at its option,eidier(a)to the reduction of thc indebtedncss under the Note and this Secunty Ir�strumcnt. _
<br />_�.,�}:,:.iL� first to nny delinquent amounts uppGed in thc ordcr in Paragraoh 3,and then t� prepayment of principal,or(b) to the �r.q,;;--- —
<br /> restomtion or repair of the damaged property. Any application o�the proceeds to the princ�p�d shall nat extend or postpone r_� --
<br />__ m�_;h'-�,;, the due date of thc monthly payments which are refcrmd to in Paragraph 2,or chnnge thc amount of sucb payments. Any �±,��- - __ _
<br /> ,��'.:�� •��•,, e x c e s s i n s u r u nce proceeds over an nmount re quired to pay all outstanding indebtedness under the Note und this Security _
<br /> I n s t r u m e n t s h a ll b e p a i d ro t h e e n t i t y l e g u l l y e ntiticd thereto. ����i��,.�__
<br /> ,;;.� In the event of f�reclosurc o f this Security Instrument or other transfcr of title to thc Property that extinguis hcs t he ;,���-----
<br /> ��',,,�. indebtedness,all right,title and interest of Borrower in anci to insurance pulicies in force shall pass to�the purchascr. '.. ° �
<br />-' ��°r 5. Occupancy, Preservntion, Maintenance and Protection of the Property; Fiorrower s I.oun Applicatfon; ,��K�. ,�,s,,,,,_
<br /> �� [.easeholds. 8orrower shall occupy,estublish, and use the Froperty as E3orrower's pnncipal residencc wiihin sixty days '�S```z;:_ _
<br /> �.f�`�"" ' after the execution of this Securit Ir_strument:utd shall continue to occu the F'ro rt ss Bottower's rinci al restdence
<br /> _ � ' y PY p�' Y. . P P `.-;�};�:�,�-- ,.
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<br /> --- for at lcast one eur after the datc of occu anc ,unless the Secret dctcrmincs this rcyuircment will cuuse undue hardship ��,;'"�
<br /> �`:,�"Y'`�." for Borrower, o� unless extenuating cireurrist u►ces exist which��are beyond Borrower:c control. Iiorcvwer shull notify �' , �`"�
<br /> '"�' `°''� "�° Lenders nf any extenuatin� circumsktnces. Borrower shull not comrnit waste ot destroy, damage or substantially chan�e ' �� '�"`""
<br /> :....�;: . ._:
<br />::3,:-;�:..;s.�• ' thc Property or allow the 3'roperty to dcterior.ite,n:asonablc�vcar and tcar exceptcd. Lcndcr may inspect the Property if thc �
<br />_ , ,,.:-+.`� Property is vacant or abandoned or the loan is in default. Lender may tuke rcasonable action co protect und pmsr,rve such
<br /> " '''" vacnnt or aband�ned Properiy. Bonower sh.►II also tre in default if Borrower,during Ihe loan applicution process,gave �',:;�;�;;
<br /> ;:�:;,w::..:::.,`�
<br />."'r„_
<br /> �`;•�, materi111y false or inuccurate infom�ation or swtements to Lendcr (or failed to provide Lender with any material •
<br />;�;,�•,�'�,�•�,;: informatton)in connection with the loan evidenced by the Note, including, but not limited ro,rcpresentntions conceming -• �
<br /> "" �, Borrowet's occupancy af the Property as u princip:l msidence. lf this Secunty Instrument is on a Ieaschold,Borcowcr shsll
<br />:':;����:;r:-��`.f�• comply with the provisions of the lensc. if Boaower acquires fce title to thc 1'roperty, dtc Icaschold and fce title shall not i
<br /> "��::;�::; .,• .• bc mcr�cd unlcss Lcndcr agrces to the merger in writing. „
<br /> � 6. Charges to Borrower and Protection of Lender's Rights in the Pro�erty. Borroivcr shull pay al!govcmmcntal
<br /> "��'�c'��;�~ or municlpal cltarges,fines and impasitions that nre nnt included in Paragr�ph 2. Borrowrr shall pay these obligations on
<br /> .:S,•E._.s_ '
<br />- -��:��;::. time directly to the cntiry which is owcd the puyment. If failure ro puy would ndvcrsely affect Lcnderi intcrcsc in the
<br /> ' ' "��"'� Property,upon Lender's reyuest Borrowcr shall prompdy furnish ro Lender rrccipts evidcnc�ng these paymen�s. �
<br />� ,:.
<br /> "��� If liormwcr fails to makc thcse payments or the paymcnts rcyuired by Paragraph 2,or fails to perforni any othcr t
<br /> -- - . . .___�__._ ___._:_.�__.�.:..C�....»�.,t».,�......o..� •w�hnrn ic:�Ino:d r,��,r�rdin�thnt mav x�enific:uidv affect I
<br />_.:c7t "--_:...y,,�•_ CUYCRi17lt3 tQN ifjjlC�lttctlW�.vnw..�tu.n m.�w..v�u� ...o...........�.--'."_'_ '____o��'._ . .., . -. -
<br /> ��r��;�•-_ 1,cnderS rigt►ts �n the Property(such as a procceJing m I�anlwptcy.for condcmnation or ro enforce laws or regulation5), I- �-'�
<br />-- <;,.., A►cn Lender miry do and pay whatever is necessary ro pmtcct the valuc of the F�-operty and Lender's�ights in che Propeny,
<br /> �'�� ''� t'� includinQ paymemt of t:ixcs,hnznrd insur.incc s�nd other rterns mcncioncd in Par.igraph 2.
<br />'�' ''��•;�'�F ' Any amounts disburscd by Lcndcr under this P;+ragraph shall becomc an ttJditional dcbt of Borrowcr and bc secured '
<br /> ';:-;;E.��., by Ihi:,Scc:urity Instiument. Thesc amounts shidl bcar intc��cst fmm ihe datc of disburscmcnt,at the Notc ratc,and at the
<br /> ~ �� -^as- option of Lendcr,shall h�;�mmedtatcly due und payable. �
<br /> 'M ' ' " 7. Condemnatbn. The proceeds of any aw;ud or claim for damagcs,dircct ur�:onseyuential,in connection with any �
<br />- • condcmnation or othcr wking of any part of thc Prciperty,or for convcy�nrc in placc ot'condemnution,arc henby assi�:ned �
<br />, �uiJ shull be paid to Lendcr t�the extent of die full umount oF thc indcbtcJness that remains unpaid undcr the Notc und this � •
<br /> 5ecurity Instrument. Lender xhall apply such proceeds to the�reductiun uf tlie indebtedness under the Notc and this Security i
<br /> '�'i� �'' ' Instniment. fint ro any dclinqucnt amounls applicd in thc order proviJed in Par.+graph ;, and thcn to pcx�paymcnt of
<br />'=:..k..v� 1�';0 . I
<br />-_-•1;uz -• '. .`•' principal. Any application oF the proc:eeds to the principal ,hall not cxtend or postpo�ie the due date of the rnonthly
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