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<br /> - , f�_�lt,iSifi��y' �i,t}:lili;l�.l 6�A ��:Fi,hi��li".::i-.;l�i�^".'.(�:?it Q�lilf.i Q.�h'.�C;'�. t�Uii61':.:i t:jl::�� i.i:4�ilt�;:1:: C.'::i!fi; +f�-���.� �:.,;r54• '� ..�.
<br />. fll�;°lttk'i W11�1 l�il' �Il�kt:'{f1;1� ::tlV lil�lii:l.l 31`i F.L'1�0)'Iil i�i l�iC �l%IC iiti(� _l{lj� �:��e Ch;ir�.t�;,�tl i{?Yt;!��li?•.'1.1 f1f btel' Z31 f���•�•' ;�i:ti —
<br /> �Fxcia� c',;��,:.���cat;1c�9�d nr to Oa lo4i=cD a��;.�n•:1 aiic h'f'u�t;:yty.lir) fc:i�.�ho',c1 payt���i�t�.u,�rat���d r.•nt�� tm lii::4�i�:��iry,:�,til _
<br /> (c)pie na{u�n�fc�r i�tsurance reyu;red hy F�ixnaruph�i. .
<br /> ���rh s,m�uliiy i�t4Ldhzi.ut fm• itcnr, la�.(lv)micl (c}� sl���II c!}+�ai m�c-te;•c1f16 uf tltc annu�i nmounls, nti rea���nnbly
<br /> CSGi11aLC(I bf7 f..CIti1Ci,�ItP:tttl iq�It>UUi tttia��tit ti(J iiiaittlaJu.�A..:IdIliO�:ai ti.",.�1.��r fSO�Il"�tC fS:',q l�il^-tifhl�l�1`(�it:G:,UIIiSIC�)
<br /> it�uwtauld becolrne:dcla�yuent�t 1.�ndcrChh�lS hold ttc��maurat�call ctect in trtsst ro n�i�i em(a),�lb) �cd�(c)he�rar�h�Y
<br /> P�Y
<br /> bccnnte dclinqocnl. - ,�
<br /> f S nt nny titrc thc total of thc pay�nents hcid b� Lcndcr for itc�ns(a). (b) ar.d (c?, togcthcr witl�thc futurc manthly
<br /> ��.y�n��cg r���,«c>>�c��ns�;►yc�ble to)..cndcr prior tA thc due dates af'such itcm�,exceeds by m�n than ono-sir.th dip cstimated
<br /> �rrwuni of pay�nents rcquircd to pay sudti iteins wheu duc..and if p:p�hienGs on thc Notc ai� i'um�3t, thcn �,c�tder
<br /> aliali r.ithec rcfu�d th:,excoss ac:x atie�:icll� �f�he��timat�d p�yment�or credit ttie exce�s over one-sixth aff the estirnated
<br /> far it�e n(n).(b),or(c)i n n uR cicnt tR pay tiic i c�m wlien�luc,t B n Do�rowcr shall p.y tot[.cndacr�l �1R1UT ttiICCCSS(17Y Ib
<br /> mxkc up Ghe�dciiciciicy on or befa�c the date thc item becoma5 duc.
<br /> As u4cd in tliis 5ccurity lnsuvment,"Secrtary" mcans d�c Sccret:uy of Housing and Urban DE:velo�smcnf or his or her
<br /> dcsi�rnec. in tmy ycsu'in�vhich Q�c Lcrxdcr rsiust pay n mongagc insurar,cc prcmium tr,dic Sccrclary(or arry ycar in�vhicii
<br /> such pmmium would liave becn requaed if the Lcnder still held the Si:curity Iastrument),eaclj monthly p:�yment sha11 also
<br /> include either. (i)an insta�lment oY'the annuat mo;tgage insurnnec pre�nium to be paicl by Lcnder to►he Secretury,ac(ii)u
<br /> mu�et's.iy c�i;uga i�stead of a mu:tgagc ic:urae:ce�smre:ie�m.iF tlZis Secnrity Instrument�s.held b�thc Secretary. Each mont8[y
<br /> instaUmcnt of die maitga�e insurnncc psemium sha�! be in an amuunt sufficient to accumt�.L�:e d�c �iuli a.nnual martgagc
<br /> insurance�.mmium �vith l.�:nd�r on�o month prior to the da[e the full annual mortgag� inst�r.�nce�remium is due ta the
<br /> Se�reiary or if this Security instrument is helci bY the 5ecrcu►ry, eucYi monU'�ly ch�rti:. shf�41 by m na �mo�nt rqull to
<br /> onc-twcifth oFone-half perccnt of the outstnnding pnn::ipal balance due on die Note.
<br /> If Buirower tenders to L.ender the full pay ment of aIl sums secured by this Secuciry [nstrument. 8orroti��er's account
<br /> shall bc credited vrith the t�alance rtinAininb for nll instullmen�, for items (A). (b) and (c) t�nd nny mortgage insurancc
<br /> preniium installment that I.erider has aut bccome obligatcci to pay to thc Sccreuuy, und LencJcr sfhall �mntpdy refund��i,ia�
<br /> cxcess funds So Botrotvcr. Immcdintely prior to a foreclosure saie of the Property or its acquisitian by J.,endcr,BorrowEri'•i
<br />_ uscovnt shall b�,cn;dited with any balance rernaining for a1D instnllment�s for it�ms(n).(b)nnd(c).
<br /> 3.Appliration a���ayments. All payrnen�s under t'aragraphs 1 and 2 shull be appliul by l.ciicler as fol[o�vs:
<br /> �oc-r,��u�;�,.;;��,���,,.,���;.,,,,n�„ nrcrc�ium to bc pafd bv�.ender to thc Sccrctary or to thc►rsonthly charge by •
<br />- thc Secrctary►nstcad of ihe manthiy mortgage insurance prerniu►n; '
<br /> gErnN�, ��y t�Y�c; c�r.ial acsessnunts,lcaschold paymen4s or ground ren45, ansl 6re.flood and ather
<br /> hazard insur.u►ce premiums,as required; , '
<br /> THiRD,to intcrest due urtdcr the Note; • � :.
<br /> F_�uFtTH,to amorti•ration of thr,princi�al o�'the Notc; . . ,
<br /> �(FI'�I ,to latc chnrges due undcr the Notc. `
<br /> 4. E�re,F7oai and Other Hazurd Insurance. Borrower shall insure all improvemz�its on thc['rnper►�.'.whe.thcs nc��V•
<br /> in existence or subsec�uently emcted,a�ainst nny hazard�,ca�u�lties, and cantingencies, incluc�ng fire,foi which A.eneler
<br /> requins insurancc. 'i'his insur:tncc shail be m�inta�rtcd in die amounts and for the periods tmat Lendcr reyuires. Bo.rciwer
<br /> shal! also insu�e all in�pn►veme»ts on the Pro�crty,�vhether no�v in cxistcnce or subscquendy eicotcd, agamst loss by flbods
<br /> to the extent royuirvd by the Ss;cretary. All msurance shall be carried wilh companies approved[�y Lender. 7'he insuraacc
<br />_ polici�und any ren�wals shall be hcld by l.ender and shall include loss payable ciauses in favor of,and in a form ucce�table
<br /> to,Lender.
<br /> ln the cvent of loss,Bflrco�ver shaU give Lender im►nediate notice by maiL Lcnder m�y make proof�f loss if not madc
<br /> prompQy by Borrower. Ecich insurance campany concemed is hereby autt�oriud and directc�l to mmlce payment for sueh loss
<br />- directly to Lcnder,instcad of to Aonower arfd to Lcnder jointly. All or any part of the insur.�ce procecds may be applicd by
<br /> i.cnder,at iGs option.eithcr(a)ta the reduction of the indebtedncss undcr the Note and this Security Instrumcn�first to nny
<br />= delinqucnt umounts applied in the order in P-ua�raph 3,and then ta prcpaym�nt of principal,or(b) t�the restoration or repair
<br />- of thc dn�naged property. Any npplication of��ic praceeds to tlie princ►p�l shall not cxtcnd or postponc the due date of thc
<br />- monthly payments which arc refe�rcd to in Paragraph 2, or change the amount of such payments. Anp excess insurance
<br /> procceds over an amount required to pay atl outstanding indebtedncss under thc Notc and this Sr.�urity Instrument sha!!bc
<br /> p:ud to the cudc�lcgally enntled thercto. _
<br /> ° !n the event of foreclosun:of this Security Inswment or other transfcr of titic to the Pcoperty that exting�iish� thc
<br />- indebtedrtess,all right,dtic und inten;st of Bortowcr in and to insurance policies en forcc shall pacs to the pi��+.^haser. "
<br />-- 5. t3�CCCUpancy, 6'rescrvntion, MetRtenance nnd Protectton of the Praperty; Borro�ver•s lann ApPllcntton: _
<br /> cu _
<br /> 1,easchaids. Bonower shall occupy,estzblish,nad use the Property as Borro�ver's pnnc►pal residence within sixry days afu;r _
<br /> the execution of this Security lnstrument nnd shall continuc to occupy the Property as Bortower'S principal rcsidence for at
<br /> I��.st one year after the date of accup:uicy, unless the Secretary deicrmines this requirement will cause undue hnrdship for
<br />= Borrower. or unless cxte�uatin�circum5tnnces exist which are beyond Borrowcr's cantrol. Borrower shall notify�nders of ,
<br /> = any extenuating circumstances. Borrower shall not conunit waste or destroy,d:unage or substantially ch�n�e the Property or
<br /> ailo�v the Property to deterioratc, ne:�eunab�e�vcar and a:ar exccpted. Lender may inspect the Pro�perty if the Property �s
<br />�% vacant or aUandoned or the loan is in defuidc I.ender may take reusonable action to protect and praurve such vacant or
<br />'- abandonec�ProZxrty. Borro�ver shall ulso be in deFault if Borro�vcr,during the loan upplication procc�.ti,gave matcrially f2�1se
<br /> i or in�accru-nte information or swte►►unts to Lender(or failed to provide l.ender with any �nnterial info�mation) in connec�ion ,
<br /> �vith the toan evidenced by the Note,including, but not limited to,representntions concerning Borro�ver's occupancy of the
<br /> a {'rap�:rty as a princip�l resideuce. If ihis Secuniy Instrument is on a leaschold,Barro�ver shall comply with the provisions of
<br />� t(ie Isase. If Dorrot��cr aequires fce tiQc to thc Property,thc Ic:aschold:u�d fe►:dtle shall not bc mcracd unless Lendcr ngrees ta
<br /> = tiic mtrger in�vriting.
<br /> 6. Char�es to Boa�ro�ser amd Pirotcction oP I.ender's Rigl�ts in We P►rope�ty. Borcowcr shall pay :ilf governmental
<br /> or nnunicinal charges,fines and imJwsitions Uiat am not includcd in P.�graph 2. Borrower sl�:ill pay tliese ubl�gations on
<br /> teme dirccdy to Q�c cntity which is o�ved [hc paymcnt. if fttilurc to pay �vould advcrsely affect L.cndcr's intcrest in the
<br /> propcny, apou Lendcr's rcquest Borrowers�hall pmmptl,y furnish�o I.cnder reccipts evidenein�;these payments.
<br /> .�.�_____._c��_... ...eL_ .�....e ..e .o.,:.�,,.• �� �u.,,..,,f� rcnuirrrl hv Par.urr.nh 2. or faiLti to vcrform any ot�cr
<br /> tt [sv�avv�� aaw.. .v u.omv v..v.• Y^l�'.....�.... __ r_��_� '_�'_.
<br /> � covcnants and agrcements mntained in this Security Insvumcnt,or them is a le�;;il proc�.�eding that may�ignific:uidy afi�cct
<br /> Lendcrs rights in the Propcicty(such ati a procecding in banl.ivptcy,for condemnahon or to enforic la�vs or rtgulutions?.
<br /> ,� thc[�[.cndcr m;ry do:ut@ pay tvhate�'er is mccc��ary tu�rotcct tttc val�c of the Propcnq and Lcndcr s righ4+in d�c i�ropcny,
<br /> includin�pay�nent of taxcs,hazard insurancc arcai othcr itcros mentioned in Para�raph 2.
<br /> Any mnounts siisburscd by Lcndcr undcr tfiis P:u-agraph shall bccome a�i addit►on�il dcbt of Eorro��•cr and bc sccumd by
<br /> tl►is Securiry Instrunicnt. 'ihcsc amaun�s shall b�ar intcrest from thc datc of disburszm�nt,at thc Note rate..md at thc option
<br /> of Lcnder,shaU bc inuncciiatcly duc and payable.
<br /> 7. ConBemnaYfon. 'fhc pracecds of :uiy aw;►rd o:claim fur darnages,dinct or�onseyuential, in connection �vith any
<br /> condemnation or ott►er taking uF any part of U�e Property,or for con�•ey.u►cc in place of condemnation,are hereby a+signed
<br /> and shall bc p:iid to Lendcr to thc extent of�he full:unount vf tMe indcbtedness diat n:mains unpnid undcr the Nutc and this
<br /> Securiry Inswment. Lender shall apply such pnxecds tu thc n:duceion of thr indebtedness undce the Notc and this Security
<br />-_ lnswnxn4 tirst to any dclinqucnt amounts applicd in thc urder providcd in P:u�agr�ph 3, :u�d thcn to prcpaymcnt of
<br /> 1/���ce��JJ y<rFr+l
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