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<br /> x. h�lnnthlv purmetrti af;;li►xe�.Kayur�ur.c:�rst»til5�zr�.;h�Y q�, yi,r�:ns:c;t,L:+tl l��cl..,.� i�►r.:_,i�„�:�;t„► • ,:��t �~��.�
<br /> ., ,�i�i;ttier wllit tl�� (�cntci��a9�:�ui ii�tesc:+.'!•;s�t fc��Ai'su[]t:: ha.., �t:t u}; I;t[u cli~r€;°:.Jrt lsl�t�ill�clri�R e�f si+�y�(a) taqe�:��rd ___�_..._
<br /> R pr p ,(b)leaselyolu��ayrricut:;ot��;caiurul����c,u��cii�;l'�ti�l•.�;y.;,�"",
<br /> sptclei xc�:esunents devicci ar to l;c leyiec�a_ainst thc Y'ra n ,
<br />` Cc)t;:�;�ulu��t;f�n'•.lit;�c�anuc re�.(tiiiy�c{i by I:�rv�'11�pii�. —
<br /> �scii moncniy insiuiiu�C�ix iuF liw���:��'�� �������r� `4j"'�,Cnnn! (11{�•[i,YCIC[Il Uf 1�10 t!il(llF1I :1�1i�Uil7.i. Ri i'{:C+:fTl:1F�:y
<br /> e.rtimxted by l�ukr, plus an amount si�iticient to ma4ntain en sdditional balance af not r�tore rk�an onrsiz�ii n���� -
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<br /> estimuteA.amounts, 'i`h� full annunl amou+tit i'or each itc�n sk�ell be accumul�ted by Lerder within a periad rndinb onc
<br /> monlh txCoee an#tcm wauld tiEcoiti�e delinqtxent. LeY!+dcr afiaiF huld tlt�nmounts callec;tcd in trust t�pny�tems(tt),(b)and _
<br /> {�)before they I�ccome�1�itnt�uent.
<br /> If nk any timt tho total of thc payments heid by Lender for itr,ms(n). (b)and(c).:a ct?e�r a•ith the future monthly
<br /> payments foc s�ch item, payable to l,ender prior ta d�e due dates of such itetns, cxcGe�s oy more than o�Se>,sixth !h� "
<br /> cs►iinsteu n�aGUr�t of�Sayrn�lca requirca to�1y sllch items when due,and if paymr,nts on d»N�te c�re curcznt,then l..cndcr
<br /> shall either raPond the excess over one-sixth of the estimatcd payments ur cred�t tL6 CXCGSS OHBI'Ut1C-Slkiii a'3F E�.c cstim;:tc:i
<br /> {�ayment,v to subsec�uent payments b�Bon-Qwer.at the ortion a€Barrower. RS'th�total af the pnyments made by�vrrou'rr —
<br /> 4or item(a),(b),ur(c)is�nsufficient to pay the item whern due,then Borrawer shall pay to I.snder:u�y amount necessary to `
<br /> inake up tl�o deCcicncy on or bcfore Qte dnte the item i�ecor��es due.
<br /> As used in t}iis Secwit�Instmment,"Secretary"means the Secaetary of HouSing and Urlum 17evetoprncnt oz his or hee
<br /> designee.'In any year in wlach the LEr�ier must pay a mart�asc insurance premium to the Secretu�y,cacit nionthiy paymrnt
<br /> shaU �Is�include eithcr.. "(i) an i��tullmenc of th� annual moMgage insiunnce premium to bc paid by Lender to tl�e
<br /> ge�;�c,;uy,n,-{ii)a marir.h];.cltaro�in tcad oF a mortgage insurance premium if this Security histrument is held by the
<br />— Secretary. F.act�monthly installment o�tlie mortgagw insurance pXe�uiam shall 6e in an amouni�uiiicie��t¢o asc:�rse!»t�:.�:°
<br /> full unnuul mortgage insurance Nremiwn W�th 1.�nder one monfh prtor to the date the full annual mongage insurnn.�c
<br /> ° �remium is duc to t�ee Secretary;ur iF thib Secu�ity I�stniment is held by the Secretauy,eoci�moathly chsrge sh31i lfe in an __ _
<br /> amount equal to one-twelfth of one-half'percent of t11�uutstandin�princiFal 6ulutce due on the Note.
<br /> If IIonower tenders to Lender the full payment af all sums secured by t�is Security Gis�txumen�Barrowerk accoimt
<br />- shnll be emclited with the balance cemaining for n11 installments for items (a), �b) �nd (c) and any mortgage insurance
<br /> preminm installment that Lender hes not becomo otrUgated to pay to che Sccmtary,and Lender shall promptly refund any
<br /> excess funds to Bonower. Immediately prior to a foreclosure snte of the Praperty or its acquisition by Lender.�oirower:v
<br />= account shnll be credited with nny b�l�nce remaining for all instal�ments far items(a).(b)and(c).
<br /> 3. Applicatlon oY Pqymeats. ��.91 payments under Pam�,�raPhs 1 and 2 shall be upplied by Lender as follows:
<br /> FtRCT �n rhe mortuaee insurance Premium to Q�e pai�d by I.ender to the Secretnry or to the monthly cha��ge by die —
<br /> Sec�tary instead of die monthly mortgc�ge insurance premium;
<br /> — cFt`I�ND.to unv taxes.snecisl nsscssments,le�sehold paymen�s or ground rents,und fire,flaod and athcr haztu'd _
<br />— lnsurancc pre�niums,as required:
<br />-� �r�n,to interest due under the Note;
<br />_ �OURTIi.to amarti2at'son of tbe prin�ipal of thc Note;
<br /> _ ��'IY'f��,to late char.�es due under the Note:
<br /> 4. F1're,rluad urx•r]Other Hnzard�nsurant�:. Borrower shall insure all impruvements an the Pmperty,whcther now
<br /> = iR existence or subsequendy erected,against any hawrds,casualties. and contingencies,including fire, for which Lendcr
<br /> -= requires insurnnce. 'Itiis insurance shall Ue maintauied in the amounts and for the periods that Lender requires. Borrower
<br /> shall nlso insure u!1 improvements on the Properry,whether now in existence or subsequently erected,uguinst loss by floods �
<br /> ,° to the exteat m,quired by the Sec�+etury All insurunce shall be carrie�wi.th companies uppmved by Lender. The insnrance _
<br /> � policies and any renewals shall be hetd by Lender and shall include loss payuble clauses in favor of, and in a form —
<br />`_� nccepta6le to,Lender. =-
<br />-- In the event of loss,Bonower shall �ive Lender immediate notice by mail. Lender may miilce proof of loss i not �__.
<br /> "-- made promptly by BoPrower. Each insurance company concemed is hereby authorized and directed to make payment for __
<br /> ° such loss dii�ectly to Lender,instead of to Borrower and ta Lender joiatly. All or any part of tho insurance p,roceeds mnY be �,,_�
<br /> '`� npplicd by Lcnder.at its option,eithet(u)to the reduction of the indebtedness under the Note and this Secunty Tnswment, ����
<br /> -� fust to any delinc�uent amounts applied in the order in Paragrs�ph 3. and then to prepayment of pr[ncipal,ar(b) ro the t r�:.
<br />;:� restoration or repav of the dumaged property. Any applicarion of the ptoceeds to the pnncipnl shull not extend or post�one [��,
<br /> the duc date of the monthly payments whtch are referced to in Paragraph 2,or change the amount of cuch payments. Any � _;-
<br /> excess insurunce proceeds over an amount required to pay all ouutnnding mdebtedness under the Note nnd thts Security E_.___
<br /> Inswment shall be paid to the entiry legully entltled thei�eto.
<br /> In the cvent of fonclosurc of this Security Instn�ment or other transfer of title to the Property that extinguisl�es the
<br /> indebtedness,all ri�ht.title nnd interest of Borro�t�er in and to insurance policies in force shall pass to the purchascr. -•;;v.
<br /> - 5. Oceup»mcy, Preservatlon, Maintenance nnd Proteciton of the Property; Bur�awer's Loan Appttsutlon; �-�
<br /> - Leaseholds. Dorrower ahall occupy.establish,and use the Proper4y as Bonower's principal residence within sixty days ,_,•_..
<br />;�:��;,� after the execution of this Securiry Inswment and shall wntinue ro ascupy the Property as Bo�YOwer's prurcipal restdence _
<br /> for ut least one year nfter the date of occupancy,unless the 5ecretary determines this requ�rement will c�use undue liardship
<br /> �"� for Bnrrower. or unless extenuAting circurtistances exist which arc bcyond Bomower's control. Borro�ver shnll notify
<br />'�� Len�ers of ony extenuaan�circumstances. Bonawer shall noz commit waste or desuoy,dama�e or substantiully change
<br /> the Property or allow th�Property to deteriorate,res�.connble wear and tear excepted. Lender may inspect the Property if the
<br /> Property is vncant or abandoned or thc loan is in defuult. Lendcr may take reasonable action to protect and preseivc such
<br /> vuc:mt or t�bandoned Piroperty. Borrower shnll also be in default if Borrower,during the loan uppiication process, �ave
<br /> materiall� fnlse or inaccurate infoimutian or statemenrs to .Lender (or failed to provide Lender �vith uny matcrial
<br /> infornnat�on)in connection with the lov�evidenced by the Noto,including,but n�t limited to,representarions conceming
<br /> Homnwe•t's occupancy of the!'rop�rty as a principal tesidence. Tf this Securiry InsUwnent is on a leasehold,Borrower shall
<br /> ! comply with thc proviswns of the leasa If E�orrower acquiees fee title to thc Property,the lensehold 1nd fec title shall not
<br /> �'� bc mcrgcd unless LRnder agrccs to the merger in wriling. �
<br /> • 6. Charge.s tu Borrower and ProtcttEnn off 6.ender s Rfgttte in the Pruperty. Borrawcr shall p�y all govemmentnl
<br /> or municip�l charges,fines and imposirions that are not included in I'amgraph 2. Bonower sh�ll pay these obligations on � `
<br /> time dfrecdy to the entity which is owed the payment. If inilure to pay would�dversely affect Lender's interest in ttie
<br /> proparty,upon Lender's request Dorrotiver sftall pmmpYly f�emish to Lender receipts cvidencing these payments.
<br /> tf ti�.mvrrr failc�n make these paYments or thc payments eeyuired by Paragraph 2. or fails to perfo�mo*iy nfFh�r
<br /> covenants und a�reements contained in this Seeunry tnswment,or rneTe is a icg�i Emn:a����b u�a�•���� ��a••�••••-"--+ ---- --
<br /> �� Leuder�s�ights in tl�e Ptoperty tsuch as u proceeding in bankruptcy,for condemnahon or to enforce lnws ur��ulntions).
<br /> then Lender may do�nd pay whatever is necessary to protect tha value of the�roperty and Lcnder�s rights in ttte Property.
<br /> including p�yment of taxes,harard insarance nnd oUie��tcros menrioned in Pin�agraplz 2.
<br /> Any umounts disbursed by Lender yndcr this P�tra�taph�hall bccome nn additional debt of Bomcywcr and be securcd
<br /> „• by this Securiry insnvment. These amounts shall beur mterest from tl�e dnte of ciisbursement,nt the Note rnte,:md at ttse
<br /> option uf Lender,shall{h,immediately duc and payable.
<br /> 7'. Condemnntion. The proceeds of any nward or claim Cor dama�es,direct or consequcntial,in connection aith uny
<br /> condemnation or other u►}:ing of nny part of tlie Property,or for conveyance in place of condemnation,are hereby assi�ned
<br /> ` and shail be paid to Lcndcr to the extcnt of the full amuunt of thc ind�btedness that remainS unpaid undcr the I�Iotc mid this
<br /> Security Instrument. Lendcr shall apply such procecds to the reduction of thc indebtcdness under the Note und this 5ccurity
<br /> Irinci alnt,An t1� I�on niof the occeds to pthc princ pal4 hall not x cnd or postp ne the�due date nfrth�:Ymonthly
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