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<br /> � � ll�c�l;S�t i�i;icnri,l E;y li� �a��r ul�1 I,i,;��f�:�r;�o,i.lu,•nru?�r i�,::�'.�Fi�:. _
<br /> � a.�;i,ti���i.
<br /> .""�:�".',m.�:c�.�� 2. 1'�Y�,:�qF,ly A��yi�.,��:va�4`1!'a�•c'��� R�t i�:•��rttti rnA Itil��•.r t:li�ert�eti. )lurruuce�.it.iVi iutlir�l� u� �a�,h��� n�litY i
<br /> - logttistr wrilh tF�c (�rizcipa{ anc�iut::rc,t eC.�kt f��fNi iii 1i�t: i+l��tc :;uil tuty I,�t:cl�:�c�;c.��, ;crt iu !.,li��..•�u c,f��uy f:�� i.��:s..s ;.t.:': „
<br /> _ :-t s�x��:ii�l;�,���•�,�ucntti te�vi��d ur ru h�; lc�•icd nE:�inst thc T'ropc�ry.(!i)l�u.`clwid S�;tym�utti or grc�nnd r+�yii; an�hc 1'rn4x�iy.and
<br /> � (;;}�....���:..1>l�f�J�,:i,+':ltC;•..rn�'r��»�ite'�i{�k��1:id+'Af?tljl.�. ,_ • �� �,n.•nn'��'tiv
<br /> b.a�h monthly,intitet(mcnt tiir uems Za):'lU) snci (c) �itafi r.i;ual ouc-t�r;,��i;� u€ �;:v �:�_��;��1 ar�:,na��. .� :� _-
<br /> e�tiinatct!by I.:eader,{sluq a�n am��u►it nuf�cient to m,aintain un ad�itioisul balanr,e of not more th���ane-��xt�of�h�esdrnatcd
<br /> nmoonts. 'fhc full un+ival an�ount f'or cach itcm yh��lf tu:a�cumul:�tcd by LrnBcr�vithin��cri�xl rn�iin�; onc.month heforc.an _
<br /> �m �itein wouie!beeorne dclinqu�nt. l.ender snail hald tl�e mm�uraa eoltected in srust to pay items(n). {U)ancl f.c)lKfare thc:y
<br /> bccomc dclinqucnt.
<br /> '"" If at any timc thc wt�l�f thc paymcnu� licld by I..cncicr far itcros LA), (b) nnd(c),tog�ethcr �vith dte f��ture tltar�thly
<br />- --- __.`__� p�ymcnt�for ruch itcm;payabic to l.endcr prior to tiie due datcs of such itcros,cxc�ecis by morc d�un�nc-gixtt�,thc estimatcd
<br /> «mount of payments requm:d to pay sucii itc�r+s �vficn due, mid if payments o�i u�L r,vi_ i��c currcnt, thcn l.,c:ndcr
<br /> shnll cithcr refund die cxcess ovcr ane-sixth of the cstimatcd paymentv or crcdit the cxcess ovcr.���ne-siath of thc estimatcd
<br /> � ��ymcn�c ta subsequcnt payrn�nts by Rarrow�r,ut thc op�ion of Boirowcr. If thc totrJ of lhc�ny�acn45 made��y Borrow�r
<br /> �csx item(a),{b},or(c)is�nsufficient to pay the item whcn due,then Bon•rnver tihall pay ta Lcncicr.�nx�amount nccessary ta
<br /> ' m[ikc up tlic dcficicncy on or beforc the daue thc it�m beconics duc.
<br /> As uscd in this 5ecurity InsUVmcnt,"�c�7etury" men.�+s the Sccretary of Housing uud Ui�a�h:ncvtlopmcnt or�his or her
<br /> designt�. in any y�c iu�vnESli the Lendar anust pay•�•tna�tga�e insurance premium to th�Secret;ny�or any}•esur 9n which
<br /> ,,,�,,,,,�,:,;.,�•` such premium wnuld have becn rc:quie�;i�1 iF Y'h�:'�I.ender st�ill'�held the-��urity Instrument),c�icb manthly pay►nent shsilt also
<br /> -c,:��a include oiti►er: (1}an installment nf th�tinn�yaF mortgagc insuruuu:prer,nam ta bs p;+ia by LPndr�ro thc Secretary.a1'(ii)u
<br /> ����v�- monthly chu•ga.instcad of a mortgage in;urnncc premi�in if this Security Instrument is heid by the Secretmy. Each monthly
<br /> -_—__ -�_'�j� instnllmcnt of�the mortgogc insurancc pre►�iium shall be in An mm�unt sufficisnt ta accumulate tl�e full annual mortgage
<br /> -- - "• - insurancc prcmiumc�S►hl�n►ydinstrument�s�held by �hc Sccret:uy.f�alcbnmonthfy ch�getn hull bc mc n��i nountuc:yual�ro
<br />--_--_--__�_� a"rtsr•, or i. el:i
<br /> -- __---,.;.� one-twe�fth of one-half percent of the ouwG:nding principal b�lance due vu tSia::otc.
<br /> lf Bonower tenders to l.ender the full�s�Xrnent of ull smns secured by this Suurity instru�nent,Borru�ve►•'s nccouiit
<br /> - shall be creditcsl �vith the bainnee remninin� tor ull instnllments for items (a), (b) and (c) and nny mort�nge insurancc
<br /> ,-,;�.y���.� ��rEmium instalbnent that Lcndcr has not bccomc obligatcd to pay to the Sei:retary,nnd Lc:nder shall prompYly refund any
<br /> -- exccss funds to i3o�rou�cr. limncciiatcly priar to n Porcclosure sale aP the Prnperty or its ncc�uisltinn by Lcndcr, Borrowcr's
<br />�--��� a�cuunt sluil!bc crcditul�vith a;ny b�lancc rcmuining for n!I instuUmcnGs far itemti(n),(n>�ui�(c).
<br /> ______=.��',� 3. Ap�licutton otlPnymcn�4. AI1 paYi�cnts�mdcr ParagrupP�s I imd 2 shall be npplicJ by l.cndcr as follows:
<br /> ----
<br /> --.— .,...�T ._.w...„..,,,,�aP;h��.��n�,�orciniun�to be t�uid bv �.�ndcr to tl�c�ecrctury or tu tlic mmuhly charge by
<br />...-_"__=_".-.e�-'_°'�ri .Ti1�'=.� I�-Ii1�.�L� w u�b.......4"0=;" ' . • ' ..
<br /> �,�R;,.s„__'� the S�rretcvy instcua ot tna moniniy�iiinigaga insur.:n��rQSnis!sn:
<br />_ __.,�;��;� SEC,,;,,,0,�, to any t�►xes, special ussessments, lcasehold payments or groancl rert4s,+lnd fire,flood and oti�cr
<br /> Y hazard insurance premiwns,as requircd:
<br /> =-'��"'�'�� H� lRD,to intcrest due undcr the Note; -
<br /> `��"`'��= �,to amortization of the principal of thc Nutc; �
<br /> - `°'�!A':� IF' H,to latc charges due under thc Notc.
<br />-_�li�;�n�.�.
<br /> - __����,,.,.� 4. Firc,Fload and OtBer glaznrd Insurnnce. 8�rrower shall insurc all improvemencti on the Pcoperty,whe ier no�v
<br /> � � �� in cxistence or subscyuently erectcd, against:u�y humeds, casualties,and contingencies, including fire, for�vhicl� I.ender
<br /> -=�=-�����` requims insurance. This insurnncc shaU bc maintaincd in the amounts and f9r the period,that C.endcr requires. Borsa�wcr
<br /> b iloods
<br />��SH_�,:�SJ,,-'��., sh:ell nlsa insurc ull improvcmenGti on the Property,whcther now in cxistencc or tiabsequcntly�rcc:tcd.agcunst loss y
<br />-°�:tr==:z�u-_�;;, to the extent required by the Secretary. AU insurnnce shail be carricd with companies approved by Lender. The insurance
<br /> �.:-�+;��• ti policics and any renewnls shall be held by[.ender and shall include loss payable clauses in favor of.and in a fonn acceptabte
<br />-,"".'_:�,•���_• to.[xndcr.
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<br /> -.��W:=�,.:,�?5" In the event of loss.Sorrower shull�ivc Lender immediute noticc by mail. I.ender may makc praof of loss if not ma e
<br />;�'�'--"`"".`_'"�.`;, promptiy by Borrower. Euch insunnce compnny concerned is hereby uuthoriud and dir�xted to make pa,y�nent for such loss
<br /> ='f`�;�::;'�"�" , d'uecdy to Lender,instead of to Borrower and to Lender iointly. All or any part of the insurnnce proceeds may be applied by _-
<br /> —_=====��s��'" L.cnder, at i�.v opdon,citfur(a)to the reduction of thc indebtedness undcr the Note and this Sccuriry Insuumcnt,first to any
<br /> ._:.::�:P�.':'�°'[__ ,. _.
<br /> : =-�•S:� delinqucnt umounGti applied in the order in ParAgraph 3.and thcn to prepaymcnt of principal,ar(b)to the restoration or rep�ir
<br />-=-'-"�:�;,? ' of the damagcd property. Any application of thc proceeds to thc princ�pal shull not extc:�d or pastpone thc due dute of thG
<br /> - '`';�'; monthly payments which are referrecl to in Parngraph 2,or change the umount of such payments. Any cxcess insurance
<br /> - ,�:., �� nrocccds over nn umount requieed to pny ull outtitmidmg indebtalness under the Note and this Security Inswmern shaq be
<br /> _-_-���:3;�,, ::%�,� paid to the entity legully entitled chereto.
<br /> �:�� .�% In the event of forc�losure of this Security Insvument or other transfer of titte to the Prapccty ehat cxtinguishes dic
<br />�:s_.',?�a�j��F• indebtcdness,all right,tiQe and interest of Borrower in and to insurance policies in force shull pt�.gs.to the purchascr.
<br /> � " � 5. Qccupancy, II�'eservntion, Mnintenance and Protection o£ the Paoperty; Borro�ver s Lonn Appl�cs�tfon;
<br />�<.� ,..:',,:;:�;
<br />;-';r����•••;��;,,,.,, i.eASCholds. Borruwer shall occupy,estublish.and use thc Propcny�s Boirowcr's princ�pnl residencc within si�;ty duys after
<br />�:�7 ir_,y'�:,F-�;; •,: �•• the exi:cution of this Security�nswmcnt and shall continue to occupy thc Property aS Borrawcr's principal residence tor at _
<br />`'k"r�''°"k���-.� �; Icast one yeaz after the date of accupancy, unless the Secretary dctermines this requimmem will cause undue hardship for _
<br /> �'`="=���;�"'" Borrowcr,or unless extenuating circumstances exist which are bcyond Horrower's conuol. S��rrower shall notify Lcndcrs of
<br /> :�,;r�,�
<br /> ---iy any extenunting circumstanccs. Borrower shall not commit wastc or dctiu•oy,dumuge or substunti�Uy chun�e thc Property or
<br />;=y;;;.:„,;,i.;g;T;,;� allow the Prope�ty to detcriornte,rcasonuble wcar and tcar excepted. L.cndcr may inspect die Yropeny �f thc f'roperty is
<br />:,�'..'r�,;�_;..,}� . vncant or abandoned or thc loan is in default, Lender may tuke reaxonable action to Qrotect and prc:serve su�h vacant or
<br /> � abandoncd Property. Borrowcr shaU also be in default if Burrowcr,during the laun uppl�cadon process,guvc materially fulsc
<br />- =�•�=%. ��'�`��•�'- or inaccurdta infonnation ar st�temen4ti to Lender(or failed to provide Lender�vith any material mformation) in connection
<br />_�-..,.,r..,,.,._,....,
<br /> »,_ , . • �eith tho lov�evidenced b the Notc, including,but not limited to, repretientations conccming Borcotver s occupnncy of t e
<br /> �Y��!?�'�;,''�'�t'�.; �,'_ Property as n principal resYdence. if this Secunry Instru�nsnt is on A Ieasehold,Borrower tihall comply with the provisions of
<br /> � = .~ �-. thc lcase. [f Liono�vcr acquires 3'cc title to the Property,thc Icaschold and fec tide shall not be mcrgcd unless Lender agrces to
<br />• � - the mergcr in writin�. '
<br /> ° 6. Cha►�es to ilorrr��ver and Pro4ecttun o�Lendcr's Itigh��fn tlie Property. k3orrowcr shall pay ull�ovcrnmcntal
<br /> ° , or municipal charges,t"incti and impositions thnt nrc not included in ParagrnPh 2• Borrowcr shnll pay thcse obligntion; on
<br /> �•�^'•+�• eime d'uccdv w the entity �vl�icl�is owcd the payment. If fuilure�to pay would�dv�pn^iYo chrCie navmeuts,�terest in the
<br />. � .. . ; Property,upon Lcndtr s rcqur.st Sorrowcr snaii prompiiy iun�r������.�.����,•�:r-•--------=•� -
<br /> � [f E3orrower fails to make dicse paymcnts ar the payments rcquim�d Uy P,ua�raph 2, or faifs io perforin uny other
<br /> � �°` ' � covenants and ii�rtemenGc contained in th�s SecuritY Instrument,or there is a legni procecding thut may significundy uffect
<br /> ,,: - Lender s rights m the Propeny isuch ns s proceedmg in bankruptey, for condemnat�on or to enforce laws or regufations),
<br /> �".�, �� � then Lender may do and pay wiiatcvcr is ner.cssary to�rotcct thc value of thc Property und L.cnder s rights in thc Property.
<br /> • � including payment of tuxes,hazard insurwicc nud other ite►ns mentioned in P�igraph 2.
<br /> . Any amounts disbursed by Lender under this Para�raph shull bc;come un adJmonal debt of Borrowcr and be secured by
<br /> •• ' this Security Instrument. These amountti sh111 bcar interest from the dntc oti disburscmcnt,at thc IVotc ratc,and at the option
<br /> of I..cnder,shail be immediutcly duc and payiible.
<br /> 7. Cundetnnation. 1re proceeds of any awnrd or claim for damages,direct or ronsequentiul,in connection with any
<br /> condemnadon or other talcing ol'1ny p:ut of the Property,or for conveyance in placc oF�ondemnution,ure hereby assignul
<br /> , ,' y und shall be p��id to Lendcr to the extent of the full amount of the indcbtcdness thnt rcmains unpaid under the Notc and this
<br /> __�-��� ..-.•� Security Inntrument. Lend�r shall�pply such proceeds to the reduction of the indebtedness under the Note anJ this Security
<br /> ��� " ` • } InstrumenG first to any dclinquent mnounts applied in the order provid��d in P.iragrhph 3, and then to prepaymcnt'of
<br /> „ Ipuge z njd pugr.�/
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