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<br /> �!�Z C411,1 S�"A'^i.l�!"'
<br /> E� .�s• �:r�n P�'s.lf,. :��
<br /> ����y r
<br /> 1. N�yment�►t Pii+�clprl,istter�t xrad i.A[C� inierxr. I��,s�a,.cr�,h�itt s t�_�s�ln,��i��� ;���u�ii�,�i ni.u��..i�ii.,�.t F�;3, _
<br /> thc�lclx evidenccd by tt►c Note and!a�c char�;es due undrr the Nutc.
<br /> 2. Monthiy p�;Yment+�>l 1'nxn+,An�►ur�n�'�s Nnd fn�r G��'R�• �nrrnwer�tndl iucludr in c;r,:h�nonthly ps�ymrnt,
<br /> together with c�r�ncipal and i��terc4t as set f��rth in �he N tc nnd Emy I.ite chargrs,�u� instnNmenr of uny (u) tnz�s umi
<br /> S�CjpI pSSCSS�ts levicd or to be 1cV�c1 ugninst thc Propert (b)�casc'ha1J payn�enrs or grolmd reiits on►.he Nropeity,und
<br />:`;. (a)nremiams fo�ansurance rcyufreJ by�,arugraph 4. tih e!o d nne-twclfth�thc nnnuul i���unts, nti rea+onably _
<br />.r i A�HED k.'ach man in�talUttcnt for ue tu), (b) u+�d (c) : f �
<br />":151UN �Su�tcd b,y L.en ,plus un amount su ient to mnintaln a��n 'tional bnlunce af n� rnn�e than one-. th�f the escimutcii
<br /> mnounts. 'The full mial amount for cac 'tem shall bc nccumul by L.cnder withir� period ending �}�hcfore they
<br /> item would beco elinyuent. Lender s 'l hotd ihe nmounts c ected in uvst to p. items (n), (b).
<br /> bcx:ome elinquent.
<br /> If uny time < <o1��blc t LPenydcr pr h to�'the d e dmes of su n�ite�m��excceds y ��e�than one�six ��the c.nut►A ed
<br /> paymenc ar such ite aY ti���h ,� �vhen due, und payments an the ote nre curccn� th�n Lendcr
<br /> tUriOURt paymcnGS uired to pay :
<br /> sh:ill eithc efund the e ss ovcr onGSUCd�o �����/a+of Borro r c If thehotnl•of th v�ayments made �Bot�rower
<br /> payments t subse:quent ments by Bor�•ower,
<br /> ��
<br /> for itcm(a), b),or(c) is i uEFicient to puy the i when due.thcn Bo wer shall�ny ta Lc cr any amaunt ctisary to
<br /> makz up the ficiency on before tlte date the ite becomes due.
<br /> As us' n this Sccurit Instreiment,"Sccrctar means the Sec:retary Housing and Urba evclopmcnt or �:on c�r
<br /> de:;ignee. In y ye:ar in wh thc Lcnder must pn a mortga�c insurunce cmium to tite Sccrc y(or any ycar which
<br /> such premium auld havc required i:the Len stip held the Securit nsuumcnt),each m thly payment s 1l also
<br /> include either: ') an instal�uiz of thc annual mottg ,inturance premium t bc paid by Lcnder �he Sccrctar,y. (1�)u
<br /> monthly churge :ctead of a mo age fnsurance premi if this Security Inscr ient�s fietd by the. etury. Fxrc1�rn �thty
<br /> installment of di mortguge ins ance premium shall in nn umount �ufCici t m p�un�°r�nce� f miumn sA due�It che
<br /> insarance preiniu with I.endcr ne month prior ta th dnte the full annual ortgt� __
<br /> Secreuuy, or if 9 Security lns ment is held by Q�e ccrctarY. euch month ch�rge shail be m n wuuuut eyuat.�ta
<br /> one•twelfdi of ane- nlf percent of out�tonding princip alunce due an the Not�
<br /> If Borrower t pders to Lendc e full payment of sums sccured by this ecurity In�tnimcnt, Borrower's lccount
<br /> shitll 6e credited with thc balance maining for all insta nents far items (u), ( ) nnd (c) and any mortg�ge insurance
<br /> pramium instullment[hat Lcndcr has ot becomc�bligated � pay la the Secrctnry, �nd Lender shall promptly reFund any
<br /> exress funds to tiorrowcr. Im�r��iat.,�y priar tn a forecla:: �,salc�f thc Propeny or its ncquisition by L.cnder,Bnn'awer s
<br /> account shnll be credited with any balance rernaining for all installmenGs for items(a),(b)and(c).
<br /> 3, Appllcution of Payments. All puyments undcr ParaSr�Phs 1 and Z shaU bc applicd by Lendcr as follows:
<br /> I S , to the mortgage in5urance pramium to be paid by Lender tu the Secret�uy or to the monthly chorge by
<br /> me&r,c;�cw�y issi�,d of th�+nnnthly moitengc insuru�cc prcmium;
<br /> ES COND, to any taxes, %Pecial assessmen�ti, lcaschold paymen�s or ground nui,, ur�.: t'u;., f3r,o.: «:sd �»h�r
<br />- hazard insurnncc prcmiums,ati mquired:
<br /> TkITRD.to interest due under the Note:
<br />_ OU T ,to amortizuuon of thc principal of the Natc:
<br /> IFPH,to lute churges due under the Note.
<br /> 4. Flrr_,Flood und Other Hezurd Insurunce. Borrowcr shuil insure ull improvemen�s on thc Property,whcthcr now
<br /> in existence or subscyuendy crected, ugain+t any hazurds,casaalties, and contingcncies, including fire, for �vhich Lender
<br /> requires insurnnce. This intiuranca sV�all be mainu�ined in�he amouncs and for the periods thut Lender r�quires. Bonower
<br /> shall nitio insurc nll improvcm�nts on thc Property. whcthcr no�v in cxistcncc or subscyuently crcctcd,ngnimt loss by tloods
<br />' to the�xtent required by the Secretury. All insurunce shall be carried with companies upproved by L.�:nder. The insurance
<br />= policfes►tnd uny rencwals shall bc hcld by l.cndcr:►nd shall includc loss puynblc cl�uscs in fnvor of,i►nd in ii tin•m uccegtablc
<br />� eo,Lendcr.
<br /> In thc cvcnt of loss,Borro�vcr shnll givc l.cndcr i►nmcdiutc noticc by mail. Lcndcr muy makc proof of losz if not mndc
<br /> i promptly by Barrowcr. Euch insurancc compuny canccrncd is hcreby uuthorizcd nnd Jircctcd to mnkc piiymcnt fcrr tiuch loss
<br />_3 directly to Lender,instu+d of to Borrower und tu Lander jointly. All ur uny part ot the in+urance procceds nu�y be applied by
<br /> ,� Lender,nt its option,cithcr(a) to thc rcductinn of thc indcbtednes�undcr thc Now and this Sccurity Insawnent,tirst to uny
<br /> ;, delinqucnt amounts upplicci in the order in Pnrngn►ph 3,und then to prcpaymcnt of principaL or(b)to thc restoration or repair
<br />'� of the dam:�gul property. Any applicu►ion oP the prucceds ta thc principal +hall nat cxtcnd or pustponc thc duc dnte of thc
<br /> monthly paymcie�ti which arc rcferrcd to in P�uugruph 2.or chungc thc a►nount of+uch puymcncti. Any cxccss insurnncc
<br /> � procecds ovcr un amount requircd to puy all outsuinding indebtcdness under thc Notc and thiti Securiry Intitrument shnll bc
<br />'=� paid to the entity legally entided thereto.
<br /> In the evcnt of foreclosurc of this 5ccuri[y Instrumcnt or other transfcr uf tiQc to thc Property that cxtinguitihes dic
<br /> indebtedness,all right,title and interest ot'Borrowcr in and to imurance policies in 1'orce shall puss ro the purchatier. _
<br /> S. Occupancy, Preservation, Maintemince and Prutectlon of the Property: Borrower's I.oan ApplicaUon;
<br /> Leasehulds. Borrower shall occupy.cs[ttblish,and use the Property as Borrower s principal rexiden�e within sixry days after ,
<br /> the execuuon of this Securiry Instrument and shull continuc to occupy the Property a+Borro�ver s principal residence for nt
<br /> - least one year after the date of occupuncy, unless the Secret.vy detennincs this r.:yuircment �vill cuusc undue luvdship for
<br /> g�rrower,or unless extenuuting circumstunces exist which ure hcyond Aorrower's wnvol. Borrowcr tihull nutify L.enders of
<br /> �_,� any cxtcnunting circumstances. Borrowcr shull not commit wa�tc or dcstroy,damagc or substantially changc thc Properry or
<br /> aUow the Property to dctcrioratc, rcnsonablc weur und [enr cxccptcd. Lendcr may mspcct thc Property if thc Propcny is
<br />•'� vncant or abandoned or the loan ir in default. Lender may takc reasonable action to protect and prescrve such vacant ur
<br /> abundoncd Property. Borrowcr�haU nlso be in dcfuult if Borro�vcr,during thc loan applicution proccss.�nvc mutcrially false
<br /> or ini►ccurate infonnation or titatements to Li:nder(or failed to provide I.ender�vith any tnuterial infornudion)in connection
<br />''�` with the loan cvidenced by thc Note,including,but not limited to,repn:senuuions concerning Borcuwer s occupancy of thc
<br /> � helc�tic.�If Borrower zcqu res f'ce titic�to the Property thc lca�hold!md f�I�titlAc sh II not bc'm�ged'unlch�Lcnd�rV:y cc� o
<br /> ,-
<br /> tlic�ncrgcr in writin�.
<br /> 6. Char�;cs fo Borrower nnd Patitectton of Lender's Riqhts I�i the PropeHy. Borrower,hnll pay nll govcrnmcnta
<br /> " or municipal chlrges,fines und impositiunx that ure not included in PiUagrnph 2. Borrower�hall pay the�e obligntions on
<br /> timc dircctly to thc entity �vhicl�is owcd.�h��pYyn��iv e,ish�to Lendcr rec�pt cv d�cing hesc p y nents�����r�tit in Uic
<br /> Property,upon icndcr',�c.j<i�,••,�••�••�•.•••—.r._...�--• .
<br /> If Bo►n�wcr Fails to makc thcsc paymen4s or tho payments reyttircd by P.vngraph Z.or taiis co perForm atny �i6��
<br /> covenantti and a�rcements contained in this Security Instrument,or there ix u legal procecding that may signiticandy uffect
<br /> Lender's right5 m the Property(such us u proce rytng '��n bankruptcy, for condem����r to cnt'orcc luws or regulations).
<br /> thcn Ixndcr may do and pay whutevcr is ncccssa ro rotect thc vuluc of thc Pru rt �nd Lender's rights in thc Propeny.
<br />• „� including p.►yment of tvccs,haxurd intiurnncc and othcr itcros mcntioncd in Pariigrnph Z.
<br />'��:•� Any wnounts disbuncd by Lcndcr undcr this Pivagraph�hall becomc an aJdiuonal debt of Bi�rruwcr und hc�ccurcd b�r
<br /> this Sccurity Insu�umcnt. Thcsc umoun�,shall bcar intcrcst trom thc dute uf disbur+emcnt, at the Notc ratc,and at thc option
<br /> of Lendcr.shall bc immediatcly due und payable.
<br />� 7. Condetnnation. The proceeds of any uward or claim for damages,ciirect ur conscyucntinl.in cunnection with any
<br /> condemnation or othcr taking uf nny part of thc Property, or for conveyancc in placc of condemnution,arr hercby uti.igned
<br /> und shall bc paid to Lcndcr to thc cxtcnt of thc full a►rount of thc indcbtcdncss that remains unpaid undcr thc Note und thi�
<br /> 1';' Sccuriry [nstrument. Lendcr shull apply such procecds to�hc reduction of the inJchtcdness undcr the Notc and this 5ccuriry
<br /> r- instrument, tirst to any dclinyucnt umounts i►pplicd in thc ordcr prc�vidcd in Paragraph ?. and thcn to prcpaymcnt uf
<br /> �...
<br /> _ fPugr�10/�1 p��ge.�l
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