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<br /> ltic ucbt cvidenecd b,y thr I�l��te and lat�:chiiiE;ec du<<nr�dcr tlie Nri�e, ynrrovrcr chull iuclt��k; in c.�41�iiuc�Jith}y��ayute��t. _
<br /> Z. MQa�lely a*ymen��ot'll'«xe�,�newrance a►.a�Hnrr cnury�. .
<br /> togzthc�' with ehe principut u�K1 intCrest u�. :tet fnnh in�hc hc,tG un� uny lutc c6argt�:, nn in+tall�nene ot'ar►Y(:►) �uKe' a^'1
<br /> tipecial ac�c�.mentv leviu! ur w F�levicd aguir�,�the Irrupe�ty,QU)le.�_Khi�lef paymi:niti or gmund;rentti cn�he PrYi{MCtY�und
<br /> <�j prnttiurr►a tcx insu royuired by Paragruph
<br /> kT7aGNEp �h it35'rcthl,y in�u ���n�unti�ui��:+���.w•:-•+ta;i�«rz uddlkona!b�nWr��*�'n�+�+���an ar , ixth of ih�c tiui�IJ _
<br /> REVrSION«u�TM►�bv i.encur',p
<br /> amcwnts. 'I`he full ennual nt fe�r each item shal accumulated by.L�e within n peri�xl cnclin montri heYare an
<br /> item uld bc�:ome delin nt. l.endcr shall hald t umountti collected i st to pny ItemS(a),! (�) �f°���y
<br /> beco� ]inyuent. and (c),tugeiher with futurc monthly
<br /> lY nny tiro� the tota g the payments heid by nder for item:, (�). �.:�y�are than�ne•. th tl�e cstimatal �
<br /> paymen nr such items paya ta Lender prior to the d dates of suc1�items,
<br /> amount paymcnts ra�un o ��y such items whe ue, and if pay►e�cn on tlu Note ure cu th:n Lxndrr
<br /> shall ei[he i'uuJ Ei�e exc::ss o one•s�xth of the cstim2t payments or crulit exccss uvcr ane-six.th 'the etitimwed
<br /> ��ayments t ubscqu�nt paymen by Dorrower,at Uir opuo of Borrower. tf thc al of thc paymentc y 8�����w�r
<br /> f.x item(a). ),ur(c)is tnsuftici t eo pay the ite�n �v�ien du ti�cn Borrower shall y to I..cnder any umoun ec�ssnry to
<br /> mak�e up the �clzncy on or t►efor �e dnte the item t�ccames
<br /> As ascd 1I115 SCt7UYl[y IfISIfU nt,"Secretnry" means the rctary of Houstng. d Urban Dcvclopmcnt his or her
<br /> designee, ln ycsu in which the der must pay a mongagc surance prcinium to c Sceret,lry (or nhy ye in which
<br /> such premium id have been requ' if the Lender still held Security Inst�wnynt ench monthly pay�m�nt all�Iso
<br /> include either. (► installment of ti�e nual moR�age insu►:ince mium t4 be pffid b nder ta the�ecretary r(ii)n
<br /> ►nonthly chargc i d oY a rttartgage in. ance premiu[rF if ihi�Sec 'ty luswment is h�l the Secretary. Fach nthly
<br /> installment of thc rtgagc insuruncc p ium shall be in nn amo t sufficient to accu lutc the fuil nnnu:d ���iaage
<br /> insu►:us�� pr►n��tirc :ith !cr.c+er on�� Illnn grior to Ihc datc thc fu 0.I11lUAI MURj�'II�TC 1115 �►cc �rciniutn is due'lo thc _
<br /> Su.�ct�.y. a: if tfii� et•��rity Insvument is�held b�r the Secretary:en�i montriy cuu►yc ,fl,i� b: ta a�� ���T�Lne �a�4 t�
<br /> one-twclfth of onc-ha perccnt of thc outstnn g pr►ucipal balancc uuc arr.u►e ido��. __-_
<br /> !f Boctower ten . to Lendcr the full yment of all sums tecured by this Security Instrument,Dosrower's account
<br /> shall be credited�vith e bnlance remuinin�r nll installmeni.s f'or�el S e c r e� (b�a n d L e n d e r�hall proii pd y refund1any
<br /> premium ins ta U m c n t t h: L c n d e r h a s n o t b c c o�o b l i g a t e d t o p a y t �Y
<br /> cxcess fuads to Sorrowcr. Immedintely prior to a forcclosure sulc of the Praperty or ils acquisition by L cn dcr,Bo r r o w c r's
<br /> account sh�ll be cred�ted with any baiance re�maining for all iu,tall►iic�its for iiems(a),tb):�a(c).
<br /> 3. Appikatlon�f Payments. All Nayments under Puragrnphs I und 2 shall be applicd by L.endcr ns follows:
<br /> '�,IRST,to the mort�age insurance prcmium to bc paid by Lender to the Secrctary or to the monthiy chsu�ge by
<br /> thc Sccretury instcad of thc munthly mortgagc insurancc premium;
<br /> ��pN�, ,� ;,�� �,:r�, .�+PCial aesessmentti, le.�.s�hold paymcnGs or ground rents, and�re, fload and other
<br /> hazard insurance premiums,ati required;
<br /> THiRD.to interest due under the Notc;
<br /> OF URTH,to amortization of thc principal of Ihc Notc:
<br /> IFI' ,to late charges due under Uie Note.
<br /> 4, Fyre,Flood and Other Hozard Insurnnce. Borrower shall insurc all improvcments on�he Property,whcthct naw
<br /> in existence or subsequenUy rrccted,a�ainst nny haa.nrds,cusualties, and contingencies, including Cire, for �vhich L.ender
<br /> rec�uir�.s insurance. Thts msurancc shall be mai�tsuned in the umount5 und fc�r the periods that Lcndcr rcquires. Borrower
<br /> shnll also insurc all improvcmentr on thc Property,�vhether now in existcncc or subsequently erectcd,aga�nst loss by floods
<br /> to the extcnt requircd by thc Secretary. All insurancc shalt be cnrried with companics approved by Lender. The insurance
<br /> policies and any renewals shall be F�cld by L.ender and shall include loss puyable clauses in tavor of,and in a form acceptable
<br /> to.Lendcr. —
<br /> In the evcnt of loss,Bonowcr shall give I.e.nder immediarc noticc by mail. Lcndcr may make proof of loss if not mu e _
<br /> promptly by Borroa�er. Each insurunce company coucerned i�hereby authorized and direeted to muke payment for such loss
<br /> direcdy to Lender,instead of to Bonower and to l.ender jointly. All or uny p.�rt of the insurAnce proceeds roay be applied by
<br />' Lender,ut i4s option,eithcr(a)to the rcductior�of thc indebtcdness under the Note und this Sccurity InstrumenG first ta an� �.
<br />— delinquent umounGS applied in the order in P:zragraph 3,and then to prepnyment of principal,or(b)to the restorution or rcpa�r f,',�
<br /> - of the damaged property. Any upplication of the proceeds to the pnncipal shall not extend or postpone the due date of the
<br /> monthly paymenGS ��hich are referred to in Paragraph 2,or change the umount ol' such paymen[s. Any exces.s insurance f
<br />-° praceeds over un amount requin:d to pay aU ouc,tandmg mdebtedness under the Note and thiti Security Instrument shall be �
<br />= paid to the entity legully entiNccl thercto. �`_
<br />� In the event ot fareclosure of this Security InsUumcnt or othcr transfer of title ro thc Property that cxtinguishes the �.rt
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