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<br /> 1, pwy�ucnt of Prindps►t,[nterest aad I.ate Charg� Honrowcr shult puy when due the pdncipal of,and inter�st on, �`
<br /> thc dcbt cvtdcnccd by thc Notc nnd lute churgcs duc under the Note.
<br /> a. Manthfy payments at Tox�,In uranc�e and Other CIItarg�. Borrowcr�hull include in euch monthly �►yment,
<br /> togczher urith thc principal and interext � set farch in thc Nrne un�a y latc charges.nn i�stallmcnt af any (n) tuzes and
<br /> tiperiui i►ssessmcnt�Icvi��d or to bc 1 cd aguinst thc Propetty.(b)1 hold pnymenl.+or gro renGv on the Property.und
<br /> (�l Prcmiums far inyurnnce requi y Pnrap,mPh 4. � _
<br /> puch manthly instalinte ar items (a), (b) und (c) sh cquut c►r�e-twe{ith of c annuai umounts, n, ren.�n y
<br /> esttmated by Lender.puua �t forsca hcttcro shnllhe an umulaited by Le d r wi n� A penod endin g•n�manth� ore un
<br /> w m a u n i 9. 7 1�e F u i l a n n �c e m s�u), (b) and ic1 ore they
<br /> item would become nquen� Lender s h�l l ho l d t he ou n u c a l l e c t e d i n w s o p u y
<br /> bccamc delinquent
<br /> If ut any e t�o�ptu� of�►e payments hel y l.ender for itc�ns(a). )and (c).together with the ure mon y
<br /> pny�ne»tx far ch Itemw puyable to Lendet pdor the due dut�of such ite ;,exceeds by more than one-st �e���
<br /> umount o aymen4v r�quired to pay such tems when due. and if �ymen4s an the N�te ure cu ent, �l►en Lender
<br /> shall ei r rcfund the excess over one-six of the esUmuted paymen or cmdit the excess over one-.' th of the estimated
<br /> p�y ts ta s�bxequent paymenus by Bo wer.at the option of Bo wer. If the totul af the paym xs msde by Bomnwer
<br /> far item(u).(b).or(c)ix insufficient pay the item when due,th �oirower shall pay to i,ender y amount nece.csury to
<br /> mnke up the deficfcncy on ar before e date the item becomes d .
<br /> A.q uscd in thls Securlty Ins ment,"Sure�aiy"means �re�Y of Housins and Urb Development or�h1n which
<br /> designee. [n any yetv in whtc e Lender mu5t pay c►mo uge insurnnce prem�um to the ecmtnry(or any y
<br /> tiuch premium would hove n required if the[.ender s eld the Security Instrument) h manthly puyment shall
<br /> include either. (if an insta nt uf e insn�+�� ortga m f�S�jsecuriry In wmen i�d e d by the Secretary. Ea���r°��y �
<br /> monthly char�e instead a mortgag P
<br /> in+tatimcnt of tf�e �gsae iesarance prcmium . be in rm umuunt �ufficlent stccomu.ate the fuD annual ort�ege
<br /> ��u�ncc pr�miu lth L,ender uno munth p r to the dute the tull annual rtgage insurancepmms u�n is ue to the
<br /> Sectet�ty. or tf is Securtty Insaument is d b the Secretsny. ea�h mon y churge shall be in an am mt equal to
<br /> ane-twelttl�of ne-hulf Qercent af the outs ' g p�ncipal balonce duc on the ote.
<br /> If So wer tendcrs to Lend�r thc U payment of ail sums secured y th[s Sec�nty In.suument,B o °W e insar�nce
<br /> sh3l1 be tted with the balunce re ainin� for nll inswiln�entK for it s (a), (b) and (c) and ai►Y �S
<br /> premtu instullment that Lender hns not become abltgated to puy to the Secrecary'o�►��n�i ,s�.� y�nderY Borr we�s
<br /> excess funds to Borrower. immediutety prior to a foreclosure sule of the Property_
<br /> uccount shall be credite�wtth+inY balance rem�ning for all installments for items(a�.(b)and(c)• nder us followe:
<br /> 3. ppplkation of Paymentg. Aq puyment4 under Parngraphs 1 nnd 2 shnll be aPPlied bY
<br /> �$�,to the mortgage insuronce premium to be paid by Lender to the Secretary or e monthly charge by
<br /> tha S�xcetnry lnsteud of the monthIy iiri,tt�a�a in,usa�ce pt�ns3sssn: _
<br /> xce
<br /> SECOND,to uny taxes. spcxiul assessments,leaschold paymenGg or ground reni.w and fire. flood and ot cr
<br /> hamrd insutanoe premiumr,,as t�eqained:
<br /> �w interest due under the 1Vote:
<br /> ,to um.orti7nt[on af ttte principal of the Note:
<br /> .W lute char es due under the Notc.
<br /> whether now
<br /> a� ��,�a�p�r H��1 Insurautce. Borrowcr shnll insure all improvements an tYta PropertY•
<br /> tn existence or subsequendy erected. against any hazacds.cacusilties,and condn�encies, including fue.for which Lender
<br /> cequurs insurance. 'ibts insurance shuU be mainwtned in the amaun�4 and for the periods d�at,Lander requi�es. Bortower.
<br /> shall also insure aU improvements on the Property.whether now in extstence ar subsequendNYed b Ixnd=st�'[�e i�i�silrunce
<br /> to the extent required by the Serretary. All in.cur.ancc sli�ill be cnaied with comganies apP
<br /> poltci�s and nny cenewnls shall b�e held by Lender and shall include losc payable clauses in favor of.and in a form ecceptable
<br /> w.Lender.
<br /> In thc event of loss.Botrower shall givc Lee�der i�nmediate nouce by mail. Lender may make proof of loss if not e
<br /> . pmmpdy by Borrower. Euch insurnnce oompuny concemed is hereby nuthorized and djrected co make payrteent for suih�l ti
<br /> direetly to L.ender.instead of to Sorrower and to Lender joindy. All or any part of the insurnnce p�s may be upp Y
<br /> Lender,at its opaon.either(a)to the r�eduction of�he indebtedness under the Notc and thi�Secunry L►suumen�ftrst co any
<br /> delinquent umounts apptied in the order in Farag�ph 3.and thcn to prepayment of principal,or(b)co tl►e��due°date ot,Pthe
<br /> of the damaged pmpertY• a►YapP�icarion of the prooeeds to the pru►ctpal shall not extend or po.tpo
<br /> monthly paycnents whlch are rccferred ta i�Pu�r�a���g�i°a��ne�ss�und�the I�ote und thi Securiry In uu�nent s�be
<br /> procceds over un wnountmq uired w pay ��
<br /> puid to d�e eatiry log�lly entitled tt►ereto. that eaan es the
<br /> In the event of forerlosure of tfiis Security Insdument or other transfer of ade to the P[opetty !N�
<br /> indebudness.all righ�tifle and interest of Borrower in nn�d to insumnce pol�c�es in fone Shal�� �g p�App��n;
<br /> S. Occupttncy. �n'etlon, Maintenanoe snd �°�oas Borrower���p�1�idence within sixty duys after
<br /> Lenseholds. Botrower shall«xupy,estAbli�h.and use the Pmperty P�Bo�W�..S prin�p��tdence for ut
<br /> the execuaon of this 5ecurtry Inxtrument und shall continue co occu�9 the PraPert�'
<br /> least one year atter the dnte of oocupancy.unless the Secm.tary determin�this requirement wil]cause undue hudship for
<br /> Botrower,or unless extenuating circumstances exist ti�ich ute beyond Bonower's e�nuol. Borrower shall no6fy Lenders of
<br /> nny eatenuating circumswnces• Borrower shail uot commit wnate or destroy.damage�r substenriaqy ch�u►$f the Piro���
<br /> allow the Property to deteriorate.rrASOnable wear and teur cxcepted. I.ender may mspect the PcopertY P�m'
<br /> vucant or abandoned or the loan is in defaulG Lender may tnke r�asonnble action to pmtect and preser�e such vucant or
<br /> abandoned Property Borrower sh�il also be�n default if Bomower,during the loan appUcadon prooes.4.gave materially fa�se
<br /> nr inaccurate information or stutements to i..ender(or failed tn provide I.ender wtth any materinl infom�ucion)In Connection
<br /> wlth ihe loan evidenced by tho Note.including.but noi lim(ted to.cepr�sentadona con�min�$orto'we����Pro isions of
<br /> property as A principal residence. If this Securicy Insuument is on A lcus�ehold,l3atrnwer shall menply P
<br /> the teass. (f Borrower acqui�s fee dde to the Propei4y,the lei+sefiola and fee tide shall not be mctged unles.4 L.e�der uSr�to
<br /> _ the merger ie�weidn�. • Sonower shall pay u�1 �ovemmental
<br /> - 6, �hs�e.y to Borrower and Pi+otectton of Lettder's RdgTits in the PsopertY• ��obl� adons on
<br /> or manicipal charyc.w,fines nnd imposidons thut are not includcd in Parngraph 2. Borrower shall pay 6
<br /> rt�e direr�lv m the endri which is owed the paymen� If fatlure to puy would ndv.��e=yo���V d���ntemst in the
<br /> � �P�Y�utx►n Lendc�°s srqucst Borro�ver shail prompery rumim io ua�•�•.�;,,:��••h 2°or faiis to per[urm wiy oQz�:r
<br /> If Borrower fuits to muke t6ese nnyments or the payments required by P�►ra�raP
<br /> covenants und u�:ments contoirte�tn this Security Instrument,ar there is a legul proceed'►ng Nnt may tiignificundy affect
<br /> Lender's right� in the Property(such as a ptoceedtn8 in baniccuptcy.for rnndemnatian or to enforce lnws or regulaqons).
<br /> then LEnder mny do und pay whutever is necessuty to rotect the value of the Pro rty tu►d Lender's right�in the Pro�rty.
<br /> e p
<br /> _, inctuding pnyment of tox�,huzard insurnrtce and nther tcems mh i,o��e�ionnl debt of Borrower und be secured by
<br /> Any smounts disbursed by L+ender under this Paragrapl�•
<br />-- thiti Secudty Inswmen� 'Ihese umounts shall bear inter�t from the date of dLsbunement,at r,he Note rute.and at thc opdon
<br />— of I.ender.shuU be immediutely due and payable.
<br /> 7. Condemnadon. The pmceeds of nny award or claim for dnm.nges,direct or consoquentiaf.{n rnneection with any
<br />-- condemnation or nther taking of any part of the Property.or for conveyance tn place of mndemnutton,csre hereby a+si�ned
<br /> -- und shull be puid to Lender to the cxtent of the full tunount of the indebtedness that rem�ins unpaid under the Nntc nnd this
<br /> Secudty Inswment. Lender shalt apply such pmceeds to the reducdon of the indebtedness under the Not�and this Security
<br /> inswmen� fint to nny delinquent amaunts appliecl in the order pmvided in Parngcuph 3. nnd then to pmpayment of
<br /> _ • 1/wRe 2��j4 p�rgrsl
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