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<br /> '3t1RR(3t'r'rk C�3VEN:1?�TS thnt Burrowcr is lawfulty scizcd of the es?ate hereby c<��vcyed and has the right to grant
<br /> � ::��� c:�n�c� the r^*o�ert. and that:he Property is ur.entur^hered,eccept for encumbrances of record. I�orrower wanants and
<br /> �;, ��.ii� ��icn•.l�e�eral�; L:c title to the Froperty atainst�ill claims and demands,subject to any encumbrances of record.
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<br /> �`:<, t'ti[2�C��:�f�O�'rti:��TS.
<br /> �'` ? �'a_ment�f Yrincipul, [nterest sen�d Late Charge. Bo�row�r shall pay when duc the princin^� of:and interest on,
<br /> "� `� d.;�t c� �er,ced n� �F•e N�te and lat�charges c;�e ur.cer the Note.
<br /> k�`.=: 2. :,lonthl}� Ys�ment of T�ces, Insuran��;anu' Oiher Charges. Borrower shall include in e�ch mc�nthly payment,
<br /> E'"'' , •.�ii5 the principal ar,d interect as set t���rth in the Note and any late charge�, a sum for (a1 taxes and epecial
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<br /> �`:�� .��•r���:�:-cnt le��ied cr t^ be le��icd aga;nst d�e �?ropertv, (hl leasehold payments or groE�nd rents on the nroperty, and
<br /> �''` i;r:um< ���r insurance required under P:ua�raph 4. In any year ir, which the Lender must pay a mortga`�e insuranre
<br /> �x t;rr;�.ittm :o t�e `ccretln• of Housing and Urban Devel��pcnent ("Secretary"), o� in any year in which such premium would
<br /> �""` .��^ t�°.� :c;;u::ed ii Txnder stif! held the Securiry InsUVm�nt,each monthly payment shall alsc• incli:de either. (i) a sum for
<br /> � th�anr,ual ttiert;age insurance rremium to be ptud by Ixnder:a the Secretary,or(ii)�rronthly charge instead oi a m�rtga�e
<br /> A* ins;�r�nre premium if Lhis S-curity Instrument is held by t��e Secretlr}+, in a reaeonable amount to be detertnined by the
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<br /> !�:'� C,c-c:::..�:. f.:s:ept fur thr monu�'.v cha;ge by the Secret�try,these•iiems are called"ESCiOW I�C(i15��and the sums paid to Lendcr
<br /> �;:�: ._. c.��ic�! "i:�crow Fundc,�• -
<br /> �'• 'cr,�ler t�ia�•,at anu time,collect ai��i hold amcunts for F.scro+v Items in an aggregate amount not to ex,.eed the myrirnoim
<br /> �`�; _, :c snt ?,'�::+, ma; ' reqturec' �ar Borrowe�'� escro��� necoont u��der U�� Real Estate Setdement Proce�ures Act of 1974. 12
<br /> €. :..S.C".� :`;:01 et se�. anti implemcnting regu���ior;s. 24 CFR E'an 35(�, a� thcy ma� bc amended from time to tirne
<br /> ` = P?;Sf':1"`,e.rcc�;t that the cushion or reser��e pernu�t,�l hy RESE'A for unanticipated disbu:sements or disbursements he:fvrc
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<br /> :r.e:'s��;ro�.�ei�payment.ti ase a�aila�le in t'ne�ccount may�i�,r bC;b,���d on<unoant�s due for the mort�a�e insurance premiurn.
<br /> if!h�.itr.e��r.ts he,d h� Lender for Escrow Iterr:s ex.ceed tt�� ainounts permitted to be held by RFSPA, L.ender shali deal
<br /> ,�:i,;� ;?�e:�ces� f�nd.s�s reyttirai by� RESP:1. If the amounts of fun�i;held by [xndcr at any timc :ve not sufficient to�a} the
<br /> .� :r;��c [:rm, ��.firn duc, L,ender may noufy the Bo�rower uncl rcy.,ire 6orrower to ntake up the shorta�,e or deficiency as
<br /> ^c•.^~��_:ci h4• RL-Si',1.
<br /> r`. "I�h�� F;c;�,v; Funds :ue plec,�ed as additional seeurity for �ill cums secured by ihis Security Instrument. :f liorro��er
<br /> ;,�; �ndr�. w Le�d�r the full pavr.ient of ai! such sums, FiorrUU�r_r'S aCCOU.�t sh111 be�redited w::� the balance remainin�, �ur all
<br /> ��.-;cr.t ier�n; (a), (h), and !c) :ind any mortgage in:urance prr�mium installment that Lender has not �ec�me ohligated tv
<br /> � ;h Sec*e�tary,cnd Len�ler shnll prom�t�y reCuncl am�excess `unds ;o Herrower. Immediatel��prior to a foreclosure sale
<br /> --,' .. c f'.e�en� or its acyuisition by Lender. Borrowei s ac�.:ount shail be credited wic�� ,ny bal:uice remaining for all
<br /> ,:.'-�nt: for�te;ns(a).(b)...n�.;(c}.
<br /> 3� `.rroticx';c��t Pa}�ments. .411�ayments under Paragraph� 1 and 2 shall be applied by Lcrde*.'ae follows:
<br /> k•;�� F?R�T, !�� �h�, mort�age irsur.rice premium ,o bc p.aid by Lc:nder to die Secrecary or to che rnonth(y charge by
<br /> j- t�e;:cre:�n� inste�c!of the mo:,'hly morgage insurance premium;
<br /> .`,�;t�i�ND, ��, a;�y �,�zes, �pecia! a�sessr7?er:ts, lease}iold paymeru or krcund rents, aiid fire, flood and other
<br /> iia:::-d ;r�ur::��ce premiums,as rc�yui�ed;
<br /> - 'rH��?D,to interes:due under 1"e Note;
<br /> ;r;� F()!_Y"TH,:o amo:tization of thc �rincipal of the No,c;
<br /> _ i_[i't ii.:o ia:e chcrges due under the Note.
<br /> �. !�'ire. ��r3�rd and Other t1a7�rd Ins�irance. F3orc:��,ver sh.il! irsi rr :ill improvcmrnts on the Proprrty, «hcthrr nc�«
<br /> �i ?c:r_e n; suu�.eyuentl} ere.eed, agains: any hazar�;, casualties, ani cor,ticihern�ies, including tire, ti�r ��•hich Lendcr
<br /> �r .cre� i�c;�.*arc�. T}�i� ineuiance ehall be maintaineci in u�e amoui�ts :�rd i�r t!:e periods that Lcrder reyuires. E3�rro�cer
<br /> - «i'.- :.!:;� ir��ure .:!1 i•r,nr.��emrnts c�n the ?ropert}, whether now in exister,�:e cir subseyuently erectrd, against Iciti. hv tlex,d�
<br /> :.• e.r�.�:�t r�r,ui�cr; ;>v ;'ic Secretary. Aii in<urance shtill he carrie�' �vitl: ,:ompanie� approvcd hy Lrndcr. l�he in,uran�r
<br /> _ „cir�::r.c! a;�� ;cre�.vais shc:l! be hcld b_: Lender anci sh�!I inelude los.;pav.,ble cla��es in favor ot.and in a form acceptah'.e
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<br /> "9 ir� t��e e•.cr.t c.i ic�;c. f3orrv.�•er shail }�ive Lcnder im;nediate notice b�; rn:lit. Lender may make Prrx�f of Icss it'nut madr
<br /> "� ,r� �,.t:; h= .T;o����.�c�. 6.:ch insuranre cc�mpany caricerned is herc�i�y aathorir.ed �nd directed to m:,ke p:ryrnent 'x,uch lus,
<br /> � c;i�e�tir t�� I �ndcr. in5te.:d�f�o Rorro�vcr nnd to Lrnderjoindy. A11 �r any�:art of the instirance prorecds may be appiied b��
<br /> K : I�ndrr. a! :,, �,;�tion, �:tf,er I.i) to the r�d���tion o;�t;ie indebtedness under the Note and this Se�urii; Inswment, first tc� ar.v
<br /> ;`;� c'�1ir.yuer�t::m��ar.t�a�plied in the order in Paragr�ph?,ai;d:hen to prepaymer.t of principal,or(b)ro the:estoration or rrpair
<br /> .,:� n'"th� ::ar>>:t�ed pr�,�;erty. Any application of the proceeds to dre principa! sha;? not exrend or post�ne the due datr of thc
<br /> ;�;;", �-r.mi:u.; p�yr.�rnc uhich are referred to �n Para�raph 2, or change the amaunt eF such payments. Any exce,s insurance
<br /> i:r,N e:�s e�.�r �n �rr.�unt required to pay a11 outstandinb indcbtednes.; under the No!e an� this Security Inswment tha;l be
<br /> ���� . ,,., _, z`.. rn:'y ;ega11:entitled thereio.
<br /> ;�� L: L:< e•.cnt of �oreclosure uE this Securiry I:istnimcnt �r other trancfrr of tide to the Proprrty that ertinguishes thc
<br /> , < ;edn<<,�,;til �ighC,!it,e anu in�errst of Ciorrower in and te�insurance policies in f'circe shall pass to the Furchatier.
<br /> �t S. (`cctiipancy, E'reservation, 1�faintrnance and 1'rotection of the Property; Borrower's Loan�Appllcatian;
<br /> :�;:f I.�a.seho3%.s. Borrower snall occupy,cttablish,and �se the F'roperty is Borrower's prinCipal residence within sixty days after
<br /> F'�` ,ke e:�c.:tic,n of this Se��nity Ins�-ument and shall con;inue to occcpy the Property as Bor7ower's principal residence for at
<br /> Icast �=ie }•c:zr a';cr the date of occupancy, uniess the Secretary detei�niir.es this requirement wilt cause undue hardship for
<br /> � Bnrrower,or unless extenuating circumstar.ces e�ist which are beyonct Borrower s contml. Bortower sh�ll notify [.enders of
<br /> '�' .�n: e�t�nu:�+in,� circums.ancr�;. S�r-c�wcr sh�t) not cornmit r��aste er deetroy,dama€e or substantially ch;uigc the Proper,y or
<br /> 1 � ..i�,;. =h�: ?'rnn<<r.v !�� r{�!�rioratc. rca�nnzh;e wear and tcar exrepted. Lender may inspect the ProExrty if rh� Pro�+erty is
<br /> �"�� � �r+ <, tiand<�ned <�r the 1��;?n is �n <ieF.tult. t_endrr may cake reasonahle action to �rotect an�l pre.5rrve such vacant e�r
<br /> .-�r ::bTr,<!�,r<� i;t�;rrtY. Bc�rro�.�cr tiha�( alto hc in default if Borr��u�cr.during tht !oan a�plication prcxes�,ga��c matrrially fal.c
<br /> "''� , ,.r fr.�.,:cu�a;�: inf-�rma:i��n c�r ;i�teir.�•nt. ,r, i_en�tcr (or faileel tc �rovide l.ender aith any m.rterial infonnalia>n1 in r�,nrirction
<br /> �' s `:� ( �.r, evider;cec.' bv tfic N�>tr. includin�t. but rt«t limited to, rerrex-�•itatiims concernin� RorTOwrr's c�crupancy of thc
<br /> t�` i rr,; rt,. ��. � ��rir.c:p::l rc�r(cntz. ff th��Sccuriry Inscrurn�_nt is on a Ica,chc�ld. �3orruwer sh�ill compl}' µ'IIII U1C (1fOVltil(�fl�l��
<br /> �� �' :;:,c. f; F;s�rru:�arr acq;:i;e�tcc tiile to Ux:F'rc�perty.thc Ir.a.tiehold and fre title shall not h.rncrged unlcxs Lrnder ugrc�s tu
<br /> _� n ;.,._ ; :,r�t nr�,.
<br /> ,�. �',. C #�ar�c�;!n Rorrower�uc1 Protect6on of Lrnder's RiQhts in thi Pmperty. F3orrower shall pa}• all gm�cnunent:il
<br /> ��; - ;�u;r;ic�,•.,! chart,e�, fin� ; :ir.;l impo5itions tliat :uc n��t includcd in F'aragraph �. I3c,rrowcr shall �ay thcsr ��bligutic�m �m
<br /> '? ; rr;r -lir::c:?{} cu �h�: cnG?;. w!�ich i.� nwcd thr p;tymrnt. If failu�c to ��:r-� w��uld adversci; :�lfcct i.�ndcr'� intcrest in ttir
<br /> 1 r �r,rr+,�, ,:•w�i (.cn<.i:�r'� rcuuc,t F3<�nnwe�,h:�ll txrimptly f�nrni.h to l,cndrr rrcri�lz ecidrncing thc�r t�avmrnts.
<br /> � tr� ,,r,��:cer ';�i, rr, u�.�kr th��5c payrnrntti nr thc ��.iymcnts rryi�irrd hy I'ar.it�rarh �. „r f.iil, t�� rrrti,�m ;in�� u�hrr
<br /> � '_; : � ��:� :�:5 :�;r •�T;,. r; cun!ainz<I in thi�; �.ccurily Intitrum!•nr, ��- thc;c i�. :t Ir�;:�1 ��rcKCCdinFt thnt tnay ti�nitic:inU� aftr�.t
<br /> ;�} i r ;:. � rir�.l�t�, i i rf,� :';�,p•.rty !�;uch ati a S,r�reeedink in hankn�rrcv. C�,r c�uulemnatiem e,r te, enf�,rre laws ��r rr�ul.iti�,n.ti,
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<br /> � r. ' ;.r,�'=°r rn;�� zln r�;,�� p.�}� +,�h�tevcr i� r�:�es<ar}� t�� }irotcct thr ��;il�ae of thr t'n�prrty ztnd (.rnilcr'� a�ihhts iri the f'ro��rrt�,
<br /> �� S �'i.;rrcnt;,! rar.:�<..h,�iar�± �n�ur�i�cc ancl��thcr it�.m<n�er,tiurt<-d in F'.u.ir�r:�ih 2.
<br /> `� `�n�� a�nn�uvt. �i��,f,�ir«:d t7v f.rndcr under thi�; P:�raFra�h eh<<II brc��rnc:,ri .i�lcliticm:il�rh!��f Re�rr<<wer:ind hr �rrurr�f h��
<br /> ',-� t .� S:•;:; ri�v !n<rrt•rn�n(. �he�;r, nm��unt� ehall hc:u'intrrett frCm the�I:de ��f cli•;hunemenl. at thC Nolc ratr, anil ut Ihc u�tiim
<br /> ;� r,t l�•c:;cr. s:f���li I� irnmr.tiat�ly duc and Payahlc.
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