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<br /> � -;� : 92_ i�)��53
<br /> �' . a�" l. P�yMeat o�Principab latere9t u�d Late Cbor�a Botrowa ahall p�,y wbcp due the principul oi,and iruetest oo.
<br /> ,.� •. ,. the deM evjdenced by the Ndc and late charges due under the Naro,
<br /> -'."�..••_ 2. MoathlY PAY�ntr d'7yucea.l�uraece oad Olber Ch��. &►nowe;Fhr�ll include in each monthiY PAYmen�
<br /> � � • �� " together wi�h the principal and intercst as ut forth in the Notc and uny latc chsr�rges. w� instollment of rny (a)t+utes and
<br /> ' �" - . ' •-. � spocial ossessmenta levicd ot to be levied ag�inst the Propeny,(b)lexcehold p�ymGnw�����nt�on the PropartY.�nd
<br /> � w x4 'y �
<br /> ,�.��,�s'� .. (c)premiums for insuranre rcqui�ed by Parag�aph 4.
<br /> .°' ,.r � Each monthly inuallment for items (u), lb) t+nd (.c)aha11 4�qu� one-twc�fth.pf �he annwd amoun�s. s�s reasons►hly
<br /> �+ n Z:'; esdmated by Lender, plua en amount sufficient to.ma�nWdn un udditiapa� ��r oi not mor� �hsu► ont-sixih af the �
<br /> `' •.. ."'* � estimyued amounts. The full onnwd amount for earh item shall be uccumulc�r,e�bY ��r within p petiod ending one
<br /> ,. �. � month befon an itcm would become delinyucnt. I.ender r�lwdl hold�he amaun�,�calleckd�n tnut to pay i�ems(a).lb)�nd
<br /> �� '���. (c)beforo they bccomc deltnqucnt. -
<br /> ,,„�,'.;._ If�t any time the tutul oi the paymenis held by Lander for items(a), Ib� And tc),together with the futurc munthly
<br /> ��` :����� payments fa such itcros payuble to Lendcr priar to 1he due datew of sucb itqRng, eaceeds by more than one•sixth tha —
<br /> _� ' estinwted umount of payments rcyuired 1opay such items wlKn due.ond ifpayt�nt�on the Nou tue currenb then L.ende� _„_
<br />��� :�2. �' shull eitFKr rcfund the excess over one-sixth.pf the estimuted puyments or c ired 1,sh�excess aver one-sixth of the estimated � _ ___
<br />���� '' • p a y m enta to cu b s e yuent puymen�s by Bomqwer,at the optian af Bomower. If►he total af thc payn�ents made by Borrower
<br /> . ��'�`-�` for item(a).(b).or(c)is insufficient to pa,�the ltem when due.then purtowet Rhall pay to L.en�ier aoy a m o u n t n e cessary t o —�--
<br /> �� �;:; make up the defciency on or before the dat,a Ihe ftem becames due. _
<br /> �•..��,;, . �-° . ' , As used in this Secudry Instrument,"SecreUuy"meuns the Secretury af Nousing and Urban De�rlopment ar his or her
<br /> : �� .•:�: •. • designee. In any year in which the Lender must pay a mahgaRe insurqnce p�mium to the Secreu►ry.euch monthly pa►yme�t _
<br />�','" ,;,�"�, . �'" shall also include either. li)an insutllment of the annuul mortgpge insN�nre premlum to be paid by Le�xler to Ihe
<br /> '�'�� � Secretary, or(iil a monthly churge instead qP s mangage inauranre premiNm �f th�s Securi[y Insaument is held by�he _
<br />. . ...: ,
<br /> i. , -..;a� ..,:' �` ' Secreuuy. Each mon�hly inswlln�ent af the mangage insuraacc premium shtdl be in an emounc sufficient a accumulate �- ._.
<br /> -..;�, .. , ' full annual mortgage insurnnce premium w��h Lunder ane maoth pri��to �he date the full annua! mon�u,�e inaur.uue
<br /> . r•.= premium is dua to the Secretary;or if this Security Insuument i�held b���hc Secretary,esuh monthly charge s7u�11 be in un _
<br /> wncwnt equW to one-twelfth of one-half percent af the outstnnding prine�ptJ h�ltu►ce due on�he Note. ___
<br /> � ���;� . ; ' If Borrower tenders to l.ender the,full puyment of ull nums s�cursd by this Security Inspument, Bomower�s account
<br /> shull be cr+edited with the balance remaining for all installmenta for itemc (a), lb) s�nd (c)sud any moAgnge insurance
<br /> ' premium ins�nllment thAt Lender has nw became obligated to pay to the Secre�ury,und Lender shall prompdy refund any �4s•.�
<br /> � r�•,; excess funda to Borrower. Immediately priot to a f4reclasure ss►le of Ih�Property or its ucqui�itioa by Lender,Borrower�s
<br /> ^ ' ' . nccount shall be credited with any balance remaining t'a�all instullme�t�.for items(a),(b►wid(c),
<br /> ` 3. Ap�ficallon ot Payments. All pp►yments under Porngrnph� 1 und 2 xhull be applied by Lender ur+follows:
<br /> .; �,:�'• � �jg�1 to the mongage insurence premium to be paid by Lund�r to 1he Secretury or[o the monthly charge by the �
<br /> � Sec� insteud of the monthly ma�tgage insurnnce premium; r.•.,�i^'
<br /> � �,�.to any ts�xes,spe�:iol asse�sme�u.leas�hald paymenas.qr ground�ents.and fire.flaod and aher hazant ..
<br /> -— �` - insurance premiums,n�r���i�xi; __: -
<br /> , T}jJB,�,to inlerest due under the Noce;
<br /> ., rou�,to umonizatian oP the principal af'the Note; --
<br /> ' �b,to la�c chart;es due unJer the.Notc.
<br /> � d � 4. Fire.Flood and Olher Na�r4l�cu�antx. Barn�wer rJ�a11 in+urc ull improvemen�s an the Property.whether now
<br /> in existence or subsequenUy erected, u zinst tmy hur.utds,c+u.ualiie3,and comingen�:ies, including fire,for which l.ender
<br /> requires insurunce. This insumncr shal�tk.muinW�ne�!in.the.amnunts and for the periods that Lender requires. Borrower ��v_
<br /> " shall�Iso insure all improvemenis an the.�ro�rty.w+hather nqw in exi+tence or subseyuently erected ugs+inst lo�s by tloods �
<br /> t�the extent required by the SecretAry. All invurnnra.eh;i11 be curried wi�h companies appmved by Lender. The insuronce �-1"
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<br /> . , policie.c und any renew�ls shull be held by Lender and nhall include loss puyable clnuses in favor of, and in a fatm 6�
<br /> . � . , acceptable to,Lender. ��r'"'
<br /> , ,., ` In ihe event of lo�s, Borrowcr,hull give Lend�r immediate n�kice by mail. Lender mvy muke proof of las+if not �____
<br /> ' �� made promptly by Borrowec Euch insuauire comp:uiy concrrnrd is hercby uuthuriied:uid directed to mnkc payment for
<br /> � such loss dircetly tu Lender,instead uf ta 8orrower und iu Lender j.�intly. AU ur:u►y pan of the insumnce proceeds may be
<br /> • ,,,�hy„�., upplied by Lender.ut i�s option,either(al to the reJuc�ion uf the indeMedness under the N�nr und this Securny Inxtrument. � _
<br /> .;,�,,,�,: �rst to any delinyuen[ umountti upplied in�hr ordrr in t'ura�raph 3. :md then to prepayment af principal, ar(bl to the w.-��
<br /> ' � restorntion or repuir of the dumagcd propeny. Any applicati�m ut the procred.to the pnncipul shufl not extand or postpone
<br /> � ° the due date of the monthly puymentx which+ve retcrrcd to in Paracraph 2,or rhunge�he amuunt of such payments. Any �� ,~
<br /> excess inwurance praeeds over:m umuunt reyuired to pay ull out.tanding inJeb�eJnc.s under the Note and this Security
<br /> " � • Instrument shull be puid ta�he entity legally entidcd thereto. �__
<br /> In�he evem of foreclosure oP this Security In+trument or uther trunsfer of ti�k to the Proprrty thul extinguishes the _ _
<br /> 3 indebtedness,ull righl,tiUe•rnd intere.t of BoROa�er in:u�J tu in�ur.►nre palicieti en furce+hull pa�s u�Ihe purchuser. �;�`;
<br /> . S. Occupancy, Prescrvatiun. Mui�tenaace und Protectiun oP the Propertr; Borrower's Loan Applic�don: �r r
<br /> •� �� Leaseholds. Borrower shull accupy,estublish,und uxe the Proprrty us Borruwer+ princip•rl rcsidence within s�xty duys
<br /> � ufler 1he eaecution oi�hi,Security Insln�rnent;md.hull conlinue to�xcupy the Pro�rty a�B��m��ver�principul re+idence � '
<br /> � . ' far at Ica.ct one yeur after Ihe Jute of�xcup•rnry,unle»the Secretary detemiine.thi.r�yuimment will cuuse undue hurdship �
<br /> - �r;.,,,l. �. • for Bor�wer. or unletiti extenuuting cirrum.tanre, rxi�t which ure Ixyimd Burn�wer: rurnrol. Borrower �hall nutify
<br /> ��?;,< �• ' Lenders of any extenuating circum�wnce,. Borrower.hall nat commit wa.te ur de.uov.Junw�c or substuntiully chsuige �
<br /> " lhe Property or allow the Propc�ty to deteriorut�.«a�oouble wear:utd Icar r.rrepted. Lcndcr muy impect thc Propeny if thr E
<br /> � Property iti vacunl or abundoned or thr k�:u►i+in drfuul�. Lrndrr may takr rra�conublc action�o pnnect;u�J preservc such ,
<br /> .:,1 j vucnnt or abandoned Property. Borcow�er�hail nho he in Jrfault if Bartuw�r, durin�:the Iwn appli�u�ion prcxess, guve :
<br /> � :�� mnteriully false or inuccurate infurmation or .iatemeni. to L�ndrr lor failyd to pruvidr Lender with any matenul i
<br /> �''�. , infortnationl in connection with the loun evidenced My Ihr Nutr.inrluding,hut nnt limitrd a�,repn.rntationti conc�:rning
<br /> � . Borrower z ocrupancy of Ihe ProFx:rty u,u prinripal re.idenc�. If thi,Securit) In,trurnen�i�i�n a le�,rhold.Bormwer+hall .
<br /> ;"��•,•.:: ramply wilh the prov�.ion.r-of thc leu+e. II'Burrow�r uryuirc. Ic� tillr t��th�Pruperty.the IeaxhulJ und fee tidc�hull not �
<br /> • ,i".,;•r,� ' be mer�ed unle,�Lender uFrec,to thc mrrgcr in writing.
<br /> •. �f:�� , • • 6. Ctwr�rti to IMrrower und 1'rot��clion of Lender's Riuhtx In the 1'rnperl�. B��rma cr�h:ill pay ull gavcrnmental
<br /> r.•
<br /> � ' ' ��r muniripul rhar�e..firk+and im{x,.�u�in,that urc not inrludcJ m Paragruph�. N�,rru��cr.hal! p:n �hc.r uhliga�ion�an
<br /> '' ' , timc dimrlly to Ihc entity which i,u��•c�i ihr paymrn�. II failutL t�� p:�y ����uld:�dvrnrl} �dfcc� Lrndcr: intrn�� in thr
<br /> .,?`�;`':;;,. . � Property,upon LenJrr:rcyuc��Burru��cr.hull promptl� iumi�h ta l.enJrr rrrr��t,c��Jcnrin�;ihr.r payment�. ,.
<br /> •' If Bum�wcr Fuil. ti�mab� thr+r pa�mrnt�ur thc paynun�s nyuircJ h} Para�raph '. .,r t;�il��u �xrtiirm any �,thcr
<br /> 1�.�";:''`,: ' covewms nnJ aereenknt�runtained in thi,Scrurity In.trumcnt.nr Ihrrr i.a I�gul pnxcedin�,Ihat ma) tii�nitir:utlly atTcr�
<br /> ...---:;;� _
<br /> ,•y... � Lender's right+in the Pn��xrty I�uch a.a pnx•crJing in hanhruptry.fur«�ndrmnauun ur tu emune iuw.or r��uiai�v�n�.
<br /> . .,' � then Lendcr may du und pay whatcvcr i. nerc.•:ih tu protect the��alur u(th�1'ro�xn�anJ l.ender;righ�.in Ihc F'n��xny.
<br /> irKluding payment oi't:uers,h;uard intiuranrc und uthcr item+mrminncJ in f'��ra�.raph 2.
<br /> � Any amount�di.buneJ hy LcnJcr unJrr thi, Paragraph .hall Ixramr an adJiliuiwl drbt u(Horruacr and tk,r�ureJ
<br /> by�hi�Security Instrument. Thr�r um��um..hull txrur intrrc�t (n�m Ihe datc of ditihunemcnt,at Ilk Nu�e ru�r.anJ a�ilk
<br /> • oplion uf Lcnder.+hall lx immeJi�trl�•Jue und payahlr.
<br /> . � 7. Cundemnatton. 11tr pnxe�J�ot'rny award or claim t'ur Jamagr+,Jin�i��r run.�yu�miul.m runncrtiun��nh anv
<br /> Irondemn:�liun or uther wking��f w�p parl uf Ihr Pn►perty.ur titt rumev:uKr in place ul��md�mnauun..�rc henh� .i..iEnrJ
<br /> � , unJ+hull�paid tu Lcnder tu thc catrm uC thr full•rmaunt��I thr indch�ednr..that rrmain+unpaid w�der ihc Nutr anJ�hi�
<br /> Sc�urity In,trument. Lender�hull apply.urh pnkeeJ�tu the rrductiun of thr inJchlydnc��unJer thc Nute and thi�tiecun��
<br /> In�trumcnt,tini tu uny delinyuent ami�unt. �pphrJ in �he unlrr pruvided m f�arugraph �. anJ thrn a� prcpa�mrnt ut
<br /> pnncipal. Any applicatiun �if thr pnxred+ tu thr prinripal ,hull nu� c��rnd ur �w�qxm� thr due date ol the m�,mhl�
<br /> ' � . ' � �r,�e,•_,•r�t����rr„
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