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<br /> ���� ��� 92-- 1U0363 _
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<br /> — -=� l. PMyd�t o�Princip�b Inte�t aad LAte Cbary�e. Batruwcr siwll pay when due ihc principal of,unJ intrres�on,
<br /> r,�� tha dabt evidenced bp thc Nate and lii�e charges due under thc Note.
<br /> �' Z. Monthly pi�ymcnl�d'TAKae.lnwnace pqd Mher Cp� 8orrower.hall include in cuch monthfy paymcrn,
<br /> a
<br /> ��"�'"� toget►�with the princips►I and inter��t us set forth in�hc Nae an any lute churges,un inytpllmem of any lu)tuxes und
<br /> 1 .,�.. ;� - speciol assessiaents 4AVied ar ta bc levied againct tlx Pmperty.lbl le�x�hald paymen�+or ground rcni,on tbe Prupeny.and --
<br /> -,� �»�i�-�t�� � /cl pr�emiums for insunutice�equired by Paragraph-�. ",„.�
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<br /> i� -• '- F.ach monthly inuallment for ieems (a), (b) and lcl shall eyual one-twelflh af the unnual wnuuntx, us rea�onably
<br /> ����"�""�.� - eudmuted bp I.ender. plus un amount sufficient lo muintan un addilional bala�x�e ul nut nrorc thnn ��rx�-�+i�th uf ttk ;4y_- �
<br /> F ` esdmuted amou�tx. Tha full annuul amount for exh item shnli be uccumulated by l.ender within a pericxl end�ng ane �.
<br /> , . ,, � manth befote an itFm wcxdd become delinyuent. Lender shall hAld the amoun�.�rollected in tru5t to pay items(a).lbl and
<br /> -- �� • , (c)befcme lFiey beaur�e dellnquent.
<br /> "' '�y If t►t uny time thc tdwl af thc pnymen4s held by Lender for items(a),Ib)and Ic),tugether with the tuture mon�hly
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<br /> ' t.� ,.�'�,� "� paymentc for such itams payable to Lender prior�o the due date� of such items, eaceeds by more �ha�one-sixth the
<br /> y�',; ;,;.' . '.;+` estirtwted amoum�f pay'rnents�quir�;d topay such items when due.:uid ii payments on the Note nrc current,then Lender _.---
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<br /> • .,.,�.-;,,� shutl either refuntt the axcess over one-sixth of thr r�dmated paymentti or credit the excess over one-,ixth of�hc e�timated
<br /> ,�.n�i+� �:��;,kj�': payments t�subsoqµent payments by Borrower.at the option of BoROwer. If Ihe totul of thc payments made by Bortower
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<br /> for item(a),(b),nr!c!i�msufficiem ro pay�i�iiem when due,then Burrower shall pay to Lender any amount necessary to ��'s-�-
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<br /> „ ,..; make up the Qefkienc��uri or UrfwY�fK:Jate die item becomes due. ----
<br /> "''' ' .z;. '- AS usecl in this Security Instrumcnt."Secrctury"meuns the Sec�etary af Hausing and Urban Development or his or her --
<br /> �'q' . ;^;y designee. In any yea�+n which the I..�:nder must puy a moriguge imsurar�prcmium to the Secretury.euch manthly payment __
<br /> ;�'t' � �� �' � shall also include oithe�: (i) an im�tallment of the annual mortgage insurrnce pmmium to be p:ud by Lender to elu _-
<br /> ,;; • ; ,.?�Y Secretary,ar (ii) A moo�hly chcuge +nsteud of u matgage insuronce premium if this Securily Insuument is held by tlx .r:----
<br /> k�-'� i ,y_�_: •`�.ui.,;,a Secnetury, Fach monthly inatallment ul'�Nr��wrt�age in;urance prcmium.hall be in an umount sufticienl to nccumuls+te the 4'�
<br /> ,,;,:y� full unnual mortgago insumnee pr�mium with �ender one month prior to the date the full annuul mortguge insurence
<br /> • , :.�.,; � prcmium is duz ta the Secrctary:or if�his Securi1y Instrument is held by�he Secretary.each monthly charge shall be in an �',.;y�.��'
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<br /> � �i,���c•;�' umount equal to one-t���elflh of�ne-hnlf percen�of the outstunding pnnapal t�alunce due on the Note. it���,
<br />�• {. ,; k rt,i�1J;,�:;;�.'' j If Borrower tendec�ta l.ender�he full payment of All sums secured by�his Security Instrument. Borrower's accouM �� �
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<br />� ._�;'#,�1?'•�"!l���i't'•.r�;!,', ' shall he credited wilb d�r halance remaining fbr ali installments for items Is+).Ib)and(c) and uny moAgage insurance ,::��--�
<br />' .��1�����t�' pr+emium installment thpt Lender har�not becomc ohliguted to pay to ihe Secretury.and Lender shull promptly refund s�n l-4,a .`
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<br /> � �'• �'�.�•`'.< excess funds ta Borrnw•ar. Immedintcly prior�o A foreclosure wle of the Property or its acquisition by Lender.Borrower _�__
<br />�• �-. ;�� �'" aecount shall be creciited witb any balance remaining for s+ll in+wllmeots for items(a),lb)and Icl. ,:�;,,
<br /> ;•t'. 3. Applkation of PAymant�. All paymenls under Purugraphs 1 s�nd 2+hul l be upplied by Lender a.s followx: -� {
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<br /> E1j3ST to the martguge insurnnce premmm to be poid by Lender to the Secre�ary or to the monthly charge by the ��.`
<br />; :� :� Secrct instead of tha m�nthly mortgagc insuranc�premium: _,.��
<br /> � t_; ; � A �to uny taxe�,special a��esxments.lea.rehold paymen�a or ground rems.and fire,flaod and other Bazard
<br />,� �;—��, in,::,�a:.cc p�miums,as requ:ted: �t =
<br /> , �. ;�_ ,�,;_�::� THIRp,ro intarest duc under the Note; �;,�,. �
<br /> �, �•;�.<,,.,.t':...r �.to amarti�etion of thc prinripal of the Notc: 5.���
<br /> .:. ..j{,'r�:�..���'. �,ta lale char8e.r due undcr�h�Nate. �;�:;.
<br /> ;,r,��� ?,, , ' 4, Fire,�load and Other Ngzard Insuronce. Borrowcr xhall in+urc all improvemenls on thc Property,whether now .;,;;=
<br /> � '',�; � in aaistenve or subsequently erected.ugpimt uny haiurdti,casualtie,, and contingencies,including fire,for which L.ender ;,_
<br /> � ��, requires insurance. 7'his insuranca ahall bc:muintuined in the umnunt,und fur the pericxis that Lender reyuires. Borrower �.F..,�;�.•.;
<br /> ' • - shall alxo insure nll impmvamen�.im the Propeny,whe�hcr now in existence or subseyuendy erected,against loss by floods , ,�;
<br /> � • �} to�he extem reyuired by the Secre�+iry. All inxur:uire,hs�ll he carried with companie�upproved by Lender. The imurance �_.1,�:`y
<br /> ' "� , policieti and s►ny renewals .hull be held by l.encier and shAll include los�puyuble clauses in fAVOr of, und in a forn► -�"
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<br /> , • .. . acceptable to,l.entier. ���
<br /> • In the event of la�x,BoRawcr+hull give Lcndrr immeJiatc notice by muil. Lender may moke prc�of of loss if nd �;,:g,�..:
<br /> � „� made prompUy by Borrower. Faich in+urunce comp:�ny conremed i,hereby au�homed nnd direeted to msilce payment for E:��-"--+•
<br /> . ' � such loss direcUy ta l.ender.in�toud of to Borruwer nnd to Lender juinUy. All�.r nny parl of the iosure+nce proceeds may be :��su_,
<br /> •. � . ''` applied b��Lender,ut ils optian,cilher(u1 to�he rcduction of the inJeStcdness undcr thc Note ond this Secunry Instrumen� �:;3i�=-
<br /> ' `' first to any dellnyuont omaunta upplied in Ihe urder in W.uu�ruQh 3, und Ihen w r� a ment of rinci aL or(b) to the
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<br /> „ reatorAtion or repa�r af the dnmuged pn►perty. Any upplicatinn ot the prcxeed,to the pnnripul shull not extend or postpone t;,':�.,;,:d
<br /> ' r, the due dute of the monthly payment,wh�rh:ue ml'rrmJ tn in Ps�ragraph 2,or change the umount of such payments. Any T
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<br /> ezcess insurance prcx:eeds aver un umount reyuired w puy ull outstanding indrbtednes+under�he No�e and this Securiry �„ ,E a�•
<br /> . Instrument shal(be paid�a the�ntity Ic�!ully cntilleJ thereto. :�+4�'"�"'R`=
<br /> ' In�he event of fnreclosure ul'�hir Sccurity In.uument ur��thcr truntifer uf�ide to the Pnipeny �hut eatinguishe. tt�e ,�:�;_,
<br /> ��� indebtednesti,ull right,tillo und imrrc+t uf Burrowcr in+u�J io in+urancr polirie.in ti►rc�xhall pa�s to�he purchaser. � •• • °•
<br /> � 5. OccupAney. Preservation. Mointenance and Proteclion of' the Property; Borrower s Loan Application; �,��
<br />� . . � Leaseholds. Borrow•er .hull cxcupy,estuhlitih.:uiJ uk the Pmperty a� Bixrow•cr z princip�l residence within s�xty dAys �{;��____
<br /> ofter the execwian of this Serurity In,trumem and rhpll rontinue�o occupy ihc Propeny as Borrower'.s principal rczidence �':;�.-:�;
<br /> .,. �:-;-_.
<br /> � for a1 leust one year aftor the dute of�kcupanry,unless�he ScrRrrp•deiermine.�hi.myuirement will cause undue hatdsbip .�';,�,:;=
<br />' � ,�i for Borrower, or unles. extenurling ciRUm�lunce. rxi�t whirh ar� lx:yonJ Borruwcr:rumrol. Borrower .hull noti(y 1
<br /> . ' , . ,� Lenden oi any extenuating circumx�ilnre�. Borrower tihall no1 cammit w•r�le or dr�tmy.dama�e or sub�tuntially change •
<br /> the Property or aUow lhe Propeny to Jctcriura�c,rea�onublc wcar:uid tcar rxccpted. LrnJer rnuy m�pect the Property if tAe
<br /> ':•. I ' Praperty is vacant nr abandoned��r�he loun i+in det'•rult. Lrndcr muy takc rea.onablc arii��n to protect anJ preserve such " .�•
<br /> • '•�.•';. vacunt or ubando�t�.d Propeny. Bartower�hull ul.�i t+c in d�fauU if Borroxer.during the luan applicatiun pr�xesx.gvve
<br /> � •` ;�' t material!}• false or inaccurvte infumiutiun or +rrtcmenl. lu Lender l��r fail�d tu pru�•ide Lender with uny material �
<br /> � informaeion)in connection w•ilh Ih� loan cvidrn�eJ Hy thr Notr,including.hut n�N limued to.rrprc,rntation�ronceming
<br /> ,:�� BoROwer'.s occupancy of Ihr f'mprrt�•u.u prinripal rc.iJcnrr. If thi.Serun��• In.trumen�i. on a Ira.chulJ.Bormwer shall ,
<br /> � . , camply with the pn.virion�uf 1hc lea�c. If Burcawer aryuirc.fc�Iitl.tu Ihc F'rnpcny. �he lea.chuld:►tx1 iee tiUc sBall not t
<br /> • . • be merged unle+ti Lendcr agne.lo thc mergcr in��nting.
<br /> � 6. Cha�es to Borrower and Protrclion of Ixnder's RiRhts in the Properl}. Bum��.er�hall pay all covemmern�l •
<br /> �tt municipal charge..line�wK1 imporition.Ihal are nut includrd in F'araEraph :. Burrowe� ,hall pay �heu uhli�atian.un
<br /> ��, time directly to�he entil�• �vhirh i.uHCJ Ihe puymrnl. If failun a,pa> «�ll1IJ 8lI\'l`hCI� aifect Lendrr:intrrt.t m 1he �
<br /> Propeny,u}►nn Lender�Ryuc.t Burruwer�hull promptly t'umi+h tu Lrndrr rcrript.e�iJrnring Ihex paymrmti. .
<br /> � If Borrow•.;r fAils to make 1hc.c paymrnl� �x�hr p•rymcnt�Ryuirrd h► Para�ruph_, or faik to�xrliirm :my��tlxr
<br /> . �_ �.....1.....r........�..•..nr,im..l in t6i.G•.•uri�v In.�nun.•�u.ur thcr�i�a IcLal anxrcJins:tha�may�i�:nitiruntly af ti�t _
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<br /> Lender;nghb in the Pm}xrny �wrh:i��i pnxeeJing in hanF,rup�c��. lix cundrmn;ili�m oi t��rntime laH�or rcgulaliurnl.
<br /> ' � then Lender may do and p��•�vhat�ver iti necc�.an•to praiert thc�•uluc of dk Pru�xn� and LrnJer:ri�ht>in thc 1'mp�n}•.
<br /> including paYmenl of�uxe�.h;v:u'd in+urunce anJ�aher urm.mrntionrJ m ParuEruph�.
<br /> , Any;►mount�di�bunrd hy l.rnJer unJer�h�.I'�.�ru�:rupl�.h�ll t+urrme an aJJiu��nal drhl of Bi�na�►rr anJ Ix .ecured
<br /> . . by Ihiti Security Imtrument. '1'Ix.� amuunl,.h•rll lxar intrrt,t I�mm the dale u(di,hunemrnt.at thr N�itr ratr.anJ at the
<br /> option of Lrndcr..hall Fk�mm��fiatrly duc anJ pa}able.
<br /> 7. CondemnaUon. I he pnxced��it�:uty a��:�rJ ur�laim for J:anaEr..Jinct ur cumryuenliul.in c�mncction wi�h :m�
<br /> condemnation itt olhrr tul�in�nf:my parl at�Ihr f'n��xrt��,ur tar runv��unrr in plarr uf c��nJrmnuti,m.arc Ixrrb} u..i�!n�J
<br /> ;u�t.hall bc p�id lu L�nJcr tu thc exlent af Ihr full�m��unt al Ihi mJrhtrdn.,.thu�rcmam. unpaiJ w�der�hc Natr and Ur.
<br /> 5ixunty Imtrument. Lrndrr,hall:�ppl}•.urh pnxerd.�u�hr rcJurhun��f thr indrMeJnc.,undcr the Natr anJ�hi.ticrurny
<br /> � lu��rument. tirot lu any d�hnyucnt amuum• upphrd m thr orJcr pru�iJ�J �n Par.i�:raph ?. anJ thcn tu rr�r�>�,,.��� nY
<br /> principul. Any a�+Ucaliun uF thr pnxr�J� to thr prinripal �hall nut eatrnd ur ���t��nr the dur Jatr af �hr n►unthly
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