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<br /> =:�.s� � 92_10042� � __
<br /> —�` 1. Ryment of Pirincips�l�Irne�e�t And Lpt�Cha��e. Harruwer shull p•ry whcn duc�he principul of.anJ intcreat on.
<br /> _•�'='� Ihe deM evidenced by ihc Nwc and lu�e chur�cr dqp tulder�hc Note. --.--
<br /> ��,r."° 2, Monthly paya�ents o�T�xes.Inau�un�{;And p��r CbprRe�. Burrower ahull include in ench monthly puyment.
<br /> ;_�,�• ,,,�,.,r. togethe� with the prii�rcipul und interc�►t as xet fonh in the Nc�te and any lute churge�,un instullmcnt of uny(s►)iaKes and
<br /> ;_� �."- �- apecial assessmcnts levied or�o bc Ievied nguin�tha Propeny.lb)leucehold paymcnis ar graund rent�►on Ihe Property.wu1
<br /> (c)prcmiumw for inwr�nce�cyuired by Paragrup 4.
<br /> — Euh r►sartthly in�tallment fur i�ems (n), (�) and (cl shull eyual one-twelfth of the annual umouots,u� reaeonably
<br /> +�• �, , ewlimutcd by Lender, plus an wnuunt tiufficient to maimuin un udditionnl bulance of not mora thun one-sixth of the
<br /> •� - - espmated umounts. TFn full wmual umuuot fur cu�;h itcm+I�ull 6e accumulnted by Lender within u period ending one � _- -_
<br /> � . • � "`' month before an item would be�ome delinquent, Lencler�wl l huld�he umuunts collected in trust�o pay items(a),(b)wid
<br /> _°°=E,;`�.�ti;� .,.,n. (cl before�hcy bccomc delinyuent.
<br /> '�='��;,�-,� � If ut uny tim� thc taul of tha paymen�s hold by Lender far items(u).It+)und Ic),tog�:ther with thc falure monlhly
<br /> �,�- -��;_ � payments for.uch items puyabl� to Landcr prio� ro thc duc dute.of 4uch items, excecdti by more thun one-sixth�he _
<br /> ��•,�� estimated umount of pnyment�rer�uircd tu puy.RUCh items when due,und if paymentx on the Note ure current,then Lender
<br /> .YL'�ftF n,'I •�. . O :• "' -.
<br /> �_,;,�,.,�.`,q��� ahall either refund Ihe exce+.ti over one-yi�th c►f the eseimated paymeMs or credit the exces�over one-sixth of the estimnted
<br />- - a„�.:U;_�y-�,��,:x payments to aubscqucM payment::by BoRawe.r.ut the option of Bom►wer. If the wtul of the payments made by Borrower �sE,:
<br /> - --`— : for item la).(b),or(c)is msuffici�;nt to pay thu item when due,then Borrower siiull pay to Lender any umount necessary to
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<br /> �;;�;� � ��':.�� make up�he deficiency on or befa[e�hc dute the item becomex due. �=�_=
<br />�__�_��;,, :� As useJ in Ihir:Security I�inteument,"Secrctary"menns the Secreiary of Housing und Urban Development ar his or her �,_,
<br /> � �t,�.; ,,;�,rr::a�• desi ee. In any yeur in which th�Lender mqu a mon n e insu�rnce remium ta the Secreta ench manthl a ment n'���'�-
<br /> gn I�Y �S p �Y• Y P Y .��,��,..
<br /> _;:_,�.��, , ..,;,h,.;r�._, shall also include either. (i) on inxtallment of'the annuul mon�uge insurnnce premium to be puid by l.ender to the _�_
<br />- '" Secretary,or liil u monthly ch4rge instead of a mortgnge insurance premium if this Secucity Instrument is held by the ��ri
<br /> '"r-=�'�::`l:�a� '�'`'� Secretary. E�ch monthly instullm�:nt af the monguge insumnce premiun�shall be in un umount sufficient to uccumulute the _
<br /> "�tl�=�•�"��T� full annual mortgage insurance premium �vith Lender une mr�mh prior�o the dute the full annuul mortga�e insurnncc: __..
<br /> - � premium is due to the Secmtury:ar if this Security Instrumen�is held b�the Serretary.euch monthly churge shull be in un �'-�--
<br /> !�- r=,� ' amount equal to one-twelflh of�me-half perccn�of the outstunding prinr�pal bulan�:e due on thc Notc. ��
<br />"t�� �c. ' If Horrower tenders ta Lender the ful)pnyment of all tiumx secured by�his Security Imtrument, Borrower's uccount ��-
<br /> � shall bc: cnedi�ed wi�h the balunce re�ntuning fur ull instullment. for items lu),(h) und Ic) und uny mortgage insurwice _
<br /> °--�•.�' .' •' �' ' remium installmem thut Lender huv nol bucome oblignted to puy ro the Secretury,and Lender shall promplly refund any , ___
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<br /> - excess funds�o Borrower. Immedfurely prior to n foreclowre wle of the Property or iis ucyuisition by Lender,Borrower's �:'�
<br /> :�� � � 's account shall be ctedited with uny bal++nce remuining for ull inswllmeniti for items(u),lb)und(c). �.
<br /> „.�..: • 3. Appllcafion of PnymQnts. All payments unJer Porogrnphs I und 2 shall be appli�d by Lender as followr:: „_',_
<br /> ' � �J$�'E.to the murtgage insurance prcm�um to be paiJ by Lender to�he�cmtnry or ro�he monthly churge by 1he ��-
<br /> -`�- ''"; ° Secret insteud of the monthly m�rtgage insuance premium: �`
<br /> �};. :.';��� ; • �Q�,to uny taxes,speciul utisezsmentx,leuxehold puyments or ground rents,und fire,Oood und uthcr huznrd �"'�''
<br /> � '��� •• insumnce premiumn,a�required:
<br /> -�V+..-�__ '��:�::,_ --.�_-'- _.-. THI[tD.to mtercst due under�he Nate; -
<br /> `^�' ,{..' �w. �,to sunoRizaliqn of lhe�+rincipal of the Note: =
<br /> ''��`" �{,a late churgc+duc uodcr�hu Nuic. �
<br /> �:°�;: � �� 4. Fire,M'lood and Qther H�rd�nsurante. Borrowcr.hull insurr all improvcments on thc Property,whether now �__
<br /> '*F•� in existence ur subr,equenlly erectcKl. ugninst any hu�urcis,cuxuultic,,und contingencies,including fire,for which Lender ___
<br /> ; � � . o rcquires insuraixe. Thih insurunce tih:�ll be muimained in Ihe umuun�s und for Ihe period.that Lrnder reyuires. Borrower —
<br /> : ��<,.,° shall nitio insure ull improvements un tha Propeny,whether now in existem:�or subscyucndy emcted,againsl loss by tloads
<br /> ". . to the eatent myuirrJ by Ih�:S��:relury. All innuranre�hull Ix cairicd with cump:mies upprovcd hy Lender. Thr irmurance
<br /> . � policiex and uny renewulK :�hull Ix huld by Lcnder and tihull incluJe lo.s puyuble clauscs in fuvor of, und in a fortn
<br /> • • ' acceptable ti•,Lender. C�:...-=.
<br /> � In the event uf los�,t3nrmwer�hull�!ive Lcnder immediatr noticc by muil. I.ender muy muke pmof of Inss if not __ __
<br /> •� � mude prwnptly by Borrowue Euch inruruncc romp;►ny conc:emrJ i+hcrcby authorir.eJ and directed to malce pAymem for __
<br /> '.,�„� . such loss dinctly tu Lendcr, inslead ul lu Borrower and to LenJcr,joinUy. All ur any p•rn of'the in+urunce proceeds muy be __
<br /> • applied by Lender,ul its option,ciihur(u)ta�he reduction�it'�hc indebtednc..undcr the Nute anJ thi+Secunty Inxtrument. �;«,__.
<br /> ' -•`�;� ° ' first to an delin uent umuunts •r IiaJ in the order in 1'aru ra h 3. 81NI (NNII W rc s+ ment of rinci �I,or(b> to Ihe
<br /> , . Y y Pp R P P P Y, p P' E.!�-
<br /> rcswration or rcpmr�d'�h�•dumu�rd properly. Any•rpplicutic�n uf the proceeds to thc prinapul.hull nut extend or postpone �_=_.
<br />" ., �,,,,,_ ' the due dute of thr munthly puymcnt�which are rcicrted w in ParaFraph?,ur chunge the amoun�of�uch paymi:ntx. Any
<br /> . excess insurnnce pracceds over an am��unt reyuired lu puy t�ll outxtanding indeMedne,s under the Note unJ tbis Security �-�
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<br /> � '•'� ''' Insdument shall be puid ai the cntiiv legally entidrd theroto,
<br /> �A{''t�� - •`��•`;.;` In the even� uf fon:clo+ure ot`this 5rc��rity ln+lrument or othu trunst'cr��f tille tu the Properly thut �xtinsuishex the ��..s�::-
<br /> ° .,,'�.:: . indebtedne�s.nll right.title und in�cre�et of Borr��wer in;�nJ tu imurunce pnlicie.m f��rce+hall pas+w the purchuxec ° aa--
<br /> . . . '.``" 5. Uccupancy. Preservutiun. Maintenunce und Protection uP the Property: Borrower's I.oaa Applic�tion;
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<br /> � LeYS�eholds. Borcower�hull u�:cupy, c.taNlish,unJ u�e Ihe Pruperty Us Bormwer;principal residence within sixty day� ��=.'�-""-�
<br /> � :...;:, ' ��.___
<br /> � � .;.iti,, after theexecution uf thi�Scrurity Instrumenl unJ shull continue ti��xcupy Ihe Priipeny a, Borcuwer:prirx:ip•rl rcsidence =.;_,:_
<br /> •� ;��F, . t . For nt(east one yeur after the Jol�uf�xcupuncy,unletiti the S�rn:tury determineti this reyuirement will cause undue hunlship °
<br /> �..{ for Borrower, or unle.� extenuating circuni.tance, exi.t whirh arc txyonJ Burruwrr'. cuntrol. Borrower shull nWify '
<br /> • �� ' • . Lenden of any ex�ewating rireumatances. Burrowcr�hall not commit w:i.te ar Je.iruy.dumu�!c or ,ub�t�ntiully chunge
<br /> the Pmperty or ullow th�t E'rop�rty�o dctcriorate,rcu+unuhle wcur unJ tcar rxrrpted. Lender muy intipect the PropeAy i(Ihe "
<br /> Pro�xrty is vucunt ur ubandaned or thc loun i. in default. L�nder muy t•rl.c rc:uonaMe uc�ion to protect unJ pre�erve+uch i�
<br /> � vucant or ubundoncJ ('ro{x:rty, Nom�wcr tihall ul�o txn in ilctault if HorruNrr.during thr luan application pra:e�+.gave l�',
<br /> � mulerially fnl�c ur iniicruratc informcuion ur stutemeN. to Lender I��r G�iled to providc LcnJrr with uny in�len:.+1 ��
<br /> informa�wn)in runnec�iim wilh Ihe luan�viJcncrJ My the Notc, irnludin�:.hut nut limited hi,reprexrntutions concemin�! .
<br /> ' � Borrower�ixcupunc�of tbe Pn►peny us u prinripal rr�idenc�. If thi.Scruniy Im�rumem i.un u I�a,rholJ.Bom�wcr,hull y�
<br /> . comply with the pm�itiiun,ut�hr Icx.e. It Borrv�w�r arywrc�fee tillc ta thc 1'ruperty.thr Ira.cholJ and fce tiUe.hull n��t ,
<br /> be merged unle+�Lcnder agrer.�u�h�mcrgcr in wnling.
<br /> 6. ChAr�es tu Burrowcr s�nd Protection of Lender's Ri{�hty in the Pruperty. Rurr��wer.hall pay :dl�ovcmmcnwl
<br /> " •� . ��r municipul chartics.tinc� anJ impu+iti�m+�hu�urr nu� mrludrJ in Para�;ruph ?. Hurrow�r�hall pay thezc oNligatiun+��n
<br /> • � • ' time directly 10 thr entity whirh i+oweJ ihr paym�nt. II fuilurr io pay ���+uld :�Jvrr.ely affect Lrnder'� intrrt�t in th�
<br /> . ' : Property,upun LrnJur+rcyur,l H��rtuwer.hall pn►mplly tumi.h tn Lender rcceip�,rvidcncing the,e paym�mti.
<br /> � • If Borruwrr f•ril, tu mukc drc.c paymrnt>ur Ihr payrnrnls rcyuimJ hy �;�ru�!raph 2. or fail. to�xrlorm any �Nh�r :�
<br /> ` covenunls anJ u�r��m�nt+r�mtu�nrd in�hi,tirrurit�•In+trum�nt.ur�hrre i.a Icgul pnkreJing that may.i�niticuntly affeut
<br /> . . Lendrr:riehl.ti in thu 1'n�txnv I,uch a�:�pr�keedin� m hankrup�c�,f��r rundemna�iun or tu entirccr lua�ar rrgulatinn,l,
<br /> �
<br /> .. -- �hen Lrnder muy Jo unJ puy aha�c�•rr i.ncccvar� w pru�cct�hr�alur ot thr Ifiu�xny and t.cnd�ri ngnts m mc rn,�xny. •
<br /> incluJing puymcnt uf taxc�.haiard inwrancc:md uthcr�tcm�nunlu�nrJ m Ixar:��;r:iph?.
<br /> "" Any um��wu.Ji,bur.�d hy Lcndrr widrr th�,I';,r.igraph�hall Ikrumr JII :I�Illll1011al Jch�uf liurruwrr and tx .ecutrJ
<br /> By 1hi�Secunry Imtrument. 'I'hr,c arnuunt�,hall Ik�r imrrr�l Irum thr Jatr ut di.hur.ement.at thr Notc ratr.anJ al thr
<br /> • . uption uf Lcndcr,tih•rll Ix onnkiii:U�ly dur and payaMr.
<br /> 7. Condemn�lion. 'I'hr pr�w�cd+ul any:iwarJ ur rlu�m ti�r dama�;r..Jinc�ur cun,ryucnUul,in�onncctiun with an�.
<br /> conJe�nnuli��n nr uther takin�!ut� any pun ul di�{'ru�xny,ur ti►r cunvr�:incr in plarr ul rundemnaUun.aro henbv a�•igneJ
<br /> �nJ shull I.e paid to L�nd�r w th�•c��ent al�hr tidl amowu��I Ihr indrh�rdnc,.that nmain,unpuid wiJcr�hr Nute and ihi,
<br /> ti�wuri�y In,trwnrnt. l.rnJrr,h;�ll upply�uch pnkrcd.tu Ui�nduchun��(thc�nJrhlydnr.,undcr Ihr Nu1r and thi,S�cunt�.
<br /> Imtrument. finl tu an) d�lmqurnl amount. :ipph�J m th� urJcr pi�niJrJ in I'.►ra�:raph +. and th�n tu prcp:n•mcnt ul
<br /> ,. princip�l. Any applir�ii��n of thc (�nk��d� �u Ihc pnncipal �hall niH �xktttl �;r �x��lpun� Ihr du� Jal� ul thr monthly
<br /> �p��w•: .,i r��,,,��,i
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