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<br /> ����11 1, Payment ot Princlpa��Interest nnd I.Ata Chpr�e. ll�isrower Mhall �y when Jue thr principul of,and imcrest un,
<br /> lix debl evide�ced by Ihe Nae und late chuBes due unde��tht!���te.
<br /> � 2. Montbly p�yment�or'Ibxes.lnw�aee ood U1bAr l:hwry�es. Bc�rrow�r shnll in�:lude in euch munthly Qayment,
<br /> '�. � .
<br /> �„ � �.* ":��, together wlth Ihe principal and int�cre+t os xet forlh in tho Nntv und un Iute chArge�.an iastallment of any(u)tuzes an
<br /> ��
<br /> .;,,,, special usscssments Icvied or to be levied�►gain�t Iho Properiy.lbl Icuse old paymemy a�rouml reMH on the PropeAy.und
<br /> � � (c)premiums for inqurance required by ParuRr+►Ph 4. �_
<br /> ����!"� ' Facn manthly installment far items lul,lbl wnd(cl xh�fl equal one-�welfth af the unnuul amounts.a� reaconubly
<br /> � ��ri �=A•'= etitimnted by Lender, plw+ un amount hufticient �o muintuin.:�n.uddi�ionUl buluike nf n�N mure thun one-xiath of tt�e
<br /> � ,�; rstimaled amounts. The full unnual umount for each i�am�hali�ix urcumuluted hy Lender within a (+eriod enJing one �__ -, .--
<br /> -�--��~,.;, a month beforc an item would bec�me delinquent. l.ender xhAlhhald thr umc�untx collertrd in iruxt tu puy itemx lal.lb)w�d --
<br /> .ss:,
<br /> '�� ,i+:�: .�:. Ic1 bCfore they 6ecome delinquent. �
<br /> ' ==--v;sn If nt uny pme the tot�l of thc puyments held by l.endrn'far itemti lul.lbl wKi lcl,wge�hr:r with the fulurr mnnthly ��
<br /> -i°��* �� paymeuwti for such itcros payable to Lender prior ta tt►e dua dattr� of such items, excccdx by more thun one-sixth the �
<br /> :��' �', •.1�..L; � esumated amount of puyments required ta pAy such items N'hc�.du�+.and if paymentti on ihe Note ure current,then l.�:ndcr ����i
<br /> shall either refund the eacess aver one•siath oi thc estimutad pa)otlttnts or credu the exces.over ane•yixth uf ch�estfmuted ��,.,
<br /> -�` '%�!`' pAymentx ta subscyuent puyments by BaRUwcr,pt Ihc aptian.of.Hnrmwer. I(the�otul of thc paymen�s mude by Borrower �_
<br /> - ����,,�,,.'� for�tem lo).(b),or(c)is�nsuf�cient ta pay�he it�m whGn.dur,th�n,Barmwer shull pay to l.ender any umount necexs:uy ro
<br /> ---�°�o,;.,.• .,. makc up Ihe deficiency on or befarc tht date thc�teR►beoome+s due.
<br /> -- ,w Aa used in this Security Instn�ment,"S�x:r�tcuy"mcans the Se�cratArY of Noucing und Urhan Development or his or her ____
<br /> -_ �' ��"^ " desi ee. In un enr in which the Lcnder must puy a martgsg�insuntncc premium Io tho Secretury,each manthly pnyment _
<br /> . `.:::�.,,..�.. .. � Y Y
<br /> __�,'��,����: shall also include either. U) an instullment of �hr unnuat�mortgnge insurance premium to be puid by Lender to the �_
<br /> Secretay,or lii) a monthly charge instead of a margago imurnnce premium if this Security Instroment��held by tlie ___
<br /> �'��y �` Secretnry. Fsic6 monthly instullment of ths martgage insumnce premium shAll be in nn umount sufCcient to uccumulnte the ,.,_
<br /> -� =*�"'�'' '�° full annuel mongage insurance pmmium wlth Lcnder one momh prior tc.�he dute the full annual mangaRe inaur,u�ce i�°•=_
<br /> =:__�,>"'.4��� ��!� prem um is due to the 5ecntary:or if this Securit lnsttumrn�is held b the Secretary,each monthly churge�holl be in un `
<br /> y y �fi-::=
<br />-----� `"'�' amount ual to ane•tweffth ot'one-hs�lf percent af tht�ou��tunding princ�pul bolnnce due an the Nate. � _
<br /> •%�;� °��+� '-,� � If Borrow�er tenden to l.ende�the full payment af a1l�sums se�urcd by thiti Securiry Ins[rument,Bnrrower'�uccaunt �_Y,.M:
<br /> =:��+-�;�, , • shall be credited with U�e balance rcmuining fc►r u l l i n sc+dUnents far items la), lb) und (c)and any mongage insurance
<br /> ,,����7;� . premium inatullment that Lender hus not became+ob�iBataJ to puy to the Secretory.and Lender shal l promptly refund uny �4��=
<br /> �'�• �.'•.,�>.';,,r",y„�:'' . eacess funds ta Borrouer. Immediutoly priar ta a forackuure sule of the Propeny or i�s acquisition by Lender,Bortowerk ����o
<br /> ,-�'�"j�"r.;;�.���:. account shall br credited with any bulsu►ce resmaining far all instnllments far �tema 1a1.(bl und lc). ---_
<br /> '" CS
<br /> ��" + ��'��" 3. A liration of Ps�yments. All puyments under Psrugmphs 1 and 2 shall he applicd by Lender as follows: �`�
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<br /> ;: .:s �to the mongago insumnce promtum ta be�+�id by Lender ro the Secretary or to 1he monthly chruge by�he ��' �
<br /> q,.y , r,�tir" �,,:;, . Secre • msteud of tho manthly mortga�e insurnnce p�mwm: �-""�
<br /> �",:.i:,.'' ,,,,5}��'�-,}. . .° �;��to uny taxes,special assessntenta luysxbold puyments or ground renu;.und fire,flood and other hward �—
<br /> .;t,,;�f -��;:�'.i:r�.?+�,. insurance premiums.as uired: �
<br />_';,:..,,, ' . �'.^,t8 ifltti€st d!��e!t1l4�1�cNe: _.�__
<br /> �•,...l:•: ' ;4 .. �,to amortizatian of the p�incipal of the Nate: _-
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<br /> p�,to late chuges due undcr the Note.
<br /> ` '.,tii��,- � q, Fire�F7ood and Other H�zord Insur�nce. Burrower,hall insure ull improvemen�s on the PropenY.wheihcr now
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<br /> �..,,�.,� , in eafstence or subsequently erectod,ugains[any haz;�rds,cwual�ies,und contingencies, including fire, for which Lender -4-
<br /> : . ;�',��,' ., ° requircs insurance. 71�is insurance shall 1►t mxinlained in thr umoum+�uK1 for the perials that Lender requir+es. Borrower
<br /> �.• � shall also inaure all impm��ementa an the I'roperty.whether now in exiscence or wubseyuently erected,aguins[los�by floads i
<br /> �'�` '� v-"�� -- � to the extent requited by tht 5ecrc+ary. All lmun�ncc,hall br cnrried wi�h cump+u�iex approved by Lender. The insurnnce �
<br /> . � po��cies and any renewals shnll tx held by Lender ond shull inelude los.r•puyoble clauses in fAVOr of, nnd in a form -�=�
<br />,':',' ' ' - .. acceptable to.Lender. �- "-_
<br /> • • • �� � In the event of lass.�ormwer�hall gi�w C.ender immediutc ncxice by muil. Lender muy muke proof of losx if not ��-,_^
<br /> ' ., �� made promptly by Bormvrer. Each inxuruncu�vmp:u�y c�nremed is hereby authorized nnd directed to make payment for _._.
<br /> �. � •' such loss directly to l.ender,instead af tci Barm��'er und to Lender joinUy. All��r uny pun of the inxurunce praeeeds may be �,,_�_
<br /> ;`'.�. applied by Lender,at i�s op�ian,eith�rr(a),t�tht reductian of Ihe indebteJne.+under the Note und this Secunty lnstn�ment. ��
<br />�,,;;:;. . � . , . first to any delinquent umounts uppliN•in�the order in Purugruph 3. nnd then to prepuyment of principul. or lbl to �he f.^_-
<br /> ��� � . .- restaration or repuir of ih3 dunag�^�1 propert)'. Any applirutiim of thc pra�cds to 1hc prinripul�hall na extend or postpone �;.;;�__
<br /> � the due date af the monthl)�p�>'mettu'whKh ar�n�turred to in P�aragraph_ or chunge the amount of cuch puyments. Any �..:.,:.
<br />=1 e •� " excess insurance proc�wds oves un amoum�Wu��c�1 ��'psy�II out,tundmF indebtedness under the Nute nnd thi�Securily
<br />•"�' ' 't�';• Instrument shall bepxidtothacntity�lc�wll��entitlai th�reto. ,
<br /> ��:_
<br /> � �- ' In U�e evcnt of forecbxure of thi�Secunty Inrtrument or uther truntifer of titlr to the{'ropeny thut extinguishrs the ` _-
<br /> !'�`�� '•'•:' indebtedness,nU right,title and intra�c�►oi Burrower in:md t�i in+urunre pul icie,in fime xhull pu,ti tu the purchu.cr. �,_,__
<br /> ��::;:� � . 5. Occupencv,Prcwervation. tilntntenunce And Protection of the Property; Borrower's I.oan Application: E�.-
<br /> �,,,tr � L�seholda Borrower shall�a:cupy,estublish, und usr the F'roperty us Borruwer: principal rc+idenre within sixly days E.,.---_,
<br /> " �':;�„' ' after the execution of this Se�:urity Inxtrumem unJ shall conunur to�xcupy thr Propeny ati Bcirn►wer.l principal res�dence .�--_
<br /> "'����• � for at Ieast one year after th�t date of'occup:uuy.unless the Secretury de�ertnine�thia reyuiremrni will causr undue hurdship ����
<br /> �. . ' . ' for Borrower, or urtless extenuating circurti,tunce. exi.t which an Ixy��nJ B��rtuwcr� c�mtrol. Bom�w•er .hall notify
<br /> ` ";.c�:,��� Lenders of any extenuating circumstance+. Borrowcr tihull not commit wa��e or de��roy,dumuge or.ub��unlially change
<br /> '�`, � � '':;.;�r:.` the Property or ullow�he Prop�:rty to deterioratr,reuxunable weur and trar exccpted. Lendrr may mxpert Ihe Propeny if ihc:
<br /> ,,,ti`.� property is vucunt or abandoncd or the loan is in defuult. Lcndcr may iakc rcax��n:+M�a�tiun to protert:u�d prescrve�u¢h
<br /> ,.;;; vacant or ubandoned Propeny. Hormwer.hull ul�o Ix in dct'ault il't3orrowcr, durinF Ih�loun uppliculion {xoce+ti,guve
<br /> ' •` � materi�lly falsc or inaccurate informuiion i�r srrtement. to Lrndrr lor lailed to pn���ide LrnJer with •rny mu�enul
<br /> '" ' infortnu�ion►in connec�ion wi�h�he loan rvidrnced by�he Natc, inrluJin�;,hut nrn limited to,representations cone�min� , ,,
<br /> � 8orrowerk occup;fncy of the Pr��perty us a prin�iNal res�drnrc. If thi�Scruriiy Invtrumcnt i.on a Icu+rhuld.Borruwer shall �' '�
<br />- cumply with the provixions of the lease. If Borrowcr ucyuin, Icc tiUe w dx Pra�xrly.�he Ieasehold und 1'cc tille shull nol jy
<br /> be merged unle�ti Lender ugnxs tu Ihe merger in writin�• t
<br /> •�; 6. Charges to 8urwwer and PrW�tion oP Lender's I2iQhtr in the Propert��. B�irtowcr.hull pay ull povemment�il .
<br /> �• or municipul chargex,fine.and imp��ritions Ih�t arr nrn inrludrd in Paragruph 3. R��mia•cr tihull pay these obliFation,on .
<br /> ' •� � time directly to Ihe entity which i. owed the paymcnt. li failurc �i� p�y would udvcnrly�ffcct Lendcr; intem+t in �hr �,{��.
<br /> Propeny,upon Lender's reyues�Borrower xhall promptly furni.h tu Lendcr rcrript.r.•idencmg the,e p•ryments.
<br /> � If Borrowcr fails to mukc these puyment�or thr papmrnh reyuirccl hy Para�raph ?.��r t'ail+w perfom� um• ��ther C
<br /> covenants unJ•rgreements conPrined in th��Srrurity Im�rument,ur thrrc i.a legal prcxeedmR that may.ignitic:►ntly aff'ert i
<br /> ..._ ._�__�__�... :...�.a D�...w.�v�.��rM:��a nr�xceJine in h;uthrupt�), ti�r cundemn.�tmn ur t���nforce law+or mgulatiuns 1. i,;
<br />�. - i.�uuc�,..g��.� ...........r-••� ���---� .
<br /> _. �hen Lender muy di�and p�y whate.•cr i�necr,.ary ti►pratcri dir�alur ul'the Prapen)�anJ Lender��n�nt+in[ne rn��x nv. .
<br /> including p:�yment of luxes,haiurJ in+urunre and�nher itrm�nuntiunrd in Par�Eraph�. .
<br /> ' Any :unounu Jixbuned by LenJcr under thi. Puru�:r•rph .hall Fkrumc an additi�mal Jebt ul Burcoucr and lx�rruRd
<br /> • by Ihis 5ecurity InstrumenL 'T'hc�c amount+.hall Ixi�r in�rr�.t In�m ttx ci•rk ��f Ji.hunrnknt,at the Notc ratr. :uid at the
<br /> • option of LenJrr.+hull be immeJiatrlJ duc and payahle.
<br /> 7. Cundemnolion. The pnxecd�i�t'any uaurJ or claun for J•rmagc..dircct or cun.eyurntiul.in connec�ion u•ith an�.
<br /> condemnation or other tuking oi':my pan of thr Pru�xn�•.ur lor rumrvan�c in plarc of runJrmnatii,n.arc hcrrh��a�,igncd
<br /> und shall be paiJ w Lcnder�o�he extcm��f'the full amaunt ot'Ihr indchlcJncti�fhat nmuins unpaid undrr Ihr Nute and thi.
<br /> . Security In+lrument. Lcnder tihall a�►ly wch pah•�ed,lu Ihc rcductiun uf the indebt�dix�,unJer thc Nu�e anJ thi.5rrunty
<br /> Instrumcnt, tir�� ni un)' Jelinyuent amount+ applird in Ihc urJrr pru�i�lcJ in Paragraph �, and �hrn 1�� prcpaymrm��f
<br /> � .
<br /> principul. Any applwution uf the pnkeeds tu�hr pnncipal �h:dl nut r�trnd or Exi.t�me the duc dat� ut the monthly
<br /> ip,W:�.�a�y�¢ru �
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