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<br /> � � 92� i o0486
<br /> -��- - 1. Payment d Prindpd,latereW�nd I.pte Ch�e. &►mowet ahwll p�y when due the principd d.and interwt on. -
<br /> - — Ibe debt avl�encod by the Ndc and Irte chwrgor duo under�he Note. �n��
<br /> = 2. MontWy p�ymeats at'lluaa,la�unaco�nd Qtba�Cb��'�. Qnnower ah�ll inclwle in each mcx��hly p�Y
<br /> - toQethcr wi�h�he principd and intere:t as set forth in tha Noto�nd wny late char�ea.on inuwllment of�ny Ir)�sxe��nd
<br /> . to
<br /> � �. speciv assesstncnts kvied or to be loviod againct tho PmpeRy.(bl loasohaid p�ynxnw or�round ronu on Ihe Prapeny.and
<br /> (c)premiums for ineuranco required by Par��aph 4.
<br /> � Fach manthly installmcnt for item�(a1�lb)ond(c)shall cqual ono•twelfth of�ho aanwl wmwM�. w rc��bly
<br /> estimeted by Lender, plus en iunaunt �ufficient to m�intain on a�Witfanul b�lam:e of nat morc �han onc•sixth ot tho �
<br /> a- 1"r estimated amounts. The full ennual amaunt for cach item rhwll bc uccumulatsd by Lcnder wlthin a periuJ ending una
<br /> • t� month beforc an item would becomc dalinquent. Lender shull hald Iha em�unta callactod in trual to pRy iterru(Al.lb)�nd
<br /> _ •.� ° ' '.�`:r � (c)before they became delinquent.
<br /> ` � , . T� ,,,,;. If at any ume�he total of the pwymonts hold by Lender far itsms(a). lb) and (al.tagotha�w1�h the fulure manthly
<br /> 't 7-•..°',,?•- paymenta for such itemc paysble ta L.end�r p�ior to the dus datae of suah itamp, exceeda by matc than a�e-sixth the
<br /> °�''9�'�'�=..'':i'�, estlmated arnaunt of a ents P
<br /> ���� �`� p ym nequired to uy such itsmr when due,und ff aymanl�on�ho Nate are curtent,t)xn Len r
<br />._-� '"--:.. .. shall either rofund the excess over ane-s�x�of tha est imut e d paymente or c r a d i�t ha ex c e s s ov a r ane-sixth,af•Ihe estimated -_
<br />_--- , •.,.•,s� ; p�ymenta to wbse�uent ps�ymenls by Batrower,at tha optian of Boirowcr. lf Unr total of the payment�madc by Borrower
<br /> —�' -%�''��`', ;,,,:;:•':;,:�:: for item(a).(b),or(c)is insuf�cient ta pay the item whan dua.�han 8orrower shnil pay�o Lrnder any amount ne�xssary w
<br /> " h� '�� ''`°�'''``�'' make�av the deficiency on or befor�th�data the itcm becames due.
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<br /> .���. ,+'k�"�; ' ��,,.�... As w�ed ln this Security Instniment,"Secretary"means tha Sec�+atarY of Housing and Urban Development or his or her ----•
<br />__�,;'r �''"Rf'�"�``�`1:�:.. designee. ln any year in whlch the Lende�must pay a man$age msumncc prcmium to�he Secretazy.each mo�thlY payment �a-
<br /> '�.�ic,��:.�._.,n•..
<br />-_�°:°:��r �;,��w;,;,,;..�; shall also includc.cithcr. (i) an in�tallment of the annual mongega ins�nce premium to be paid by Lender to the �
<br /> .----- ,w, ;; , Sxrctary,ar(ii) a montblp chazg@ inataad of a mortgage insumnco pt�mium,if dtis Security Instrument �s held by the _
<br /> --- 3r-�.�y_•',°: < Seerctary. Each manhiy installmont of the maKgage insuatnce premium sht+ll�be in an nmount suftZcient to ciccumulate the _
<br />-�� �"': full annwil mortgage lnsurance premium with Lend��ona manth priar to tha dute Ihe full annual mortgage insurance �","
<br />;:�3's.
<br /> .��.: . +�� `..^ `�',: ;^ premium is due to the Secretary;or if this Securiry insuumsnt is hald b�the Secretary,each monthly charge ehall be in an �tl_
<br />-•;�• ,,,;, , � amount equal to one-tweifth of one-h�lf percent of th�ou�standing prino�pal balance due on the Note. :.�•-
<br /> �'�:}�• ����� °- ,.yx, � If Borrower�rn�ers to Lender the full pAyment of all sums secuRSd by this Security Instrumem, Borrowerh uccount �--
<br /> t'.:• --
<br /> ;;�,, ,�- shall be credited with the balance remaining f�x ail installmemA for it�ms(a). (b) And (c)and any matgage insurance --
<br />-�"'• . �,.; °" pr+emium instellment t�at l.ender has not become ab9igated to pay ta�ihe Secretary,and L.ender shall promptly refund any
<br />-- � )• ,;Er ,. excess fands to Bomower. Immediatel r �o�to a foteclosura sala af ihe Praperty or its acquisition by l.ender, Bortower's �_S�`
<br /> .yt=: .; r.�$'�r.i•.. :�.$e:��� -
<br /> . . i�;�t �� , rccaunt sha11 be c�dited with any bAlai ce remuinin�for all insiallment�for items(a).(b)and(c). ``'u
<br /> '�.,� ': � : i�;��'" 3_Ap�ltcatfon ot Ppymeatt,. Ail paymenta under Parngraphs I and 2 shall be applied by l.ender as fol lows:
<br /> __�.:_�. ,• .,+.�'�k� r, `.
<br />���•�K �,��,'.d•�, !.�l, „ ����.to the mortgage insurance prem�um to be paid by Lender�o U�e Secrelsuy or to�he monthly charge by the t _
<br /> ;�� t„ Secre instead of the manthty mortgage insurance premium: �--
<br /> 't:. ,,'�pz'F��.. �,to pny 2axes.special asseasmenta,lea9ehold paymen�s or ground rents.and fire.flood and olher hazatd �•,�•
<br /> � ;{<�, • S•9
<br /> • .:•a�.��.,t ins�urnace pr+emiuma as requued: �in¢,,;�
<br /> �«-! =p,� � S{�1�r '� �.iu mlcrC�t due uudri tiiz f+�ute: '. -
<br /> .� , t� ��� eQq�,to emonization of the princip�l of thc Note:
<br /> t' •.:.,�.;° �
<br />_ .�.. � ";;,�;r. "''. pJm j,m lace chwgesz due under the Nate. . -
<br />_,,.��,; �}•+'"' �� ` .. 4. Fire,Flood an�Other Nawrd�Insur�nce. Borrower shall insure all improvemen4ti on tha Pr+openy,whether now �"_
<br /> � � ,�' .. in existence or subseyuently erected,against ony htezzarda,casuaUies,and coMingencies, including fire,for which Lender �.,
<br /> ar
<br /> . � � requires insurence. This insuranae shRll�be maintained in�the amaunts and forthe periods that Lcnder requires. Bottower ��
<br /> � ..�'��,_t, • shall silso insure all improvements on tttt Property.whether naw�in existence or subseyuently erected,ogainst bss by floods
<br /> " to the extent requiRd by the Secro�ary. All in+urunce shall he curied with compnnies approved by l.ender. The insurance ��._
<br />-- ' ` '�� ' „ policies and any renewals shall�be held by Lender and shall include loss payuble clauses in fuvor oF, and in a form ,
<br /> .. . . .� acceptable to.Lender. � -
<br /> - ., � In Ihe evrnt of loss, Burruwer shaU give Lendcr immeJiute nWice by muil. Lender muy muke proof of loss if not �_.�
<br /> . � ,;��,{ ;" ,; ' mnde promptly by Borrower. Hach,insumnce company�oncemed i+hemby uu�horirxd und directed to mnke payment for �� •
<br /> <<•. „ such loss direcdy to Lender,inet�ad oP to Bi�rtnwer and to Lender oinU All or iu► urt of the in+urunce roeeedx ma be H -
<br /> J Y• Y p p . y ��
<br /> � applied by Lender,et its option,eitFar lul ta the reduction of the indebtednesti under the Nae c+nd thin Secunty Instrument. `:•�•:
<br /> .r4Rr� � first to any delinyuent amoun�s upplied in �he orJcr in Pnrugmph 3, +u�d then �u prepuyment of principul,or(b) to the _
<br /> restorution ar repair�f the damaged propeny. Any applicution of thc proceeds to the pnncipul shull not catend or postpone �----
<br />: � . �he due dute of the mamthly paymen�s which are referred to in H►ragruph 2,or chunge thc umuunt of such puyments. Any �:;��-
<br /> ' a" °" • excess insuronce praceeds over nn umount reyuired to puy all out,tanding mdebtednezs under the Note and Ihis 3ecuriry 'z�•=
<br />-' r -°• . Instrument shall be paid to the entity legally enutled thereto.
<br /> � �� �- � In the event of foreclosure of this Security lnslrument or aher I�vntifer of tide to the Properly thut exlinguixhes the
<br /> .• � .. . indebtedne�t.all right,title and interest of Bortower in and ta insurunce policies in furte.hull pu�s to�he purchuser.
<br /> - - 3. Occupancv. Preservation. Mainten�nce and Protectian oP the Property; Borrower's Loan Appllcation;
<br /> : ' ;�. , ^ I.easeholds. Bc>rrower shall occupy, estnblish, and u.e thr Propc:ny a.Bortower+ principul residence wi�hin sixry duys _
<br /> • � ° afler the execution of this Securiry Instrumen�:uid vhul)continue to arupy the Pmperty u.Borrowerk principal rc��dence '.',�
<br /> � ' for at least one year after the date of occupuncy,unless the Secretary determmes this reyuintment will cuuse undue htudship �.
<br /> �• for Borrower,or unless extenuuting rircumstances exist which ure txyond Burtower: contrul. Borrower shull notify '
<br /> � Lenders of uny extenuntin�circumstunres. Barrower xhull not rommit watite�r dc�truy,dumuge or subxt�ntiAlly chunge �
<br /> the Property or allow the Propeny to deteriorale,reoKOnablc wear��nd t�:u rxcepte�. Lendrr muy mspect ihe Property if the
<br /> rt is vacant cx abandoned or the lonn i+in deti•rult. Lender rnay take reuxnnablc uction lo pruterl and pt'enerve�►uch �r
<br /> . vPuc�t or ubandoned Propeny. Bonower .hull also I�e in drtault if Borroa•cr, durinF thr loun appliratian pracess,guve '��,:
<br /> � ' � . materinlly fulse cx inuccumte informution or ytatememti tu l.rnder (or failed t�i pmvidr Lender with any mutenal
<br /> ' information)in connection with the loun rvidenr�d Ny�ix� Nu�e, includin�,hut nM limited to.repnn+enlution.ti rnnceming
<br /> ' Borrower�occupwicy of the PropeAy a�a prinripal r��iJrnrc. If thi�Security In+tn�mrnl i+�►n a leu+eh��ld, Bormwer shull
<br /> comply with the provuions of the le�.r. If BorroH•rr uryuin�Icc tidc tn thr Pru�xrty,thc Ir��eholJ und fer�ide shull not k,
<br /> �. � be merged unless Lender ugn�ex to the mrrgrr in x nnn�. �{
<br /> , 6. Clwrges lo BorroW�e�and Protertion uf Lender's Riphty in the Propchy. Hurnn�cr.hull puJ all guvrn�mentu) i
<br /> ' , or municipal churges, fine.anJ impo+ition,thut ur� n��t included in Purugraph�. Bum►wer�hull pay thex obli�!utiun�:un ,
<br /> time din�tly W thc entiry which i,uweJ the paymrnt. It'failure t�� puy ��uu1J advencly aff�rl l.cndcr: intrR�t in the `
<br /> R'operty,upon l.en�ter+rcyue�t Burru��rr�hull promptly furn�.h tu Lcndcr rcrript+r�•idrncing Ilu.r pa�mrnh. !
<br /> IP Borrower fail�lo muke �he+e pa�•mrnt�or thc paymen�� nyuired hy P�ara�.raph �.ur Fail.�u pertiHrn an�•uther
<br /> � . covenants:mJ agreemrnt.ront�inrJ in ihi+S�urity In�cru�nrnt.ur thrrr i.a Irg�l pnxraJin�Ihet muv+igniti�antly aff��t �
<br /> - .� . _a:....:.. M....L...w...- 6... n.L.mno�u�o.�r tn .•ntiircr �:�U♦ Ut RLIII:IIIOfI\I.
<br /> _= -- Vc�tticr a t igi�ia iti inc ��wc�iy i.u�u.i-,.i F.i:�:.w...t,............ �,...J..... :S`..__....._..... -- - - _
<br /> then Lender may du:u�d pay whate�•rr i.nere+�ury�u prut��t the�alur��f�hc Ru�xrty unJ l.�nd�r�right� �n thr Pn►peny. ,
<br /> including p•rymrnt of tixc.,h�iard in,urancc:md athcr�tem.mcnti��ix�!in N.�ra�raph 2.
<br /> Any vmuunts di�twn�rl by�Lendcr under thi�1'�.�ragraph+hall t+erumc an add�nunal JeM u(H��rr��a.r and t+c�.cunJ ;_
<br /> ' - • ' by this Sea:urity Inatrument. The�e:unounn�h:dl t+rar inten.�Frum Ihr Jutr af Ji�hunrment.r�thc N��tr r•rtc.anJ at �hr �
<br /> ' optiun of Lcnder.�hall be immeJi�tely Jur and pa�:�hlc.
<br /> • ' 7. Condemnation. The pnxec.l�uf:my uH�ard ur cla�m Far Janw�;e+.Jirca ar con.ryurnual,m cunn�c�iun w ith uny �
<br /> rundemnation or other crking of:m� p:ut uf thc Proprrty.ar ti+r camr�anrr in plarr ut�•��nJrmnahun.:ur her�hy u�•iEn�d
<br /> nnJ�hall be paid to Leixler to thc extrm��t'thc full:uuuunt��f Ihc inJrhtrJnr..that rcmum.unpaid un.ter thr�Iutr unJ th�.
<br /> � Securiry Instrumrnt. Leixirr+hull�ppl}••uch pnxerd.tu thr RJuruun��f thr indehtrJne+�unalcr Ihr N���c anJ thi�S�rurit�
<br /> , Instrument, 6nt to uny delinyuent ;unwnt+ •rpplicd in thr unler pru�iJ�d m Rirugraph ;. ;md thrn i�� �xrp�ymcnt of'
<br /> princip:d. My applica�ion of the pnxY�d.t�, the prinripal .hall nut rxtrnJ ur Fx�.tpunr thr due Jcur ul the munth{� `
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