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<br /> �004�5 LOAW NO. i s a�t t �t S� �
<br /> J6- �=
<br /> � t.F�ymNS3 ot Rrtnr.lpal,lnt�rqt�rxi L�t�Clwrpe. 8orrauor aF�aJl pay wtx�r�due the prtnc(pal d,and intarest on, �
<br /> � tlw dobt evklenced by the Note and l�te charyes due under the Note. -
<br /> � 3.luo�tihty p�yn»ttb o!T�xt�.Ittsu�'i�nci,�nd Olhrr Chsr�l�. eorrouver srwJl Includa In each monthly �
<br /> ; paymant,tuqetttier wah the aixllnterest aa sot fath Ir�tha Noto and any luto charges,a sum 1or(a)taxea and �
<br /> ue
<br /> e�c1e�wssosw��wrd�14vi�ti oe to tevl.�a�alr�.tPw F'ro�'.(�)leasehdd i�aYme+its or 4rcwnd re�+ita on tFw �
<br /> j P�oparty snd(�)premlums for Msivancs raGulrad w�der Paraflraph 4. in any year 1�i wttik,h tt►e Le�x�ar n�usi pay a =
<br /> � mart�a�a Inwranc0 promlum to the Secretdtry of Houslttq arxi Urban Davaopment("Sec�etery"),or In sny yaar(n whtCh
<br /> � suchpramlum would have b�en raqulrad N L.�ndar siill hdd the Security Instrument,each mo�tNy paymer►t shal�41so —
<br /> inelude ekher: (i)e sum tor the annual matgape InsurenceprerNum to t�paki by Lender to the Sec�etary,or(u)a
<br /> mor►tNy charga Instead of a moitpaQe Insuranca pramlum M thta Security Instrume�t Is he�d by the Secratary.ln e �
<br /> � reasor►ab�e am�tu►t to be detormi+wci by the Sccretary. EYCept for the montNy eharqe by the 8ecr.L�ry,thesa�ams
<br /> ? ara calleti'Escraw ltema'and the sums pald to Loruter are calted"�scraw Funds.' �
<br /> 'f Lender may,ai any ttme,cdtect and hoid amounts f�Escraw Item�In an a�Qroyate amount not t�exceed the
<br /> maxknum artux�nt that may be requireri for Borrawer�s es�row accoun�under the Rea1 Estate Senlament Procedu�as
<br />. J 14Ct Ot 1971,12 U.S.C.$26Q16f S@q.And Imp16PYlArlltil�ragUiBtiailS�2�t'.FR PaR 3r' �AS thtay rilay[388rn8it�ad ff0.'S't ��
<br /> I
<br /> � } tima ta time('RESPAry,except that the cushbn or resenre permfttad by RESPA for unanticipated distwrsements or
<br /> � disbursemeMs before the�rower's paymeNS are avaiiabie tn the account may not be based on amounis due toc the �
<br /> mortgaye iruurance premlutn.
<br /> .; If thA ama�nts he8d bv Lender for Escrow Items exceeci the amounts pem'►Itted to be held by RESPA,Ler�der shall
<br /> ... � deal w�h the excess funcfs r�.5 requued bp RESPA. !f�te 3mou�xs ot funds heid�y Lerxier at a��y ti���a��r�su:f'�:� r
<br /> J to pay the Es�rc�w Items�^���i;�e,latuic��ray:ua.�tl�na Earr�r�1d c�:'.�,��'�ta rr-J►s��t�:3�utrt�;tiQ�r
<br /> :�+ defiC{6nCy 3S�nr�h�fJx�+'e�R,� �,
<br />:-'.`''`� The ESiX�'�++��1=,.J'�a 31�:{��8d^w^3d�:t'ciNk'ii SC�:'Iti�iC�..'�rZ' sUfrb SC-t^tiR9Cf[7{Yha Ss'3�.^ulitv�:t►StrUmetlt. If BAROwBt �
<br /> � tenders to le��.uc tPre iult paimtient of a!!such sums,�ower's a�couM shafl be credkted witti ihe balance re+nalning
<br /> � + for atl Irutaitm��ems(s),(b).and(c)and any mortgage insurance prem{um In�tallment that I.er�der has not become �
<br /> obtl�ated to pay to the Secretary,and Lender shall promptly refund any excess funds to 8orrower. Immediaieiy prior to
<br /> a toredasure sala of the Prope�ty or its a ulsitbn by Lender.Borrower's accotuu sl�!be credit�ed wUh any ba4ance
<br /> d
<br /> rernatNnp for all instaliments for�ems(a)�b),and c). --
<br /> 3.AppllCatbn of PayrtNMS. All payments Para�raphs t and 2 shall be applied by Ler�det as fdlows: -
<br /> � . . �I,to the maRga�fnsuronce ptemium to be patd by l.ende�to tha Sacretary or to tha mor�tNy chit�e by th� C�
<br /> � ; SecretuY instead d t�e moMhly mortpa�ya tntunrx�prwnlum; �--
<br /> �g�,Qy�. ta any tax�.�Peci�!a�sun�s,l�as�ttiold pay�t►ents or�round rentt,And tiro,Aood and dher Na�uird _
<br /> F� IneutenCi ptYmltlm0.ai roqt�id; -
<br /> � �,to Irx�rsa du�wxiar ths Nat�:
<br /> ,to anwrtizatbn a the principal d th�Nda: `
<br /> �, p��to tat�cltisrpes dua under th�Note. -
<br /> �.Ftn,FioOd and Otf1�r Hus�Insur�nCO. Botrower tt►W Insure a!1 ImprovemeMs on the Pr�o�e�ty' for whlch
<br />,. now(n�ietonGe or wt�sequentfy erectad,a�trut any h�zards,casuNties.arxl cootirper�ctes�incfud tlr►p ire. _
<br /> � Lender rogWtea lnsurance.Thb insurance sFiell be malntained In the artxx�nts and tot the'ei'iode that L�ncier requira.
<br /> ; BoROwer shaU a18o Insura all Imptovements on the Property,whather now In existence or sub�eque�tfy erected, _
<br /> � aQaLtst losa by floodn tc�tho extent required by tho Secr'etary.All Insurance shail be carried w�h companles apptonred =
<br /> � by Lender.Tttie Insurence Etdicles and arsy renewala shall be heW by Lender and shaU tndude loss payable ciauses tn --
<br /> tavor of,and in a form acceptabte to,Lender.
<br /> � In titie ev6M of loss,Borrower st�all Qhre I.e�der Immedlate notice by maH.Lerxier may make proof d losa ff ndt
<br /> made ptomptty by Bo�rawor.Each Insuranca campanY concemed Is hereby authorixed and directed to make paymAnt
<br /> ` for such losa dkediy to Lender.Instead of to Barrcwer and to Lender�dntly.All cs any part of tha insur�3nae proceeda
<br />'� mav be andied bv Lender.at its oDtion,eUher(a)tc the reduction ol the Indabtedness wxier the Note and thl�SecurNyl ¢
<br />'� IttsSrtttrteiif�fi�st to 2.ny de�dnqlaent emotx�ts apAlied kt the order In Faragrap113.tutt!ti�en to prepayrnertit ar RrirsGqxd.a
<br /> -�.. M ication of the proceeds to the shail not
<br /> ,..... (ta)to the ro�Uoratbn a n�r of the damaged propetty. y sp�t P��� �
<br />�;�-� s�dand or��one the cEue�te af the�r►o�thlY laa��ts wftich are referrod to In Paragraph 2�or charrge tRo amaunt
<br /> :� af such�e•�s.My ew��insur",�.��Sroceeds a�er an amtxu5t required to pay a!I autstanding fnd�tsdness t�rrdaT _
<br /> the Note and thb Se�x�r�y'itt�sttRSnR sF�ati be pski,ta tt�e eMity le�ally erd'dled tfiereto.
<br /> �. In tfie event of f�oracf�ue of thts Secun�ty Instrtxnent or dher nansier af tli�e tW the Pr�perty th�t�uisF�es the --
<br /> a tndebtedneas.au riyht,tl�and uxersst d Borrovrer in arxl to insurance potk�tn tacs shaU pass to the�xuchas�sr. _
<br />-_� 5.Occupanc�l.Prosmrvatlon�Ma'u�nsnc��nd Prolection of th�Prop�4y;BorrcrirK's Losn Applicatbm,
<br /> - _ L�asehoid�. Borrowar shaU occupy,estaWish,and use the Propeity a9 Barowe�'s prirtcEaal residenc�vvithln s6cty days
<br /> aiter the executbn d ttds Security InsUumeru and shatl continue to occupy the Propeity as Bara�+ver's pr(ncipel
<br /> residerx:e tor at least oroe year aftet the date aF occupancy,u�ess the Secretaty tletem►ines this requlremei�t wYl cause __
<br /> undue handship for Bcxn�ver.or unless e�denuating ctrcwnstances axlst whE�arse beyond Borrower's cor�trd.BoROwer r•
<br />�� shall notif�F L�ec�ders af arsy�+n9 ctrcumstances.Borro�wer shafl not commit waste a destroy.damage or
<br /> ..� sub�c�nge the Property oc�+the Property to dete�iorate. reasonaWe wear and tear excepRed.Lende`may
<br /> i�spect tt�Prvperty ff the Pr�pe�t��s�caM or abarxioned or the loan Is in de4auft.Lende�may take reasonabte adion __
<br /> �_� to proted and pre�e sud►vacaz:t or abandccaed Property.Borrower shap also be fn default rf Borrower.durinp ttte =
<br /> Iean applk;ation process,gave mater�alfy false oc�i,axurate tnfortnatlon or s�tements to Lender(orfaAed to pr4�vide
<br /> -r Lender w�h arry materiai tntorrnatlort�in oorx�eco�a�with the loan evidenced�y'tt�e Note,induding,b�t rfot Iimked t0, -
<br />' � represe�datlons co+�cemtng Borrawee's oc�aipa.-icy of the Property as a priroc�pa�resldettce.If thls Sex��y/InstNme+�t!s �
<br /> o�a leasel�old,Borrower st�all cort��v�t tt�provislons of the lease.lf Borr�r acqt�s fee tiUe to the Property.ttte
<br /> � leasetaki and fea title shall not be merged�siess Lender agrees to the merger in writing. _
<br /> - 6.C �s to BorrowK snd ProtoCtion cf L�rid�r's RiaMs ln th�Prop�rtY. eorrower sF►all pay all yavemmentel -
<br /> ' or nuu��M��char�es.fines and lmpos�bns that are not tnduded tn Paragreph 2. Borrower shaU paythese obOgations
<br />` � on tkne y to the enttty wl�icl�Is owed thepaymertit.If�e to pay wouW adversely affect Lsnder's Interest in the
<br /> PropertY.upon Lender's request&xrawer shall prore►PtiY fumish to Lender recelpts evkienctn�thesep yments.
<br /> If Bcrrawer fafis to make these payrnents or the payments requued by Para�raph 2,or faits to pe�fam an ather
<br /> �`:� covenaMa and eQreemer�ta contak�ed in this Secu�ity InsUUment,or there is a legal ptoceedtng that may sb�Y
<br /> - �`�ac�t.��.-'a r�g�Sr tt�a E':a�rty(su;,t�as a psr���'�ts�t�nla�ic�r,for c�de�ns�tlon x ts 9nF�ce l�wa or -
<br /> , �r ulations),then I.ertder may do and pay whatever Is necessary to protect the value of the P�operty and Lender's
<br /> ts in the Property.tnctudin9 PaYment of taxes,hazard Insurance and othet items meMloned(n Para�raph 2.
<br /> My artwunts disbiused by Lender under this Parayraph sF�ail become an add�lorsal debt d Borrower and b0 =
<br /> secured by this Secur�y Instn�.These amouMs shail bear tnterest from the ciafs of dlslsurseme�.ai the Note rate. _
<br /> and at theopt1on of Lender,shail L'ua immedlately due andpayabte. _
<br /> 7.Cot�emnat�on. The�srac�ed�of any award or daim for damages,direct wconsequential,in connection wdh -
<br /> any condert�rtaibn a atl�►t3idcr�,of any part af the Prcipetty,or for conve�ar�ce in place of condemnation,are hereby
<br /> assigned a�d shall be psid tc�L�a�to the extant of the fui!amount o�the�tedness that rematns unpaid under the -
<br /> Note an�i ihis Security 1���Cr��der shall apply such proceeds to the r;�c�cxior�dE�ae tndebtedness ttnder tiie =
<br /> Note a.-�d thts Security�nst�'.�'r'�rt,�ir�to any deU�queM am�u�CS a�nlis�irt the crder�er�fided in Paragraph 3,ac� _
<br /> then to prepaYment cf��na�.Ar.y ap��caticti r�t the proceeds to ti��-sx.�ai shatl not e�cc-fid�.r�the due
<br /> . FHA NE M�KA OHED dF TRUST � � 5/� ~
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