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<br /> ` 9���V���7� LOAN NO. 1 5 3 9 2 1� a 2 9 n:
<br /> 1.Pay��a�i at P:.-�.:�al,l�siaroz:o�L::O Cttz:Qo. Borro.��r shal!pay�ti�an dtm tho ptirsclpttll of,anci Interest an. r
<br /> � the debt ovidencecl by the Note and tate charges due under the Note. `
<br /> 2.Monthty Psyrrtents ol Tanw.tn�r��,vnd t)thar ChA��a�. Borrowar shall lnr.lude In aach mon;hly =
<br /> ' paymani,togethor w�h tha princl�al and Interest as set forth In the Note and any late char9es,a sum for(a)taxe�ar�d
<br /> spactal ass�sments levted or to be levlaci apalnst the F'roperty. (b)leasehold payme�ts or graund renis on th�
<br /> ' • Property,and(c)premlums tor insurance requlred undar parap►aph 4.In any year In which t��e Londer musi pay a _
<br /> mortaaoe fnsuran�e Dtemlwn to the Secretary ot Hot�sln�and llrt�an Devetopn►ent('Secr�etary'),or tn anp yoa'r in whk:h -
<br /> � suchpremium wa�ld havQ bee�requlred �LESnder stYi tseid the 5eaurny Insit�meni,aacn moni�N�r pu���ie,�i�i�ii ai�u =
<br /> Ir�ciude e�her:(1)a sum for the annual mwtgage fnsura�ce�xdmfum to be paki by Lends�b the Secretery, or(II)a =
<br /> � � monthly charge tnstead of a mortgape Insur�nce premlum M this Security Instrument Is held by the&e.:retary,in a
<br /> i reasonabie amount to ba determl�ed by tho Secretary. Except farthe monihly charQe by tha Secrelary,thasa kani3 �
<br /> I are called"Escrow Items"and the sums paW to Lende�are called'Escrow Funds'
<br /> 1 Lender may,at any tlma,cdlect and hdd amounts for Esc�ow Items tn an ag�regate amount not to exceed the
<br /> maxlmum amount that may be requtred for Borrower's escrow accouni unrler the Rea!Estata Settlement Procedures
<br /> Act of 1974, 12 U.S.C.S 2601 et seq.and imptemantin��e�ulatlons,24 CFR PaR 3500,as they may he amendeci fran �
<br /> tlme to time('RESPA'),except that the cushlo�or reserve pertnEttad by RESPA for u�antictpated disburseme+lts or �
<br /> disburseme�ta.`.afore the Borrower's paymenis are avaflable In the account may not be based or�amounts due for the �
<br /> � mortgape insurance premium. �
<br /> If the amounts hetd by Lenderfor Escrow Items exceed the amounts permitted to be heid by RESPA,Lender shall ��-
<br /> . ; deaf wfth the excess funds as required by RESPA If the amounts of fund�heid by Lender at any time are not sufHcient �
<br />: :, j to pay the Escrow Items whan due,Lendec may not�y►the Bortower and�equlce Borrower to mafce up the shortape or
<br /> � �'` deflclency as permitted hy RESPA =
<br />>,:�;` � The Escrow Funds are piedged as additional security for all sums secured by this Security Instrument. If Borrower =
<br /> r. ` � tenders to L.ender the full payment of ali such sums,Borrowe�'s account shatl be credited wfth the balance�emaining -_
<br />`. ;.� �r all Instaliment ftems(a),(b),and(c)and any matgage tnsurance premlum fnstallmeni that Lender has not become _
<br />�. ����� obltgated to�ay to the Secretary,and Ler�der shall promptly refund any excess funds to Borrower. Im mediately p►ior to _
<br /> . .�::�� a foradosure sste of the Property or its a uisitlon by Lender.Barcowers account shall be credited wiih any balance �
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<br /> �emalning fnz�i�Instaliments tor ftems(a)�b�,and(c). ;
<br /> ` 3.Application of P�yrrwMs. All payments under Parag�aphs t and 2 shall be appqed�y Lender as idtows: -
<br />�� : '� �IRST,to tho mortgage fnsurance premium to tre paid by Lender to tha Secretary or to the monthiy charpe by the _
<br /> �. Secretary Instead d the monthly mortgage t�su�r�a premtum; �
<br />�;-.',; SECOND,to any taxes,speclal assessments.teas�t�ok!payments or pround rents,and f�re.flood a�other haz� .
<br />;�r.,��: ; Insurance premiums.as requlred; p
<br />` �'``` TFfIRD,to Interest due under the No2e; -
<br />.�• `''� FOURTH,to artwrt�ation of the princlpal of the Note;
<br />'''� FjQ,�{,to late charses due utxier the Note. =-
<br /> � 4.Firo.Flood stx!O�her H�wM Instkana. Borrawer shall Insure a!!Ir�vemeMS en the Ptoperty,whether -
<br />;L;:�` now In existence or subsequentfy e�ecxed,ayafnst any hazards,casua3ties.and contingerx;ies,including Hre,for which =
<br /> S.. Lender regutres insuranco.Thls insurar�ce st�all be malntatned tn the aar�vnts art�d for the peri¢x3s that Lendet�equires. -
<br /> � Barrower shall also Insure all Improvements on the Property,wheiher now tn exi�ence a siat�sequer�ly erecced, -
<br /> r against lass by floods to the exteN req�ired by the Sec�etary.A!1 insutance sh�be carriad w�h compan(es approved
<br /> "i by Lender.The insurance policies and any renewals sliail be held by Lender ar�s1�aU indude loss payat�e dauses tn ■
<br />,.� favor ofi,and tn a form accapt�ble te,Lender. -
<br />'� ln the evsnt of loss,Bortower shau�,t�e Lender immedlate rsotice by ma11.�ender may make prooT dtoss ir not
<br />.'� made ptomptly by Borrower.Each irssura;�ce company conce►ned is hereby suthorized and directed to make payment _
<br /> `� tor such loss direcUy to Lender.instead of to Borrower and to Lender Jointly.A!I or any part d the Insurance proceeds
<br /> � may be applied by Lender,�t its optbn,ekher(a)to the reduction o�the tndebtedness under the Note and thts Securiry
<br /> Instnunent,fl�st to any deta�quent amounts applied tn the orcler in Paragraph 3,and then to prepayme�t of principal.or
<br /> (b)to the restoratlon or repalt of the damaged property.Any a icatlon o�the proceeds to the principal shall not -
<br /> extend or pasipone the due date W the monthlY PaYmer�ts are referred to in Paragraph 2.or chan�e the amourn
<br /> of such paymeMs.My excess Insurance proceeds over an amouM required to pay aU outstandirq G�debtedness under
<br /> the Note and this Secudty InstrumeM shaU be pak!to the eMity leyalty er�titled thereto.
<br /> In the event of ioredosure af this Secudty Instn�meni or other trsnsfer of title to the Propeity that eo�Wgulshes the -
<br /> indebtedness,ail right,Nde and Ir�erest of Borrower I�and to tnsurance pdicies in force shall pass to t_he purchaser. -
<br /> �� ��+M�Y�Prw�rvatlon,A�sintu�tnc�and ProNctlon of tM Property;BorrowK's Lwn Applidtion;
<br /> lASS�hoWs. Borrower sttiaU occupy.estabitsh,and use the Property as Borrower's princlpal resfderx�withtn sbdy days
<br /> � after the exec�ion of thts Security Instrt�ment and shaU contMue to occupy the Propetty as Borrawer's princtpal
<br /> +� resldence for at least one year afte�the date oF occupancy.uNess the Secretary determ(nes this requtrement wAI cause _
<br /> ,�. undue hardshtp for Borr�.or uNess extenuatir�g ckcumstances exist which are beyond Borrower's contrd.Borrower
<br /> _�t shail notHy I.snders of am�extenuaii�g circwnsta�ces.Borrowar shaU not commit waste or destroy.dama�e or _
<br /> s��sisraially change the Property or aliow the P�q�e+ty to deteNorate,reasonabie wear and tear exc�pted. Lender may _
<br /> :i��, tnspect the Propeny ff the Propeny Is vac�r�t or abandoned or the loan Is tn defatdt.L.ender may take reasanable actlon -
<br /> f�' to protect and preserve such vacani or abandoned Property.Bartbwer shall also be in detault ff Borta+ver,du�iny the =
<br />; � loan app8catbn process.9ave mate�ially false or Inaccurate InfortRation or statements to Lender(or failed to pravide
<br /> Lender with any mate�ial t�Eomtiatlon)In connectton with the loan evidencect by the Note.tnduding,but not Iim�ed to, _
<br />`� � represeruaatlons concemfng Borrower's occupancy af the Propetty as a pric�ci�aal resldence.lf this Security Insnument ts _
<br /> . on a leaseftold.Borrower sl�a{I comply with the provisiorts of the lease.lf Bom�wer acquires fes title to the P�op6rty�the =
<br /> leasehold and tee title shail not be merged unless lender agrees to the merger in wriNng. _
<br /> .. 6.Char+�ss to Bartower�nd Protestlon of Lendsr's Rqhts tn ths Properly. Bomawer shall pay all gavemmernal _
<br /> or muNcipal charges.flnes and Impcuitions that are not induded!n ParagraFEx 2.Borrower shaU pay these obfigations _
<br />' '= ost tlsrt�dirs�tiy to iha sr�it��ttch U ar�tr.a paym�i.{f hilLra tc�y��:�r-w:,;:�ltsai l.srs�s:s{rstsr�(r�tha _
<br /> Property,upon Lender's req�est Borrawer sha11 promptty fumish to Lender rece�s etiridencing these payrner�is. _
<br /> If Borrower fails to ma�ce t�esepa}�rr�e�ts or the payments rec�uued by Paragraph 2,or fails to pertortn any other _
<br />`��:�.j{�. covenar►tss a.nci a�rsements coi�irl�d t�irthFs Secu�ity Inswmenc,or there Is a legal proceading that may s niflc�rWy -
<br /> na ig
<br /> affect Lene�'s rlghts in the Propeity(s�ch as a proceedEng:n Eiar�auptcy,for condertu�atk�or to ertforce�aws or
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