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<br /> � LOANN0. 1539214585
<br /> � 1. Peymeitt o1 Princl�el,Intarest�►td Id�te Chnr�o. Borrawer ahall pay t�:hen due tho prinr.Ipal of,and Inter�st on, •
<br /> the tle�t ovldenasd by tho f�otv and lata chargo�due under tho Note. � . :
<br /> � 2, f 7ot�3Folv E�ny�oio�ito e}'Pt�uoa,I��o�rnnco,end Otiior rher�po3. Borrower shell Include In each monthly -
<br /> ' payment,togati�er with the princlpal and lntorest as set forth In the Note and any lato charges,a aum for(a)4axos anc: _
<br /> speclal aeseasrnenta levlad or to be lovled aflalnst tho Property,(b)IRasehold paym�nts or ground rAnts on ti�e .
<br /> I Property,and(c)premluma tor Insurance requ�reci uncier Paragr�ph 4.In any yoar In whlch the Lender must pay a � .
<br /> � mortgage liiaurance premtum to tho Sscrc,tary of Housing�tnd UrFw�l]evel�pment("Secrotary"),or In any year In whlch
<br /> such premlum would have bHen requlred if Ler�der�tlll held the Securlty Instrument,each monthly payment ehail also
<br /> I be
<br /> Includo elthae:(I)a aum for the annual mortgage Insurance premlum to be pald by Lender to the Secretary,or(II) a
<br /> manthly charpo In�zea�oi a mortgage In�urance promlum It thls Sec�;rliy Instrument Ia held by the Secr�,tary,In a
<br /> � � reaeonable amount to be determtned by the 5ecretary. Except for the monthiy charge by the Socrotary,thesa Items
<br /> are called"Eecrow Items"end the sumepaId to Lender ere called"�scrow Funds."
<br /> � 'M Lender may,at any tima,collect and hold amounts for Escrow Items In an aggregate amount not to exceed the .
<br /> maximum amounY that may be requlred for Borrower's escrow account under the Real Eatate Settlement Procedures
<br /> Act of 1974,12 U.S.C.9 2601 ei seq.and Impiementing re�ulatlons,24 CFR Part 3500,as they may be amended from . � �
<br /> time to tlme("RESPA'),except that the aushlon or reserve permfttod by HESPA for unanticlpateci dlsbursementa or
<br /> disbursemonts before the BaROwer's paymer�ts are avallablo in the accouni may not be based on amounta due for the .,``,;
<br /> � mottgage Insursnce premlum. ��:1;�:=?� `
<br /> If the amounte hald by Lender for Escraw Items oxceed the amounta permitted to be held by RESPA,Lender shall 3:>;,�, J
<br /> deal with the oxcess funds sa requlred by RESPA. if the amounta of funda held by Lender at any tima are not sufflclent „� „
<br /> topay the Escrow Items when due,Lender may notlfy the Borrower and requlre Borrower to makH up the shortage or '"��;��';',;�".
<br /> ,�.•:; deilclency as permltted by RESPA. �� ���k�-��-
<br /> � :,• .,. �. .__
<br /> �.;;:.�,��;.� The Escrow Funds are pledged as additlonal securtty for all sums secured by thls Secur6ty Instrument. If 8orrower .�;.:��,, _,,_ _.
<br /> , �y;:�i',.
<br /> °°�� tenders to Leres�or the fuil ayrnent of All such suma,Borrower e account shall be credfted wlth the balance remalning 4,::;�,,�;i.•u�:,�;�.
<br /> ,,,.;;;; ; . .�.,:,,..... .-_-,.,,.;.,
<br /> - for all installment Items(a,@).and(c)and any mortgage insurance premtum instaltment tht�t I.ender has noA beco�ne ,.� :,r�:.:_
<br /> ;.1,i ,�..
<br /> ;, !I obllgated to pay to the$ecratary,and Lender shall promptty refund any excess funds to Borr�wer. ImmeKllately prior to ��, �� •� �:;:����:t�;;"',���
<br /> � � �'t�" a foreclosure sale of the Property or its ac uisitlon by Lender, Borrower's�ccount shall be cr�dfted with any balance ; �, � �;�',;,a��..
<br /> ' � eema(ningtaralllnstallmentsforRerns(a),�b),and(c). '``>�`: `' '�`��`�
<br /> '' �{���-,� -��.�
<br /> `�'��'�r. ,k � 3.Appltcatlo�e of Payments. A!t payments under Paregraphs t and 2 shRll be applled by Lender as fo{lows: ,.Jtk;�°;_W._
<br /> ;y,.;;, •� ,;';�s,:�
<br /> , FIRS�,to the mortgage Insurance premlurn io be patd by Lei�der to the Secr�tary cr to the monthly chame by the t r;�N- �:.r-�
<br /> • '�i<' :•c-:�
<br /> � Secreta Instead o f t he mon t h ty mortga ge Insurance premlum; y t."�.-„ ,,;h;�.
<br /> " �..� E ,to any taxos,specfal assessments,leasehold pay ents or graund rents,and fire,flood and other hazatd ^�:. -:���,_
<br /> '�, m �::•�s'�S.•!�;
<br /> Insurance premlwna,�►s required; r•�� ;
<br /> •'� � THIRD,to Interest due uncier the Note; �'�'
<br /> ,,.:;�, " •
<br /> � j �QURTH,to amortlzstion aF the principal of the Note; �°•�`'
<br /> t._, FIFTH,to late charges du�underthe Note. �`�
<br /> . ';'r'�;l a.Fire�Flood a(id Othlt Ii�L�rfE I�esUfa11C9. BoROwn����a����rsuce ali Ir�pr�.a�or.t�C�t:h3 P!L` ..liu w�gthnr .,:.
<br /> - •.;`�`�,'�:�! now In exEs4ence or subsequently erected,ugalnst nny hazarcis,cASUaltles,and contingencies,Incl (ng�ire,tor whleh �:,r<:.
<br /> . '`'"�' Lender rQqulres Insuranae.Thls Insurance shatl be maintained In the amounts and for the pAriods that l.ender requlres. �+'
<br /> � Borrovuer shall elso insure all improvements or�the Property,whether now in exlstence or subsequently�racted, '
<br /> agatnst loss by flooda to the eMent required by the Secretary.All Insurance shalf be ctttrfed wfth companles approved �i�;�. �
<br />". • by Lender.The fnsu�ance policies and any renewals shall be held by Lender anci shall Include loss payable clausea In ,
<br />_a � .,. •.�.;'; favor of,and In a form acceptable to,Lerxier. ��, �er ma make raaf of loss ff not �'
<br /> �� � •• �; in the event of toss,Bcrrower shatl gNe Lender Immedlate notice by ma Le y p
<br /> � made promptly by Borrower.Each Insurance company concemed Is hereby authorized and dlrected to make paymant
<br /> - � far such loss direct{y to Lender,Instead of to Borr�wer and to Lender IolnUy.All or eny part of the Insvrance pro�eeda :�r.
<br /> ,' may be appllad by Lender,at fte optlon,eRher(a)to the reductlon of ti�e Indebtedness under 4he Note and thls�ecurity _
<br />-.�� ' . � Instrument,first to any delinquent amouma applle�In the order In Paragreph 3,and then to prepayment ot pdncipal,or _
<br />'4'°��- a�-�������x ���"' (b)to the restoration or repair of the damagai property.Any appllcatlon o0 the proceeds to tho�rinclpal shall not �.
<br /> s�.,,,..;,..:.: r,
<br />�,:::�� ' `�'�� -`��:_ extond or postpone the due date of the month iy paym e n t e w h l c h ere reterred to in Pa�gra pfi 2,or change the amaunt
<br /> -- �}�•�
<br /> i" =��� oi such pAymoMs.Any excess Insurance procaeds over an amount requlred to puy all outstanding Indobteciness u er
<br />_�'-;�'�"��`i"t'"_� the Note and this Security Instrument sha(I bep�Id to the entity legally en2ftled thsreto. —
<br />'�-•_-r-r.�y,�r•-•:•
<br />�;;��rr:., In the event of toreclosure of thls Secu�ity Instrument or other 4ransfe�of tmo to ihe Property thet extinguishes the �{._
<br /> �.;. � �r. Indebtedness,ali rigM,tme and interest of Borrav�rer In and to inaurance policle�In force ahali pass to the purchaser. _ --
<br /> �_ �_ -� " 6.Olccupancy�Pres�rv�tion�M�inten�ncs�nd ProtECtiar+of the Propsrty;@�rrower'�Loem Appllcatlon; _- _ _
<br /> � I.�s�hofd�. Bomower shall occupy,eatabllsh,and use the Property as Bortower's princlpal residence withln stxty daya � ___
<br />����'N'<x; `. ' a8er the executlon ot thls Security Instn�mant and shail contfnue to occupy the Praperiry es Bomower's principal
<br /> ="==''�'t �"� " �� seaidence far at least a�s�/ear after the date of occupancy,unless tho Secretary determines th{s requirem�eit wHl cause �,�.:
<br /> =,;�-N . r,�
<br /> .,*.. undue harclship for Borrower,or unlecs extenua:ing clrcumstances exist whiah aro beyand Borrower's contrd.Bonower �_:._ _'
<br /> ,.�� . � shall notffy Lendere of any extenuating atrcumstsnces.�orrower shall not commft waste or destroy,damage or �.+,_^�_
<br />-r�� �'^'��� ,�':�,�•?; substaMlally chando tha properry Qr af4ow the Property to deter�orate,reasanable wear and tsar exceptod.Lender may o.��.�-::�- -
<br /> -x�-��` =�� y�''> inspect the Property ff the Property Is wa c a n t a r a b a n d o n e d ar th o loan Is In defauit.Lerxfer ma y take reasonable act�on . °�` —.
<br /> .....: '. , ��� -_. ---___,.
<br /> 4o protect and preseroe such vaca�t or abandoned Prope►ty.Bonower shali also be fn defauit ff Bomawer, ur n�t e
<br /> ooan appilc;atlon rocess,gave materially false or Inaccurete Information or statemente to Lender(or i�ilad to provlde Y��'""`-`
<br /> 2ender wfth any materfal irdormatlon)In connectlon wfth the loan evidonced by the Note,Includtnp but not Iimited to, �;,� u t?`-_��
<br /> .. �'���',t reproserrtatlons conceming Borrower's accupancy of the Pro rty as a principal resldence.If this S�ecurity Instrumont Is �,T.
<br /> - ''":�•:s'�•� on a leasehold,Borrower sha11 com�i+j with the provisiona of t e lease.If Borrawer ac ulres fee t�le to the Pro e ,th�e ' . . .;��°
<br /> 4 P nY ', � � ��;�:s:;
<br /> � �"'� leasehold and tee t�le shall not he men��d untess Lender agre�s to the merqor in writing.
<br /> '�� � �� 8,Cher�s�to 8orr�evnr�rtd 6�r�e3�ctton of Lend�ar'�R hts(n tho Property. Borrovrer ehalt pay aA govemmental �,';�`���'=,,;;��; '� '
<br /> r..,�
<br /> � �. � or munictpaI charges,finea�nd lmAosftions that t�rd not incluroded In Parag�aph 2.Borrower shail pay theso obligatlona ':'����.>'%"� -�, �'
<br /> ,. .......,. ;�� ' �
<br /> � r on time directiy to the entity which is o�red the�►ayment.If faflure to pay would adversely affeci Lendar's Interest In the �;:.<•�•.;_;1` �"� �
<br /> ;,,:, ,::�r�•'ft�
<br /> Property,upon Lender's raquest Borro�ver shall promptiy furnlsh to Lender recelpts evitlencing thosepayments. ,, .�+�•,,.;:-
<br /> If Borrowor falls to make theso payrnenta or the paymente requlred by Paragraph 2,or falls to perform any othor , ��..;.��,,;�:�-� °
<br /> :>�t�"i�:'�� "� covenants and agreemente contalned in this Secu�ity Instntment,or there Is a legal proceeding that may alflniflcaMiy - , -'��;°?�;;.:,
<br /> ' .. .
<br /> __-_ _ _ Aff�ct Lender's rlahts In 4he Qronerhr(such as a proceedinp ln bankruptcy,for condemnatton or to enbrce laws or '" " �
<br /> _ -
<br /> -_- �• --,-�-
<br /> ° regulatlons),then Lender may do and pay whatevor ts nocessary to prcnecc me vaiue Qi me r�operiy anu��tid�o - -" -
<br /> rigMs In tho Property,including payment af texes,hazard Insurance and other ftems moMlonod in Paragraph 2.
<br /> � Any amouMS hcsbursed by Lendar under this Paragraph shall become an addklonal dobt of Borrower and be
<br /> � secured by thls Security Inst�ument.Thase amounts shall bear fMOrest from the date of dis0urseme�t,at the Note�ate, , _
<br /> ' and at the optlon nf Lender,shall be Immedfately due end payabie.
<br />— � � 7.Candemnat�on. Tho proceeds of any awarcl or clalm for damaQes,direct or Consequentlal,In connection with �
<br /> any condemnatlon or other taking ot eny part of the Praperty,or for conveyance In place of condemnatlon,are hereby
<br /> � ' � esslgned end ahall kse pald to Lender to tho extent of the tuil amount of the Irtdebtedness that remalns unpaid und�r the
<br /> Note and this Sacurity Instrument.Lender shall apply�uch proceecls to the reduction oP the Indebtedness urxler the
<br /> Note and this 5ecurity Instrument,flrst to any delin�uent amounts applled In the order provided In Paragraph 3,arid
<br /> .. then to prepayment of principal.Any appllcation of the praceeds to the princlpal shall not extend or postpone the due . ,
<br /> - -----�- ;, �_._ .__..--__-
<br /> • FHA W88RAS16A DEED OF TAUST s��s
<br /> ISC/FMDTNE//06�J1/(695)-L PA(iE 2 OF 4 . !
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