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<br /> �� . . . . . . � ' ' ` ' . . . . ' ' . . . .
<br /> L`p�y�ept ot P�,Interest sad l.atcEl�tge. Borrowct shall pay when due dte principal of,and intetest on.
<br /> ` thrdebt evida�o�d by tbr Nate and late cI�arges duc under the Notc:
<br /> �.. Maet61Y Payments d T9zes,lns�a�aacc apd Otba�C�arges. Boirower shaU inctude in each n►anhiY PaY��
<br /> - togethes wiih the principal and'unt�t+es[as set fa�th ia tl�e Nou and aay late c6arges.au inscat{iaent of.any(a)taxes and _
<br /> spxial a�euts ievicd or w be tevied against tbe pmpe�ty.tb)le�aschotd paymenu or gnwnd cents�.the Property,aad
<br /> (c)P'emiums for insurance tequu�ed by P�ragiaph 4•
<br /> Each montIily i�for iums(a),(ba and(c)sl�aall equal.one-twelfth of the armual ama�ccts,.a$rea5onably =-
<br /> ,r_-_� � r�mated hy Lende�:�tlus•an amoant suf6cient to maintain an add�tionai 6atance of not more th�.�xth of the - - -- .___.___ .
<br /> eswnated:a��-,;:'$'�le full annaal amount for each iftm shaf!6e avcumuIated by ixnde,r a+rtfia a��e¢d�ag.on� -� _
<br /> —�� tnonti�b�e€a��u±c�?:?uafildbecame defit�}uen� t.ender shafifiotd the amounts.cQltated in mcst ta�:.�t�stal:i$�� -- � ----- T
<br /> �_�� (c)befarc��'�tr�Liaqnent . . . _ '. . . �.._ ,. . �, :,"' ° -
<br /> `;: ff at any ume�ie�i 4f the PaYmeats heid',s�L.ender for items(a�,r:bn�(r?.tQ�ett�er witii cfie€�tvre montti[y �� -s-�—�
<br /> � payments for snch itaQS��ay�T���,eader•gc:oc'ffi;the due dates.of svch ites�s�,e�ceeifs by mote than one-sixth il�e _ —
<br /> estimated amount of pu�����a pay s��tems when due,and if payinents on the Note ate cumen�then I.ender �� � _.
<br /> shaq either nfund tl�e excess aver o�e�xth of the estanated p�aymenu or credit the excess over one-sixth of ttie estimated= ��.
<br /> paymenu ta subsecryent payments bg Boaower,at the optian of�arrower..If the tatal of the payments made by Barrower g°"====—m= -
<br /> far item(a).tbl,or(c)u uuufficient to pay the item when due,then Banower shatl pay to Leader any an#ount necessacY to ---��
<br /> make ap the deficieacy on or before the date the item becomes due. - . �`-;:��
<br /> " �Y S � h� �==m=_�=-
<br /> As used in thic Se,rnrity inttnimen� SecretarY'�means�he Secre of Housin and Urban Oevet nt ar his or
<br /> designa. M sirrFy year in which tfie Lender must pay a mortgage insurance premtum to the Sec�etary.each mdnthtY PaY� "°. �';-_
<br /> . ` shali aTso inctFuyde either. (i)an i�tattrt�rnt of �he annua!mortgoge insurance preraiwn[o be paid bg L.cnder ta the :y� `.:;�--
<br /> �. Sa:retary,or fii)a ma�thiy charge instead uf a mcxtgage insurance premium if this Security inswment�s held by the . _ -
<br /> Secretary. EaFh mont�tY in�tailment of the mortgage insur.�nce premiam shall6e in an amount sufficient to xcumulate the '�...��`,-
<br /> � fuli annual mortgage itrsuraace p�emium with Lender oae montl►prior to ttie�tc the full annual�matgage insur.�nce - �; _
<br /> __ peemi�un is due[o the Secnetary:ac�f this Security Instrument is held by ihe Secretary.e�ch monthty ch�shal!bc ia an: . •
<br /> - ateount equal to one-twelfth af ane-half percent of the autstanding principal balarxe due on tl�e Nete. -
<br /> ' "��° If Bormwcr tenders ta Lender the fuU p�yment of all sums secured by this Security Instrumen�Bamwer's•xcount _ _ _
<br />, �;;i:`; shali be emdiuQ with the Wtauce remaining fos all�nstalhnents far items(a?.Ib)and(c)and aay matgage insurance . - - _
<br /> ;���f' '� � prcmium instalimem that l.ender tias noi became abligated to pay to t he S e c r etary.and Lender shall promgti y refund any _
<br /> �,r , •-.-���� e z c e s.s f u r t d s t o B o r r o w e r. T m m e d i a t e l y p r i o r to a foreclosu�e sale of the Pro p e c t y or its a c quisition by Lender.Borrower�s , , ��
<br /> r -.-,�.�Yr .,. , acca+nt s h a i l D t c r�e d'st o d wi t h any b�l a n c e c e m a u i i n g far all instalLnents for items(a?,(b)and(a?. •z=_
<br /> �+���•: �' • 3. Applkk�atioa ot Pxyments. All paymenu under Pafagraphs t and 2 shall be applied 6y Lertder as follows: �
<br /> "'? w pta the mort e ituwance rem�um to be aid b l.ender to the or to the tnamhl char e b the �:�n��-
<br /> .`�:,�,'-•„ , p y Serretary Y g Y �•
<br /> .�; �B�T+ Sa8 P -+�,:.�"'�•_
<br /> ;, .:.;-.�- ��"�: . Secietary instqd of the mumhly mortgage insurance premium:
<br /> . _ �ECOND-to any taxes.spe,ciai assessments,teasehotd paymen[s ar grou.n3 rents,and ficc.Qoad and other harud � �;45,s:
<br /> �` ' ��_
<br /> .. ;; . . , .•., ;r;,.,..- F
<br /> •- ``- - itts�uatxepcemiums,asr�azd: _ ��.•"`>,e`�'°
<br /> 4_:,;�;'`; ',-', TH[$Q,to inter�c�'e�the Note; . ;;.�,�„t ;>r, t _
<br /> �- �, %
<br /> ','i �`s fr' �.. �OURTH.w��.zz�oa di the principal of the Note: ' �`! -—-
<br /> 'oa
<br /> ;ti+,,it�.f.. .., '.. �Jg�,tolate�3ia�es�eiadertheNote. . ,�Er,`�`r�,i'�,"
<br /> . :.�: �}i:»,s��� : 4. Fire,F7oad r�fk5�Ra�sd lasu�aace. Borrowcr shaU insure a1d�veme�cs an the Prop�y.whether now i� •:;;��;.,;':::.;:,�'=�
<br /> lasuraa
<br /> :�,�!.:: ... . _ r ". ,<<;:,.'�,;".�':7}r�' —
<br /> :s,,,.,, in ezistence or subs�3zatty.erected.against any hazards.casual6es,and cos��icrgrne�es.ir�c.ading fire.for which Lende� . ,,�,:;-,:7.
<br /> iequines insurance. �:�s insnrance shall be maintained in the amaunts and far t3�e riads ti�at Lender reqttires. 8oaower . .,:;;�,-,;,���;
<br /> ���;i�:'._: : ` - Pe ;.
<br /> �:,:;>,: - shall also insure all improvements on the Property.whether now in existence or�ubsequenSy erected.again�toss by tlaods •;. ,;r.'� "
<br /> . . . ' to the eatent required by the Secreta�y. Ail insurance shall be carrie@ aritti companies apprmed by Lend.°r. The insurance , ;��;•''. � _
<br /> . policies and any tenewals shall 6e held by Lender and 5ha11 inciude toss payable ciawsrs in favos of. and in a fortn : �
<br /> .'� acceptable to.Lender. , r -
<br /> � ' ' , Iia t�re event of 1oss. Boaawer shall ive Lender immediat�aotice by rnail. Lecader�aay make presaf of loss if not � 1 ,.' ,�` . _
<br /> . ;,;ts . �'� S '.7,.,.;,.
<br /> ''• �i :_ made pivmptiy by Barrawer. Fach insurance company concemc d is here by aut ha c�t z e d a��dire c te d to m a k e p a y m e n t f o r i:; .-:•.;:'.,;:;;;•,�;:: : ,,�
<br /> :�;t�• ., such loss directty ta E.e�r.autead of to Borruwer and to l.ender joirtly. Ail ar any pan of the insurance praceeds may 6e r�• - _
<br /> -'~'�' �' ' a lied [.ertder,ai it� on.eilher(a)to the reduction of the indebtedness under ihe Nate and this Secunty lnstrumenti � , �
<br /> - �;;�`��• ••;:�� fi�ta ar�iy del i r r�u e��a p ptied 'm the arder in Para a h"3,and then ta a ment of �nci al,or(b)to the _ • _
<br /> � p P�P Y, P P �'.,''� �c:
<br /> `'f�' ����'� ,�-��'• `' mstoration or r air of�*_e daina ed propeny. An a lication of the raceedy to the nnc� 1 shall not extend ar s ne ,•�:`���."`,�• __
<br /> eP g Y PP P P Pa Po� ���� '�'" � • ..::,: ._
<br /> � �'��°°;� r:,�: :,'�`�;ij� the due date of the montt�.t a�ments whu are rcferred ta in Para ra h 2,ar change the artiount of such a enu. An � �i°.'':;;;' ,..'. � _
<br /> YD f h 8 P P Ym Y �,.= :,.."..... :-, , � .
<br /> :;1i_r:.. excess inswance proaeeds over nn amount required ta pay aU outstanding�ndehtednesz under the Note and this Security ,� ' •.�-;'�>,• . -- =
<br /> • -� •< lnstntment shall be paid ta the entity legaliy entiticd thcreto. ���, . •`�'`�' •� • "�� -
<br /> ' � '=�^ � � � In the event af foreclosure af thiw Securit Instrument ar othcr transfer of title ta the Pta rt that extin uishes the ;� : . • ..s_�.��-
<br />. . 3�:��: ' �•% , � , i�debce�n;,ss.a.�l right,�itle and interest af Borrower in and to insurance palicies in force shall pati�oihe purchasser. .��,�.,t� ;••.;,;�!_��;
<br /> ,' � .. .:,::; , S. �ccupancy. P�'esa'�'atlon, Maintenance and Protection ot the Property; Borrower's laan Application: �, , �.,;f,;�•;��.�ts+,�.�
<br /> : l.�fialds: $pnawer�ha11 acupy.establish,and usc tho Property uc 8orrower's pnncya1 residence withia sixty days � '�°�-
<br /> �i�:�;;. ��; `:. after the execution af this Security Instrutnent aad shall continue 10 occupy sh�Pr'opera�•a+Barrawer's princi�l rcwidence i ., �.;'' ,
<br /> for at lea�t one year�lter the date of occupancy.unlecti the Secretary determirce�this.rzquirement will cau.se undue hardship •`�-"•�%�'� .
<br /> %.'..• ''. . .: :.,��:,;z_ ,
<br /> �.��.•�� ' • for Barrower, or tuitess eztenuating circurristanccs exist which azc beyonc€�urrou�e�s coniml. Horrowcr sha11 noti(y � �!��••.r.�� �`.
<br /> T. .5,:..�'. '
<br /> Lenders of any exsenuating circumstanccy. Burrower tihall not commit was're ar�e.troy,:•damage nr substantially change ; ``:,�-',�?��.
<br /> rr '. � the Property or altow the Property w deteriornte.re�yonabtc wcar and tear cxcep:rd; l.c:���r may in�pect the Roperty if the ,:•. , .;:':.i'..
<br /> 4,, Property is vacant or abandoned ar ihe loan i.r in default. Lender may take re�wna�te a::tian to pratect and preserve such ,
<br /> vacant or abandoned F'rnperty. Hurrawer shall atro be in�ePault if Rorrow�.�turin�th:1cr.�n appficatlon process,gave ,'�';'�'. ,
<br /> • matedall�t futce ar inaccurate mfarmation or statementa to Lender (or �"aated tn ��c���ide l.cnder with any matenal � •
<br /> ' information)in eonnection with the loan evidenced by the Nate.including;but r,at 1Emrte�tv,represen�ation.w canceming
<br /> � � Bortower's occupancy of the Praperty ati a principal recidence. If thi�5ecurny(n+trumc�e is�n a leasehold.Bnrrower shall E ,
<br /> compiy witfi the provisiuns of tfic Icase. li'8nrra�ver ucquires fcc tille t��ihr F'ro{x rly,tfsu iea.tichold and tee title shall no�
<br /> � be mcrgcd unless Lender agrccw ta thc mcrgcr in writing. i
<br /> 6. Chuges to Bnrrower and PrutecNun of I.rnder's[ti�his in thr Pruperty. Hanawcr sha11 p:�y�II gavernmentul
<br /> ar municipal chargcs,fincy und impositi��nti that:uc nat incluctrd in F"ar�gn�ph 2. H�+rraw�r sh�11 pay thcsc obligatianw on .
<br /> � time directly tn the entity which is uwed the paynicnt. If failuro t�►p;�y wouW udvcr.cly affect t.cndcr:v intcresl in the •
<br /> � ' ' i PiropeAy.upon Lendcr v rcyuest Barrnwcr shnll prampUy f'umi.rh la Lcndrr rcccipts evidc�cing thcsc paymcntw, j
<br /> . . . J• lt Bosrowcr fails to msilcc the�r paymentv ur the payments requircd by t�arvgr�ph 2,ar f:�ils ta perf��rm uny �ther i, •,
<br /> . • covenants:ind agmementy conlained in thiz Security Instrument.ur�herc iv u tegal pr�xecdin�;that may��gniflc:u�tty atfect . �
<br /> .• � .._ � '". l.ender's righ�y ln the PropeAy(such�s a pnxecding in fiankn�ptcy,for rnndemnati�m ur to enf��rcc laww��r reguiatwn�). .
<br /> ttten Lrttder mny do and pay whatever is necessary tn pn�tect�he value of thu Prnperty attd l.endcr's•ri�:ttts in the{'rn�ny. `
<br />- - --� • � including paymetrt of tayces,fiar.ard inti-urunrc autd o�her�tems mentioncd in Paragr.�ph 2. - _ -
<br /> � Any amounts disbu�sed by Lcnder undcr thiw P�araEr�ph shall becnmc an udd�tional dcbt of Hnnuwcr zutd bc.recural E
<br /> , . • by thLs 5ccurity Instrument. 'i'hese:unnunty stu�0 bear intere�t fram thc date of disbursement,at the Note rate,and at the �
<br /> . option oi Lender,sh�ll be immediately dne and payabte. !
<br /> • " ' 7.t;cmtdemeafiort. 'fhe prnreed�uf s�ny awaid t�t claim fpF daltts�4s<i3irect or ran.cyuential,in cunnection wi�h any , ., .
<br /> •. ,, condemnation or other tatcing of any part af the Prnpeny,oe f`ar c�mey�tce_ir�p:acc af rUndemnatian.�re hereby a«i�ned ,
<br /> �.. �
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<br /> � 'c
<br /> ` � ,;`�i::, .�. • � and shal)be p�aiA t�.Lender to thv extcat oP the Pull amount oF thc irtdebteclttos4 that rem:�im nn aid undcr the Note and 11n_
<br /> : ' - i• .Secutlty Iastrumen� �.enAer ehalE a�P1Y suehproceeds to the reductian of d;e�zd�h:cd:ta�.undcr!he Note attd thi�5cctuity .: ��_..�.'.: _-- -
<br /> - _•. - -
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<br /> --,� ; - --- - -
<br /> ,:� ;. . 1nsM�men�first ta$ny delinquens umounis applied in thc oii�er provid� in•'�aracr.�h�;::�d then ta prepayinerit of �� .
<br /> • - �� . �- ptincipal: Ariy�ppllc�on ot the praceeds tb thc psincipsl shail! not exten�i�r pa�+cm� thc due date �f thc mnnthly ,
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<br /> . - - IPagr2rf4pdgrsl _ _ .
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