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<br /> ��' � _ . . �(• . : _ tf C r _ -. . .. - . . _ _ _ _ . �.. -
<br /> �'�.. . • . � , . . j ' ' " _ _ _. . ` . � �.—. .... .__
<br /> ��t �� t' _ " - - � ___-_ -__ _-- _ --� .-����� .___ —.__ . :.. .—. . . . -__— " _ ---- —
<br /> -- — . . ` , � - � 92- 1oi51� :
<br /> —� �. pl��c otPrL�cipal,tseetest aad i.�te!ELar�a soimwer st�u pa�w6en duc tLe piincipal o�ana inra�t on. �
<br /> _��"�� die debt tviden�ed by the Notc aad late charges duc under the Nou.
<br /> �:A,�����": • •2. Mant6lp P!Ywents d 71aes.I�au�ace and OtLer���r�e�. 8o�nwer shail iaclude ia eacb montLlY PaY�� --
<br /> _:ti — - -,��',- wgetGer vritI�the prmcip�I and iMezest as sec faRh In the Nate andany lata,ci�arges.an installaknt af anY(a?�� �,�__-
<br /> _ - :;�. spocial ass�ments kvied or to be[cvied a�gainsc the Pl�apetty.(b)leaselwld payments ur gcoutt�!rents on the�ope�tY.and �:=---
<br /> —` -' (c)PnemIums for 6uuranee'�equind by ParaSraPh 4• � � �''�''"�'°'——
<br /> � " t�" =�� Fach aea�tEBg installment.for items (a?,(b?�d(c)shall equsl oae-tweiflh of tlie aapuat amounts.as ttasonably �'Y .� Y.�
<br /> °,� �� estnnated by i.ende�. ptus an amount�sufficient w maint�in an add�tional Daluue of not awt�than oae-siuth o�the , . �.-- �_
<br /> . �*���` , �• estimated�ts. The futt annnal amaunt far each item shali be accairiuladed by Lender within a period ending�ne _
<br /> - `�`"`;�'� . .�: manth befurc an item wouW 6ecame delinquer►t Lender s1�1)hold the mnonnts wNected irt an�t to pay itcm.c(a).lb)and '�.rt-°�-=�
<br /> �`�:°; `� : icl6etore they 6eccHne deti uen�. �' �'��
<br /> -�.�. � =: .�'•• .�_�
<br /> . <:..a U at ainy time t h e ta[a f o f t h e p�y m e n t s h e l d h y L e n d e r!a t i t e m s(a).[h)m t d(c).together with tix futurr mont6ly . . �,:����--
<br /> � `::;r�u-..;.�_—
<br /> QaYmeM.g fas such items payable to Ls�er ptic�to the due d�tts oP such items:exc e e Q s bg mart than oae-siath the ,:_..��'��+�`
<br /> - �-�..�= , " estimated amouat of paymrnts required topay such icetns when due.and if PaYtne!!GS on tlte Noee are enrrent.ti�ert teader ;`- :�•.,.- _
<br /> ,.�- �•. _: ._
<br /> `� -*��� sUaU either isfund the eacess over one�sixth of the esumated payments or ciedit�tlie excess over w�e-siath of the estimated ��.
<br /> �.,:;._;' �� � _ � ��`:�' �•:
<br /> payments to subscquent paymrn��by Bo�rower.at the option of 8ormwer. If the eaal of the payments made by Barrower �:•. ��`';;'�,'.
<br /> � "`='- - °-� - ` fpr iu�u ta�@).or(c)is msufficient w pay t6e ium wficn due.then 8omuwer shall pay to Lenda any amaunt oecessary to ,ti � ,r.�;:
<br /> �;- - __ , m�tCe�the deficiency on or befora the dau the item 6ecomes due: �����'�
<br /> 'r�-,.�'.:�'`,y y:�,:;�._:.��y.' .1.� .
<br /> � � A s u s e d i n t h i s S e c a ri t y I n s m m�e n t."S a i e t a r Y"m e a n s ttie Secre t a ry of Hoasin gand 1Jfian Devetopiuertt ar his or ha :����:�:'
<br /> � ' des;gnee, In any year in which the I.ender must pay a mortgage insur�ae premium to the Soc�etary.each mon t h tY paymeot �,�,.�.;
<br /> . , , sUall also include either: (i) an instaltment of.thc a�uwai martgage insurance premium to be paid by Lender to•t[te` �. ` �:� ,_.�---:—°-
<br /> �._,,.!..��-•
<br /> . ' Seccetuy,or tii?a maathly charge instead af a mortgage insurance paemiwn if this Security Inswment is held by she . . ��_�°"���-
<br /> ` ._ � Secmtary. Fach monthty installment of the mortgage insuraace premium shall be in an amount sufficient to accumutate the ` - --
<br /> ' • : - .� � falt aonoal mortgage insurance premium with Lenda one month priar to the date the fu11 annual mortgage insurance . —
<br /> , . . premium is due to the S�ary:or if tlus S�c�ity�uu�t is held by tl�C Secretary.e�h monthly charge shaIl6e in an ';,,:,-t...,-Y--
<br /> � � amount equal ta oae-twelfth of one-haif peroent of the outstanding prinapal batar�ce due an the Nae- �:;:,,:•.:� :.._-_
<br /> .. ' . If Borrower tenikrs to E.ender the full payment of all sums secured by thts Sccurity Instrument,Borrower's account i�•�;n'f; �::=
<br /> � � shal!be c�sdited with the balance mmaining for all installments for iterus(a).(b)and (c)and�tsiortgage insurance i.:�:L`-:=,-,: . ;--=�R—
<br />• - ` . preroium fistalhr►ent that Lender has norb���e obligated to pay to the Secretary.and I.ender s�:rn gi*omptly refund any t.�,:;;t;lt. :'�_�
<br /> tr:�. ,
<br /> . � ...._ .�_...._.� excess fm�tu Sotrowec. tmmed'eatety prsda;to•a fareclosuce sale of the Ptaperty ar its acquisitia:�?�.�nder,Bosmwer s . �:;;;�;'�': .. _��;-�
<br /> • � accatmt shall be crcdited with any balance seataining far ap installments far items(a).(b)and(c� •` • �--
<br /> ' ' 3,Applip�tion of Y� ats. All E�nents under Para hs 1 and 2 shall be a lied b L�d�,a5 follows: r `
<br /> . yme P�.; �P PP Y . ,7;� .
<br /> � � F�RST.to t[ie mongage tnsurance Q:�rtcuin.to 1�e Paid try Lender to the Secretary or to the man��}charge by ihe `'�_,,t ,
<br /> < r. Secretary ingtead of the monthly mo�age insurance premmm: • � . •ji P�y .::
<br /> . �Q�jg,ia aag taaes.special assessmenls.leasehold payments or grouad rents.and fire,fln�and otper hazard ' � , ':{ -
<br /> � i �'- � 7(,. F.
<br /> „ II1.411T�7fICC�1[CITIIIIlIISr AS TC�]Ulf2� .:<.. ,v
<br /> 7'��IRD•to mterest due under ihe Not�; � ;�f,'
<br /> . : FouRrH.to amortizatian af the psin�ipa!of the Note: •�` _
<br /> ..��;.:� . �,w late charges due under t��14ote. _ `'�°t�.
<br /> • •� � 4, F i s e,F l o o d a a d O t h e r H a z a sd Insuranoe. �orrower shaii iruure a1i improvements on the Property.whether now � � .-';..�;t'.,,:�
<br /> � `. � in exi.gtence or subs�uently erected.againn any.har.ards.casuaities.and contingencies.inc iu ding f ire.for w h ic h L e n der ,t�':. .�
<br /> ' • requires insurance. 1'his insurance sha116e maintained in the amounts and for the periods that i.ender requires. Borrower .
<br /> s � shall atso insure al!improvements on the Property.whether now in existence or sub.sequently erected against toss by floods � :. •
<br /> ' � �, to the e�ctent requi:ed by the Secretary. A11 insumnce shall be carried with companies approved by l.ender. The insurance j � ;:.,_, �`
<br /> >` •`;�.;; policies and any renewals shall be held by.Lender and shall include Soss payable clauses in favor of.and in a fom� ! ;'��,fi
<br />. . ,,. acceptab2e to.Lender. ,.�'�':.;��,�� .
<br /> ' i»the evcnt of loss.Borrow�er shall give L.cndcr immediate natice by mail. Lettder may make praof of loss if not � ;�:;,:%�::;'--
<br /> f. •. .�.;•,...., ::^
<br /> ,, made pmmptty by Barrawer. Fach ia►surance campany cancemed is heteby authorized and directed ta make payment far � :,.:'�/,. �,,,:,..., , _
<br /> • . ' such lacs directiy to l.ender.in.�tead of to Borrawer and tn Lender jointly. All ar any p:.rt of the insurance proceeds may be � •
<br /> • � . � . apptied by(.ender.at i�c aption.either(al:to the reduction of the indebtedness undec the�ate and this Scrurit Instrument. � ��•������:��•' f••��''• .=�
<br /> - , y f,.,�.,,,:.,�:_
<br /> � '��•- �•::�'t. �rst to any de2inqucnt amounts appleed in thc order in Paragraph 3.aad then ta prepayme��6f principal.or(b)to the �'�,�`� . .;• 1'.:.
<br /> � • restontion ar repair of tne damaged prop�.�rty. Any applicatian of th;,gr.ocecds to the princ�pai shaiJ not extend or postpane 4 • '�::•�..;; ;
<br /> the dne date of the monthly paymentaµhtch are re(erred tu in Para�rap5 2,or change ihe amount of sucb payments. My
<br /> . '.:�'''•� ' . excess insurance praceed�s over an amount required to pa��all ous.ti[anding indebteciness under ah�Nate and this Security � ,
<br /> � • � ' Instrument shall be paid to thc cntity legalty entitted thcreto. !
<br /> . � � In the event oi foceclosure of thic Security]nstrument or othcr transier of[itle to the Pn��erty that extinguishes the f �
<br /> � � ` indebtednesti.nU right.title und iaterest pf Bnrrnwer in and to insurance palicie�in force shall pac4 Co the purchaser. ; . � �-,,:
<br /> � � 5. Occup�ncy, Preservatlao. 4f�intenance and Pratertion of the Pr�perty: Bono�er's Lo�n Applkatioo; f • r,i����';;1
<br /> � • `' ].ea�eholQ,4. Borrowcc shall accupy.establi�h,�nd u�c the PropcAy as a��rrawerz pancipa3 c.sidence within sixty days � �;;�,,
<br /> • after the execution of this Security instrument�nd sha11 continuc t�>cucupy the Propeny a.c B�ttawcr's pdncipal residencc l ''` �
<br /> . •�� r , �for at leasE one year aFter the date�t��ccupancy,unicss thr Scarrtury determinex►hi�reyuvement will cau.re undue hurdvhip f
<br /> . •��:. .
<br /> ' �. for�Horrower.m untess extenuatinn circurtirinnces exi.rt which ure heynnd Borrouerc caniroL 8orrower sha11 natify j � ;
<br /> • L'endc'rs of pny eatenuating circumstanc�:. Harrower sh�ll not cammit waste or dc•tro}�.dama�e or sutxtAntiAlly change
<br /> � � the{'roperty�r allbw the Property to dete,^:orate.reasonahle wcar and tcar exccpted, l.cr.der r�a}�:r•pect ihe Property if the � �;'`,:.•.
<br /> p�operly.ia vacant ar s�bandaned or the I+:an is in defautt. Lend��r a�uy I:il:e rea�ona�f�acti�n u•protece:�nd preserve such ;
<br /> •, , , vacanc�ar�abandtrrtcd Property. Borroa�er yh.ill afc�i tx; in�icfs►uil ii'8onowcr,d�.::.g the laa.�application proccss,gavc 4
<br /> materiatty.�t'suse or inacruratc informatic�n or titatemcnt� ta l.cnder for failed ta provide I.ender with any materisi
<br /> � informationl�in c�nnection with the luace���idcnced hy thr N��te.iuciuding,hut nat limited ta,rcpresentationx concrining ;
<br /> Bbrrovrer's oecupsnry nf�he I'roperty a.;��rincip�l residence. If ihi�Seeuritv lntitn�ment is un�fc�;ehold.A��rrower rhall �
<br /> � • �' � comp3j�.witli�tNe pravisinns nf thc Ica�c, jt Hoa��wer acyuireti fcc tettt�c�thc Propcny,thc lca.chotd and fee tide+hall nnt
<br /> , be merged?unf3ss Lendcr agrecs to thc mergcr,in writing. •
<br /> 6 Cfi Cs tn Iiorrower and Prutecli��n ot l.ender'w tti�;hts ia tNe Property. g�m�wcr�hall puy a11 guvemmantal
<br /> „ �C
<br /> � or municipa)charges.fincti zmd imp��.ri�ions that arc not includcd in�:i�ugr.iph 2. B��trowcr tihall pay�hc�c��Nl�g;�tiany un
<br /> ' ' time ditectly'W Ihe entity which iti owed Ihc puyme�U. li faiture t��pay wnu1J adver.cly :�ffcet l.endet4 intcrcxt in thc ,
<br /> - � i'rapedy.upon 4enscr v rcyucst Horc��wer�hall promptly fumitih tu Lender rrccipty evideru:ing�hrsc paymcnis. .
<br /> � : ' ' 1J Hdrrnwnr fnily to makc thczc payments or thc paytnents rcyuircd by 1"aragraph 2.ur fail�tu pertomt any��thcr •
<br /> . covenants and agreemrnt�:cuntained in thi�Srcurity Instrununt.ar Ihcre is;�Iegai procrcviing Ihat may�i�nif cantly affrct
<br /> • Lender's•righls in the Property(such as a prucecding in h:mkroptcy,for candrmnatu�n��r ta cnfi,nc lawti ur rcgutatiun,). •
<br /> - - � then Lender m�y da and{ray wh�tevrr is nccescary to prcrtect thc valn��+f the Praperty and Lendcr�rikht�in thr{'rEqx rty.
<br /> includingpaymentof taxe�.h�7rd insur.u�rc and othcr itrms mrnfianrJ in Paragrvph 2. �
<br /> - ' M�amounts dishursed by l.ender undcr thiv Psir.��,raph s}r�ll bccume an aJditional debt nf Hormwcr and bc.erurrd
<br /> ' • . by this Sec�ity lnsttument. 't'hesc:smoums shall t�e:v�nterest fr��m ihc datr of disbuntmcnl.ut fhe Nutc tate,:utd at thc ,
<br /> , �i`�,��. option of Lender.shall be immediatrty c�ne and payabie. .
<br /> j ' � ''��`� 7. Condemnatiom 7`fte praceeQs of any uw;ud or claim fur damages,direct or c�mseyucntial,in ccmnrcdun�vith sny .
<br /> . '�%'''�:, ; : ,,�;,� h Acrt3+.or.for cnnvc ancc irt y. �
<br /> ,..:,:_..-., ., ,, cnndemnatidn or other taking af any parl of t c t'ra y plac�r nf cnndemnati�m.:+n hereb .�tisis�ncd ,
<br /> -__--:-. ��.:���.__,�;.':-'.���;,� - �slnti be paid!a l.e�tdet tc:.lhe.etcs�t of tltc f�itt:�me�mt�f Ihe inale6trclne.tis thaf remnins unpaid unJcr thc Svetc�nd thi. ---- -- -- - - -
<br /> • - Ser.urity Instrumert. Lettder shall apply such pn�ceeds tu the rcductian of�he indcbtednrss unc�ci the Notr:inif this Securii} , ,
<br /> � � '�:'��� tnshumcnt. fifst ta:�ny.detinquent amounts upplicd in ihc nrder ptnvided in t�,�r�graph 3. und thcn to pcepaymcnl ��f
<br /> . princlpal. Any ayplicauan of the proceeds ta the princip�al shal! not extend or p�stpune the due date��f the monthly . . •
<br /> r • i.
<br /> , - - --- -- — (p�RKe:uj4paRea�. _ — - - '
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