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<br /> � �t. ���p�t�lriui�l,I�lee�eat aM La1e CM�r� Barrower s6�it pa�r�vMee due the priarcipd o�aid i�rtrest on,
<br /> � - tbe deM evidenoed bS►the Nate a�ld Wr ch�r�es due.wsder tl�e Nac , � < . .
<br /> � Z. �M�r!!J�!e�b ot'11�xa,Lwra■e�aid Ot�p'C�les. 8amwee abail inciude in each atooWy psymen�•
<br /> , toadher witA tbe pnn�p�{aad interest as set farth io tLe 1Vots��iate�� "��of�oy(s)taxes aad
<br /> ' specia{assessinents kviett ar w be tevied ag�nst the Prope�ty. ts or Rnts aa We Fioparty.aod
<br /> (c)Priemiurt�s tix in�aanca iequi�al bY Pa�aBraph 4. .
<br /> g,ach maNhiy insaltment fa i�eans.(a).tb}aad(c)�shail equal one-twelfth af the aenuai sunouafs.ai iruambty .
<br /> - -------- . _�by I�endet,pfus au amow�saffieknt ta ma�aia aa ad�tioe�t b�nce of t�at awne tban ano-siath of the _
<br /> - atinatd�amounts. Tbe fuil�onu�l amouat far each iteat shatt 6e accomutaoed by Irendet within.a period endinE me
<br /> monlh be6n�e an item would becu�a�e deWquent I.ender shaU hold tLe m�o�mts co0cefod in uust to pay ite9ns(�).(b)a�1
<br /> —_ ' �e)befae tbey bxome delin4ueat- �
<br /> - = It at�►y time the wnt oi t6e ps�beW by Leader for items(a).N3 and tc). r avh the fiituoe mo�u6ly
<br />.:� p�ymdrs for auc6 alems pRyabte w pciar m�he due�d�oes of_sucA items.ex�moae t6an aoe-sixth tbe .
<br />= p�m�a�riwnt of paytnents roquued wp�y such items when due.��Pa. tltie excass over one-sixc�� . . .
<br /> - . s1�I1 eit6er cefimd ihe wcass Qver ane=sucth`of the estima�od payments
<br /> P�Y!����P�Y����°"'�•���P�►of Bor�awer. ]f the taal af the psyments made 6S►Bumowe*
<br /> for tum(s�!b or(c)�s uisuffic�r�t to pay tt�e ium w6�n due.then Baerower sdall pay to Lender 9►y amaiot neoasa�►to --
<br /> maict up'd�c de�eacy on a 6efote the da�e the ium booanes due. � = �
<br /> As used in tbis Security In�u�a�w"�Y"�s the Secnet�Y of Housing and U�ban Devetopment or his oc lkr
<br /> : `desi�. Tn arry y�t in which the Let�det must pa�a rno�tg,age insunnvc pemium m the Sa�etary.each monthlY WY�� _=_
<br /> §hall also u�clude efther: (i)an iastaltrpent of the annual mort8a8e ins�ua�e P�'�m�um to be paid 6y Lender to ths --
<br />. Sect�ta�y.or�)a maathty charge iartead of a mortgage insurance pemium if this Security Inswment is heW by the ____-
<br /> Sectetary. Fach monthly iastallment of tbe maitgsge inaaance p�emium s1�aU be in aa amount:sufficient to acc�mWate the =_--_...
<br /> - fuft aonual mortgpgt insurance pranium with Lender one month pnor to the date the fuU annual mactgage�m�su i�e �:�:{�_--�
<br /> - pn�nimn is due to the Saroetary;or if this Security In�tnuaent is hetd b}r tbe�ectetary e�ch monthty eda�8e M,ti�,-_=
<br />' �unamt eqwtl to mo-twelRh of aae-hatf pemat ofr tda au�tu�n8 Pnnc�Pal b�ance duc on the Nute. . �'°-`-
<br /> ��
<br /> r� If Baruwer tCxfers w Lender the full payma�t of all sams sav�ed fiy this Securiry In.mument,Bormwer's accAUnt ---�_
<br /> , - , shaU 6e c�edited with tl�e batartce remaining for all tnstaltcaents for items(a1.(b)and{c}and any mortgs$e in.wtance "';,�:—�-.
<br /> w.. ..
<br /> �remium insWLnent that Lender has not become abGgated to pay to the Scecetary.and Lender shali pcamPtiY nfund any �;•�'-
<br />�- excess fund4 to Bomower. Immediately priar to a foneclosutie sale of ihe Propetty or its acquisition by t.cnekr.Hormwer?�
<br /> - � for all i�staliments fa�iteias(a)tb)and te). - - �` _ -
<br />. _ ` � . account shall be credited with any balance remauung • . ;.
<br /> , 3: Applicatioo ot Paymeat�.All payments uuder Paragraphs 1 and 2 shall be applied Iry L.ender as�ollows: � , ; _:�
<br /> _ .;� ,- .. , �.. ._,.- —
<br /> • � . ` �$y to the mo�tgage insurance pcemium to be paid by Lender to the Secretary or to the monthly charge by the . _
<br /> ��. . . :. �- ; :-
<br /> ,'-r ,:;:., . . � Sec�tary i n s t e a d o f t h e m anthiy mortgage insut�ance premium. �. t.;,L:�
<br /> =�._,... , . ,.,_
<br /> ` .�,�;:�;:;,�,''.. . .� SECOND to any taxes,special assessmeats,leasehold payments or ground rentc,and firc,ftood and ott�er hazard - , -z•--
<br /> � "'��' .insurance p�mi�uns.as raiaired: w::� ''_
<br /> �to mtecest due undec the Not� � 'h
<br /> :�,�, .
<br /> • . ',�'. `:� �,to amortization of the princi�al of the Note: -•�' '�:r_,._
<br /> '�' ,� '. �,to laie charges dtK under the Note. , . . ``".
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<br /> 4. Firti Fload aed Other Hnzard Inwranca Bomawer shali insur+e all improvemenis on the Property.wt�ether now _ .,t__--,:�`�
<br /> - ., -t�� ";- ` ., ,.
<br /> ° -,,����r r'S�.. . in existet�ce or snbsequently erected.against any hazards.casualties.and wntingencies.includis�g fire,for whici►i:cnder - -�
<br />` �-��Y;-:=_,?�=' ' r�quiies u�surance. This iasurance shail be maintained in the am�nts and for the periods that i.ender cequtres. Boimwer - �w:
<br /> , �:c�_,.1 'rir'„",' shail also insure all impmvements on the Property.whether now N existence or subsequently erected.a�ainst loss by floods , :'��+�
<br /> ��°,"�='::� ,'.` . to the eatent required b the Secretary. All insurance shall 6e carried with compames Approved by l.ender. Tde insurence , '.i f
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<br /> =-:'-'�''�.�:��':' po licies an d any renew a ls s ha l l b e h e l d b y l.e n d e r an d s h a l l i n c t u d e l o ss p a y able elauses in favor of. and in a fortn .. �=�=
<br /> ` ; ,. • acceptable to,l.ender. . ' :
<br /> ��;-;�i� In the event of loss,Barronver shall give Lender immediate notice by mail. l.ender may make pcoof of loss if not -
<br /> .,,:._.
<br /> -�,;:,, `r_ r{ �. - made promptly by Borrowec Each ias�ranoe company ooncemed is hereby authoriud and directed to make payment for ,,:.�
<br /> . �_ct�;�`�r�,�``5 . � `auch loss dlrectly to l,ender,instead of to Bo7e�ower and to Lcnder jaintly. AI!or any part of the insurance praceeds may be . ��,+:;_�-_
<br /> 'T�f��}�;�;-� app2'sed by l.ender,at its option.either(a)ta the reduction of the indebtedness under the Note and this Secunty insuumen� .;, r_
<br /> ,.,.,Y_,..:. :. .' fr.�Eo any delu�uent amounts�applied in the order in Paragraph 3.and then to prepayment of principal,or(b)to tha �%�•r r:,, u �s
<br /> ' ' ' • ' res�+�ion or�r of the damaged property. Any application ot the praceeds to the princtpal shall not extend or postpane ;•;`t'�` "_;
<br /> �� ..,' ' '�. '.
<br /> ' :, ?�.,� •;, the due date o�s�manthiy payments whtcb are referred to in Paragraph 2,or change the amount af such payments: Airy ; .�,
<br /> ' � "` :5s:%��'���`• _ _ excess insura.tice�soceecis aver an amoum required to pay aU ou�standier,g indebtedness under the Note and ihis Security •-_
<br /> Z..,r s:r.��T i� •�
<br />, ���f' � j��;-,.�..;••= ' � , Instrument shatF'be paid to the entit fegally entitled thereto. •
<br /> In the event of foreciosure o this 5ecuri lnstrumera or other trAnsfet of titJe to the Pro rty thae eatin ishes the � , �
<br /> p' ' ... }� ty Pe gu . �__�~
<br /> f, indebtedness,all r3ght,title and as�terest of Barrower in andra insurance policics in far�x s3�a11 pass to the purchaser. ,,� �-
<br /> � r;F � � S. Occupancy, Preservat7on+ Maintenance And ��oteetion of the Proper�:�Barrower's laan Application;'_ �`;,r,
<br /> . ��`� �"�•° I,�eholds. $onower shall ocCUpy,establish,and use th�1�'opc�y as Sorrnwer�p:icn�ipal residence within sixty days __
<br />. . .tT:.: Y:1 ��•_ ' "__
<br /> �•w�-'�:': •:_,; ;. after the execution of this Security Instrumeat and shall eontinue ta accupy.the Proprrty ac Honower�principal residence � �
<br /> �� '� � ' for at feast ona year after the date of accupancy,unless ths Secretary determ�nes this teyu�rement will cuuse unQue hardship "� •
<br /> . . ��;�:�'.-•.,�_ ,
<br /> . • � for Borrower:or untess eatenuating circutristances exisi which are beyond Borrowerti controt. �ortower shaU notify .
<br /> ;, : ' � Lenders of any extenuating circumstances, Horrower sha9!nat commit wacte or dcstroy.damage or substantiaUy change ,
<br /> • ' ' t14e#'mperty or altow the Property to detcriorate.reasona�7�we:rr and tear exccptc�. Lendcr may�nspect the Pi�perty if thc
<br /> � . '��, Ptr�o�erty is vacant or abandoned or the loan is in default. Lender may takc rcasonable uction to pratect and prescrve such
<br /> � vaeant or abandoned PropeAy. Borrawer shall also be in default ii Barruwer,during the toan applicatinn pracess.gave
<br /> � • materially falsc ar in�ccurate lnfoimution dr statcmcntw ta i.cndcr (or falted ta pn�vide Lcnder with any matena) • •
<br /> ;;� ;, i�omrat�on)in connectton wlth thc loan evid��nced by thc N��tr.inctuding.but no!lim�ted to.represcntatlons canceming . � •
<br /> `'�,';`e:�,,';;,:,�' . Bonawer's occupancy of the Property as u pdncipal residence. If this 5ecuriry Instrument i.c un a Ieavehnld.Barrower shal! �. :
<br /> . . .;;:�:;;z�:',, � compty with the pravlsionss af thc lcasc. tf Hvnuwcr acyuires fee ttilc to thc PraperEy.thc Ic:nchold und fec titic shatl nat j
<br /> �'�.:5`'!:':;" ' ` be merged unless Lender agree�to the merger yn�vriting. t •
<br /> • ����-�''��� 6. Cha to Bo�ruwer and Pratection of l.ender's�Ri hty in the Pro rt Borrowcr xhull all ovemmental �
<br /> ; lxeg It ,• Pe 3= PaY S , j _
<br /> • � or municlpal cbarges,�nes and imposition�chat are not includcd m Pua�*raph 2. gorrower shall pay these ob}�gutians on �
<br /> A �'�� timc dirccdy to thc entity which is awed atec paymcnt. lf f�ilure tn p�+y wauld advcr�ciy s+ffcct L.adcr�intcrc�t in the � �
<br /> � '�; "•��• • Ptaperty,upon Lender's requeae$onower xhall pramptiy furnish t�L.cnder reccipts evidencing thesr paymeats. � , �
<br /> . r� . •-'; ..' if Hoaawer faits to m�tce these payments or the pa}�ents reyuircd by Puragraph 2.ur fails to perFortn any othcr [
<br /> '� ' � .�� cm�enants and agrcements cont:sined in this Se�urity ln+srr:�^zent,nr thcrc i�a Icgul pruree�ing that may significvntty nffect ` �
<br /> ', .'' ` - ,' ' Lender's tlghts in the Property(such as a pracecding in banktuptcy.fnr candemnatian or to enfnrre 1'aws ur resulvti�ns), � .
<br /> � .. �..:�_ .___..., •. than Lender may do and pay whatevcr i�necessary to protect the valuc of the f'rupetty:u�d Lender's rightti in the F�roperry. 7
<br /> � . . including payment of t:u�cs.6:�:ud msu�vnre�nd nihcr items mcminned in Paragraph 2. ; .
<br /> ' �_ '��_ • . ' My amounts disbursed by Lendcr under ihis f�.u�a�raph shali becnmc an:uld�ttanal debt of 8nrrower�nJ be secured ' .
<br /> °�-- • '� by thls 5eciuity Insttument. These:unuunts sh�ll Mear�nterest from the date af disbursement.••rt the(Vatc rate.•md:►t thc `
<br /> � ' optinn of Lendcr.shall be immrdi�tcly due vnd payabte. �• .
<br /> " 7 Coudemnatioa. 'fhe praceeds of any award nr riaim f�r dama�e�.direct��r�nn.sequenii,l,in c�nnectiUn with:uty �
<br /> � • ,.'. . condemnndon or other taking of any part of the Property.or fiu cunvey:+ncr in pl�rc nf candrmn:�tinn,s�rrc hcrcby atisigncd :
<br /> c
<br /> • and shall be paid to Lender tn the eatent vf tMe full vtnount of the indebtednc�.c th�t rem�ins unp�td.undcr thr N��tc:md thi� � , �
<br /> � - -°-= --'_=-°---- � -Secnrityl�strumerrt. Lenderstraliap�siysu�9tirtcxeedstath�s�:ducsicx►o8thsindcbtcdne.csundersl�.Ne�tesueelthisc5ecerity:. _ t._._- _.__�.._____
<br /> • Insuument. first to any delinyuent sunounts applied in thc order provided in �"aragtaph 3. :u�d then tn pm�rayment c�f !. •
<br /> , , ' principal. My appticatian ot thc proceeds t�the pdnrip�l shal►nnt extend or postyame thr dur date uf 1ha manthiy • �
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