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<br /> 3. P��neN ot Prjeciptl,Lhrest aied l.ate CMac�a Bom�wer shall p3y when due tt�e principal of,and'uuerest oo.
<br /> � - the de��t evidaticed by the Not�and tate charges du�.under the Nae. • .
<br /> ` L 1Na�tWY W3'�ats ot Taaes.Iast�nnce�d Other Charges. Boirower sha!l�inctude in eacb montbty paymem.
<br /> _ , together with t6e pnncipal and�nterest as set fonh it�t#ie l�iooe and any Iate charges.an ttsstailment of.any(a)taxes a�i �
<br /> _=,.,� speciaf assessments tevied or to be tevied agaia5tthe Proga[y.tbl-teasehotd paymene+or gcound renu on the Pcopeity,and
<br /> - °..� (c)poemiums for insurance required by Pdragr¢ph.�- •
<br /> ---^-s=� - Each monthly instaltmeat for items.taj.[b)•anc{,(c)shall�quat one-twelfth of ti�e annual amamts.as reasonably
<br /> -- --- -� es�nated by.Isader. gtus an amount suff cient ta maintain an additia2at batance of not mare than ane-sixth,Qf the _ __ �`
<br /> estimated amounts. Tiie full�armnai amou»R�or,eacts item shalt be accumuTated'by ixoder vv�tAin a periaf endiag onc �
<br /> - �=� , month 6efore an item woutd become deUir�quent..,i.epder shalt hold the amaunts coliec[ed en trust to pa�items(a},(b)and -_- -
<br /> " - ` (c3 befar they become delinquent �.�---
<br /> �`; If at any dme the twat of tlie payments he1�f t�y Lendet for items(a}�{b)and,(c).cogethec witL�he fucy�e�nonthly ___-
<br /> ts for such items xabte to Lender �`---
<br /> . . �� pa prtg;,�o the due dates of sucb items,exceeds by moee thaaa oue-sixth.the: __
<br />�_�� �;�:- estunated amo�nt of papmenls�equired tvpag suct,�_�terrt�wI�en due,a�i if paymeats an tLe Note ace cutrent,thea I.endac . `^
<br /> .s�.� shap eithet refund the excess over oae-sia d t.o f t h 4�',�stitr,y�T e d paYmen t s or credit tbe excess ovet one-six�h ot the estim�t�l . �_ -
<br /> paymetits to sabsequent payments by Botsnwer;at the option oi 8orrower. If the total of thc paymenu tna¢e by Bortawer e�-�— -
<br /> far nem tay.(b).or tc)�s�nsufticierst to pa�r the;item wtie�t due.then Bomower shall pay to l.ender an�amou.r►t�ecessaty ca... _f --.�`-` -
<br /> make up the deficiencY an or befor�ttx daF?.4�e item becomes due. ��'-` -�._-
<br /> � �• As usgd in ihis Security.Iasmtmeat,"Sersetary„means the Sec�tary uf Housing and lTrban Develppmetu qr bis or l�er;., ���.�"-
<br /> .�� �•�:�, designeg. In tu►X year in wfdch the Lende�;ma5t pay a matgage incurance premium to tl�e Seccetary,exh mat{1b1Y Pal'���.:� ",-��.,,
<br /> . ;' h ' sha�I,a1sq inctude ei� (if an ip��ent of the annual mostgage insurance premium to.be.paid.by.Lender_to.the:.. ;�,
<br /> _ __ ti, � ..- ' Sec[�t�ry.or.(ii�,�mond!�Y:�h�;,uutead of a mortgage insura�x�e premium if ti�s. ,,,Securicy,.ln$mirp�pt�s held bY�. `.;-?-�
<br /> �T S�y.�,Ea�eh.q}4!F�h1Y���I�#�Rt of the mortgage insurance premium shal!be ia ara a�ount sufficien�W accumuiate the _ t :
<br /> '``� -'��• � ���i(e4►H�1�m4f�CFS����e.Prem�um khth Lender oae montfi prior tQ the°�ate,die.fuit annual mortgage insurance : �..3�.
<br /> � or if ihis Security Insttument is held by the,Secret�;each monthly charge shall be in an � ,.., '_
<br /> ���' �'� _ ;•p{�#�FlRl1;�f�!W i{P.�4:e��� due on the Note. -. �-_
<br /> a�ytpK e,qsnt•:tq�ne;targlflh of one-half percent of tAe outstanding princqaal b,�aiic� " �`� _�
<br /> �°' •��-� `�•; . •
<br /> �::,�,, � If�oAOr�ei teqdcts to Lende�the full payrt►ent.of all sums secuted by thiti.Securiry insaumen�Barrower's account �.>.,�._
<br /> .�=��'..��•��-- '�' st�ll be 4'�?�si���t��lance temaining for all�stallments foc items(ab(b)aad(c)and any mortgage insurance .c: _
<br /> :s;, . _�.._ .
<br /> , • piemium instaJlment th2t 1.ef►der has not become o6ligated to pay to the Sectetary.and Lender shall prompUy r�efund any , , _
<br /> $2T
<br /> . ' excess funds to Borrowgr Immediately prior ta a foieclosure sale of the Property or its acqwsition by Lender,Borrower s , �_
<br /> O EC
<br />, .. - --�.:�r:-..` ' . accoemt shaU be cnedited��ich any balaace remaining far.�ll'installmerrts for items(a).tb)and tc). � -- - � +
<br /> . ` . <, - 3. Appl�cqtton ot Paymentv. AIf payments undec Faragraphs 1 and 2 shali t►e applied by l.ender as follaws: • . �;.
<br />� � . . , . • Q�S ,to ihe mottgage insurance premium to 6e paid lay Lendec to the 5ecretary or to the monthly charge by the . . ,
<br /> - -. �' � Secretary instead of thc monthty mortgage in.surance p�mium: � . . :� ,
<br />� - •� . , • S�`,QND•to any.taaes,special assessments,teasehold paymen�c or gcound rents.and fire.itaod and uther hazard • ;
<br /> , ::,�r : . insusancepnemiums,asseqwmd: , .�%'--�'
<br /> �- •. , ��,to�ntesrst du�under the Note: r��
<br /> ':'_`.. � . �,tn asuoizi�auon of the principal of the Note: • . : '` �'"�
<br /> ` , � , r-��.i tdlate ahaiges dae under die Note. � ��°�'-
<br /> ; , . � ._, , . 4, F^�,���(�p Ilaz�,InRUran�e. Bar�ower shall in�sure all improvements on the Ptopetiy,Rheyter now ::_?t:=
<br /> � . - � �. � ' in gxiste�ce arsubseqQentt}ierecteQ.again.5t any hazards.casualties,and contingencies,irtcluding fire,for which Lender .. ;•'�`t!!�=
<br /> irquine�inst!�anc�. This.�n.�p�nce siw!!be maintamed in iheamounts and for the period.S that i.ender requires. Borrower :;;::,,' °. '��'::
<br /> � � s6a11 alsa�insw4.a11 impcovement�.an the.Prope�ty.whether now in existence nr sulneqaently erected,aga�nst[oss by floods +„�: . :���:�. �
<br /> � - . to the,eatent requiTed,by.the,Sec�ctary. All insurance shall be carried with rompanies approved by Lender. The insurance ' - '-
<br /> ' polici�s,and.�y.�newals shap 6e held;by I.ender and shall include loss payable c lauses in favar of,and in a form :
<br /> � . '. ', aeceptabla{o.Lettdei .
<br /> 1n the,event of toss,�aRawes+hal!givc l.ertder immediaie notiee by maii. Lender may make proof.of tos.r•if not ,
<br /> ' ! ma�ie promptly by Borra,wer. Fach insurance compat�y concemed is hereby autharized and directed to make payment fm � . • .�_
<br /> • ,;,�1;�:•;'','�'�'�, such loss directly.ta Lender.%nstcad of to 8orrawer afid w Lender jointly. All or any pari of the insurance procee9�may be . ,._
<br /> '> app lie d by.I.en der.at its aption.ei t her(a)to t hc r e d u c t i o n'o f t h e i n d e b t e d n e s s u n d e r t h e N o t e a n d t h i s S e c u n ty I n s u u m e n� •; _
<br /> _. '-.','.,�;.;:' • firsi ta any„8elinquent amoun�ti applied in the arder jn Paragraph 3.and thew to prepayment of principal.or(b)ta the � _�__
<br /> : . -•,�;,-. ;..': testoratianor�repatt o f t he d amag e d prv p er[y_ An y,a p plicatian af the p rc�cecds to the princ�pal shall nol extend or postpone '���
<br /> :�:.•�;;�.;.:;.;:-::•�;`: the due da[e of the manthly payments whcch are referred to i�ParagraFy 2,ar change the amount of�uch payments. Any . •
<br /> , ' � �'-�? �,,�7;:;.;.• eiccess irssurance ptaeedy aver an amaunt requi;r.Q to p�ay aU auGstanding indcbtednes�under ihe hate and this 5ecurity ' ,� -
<br />' � •�1'��` '� instcument shall he paid ta the entity legally entitled thcreto. •
<br /> ' � ' In the event of foreclosure ot'this Securiry.,lnstrumcnt or other transfer of title ta the Property that extin�tishes the • ,
<br /> � � ` indebtedneys,aA right,titte and intcrest of Barfc►W�r in and ta insurancc policiev in farce yhaU pasr tn the purch3ser. ' .,
<br /> � ' S. Occupancy, Preservation,Mainteaaace and Protection of the Property: Borrowee's l.oao Applicatbn: •.�;` • _
<br /> • ' � ).GSebolds. Borrower shall occupy.e�tublish.�nd u�c the Property as Borrowery principal re+idence within s�xty day� . � •
<br /> ' � a f ter t h e e x e c u t i a n o f t h i s S e c u r i t y l ns t r u m ent�d.yhatl cantinue to�ccu p y the Property�.�Horcowzr�pdncipal residence .
<br /> . far at least one year afeer the date of occupancy,unless the Secretary detennineti thit:requirement w�iil cause und�se hardship �, • �.
<br /> • far Borrower.or untc�ss extenuating circunirtanccs exi,� which �re beyand Borrower's cuntrol. Barrower�6ra11 notify ?
<br /> � L,enders af zs�y extenuating circumstances. Borrawer shall not commit wa+te ur der�roy.dsimage or sub5t:uuially change {
<br /> � the Praperty csr allow the Property to deterioratc.reasonabte wear and tear exccpted. Lrndrr ma�•intipec:t the Ptoperty if the �
<br /> , .' � Qtoperty'is vacant ar abandaned ar t6e I�an is in default. Lender�nuy tuke�ea�unable action tn pratect and preserve such 4
<br /> iacant or abandoned Propctty. Bortowe[shap tQso be in drfautt if Sorrower.auring thc loan appliwtion pr�ccsv.save ;
<br /> rnateri�H� ialse or inaccurate inforn�ation or �tatements w Lender (ar failed tc� }1fOYIdC l,.ender with any m3terial ; .
<br /> ' infnrmanon)in connection with Ihe loan evidenced by the Nnte.i�cluding.but not limUed ta,repmsentationy s:anceming ;
<br /> • • Bonower w occupancy of thc Pr�pe�rty a�a principal resid�.mce. lf thi.Securuy 1n.trumenl is on a leatirhold,Borrower+haU � ,
<br /> . � ' , comply with tihe prav�s�nns nt'the tcacc. ]f Bo�rowcr aryuirrs fcc tiUc to tho i'roperty.thc tca�chofd qmd fce titic 4ha11 nut
<br /> � : 6c raerged urs[ess Lender agrces tn the merger in writing. '
<br /> � `" � j 6 Chuges to&�rruwer and PrMectism at l.�rtder's Itights in the 1'cuperly. Bnrrawer shatl pay:�II govcmmental � . .
<br /> or municipal charges,finns�nd impositivnr that:vc n�t inciudcd in 3�aragruph 2. t3unowcr shafl pxy thc,o c�hbgwtiuns��u
<br /> timt dimcKly to the cntity which i��wcd the paymcnt. tf Etsiturr tu pay a-auld advcr�cly�ffect l.cncirr's interest in the
<br /> ' • °Propeny.upon Lendcr�rcyucti!gurruwcr shall prompity fumish tc�l.cndcr rcccipt.cviJencing thc�e paymrnss.
<br /> � If Borrowcr Puils tn make the�c paymcnts ur thc paymcr.t.ru�':ircJ by I'urugraph 2.or fzi{�to perG�rm any other , .
<br />• � covens�nts:utd agreements caniaincd in tH�v 5c��urity Instrument.e�r tE:�::c i�a Irgul pr�xerditt�:tha�may signifir:u�tly affe��t ,
<br /> sn `
<br /> � ' . Lendes's rishts in ihe Propetly lyuch ati a pra:eedin�in bankruptcy,f��r c�mdemnatwn��r to er.t;�:ce laux ar rr�ulations), �
<br />' � � then l.ender may dn and pay whatevcr is nece�tiary�o protert thr valuc�F the I'ruperty and trnder's ti�±hss in the Proprtty. , •
<br /> . - - inciudingyayment�f rax��.Mu:ud in�u�n�v�and athcr rerstix snrntu+nr�i in Paragruph 2. � _
<br /> � . ' ' My amaunts disbur�cd by l.ender under this P�:rsgr�ph tih:�ll becume an adddwnal debt�f gun�wcr and be sccurcd ,
<br /> . ' by this Security instrument. 7'hese runounts sfiall hear intenst fs�im�he date af dishursemenl.�t thc Nvtc rate.:u�d at the . .
<br /> • optiun df Lendec.shal!be immediately due su�d payubte. �
<br /> . 7. Coedcmeadnm '!'he praeeds of any�wtvd ur ctaim fandarn�ges.�iircct ur c�nscyucntiat,in connection with:�ny .
<br /> condemnation oF dther taking of:utiy p:�rt of thc i'roperty.or for c�nveyunce in plucc oi condemnalian.:vc hcrelsy stisi mrd
<br /> • anci shalt be paid to Lender to the extent uf Ihc full amnunt ot'the indcbtednezti that rcm�im unpaid undcr the Notc an�thi�
<br /> � Serurity inctn�ment. 1.ender sh•rl!apQly such proceeds tv the rrduciiUn of the indebte�lncss wid�:r thc Nvte and this Security , �
<br />- =----=--_:--_----_--=-.-- - - --- - -- -= ---_. _..
<br /> lnstrumen4 Pvst tn:my delir�quent :unount�appGed in thc ordcr provided i»P:ire�rapii 3. :uid thcn «+ prepaymrrtt
<br /> - - _ .
<br /> __�_ : prin�tip�l. My applicvNnn of the prex:ceds W the princip;il ytwll n�i cxtcnd or}wstpunr thc duc date uf the monttily .
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