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<br /> '} .` 1, p�y ment af priacipal,lnlere�t Aad l.wte l'harRe. Borruwcr shull pay whcn Juc�hc principul of,and intcre.i un, —_
<br /> �� �he debt evidencrd by the Nde ond latc chur�e+due under�hc hotc. �
<br /> � 2. Monthiy p�ymenls ot'Ibxea.InsurAnce ond Other Chary�es. Bortawer shull include in curh manthly puymem,
<br /> "A� �� . together with the principal anJ interc.rt uc set fanh in�hc Note ond uny lute churgeti,;u� intitallment ai any(ul tuxcx und —
<br /> '' , speciul assessme�tc levicd or to bc levied uguinyt the Prupeny,(bllcusehold paymemx or ground nnt�on the Propr:ny,unJ �
<br /> •. . � - � (c)premiums for insarance required by Pcuograph 4.
<br /> . - ' Each monthly instullment far item�(a),(b) und (c) ,hall equul ane-twclf�h oi thc an�uul amount+, ac reuwnably � �
<br /> ',� , estimated by Lender. plus en umount suf6ciem to muin�uin un uJdi�iunul bulunce uf nw mure thun �►n�-+ixth uf tlx • ---- -
<br /> � estimated umounts. The iall nnnual amount ior rACh item +hull be uccumulu�ed by Lender within a period ending une
<br /> � � manth before an item would become delinyuent. I.ende�xhull huld ihe umoun►s cullected in trugt�a pay uem+(ul,lbf urul "
<br /> . _ , �' (c)befae�hey become delinquent. E::�
<br />` � --- i;a�uny ti�ea the total af the payments held by Lencier f�r item�la). Ih► and Ic1, toRether with the future monthly -
<br /> - ,, -
<br /> ' � payments for such itema payable tu Lender prior to the due dntes of such items, exceedti by more thun one•�:�x�h the �_ -
<br /> estimated omouot of pnyment�requ�red to puy such items when due,and if payments:on the Nate ure currem,then Lendcr E"==
<br /> .• sh�ll either refund�he excesti over one•sixth af the extimuted payments ar credit the excess over ane-+ixth of the estimuted �-_..-. __
<br /> paymenta ta subsequent puyments by Borrawer,s�t the option of Borrower. li th�total of the paymentx made by Bom►wer =;-'---
<br /> � for item(a).(bl,or(c)is msufficien�to pay the item when dua,than 9oRawer shAll pay to Lendcr any umuunt necessary to �=�-
<br /> muke up the deficiency on or Ixfore�ha dote the item hecomea dus. "=-—�
<br /> • ; As used in this Security Instrument."Secretary"mo�ns:th�s Secretnry of Hausin�and Urban Development or his ar her "`=- -
<br /> � ' � • designee. I�any.year in which the Lend�r must p�y u mortgage inxuran¢�premium to th�Secretury,euch mcx�thly puymant •"�`''
<br /> �; , ' . ; • '�� shall alsa inuluda eithar. (i) an intitallment af tha annual mortguga insuranuu premium to Ix paid by l.ender�o the ;�t;�-:':.' '"
<br /> Secretary,or(iil a monlhly chsug�in�teud af a mortgnge insumnce premium ii this Security Instrumeot is held by the � _,
<br /> Secretary. Each munthly inxtallment of tha monguge insumnce premium shall be in�n umount suffiriem to�ucumul�ne the �- - _-
<br /> •�' full onnual mortgoge insurrnce premium wiih Lender one momh prior ro thc date the full unnuul m�rtgoge insurance ��i:i'--
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<br /> '':� � premium is du�to the Secretury:or if thic Security Instrument is held by the Secrelury,euch monthly ch:uge shall be in an H;. .,_�
<br /> ' amount eyunl ta one-twelfth of one-half percem of the outs�anding principul balunce due on the Note. , � �•g..:
<br /> If Borrower tenders to Lende�the full payment of All sums secured by�his Security Imtrument,BoROwer ti accoum _
<br /> � ' shall be credited with the bulance mmaining for nll inytullments for itemc la). Ib) und (c) And any morlgaRr insumnce • °'6;f„
<br /> premium installment that Lcnder hati not bccomc obliguted[o puy to the Secretury,and Lender shull promp[ly rcfund:�nY .�;
<br /> excexs fundx to Borrower. Immediately prior to u farecloyure sal�of the Property or its acquisitian by Lender,Borrowers �.,��
<br /> account shull be credited wi�h uny balunce rr.maining for nll installments for items(u),(bl und(c l. -
<br /> 3. Appllcation oi'Payments. All payment,under Porngruph. I und 2 slwll bc upplicd by Lender ar•followti:
<br /> '' FIRST,to the mortgnge insurance prem�um to be puid by Lender to the Secretary or to the monthly churge by the �•�
<br /> • Secret mstcad oF the mnnthly mortgage in,ur,�nce premium: �.
<br /> �Q�,to any tnxes.special axsessmems,lensehold puymentc ar�round rents,and tir�e.flaod und other huzzard � . . w�y
<br /> -;::",•:i;,_---, lnsuren!�r�,remium�.ae reqwred: ._. . �_�•is�.,
<br /> , � THIRD,ro interest dua under tha Note; r' � � '.�'
<br /> FOURTH,to amorlizatian of thc principal of the Note; ' �:�,;
<br /> �,to late char�er due unJ�r the Nolc. � ' 't.�
<br /> 4. Fire.Flood a�d Other Hazard Insurance. Borrowcr shull in.ure ull improvements on the Prapchy,whetM:r now � : t....
<br /> � in existence or subsequendy erected.�guinst uny hur.urdti,cu�ual�ie,,and romingencic,, including fire, ti�r which Lender ; • •+..
<br /> � reyuircs in�urunce. This in�uruncc,hnll Ix maintuined in the umoumr and far the periodti Ihul Lender requi�s. Bortower ;"
<br /> � shull ulso insure all improvementx c�n thc Prupcny,whether now in rxi.tenrc or tiubzcyuendy c�ectcd,againxt loss by flood� '
<br /> to the extent required by the Secretury. Al) inwrance.hvll be rurried with cnmpanie.upproved by LenJer. The intiurance ;
<br /> „ policies und any renewals tih•rll hn c�lJ by l.rndcr •rnd shall includc losx puyable clausex in tuvor of, •rnd in u fom� ,
<br /> acce table to,Lender. '� ��
<br /> � In�he event of lo,s, Borruwer�hull Five Lendrr immediuie natice by mail. Lendcr m•ry make prooi of los,if not � � ` ,�'�
<br /> . made promptly by Borrower. Each in+ursmrc rumpuny ran�crned i.hereby authurind and directed to make payment for
<br /> such loss dimcQy to Lendcr,imteud of to Borrnwcr und tu Lcndrr joinUy. All nr any pun of dic inwr•rix:e praceds may be ., ..-
<br /> ,, Applied by Lender.at its option,either(al tu�he rcdurtion��I'ihr indeMednr+.un�kr the Notr and�hiti Seruriry In�trumenl. ;_;
<br /> first to any delinyuent umuum� opplieJ in the ��rdrr in P�araEraph �, and �hrn i�� prcpaymrm ��(principaL or(bl to the
<br /> �+estorAtion or rep•rir of the Jumagcd pru�xny. Any upplication of thr pnxeeJ�tu th�principul.hull nrn extend or postpone `
<br /> the due date of the monthly payment�whirh arc rcfcrted tu in haraEri►ph 2,�x chan�r thr amaurn of xuch puyments. Any �
<br /> � excesti inxurancc pn�cceJ�over un umount required lo pay ull out�tunding inJeMrdnr.+under thr Note and this Security • �
<br /> Instrument shall he puid tu�hc cntity Irgully rn�itled�hcre���.
<br /> In thr event of fnrcclosure i�f thi.Security Intitrumrm ur rnh�r�ran.t'er ut'iiUe tu thc 1'roExrty Ihut extinguishez the • � • `
<br /> indebtednrss,all righl,tiA�unJ int�rc+t of liorru��rr in:md t��in�uranrr pnlicic. in tiirce�hall pa.,io thr purchaser. ,
<br /> 5. Occupancy, Pretiervatfon. Muinten�nce und i'rot�tion uP the Prapert�•; Burrower's l.oan Applkntion; .
<br /> 4easeholds. Borro�vcr tihall cxcupy.���abli.h. and ux�hr F'ro�xny a. Burtuwer'.�������rul rctiiJ�nrr within xixty duys ; �•�tie•.. �
<br /> ui�er the exerution uf thi,Serurity In.trumrm anJ.hull continue li�occupy Ihc Pro�nrty a. Borrv�wrr:principal resid�nce '
<br /> 1 for nt leus�one yrur utter thc da�c o►�xcupunry.unlr,.Ux Srrnlary drt�rn�iik.thi�rryuiremcnt u•il I ruu.e unduc hard�hip
<br /> for Bornrwer, or unles� extrnuatinE rircu�ri,tanrr. rxi.t ��hich arr t+r�und k3urtawer: r�intnd. liorri�wer shall nntil'Y
<br /> Lendrn ot'uny rxtrnuatinF cirrum,tuncr+. NuRU�err,h:dl n�N rummit w•atilr ur d���tmy.dum:�ge�,r cub,tuntiall�•ehi�nge
<br /> � the Propeny�,r ullow thc Pn►�xrty lo d�tcriurale.rcarunahlc��•�ar anJ I�ar c�«�IrJ. l.i•ndrr may m��xct thc Pro�xrly if thc
<br /> � Properiy�s vucan�ur ahandoncd��r Ih. lu:�n i,in Jrl:wlt. LrnJer ma� tal�r rr.�,un:�hlr arlum tu pn�trrt anJ prcxen•e vuch
<br /> ivucant ar ah�nduncd F'roExny. Burrowcr .hall al,u hr in det:iult if Hi,rruW�r.Jurin�: thc IU:111 'J����IIC:I11011 PfOQ«�.�avr
<br /> I matcrivlly falu ur inacrurutr intiirn�ati��n or ,i:ncmcua i�, Lrndrr I��r tail�J tu pru�•idr Lcndrr ��•ith am� mat�nal
<br /> informulionl in connrctian wilh thc li�an cviJrnrrJ hy Ihr N��Ir. inrhidinr.hut n��t Iim�teJ w. rcprr.cnta�ii,n+ranrrminE
<br /> 1 Borrowcr',�xcupanry of thc Proprn�•a.:i pnnripal re.idcnrc. 11 Ihi�tirrurit� In,lrumcnl i,un a Ic,�.rho1J.Burr�nvrr�hall
<br /> cumply with thr pnwui�m,uf ihc Ica.c. lt H��rru��rr.1�yuire� fri•tilk't��tlu 1'mprrlt�.Ihr I�:��chuld:I�Id 1CC 1111��h�lll nu[
<br /> I bc mcrNed unleti+Lender aErer�tu Ihr nu rgrr in��riUn�.
<br /> 6. CharRes to Rorrower and 1'ratectiun oP Lcnder'x RiRht+in the Prop�Kt�. H�,rro��rr.hall pay ull g��vcmmrmal
<br /> i or municipal chartic..iin�ti anJ im{x�.itiun.that arc nut�nrluded m P:ir.igr:iph 2. l;urn,�ccr�h.�ll pa� �hr.r ohli�ati�H�,un
<br /> • Itime dimrdy tu th� enuty wh�rh i�u�ved the p:iymrnt. If I:�ilurr tu �,:n• ��nuld.�dvrr.rl} :dfrri Lrndcr'. interr+t in th�-
<br /> I property,up�m Lcndcr:rryur+t Burro.�cr,hall promp�h fumi,h��,Lrndei rrrripi�e��idrnrmE thr�c pa�mrnt,.
<br /> It B��now�r f'uil,tu makc �hc.r pa}nunt. or thr p:�)mrm� rrquirril h� Ifiiragr;iph �, or t;ul. tu p�rti�nn anr��tlk�
<br /> � onvrn:mt� •rnd uereement+conluincd in ihi� Securil� In.InimrnL��r iherr i,a Ir�al pr�kridin�Ihat ma�� .ignilicantly affcrt
<br /> . , LenJrr:right, in thr Pn,�xrty I,uch a,a �mxrrdin� in hanF.rup�r�. tur:uixlrmn:du,n ur tu rnlar« la���ur r�gulauam��.
<br /> then Lendcr muy Ju unJ pay whatr�cr i�nccc..ar� tu prutcrt the�alu���I the f'nq.rrt� :md LcnJcr'.ri�:ht.in thc 1'nK+rn}_
<br /> ; including paymrm uf�axr..haiard m�urunrr:md wher�tcm.mcnuunrd m P;ua�:raph'.
<br /> i Any amount,di+bur.cd h��l.endrr undcr�hi+I'.va�raph �hall I+erume.in .klJihunal drhl ut B�,uu��er and hr.a•urr�1
<br /> by this 3eruriry Inslrument. 7`hr.c amuunt�.hall Inar mtrrr��(rum�hr daie u1�Ji.hur.rmrrn.ai Ih�N�,ir r:uc. :md at dir
<br /> opuun of l.endcr..hall Ix immrdialcl� dur and�a}•aM�.
<br /> 7. ('ondemnati�Nt. Thr pruc�cJ,of am u��aiJ ur rlaun tur�I,�ma�r..dircc�ur r�m.ri�urnual, m r„nnrcliutt��nh :m�
<br /> � wndemnutiun ur othrr tukin�ul'un} pan uf thr 1'ru�xm.ur ti,r rumr�.mrr m pla�•r ul rundrmnauun.:u�n c�reh� .i.,i�:ik.i
<br /> unJ�hall br paiJ to Lend�r tu thc exirn�ut�tln lull amount uf Ih�inJrMrJnr.. that rrm:nn.unp.nJ undrr Uu Nute:md �hi.
<br /> Security In,uument. LrnJer.h;dl apply wch pr�Krrd,tu ihe rrduruon„t the uideMednr..uudri�hr Nutc and th�.ticr unl�
<br /> In.trumcnt, firtit ti� ;�ny drlinyurm am��unt+ upplied in the �xder pro�idcd in I':�r;i�r:q,h ;. .wJ �hcn n� piepu�m�n�„t
<br /> pnncipal. An)' rpplicatiun uf Ihr prorrr�l.t�, �hr r�����,��al .hull nw r�trn.f ��r p�,.q��mr �hr du�• d.dr „t thr ni��nihl�
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