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<br /> - ��� LOANNO. 15392 � 5o4s �`-
<br /> � 1. Pag�nie�!01 P�Inctpat,I�tcreai ana Lein ui�nr�e. eu�����r.��sh�1t p:.y t•rh�n clve ths princlrA!of,An�l Interest on.
<br /> � tN�o dobt�vlcloRCCd by tho NaYO and Into charqoa duo undor tho Note.
<br /> 2.PAonthly P�yment��9`fpxea,I��u�w�co,��td�tht�!�iia�'�o�. Oorrowor ohall Includo In oach monthly
<br /> payment,topether tvlth the princlpal�nd Intarest ae sst forth In tho Note and any la4e char{�es,a�um far(a)4axea and
<br /> � epeclal sesessmento lovted ar ta be levled agalnst tho Property,(b)leas�hold p�ymente or ground rents on tho
<br />- " Property,and(c)premlums tot Insurance requlred under Paragraph 4. !n any year In whlch the L.ender must pay a
<br /> moRgage IrQ�arance premlum to the 5ecretary ot Housing anrl Urban Development("5ecretary'),or In any yeAr In w3�lch
<br /> �� ' such premlum wotitd have been roqulred it Lend�r stlll held the Sec�rlty Inat�ument,eac h monthly payment shall also � r
<br /> IncluCo cfthQr: (I)�s�am f�r the annue.l mortQa�e Insuranco premlum tp be pald by Lender to the Secret�ary,or(II)a
<br /> .��' monthly charpe Instead of a mortga a Insurance premlum Ii tNls Securiry Instrument le hel�J�y�he uecreYary,In a � E
<br /> L�r� QM A A / OCO O 4
<br /> • �:t . reasonable amount to be determtn ny fne 3ecretary. �xcap►�u�i��d�����n1y�!���ba b;r!h�......r.,ty,r�,th_...,ft.rre_ � - ,
<br /> ara called"Escrow(temsN and the sumapaId to Lender are called"Escrow Funde.' �
<br /> *� Lender may,�t any tlme,cdlect and hold amounts tor Escrow Items In an aggregate amount not to exceed the w
<br /> maxlmum amount that may be requlred for Borrawer's escrow account under the Real Estate Settlement Proceduras
<br /> � Act o1`1874,12 U.S.C.9 2601 e!sep.and Implementing regulatlons,24 CFR Part 3600,as they may be amended from � �V
<br /> ` tlme to tlma("RCSPA"),oxcept that the cushlon ar reseNe p�ermltted by RESPA for unanticlpated dlsbursementa or p ��_
<br /> ;� dlabursements befQra tNe Borrower's payments are avallable In the account may not be based on amounts due far the � ��-
<br /> mortgage Insurance premlum. __
<br /> If the amounts held by Lender far Escrow Itams exceod the amounts permltted to be hetd by RESPA,Lender shall ___
<br /> -• � �� deai wfth the excess funds as requlred by RESPA. If the amaunts of funds hald by Lender at any tlme are not sufflcfent
<br />_� to pay the Escrow 1¢ems when clue,l.ender may notHy the Borrower and requlre Borrower t�make up the shortage or
<br />;_� �"".� deflclency aa permitted by RESPA.
<br /> The Escraw Furxis are pledged�►a eddftlonal securfty for all sums secu�ed by thls Securlry Instrument. li Borrower
<br /> � tendera to Lender the full yment ot all such sums,Borrower's account shall ba cr�dfted tivtth the balsnce remalning G__
<br />_, � ,:� fo�all Inotallment(tems(a�(b),and(c)and any mortgage Insurance premlum Installment that Lendor has not become =
<br /> obllgated to pay to the Secretary,snd Lender shall promptly rofund sny excess funds to�orrower. Immedlately prlor to
<br /> � a foreclosure sale of the Property or fte ac ulsltlon by Londer,8orrower's account shall be credlted wfth any balence
<br />�;.l'�' - � �
<br /> . romafning tor all Installmenta for items(a),�b) and(c).
<br /> " },�� 3.Applleatton o4 Payments. All payments under Paragraphs 1 and 2 shall be applled by Lender as follows:
<br />_- �• �� �IRST•to the mortgage Insurance premlum to be pald by Lender to the Secretary or to the monthly charge by the �
<br /> �'`� �,� Secretary Instead of the monthly martgage Insurance remlum;
<br /> a p
<br /> �ECOND,to any taxes,speclal assesaments,leasehold payments or�round rents,and flre,ilood and other hazard
<br /> x:;;: -• Ineurance premlums,as requlred;
<br /> �,�;,,. •�` � �IRD,to Intorest due underthe Nate;
<br />- FQURTH,to amortlzatlon of the princlpal of tha Note;
<br />°.: .. �,j� •^�at�ct�arge9�:l8 4!!!!�gf t�g NntA.
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<br /> jf,��w.,.: �±��, 4.Flre,Flaod�nd Other H�zer�l Insuranae. Borrower shall insure all Improvements on the Pro rry,wfioiher
<br />-s+;.r.:; ;�;��� now In exlstence or subsequently erected,aga�nst any hazards,casualtles,and contlngencles,Incl Ing flre,for whlch
<br />�?;�,�, ;:.:-� Lender requlres Insurance.Thla fnsurance shall be malntalned In the amounts and for the perlods that Lender requlres.
<br /> =r;;�-V s�;'' fiorrower shall also(nsure all Improvements on the Prope►ty,whether now In exiatence or subsequently erected,
<br />—.-=�T�; � , ,: againat lASS by floods to the extent requlred by the S�earetary.All lnsurance ehall be carrled wkh companles approved
<br />=�'��? �• by Lender.The Insurance pollcles snd any renewals shall be heid by Lendor and shall Include loss�ayaWe clauses In
<br /> tavor of,and In a form acceptsble to,Lender.
<br /> =--���:�.� In the event of loss,Borrower shall glve Lender Immedate notice by mall.Lender may make proof of loss it not
<br />�����v-�".� made promptly by 8o�rower.Each Insur�nce company concemed Is hsreby suthorize�and dlrected to make payment
<br /> -"'"P����� for such Ioss dlrectly to Lender,Instead of to Dorrower and to Lender IolnUy.AA or any paK of the Insuranca proceeds
<br />,-.z,:�,'�d;
<br />- -- may 6e applled by Lender,at ftF optlon,sither{a)to ti�e reductlon ottfie Indebtedness underthe Note and thls SeGUr�tf
<br /> _=- - Instrument,firat to any dellnquent amoums applled In the order In Paragraph 9,snd then to prepayment oi princlpal
<br /> - ---�'- (b)to the restoratlon or repafr of the damaged property.Any appI�ation of the proceeds to the princlpal shall not
<br /> ---=- e x t d n d o r p o s t p o n e t h e d u e d a t e o f t h e m o n t h l y p a y m ent s whlch are referred to In Pa�agraph 2,or change the amount
<br /> ------ -- of such payments.Any excess Insurance proceeds over an amourrt requlred to pay all outcta n d ing I n de b t e d n e s s u n d e�
<br /> ------- �= the Note and this Secu�ty In�trument shall be pald to the entity legally entitled thereto.
<br /> I n t h e e v e M o f f o r e d o s u r o o t t h l s S e c u r ft y In strurnent or other transfer of ttNe to the Property►that extingulshes the _
<br />�_�:��i Indabtedness,sll rlght,tftle snd tnterest of Borrower In end to Insurance pollcles In force shall pass to the purchaser.
<br />-__ ______;;�; 6.Occu�ncy�Protew�tlon�M�tnten�nc��nd Protsctlon oi ths Property;Borrower'�Lwn Appllcatlon;
<br /> - - !_��+na:�a• earraver sh�ll ocaupy,esta�llsh,and use the Property as Borrower's princlpal�esfdence wfthln e)xty days
<br /> � — after the exar,utlon of thls Sscurfty Instrument and shatl conttnua to occupy tao Fropnriy ad b�rowo�s N�i��clpat
<br /> - -- resldence for at least one year after the date of occupancy,unless the S9cretary determines thls requlremeM wAI ctsuse
<br /> - �� undue ha�dshlp tor Borrower,or unlesa Axtenuating clrcumstar+cas sxlst whlch are beyond Borrowe�'s control.BoROwer
<br /> -�'�'�'��'� sh�ll notNy Lenders of eny extenuattng clrcumstances.Borrow�r shall not commft waste or destroy,dainage or
<br /> ����;�.� substantlally change the F�roperty or allow the Property to deto►lorate,reasona�le wear and tear excepted.I.ender may
<br />'�;:�,s�� Inspect the Property tf the Properry Is vacant or abandoned or the I�an ts In detault.Lender may takn reasor�bte actlor�
<br /> -���� to protect snd presarve such vacant or abandoned Proporty.Borrower shall atso bo In deiault N 9orco�rer,dUring the
<br /> r-``����„� loan eppllcatlon pracess,gava ma2erially false or Inaccurate Informatlon or atatements ta Lender(or falled to provlde
<br /> - "-- Lender wfth any materlal Informatlon)In connectlon wfth the loan evldenced by the Note,{ncluding,but not Ilmlted to,
<br /> �,_���; �.
<br />'Y��-�.Y;:r���:s�. '� representatlons conCem(ng BoROwer's occupancy of the!'roperry as a princlpal resldence.If thls Sbcurity Instrument is
<br /> ..,f��, on a leasehdd,Borrower shall comply wfth the provlstc,ns of tha lease.if Borrower acqufros fee tiUe to the Property,the
<br /> =`'_ �� �::..t..� . leasehold snd fee t1Ue shall not be merged unless Lender sgreea to the merger In writir�g.
<br />���%�.�±:: � d,Clur+pes to Barorder and Protectlo�01 Lentler'�t Rfyhts In the Praperty. Borrower shall pay all govemmental _._
<br />�r � � � � or munlclpaI charges,flnes and Imposftions that are not lncludod ln Paragraph 2.Borrower shall pay these obllgatlons
<br /> ��� on tlme dlrectly to the enttty whlch Is owed thepayment.If fallure to pay would adversely aitect Lender's Interest In the
<br />�;:�.�:' ....-
<br /> • Property,upon Londer's request Borrower shall prompUy turnlsh to Lender rece(pta evldencing thesepayments. _
<br />� `°� � If Bo►rawer faNa to make those payments or the payments requlred by Paragraph 2,or fails to perform any other _
<br />�`�;�.;��'= covenante and�tgreements contufned In thls Securit Instrumant,or there Is a legal prnceeding that may slgnlftcantly _.
<br /> y Y„_..,..�..,.....,...., r.v���Amnattnn nr ta enforce laws or "�
<br />_ — __ -,- flttBCt ienders ngrns in ma r►openy�oucn na d Ni waov���y��...�........r--,.•-• --••----. ._.. _
<br /> , _;�h��:� ' regulatlons),then Lender may do and pay whatever Is necessaryt to protect the valuo of the Property and Lender's �
<br /> � rlghta In the Property,Including payment of taxes,hazard Insurance and other Itema mentlonec!In Paragraph 2. �
<br /> ' Any�mounts dlsbursed by Lersder under thls Paregraph shall becdme an addlttonal debt of Bonower end be
<br /> � secured by thls Securfty instrument.Those amounts shatl bear Intorest from the date of dlsbursement,at the Noto rate,
<br />- - and at the optlon of Lender,shall be Immocilatety due endpayabte.
<br />-- 7.Conalemnatlon. The praceeds of any awurd or claln�for demages,dlrbct or consequential,ln connt�ctlon wlth
<br /> ~� ' any condemnatlon or othor takfn�of�ny pa►4 of the Property,or tar conveyance In�lace ot condemnatlon,aro hereby
<br /> - � as�lgned and shall ba pald to Lender to the extent of the full amnunt ot tho indebtedness that remalne unpafd under the
<br /> •� � � Note and thfs SQCUrtty Instniment.Lender shall apply such prnceeds to the reductlon ot ths Indebtedness�nder the �"'
<br /> � No te a n d t h ls S e c u r i t y I n s t r u m e n t,fl r s t t o a n y d e l l n q u en t emounts e p p lled In the order provlded In Paragraph 3,and �
<br /> � • then to prepayment of princlpal.Any appllcation of the proceeds to the princlpal shall no4 extend or postpone the due _
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<br /> , ' FHA NHOAASKA DEED OF TRUST 5�95 -
<br /> __ , ISC/FMDTNE/J0691/(G-951•L PAGH2OF4 -
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