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<br /> L pajr�at d Pd�clpN.Ltenat and Lste CrarjG�Batrower shall pay when due the principai of.aad intenest�. �
<br /> the debt evideaccd by the Notcand tate charges dne under the Noce. `
<br /> L MosWy p�ymenis d'ii�zt�Tmoneee aad Ot6v Cha�. Baridwer shaB i�rlude in e�ch monthlY PaY���
<br /> togetber with d�e pincipaL and'uuerrst as sec fath in the l�tote and any taic chargrs.�tt installment of aay{a)taxes and
<br /> speciai ass�ssrtxnts i�+ied or to be tevied against the Ptnpecty.{b)1eas�ehold payments or�und ren�s cx►the Ptnperty.an� .
<br /> (c)psemIums for insuranct requiced by Paragraph 4. '
<br /> E�ch maathly installment for items(a?.4b�and(c?shail cqu�l one-tweiftfi of the annual amoun��,as reasonably � _
<br /> • 'sestima(od 6y E.enckr. piuy an emount sufficitnt to tnaiataia� adA'iaanai 8afance uf not nwre th�i ane-siutb af thc•�-
<br /> � esdm�ted a�nonnts. 7Le f�tll annual �moum for eacts.item shall be accumulated by Lcndet wit6ir►a period ending oac :
<br /> t�tonth bet'o��n-itcm y►rouid become det�nqven� Lendcr shal!hotd thr atKnunts coltectcd en tnut to pay�tems(a�.(b!and_
<br /> i�)befa�e they becorrte delinquent. ,
<br /> � ` If at�y time the totaf of Iho payaxt�ts held 6y Lender for items lal:.lbl�d(c).Eagether with tbc fuwne mnathly. .
<br /> payments for such itrms payabte ta Lender prior to 1he due datcs of such items,eaceeds 6y more than aae-sixth tbe
<br /> . estimatod amount ai paymmt��eqaired mpay Such i[erns when due.and if pay�nenu on ttie Nate are curr+a►a then L.ender • -
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<br />� shall eitlKr iefuad.the excess ovcr aie-sia�th of the estimaced payments or�redit the eacass over ane-su�th of the estimated
<br /> - payments to subseque�it paymmts by Borrower.f,t the option of Bartuwer. [f the totai of tLe payments madc by Bortuwu
<br /> far item(a}�(b)�ac(c)is insut�'�cient to pay the item when due.then Boaawer shall pay to Lender any amount necessary to
<br /> _ maks ug thc deficieacy on or before the date tho stem becomes due. .
<br /> � As usod in this Secunry lnstrument,"SecretatY"meanc ttic Secretary of Housing and Urba�t El�eve[apmentor his or txc
<br /> designee. In any year in which the Lender must pay a mattgage iRSUr�uiee premium co the Setc+etary.each monthly paymcnt.
<br /> - shall also inctude either. (i)an installment of the annua! mortgage insurance pi+emiutn to 6e paid by Lend�r to the =_
<br /> � �� Secretary,or(il)a montt�ly charge instead of a mongage insurance premium if this Secunty[ast�nt�s held by the
<br />' Seccetuy. Each mantlily insrallment of t1�e mortgaSe insurance premivat sha111�e in an amaunt safficient to:,cca�ul�te U.• �. -
<br /> ::�Y fup amival mortgage irc�vrance premium with Lender one month prior to the date the full anm�al mcxtgage insurance �;�_�..
<br />-- %�' pnmium is due to the Sa�tetarY:or if tlus Security lnstrumet�t is hetd 6�r the S�.eaclt montisly chatge shatt be in an �-_='.-
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<br /> .�-�L ' . amouM equal to one-twelfth of aae�half Qercent of the outstanding princ�pal balance due on the Nnte. - • ���_ -
<br />_ lf Botrower tetbers to Letfder the fuil paytnent of all sums secured by this Seciuity lnsuume�t:l�ormwer's acca�at - -_-
<br /> shall he credited with the balance rr.naining for all instaltments for items(a).(b)and(c)and any riio�tgage ins�u�nce �i�.:._.
<br /> . gremium installment that l.eeder flas not become abligated to pay ta the Secretary.and I.ender shail prompdy�efw�d ar►Y ��f��
<br /> ' ,.: ` excess funds to Borrower. Immediatety pIIOr to a foreclasure sate of the Ptope�ty or its acquisiticxi by Lertder.Bomnwer s '���_':a:`:`
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<br /> ,��... _ . acco�mt sliall be credited with any batance remainin$for aU instaf tments for items ta),(b)and(cj: . � . . .::
<br /> ' �{ ��'�i`��. . 3. A tion otPf�ytneats:All paymenu under Paragraphs 1 and 2 s ha l l b e app li e d by L e n d cr as o i lows: . ` ,: ,:;
<br /> .t�� ;%��}�, to the mottgage i�sutance premtum to be paid by Lender to che Seccetary orto thC monthly�ge by tfie , ,.,.,��r5i:`;�
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<br /> . ':~?;^�:.�,�.,�, Seccetary instead of the iva�nhty mortgage insu�ance premium: , . ;;: �`,.' l-.'�r�
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<br /> �'�`,���t t. �,to an ta�ces.special assessments,teasehold a en�c or ound rents,and fice,Qond and ot6er hazard � : ����
<br /> •�;,y: �F. . Y P Ym B� .' 4 �-
<br /> �;4:.� 7���.s_:�" : insutaneepremiums,asrequited; `
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<br /> �: f;:: • TH1RD•to interest due under the Nate. ({� - �
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<br /> ��'�'._ ,,,;.� ,;,. EQ,��.to amortization of the principal af the Note; � , �,. :�;_�
<br /> `�!��"`•r-•' to late ch es dne under the Nate. � . "
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<br /> Q. Fir�Flood and OtLer 8azarA Insurnnce. Bomower shall insure all im roveme�its on the Pro whethec dow ����?;:°`'r..•:.:s
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<br /> _ T;;`��' in e�ristence nr subsequentl enected.against an hazards,casuahies.and contingencies,including fire,for witicii Lendc*' I ��'"�i��: ..
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<br /> • :�``� ' ' .,>� reqi�ims insurance. This insurance shaU be maintamed in ihe amounts and far the penads tliat l.ender requires. Barmwer F...,
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<br /> ` 1 ` : �, sha31 also insure all impmvements on the Property.whether now in existence or subsequentty erected,against foss by iloods r
<br /> , � �.,�;^',. ' ` to the eatent requued by the Secretary. All insurance shap be carried with companies approved by i.ender. Tke insurance : � ��,f,-.j ',-+; ,__
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<br /> ''�`,�,.17r poticies and any renewals shall bc held by l.ender und shall include lass payuble clauses in favor af. and iA �fortn %��;'�� , :-
<br /> � ''������� acce table to.Lender. � . ''�.�:�:::�., �
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<br /> •, , ,� ln the event of 1oss.Homawcr shall give l.ender immediate notice by mail. Lcndu may make proaf of lass if not , ��i;:;>�;,�..
<br />� �-:=�`•'� ' mada pram�tly by Bonawer. Bach insurance company cdncemed is hereby authorized and directed to make payment far ': _'.•.� �: ._--
<br /> '`,..=` :.. :�'� such loss d�rectly[o Lender.instead of to Bnrrower and ta I.eader joindy. All or any pa�t af the irtsucanec pcoceeds may be .�,:_
<br /> . � .. .
<br /> - .�:;��;f;,, i�° aFp l i e d t s y L e n d e r.a i i t s o t io n,eit�er(a)to the reduction oi'the indebtedness uader tha Note and this Security Instrument. � . �-
<br /> � � tust to any del�nq,ueat ucnounss applied in thc order ia paragraph 3,and then ta prepayment af principal.or tb)to the � .. , ��'-'-
<br /> . �f, . �:`'.; ns ..
<br /> ; •��;':: � restmation or reQair of the dasn�ed property. Any applicatinn of the pr�ceeds ta the pnnc.'�pal shaH not extend or postpone ,,•;:•;.
<br /> �"����`��r� the alue date of the monthly payments wh�ch are referred to in Paragraph 2,or change tbe amaunt of sucb payments. Any � . �,j,...;',� ,. ,
<br /> . �„t .
<br /> ' = excess insurance procceds aver an amount rec{uired to pay all autst�ndmg mdcbtedness andcr the Nute and th�s Security „ . _
<br /> . . ' ` � • Instrumem shall be paid to thc entity legalt}cntided thereta. ��• •.
<br /> :-,::����*'; ; :.,, ln the event of fareclosure of this 5ecurity Instrument or rnher transfcr oP titte ta the Property that extinguishes the . .. .�"
<br /> . �.:•!+�:`. •. ' indebtedness.nll right.tiUe att�interest oi Borrower in and to insurs�nce policie�in fnrce�ha[I pacc to the purchacer.
<br /> ��n ���:��: �� S. O ccupancy, Preu�c�t ion. Ma in tenance an d P�o t e c t i o n u!t h e P r o p c r t y: B o r m w e c s l.o a n A l i c a t i o n: � �� ,_}£,.
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<br /> " '���`'':'���'` � l.e a s e h o t d s. B a a o w e r s f�a lj a r�u py.establish.and use ehc Pr a p cn y as 8arrowce'w pcincipal rc�idence within siary days } `�° ��':,:.•�., •
<br /> ���'��`-`t�i'' ' after the executson ot�his 5ecurit tnstrument And 1hall cUminuc tu accu the Pro rt ns Horrawer?� nnci al resi dencc ,
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<br /> ' � ���: ..���i � for at tea�t ane�•r,a�after the date ol'accupancy.untess thr 5ecretary determmeti this reyuirement wiU cAUSe undue hardship � . •
<br /> r� �:�'� , � for Bortower. .^.�srnless extenuutins circumstancex exi.rt which s�re heyond Borrowert cantrol. Sanower sh�ll notify ' ,
<br /> ' .' `" Lendets af any extenuatin�ctrcumstane:�. Bvrrowcr shall nat c��mmit wastc nr dostroy.damage or sutrrtantially change !. ,
<br /> ',',��`�`�'�,'� �he Propeny or aitaw�he Pcu�-rny ta deteriorate.reaxanable wcar and tear exceptcd. Lcnder may rospect the F'rcmeny if the .
<br /> �,�%:,,,����:
<br /> '�.,•�ti!��.'L'� Property�s va�.�t ar aban�on:Q or the loan iy in default. Lender may tuku rca�onablc action to prntect and preserve such �
<br /> , . • "::�; � vacant or a'�w.^��pncd PropcAy. 8arrawcr shall atso be in dcfault if 13arn�wcr,during thc laan rpplication procesc,g,�vc � � .
<br /> �,.. ;..::;�:
<br /> ;,.;�,, matedally E�se' or inttrcurate inFarmuNun ��r HAtcmenlv u� [.cndcr (or fai�ed ta pravidc Lender with any matcnal t
<br /> � . ynfntmation)in connection with thc toan evidcnrcd by the Nutr.including.bin nut timitcd t��,reprcticmationw cunceming j .
<br /> . 8otrower's accupancy of tke('ropcAy i►�a princip.il teridenc�. Ii thi�Sccur�ly lnvtrumrnt i��+n a lea�chald.Barrawer shall i .
<br />. � comply with thc pravisianv af thc Icasc. if Hnm�wcr ucquirr�fac litlr tu thc f'ro�xrt�•,thc les�.cchold unJ far titic�haU n��t .
<br /> '. ' ' � be merged untess Lcndcr ngrees to t1n:mcrger in writing, . .
<br /> • . 6. CharRes tn Borrower und Ptotectiun o/1.cad�r'r+Iti�hty in 1ne f'roperty. Hnrt��w�r shall pay�il gnvcrnmentaf '
<br /> - ` � or municipal charges.finrc and impasltions that;ur nat incfudcd in('uragraph 2. 13onuwrr�hall puy thotir��M�g�+tion�an • .
<br /> . �. ' time directty to the endty which i�c��eJ the p�iyment. If f�i(un to pay wuuld :sd�•rr�ely.�ffer� L�ndcr:v intercst in thr. , •
<br /> � • . ' Prnperty.upon Lcndcr:s rcyucst Hnmiwcr tihall prumplly furni�h tu l.cndrr rccciptti cvidcncing thc�c r:rymm�t�. � � ,
<br /> � ' � lf Boaawer fails ta makr thr.c p:�ymcnty�+r�he p:rymcnts rcquircil by W�rugr.�ph 2.ut faitti a+�+crfan»:u�y� c�thcr : �
<br /> . covenants and a�reemeniv containcJ in thi�Securi�y In+tn�mrm.nr ihere i�a ir��l puxe�Ytin�th.0 muy�i�;nifieun�ty uffect � •
<br /> ' �. Lender's•aghts m the(�wpcny'/�uch:i�a pnx:ceding in�;�ikruptcY.fur wndcmnatiun nr t��rnfi�rce la�vs�,r rcgulutinnsf. � � � .
<br /> thert l.ender m:ty dn und pay�vhatever i�nccc�vasy N►pu�tu;t 1hc vsduc��i thc lfiuperty nnd Lcndrr s rightw itt thc Walx rty. !
<br /> , inctudin�payment df wxrs.h�rird insuninec:�nd nihcr itemw menliun�tii in Yaragcaph 2. ; '
<br /> , - - Any amuunts c3isburrrd By l.cndcr under thiY 1'.sra�raph tihull h�cum�an t+ddiN��tal debt nf Humiwcr:�nd i+r�ecumd ; •
<br /> by thls�Serw�iry instrumrn�. Thesc.�mountv shall br:u intere�t fr�m thc Jatc oi di�huncmenl,at thc Nun r.nr,stnd tt1 thc ;
<br /> ', oyt�on of Lender.shutl be immcdiutcly duc and payable. '
<br /> � � C.aeQemiwtton. 7'hc pracceds of:u�y rw;�rd or cL1im for dmnagcs.direct��r�un.rqu�mial.in cunncction�vith:u�y .
<br /> . . rondemnallon ar othet taking nf�ny ti•rrt�f the Prtlpe�y.nr for convey:utcc ln plucr uT a�ndcnmstiun.�rr hrteby:t�vi�nrd ; "
<br /> __ _ ___ _—_________ _= anr!sUall he gald to Lcndes to the extene dt the futl:m�uunt��f the indebtedncw th:u n�u�ins unpaid undcr thc N�te:uf�this •
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<br /> � Securiry Instrument. Lendet shal)apply such praceeey tv ihe rcducfion uf fhe indet+tcdite�s u'rf�fct thc htnt�:utd thic Sccuriry -- - - `-----_ . __.__
<br /> lnstrumenl: �rst to any delinyuettt �uuuunL�spplicd in the vrdcr pravidc�f in �.�wa�;raph ;. �uid then tn prcp�yment nf '; .
<br /> , . " . QfU1C�FY.lI. My applicadon of the prareedq to thr pdn�ipa) chall nnt extrnd or pc+stq�ttc thc duc datc uf Ihc nt�nthly ; , •
<br /> , . - . - . - - rput�e 2�jJ pute„ _ _ _ . _ .
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