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<br /> . . _ . � 10�270Q -
<br /> 1. b�.rat�tlei.ei�.l,L�ias�a.+czle cMr� Bdzower s6�u p.y wben aue ida pinc��.1aa�a�►; �
<br /> die dtbt evideaced b�►t6�Nc1e a�d We c�es due uader tbe No1e- � Bonowes swi!inclrrde in ach moothtY WY�• _
<br /> ' S• �!�T!K��t'I�u�a�.I�ra�ee a�i Otller t.1�r� an ias�aliment of aay(s)pu�es md �
<br /> ' �toget6or wit6 tlrc p�apd aod ia�erest u set fard:ia t�t No�e�nd aay late cAr*8��.ar cent�au Me Ftope�y�aod ---
<br /> • specW auess�aea�kvied a w ix kvied ag�ia�t tlkf�ope�tj►.N)k��P�Y� 8�++�. Ftop _-
<br /> � , � �(�?P�for i�ut�noe iaNimd bY PraAape 4 --
<br /> g�cA ri�oNhty imwitment far_itans ta), (b?aad.(c).sbali equat ooe-twehib oE the aanual amo�ats.u reasa�ablY - __
<br /> �io�e�hy t�eades plus an amu+iot suff�`jen[ta m�4pta�n an additia�ai W►ance of not mone tban one-sixth af the -- __
<br /> �� Tl�e fW!smwl amount for eacD�4�sh�ll be accumuWod bY Lender vvitAin a periad en�GnB uoe .
<br /> mo�hbecae�n iwn woWa 6xame eet6jquent. [�ead4r ssau notd d�e amo�cotixree ia wu wpay�cems is?.ro>� �J_
<br /> (o)befae d�ey 6ecoaoe deWlq�ent. h e l d b t.e n d e r f a i u e m s(a):(D)a n d tc)t o g e t h e r•with the fuwre moathlY �'i-_--
<br /> ,I f�t any t a n e t 6 e t a a l o f d s e p a y m rn t s w the.due Qstes ot such rtema.e�cco�s by mot�than one-six�h tbe. �``"-�`:
<br /> . paymad�fa soch ibems p4yahk tn Lender piar , on the Notc are caureut,tM�l.ender • �
<br />-= e�ed antount of p�yments rmquued w PaY su�t ltems.wLen due.and if � .�- _ .-
<br /> -- shafl either nfund tbe eaarss over awsinth of the�od PaYmrnts ar ��t tlre txcas aver aae-sixmtha�de b�jr Ba� =-_
<br /> - payments ta subsequent PnYme�s bY BoROwer,at tht.optiaa of Borzower If the wtal of tbc payments
<br /> :�� far itan(a?.(b),or(c)is insnffi�ent to pay thc ita�t y�hen dne,then Bo�rower shail pay to Lcnder�y amamt nooessarY w `; _
<br />=,,-: makc up the deficien�y o�ar befose the dau t6e ican b.��• ���g and Ur�.n Developrt�au a his ac ber =- -
<br />- . As�sed in t6ie Sa�ntY L�dn�mait+°Socr�tary`°�ps 41x S�� um w tbe Sec�c�etuY,eacd monthlY PeY� . �'_:�-�.
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<br /> ' desig� In At►y yeu in wt�ich the I.ender must pay a moltgage u�surance premi wn w 6e paid BS► I.endt�to d�e -' :-- -
<br />- sh�l1 also inchrde e�ther: (i)an insmllment of the.a�oal mongage in�e p�em� nt is 6eld il�ee ���cz�'�� -
<br />_.� S c c�z t a r y.or(ii7 a moMtil y d�arge insiead of a rrwrtg�8e insur8ice praaium if this Sec�mty InsOVme dJ► '�":,M�--
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<br /> _ Sa��ry, Eac6 monthly ia�tmeM of the mortgage insttru�ee p�!emiwn s6aU be in an amaunt s�ff cienE W accam u l s t t t h e .;�.
<br /> u, fall annu�l taort8s8�e�tt�e Pre!nium v r i t h L e n d e F o n e m a a t h p r i o r t o t h a d�te the fuII snnu�i mo�gaga inso�apc� '"",�_
<br /> an
<br /> _'.- ptemiom is�e to tl�e Scc�ttuY:ar�f this Secun'ty Insttument Ls heW by tbe Soc�etuy.exh moathly ctru8e.r,hall be ue an a- z -
<br />�'� a�aount equa)to ame-twelfth of one h�tf pelCeni of the;outstandin8 P�P��due on the 1Vote. ..-�.�s}:
<br />` � If Bartuwer tardets to I:ender the full payment 4 f a l l sums s e c u c o d by t h i s Securi q'In.stmmeot.Borrower's xcaunt �`�_�--
<br /> . sbaU be etedjted widt tLe�laooe:emainieg foa.atl installrtknts for items(a?.(b)and(c)aud aaY nwrt8�8�iaS�ar�c� �..-_;��r;,,
<br /> . � ium frWaIIar�t that Lender i�not hecome obirgated to pay to the Secret�Y,and Lender shall pcanpdY nfw�d any
<br /> '✓� e��cess funds to gurrower. Ima�ediauly prior to a focieclosure sate of the PtopertY or its acquisition by 1.ender.Bomnwer's �,; _
<br /> _.. cndited widi iralartca�i�iflg far al!installments for items(a).(b)aad(�). . �.+--.""�--�-_. -__
<br /> _�.d��_ � accourn si�alt bc �Y t
<br /> 3. Ap�li¢ation o/P�7�ts.AU PaYmerrts undet P�S�P���2 shall be applied by Lender as foltows:
<br /> ;��': `` Fjg�'j,to the mortgage insurance pcenuum to bc paid by Lender ta the SecretarY or to the moattily charge by the . , '�'. �
<br /> _ • Saroetary instead ogthe matthly mortgage insurance P�eitu?ur�: , °:-;�-�•
<br /> r SECOND.to any taxes.spxial assessments.teasehold ym�►ts or grou n d ren u,a n d f i n e.fl o o d and ather hazard -'�� '
<br /> ; ins�uance premiums,asrequired• � 1_ , _ .f�y
<br /> . �j(gg to iaterest due wsder.the Nate; . "_;,`:� - •:
<br /> - �,w amartizatiori af the pcittcipal of thc Nat� • • +%K�e i:3;::r
<br /> `. �,to late charges due muler the Note. • .: -::, -
<br /> ements on tBe PropeaY ,:.._ ..
<br /> 4 Fire.F l o o d s i u d O�I K r H s z�r�Iasar�ce. Borrower shall insure all imp�ov_ ,whett�er now f..�,��.,° `•.
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<br />. �" " iri e�stence or su�s�quently erected,agairsst any hazards.casualties,m�d cuntingencces,inctading fir�for which l.ender . ,y �•- ;
<br /> �' N L requins uuurance- 'Ifiis insurance shaU be maintained in the amounts and for the periods that l.er�der tequi�es. Borrower � �r°_,.�'.:�.
<br /> '-;;: ;-��� �` • stsall atso insure all improvements on the Froperty,whether now in existence or subsequently erected,against loss by floods �•". .. t
<br /> `1`. � ,�x,� . � tm�e extent requ'�red by the Secretaty+. All insurance shall be carcied wi�:campanies app�aved by Lender. The,insurance
<br /> �''�-" �� `� ' po(icies and any renewals shall be helB,by l.ender and shall include loss payable clauses in favor o� and in a fortn ., ,.�,
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<br /> ••;: . . a�ceptahle to.l.ender. . `l.'`
<br /> � `�±�Y:�x•. in the event of loss.Boaower shal!give l.ender immediate notice by mail. Lender may make proaf of bss if not � ,,£�.��
<br /> � �. ' made promptly 6y Borrower. Each insurance company cancemed is hereby authorized and directed to make payment far _ _
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<br /> ` ' s•. -.��• �' ' sucb loss directty to Lender,inseead of to Borrower and to I.ender jointly. All or any Part af the insurance proceeds may be � , ___
<br /> . i '.��''- .-�• app ued by Lender,at ii.v optiar.either(a)to the reduction uf the indebtednes�g under the Note and this Security]nstrumen� __"
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<br /> • • � '3� f i r s t to any delinquent amourtts apP lie d in i h e or d cr i n P a r a g rap h 3.a n d t h e n to pre pa yment of p r inci p al,or(b)to the C :. , __
<br /> �'���j s�-�� ���- � A n a l i c a t i o n o f t h e r o c c e ds t d i he nnc� al shall nM extend or postpone
<br /> � 'x�;-.�4�. ' restoration or repatr of the damaged prapertY• Y PP� P P P -:�,f . -'`�=:'-�=?:.
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<br /> :�-_; ;�:�.• ' � the due date of the monthly payments which are referred to in Paragraph 2,or cha�ge the amount of such paymenrs. Any � " �:;,;_
<br /> . :;..J,._. : t. �'..��' 4, ��.t':�`
<br /> , , � excess insurance pluceeds over an amoun[required to pay all outstanding indebtedness under lhe Aio.e and tAu Security . a.� a
<br /> ' :t��--�:,.;Y. • .„sr.�., ..
<br />� ���,- :•<<,; • lnstrument shali be paid to the entity tegalfy ennticd thereto.
<br /> y.Tk, . . � .:���.r..�.
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<br /> i• .��.�.,;r, ln thc event of foreclosure of this Secarity lnstrument or othcr traatisfer of title to the Ropert}�tfsat extingaishes the . , ..;, `�, : � ,,,w-,_
<br /> • indebtedness.all right.titte and interest of Bonowet i»ar.d to insurAnce poticks in forc€ahall pass to the purchaser. j.__.; j ..,;:��' __.-
<br /> .� .:•�isF� . S. OccupancY+ Presee��tion• 1Naintenance and YrotecNon af the Pruperty; Borrower's l.oan Applict�tion; �. �., ; . ���-.�-
<br /> r='�•• • l.easehoW�. $oaower shall occupy,establish.and use the Praperty as Borrower's pdncipal residence within s'�xty days � ' �--t _
<br />. -.��� .. ' after the execation of this Security lnstrument and shaQ continue to occupy the Praperiy as Bartower?�principa)residence ; , • _�_:. - •
<br /> � ` r�. for at tea.gt one year after the date of occupancy.unless the Secretary determmes this reywrement will cause undue hardship I•� ,;;
<br /> � ��'���a '�'�' - for Borrawer. or untess extenuating circumstancea exi.st w•hich �re beyand BoROwcr's contral. Borrower shall nniify � . .;;..''�
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<br /> : �• • � Lenders of any eatenuating circc:mstances, 8orrower shalt not commit wu�te ar destroy.damage nr substantiaU y change ,
<br /> � • . ' � � the Properiy or allaw the Ptapeccy to deteriarate,reasonable wear and tcar excepted. Lender may inspect the Praperty if t he ,
<br /> • , Progerty�s vacant or abattdaned or the loan is in default. I.ender may take rca�on�bte actian ta protect and precerve sucb i
<br /> vacant or abandoned Yroperly. Borrower Shall also he in default if Borrower,durin;ihc loan apptication process.gave ;
<br /> � z:,:'"° �• • � materialty false or inaccurate mformatian or �tatement+ co l.cnder tor failcd ra provide Lendcr with any matenal �
<br /> � ..;;•: infortnation)in connection with the toan evidenced by the A`atr,including.but no!li�ited to.representationy conceming i
<br /> `r,''.�';;, � Hortpwer'soecupanCy of the PropettY a.ti a principal rex�dcn�e. tf thi.r Sccutity Instturs�er,t is an a Icaschold.Borrower shaU � •
<br />. ' �'f�-�n=�=:-_ '" compty wi�h the prov�sions of the lea�c. If Bnrrower acyuires fee title tn the Propeny.tAe Iea.reh�ld anJ fee title shal!not . .
<br /> :+,+.:�•:. � � � be merged unless Lendcr agreey to the merger in writing. ; .
<br /> • 6. CMaeges to Borrowe�and Protection oi t.ender's Itlghly in Ihe Pruperiy. 6orrawcr shrill pay all govemment�+l ; .
<br /> ' or munlcipal charges,Pu�es gnd lmpositions thUt s�re not inctuded in P�ragraph 2. 8orrowcr shall pay these nbLgations nn
<br /> • �. time d'uectly tn the entity which is owcd Ihe payment. 1f failurc to pay`��A�utd adversely affect Lender w interest ln thc .
<br /> ' ' Yroperty.upon Lender's•request Hurrower shull prUmptty i'umi�h tc�l.ender receipts evidencing these payments. ;
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<br /> � ' Ii Borrower faiiw to make these p�ymcn�s or tfie paymcntw required by Paragraph 2.or fails t�perCarm any other . ;
<br /> - �� _:...-....:._,_ �_, ; � eoven�ttss and agreements cori�nlned in this Security Instrument.ur�here is a legal pracee�lin$that muy signifiranUy aifect i, .
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<br /> _ . .- . Lenckc'§tights in the Propeny tsuch:�u prviceedin�tn baukraptcy.farcondemnauon or to cnfone laws or ce�ulatinn�). F
<br /> � � , then Lender may do auHf pay whatever is necessary w protect the valuc of thr I'rupeny.md Lenderv rights in thc Propeny.
<br /> - -- . - - - - lnctuding paYmtnt of taxes.haiatd insuruncc�td�ithcr itemc mcadcmcd in F.ua�aph 2. - - '
<br /> � - Assy�mounss disbw�scsf by LenB_r ua�et this I�.lrs�ph sha!!herame an add'�innal debt��f Bnnawrr;ind bc secured _.
<br /> ' � tsy this Security instntment. 'fhese:ununnty shall be:u intcrest fnm�ih�date of di�burscmcnt.ut the N�te rstc.und ut the • : . _
<br /> � . . ' , aption of l.cr.der.sha116e immcdi�trly due un�1 p-ayabtc. •
<br /> . � Z Caedemt�t1o�e, The pcuc¢ed5 af:u�y award��r claim for dum;��rs,direct or conseyuen1ial,in connerdnn with any
<br /> ' cottdemn�ttnn or ather taking af nny part of the Properiy.or h�r c�mveym��e in place�f condemn:idnn.:ue here8y uss�gned . .
<br /> � ' w�d sh�ll bc p:�d tn 1.ender ro thc extent nf the fuii vmount of thc indrbtcdness that remainv unpaid un�3cr thc Note vnd this • .
<br /> � ._--�---- Securitg inss�usncttk t�c�,r.slr,�l!strpiy suclt praceetls tQ thr tcduc tian nf the.imlehteclaess untict the Nute:tnd thi.9 Sc�witY . _... . _ - .
<br /> • tnstrumenb first tn:u�y �ielinqucnt:+mounty vpplted �n the order �ryvided in P.ir:i�r,�ph �.:u�i!thrn tv ptcpuyu�etit �t' � �u"`"�"`�"`-
<br /> ' • princiQal. AnY apPlicatian of the pracee�is tv the pnnrilr�l s1r�11 ne�t e�tend ar pustpone the due dste��f the mnnthl�r � .
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