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<br /> ' �: �6'����7�� LOAN N0. �--cY-=��-:-
<br /> 153921509G � _.
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<br /> i.P�yrtnent of Princlp�l,�n4ereat und Lato Che�o. B�rrowor shall pay when due the princlp�al of,and Interest on, • �°
<br /> � •� ._ 1 tho debt evldenced by the Nate and late charges due under tho Noto. . �
<br /> � 2.CAor�thty P�ymonte of�'�xew,InguraflCB,t9Vif��1�iQP Gh81'Q00. qorrower ahall Includo In cach manthly
<br /> � paymont,tadathor wlli�tho princip�I and Intoroot ac oot farth In tho NoYo and�ny lato charpo�,a uum 4or(a)ttucc�s a�d
<br /> speclal ase�ssrrionto I�vlc�ti or t�be levlod sgninst the Pro orty, (b)leaoehold paymento or dround ronte on thd
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<br /> " Property,and(c)premlums for Insurance requlres�under �ragraph 4. In any year In whlch the Lender must pay a . .
<br /> mortgage insuranco premlum to the Secsatary ot Mousing and Urban Development("Secretary"),or In any yoar In whlch
<br /> � euch premlum wauld have been requlred it Lender etlli held the Securlty Instrument,each c�nonthiy�aymont shall also
<br />' � .� Include elthor: (I)a sum for the annual mortgage In�urance Fremlum to ba pald by Lendor to th�Socr�tary,or(II)a
<br /> monthly cherc��Instead of e mortg�ge Insurenco premlwr if thls Socurity Instrument Is held by the Socretary,In A
<br />,� =----_�,--�-- •�^^^^^�'^^o^^��^f t�t���t�•.^.^.!n�k+y rha Spr.rptarv. Excont for the monthlv charcle bV the Secretarv,theso ltems �_ _ :
<br /> . ���,,..��w.,,..,.�,�..,,.. - • - -.... - -�•.
<br /> - � are called"Escrow Items"and the sums pald to Lender are called"Escrow Funds." ��.i-
<br /> " -��y"� � Lender may,at any time,collect and hold amounts tor Escrow Items in an aflgregate amount nat to exceed the . � .,
<br /> r,��»--Y•� ' maxlmum amount that may be required for Borrower's escrow account under the Real Estate Settlement Procedures ., .•�
<br /> � Act of 1974,12 U.S.C.B 2601 et seq. and Impismenting ragulatlons,24 CFR Pan 3600,as they may be amended from , . :.t.
<br /> � ,„ ttme to tlme("RESPA"),except thst the aushlon or re:erve permitted by RESPA for unanticlpated dlsbursemonte or . _
<br /> disbursemenis batore the Borrower's paymAnts ere avatlsble In the account may not be based on amounts due for tho
<br /> { mort���e Insiirance premlum. ��;;;:�-=-
<br /> � If the amounts held by Lenderfor Escrow Iterrts exceeci the amounts permitted to bo held b}r RESPA,Lender si�all .:- -
<br /> � ' f deal Hdth tho excess funds ae required by RESPA. !f the amounts of funds held by Lender et any tlme ere not sufficlent �' '+:�±`
<br /> ��� topay the Escr�w Items whe�e due,Lander may notliy the Borrower and requlre Borrower to maka up the shortage or `;�
<br /> ' w deficlency ss pormlttod by RESPA. '.'� � "i-
<br /> � The Escrow Funds are pledged�s additional secur(ty for ell sums secured by this Security Instrument. If Borrower ,La_•:--
<br /> � �•. �' tenders to lender the full �ymFlnt nf all such sums,Borro�Ner's accoun t s ha l l be cre d l t e d w l t h t h e b a l a n c e r e m e i n i n g �.�_�.,,._
<br /> �. � � for all lnstallment items(a�(b),and (c)and any mort�aye Insurance premium fnstalimerrt that Londer has not become ��i. =�_
<br /> � , obliga2ed to pay to the Secretary,and Lender shall promptly refund any excess funds to Borrawer. Immedlately prlor to �;T;�i a�
<br /> a tnreclosure sala of the Property ar Rs ac uisltion by Lender,Borrower's account shall bo credited wlth any bal�nce r:�_
<br /> remalning for a!I Installments for items(a),�b),�nd(c). ';�• •
<br />°, -�. 3.Appllcatlon of Paymon4e. All payments under Paragraphs 1 and 2 shall be applled by Lender as follows: ==---
<br />_ '�.� FIRSY•4o the mortgags insurance premlum to be pafd by Lender to the Secretary or to the monthly charge by the ��__
<br /> 3;� Sc�creiary Instead of the monthly mortga�o Insurance pramlum;
<br />� a SECOND,to any taxes,speclal assessments,leasehold paymonts or ground rents,and fire,flocxi and othar hazerd _
<br />- ,. Insuranr,e premiums,as required;
<br /> :;� �• THIRD,to Interest d�e undarthe Mote;
<br /> FOURtH,to amortlzatlon of the principai of the Note; _
<br /> FIFfH,to late charges due underthe Note.
<br /> 1'�'_� - _ �.e���c...�w�a nth�w.�,a.�in.��wnra, H�rmwer ahatl Insure all Improvements on the Prop�rty,whother �
<br /> � � r�aw in existence or subsequently erected,agalnst any hazards,casualties,and conYingencies,fnclucling flre,tor whlch
<br />;��� Lsnder requlr6s lnsurance.Tl�is insurance shall be malntalned In the amounts and for the perlods that l.ender requlres.
<br /> ��;�:� � . . Borrower shall also insure all improvements on the Proporry,whether now in existence or subsequently erected,
<br />:�,!.°,,;��;;;;;i, agalnst loss by floods to tho extent raquired by the Secretary.AII insurance shali be carried with companles approvod —
<br />_�� .�.�. :�:.�- by Letxler.The Insur�nco pollcles and any ranewals shall be held by Lendor end shall Include los�payable clauses In
<br />=::, ���r•�"��w"�� favor of,and In a torm acceptable to,Lender.
<br /> K�r��5�� In the event of loss,Borrower shall give�onder Immedlate notice by mall.Lender may make proof of loss If not
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<br />_u:.,,,;�..� made promptly by Borrawer.Each Insurance company concemed is h�roby authorized and directed to ma e payment
<br /> ��:«.�_�_,_--� for such loss dlrectly to Lender,instead of to eorrower end to Lender olntly.All ar any part of the Insurance proceeds
<br />--- --'��� ma y be a p p lleri b y Lender,at Its optlon,efther(a)to the retiuctlon of t�e!ndebtedness under the Note and thls Ser,urfty
<br />�c.��;'�� Instrument,flrst to any d�linquent amounts spplled in the arder tn Paragraph 3,and then to prepayment of princtpai,or
<br /> -��",'�-�-- (b)tn the restoratlon or repalr of the damaged property.Any appllcation of the proceeds M the principal shall not
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<br />_�,^�� extend or postpone the duo date of the monthly payments which are referred to in Paragraph 2,or change t e emount
<br /> of such paym�nts.Any excess insurance proceeds over an amount required to pay all outstending Indebtedneas under
<br /> ��� the fVote end�thfs Security Instrument shall be paid to tho entlty legalty entitled thereto.
<br /> �=--w�r�-�=� In the eveM of foreclosure ot this Security Instrument or other transfer of title to the Property that oxtinguishea the
<br />-�:�w�����s�1 Indebtedness,all rlght,tiile end Interest of Borrower!n and to Insuronce pollcies In force shall pass to the purchaser.
<br /> -.,�" 'to 6.Qccup�nay,Pro�rv�tlan,Msirnen�nca�nd Protectlon of the Prop�rty;Brxrn�rer'�Loan Apptication;
<br />°" ,�� LsRS�ho{di. Borrowar shall occupy,establist�,ond use the Property as Borrower's princlpal residence wfthln slxty days
<br /> �-? `s'?'!� ' stter ithe w��:.�!!=.^.^f�hla Car_.�rhv In�tnimant and shall contlnue to ocCUpV the P�Operty ae BoTroWe�'9 prltiClpa) -
<br />==`�_�n;�,�..� resldence for at least one year after the date of occupancy,unless the 8ecretary detemnines this ret�ulremQnt wlll cause ---
<br />_._ .�;°t:�- undue hardshlp for Rorrower,or unlesa extenuating c(rcumstances exist whlch aro beyond Borrower's control.Borrower
<br /> ;_�'�� � shall notHy Lenders of any axtenuating ctrcumatances.Borrower shail not commk waste or destroy,damage or
<br /> -.:�-�,_t==�•�- substgntlally change the Property or allow the Property to deteriorato,reasonablo wear and tear excepted.Lender�ray -
<br /> -��-��:��:�,„: Inspact the Properry ff the Property Is vacant or abandoned or the loan is!n default.Lender m�y take roasonable actlon _
<br />�'`��- �1• ex� to protect and preserve auch vacant or abandoned Property.Borrower shall also be In detault If Borrower,during the -
<br />����`�'t:'r�t:.;�:
<br /> - :: loan appllcatlon process,gave materially false or inaccurate Informatlon or statements to Lender(or faUed to provide
<br />�'"`�"� '" ��'� LentiOr wfth any materlal Ir�formatlon)In connectton with the loan evldenced by the Note,Including,but not fimfted to, '-___
<br /> -- . �..w. _,.
<br /> " ' representatfona concerning Borrower's occupancy of tho Properry as a princlpal restdence.If thls SBcur(ty Instrument Is ::
<br />— . • , on a leasehold,Borrowor shall comply wfth the provlsions of tho lease.If Borrower acqulres fee title to the Property,tho �<_ ..____
<br /> leasehold and fee title shall not bo merged unless Lender agreea to the mergar In writing. ' '
<br /> .x, e.Cluiry e�to Barrower mnd Protection of Lender's Highte In the Property. Borrower shall pay all governmental �r'_ -
<br /> � � or municl�aI charges,ftnes and Imposftlons that are not Included in Paragraph 2.Borrov�er shall pay these obllgattons ��--�-_
<br /> . on time dlrectly to the entiry whlch Is owed thepayment.If faflure to pay would adverseiy affect Lendor's interest In the �„�,�:F
<br /> _ ;� Properry,upon Lender's request Borrower shall promptly furnish to Lender recelpts ovfdencic�g these payments. �:����--
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