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<br /> L�ANNO. tsaszi5o�s •� � '=�;�-'�-�
<br /> 1.Paymmnt of princl�ni,lntoreat end Lste Charfle. Borrower ehell pAywhen due the princlpal of,and Interest on,
<br /> tho doht c�vld�nccsi by th�NotQ and lato char{�o3 duo undor tho Noto.
<br /> 2,MAnthiy P�yments o1 Yexee,Ineur�rtee,pnci Otiiov�iia`���a. 6orrov+or ohall Includo In cach mon4hly „
<br /> payment.todethor wlth tho princlpAI and Interost as aot forth In tho Nato and any lato chargoe,e►oum for(n)tnxoo And
<br /> upeclal aseoeemAnte lovlecl or to be levlecf aqainat tt�u Property,(b)leaeohald pnyments or flraur�d rente on tha
<br /> �r Propnrty, and(c) �romlum�for Insuran�co roqulrod undor Paraflraph 4. Im m�y ye�ar In whlch the Lender must pay a .
<br /> mortqa�s Inaurance premlum to thc Secretary ot Housln and Urban Dov�tepmont("9ocrotflry"),or In c�ny yoar In whlch
<br /> auch premium woulcl have been requlred if l.endor stitl ho�d the Secur(ty Instrumant,each monthly paymont ehall�Iso
<br /> _ __ _ � � I�icl►.Kle eliiter:(I)�cum for tho cannual mort���e Ineurence premli�m to bo pald by Lender to the Socretary,�r(Iq a -
<br /> � monti�iy charge iri�idu�u4 n����Y�a�o��wu��.i���N�m!�»m!!�h!a GQRUrIty Inatrumnnt Is held bV tho Socretary,�►1 N '
<br /> � reasanable amount to be c�etorminetl by the Sacretary. Except 4or tho monthly ahargo by tho Secretary,thea�Itom� � -- - .
<br /> �� � are called"Eecraw Itema"and the sums pald to LAndAr are called"Escrow�unde.' �, _
<br /> �� Lender may,at any tlme,collect and hold amounts for Escrow Iteme In an a�flregate�mount not to oxceed tho _
<br /> ' �jmaximum amount that may be requlred for�orrawer's escrow ar,caunt under the Real Estate Settlement Procodures ,
<br /> Act o!1974, 12 U.S,C.S 2601 et seq.and Implementln8 regulstlflns,24 CFR Part 3500,es they may be amended from , . :
<br /> time to tlme("RESPA"),except that tho cushfon or reserve permitted by RESPA for unanticipated disbursements or
<br /> �', dlsburaemente before the Borrower's paymonts are avall�bte In tho account may not be based on smounta due for the Y�+*}•_
<br /> � mortgage Insuranco premlum. , �:•=��
<br /> - If the amounts held by Lender for Escrow Items oxc�ed the amounts permitted to be held by RESPA,Lender shall '._Li�
<br /> ' � deal wlth the exceas funds as requlred by RESPA. If the amounts af funds hdld by Lender at any time aro not sufficlent ,,.__--
<br /> �� to pay the Escraw Items when due,Lender may notlfy the Borrower and requlre Borrower to make up the shortage or ',�= -
<br /> � ( deficlerscy as permitted by RESPA. '' ;' �=_
<br /> - I The Escrow Funds are ptedged as additlonal security for all sums secured 5y this Securlty Ins4rument. If Borrower .�";�,:�
<br /> � tendeig to Lender the full ayment of ail such sums, Borrower's account shall be crsdfted with tho balance remaining
<br /> � for ail InstaVlment Items(a�(b),and(c)and any martgage insurance premium installment that Lender has not become ��,
<br /> obllgated to pay to the Secretary,end L9nder shall promptly refund any excess fund�to Borrower. Immedlately prlor to
<br /> � a foreclosure sale of the Property or Its acqulsltlon by Lender,gorrower's account shall be credited with any balAnce __
<br /> •� remaininq for all Installments for(tema(a),(b),and (c). �;��°
<br /> 3,Appltcetlon of Peymente. All payments under Para�raphs 1 and 2 shatl be applied by Lender as fotlows: ..
<br /> � .';- �pST•to the martgage Insurance premium to be pald by Lender to the Secretary or to the monthly charge by the ',�'..,,
<br /> � «� Secretary In�tead of the monthly mortgage Insurance premlum; ,•,;-�-
<br /> E�` D,to any taxes,speclal assessments,leasehold payments or ground rents,and fire,flood and other hazard ... -
<br /> Insu►ance premlums,as requlred; ��
<br /> � � "� ]'jj�gD,to interest due under tho Note; �"'"-'-� -
<br /> _ �L EQURTH,to emortization of the princlpal of the Nate; _
<br />_ - � - Fi�^�iu ia2S CI'iai�oo t3U�;stid�f Ih°N028.
<br /> 4.Fire�Fload end Other Hezard Inaurance. Borrower shall Insure all Improvements on the Property,whether
<br /> '` naw In exlstence or subsequently erected,agalnst any hazards,casuaitles,end contingencies,including fire,for which
<br /> � �:, Lender requlres Insurance.This insurance shall be malntalned in the amounts and for the periods that Lender requlres. �
<br /> � Borrower shall also Insure all Improvements on the Property,whether now In exlstence or subsequently erected,
<br /> - . � agalnst loss by floods to the extert requlred by the Secretary.AII Insurance shatl be carriod wfth companles epproved
<br /> � by Londer.The Insurance pollcles and any renewals shall be held by Lender and shall Include toss payable clausos in
<br /> -,�.. favor of,and in a form acceptable to,l.ender.
<br /> �.•„ ,... ' In the event of loss,Borrower shall glve Lender Immediate notice by mall.Lender may make praof of loss If not _
<br />: . . . ,;. made ptompUy by Borrower.Each insurance company concerned Is hereby authorized and directed to make payment _
<br /> � - for such loss directly to Lender,Instead of to Borrower and to Lender loirstly.All or any part of the Inaurance procaeda
<br /> � � may be applled by Lender,at fts optlon,either(a)to the reductlon of t{�e indebtedness under the Note and thlo 8ecurftyr
<br />� ,�� ,rti- ` Instrument,first to any dellnquent amounte apptled In the order in Paragraph 3,and then to prepayment of princlp�l,or
<br /> - - � (b)to the restoratlon or repalr of the damaged properry.Any appilcatlon ot the proceeds to the pr(ncipal shall not
<br /> � � , � extend or poatpone the due date of the monihly payments whlch are referred to In Peragraph 2,or change the amount �
<br />� ;;�;,;,-�• �� of such paymeo�te.Any excess Insurance�roceeds over an amount required to pay alt outstanding Indebtedness under
<br /> _.,,_:,_, � � � tho No4e and thte SQCUrlty Instrument shalt be pald to the ontity legaily entitled thereto.
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<br /> :.��. In the event of foreclosure of this Secur ity Ins trumen t ar o t he r t r a n s f e r o f t i t l e t o t h e P r o p e r t y t h a t e x t i n g uishes t e
<br />�'���'�' " '"�" indebtedness,all rlght,title and Interest of Borrower In and to Insurance policles In force shall pass to the purchaser.
<br /> � 6.Ocaupsncy,Preservatton,Malntenance end Pretectton of the Property;BoROwer's Losn Appltcetton;
<br /> �; --_--.� Le;,;o,a�c. Borra+:rcr�hal!occupy,est�b!lsh,anc�use th�Property as Borrower's princlpal residence wfthln sixry days _--____
<br />- •��,�..- r� . aftertho execution of this Security Instrument and shall continue to occupythe Property as Borrower's princlpal
<br /> y=�, , realdence for at least one year after the date of occupancy,unless tha Secretary determines thia requiremsnt wlil cause
<br /> -: • =���- •��' � undue hardahip for Borrower,or unless extenuating circumstances exlst which are beyond Borrower's control.Borrower
<br />�-�` �`��• � shali notHy Lenders of any extenuating clrcumstances.Borrower shail not commft waste or destroy,damage or __ _
<br /> -�-'°;:;: -� substanttally change the Property or allow the Property to deterlorate,reasonable wear and tear excepted.Lender may __
<br />_'�--� � �; � Inspect the Property If the Properry is vacant or abandoned or the I�an Is fn default.Lender may take roasonable actlon _-_� �_
<br /> = � •'� ,,;�.�• to proiect and preserve such vacant or abandoned ProRerty.Borrower shall also be in default If Borrower,during the ��-=_T^-�-
<br />- .i•. loan appltcatlon process,gave materially false or Inaccurate Information or statemen ts to Len der(o r t a i l e d t o p r o v i d e �•—=-=:=
<br /> ��n���.�.-.
<br />- � ��p' Lender with any materlal Uformatlon)in connectlon with the loan evidenced by the Note,Inctuding,but not Ifmited to, ��:.,�_.._..��{
<br />_ � � represontatlons concerning Borrower's occupancy of the Property as a principal resldence. If this Security Instrument Is ��,�.._,1��,:�,._.
<br /> on a leasehold,Borrowcar shall comply w(th the provisions of the lease,If Borrower ac uires fee tltle to the Property,the ' ='�"Ts'•��:�-F
<br /> q •f; ' �r.�
<br />- ;. � leasehdd and toe title shall not be merged unless Lendor agrees to the merger In wrlt(ng. '�°�� `' �.�::,
<br /> ����
<br /> 8.Charges to�orrower end Protection ot Lender's Rights in the Proporty. Borrower shali pay all governmental ��k :�:
<br /> � � or munlcipal charges,fines and impositlons that are not Included In Paragmph 2.Borrower shall pay these obligatlons � �. ,.�;;'
<br /> F:•�-�,�:w�-,•
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<br /> - ; S on time dlrectly to the entity which Is owad the payment.If fellure to pay would adversely affect Lender's Interest In the :.:,.t�.,,�.�.:.. .
<br /> • Property, vpon Lender's request Borrower shall prompUy furnish to Lender rQCeipta ovidencing these payments. ���,: :.s.:,.
<br />- ' If Borrower faAs to make these payments or the payments requlred by Paragraph 2,or fails to perform any other �''�r�l;�,: _
<br />- c�venants and agreemonts contalned In thls Securlty Instrument,or there Is a logal proceeding that may slgniflcantly �-••- • •. .
<br />' _ __---�-- -°--- . . . . . .. .. _....._..-'- --------Y,�....i..►..,.,�.��.a...,t.,.�nnrinmru�tlnn nr tn anferce laWS O� .
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<br /> regulations),then Londer may do and pay whatevor Is nacessary to protect the value of the Praperry and Lender's
<br />_ rights In the Property,Ic�cluding payment of taxes,hazard insurance and other Items mentloned In Paragraph 2. .
<br /> Any amounts disbursed by Lender under this Paragraph shall become an additlonal debt of Borrower and be
<br /> ' . secured bythls Securiry Instrument.These amounts shall bear Interest from the date of dlsbursement,at the Note rate,
<br /> and atlhe optlon of Lender,shail be Immedlstely due and payable.
<br /> -� • a.Condgmnatton. The proceeds of any award or claim for damages,direct or consequential,In connectlon wfth
<br /> . any condemnatlon or other taking of any part of the Properry,or for conveyance In ptace of condemnatlon,are hereby
<br /> � asalgnod and shall be�ald to Lender to the e;ctent nf the full amount of the Indebtedness that remain3 unpald under the
<br /> - ' Noto and thls Securlty Instrument.Lender shail apply such proceeda to the reductlon of tho indebtedness under the
<br /> - ' � Note and thls Security Instrument,first to any del(nquent amounts applied In the ordor provfded In Paragraph 3,and �
<br /> , � then to prepayment of principal.Any applicatlon of the proceeds to th�principal shall not extend or postpone the due
<br /> � FHA PIEBAASKA DEHD OF TRU8T ��95 '�
<br /> '� . ISC/FMDTNE//OG91/(b•95)-L PA�E 2 OF 4
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