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<br /> . ' � Each moethty iastallment for ittms ta).(b},and(c}shall equai one-tvrdtth oi the anm�l�nwunts.as reasonabty�aied -
<br /> � by Lcndef,plus,an amoiu►t sufHaea�to maintain an addidotutl balma of riot more than'c�ne sizth of thr estimat�d�amounts.
<br /> The fult�nnuai amount far cuh item shaQ be accumulated by Lender wittin a pe�od endiaa one month before an itaa vroutd
<br /> __ _ ---- _.:.�...bocame_deii uent.-l.eadasl�atthntdttie.���t„c�rntkctedintruceto�yitertbs(aLi�1.�.�1��.bt!'oret�.re�oine�uent. __
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<br /> - Ii at any time tiu total of the payme�cts�eld by Lender for items(a),(b),and(cl.toggther with the future nionthly paymmts
<br /> - - - -Coi sa�i ite�ir�s payabte to Ltnder priar to tlu du�dats.oF3ach items.exceeds-�Sy-mare than one-sixctt the-fsttmated amo�nt
<br /> of paymenu nquired to pa��such items when dne,and ii payments as�the Note are surrent,thea Lender shall either reiund
<br /> the a�cess over ono-siath of the estimatect paymenu or etedit ths exces�ovu one-sixth of the estimated paymsnts to subsequent
<br /> — - y. � _ `paymenu bY Borrow�,a�tfie o�cian of Barr��.if thr tutat of ihe paymenu�sacte by[�es�r for ittm(a}.tb).flr(c)
<br /> - -= is irisuffiaent to pay the item vah�n due,thcn Borrower sdall pay to Lendar any amount necessary to makt up the de�aency
<br /> --- on or before tfie daie the item becomss due. , -
<br />�;a,.; - As used'm this Sccurity lasuument,"Secretary"means the Sccretary of Housing and Urban Devdopment or his or her
<br /> - designee.Most Secvrity Insttumenu insurod hy the Secretary are iasured under programs which requin advance payment of
<br /> - • tbe eatin mortgage insurance premi�.if this Security Instroment is or was ituured under a program wbich did aot require
<br /> - advance payment of tbe encire mongage insurance Frani�rn.chm each monthlY AaYment shaU atso include dtber.{y an iast�limeat ,
<br /> of ihe annual mortgage iasurana premiwn to be paid dy Lender to the Secreta�y,or ri)a monthly cbarge instqd of�mort�age
<br /> insuranet premium if tdis Security lastr�ment is hdd by the Secntary.F.ach moathly installmant of the mortgage insurana
<br /> -- premium shall be#n an amount safficient to accuzaulate the fuil annua!mortgage iasarana pnmium with L�ender one mopth
<br /> � � prios to the date the full annual mortgage:n��++oe premium is due to the Secretacy,or if this Security Intitrumeaf u hcld
<br />. 1,' by the SecretarY,each taonthly cbarge sFsa�tt�e in an amount equal to oae-twetfih Pf one-half perant o€the outstandin8 P�P�
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<br /> ,;T`�, balance due oa the Note. '
<br /> : !f Bonow�r teade�s r�Leadec'tLie£�1 PaSmtent of aIl sums secared by tbis Securiry�:s?s'-�ent,Honower's account shall
<br /> ''`'"�:' -°,. .-�ae i�e�ute��th the ba?�:��c�g�.for all instaAmqnts fos�ems�a?,(b)•and{c)?��.a�y morrgage ns�suzaace t�emium
<br /> t;�7:` . , i�ssall�sen�a$saE Lendes has�becnme iibligatal io pay co t6°Sr�¢acy,aad�.ender sl�zal�p��mp�Iv�i�3 acy accxss ffunds �
<br /> -. . �� "fa�n�¢sw�:.i�ta�u�IF Pi��r ta a folxtospre sale of the Psageity m�i�s.acquisitioa by�e�der.Barr�wer's acc+au�'s'fsatl
<br /> "� � y��f� , .�Fi,t:: he credite$.aiil'r'an}ba3aa�r�amin�for abt i�a.�sats fesr items(a�},Qb?,a�3(�?• �� . , �
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<br /> ..... "�.;"•,�,`���s<<�. .. �,�;,�9p�d�Uo�i at Payeeats.A4};�say��t��sader paragraPhs 1 and 2 sl�aU be appiiec2:Yzy L.euder as foltows: . E;a-� _
<br />. � •�;it��:' �'� �=-si,ro the mortgage insarance�t�mium"ta b�.paid 6y Leiider to fhe Secretary or ta tbe montltly charge bq ttte Secr�etary°° y;� �
<br /> mstead oi'the monthly mortgage insurairce premium,unless Borrowcr paid the entire mortgago insurance premium when this :,,, �,��--
<br /> . • - � _ Security lnnsuumsat was signed: • •:��s,-��""""i
<br /> � . ' Second,to any taxes,special assessments,leasehold payments or ground cents,and fire,flood and other hazard�insurance �`���.
<br /> . . ' � premlums.as required: f�,. �.;�k �--
<br /> . � �,to inttrest dua under the Note; . �.�;;�
<br /> �`� Fourth.to amortizatfon of the principal of the Note; � -.•�:�
<br /> ' � . �_ .. Fiftb.to late charges due under the No�e. ' ' . � �_
<br /> . � • 4.Firc,Ftoo�a�d ptier�rd lasnrs�ce. Borrower shali lnsure all improvements an the Propeny.whether rtow ia , , ;��
<br /> - exlstonce or subseguently ereeted�agatnst any hazards,casualties,and eonringencies.including fice,for which Leader requires _„�;
<br /> ' � tnsurancr.This insurance shall be maintained in the amounts and for the periods that Lender requires.Bonower shall also �
<br /> � • insure all improvements on the Property,wfiether now in existence or subsequently ecected,against toss by flaods to the extent • :
<br /> ' required by the Secretary.Alf insurance shall be carried with companies approved by Lender.The insurance palicies and any ��s�
<br /> , '- renewats shall be held by l.ender and shall include loss payable clauses in favor af, and in a form acceptable to. Lender.
<br />� - � �. . ' In the event of loss,Bonower shall give Lender immediate notice by mait.Lender may make proof of loss if not made l • , -
<br /> ' '� � ptomptly by Borrower.Each insurance company concerned is hereby authorized and directed to make payment for such loss i . -�
<br /> � � - directly to L�►der,instead of to Bonower and to Lender jomtiy.All or any part of the insurance ptaceeds may be aODt�� . -
<br /> ' � � by Lender,at its option,either(a)to the reduction of the indebtedness under the Note and this Security Jnstrument,first to � , ,:, ,
<br /> any dellnquent amounts applied in the order in Paragcaph 3,and then to prepayment of principai,a:(Is)to the restoration �':'��_� �• ,
<br /> � � � or repair of the damaged property.Any aDplicatian of the proceeds to the principa)shall not extend or ysostpone the due date , �;.� �• �
<br /> ' � of the monthly payments which are a��ef8rred to in Paragraph 2.or change the amount of snch ayments.Any excess insurance '� '���- ' '
<br /> ° " • • �- proceeds over an amount required to�ay all outstanding indebaedness under the Note and this Security Instrument shall be � �-:�1`.�`�°�"'_
<br /> , ' • ' �aid to the entity tegally entltled iha�r:to. I , i,;;i�� .�X:?_
<br /> � � Ia�t1�e event of foreclosure ot'this Security llr�ssrnment or other transfer of title to the Property that extinguishes the ! � �_-
<br /> � � ' indebtedaeess.all right,title and interest of Borrower in and to insurance poticies in force shall pass to the purchaser. ti � ,
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<br /> � i , � 5.Freaerv�Non and Maletee�nce ot the Proyerls.l,easeholds.Borrowes shall not commlt waste or Qestroy,damage or � ; �
<br />• � . ' . substantially change the Property or apow the PcoDerty to deteriorate.reasonable wear and tear excepted.Lender may inspect . � •
<br /> the propeny iP the proDerty is vacant or abandoncd or the loan is in default. Lender may take reasonable action to protect ,.
<br /> ` and preserve such vacant or abandoned property. li this 5ecurity Instrument is on a Ieasehold,Borrower sha11 comply with :
<br /> • the D�avlsions of the tease.lf Borrowcr acquires fee title to thc Propeny,the leasehold and fee title shaA not be merged nnless j
<br /> . . � L,ender agrees to the mcrger in writing. �
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<br /> � - ' 6.Chsrte.+to Borro�rer and PrateNion o!Lender's R1Rhts in the Properly.Horrower shall pay all govemmcntal or municipal
<br /> , �� � charges,Pines and impo�itions that arc nat inctuded in paragraph 2. Borrowcr shall pay thcse obligations on time directty to . �
<br /> ' _ the rntlty which is owed thc payment,ts t'ailurc to pay�vauld advcsscly affect Lender's inurest ln thc Property.upon Lendcr's .
<br /> . � . request Borrower shall promptly Purnish b Lendcr reccip�s evidcncing thcsc payments. .
<br /> � ' �lf gorrower fails tn make thrse payments or the payments rcyuircd by Paragraph 2.nr fails to perfbrm any other rovenr�nis
<br /> ' . and agrecmcnts contained in this Security Instrument,or thcre is a legal proceeding that may signi�rantly ai'fect Lender's rights
<br /> . ' in the Property(such as a procceding in bankruptcy, tor coneiemnation ar to enforce laws or rcgulat}ons),�hen l.ertder may
<br /> • do and pay whatever is necessary to protect thc value of the Propec�y and Lender's rights in the Property,lncluding payment .
<br /> - . - of laxes,hazard insnrance aad other items mentioned in Paragraph 2. _ . �_
<br /> � Any amounts disbursed by Lender under this Paragraph shall become an additional debt of 8orrower and 6e secured
<br /> ' ' by this 5ecudty lnsttument.These amaunts shall bear interest from the date of disbursenent.at the Note rate. and att the . . •
<br /> � . � option oP Lender,shall br lmmediately due aac�AaYable. ' : •�
<br /> • ' ��'�� � � 7.CoeQemeadoe.�'he proceeds of any aa�rd or c6aum for damages,d1re�K or consequenda�.in ccsnneaian�sith any �
<br /> - �; '� "' �._���':,�. � couder�aation or other taking oF a:y pasT oE Lhs�r.��erty..�#'or conveyance in place at ronQemnatioa,are hereby assi�ned _ .
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<br /> • and shall be P�d to Lender to the exteaf o�n�e f.,;.�a.�o�:�i o�the i�tdetre��:�ss th�c r�tr�ins unp�i�un�er thefi'race�scf tim-. . -__°_-=�...:�----..: ---=
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<br /> ;; ' Securlty Instrument.Lender shall a�p.y suctc�:��."'eeds ia.the reductian of�S:e irtdebteCr.ess undes t�e.Note a�d this Securisy ' ,
<br /> ' � lnstrument,iirst to any delinquent amovnts a��::d in the order provide4E�t��ragraph 3,and tken to pzepayment of principaf.
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