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<br /> � 1. b�se�!d Pti�ciMl,Lldrr�t ad I,ate� Borcowa sbalt pay ahen cWe i[x principai of,aad intetest ai.
<br /> • . tbe c�t evideacod!y the Note md l�e ch�es due w�der tLe Note. ' � .
<br /> __ 2��M�„kLi.�,�e�at73uca�- .--- - �_B�wer st�al!incl�de in each mo�uhlY PaY��..__.��_ _ .
<br /> : - -to�tder with tbe pdirnpat and iulecest as aet fatt-h in-Tie l�ote a�an�cT'sarges.an i _ -
<br /> spp�ial���a++'•,h levied or W be teVied ag�s[tBe Ptoperty.tb)teasrhotd payaoents or groand ients oo tht Ptoperty.and -
<br /> (c)p�em�ua�s for insur�nce c�equitrd by Pa�ag�aph� :
<br /> Ead�maothtg iast�ltmeat for iums(a),(b)wd tcl sinll eqoal.ono-twttfth of the aanuaf amuunts,as reasa�abty
<br /> esdmated by Lender. p�us.an artwunc w�cient m roaintain an addit�onal batanoe of nat mae than ano-sixth of the
<br /> stun�ed amauus. T[rc fuli mn�i anw�t for cxh itt�shaU E��a�m�f�ted 5�y-I.e�et-within a period end'mg one
<br /> �aaath befae aa itan would become delioqueot. Lender shatl hold the amoimts collectod in uust to pay itcros(a).(b)aad .
<br /> (c}6efae tAey bocame detiaquem. '
<br /> If u any ticne the wtal of the payments hcld by Lender for items(a).lb)and tc).together arith 1Ge fu[ui�e monthIy
<br /> WY�for wch items pay�We m l.eadcr priar to tbe due dates of such items:exceeds by�note than one-siath the :.•:
<br /> es�oat+ed amotmt of psyments toquurd to y such stems w6�due.and if paymsats an tBe Nate are cuRen�tlKn Lender r::>: N.-:._
<br /> -= s1uU either refwd she exctss ovu aws�af tbe estimaud payments ar credit the oxcess over a�e-si�ah of tl�e estimaced - - -
<br /> --= WY����WY�ts by�amwer,at the op6an of Borrower. If the total of the paym�nts made by Barower - ,
<br /> � for item(s).(b).a(c)is insufficirnt to pay the item when due,thrn Borcower sdall pay to Lender any amaunt necessary to �
<br /> maks up the deficiawy on or befae tbe date tUe item becomes due.
<br /> '- As usod in this Savnty Insaument,"Secnetary"�ans the Secrctary of Housing aad Urban Uevelalxnent or hu or Uer
<br />_ " ' designee. /n any year in wlricb tiie Lender must pay a mottgage insm�nce premium to tht Secretary,each montlilY P�Y�t
<br /> =� sdall atso u�clude either: ti�an msplhttent of the anni�al matgage{insurance premium to be paid by Lendrr ta ihe ,
<br /> � Secoetary,or(u)a monthly charge insuad of a mortgage insurance Premium if this Sa:urity in�trument Ls held by tbe
<br /> " Secretary. Each maattily installment of tbe aangage in�*n+�piemiwn sdail be in an amount sufficient w accumuiate die - =J--
<br /> - - fali aanual mortgage i�ce premium with Lender one month priar ta tbe date the full annual martgage insurarice
<br /> p�emiom is due to tbe Secnetary;or if this Security Iastrument is held by the Sec�etar�::e�h monthly charge sliaU be in an
<br /> :.: �a�rteqaal as.�me-tweifth of ono-tiatf perr�It of the autstar�ding princi�l balance dti�S�t�e Note.�
<br />;i : S�".�. '�(f Botr.v�s:ti:Raps to I.ender the�•puyuxnt of aU sums s��ny this S��f.�cum,�rt;$artower's accowst .
<br /> �r�� � ,,' ':�i�im i�r�t��t:�i°s has�Uecome ob��nd:t3�. Pay t��at�a a��dcr'���om�� '
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<br /> _ �' �L:�;;,.: . �...�rx..,°qs fim�•.iu��w�.�I�riu�diately priar ta a fomdrx��sale of tlte Properey cr�.�i;:-�iNisition by Lende�:•9aims�s ' ----
<br /> � { , mraa�its[t�,i�e�ic�v�+�ir��+batance remaining fd�a1�.�>•allmems far items(ay:�,Er1��d(C). � . R--_
<br /> t ;: - :��Ay�ir;fl5�ie d!5}y,tm�m2v. All paymenu unaer�P`hs 1 and 2 shalt be'app�ed by t.endzr as fotlo� � � ya,�y�
<br /> . . . ,:�',i�fii»morigape'i�tance pcemiam to be ry�n,t�-.Lender to the Secretary ar td the mamfi�y charge by tL�
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<br /> =�'l�. :,. .�eta,g i��[ead ofth�.�rrsathly mort�e insusa�r,�e�z.�:r.i:., . � , � _�•- � •; r•.�i��FJ
<br /> �;,�r . � ;��,toanytaxe�;��a,�l,�asses_a�s�nts.teasd�iaii��i�:_�e.�c[s�aQgrourtdseircs;:air��n:.�I����tt�erlr�a�i�".. ` '�- �'�.� _-
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<br /> , �;'�t,]�Q,to intcrest da�:�► �u.�'Ngr�: :..� . , ;t� , ..��� �:����,
<br /> � � �,w amanizai�s�-fi�'��'�f ehe 1'C"vo�' ' . :� � � .. ,,-" �, . : ;''-. ,.-
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<br /> ,t ,.; - , �,ta tato charges due dnder rT�ltc�:e. . :.
<br /> i�. 4y Fire,Fload aad Other H�d X�a Borrower shall insure all improvementa on the Frope�ty.whethcr naw .:!�.�; :
<br />, • in existerxe or sabsequen enected.against any hazard.�,cavualties,and contlagenc�es,including.fire.for which Lcnder � ��.
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<br />� 'y nquins insurancc. This ins�utance shall be maintained in the amauats wid for the penods that Lender requices. Barowet: _.�..-.. '.,�;-,
<br /> ,� . shall'also insure all imptuvert�ents on the Property.whether now in existencc or subsequcntly erected.aga�nst lass by tloods -
<br /> � to the oxtent required by the 5ecretsuy. All insucance sha11 be carried with wmpanies approved 6y I.ender. The insuranco '
<br /> policies and any renewals shall be held by Lender and shall include toss payable clauses in favor of, and in a form ,. . �'�<''��
<br /> acceptable to.Lender. . r.`.`�
<br /> �,.,� '�'��;:'`���•'�" � tn the event of loss.Botrower shall give Lender immediate notice by m�il. Lender may make prc�of of tass if not . �� ._�
<br /> ,� made promptly by Borrower. Each insurance company cancemed is hereby authorized and directed ta make payment for ����__
<br /> , such lass directiy to l.ender.instead of to Bartower vnd ta Lender joindy. Ali or any part of the insurance praceedv may be ' �--��=��
<br /> �; applied by Lcnder.at its dption.eithcr(a)to the reduction uf the indebtedness undcr the Nate and this Security lnstrument. ;�'�_-
<br /> _ - fizst to any delinqueat amounts applied in the order in Paragraph 3,wid then to prepayment of principal.ar(b)ta the _ . - _�,�__
<br /> . . `,_���_ t n,swtation or repa�r of the damaged property. Any application of the procceds to the princ�pal shall not cxtend or pastpona '..�„��,,
<br /> ..,,;,� � the due date of the monthly payments whtcb are referred to in Paragraph 2.or change thc amaunt of�;uch paymen�v. Any ; ,#.�-��_,=
<br /> �"'- excess insuranee proceRds over an amaum tequired to pay all outstand�ng mdebtednesc under the Note and th�s 5ecuaty �?:''';�,
<br /> � .� • .� lnstrument shall be yaid to the entity legally entitled thereto. ,•� �"=—'
<br />- f � In the event of forectosure of this Security instrument or other transfer of'tiqe to the Property that extinguishes the �—
<br /> indebtedness.all righ�dtle and interest of Horrower tn and to insurancc policies in force shall pass to the purchaser. ; �---
<br /> •• - � 5. Occupsn¢y. Pr�ervation, Maintenance s►nd Protectian a!the Property; Sorrower's Lo�an Application: _-�--
<br /> t.ase6olds. Botrower shall occupy,establich.and use the Property as Borrower's principal residence within s�ary days ;�="�_-
<br /> - after the eaecution of Ihiti Security lnstrument and shall rontinuc to accupy�he Roperty as Boaower?�principal residence • � ' �.� :� �:
<br /> ..i� far at least ane year after the date of accupancy.unless the Secretary determines this requ�rement will cause undue hardship � � ••�:
<br /> : .:,�,;, .r��.=" for Borrawer,or unless extenuating rircurristances eaist which are beyond Borrouerti ranuol. 8aaower shall notify � •
<br /> - Lenders of any extenuating circumstances. 8orrower shall nat cammit wsste ar desttoy,damage or subslantialiy change
<br /> � •'-�'�=,,���,' ; .• the Roperty ar allow the Praperty to dctcrioratc,rca.tionabte wear and te.�excepted. Lendcr may mspect thc Property if thc � • •
<br /> � � • Piroperty�s vacant or abandoned or the loan ic in defauh. i.ender may txke reasonable actian tn protect and preserve such ,
<br /> -L���-• �•: t; vacant or abandeMed Property. 8orrawer shall also be in default ii'Borrower, during Ihe tc+an application process.gave ____
<br /> '' '• = materially false ar inaccurate information ar statements to l.cnder for failed ta provide Lender with any matcnal ► � _. _. .
<br /> � �'�`�'�'''' '� infomtaUon)in connecdon with the taan evidcnccd by thr Note.inciuding,but nat limited ta,representatians cvnceming
<br /> . -..x,�.:..
<br /> • �-�E� '�- � Borrower's occupancy of the Property as a principai residcnce. If this Security Insirumcnt is on s IeasehalJ.8oaawcc shail '
<br /> `"'"� ' � comply wlth 1he provisians of Ihc teaac. If Bonower acquireti fce titL�Eu the F'roprrty.ihe teaseho�d and tec title�haU not I •
<br /> �� �_ .
<br /> `��*�=•• � be merged unkss Lender agrees to thc mcrger in writing. ` .
<br /> , �.�"°-�� �= • 6. Chu�es to Barrowce and Protectian ot l.ender's Itiphts ie the Propertv. 13urn�wcr shal)pay all govemmental
<br /> � ,'�_.�. • : ar municipal charges.flnes and imposition�that are nat inrlud�d in f�uraLeraph 2. B�rrnwrr tihcdt pay these obligadoas an � :
<br /> • _ . . - . tlme d3rectly to the entiry which iti owed the{+ayment. If failure tn puy w�rold adversrly uffert Lender's imerest in the � . •
<br /> • Propeny.apan l.ender's request Borrower shall promptiy furnish tn l.endcr rcceiptv evidenc�ng these payments. .
<br /> .� . ' � If B�:riower fails to makt thczc paymeats ar thc paymcnts rtyuired by Farugraph 2.��r fails t�perf�rm suiy other � • .
<br /> • covebants aac�a�teements contained in this 5ecuriry lnswmcnt.ur there is a Icgal prneeeding that may stgniflcantly affect j
<br /> � ' � � Lenetet's rigCts in the P'roperty(such as a proceeding in bankruptcy.far condemnation ur to enforce t�ws or regulatiansl, ;
<br /> . . : ___.A�_._� • �n l.ender rnay dn and pay whntever is necessary tn protect the vnlue af the Propeecy and Lender's rights in the E'�oprrty, i •
<br /> -.. - - -. - - . . including payment of taxes.ha�ar�f in�unu�ce aad ather items memioned in Para=r:spr•2. i_ . . _.
<br /> A ny amounts d i s burse d by L ea der un der t his P:u�a�Crup h sh�il l 6econ�e an ad�;ic:c<;al debt of Bonower ar�d��currd '
<br /> • ,. � 6y this Security tnstrument. Thcsc:+mouatw shalt bear�nterest fmm tt�,,e Qatc of�:spnr�sement,nt tl:�Note rate.�c.:J'at t6e {
<br /> .. optian of Lender.shall be immed's�tely due and payabte. '. : ' �, - -
<br /> � . 7. Condemnadan. The proceedy ot any aw�rd ar claim for da:.r��:s.d;rect or cunsequentiaY in cannectior�:�►�ith azy
<br /> , � , eandemnation�r ather taking af any part of the Roperty.ur for conveyanre in pia,:e ef eandemnaticm.are herr�;�_ass:gned - .
<br /> and shai!be paid to l.ender ta the rxtcm af the full amount af the indebtedness cttar r�lns unpaid under the��a�A thi9 ' `,.�.� .
<br /> ' Security/nstnunent I.eader sha11 apply such praceeds to the redurUnn ot the ind��:�zss under the Note and N.;;�ecurity � �'��"'
<br /> - -_'-__- —_ -- `t�sttum�nt. fit�t to arty ttefinqQem amrnmrs apptied irt the order piwide�i in i*ar.�z;r-.�pir 3�:ia�tlirtt-es,�rr�puyMens�s€ � E-�-�-.._�-. -�._._..
<br /> ' ' , principal. My applicaGan nf the pmceeds to the pnncipal shall not extend ar pnstpone tfie due date of the monthly �' '
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