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<br /> � 1. �hlie4d.LM�+eMt�t L*Ic Ci�r� 8oeeo�va s�l psY wRm du�tbe p�ecipd cf;aa�!�t an. '
<br /> tUe debt�lty�l�ta�e and tMt chr�es�e�Nole. :
<br /> --- - - � ?. 11�tNy�r��et'i�iMt�te a�d Sat�a�va abalb i�schede3tt eae� ph►me�t. _ _ --
<br /> eo�6et�kb tbe ptincip�l�ad bMaaK a��et fath in die Na�e�arry 4�N�e cl�es►m i�taitment of any(s w�es and
<br /> eppcl�i aues�me�kvied 4i b be kvied�pimt tNe P t o p a t y.(b)ieisel�old payaKnts a goound ee�s on tbe�t�cpetty.and .�.
<br /> ' (c)P�forfesu�ece requiKd byY P�ph 4• thG amw�l�na�r�a.as Rara�ty
<br /> • p,�ch maNi�19:im�laKnt fos isaro(ak lb)aed(c)a6all a�tsl arx`t�'e�=°f
<br /> e�Med by lrender, us an�noune aut�icieac a m�in�in�n additiaf�l 6�iv�ce cf rae mo�fhan t�e-stath d d�e � � ,
<br /> - e��rnarti+. �fuit�r�u�E amau�c ia caclE ixm slnl!bc a�by l�endes wittin a peiiod edirt�me -
<br /> � a�onlh betare an item woald beccaae deWiquaM. Leader sAatl hold tbe amqmts cqiiected in tnuc w pay items ts}.(b)and.
<br /> — (c)bpfae d�y becaa�e deiiaqua�� wah the fiMtae nwnthty
<br /> If at�uy time tbe total of We pa hoid by Lender for items(a).(b)and(e).togdber
<br /> . pymn�ts fa aucb i�ems payabk w der pnar`to the due d�tes of sucb ite�c.excoeds dy nnore trian a�tbe
<br /> . ea�mMed�mountd yments toquued to su�h uems wLen da�aod if payu�aUs an the Note�ne c�.tbari.etkitr . . .
<br /> . � abaU eiWer nfimd�eacess over me-s�ttx adm�ed paYments or credu tbe eicass aver one-sixth oE the atua�ted .
<br /> - p�Y���P,�Y�bY��wer,at the aption of BoROaer. If the taql of the payments msde by Hon�owCr ,
<br /> _ " f�ifm�ts),tb).a tc)is u�w�icient w p�y the item wha�duw�Bonawa sfutl P�Y ta�.erxkr any aeaunt nooeswY m
<br /> mata up ibe deficiencY an or befoce tbe daoe the item beco+t�es due.
<br /> -- As used in thi3 Secunty Insuue�t�"Sarietary••maas tbe Satetary of Rausing and Urban Developmeat arhis a her
<br /> desi�ee, In aay ydc in which the i.ender must pay a matgaga iacuran�,r pRmium to the Soctet�ry►.q�cb�a�Iy P�ymen�
<br /> matga
<br /> - sball stiso.iuctude eidja: :fl an installment oF th�annual ma��.w�ce P����P�bY 1�to the
<br />__. Secn�acy,ar(ii)a monthiy charge instad of a moitgage insuiance pemium if thi.s Secuntg Iasmunent�s iuld by the
<br />_�-,j ' Sa�retary. Fscb manhly installmeat of the matgage imvtance paemium shall be in an anau�t wfficimt to aocumula�e tbe
<br /> fuU amwalt�iga�e m�e pranium witb I.ender oae moat6 pnor to el�e date the foll aaauai abortgage in�nce
<br />--_ �aemium is due to tbe�ry:or if this Insdwnent is t�etd by the Sectetary.eacb maithty ci�arga shall be in�n
<br /> `': n
<br /> - .� ,unouoa eqaai ta a�e-twelt3h of ane•nalf pereent�au a�ag�incipzl bala�e aae«►the Note:
<br /> ._�'� If Barowa tendels to Lcnder tl�e full pay�o t of all snms second by this SavritY Insaummt,Barmwer�s account
<br />-..�: aball be cr�edited arith the b�rar�aining f a r a ll �a s t a l l m e nu for items(a).(b)�(c)a a d�n Y m o rt g a g t rt�a�o� .
<br /> premiart,ms�l�ent�tnc Lenaer t�as na eecome a,ligatea w pay to me scc�etary.ane E.enaer sb�u t�nptty�efw�a x►y
<br /> s�.; e x c e s s f u n d s t o B o r m w e r. I m m c d i a t e l y p r i o r t o a f o r e c losure sale of the P t o p e rt y or iu a c q u isition by Lender.Botrower�s
<br /> . '�' ,srccount sball 6e credited with any balar�ce_remaining for aU installaknts for�tems(a),(b)�d(c).
<br /> . � • � 3. A o�P��me�ts.All payments un�kr Pa�agrapIis 1 and 2 sha11 be apptied by I.tndecas foUov��s: .
<br /> to th�mortgage _,ur,.�?-wrance premium to be paid by Lender to the Seccetary ar to the monttily charge 6y the
<br /> • _-" Secretary mstead af the m�1y mottgage insurance pt+etsuum: •
<br /> . � ,f' ,.� �Q,to any taaes.sp�iai assdssments,leasehotd payments or ground nents,and fire.ftoad and ather h�rard ,_ -
<br /> , ; •, iasurance pr�emiums,as r6:;u:---�c'd: .. "r•.� , .
<br /> �Q,w interest due i¢r�s fl�e Note: ;;:�. . .
<br /> �j,w anwnizatio�c:��ihe princip�!of the Not�. .; ;..: .','. .
<br /> � Q��,to late charges d�e�a�der the N'au. , ` ..
<br /> �- .. 4r FirG Fbod aad Other H�d L�rAOe�e. Bomnvver shail insuie all improv�?rrats on the Rnperty,whettxr now
<br /> . . in existenee or subsequently erected,again.aasy�irazards,casualties.and conting�;ine�uding�,for wwch I.ender
<br /> �< iequins insnrutce. This insu�ance shall6e maintained in the amounts and for the petiods that l.ender requins. Bamwer
<br /> : r shaU also insure all impro�e�tnss on the Property.whethet now in existena or su6seqtrently erected.against loss by ftoods
<br /> �' '" ' to the extrnt�equired 6y s�e�ary�. An insura�ce shall be camed with companicsapproved by i.ender. The insarance r
<br />- � �`� -:�"��"�`` poUeies and aay renewats s��be held by Lender and shall inciude lass payable ctauses in favor of. an� in a fortn _
<br /> , • ��r�: . acceptable to.Lender.
<br /> ~ �"•''"°-"'� ln the event of toss.Botrower shall give 4ender immediate notice by mail. Lender may make proof of loss if not
<br /> ' �`} - made promptly by Borrower, Each insurance company concemed is hereby authorized and dimcted to make payment for
<br /> . � sueh loss diiectly to Lendev.�t��d of to Bortower and to l.ender jointiy. A(1 or any paa af the insurance proceeds may be
<br /> �� ' '•' appGed by Lender,at iu opticr�..isher(a)ta the reduction of the indebtedness under the'�ate and thia Security Insdru:nen�.
<br /> - ` � "` �` fnst to any delinquent amounts applied in the order in Para��aph 3.and ihen.to pi�epa�?�esu of principal.or(tvt��ihe
<br /> s;f,fr. ,:.. g f• P P � � Pos'Pone
<br /> . - r ._.. ,, � restoration ar reQair af the dama ed property. My aQp,�ca.`��n of the raceeds to the anr:�z&st:a.f a�:�extend rn � -
<br /> � � . .;�_`•��• �ry.%` � the due date of��monihly payments wh�ch a^�referre�ta in Paragraph 2,or change tha�s��s a`s�Paymenu. A�y =-
<br /> � �• j�-'-� t:==�• �'r:.` escess insurance�scviceeds over an amount uired to�faV all ou�ctandi�1�mdebtedness under the��te and this Securiry �n;�:_
<br /> =y�''•.,- i .{.� r�. �, �'^J 'V �.-.
<br />. ; ..� ,� Instrument sha116e paid to the entity tegally enutled thereta �;�,�_
<br /> !n the evenl of foreclo�of this Security instrument or athcr trunsfcr of ti11e to the Property that extinguishes the =
<br /> - r�.;`
<br /> p indebtedness,all righ�title and:uicerest of Hortower in and to insurance policies in force+haU pas.4 to ihe purchaser. y-
<br /> '' S. pccuppncy, Preser�:+tion, Maintena�ce an0 �'otectloa of the Property: Burrowee's I.oan Applic�tbe; �::�;i`
<br /> ' �'�'' ��' l.qse6old�. Borrower shall occupy.establish,and use uhe Praperty as Borrower's principal residence within sixry days
<br /> r..
<br /> ';.° �.z{� after thr execution af th'ss Seciuity Instrument_and shall r<oniinue to o�y the Ptoperty as Borrowers�pri�cipal residencc � -
<br /> • ,� � for at teas!one year s�fter the d:,ze of occupancy.unless the Srcretary determines this rc��.trement wiil cuuse undue hardship
<br /> • .�{;'��;'"�_: for Borrower.or unlecc ezu�:ing circarristanres exis4 a#�ich �re beyond Barra r��control. Borrower shatl notisy ,
<br /> �:''�t1,, ?-=�:�� I.enders of any eatennating circumstances. Botrawer sha:�not commil waste or devrc',}r.damage or substantiall}�ange .
<br /> • �..,! �, .
<br /> •,�;.,�, . . . • the Praperty or aliaw the Property to deteriorate.reasonable we�r and tear excepted. Lendcr may mspect 1he Pcoper.y if the •
<br /> ' .. _ ., - Property is vacant or abandoned o:_the loan is in defauU. Lender may take reaconable action to protect and preserve such
<br /> - ;•i;".: +�::-:-�= vacant or aUandqned Property. 8orrower sha{I also be in defuutt iF Horrower,cluring the loan application process.gave �-�
<br /> ° ' ;; ''� m�terial!y falce ar inxcurate �nformation or statementv tn Lender (or failed to provido Lcndcr with any m'atenal �,
<br /> +_'�•"�`� � lnforma don)9n cannection with the loan evidenced by the Note,induding:but not[i�-�ited tu.representations conoeming �
<br /> ..'r�..�. �'• .'
<br /> . • . BorrowetF oCCUpancy of the i'topecty ac a ptinclpal residence. lf this 5ccunty lnsittu�eRx iw an u leasehold.Borrower shall �
<br /> ,' ''�=��'��='`•�r: • ' r,ompty with ihe provisions of ihe le�tie. If gunowcr acyuire�fec title to thc Property.cho te:�schoid:u�d fee�iQe shall not
<br /> �+ �� - be merged unless Lender ugrces ta�he merger In writing. E
<br /> � �'� . . 6. Ctia�es to Borrower and Yrotcctlue uf Lender'a Rights ln the Praperty. BoRawer shali pay nll gavemmental �
<br /> � -- � ar municipal charges.t3nes�nd impasitions�hst:ue nat includrd in�ar�graph 2. Barrowcr�hall pay these ubli�tions on I
<br /> � • - tlate dlrectly tv the entity which is owed the pnymcnt. lf failure to pay�YOUtd adver�ely affect Lendcrs intrresl in the j
<br /> � , , � �� Property.upan Lender's requcst Bnrr�iwcr sh:dl prumptly fumi�h to Lrnder mciPts cvidcncin��hr.r payment4. { .;
<br /> � lt darrowrr fall�to make thesc paymcntti ur the paymcntti rcyuire�i by P�aragrupb 2,or fails tn perYorm uny�ther ; ,
<br /> . � r�nvenants and 3�reemen�5 contained in thi4 Srcurity instrument.ar�here iv u legal praceeding ihat may sigmfic.mlly uffect ;
<br /> . . . n ,
<br /> ' • .-' ' Lender?c dghts in the Propedy(such as a puxreding in M;mktuptcy,fur.c�mdcmnvtinn ar ta enWrce laws nr rrgutat4an�l. :
<br /> � "'""�� :' then Lender may do and pay wh�tever i�nc�v:«ary tu prattv:t the vatuc nf thc Property+►tHi I.�nder y right�in thc f'c�perty. !
<br /> _� . . . ' ...�.._ includingp�yment uf taxes.haxard insur.mce and othcrrtemv tnemiuned in P.tragra�h 2. i . .
<br /> Any vmounts disbursed hy lender undet�hiti P�ra�raph�hatl bccome un adtllttE�J1�lI dChl bf NUli(1WCF:llll�6C cCCUfC() � .
<br /> ' ' by this�ecutity lnstrumenl. These amounts�haU brar intcnst from the��te of disbunement,at the Nntc rntc.and at the ,
<br /> ' .. ' aptIon of LetHler.shalt be lmmediately duc and p�yahle. ! �.
<br /> ., ' '� � 7. CoedemnaNne. The prcxeedc oF any:►ward or ctaim for d�mages,direet or consequenti�l.in connerti�m with uny ��
<br /> � ' � . tondemn�tion err other tatcing df�tty patt uf the PtupeAy.or fnr conveyance in place o�cond��mn:►tivn.ate hereby asyicned
<br /> ' • and shall be pald to`L.cndcr ta the extent nf the fuli s�mount nf thc indebtedness ihat rem�ins unp�id unJer thc Neitc artd this E
<br /> ' .. �: � . Secutity instrument. Lender shalt apply surh proceeds ta the redurtipn of th�indebtcdness undcr the Nute:uid this 5rcurit
<br /> _ -`-'_'_ - — — - tnstntmett[. �tse to�y de��[omrts-appheii�r thr vt�cY Jr(uVl� 3ft Pekigiap�t 3.and tken ta}s�r��af - -. �--
<br /> � principal. Any upplicatlan o the proceeds to the pdnripa!sh:ill nut extend ar postpnne the due date of the m�nthly �
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