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<br /> ' aaws++wt—�---___ :w;:
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<br /> ���=�.�.�v..��.. 9z_ a�+��a� - -- - �r_--
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<br /> .ili:6:c���i-�n .'�..�-�'�'_ '.`�
<br /> —_;,,"'�'"P�;w:•' 1. Payment oP Priocipal�Interest wnd Late Cborgc. Barrowcr r�hull pay whcn duc�tK principul uf,„nJ btcrest un.
<br /> -��'"' =�-s`------ the Jebt evidenced by�hc Note and late churgcy duc undcr ihc Nutc.
<br /> =-°�''��""�"' 2. Monthly ps�yments of'Ibxea.Insur�ace and Utber Ch�es. Burrowcr rhull includc in cuch monthly paymcm,
<br /> - � .�,-... .
<br /> ��:�';,�'�_';:F tagethcr wfth the pdncipal und interest as �set torth in thc Natc un uny lu�c churgc.,nn im�nllment of uny (u)tAxcs unJ
<br /> �-; 9�,;� .. : . , speciul asecc:mentx levied or w be levied against the Pn►perty,lb)Ieu�halJ paymcnt�or graund rents on itie Nraperty,and
<br /> ` ° • j�� (c)premiums for lnsuron�e rcyuireJ by Parugraph 4.
<br /> �aC�,��.,r�q:;,'". Each monlhly in�tullment far items (a). Ib) and (c) shuU eyuul onc•tw�ll'th of the unnuul umoum�+, u�rc:asonably
<br /> � ,_ .. ,,,_ ,. ., cstimated by L.ender,plus an umounl sufficient �o moinwin nn udditional bulAncc ��f nw more thun one•�ixth of�he
<br /> p espmated amoun�.. The full unnun) umuunt tur ruh it�m �hull hc accumulateJ by l.cndcr wi[hin a period cnding onc • -
<br /> ..�� c .:� � : month hefore an item wuuld become delinquem. Lendcr shull huld the umuuntc collecteJ in trust�o p•ry itemx(u),�b)unJ �
<br /> , ��i.:• (c1 Nefore thcy become delinquent. _ _
<br /> ;� ',,.�; �.,:.,; ,, If a[any time the tanl of the puymems held by LenJer fnr ilems lal, Ib1 und(c6[ogcther wi�h the future monthly
<br /> ,. . payments far such i�ems payable to Lender prior�o the due du�es of such items, exceedx by mure thsu� wie-six�h the
<br /> _ _ ' estimaled sunount of paymrnts rcquired to pay such items when due,und i(puymenls on the Note are cument,�hen L.ender
<br /> � . shtJl elther refund the rxcess over one-siath of�he estimuted payments ar credit the excrti,ov���ne.sixth of'the estimated
<br /> --- .... ,
<br />_.- _ - � paymcnts to subseyuent payments by BorroW�_r,at the option of Hoimwcr. If the t�tul af the puyments madc by Borrower __—__. __
<br /> -= For item(a),(b),or(c)is msufiicicnt ta pay ihe item when due,�hen B��rrawe�shull puy tu Lender uny amuunt m:ces�ary ta
<br /> --
<br /> �'�`� ` make up the deficiency on or hefore the date the item becomex due.
<br /> ..,. �.:::
<br />,. .
<br /> •-;��'„ � As used�n�his Secuntx lnstrumem."Secrrtary"mewi�the Sccretary of Housing und Urhan[k velopment ar hi�or her �_
<br />==-��•�. ,. . . designee. !n Any y�'in wh�ch the Lender must pay u mortguge insuronce premium to the 5ecretary,each momhly paymen� �---�-- -
<br />,:�'�. '�. � � . shall also include either: (i) s�n in�+tullment of thr unnual mangage intiurance prcmium to he paid by Lender ta the
<br /> ��°' � � "' Secretory,ar(iil A monthly charge insread of u mortgage insurance premium if this Securiry Instrument is held by the
<br /> �� �: • � • , Secretary. Each monthly instullment of the monga$e insurunce premium shull 6e in un wnount suf�cient t�uccumulate�hc
<br /> . � _ - - � fiill annual mong�ge insurance pmmium with Lender ane moMh prior tn thc da�e 1he full s�nnuul mongage in,uronce � �.. .
<br /> ' � . „ .,z premium is due ro the Secretary:or if this Sec:urity Instrument is held b�the Secretary,each monthly chnrge shell be in an
<br /> . . • - amount equal to one-tweltth of one•half percent of the oulstundin�pi inupal b•rlance duc or►the Notc. �--- _- _-
<br />' • If Borrower tenden to Lrnder the full payment of ull�ums secured by thiz Securiry Instrument,Barrower ti uccount
<br /> - shall 6e credited with the balence remaining far ull instullments for items la), �b) und (c) nnd su�y mortgage insurunce
<br /> • ' premium iimtallment thut Lender hac nat t�ecome obligated to pay�o the Secmtury,und LenJer shnll promptly refund an� -___
<br /> , excess funds to Borrower. Immcdiutely prior to u forecla�ure snle of the Property�ir its ucquisition by l.ender,Borrowerh ---�-----
<br /> , � account shall be credited with any balance remaining for all imtullments for items lu).lb)und(c).
<br />, . . 3. Ap�IfeAtion of Poyments. All payment;under Pnrugruphs I and 2,hall be upplicd by l.cnder us follows:
<br /> F1B�T ta the mortguge insurunce prem�um to be pAid by Lender�u the Secrciury or to the munthly churge by Ihe
<br /> ' K • Secretury instead of the monthly mortgage insurunce premium; !�''�``'`"`
<br /> „ ,�,Q�,to any taxeti,special usses,ments,leasehold payments or ground ren�s.and fire,tlood and Wher hw.ard
<br /> " �=� ., insurnnce premiums,u�requ�red;
<br /> �,_ •� THIItD,to interest due under thc Na[e; --
<br /> ' ' . �,OURTFl,lo amortixation of Ihc princips�l of'the Nae;
<br /> • ' ' ' Q�,to late churges due unJer the tVote.
<br /> 4. Flre�Flood nnd Other Hwzard[nsuronce. Borrower,hvll insure ull improvements on the Pmperty,whether nuw �-
<br /> in existence or subseyueNly crected, Ugainst uny hatards,cu+uultic,,und contingencies, inrluding iire, ior which Lender ��'�"°���
<br /> ' ' requires insursuice. This insurunce shall be maintained in the umuuntx unJ for the periods�hat Lender reyuires. Borrower _ ___
<br /> shall ulso imurc ull improvements on 1he I'ropeny,whethcr now in cxi+tencc or subxeyuenUy erected,ag�inxt losx by floals --
<br /> ' to the eatenl reyuireJ by Ihe Secrelury. All imuruncc�hall tx carricJ with comp:u�icy upproved by Lender. The insurnnce ?=f;�:�r:
<br /> � ' �� policies c+nd uny renewals shull he held by I.ender and xhall includc lo�s p•ryrble clnures in ts�vor �if, and in a faRn � -°
<br /> '' � accepu+ble tu.Lender. �a.�?��--
<br /> In the�vent of lu�,,Borruwer .haU givc LenJcr immcdiutc nolice hy muil. Lendrr muy mtJce pnwf of lotis if not ��.--_
<br /> ' •� • mude promptly hy Borruwcr. Euch imurunce comp:my concemeJ i,hcnby uwhurizcJ and directed�u muke payment for �
<br /> .. ,�;,;..
<br /> zuch loss direcUy to Lender.in�le:K1 uf w Br.rrower and tu LenJrr ointl All or an � un oF the inrurunce rcx��eJs mu lx �:'.•" '°�--
<br /> 1 Y• > p P Y �.._ ,�,�:;�Tr:._ -
<br /> ° upplied by Lender,at its uptiun,eillt�r Ia1 to thc reduction of �he inJchlcJnesti undcr iix Notc unJ this Sccurity In�ttument, �,._M�
<br /> first to uny delinyucnl umounts upplied in the order in PuragraPh 3, anJ then tii prtpayment of principal, or(b► to the ���+'t4Z� �_,
<br /> n:storution ur repa�r of the damuged propc.rtY. Ally:I�rlll'JII(1p 11�llll'�1�OL'CllI1 IU Illl'principal�hull na extend or postpone - •
<br /> the duc date of the monthly payment�wh ich :ue referred to in P.uugr:►ph 2.��r rhungr�he amuunt ol'�uch puyments. Any i
<br /> , , cxce�x insurunce proceeds over:ui wnount rcyuireJ to pay ull outstunJmg inJchtedne+s unJer Ihe Note and this Security I . Y p.
<br /> � . . .. Instrument shull be puiJ tu the enlily Irg•rl ly cmiUeJ ihenu�. . ,�o_. -.--
<br /> � • In the event of forecloxure of thi�S�curiry In.rtrumrnt �tt i�ther trun.ler of tidr lo the Property th�t extingui�hrs thc ��'=
<br /> indebtedness,all righl,titic und inurc��uf H��ttowrr in und tc�imurunre p��lirie�in ti►rcc�hall pa.�tu ihe purchaur. 6T�:�:�;�.:
<br /> " 5. Occupancy, Preservation, Maintenancc und Prntection of the Pruperty; Borrower's Loan Applkation; �r�;--��_--�'
<br /> �r_�_�_�
<br /> Lenseholds. Botrower +hull ikrupy.c+whli�h. .u�J u.c thr Property ati I�orrowrr'� prinripal rc�idenc� within�ixty days .,-_.�w-,;
<br /> .;,�'~:�,-;.� _
<br /> �� ' ufler the execution of thi.Security Inslrurnent und shull cuntinue to urcupy tlir Pr�►prm u.B��rruwer�principol re+�dence =3��.�== �
<br /> ['i�.LL-:f.s-I'EO"'_.
<br /> • far at leust one ycar vfler Ihe Jutc ol'cxcup;ui�y,unle»thr Secretary dr�rnnincti thi.rcyuircmrnt wiU cause undue hanlship +�,µ;•:�.��,._:
<br /> f'or Botmwer. or unles�e!ctenuutin� cirrurti�tanccs exi.t which arc Ixyund Hurrua•rr'. r�mlr��l. Harmwcr.hall nolify (
<br /> „ ' � Lenden of;u�y extenuuting rircum.tunce�. Borrower,hall not rummit «�a,tr ur Jr,tr��y,dumagr ur.ub+t:►ntially change !!.
<br /> the Pniperty or allow Ihe Prc�prny to deteri�Matc.rcu�onaMe wrar an�llrar errrptrd. l_endcr muy in�pect tlx:Pm�rty if the •
<br /> Pmperty is vacunt ur ubundoned ur the lo�n i�in Jcf•rult. Lrndrr m�►y �al�c rea,unahlr;�c�ion t��prutert anJ pRSCrvr surh
<br /> , .., vucant or abundoncd I'iro�ny. Horr„wrr,h:dl al.o Ix in .Iclaull if ki��rrowrr.dunng thr luan applicution pnx:cs,. guvc �
<br /> ' materiully Gd,c ur inucrurate inli�nnaiiun ��r �iu�cmrw� t�� Lcnder �ur 1'ail�d tu ,ruvidc Lendrr wi�h uny materiul .
<br /> informatiu�i)in conncctiim wi�h �hc luan rvidenrcd hy thr N,u�. including. hut nol IimiwJ to.rcprcxcnlation+r�mrcrninE
<br /> Bortower'�ucrupuncy of Ihe Pm�xny a,�principal rr,iJrnre. It'1hi,ticruril�•In.ln�mem i.un a Ira+ehi�ld.Bum�wrr.hull
<br /> comply wilh Ihc pnwi+iom i�l thc Ic:�.e. If H�mi►wcr a�yuire,I'rr tiUr t���hr Pm�xn�•.thr Iea.ehuld�nJ trc tide.h�ll not .
<br /> ; be merged unlr++Lrnder a�rec,to Ih�mrr�.er m�snling•
<br /> ' 6. Char�Gc+to Bnrru�►er uod Protrction of Lender'�Ni�htv in thr Propert�. I�urrowcr tihull pa�•all �ovcmmrnlul �
<br /> or municip:d churge..tinc�:uid impu,ilion+thai urc nu�mcluJc�l m P:�ragrarh 3. R��rtowcr.h:ill p:�q thr,c ��hG�uliun+un
<br /> . . - -- - timc JirerUv to ihc cnury whl�h i� u��c�i Ihr pa)ntrnt. If Gulurr 1�� ray ��aulil adv�rti�ly altCrl LrndCl'� intcrr+t in thr
<br /> Propr.rty.upun LenJcr�rcyuc.t tiurruKCr.hallprumpUy lurtu�h �u Lrnd:f Il'll'I�II�l'YIIII'1I1111L(Ill�i p.iynunL..
<br /> If Bortuwcr fuil+ to mnkc thcu payio�ni. „r�hr paynunt.rrywred hy I'ar:��!ruph 2. ur I:ul,a� �xrtumi any uthcr
<br /> , covcnunt�:mJ ugrecmenl+�unt•rineJ in ihi�Srcunl��In•tnmi�nl. ur ihrrr i.:�I�gul pr�xerJing that may .��;uiticantly:dtccl
<br /> Lender�neht�in Ihe F'rxNx�rtv lwch a�a pr�xcedin�; m han{,rurtr�. tur iundrmu:�U�m�w tu rnl�wcr la��•,��r n�ulatiun.l.
<br /> - ----- --- then Lender nury d��and pay wh�trv�r i, nrcr.�ury tu pratrrl�hc�alur ul Ihr Pru�krl�anJ Lrndrr;ri�hts m Ihe Propeny.
<br /> including payment o(iaxey.hvurJ in.uranre:mJ uthrr nrro.mrnuunrJ m Puru�raph�.
<br /> Any tum�unl+Ji,bunrJ hy LrnJcr undrr ih�,F'araEraph.h:dl Ixrum�.m uddiuunal drM ul ItuRUacr and Fk.rrurcd
<br /> by�hi,5ecunty In�trumenl. 1'hr+r anH�um. .hall ikur in�rrc+t Ir„m Ihr Jutc ot'di,hunrmrm.ai the Nute r�te. anJ:u thr
<br /> uption of l.rnJrr.,hall Fx immedia�ely Jur a�iJ p:�yahle.
<br /> 7. Candemnadun. 1'he pnxceJ,uf an�a��ard��r rl:um I�x J;mia�:r..�hrert„r:un�ryurnu:d.m runnccu�m H idi.my
<br /> runJemnution��r othcr ta{�in�of:uty p�ut u(thc!'ru�xrt).ur tnr cumr�.mcr m pl:u•�i,l r��nJ�mu:u�un.:�rc hcrchy a.�i�:nrd
<br /> tutd�hafl ix paid(u Lcndci tu d�c e�tinl��f thc lull at»uustt t•!Ittc!!,+{�`I.trdnr..ih:u �rm.u�n unp.ud unJei�hr Nulr:md Ihi.
<br /> S�tiunry In�Irurornt. LcnJcr�Icwll appl�.uch puxecd.�„�he redu��hun�,1 ihr mdchi«Inr„un�lcr ihr Nulr and Ih�.Serur�t�
<br /> Instn�mcnl. lint lu any J�linqu�nt umnuiN. ,ipphcd in th� nrJrr pi���idrJ m P;u:��r.i��h t. .m�l thrn w �,rrp.��mrni ut
<br /> principul. Any applicuuun ol thc pnxrcJ� w thr pnncipal .hall n��t r���nJ ur pu,tp�mc thc .luc Ja�e �•t ih.• mumhly
<br /> . ��,�er:�•rd fym.�
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