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<br /> '����•...:Y�.�'.' 1. Payment ot Princlpwl�Interest�nA t.ott CharRa Bartawer chall pay wlten duc the prfncipal of,and lntereat on. __
<br /> " �'"'�"" 7�;=' the debt ovidenced by�he Nwe and IAte charges due under the Nate.
<br /> '�_---�. ' . �.�i_�:.; 2, Maa1WY paymeqp oT Taxes,insurance and Otbe�Cha�tea. Harower shall include in each mrnuhlY puYmem.
<br /> ,�,-�` ''. �': . tagether wilh tF�e priacipal w►d interest as set forth in the Noco nnd+Ny la�e ciwrbes,un{nstal)ment af any(a)tezeR and "�.--__-, _-
<br /> specia!assessmenls levied ot to be levied against the Prapeny.lb)leasehold paymemc or ground ren�s an Ihe Property,nnd �--
<br /> • ��`�`,:.: ' �.. ,�. (c)pnmium�far insurnnce required dy Pruugraph 4.
<br /> . . ., ��� Fach ma�thly installment for itcros (a). (b) and (c)shall cqu�l one•twelith aP the armual amuuntg, as reasonably
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<br /> _ ,. -� -;�_.; -�� eslimated by 4en�ler, plus an umount sufficient to mnintein �n additionel l+alance of nrn more �han one-sixth of t ___
<br /> �- eadmated Amaun�s. The full annuel amount for each item shell be accumulated by l.ender wlthin a pedad ending ane
<br /> �� ...ri .ti month befon att item would become delinquem. I.cnder shall hold the amountc colkcted in trust to pay itcros(a).(b)w►d --
<br /> - (c)bcfore they become de�inquent.
<br /> �' If at any time the tatal of the payments held by Lender for items (a),lb)and(c).�age�her wi�h the fwure manthly
<br /> � �;S;�.: paymenis far auch itams payable ta L.ender pdor ta the due dutes af �uch items,exceeds by more than ane-sixlh the
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<br /> , '-`'���� - esdmuted amount of pnyments r+equired ta p�y such items when due,and if payments an the Note ure curtent,then l.ender ___
<br />' shalt eilhe��fund the eacess over one-yixth oi�he est{mated pnymenlF ar credit Ihe axcess over one•sixth of the eslimated __
<br />.=.� a „ . .�;;�� � , pa�ym enls to aubsequant payments by Borrower,at the option af Borrower. If the tatal of Ihe payment�:made by Barrower �;i:::�-��`-�'°'
<br /> for ite�n(a),(b),or(c)ts in��tficient to pay the item wbren due.then Borrower shall pay to Lender uny amaunt necessory t� ,��___ _
<br /> � ' �; ;•;'? m�ke up the defieiency ae a before the dute the item becoax•s due. _
<br /> �' •�;'"� �' ps ased i►r�his Securit�r Instrur�nt."Secr'etaeY"me'ans the Secretary of Housing und Urbun Development ar his or her
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<br /> •.;, � ' •�' � ' , desigr�ee. In any year in wiuch the Lenckr mus�pay a mortgage insurance premium to the Secretnry,eacb monihly paymem �:;��..
<br /> t�;�r " , �� , slwll a{so incl�de either: (i)an installment of the a�vtual mortgage insurnnce premium �o be paid by L.ender to the �__
<br /> Secretary,or(ii)a mamhly charge ins�ead of a matga�e insurance premium if' this Security lnstrument �s held by the
<br /> � .. Sccretuy. Euch moanhig inytallment�f the mortguge insurance premium aheli be in un sutwunt aufficient to ucrwnutate the !
<br /> � fuU annual martgage iosumnce premium with Lcnder one month priar to the dute the full unnual mortgage insurance �-,-;�•;�'�_;_- '
<br /> , , ".•� � �.. �: premium is due to�he Secre�ary:or if this Security Insirument is hald bY the Secretary,each monthly charge shall be in an :Y ' _
<br /> , ;, " amount equal to ane-nvelith of one-hnlf percent ot the outstanding princ�pal balance due on the Note. s,,,.,_
<br /> '�:ab,a - -,
<br /> • If Bor�w�er ienckrs to l.ender the full payment of ull sums secured by this Security Instrumem,Borcower's account . '�',,.;,,-.
<br /> ^ sha11 be rrcdited with the balance remaining for all installments for items (a), (b)and(c)anct any mongage insurance _-±��===��°`
<br /> premium installment that l.ender hag not become oblisated to pay to�he Secretary,end Lender�hall promptly refund an� ��,;,"-;,:::..-;.
<br /> • ° exeess funds to Borrawer. Immediutely prior to a foteclosure sale of Ihe Pmpeny ar its acquisitian by Lendot.Borrower• i;�;;: �:�,�s'-'
<br /> • accauni shall be credited with eny balance remaining for all instnllments for items(u),(b)and(c). ;:(�''.����.;,�' "`_
<br /> 3� A Icatlon ot Payments. All paymenta undcr Parugrnphs 1 and 2 shall be applied by l.endar a.follows: C�-;�., - __
<br /> �'� ,ta the moKgage msurance premium to be paid by Lender to the 5e�.�ret�uy or to the momhiy charge by�he �_.
<br /> :;�;•. Secrc mstead of the monthly mortgage insurance premium; �__
<br /> ' � .', ' i`. '� 1e .to any taxes,special assessments.leasehold payments or ground rents,aind fine.flood und other f�zard __Y----
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<br /> �� insurance premiums.as required; _—
<br /> ,,;,.;;y THIRD.to interest due under�he ivote: _
<br /> '' , .,, Eou�rr�.tu amortizalian of the principal of the Nore: t"'"" �s.�
<br /> . .. . FINTH,to late churges due under the Note. �'�'�"'"'L
<br /> � ,•'�:•,: ;;,., •,. � 4. Fire,Flood and Other HezArd Insurance. Borrower shull insure al l improvements on the Pruperty,whether now �� yr.a..�;,�,::_ -'-
<br /> • in eaistence or su bseguent ly erec t e d,ugai n x t a n y h u r.u r ds,c asuulties,suid contin gencies,includin g fire,for whieh Lender ;s°;,�s�%:�`
<br /> `�`t�'`' , requires insurance. This insurance shull be maintumed in ihe omoum.r-und for the riods that Lender re uires. Borrower �=�=°°
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<br /> ` ' ' shall also insure all improvements on the Propeny,whether now in existence or tiubsequenUy erected,against lors by flaxls ,ti.,,;.,,,,,t,..._
<br /> � • tothe extent required by the Secretury. All insurunce shull be camed with compsu�ies approved by Lender. The insumnce �"'� ''"�"' ,`� •,
<br /> � policies and any renewuls shall be held by Lender and shull include loss payable cluuses in fuvor oP, und in u form --- ._._ .
<br /> acreptable to,Lender. �`���`��.`
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<br /> ' In the even�of loss, Borrower xhull give Lender immediute noticr by mail. l.ender m•ry mulce proof of losz if not � ���rar.: :;_�.:_
<br /> , ,;,��;• made promptly by Borrower. Each insurunce company eoncemed is hcreby uuthori�ed and directed ta muke payment for �..•�x�.�_
<br /> ��,:,•��, such loss directly to Lender,instead of to Borcower and to Lender ointl All or an un of the insurnnce roceeds ma be � �'�`�°��•���
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<br /> ����''- opplied by l.ender,ul its option,either(u)to the rcductian of the indebtcdne�s under thr Note und Ihis Security lnstrument, •` s , ,,; ._
<br /> . first to uny delinyuent umounts upplied in the ordcr in Parugruph�, und then to prrpaymcnt of principal,or(b) to the .,,, z w-,-=_,4
<br /> , . • rcstoration or repair of the dumaged pmpeny. Any upplicwiun ot'the proceeda�o the prmc�p•rl shull not extend or postpone ::.,�;�,_
<br /> ' • the due dA�e of the monthly payments which ure reterced�o in Purugruph 2,or chan�e tlx umount of such payments. Any �...,• _
<br /> � "'t� � excess insurunce proceeds over un umoum rcyuired to pay all outswnd�ng�ndebtrJne�.under the Note and this Security �;�,'.:; ':. _
<br /> • '. ' Instrument shall be paid to the cntity legally�nt�UeJ thcrrlo. ;',:�,�_:, •_-� _
<br /> In the evcnt c►f foreclo�ure of this Serunty Instrumcnt or othcr trun.fer of tiUc to Ihr Rroprrty that extinsuishes Ihe �,- :z---- `��
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<br /> •� indebtedness,t►U right.tide und intere����f Horrowcr in:uid tu in�urunce policics in(arcr.hull pa�+w�he purchuser. ,.•�•.,�?!.�•:�t�
<br /> ' S. Occupancy, PreservAtion. MAlntenunce and Prutection of Ihe Pruperty; Borrower's Loan Appiicadon; �'��':=•-
<br /> � �i, l.easeholds. Borcower shall cx:cupy.est:�blish,and u�� Ihr f'n�peny u,Borrowrr�prinripal residence wilhin xixty days --'"
<br /> � After the execution of this Securi�y In+trumenl suiJ.hull continue t��ikrupy the Pr�ryxrty a+Hurrower+principal residence "--`^�`
<br /> ' . for at leust ane year after�he Jute of�xcupuncy,unlexs the S�crctary dctctminrs thi.rcywren�rnt wiU cuuu:undue hardship , ,•
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<br /> • ior Borrower, or unless rxtenuuting circunisiunre. exitit whirh are ikyond Burtowrrti cuntrcil. Born�wer xhall notify `.��,�•, •
<br /> Lenders of uny extenuuting circumstanres. Rorn�wer zhall nut rammit wu+te��r ik,tray. dumnEc or sub+tantially rhange r;,;,.;
<br /> '.�, . Ihe Prupeny ur ullow 1he Property to Jctcriuralc,rraxonaMr���rar anJ trar excepirJ. I.rndrr mn}•inw�xct the I'ropeny if thc
<br /> ' . Pn�peny is vucant or ubandoned i�r the lir,ui i,in drfuult. L�ndcr may talr rea�imahlc actiun n�pnnrcl and preservc such ;
<br /> vacant nr ubandoned Prop�:ny. Borrowrr+hall •rltio tx in d�f;wlt il'Bom�wcr. Jurin�Ihc luun applicutian pracess,guve � ��;�
<br /> ` matrriully fulzc or inarcurutc infc�rmatiun ur .tatemcnt+ t�� LrnJcr lor t'ailyd ia pa►viJr Lcnd�r �vi1h uny matcriul ��`.•���
<br /> informution)in connrctian with�hc luan cvidenreJ hy �he Nolr, includinE, hut nut hmi�rd�o, npn.entation�e canceming
<br /> � Borcower's occupu�x:y of the Propeny as a principid re.iJcnrc. U�hi.Srrurity In.aumcm i,un:+Ica,chi�ld.Bort��wer shall .
<br /> • comply with ttx provisioa+of thc Icu.e. If Burr�,�ccr:��yuiiti�Fee fidC lu Ih�Pri��xrty.Ihr Ira+�h��IJ.utd f'�r tillc�hull not
<br /> be merged unless Lendcr ngrcr�lu thc mcrgrr in writin�:.
<br /> ' i . ' 6. Char�es to Borrower and Protertian oP I.ender's Ri�htv in the Pruperl�•. B��rruarr .hull puy all�ov�mmrntal
<br /> or municipul rhurge+, tines and im�xnition+�hat arc not inrluJeJ in Puragr.�ph 2. Nurniw•rr.hull pa)•tlx��ohliFatiom un
<br /> . � time direc�ly ro the entity which i. owrd thr paymrnt. If failur�lu ru}����wld advrncly af(�rt Lrnder'. imrm.t in �hr
<br /> Roperty.upnn Lendcrti rcyuc.t Borniwrr,hull prumpUy I'u�tiii.h tu Lendcrr�reipt+c�•iJrncin�!Ihc+e payment�.
<br /> i If Bormwcr Iail� tu mukr thctir puymrnl� �x thr pu}•mcm+ nyuind hy Parrgraph �,or I'uil. tu �xrtiirn�any���thrr
<br /> _ J covenant.und ugrccmrnt+cuntuincd in thi.Scruriry In.tn�mrnt.�,r thcrc iti:�IcE:d pr�xcedinE th�U muy.i�nitir:mtly•rl'frct
<br /> �.. .�. .,
<br /> —-�-'- LenJer:ri�ht+in the f'rc►Exny lwrh:1� U pnxcetiinE in iuu�eiupi�?.i������iiuiiiiiiuii.:���:7::;:i:.:,.: ...::'.:::"'tL�.:.t:::..,.
<br /> Ihen LcnJer muy da and puy wha�evrr i.necc+�ary tu protec��he�•aluc��f thr I'n��xrty and Lindrr:ri�,h�.in�he 1'nryxrty.
<br /> inrluding puymem of tuxc+.hairrd iiuuruinc and uthcr itcm�mrmiunrd in 1'uraEr:iph Z.
<br /> . Any amount�J�,burxd by LcnJer und�r thi>I'aragraph�hall Ikc��nk :m:�ddw�►nal JeM�,I'HuR�,arr anJ ik .�rureJ
<br /> by thix Sccurity Inslrumenl. Thc.�c+muumti.hall Ixur iNrrr�I frum thr da�c ut�di.buncmenl. :►1�he Nutr ralr.and at�he
<br /> ort�on ot'Lrnder..hall tx immediulrly due anJ pay.iMr.
<br /> 7. CondemnAtiun. Thr pnxrrJ.ul any uw��rd ur rlunn tur dam:�gc,.aiii«��n ..���.�y�.�:t�.;�.���:ue:ne::it�s;••��h:t!�?
<br /> condemnmian nr uthcr t:d:ing��t uny pan uf thc F'n,�ny.�,r fur cunvc�anrr in plar.uf r„ndcmnatiun.:�rc Ikreh�•:�„i�:nrd
<br /> ;md+hull 1►e puiJ to Lrndcr to the eztrm n(Ihc full amuunt ut�thc indrhtcJne.,lhui remain•un��aid undrr�he Na�r:md�hi,
<br /> Scrurity In�trument. LrnJcr+hall apply.urh pnuccd.ta ihr rcduclian�,f thr mdrMrdiu..undrr ihr Nal�•:md da.tirru�it�
<br /> Inswmcnt. t'inI tu uny Jclinyuen� am��unt, upplird in Ihr urJir pri,�iJc.i in P;u:�graph i. :md thrn ��� prrpcn mrnl �,t
<br /> principul. Any applicvti�m uf thr pn►��eJ� lu Ute pnnripal �hall n��t t�truJ ur �x�.tpunr Ih�• Jur d.Ur �d thi� nianthl�
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