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<br /> ��T. 1. p�ymeut ot prtncipal,lnkrext And LAte CharQe, darrower rhull puy whcn duc�hc principai ai',wul intercxt an. _
<br /> �.»- �_�K �he debt evidenced b tho Notc and Iwte chargea due under the Notc.
<br /> ;�a.,;�n.�.`"Ti��� ".� y
<br /> �:.:�:�w�,�:.�,-..:, � t. MontblY pAymeat�of 74zer.l�wurAace and Uther Chargca. Borrawer�hall in�:lude in euch momhly payment, � .. ___
<br /> :���m:'��'�.:,''�`-~ together with the p�incip�l and intcrcst as set forth in Ihe Note and any late chargea,un instnllment nP uny (al taxc�und � _v
<br /> -� �,:., spocial Arsesqsmenta levled or to be levied Aguinst Ihe PropeAy,(b)leasehold payment�ar ground rentx an Ihe Pn�penY.wid _
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<br /> ' i� r J[4A{a/(.r..•
<br /> ���,:y�.,.. (c)premiuma for insurnnce requi�ed by Paregraph 4.
<br /> Fach monthly installment for items (s),(b) and (c) shall equol one-twelfth of the unnuul amoumx, ue reusx►nobly
<br /> � ��°`�-`°�' '� °` � eatlmwted by Lender, plus en amount sufficient ta muintain an additional bulurue of not marc thun �mc-�ixth af thc �--� --_----
<br /> ;�;:»�;aC�:?;� �.`�} ,^'•. ���mq����s. The full annual amaunt for each item shell be accumuluted by L.ender wilhi�a period ending one
<br /> ,��::.ti .;.'-;�.;;,; manth before wn item would become delinqucnt. L.ender shall hold the amounte callected in tru�t lo ppy itemr(ul�(b)wid �.'_
<br /> �,���„�.��.• (c)before they became delinquent. --
<br /> � � ' If at nn time�he totul af the payments hcld by Lender for items(n),(b)and(c).tage�her with thc Pu�ure manthly
<br /> ��fr�wt`.�'iti ri;.� ' y �-
<br /> . paymenls for Fuch items pnyable to Lender prfor to the due dotes ot'such items, exceedx by more �hun one-aixth tho �.,��1 _.
<br /> "''��'• � estimo►ted amount of payments required to pay such items when due.�ncf if p�a►yments on the Note ure current,then l.ender ---
<br />+- �� � Rha11 ei�refu�d the excess over oae-ciKZh of the estimated p�yments ar ctedit the excess over ane-sixth of the estimuted �:?_-_� __
<br /> „�, ::�F:��' . .� . payments ta subrxquent paymenta�by Barrower.at the option uf Borrower. If the total of�he paymentr mude by Bomnwcr �------
<br />�..._
<br />�� � �;;�+5��;;!''.' , . • for item(e).(b),or(c1 is�nsufficient to pay�l�e item when due,�hen Borrower shall pay to Lender ony umount necessary to
<br /> �� ` f' make u the deficienc on or before the date the item becomes due.
<br />, �'��i)'ai � � p Y • _
<br />*r; ; :� . ; As uced in this Security Instrument,'Secre�ury"means the Secretary oi'Flousing and Urban Development or his or l�er
<br />�;••; . .. . designee. In any year in which the l.ender muat pay a mortgage insurnnce prcmium to the Secretury,eac h mon t h ly paymen t
<br />*��',� ' '�`�' �'�r'�' shall also include eilher: (i) an installment of the onnual mortguge insuaince premium to be puid by Lender ta the =
<br /> , '�f°?f�'�� Secretery,ar(ii) a monthly charge instead of a mortgage insurnnce premium if this Security Instrument is held by the
<br /> f.�� :_ . _::,.�..i;.r��Si;�Yy. �_�...-�� _�.--.
<br /> •_ ,-,,;,:.�,;�:,,,., Secretary, Each mun�hly Ins[allment of[he mortgagc insurance premium shall t�e in nn umaunt sufficient to accumul�+te�he �;-�_-,
<br /> �,y,,1 :
<br /> � �c .;•, ',,x��'f��+�, full annual mortgage insurance premium with I.ender one month prior to the date the full unnuul mangAge insurance
<br />� ..; � ' r��v:��4,�'•^ prem ium is due to t h e S e c re t a ry;o r i f t h i s S e c u ri ty I n s t r u m e n t i s h e l d b y�h e S e c r e t n ry,e a c h m o n t h l y c h a r ge shall be in an „f,�;
<br /> ,�:;;,I' ;';y�;�,f iunount equal ta one-twelflh of one-iialf percent of the outstandins principal balonce due on the Note. �"�,�""�' -
<br /> ' �',i; ��:. �;:,s;•.,.• If Borrower tenders to L.ender the full payment of oll sums secumd by�his Security Instrument, Borrower's accaunt ���"` ;Yn =
<br /> ,•° ,�,��n',•.1i„ �R:s„�;,...
<br /> ,; � :.•,.a,�;, shall 6e credited with the balance remefning Por all inxtallments far items (a), (6) and(c) and any mortgage insurance .�;-_,.
<br /> premium inslallment that Lender has not become obligated ta pay to Ihe Secre�nry,and Lender shall promptly refund any
<br /> : ' � ' ' . exccss funda to Borrowor. lmmediately prior to a foreclosure xule of�he Roperty or its acquigition by I..ender,Borrower's �-'•�--���,-���-�=-
<br /> - � ' accamt shall be creclited with any balance remaining for all inslollments for items(a),(b)and(c). =
<br /> � ' 3. A pllcallon oP Paymeats, All paymen�s under Purngmphs 1 and 2 shall be applied by Lender as follows: . -__.
<br /> � �',� �.to the mort a e insurance remium to be aid b Lender to�he Secret or to the montbl char e b the �="'"�`
<br /> �B P P Y �5' Y � Y .x••.s:���.r,.—
<br /> . �"�r'. ' Secre instead of the monthly moAgage insurance premium; 1;.:--•- '
<br /> • ' �a ,ta any taxes,special ascessmenta,leaschold payments or g�ound rent�,and fir�a,flood and other hazard ���,___�
<br />._= lttsucasiCt pr+'miuma,a.�reyuired: �;�.T
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<br />; THIRD,ro interest due w�der the Note;
<br /> ' , �,ta amortization of thc principul of the Notc; �=- -_
<br /> � �,to Inte charges due under the Note. �'��
<br />� � • 4. Flre,Flood And Other Hazard Insurance. Borrower shall insure all improvcments on thc Property,whether now ��:•`---
<br /> �`� � ° i�existance or subsequenlly erecled, ngainst uny huzurds,casualtie�,und conlingencie�s,including Bre,for which Lender �•�`-�"����'
<br /> ,���:;;� � requires insurance. This in�urnnce shall be maintuined in the umuunts und for tha riods thut Lender uires. Borrower
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<br /> 't_' '� ' �" shall ulso insure all improvements on the Property,whether naw in exi�tence or sub�equenQy erected,ogu�nst loss by 800ds ..==:�;,-__
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<br /> ' '' '�. � � to Ihe extent requireJ by the Secre�ary. All insurunco.hull tie curried wilh companie�approved by L.ender. The insurance
<br /> '-•��'• policies and any renewuls shull be held by Lender und ,hull incluJe lass payuble clnuses in fnvor of, und in a form
<br /> . .• �,;�„�,..' •: -_,�-'-�`-; -.�
<br /> �:,�';.,., acceptable to,Lender. �
<br /> In the event af latis,Borrowcr shnll give LenJcr immediutc noticc by mail. Lender muy muke proof of loss if not "'`YT`°°'^��
<br /> � ' . made promp�ly by Bortnwer. Euch insurance compuny concemed is hercby authori�sd smd directed to muke pnyment for «�-_
<br /> such loss direcUy to Lender,instead of to Borrower und to LenJ�r joinlly. All or uny p•rn of the insumnce proceeds mAy be '�'"'�^:'` _
<br /> � . applied by Lender,ut its option,cither(a)to the rcduction of the indebtedne�s under thr Note und thix Secunly Instrument, °._�-..,_;_.
<br /> ' ' first to any delinquent amounGi upplicd in the order in PurugruQh 3, und then to prcpayment of principal,or(b)to the ��•�`�;:LL ---
<br /> � ' rextoration or repa�r of the JamugeJ prop�:rly. Any upplicalion ot Ihe prcxeedti to the prmc�pnl shull not extend or postpone • '�""`�:-
<br /> � the due dete of the monthly pAyment.which ure referred to in Hiragruph 2,or change thc umount of such puyments. Any • ,�°''"'
<br /> 1 � excess insurw►ce proceed+over un umount rcyuimd to pay all omstanding indebiednexs under the Note und Ihix Security _
<br /> , " In4wment shall be paid lo thc entity legully entitled thereto. M'.;�•�.
<br /> ' � In the event of fareclosure oP this Security Instrument or othrr truntiPer af tide to the F'roperty thut extinguishex Ihe -i:-;::._.___
<br /> • � indebtedneq�,all ri ht,tide ancl in�erest of Borrower in and to in.uruncr liciex in furce shull a.�to the urchnser. w•:--'-�_
<br /> ,,. . F (� P' P ., .y,_•.�..
<br /> t „� ,�,;..;.`" 5. Occupancy, Preservation, Maintenanre and PratecNon of the Properly: Borrower's I.oan ApplicaUon; •• �,::�:"`�:-
<br /> • .-��•> Leasei�olds. Borrower shull accupy,c+tablish,uad usc �hr Property uh Borrowcrs prinripal �txidcnce within +ixty daye; ��i!'-.•'`.'r'�:;���:
<br /> � -r•�r.1.�a,��.;1:-:;��..
<br /> • after the execution of'this Security Intitrument und shnU rontinuc to�xcupy the Pmperty as Burrawer�principal rcsidence ,,,,..,,•. .
<br /> ' "' for at lea.4t one year ufcer thc dutr af ocrupuncy,unlexs thr Secrciary detcrmines thiti nyuircment will ruuse undue hardship ��.'`�"',`��
<br /> for Borrower, or unless extenuuting cir�ums�unce� cxi�� which urc Fx�yond Borrowcr: cnntrol. Horrower xhul) notify � • .
<br /> • Lznders of uny extenuming rircumxt�nce�. Bortower shall nrn commit wu.lr��r dr��ruv,dunw�;e or subxtumially chunge ,,
<br /> the Property or rllow the Proprny to deteriorate,reutionable weur anJ�ear rxc•pl�d. LrnJrr may in+Exct the Property if Ihe i
<br /> .. '� Pro►peAy is vacnnt or ubandoned ar the loan i,in defuult. L�nder may Iake reiiyunahlc+ictiun tu protect•rnJ prescrvr such
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<br /> � • vacunt or ubandoned Propc�rty. Borrower�hall ulx�i lk in dcl'uult if Burruwrr. during Ihc loan appliratiun pnxe�+,gavr � '�',.,,t'�:
<br /> muteriully fulse ar inaccura�e inforniation i�r xtutemrntti ta I.rnJrr lor t�uilcJ lo pruvide l.ender with any mutcriul �
<br /> � informa�ion)in connection with �hc li�an evidenred By the Notr,inrluding. hut nut limited to, repre�entutionx concerning ,
<br /> Borrower i�xcupuncy of the Ropeny a�a prinripal resiJrnrr. If thi.Srcuri�y b�.tn�mrnt i�un a Ira.ehulJ.Borrower shall
<br /> . .. � comply with the provisions�►i'�hr leu+r. It'Borrowrr arquirr.ler IiQr n,�he I'r�,�xrt}.the Ica.ehalJ unJ fcr IiU�shall nut i
<br /> �!•:�`. be merged unles+Lender u�.rcr.tu th.mcrgcr in u riting. �
<br /> ' �'' '" 6. CharRes to Borrower and Protection of I.ender'ti RiQhts in the Praperl��. Burcu�vcr.hall pa}•ull�:ovrrnmrntal
<br /> , � or municipul charg�s.tine�:uid impi�sitiun+Ihat arc n��t inrluJcJ in Par•rgraph_'. Burcuw•rr.hall pay thc+r ohli�:ati��m�m
<br /> time dirccdy�o thc entity whirh i. oweJ thr paymenl. If'fuilum to pay «ould �dvrncly affrct l.cnder'. intrm,� in �he .
<br /> Rvpc:rty.upon Lendcr�rcyur�t Hnrrow•cr+hall prumptly t'umi+h to LrnJer rrcei�t,rvidrncing 1he.�pa�m�m�.
<br /> If Bortowcr faih t��mukc Ihc�c payment� ur thc paymrnt. rcyuir�J hy 1'ara�ruph 2, ur 1'ail.tu Ekrt'ami atny uthrr
<br /> �..�...,u��� and aomement�containeJ in Ihi�tircurilr In�trumrnt.or Ihrrc i+a Ireul nnxerdin�!tha� ntuv�i�nificunUy utfcrt
<br /> --- Lender's righ�s in Ihe Pro�nny�wch.�,a pnwerdiiig in hanl.ruptc�. li,r runJemrr,ition ur w rntimr lau�.ur rcgul:uiun+l.
<br /> then I.ender may du und puy wh+ucvrr i�n�rr,.an•tu pmtrr�ihr�•alur��I'�hr{'r���xrty+�nJ Lcndrr;right�in Ihr F'ro{xny.
<br /> � ---.--• _,- including pa�•mcnt of taxc,.hs.�ard in�ur.mrr,m�l n�hrr itrm.mrntiuncd in F'ara�r:�ph_'.
<br /> Any umounts di+buneJ hy LcnJrr unJrr Ihi.1'uru�t:�ph+hall tkromc un addiliunal drht uf Burrowrr anJ Ix ucumJ
<br /> � � ' by this Securiry In.trument. '1'hc��umuunh.hall ixar intem.t from the Jate�►t Ji.hunrmrnt,:ii thc Nutr ra�r,and at �hr
<br /> option ol'Lcndcr.,h•rll tx immrdiatrly duc and pay:�Mc.
<br /> 7. Condemnntion. '1'he pnxreJ.i�f uny aw urd�►r claim tiir dum:igr,,dircrt ur rnn�ryucnual.in runnertiun��uh unv
<br /> ., condemnation or othcr takin�ot ;u�y part ot'the Propeny,ur ti�r cumr��ance in placr af cunJrmnati�m.arr hrrcby a..iEnrJ
<br /> unJ xhull he p•riJ ro Lc�xlrr�u the extern ol'�hc I'ull umuunt uf th�indeMeJnr++that rcmain.unp.ud undri�hr Nutr anJ th��
<br /> Secunty Instrumenl. LenJer chull applJ��uch pnx�rd.to Ihr rcdurtiun ul'Ihr indrMrdnr�.undrr�hr Nule anJ Ihi,ticrurit�
<br /> Instrument, tint a► any delinyucnt am��um. applird in ihr ui�lrr pm�•idcd in ParaFr�►ph �. and thrn �i, prcpa)�n►cm nl
<br /> princip�l. Any upplirution ot ttk pnxeedx w�he principal shall not rx�end ur Ex�.tFxmr thr duc dute ul�thr munthh
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