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<br /> • L,hj�wt dltLei�W,Lle�+dt t�Late Clw� Ba�+ower s1iaU pay vrhen due tho principal ot.�pd i�ecest+m.
<br /> 8ie debt avidaroed by t�e Note�odlue cbuges dae�mder ihe Nuf�. •
<br /> � 2. MoNWy p��n�}d 71aes,i�weaaoe a�d Otier Cliar6es Bo�mwer shall include in each monthty paytnent,
<br /> '�1nBWxr wifh tbe piocipd aod iata�st�s set fonA in the Note aad�y 1ue cl�arges,aa instailrident of any(a)bxes and
<br /> special asses�ents kvkd or w be kvied agaiust tl�r P�paty.fb)ka.se�payments ar gmaod teais an tha Ptvperty,and =_-
<br /> (c)Pmn�wns fot insuranoe�equi�bY�S�P�4• ' ,.
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<br /> --- -_=-_��- �-' � . ' €a�.'€b2--�tcj s!�!�-o«-t' - . . _�.�IY: ` .�__
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<br /> — eaimsted iry irender. p�us aus amowu sufticient to mainrain an additioaal bat�af na marce than aaasu�th of the � < �,-�_-
<br /> --.�__�_. _ _ �ared�o�mts. T6a.fuit umwd�t far eacit ium shali 6e acwmniata�iry i.e�da within a period eeding ane rx'�_ - - --------
<br /> — ma�nth Ixfore aa ioan wouW becane detinq�enE. l.ender s1�1i Iwid the amonntg colkaed in�ust to pay iums(a).(b)add -� - �-
<br /> — -T . (c)befaethey�eco�aedelinquent. . _ ,�-� - _!
<br /> if at any time the ta�l of tbe payrtrents t�eld by Lender for items(a).(b)and tc),.togettxr with tbe fature monthly - ��_
<br /> psymaWs for st�ch iterac p;iyaDk w L�ender piio�r to Ehe due dates of su�h itea�s.excoeds by moie than one�sistb tt�e �'-����.,:,-
<br /> �' e.Wmatod atiwvut of paytnpepts�ca�uued topay s�xfi iums wlxn du�aad if payments an the NaDa aac cunen�then Leader =���"
<br /> _- sl�li either�efiuid the euaess over oae-sixth of the estimated paymenu or c�edct tt�e excess rner oae-sixth of the eswnated -_ �- .`�
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<br /> . P�Y�����9��P,aY�ts 6y Bormwer,at the optian of Bariowa: If the total of tUe paya�ems m�de by Borrower __:..:.-��'��
<br /> � ° • for rtan fa).(b),or(al is u4wfficia�t w pay the item when dae.tben Bo�auer sha11 pay to l.ender any amount aecessa�y to -:,�,�'` . � '��`-�`
<br /> � make up t6e deficieancy on or before tbe date the item becomes due. "..�: t-,
<br /> ,�„�ix. .�..., •_ . .
<br /> As used in this Satuity Insuwaeat,"Seccer�Y"means tLe Seccetary of Housing and Otban Deve1oprt�ent or his or her . :,:-:. -s: ,.�- � t-
<br /> � designa. ln any year in whicb the Lendec must pay a moccgage iasurance prem�um tu the Sscnetary.eac6 monthlY PaYmen� , �.-��.-`_ .-,
<br /> w I s6aI1 alsa itsclude oither. (7���t of the annnai mortgage iasutat�ce premiam to be paid by Lender to the .. :_:�.�_:--°"
<br /> Soccetuy,or(ii)a manthly charge instead of a mortgage inswance premium if this 5ecurity Instrument is held by the , _��;
<br /> .•�t _ .�, ' Soc�etaq►. Each arontAty mstaillment of the martgage insurance.prernium shall be in an amount sufficient to accumutate the -_ - -�r ..::_��'�,-
<br /> �'•.=�• f u A aauua i m o t t g age u�u a n�x p c e m i m n w i t h L e n d e�o n e m o n t h p i i o s t a t h e d a t e t t ti e f o l l a r m u a l m c R t g a g e i n s u r a n c e •• _ _
<br /> pnmium is due to the SecntacY;or if this Sec�aity Instiurtiec�is betd by tt�e Secnetary,each monthIy charge shall be in an � `:� _- ��.
<br /> _ :` aaiauit oquai to ane-twetfth of ane-half penertt of the outsta�s�principai balance due ma tbe Note. - . ,. �-�=�
<br /> •..�` If Honower�endets m l.ender tbe full payment of atl s�s seCUnd by this 5ecurity Iamu�nent,Borrower�s acoown � • ' ' _
<br /> �. '� � shaA be c�editod with the baianc�remainiag:for all u�ctal�iit�far items(a),tb)ad�"te)and anY mortgagc insuranee ', � r _
<br /> . L��;'„�.�-_�.'�.. . pnmium installment tliat Leniler hac not become obligated to pay to the Seeresary�and Lmder shall P�P�Y refnnd an�r - . ` • � =-
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<br /> ts,�<�,-;�.� excess funds w Borrower. Immediately ptia�to a foaectostue sale of the Property or its acquisition by Lender.Barrnwer s . .".--
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<br /> _ _ „. aeca�mt sh�A be ecedited with anY balance rc�m�S fbr atl#t�statlments for items�a)_.fb}and(c). , �. '- --- - ._
<br /> . 3 A Ik�Hon at P�pmeats.All paymerrts undet Par�tgiaphs 1 and 2 siial}6e apptie�by Lender as follows: -"':;�,r':,.:; ,a,���,'
<br /> � °:.s��-�:`_t.,'�i�: :: �to the mortgage insurance premiwn m be paid by Lender,to the Secretary oi W the monthly charge by the :.` ' - ��_
<br /> '�` - Scc�etary insuead of the monthly martgage ittsuranee premium• . ` . -a`-=��'
<br /> ..t •* �[�..r-.i;'•. . . � • ' 'f ,' :a
<br /> � . -- . SEGOND,to any taxes.sPecial assessments;leasehold paymeliu or ground tents.abdfire.ftood and other hazazd • . � aE •�.:.
<br /> � .'. insurance piemiams.asrequired; . ' :�=.
<br /> � -- - �]$Q.ta interest due under the Noto: , . •
<br /> ` •.�-.`�:���;: <" - ��to amortization of'ttie prineipal of the Note; � �'
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<br /> . � . �,to late charges due under the Note. -.• ':`
<br /> - :`._ . :�:� c . 4. Fi�F7ooA�nd Ot6er Auaed Iasarnoca Bocmwer shall insu�at}improvem�►ts on the Pmpetty,whether now � ; :;,.-.• ?', ,:
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<br /> �;`,, �� ':,.•. _ m e x�tence or subsequentl y crccted,a g ainst an y hazards,c�sualciew.and c�:atia gertcies.inciuding fice.for whfich I.ender �...�,,
<br /> ,, .� .,. ,. _ c e q u i r e s i n s u r a n c e: Th'u i n s u r a n c e shall b e�u a i ntamed in the amounts and€os the p e r iod�s that ixnder r quires. Bortawer �
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<br /> ' shall also insure all improvements on the Property.whethsr now in existence or subsequentty ecected.agamsllass by iioods - ��
<br /> '� 't �. to the extent requfred by the Secrelary. All insurance shall be cariied with companies a}��rav e d by L en der. T he insuranee � .. .�
<br /> , ��` � policies and any renewals sha]2 ke hetd by Lender and shaU inclade 2oss payable c�aNs�s in favar of,and in a form . �
<br /> . , � • � acceptable to.l.ender.
<br /> � . In the event of loss.Borrower shall give I.ender immediate notice by nnail. l.ender may make praof af loss if not . -
<br /> � . . - made promptly hy Botrower. Each insurance company concemed is hereby authorized and directed ta make paytnent for -
<br /> � � . such loss directly to Lender.instead of tv Borrawer and to Lender}aintly. Alf or any part of the insurance praceeds may 6e . - • � _
<br /> ' - ' applied by l.ender.at i�s optiort.�ither(a)to the reduction of the indebtedness under the�Vate and thic Secunry Instrumen� �
<br /> � - fisst to any delinc�uent amounrs�plied in the ordct i�Paragraph 3,and then ta prepa�TSent of principal.or!b)ta the ' • '
<br /> ' ," . restotation or repair af the darr.���praperty. Any application of the proceeds ta the pnrac��al sha11 not extend or pastpone �
<br /> the due d�te of the monthly payments which are referred to in Paragrap!►2.ar chan�e sh.amount of such payments. Any � �
<br /> excess insurance proceedc over an amount requucd to pay ail outstand�.-�r�debtedne�c under the Nate and this Security � • �
<br /> ' ' Insiroment ahall be paid ta thc entity legally entitted thereto. .. '
<br /> . ln the event af foreclosure of this Securiry lnstnrment ar ather trari�::r of titic t�the Prapeny that extinguishes the , , .
<br /> �-.. � iadebtednecs.all rigl►t,title and intcrc�t of 8orrnwer in und to insurance policiec in farcc shall pass to thc pucchaser. . , .._-;
<br /> ' � • S. Ocrupnncy� Preservation, Maintenance and Protection of ihe Property: Borrowev's I.o�n Applkation; . �
<br /> � , � I.easehoWs, Borrower shall accupy.eswblish.and u.e thc Property a.ti Borrower� pnncipal re.ridence within aaxty days f , . � �: ` '
<br /> � afcer the executian af this Security lnstnrment and shall cantinue to occupy,the Pro�x:rty as Harr��wer:principai re�idence f
<br /> ' � for at least one year after the date af accupancy.untess the Secretary detemsmes thir requaement wiU cau�e undue hardship �`• '
<br /> • � for 8oaower, or untess extcnuating circurristanccy exi�t which are beyond Borrawer� cnnuol. Borruwer shaU natify i .. � . � .
<br /> ' ' Lendets of ttny extenuatfng clrcumstances. ���rrnwer shall aai rommit wa�te or destra�:.damage or substantially change ! , :
<br /> � . the Property or allow the Roperty tn deteriaratc.rea.�anable wcar and tear rrrrpted. l,ce��:r may�n�pcct thc Property if thc � .�:;
<br /> ' •. Praperry is vacant or abandoned or the laan is in drfs�u(t. L.rncicr may takc rcas�nab7e a::tion to pratect and prc�crvc such f ��
<br /> � vacant ar abandoned Ptoperty. Horrowcr sh�1t also 1�e in default if 8artower,during thc taan applic�tion pracess,g�ve .
<br /> � -- . -. : " ' materlally fatse or inaccvrate information � �tatements «i t,end��r (c�r failed to pravidc l.ender a•itfi any m�terial �`
<br /> � informatwn)In connection witb the loan evidenced by�he Ni�tc, including,hat not IimitcJ ta.reprctctltations canceming �
<br /> � ' Bocrowcr's occupancy of the Ar�cty u�s+pfIRCIp3)(CyttINRCC. If this Srrurity In�trucm��e�iti an a Icu.�ehdid.8orrowe�thull � • ,
<br /> ; . � corr�iy with the provisions of ahe tea`e. If Hvnowcr ucquirez tee tittc tn thr Yroperty.thc Ica�chald and frc titte shait nnt (• • •
<br /> � • be�retged unless L.endcr agrees ta the mergcr'in writing. E � . ,
<br /> � 6. C�rges to Barrawer anA Protection of l.endee'w Ki�;hts in the Ysoperly. Barrawcr�h�ll pay all gavrmmemal �
<br /> • � . '. or municipal chargew,flne�s�nd impasiti�n!�Itt::t ar�nnt inciuded in F*,�ragraph 2. fMrrowcr�hail pay thc5e c+bligatinnv nn [
<br /> . ' , time ditectly tn ftrte en�ity which i�nwed the payment. li fullurc tn pay u•ould advcrscly�ffcct l.ender's• intrrest in the �
<br /> � �1ro�erty.upan Lender�rryue�t Borrower sh�ill prumptly furni�h ta L.cndrr rcceipts evidencing Ihew payments. ;
<br /> i/8onnwer f�ils tn make thesr paymcnt��r the p:�Z�mentti �ryuirrd by Paragraph 2,ur f:�il�to per�arm:my athrr ; ,
<br /> covenants and ggreements contained in this 5rrurlty In�trumcnl.ar thcrc is a icgal pr�ceding ihat may signific7ntty:�ftect ;
<br /> Lender's rlgftts�in Ihe PropeAy Isuch av a pr�xreding in bunkiuptcy.fi�r cnndemnation nr to cnYe�rcc taax nr rcgulationti). � - --
<br /> , - -- --'" --'-"- then l.ender may do tu►d p�ay whatevcr is neccssury t�,prutcct thc vaW�ui�he R�perty;N�1 l.ender�rigius in the Pra�rty, i '
<br /> : - - - inctudin$paymcnt ot hoxe.r.tt:+�urd inrua�m:c i►�ut i�lhct item!+mentinned in Parag�aph 2. - . . .
<br /> . My sunaunts disbursecl by Ixndcr undrr this i",�ra�r.rph shall(xc��mc su�additianat dcbt o1'Honowcr and bc�rcurcd
<br /> • by this Securlty Instrument. Thcsc sm�nunty�hall bear uucrc��fr��m the da�e ai'di�bursement,at thc N��te ratc.:uid at thr •
<br /> , • ' _ uplton aF Lender,sh�ll6e immediatcly ciue nnd payabtr. ' ; .
<br /> ,. . 7. CuedemnaHan. 'fhe pmreeds of uny award ur cl:dm fur d:unaFcs,direct or r�+mcquenti�.in a+nncction with any ; ' .
<br /> , � condemnatlon or olher taking of any part of the i�raperty.or far romey;mcc in place ui cun�te�imativn.ar.�hereby�s�i+n�y!
<br /> . � ami sha116e paiJ tn Lender to the extcm of the full;unount��f thr indebtedneyv that rcmain�uttp�id uudrr thc Nutr:ui�thi.r
<br /> ' _ ��Xtnstniment�Le;tder.sh:illapply such ptoceeds tathe reduetion uf thc indebtcdne�undet ihe 1Vute:ind this Securiey ' �
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<br /> . - Insf�tmcnt.fitsf to:u�y delinqucnf :�muunfs applied in tfic urder pr�tividcJ inYaragruph �, and ihcn-ti��+ieQ-aymrni �if' � '--�----� - --�
<br /> principal. Any applicuttem of the pracce�tw tu the principuf shall not cxtend ut pustpnnr thr dur d:itr�f ihr mnnthlp :�
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