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<br /> � ). b �t�ei�ei�iillereit a�i Lstt t-'Irria Has�a'f,�PY wbeu due the piincip�l o��d ia�estaa. - . .
<br /> �, d�e debt `J�� 6y►tbe Na1e'�ad We clNr�e.+dae uoder the Nata = � ,
<br /> . � Z �,�,�i�s,t�wc„a a■i olier�Boi�owa sh�u;ncmiae m ach mon�hIr:P�Y� '�` .
<br /> � do�edia�vit6 the princip�l a�'sdatest us set,forth ia the IVo�e any la�te chuges.aa insnllment of any(a)wus aed
<br /> spenal assessme�s kvkda w fic levied igainst tbc Qtope�ty.(blleassEoid pa3'meats ar 8iaund�ts an the Ptopeity.and -
<br /> ' (c)p�aaioms for inwr�oce.�qoiced 6y Par�B*+Ph'� -
<br /> ia
<br /> Facb nwathig imtalMent f�rtems(a).(b)aed(c)�IWl:equ�1 ane-cwelftb of dic anaual an►anNs.as[e�on�biY
<br /> , a�im�ted by Irnder;plus�n unouat suf��cieat to maint�in an�ddidoaal baia��ce of not naic tl�ane-siMh �tbe
<br /> . . �ieQ amountg:.1be faU�omul�mant for eslcb item sball be aaumulated bS►l.ender wi�hin a periad endin8 0�
<br /> � < . QibnHt Uetare an item wouid became delniqueat- Lender sAxR ho/d the�caIIecoed ia ttust m pay dtems(s),@}and __—---
<br /> � (c)lxfarc t6eY 6ecoa�d�lia�: together with the fut�ue monthly
<br /> . if�t any time the tdat of the pa�m�S held by I.ender for i�ms(a),tb)aoa(c). _
<br /> �. psyma�ts fa such items Qayable to p�icx to the due dates af such items,excads by more tAan ane-sixth ihe —
<br /> esumtled amault of P�Yments tequinod topay suc6 ttems�vlten due.aad iY pi.E ;oo tbe Note ate cus�en�d�m I�ender ---
<br /> �b�II dther iefin�the euoess�over a�ae-sixth of the estirtwtai paYmknts a [he excess aver aoe-siaB►of tbe�ima�` _-
<br /> , to suba�u�t P�7'�►�s blt&x�ower•at th optia►of Boaowa. If tbe total of tfie pAyments mide by Boaawa
<br /> _ -- '��(�tbj;astr?is msoffics�fiopay tl�e itatt whendue.tlymB�serat���Letder ao�arnamt_naxssa�y to= - _ — _
<br /> � � Qisice up tlledeficieacY anor 6efiae t6e due the iteia 6xomes due. ' _ -
<br /> = As used in tlus SecuritSr lnmamenc."Sa�enry".means the Suneta7 af Hausing�nd Urban Developaieat ar his ar her -
<br /> - desi�ee. In any yar i�winch the I+eader must psy a mortgage ia�urana p�eruium to the Saraa�Y.each monthlY P�Y��- . =
<br /> � at�il also include either: (i)�an instaUmeat of the annu�l nwrtga8e iaswance pnemium to be paid by Lendec to tbe ---_
<br /> '�..- Sec�enry,a fn7 a ma►dily cTiarge insuad of a�age ins�uanx Premiam if this Seeuriry Insupmeat is hetd by the . � -
<br /> Each monthly instalLaeat of the mortgage insurrnca pnminm sbaU be in aa antount sufficient to accwmulate tLe . � �._
<br /> ,-_ • , �ual matg,age tasurrnce Penuum with l.snder.oae montl�pna to tls�date the fnU amival moctSagz iasuraoce , - �°:=�'::__
<br /> pnmium is due to the Seaeta:Y:oc if this Security Instrumeat is hetd b�tLe 5a�tacY.eaeh manthly�t�r8�st�all be in arr ,
<br /> a�eoueK oqwl w oae-twelflh of one-balf pe�ent of the outst9nding princiPal�f�t�ce due oa t�e Note. . . �v' �«--
<br /> - If Baruwet tenders to l.ender the full paymeat of all sums socurcd by this�ry�+Harrower's accoa�rt �.j,�'Y'�=__
<br /> " shall be cndited with tt�e balance ntinaini�ig for aU instalMrnu for ilems fa�.(b)aud(cl�►d anY�8e In.s�u�nce ;:__c.:.��—
<br /> -��._
<br />::r� � �mjll111 ulC��tllffi LCIt(JC�Q8S tlOt�1CCOfilb ObG$3tCd t0 p'dy f0 tIIE SCCIEtd�l.BIIA L.CIIAel Sh3tj p[U��Y nftlTl�8AY ...;"�,-�r,_-
<br /> excess fwsds w wer. immediately prior"to a forectosa�e sak of the Ptopercy or iis aeguisidoa by t.ertder,Bamnwer's %, . �.��_: ..
<br /> �::'' acco�mt shaU be crcditod with any balance remaining for all instaltments fos iums(a);(b)and(o). � °''' �_`-:. =
<br /> . � 3. A�pUestioat of i'a�meab. A!1 pay�snts under P�r+grapt�s 1 and 2 shall b�applic�iry Le�der as follows: -- - -
<br /> t"� �T,ro the mortgage insnrance premium to 6e paid by Lender to the Secretary or to t6e inonthly char8e by the • _ -
<br /> ,:.� , ; �
<br /> Socntary instead of the monthly mortgage u�surance preriuwn: :
<br /> � �p,w any taxes,spccial assessments,teasehotd payments a groand ients,and frzr.�l�od�id otber hazard _ .., '��
<br /> en .���
<br /> r_�
<br /> pnsucacice pmniums,as required: - . �
<br /> " = � �Q,to�nterest due under the Note: '�•` :°'.
<br /> �: ' . ��
<br /> :'�.: �],�,w amortization of the princtpa1 of ti�e Note: `'�?a.,"4�' .
<br /> • ;�;�-: �,to late charges due underthe Note. �;��„.,,
<br /> :�:- q, Fire,Flood aod OtUer Haiard Insurstoca Borrower sha11 insure all iraprovemeatsa:��he Property,whether aow �
<br /> �^� in eaistence ar subsequently erected.�inst anY ha7ards.casuatties,and contingencies.in.�iu�acsg fire,for which l.ender : r,,.
<br /> ' `�`�,.'�>��i �uues insurance. Tb�s insurance shall be maintai�d in the amounts and for the periods that ixnder�equit+es. Bortowu. "�=��'�'�'
<br /> °� u= •- ahai!aiso iasere all im rovemt,mis oa the Propert�,�hexher now in cxistence or subsequently erected.ag�inst toss iry floods = ��' :
<br /> . :" �`��"�,�; . ' to the extent nquired y the 5ecrerars'. Ail insarance shali be�s:ried with r.�nnp-an��SVP��bY Lendec_Ttse msurance '''L`_s,._;-:.. -:
<br /> ' �� r�� ; policias and any renewals shali he held by l.ender and sha1E include lasa payabts clauses m favor af, and in a form , . •:'';�tF�
<br /> acceptable to.l.ender. '' .`'''`'��
<br /> �:i •;s�_;:�• In the event of loss.Botroa�er shall give l.ender immed'eate notice by mai). l.ender may make proof af toss if not � , . -;�:,,.--
<br /> ' made ptomptly by Boasower. Bach insurance company consemed is hereby authori�d and directed to make payment for : � .c '
<br /> _� ��=--
<br /> " such loss directly ro Lerukt,instead of to Borrower and to l.ender jointly. All o:any paR of the insurance proceeds may be ,:-. .; ?,:_.--
<br /> ,,�-q. app Ued by l.ender,at its option.eicS�cer(a)to t he r e ductian o f t he in d e b t e c t n e s s u n d e r t h e N o t e a n d t h i s S e c u ri t y lnswmc,m� 4:•��°��. ' :•.;=':s;
<br /> fust to any delinquent amounts ;��gd in the otder in Paragraph 3,and ihen to prepayment of principal.or(b)to the .. ': _•� �•�'—
<br /> .�_�;&:��c.c-
<br /> �' nstoratEeei or repair af the damaged praperty. Any applicatian of the proceeds ta tho pnncs�s.hall not eatend or postpone , .,,;,.:� ._��
<br /> �•.. .
<br /> -'_�,t;�� . ., the dae date of the monthly paymer.0 which are refersed to in Paragraph 2.or change the:sr�flc:ss of such paymenu. Any '�,�, �,;;,�.�:
<br /> � r excess insurance proceeds over an amaunt required ta pay all outstanding indebtedncss unde�the Note and this Security �.: .-,,�:;r
<br /> ' ���� `' �� Instr�;ment shaU 6e paid to thc entity legally ennQed thereto. "' '-� a3L_,'�:.'-
<br /> � �'i"� '� !�1 the event of farecTosurc of thls Security instrument or other ttansfer of title ta the R'operty th�t exUnguishes the
<br /> �.,....�
<br /> � ���' w r in and ta ic�..rnance licies in force shatb Fass to the Qurchaser. , ,.; :-
<br /> .., title and interest of Horro e P� �� . ,. , -
<br /> ••;_ indet�ness.ali nghl. ��t
<br /> � �OccuPancs4 1'reserva�o�,:NAintenAnce and Protection of the Property; Bosrower's l.o�n Applicatios; ;.. ... ��.,:,:;�;,:1'�
<br /> ].welloids. Boaower shall occepy establish.and use the RapeRy av Borrowerw principaf re.gidence within sixty da.��s � •�;:;,�•�:�.__�_
<br /> ' � �� after the eaecution o9 thls Seeurity lnstrument and shall continue to cxcupy the Praperty as 8ar`rower's•principal resulence j.: ,. �. �'�
<br /> �:�`r�``-- ' � for ut Ieast one year after the date oP occupancy.untess the Secretary determmes thlti reqwrement will cuuse undue hardship ��.. ��� -
<br /> ��`.:Yf�:� , for Hntsuwer. or uNess extenuatia�clrcurristance9 exist which are beyond Bartawer's rantrol. 9orrower shall notify i � .
<br /> .' ' �`'=y��=� Lender�of any extenuadng circ�utt.stancea. Horrower shall not commit wa�te ar�ytruy.damage ar subs�antially change i . _
<br /> �;--g-:: .,; �, , ,:.'�.�..
<br /> . a"�-: .�• 4� tho Praperty or allow tha Property to deteriorate.re�sonablc wear and tear exccpted. �endcr may mspect the Property if the ,
<br /> , ; -' Propesty is vacant or abandoned or thc lopn is in dePault. Lxnder may takc rcasvnable action t�protect and preserve such �,,. . �
<br /> w s ha 1 1 a l u r b:i a d e F a u k i f B u n o w e r,d u r i n g�h e l aan s�p plication process.gave �
<br /> -=---� - - - v a c an t o r a b a n d o n e d P r o p e rt y. B o r r o e r � .
<br /> " � "i materlally false ar inaaurate informatian ar statcmcnts to l.ender(ar failcd u• pravi de l.en der wi t h any m a t e r i a l � • ,
<br /> �„�_�'�'.� ,� information)in connectian with the to:ut cvidenced try the Note.ineluding,hut not limitcd to,tcpresemasions conceming i ' . . . •
<br /> � . . Boaower's accupancy o tt he Roperty:is a prinripai residencc. IP this Secunty tn�trumcne is on a leasehoid,Borcawer shaU : ,
<br /> --- :. comply wlth the prowslons of the lease. lf Bamiwer�cquires fce title to the I'roperty.the teaseAold and fee title shnll nat i .
<br /> ' . be merged untess Lender�grecc to the merger in writing. :
<br /> ' ` � � 6. Charges to Borrower and PrWeclinn of l.ende�'s Itiphts ln thr Property 8unauer�hall pay adl govemmentai
<br /> ' �� or munlcipal charges,finrs and impositians that�ue nat included in Par�+�raph 2. gortoa�r shall pay�he�e abligati�ns an �
<br /> •u
<br /> - ' tima dlrecUy tn the enti�y whlch is owcd thc�+ayment. If failure to pay a•auld adversciy Affect Lxndcr's intcrest in the i
<br /> • ifioperty.upon Lcnder�reyucsl Batrower�hal}prUmptly fumish to Lcnder receiptv evidcncin�Ihe�e paymentw. (
<br /> � ' � if Bonower fails to make thcse payments or the Qaymentti rcyuired by Naragtaph 2.or faits to perform uny other �
<br /> _ _ • ,�;.. ,:_, covenants and agreements contained in this 5ecurity In�trumen�.or there iv a fegal pr��recdiag that mry signifirantly affcct
<br /> - '- --- . � Lenderb righ�s in the Property (such a�u prucecding in h�ssksuptoy.for condemtratiun or to enfi.rce laws or mgulatton!►1. ; _
<br /> . • �. . then Lender may do su'�d p�y whatever i�necC�.�suy tv protrci thc vatut�•f the Vroprhy nnd Lender's righls in tht Fr��peAy. �
<br /> � • ' including p�aymeni ni ta�ces.harard insur,utce:u�d�+thcr uems mcndancd in{�.ua�ra�ph 2. . . . •
<br /> - ° -� My amounts disburscd by Ixnder under tbi�Para�ph slrafl txti�urne an udditional debl af W�auwer.u�d he secured �. . _
<br /> ; , . by this Security Instrument. These amounts shal)i+ear mten�t frnm the datc c+f clirbuncmcnt.at�he Nutr rute.:utd at the �
<br /> _ . • optlon of Lc�tet,shatl bc immcdiatc:ly duc and p�yahA:. _ ` .
<br /> • . 7. (,'oeden�tlon, The prcx;eeds of any vw;ud�ir claim for damagms.dimct ar consequenti�l.in cnnnertion with any
<br /> ' condemrwlion�r ather taking vf nny part af the i'r�perty.ur far cunve}•ancr in place uf condemnatic�n,are hereby:�.si��ned : �
<br /> ; , � and shall be paid to Lender to the erteat of the fuli:unount af thc indcbtedac�s that remmiins unraid under the tiote atid thit . ,
<br /> • 5ecuriry Inswmcnt. Lender sh�ll vppty surh pnxecds ta the rcducti��n�►f the irtdebtcdncss under thc N�tc and thiv 5ccurity .
<br /> _-_,=-- . • •i�st:u�scae.�rs!ur�ay.deliaqueat�nnunt� �ppHeA in the arder prov ide�! in P�.�raph 3. .m�i lhcn ta prepapmrne uf . _:__.�_:._
<br /> --- - neat _. _
<br />' � princiq�l. Any applic�tion uf the praeedti to the pnnc�pal �hall not extcnd ar�pu.tQone the duc date uf the inei�thij�
<br /> ,. - - .
<br /> • _ 'i. . � �IHtR�2 nj 4 p4Ne.� . � 1
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