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<br /> . �. Tjqrst K Tri�irl.T�Mi+eat a�i�ate Cir� Boaower s6�lf pa�i wrien�prmcip�l of.ind ide�est oe. , .
<br /> .d�e d"ebt�dmoed 6y tbe Na�e ad tre sh�et due imder tAe Na1e. '
<br /> � _ �!Ml!���►I�a�ct�ni Otier� Bormwer shall inctade in eacl►�pry�.
<br /> . io,edfer�vitb t6e pt�nc�p�arKt&Nercst as ut fath!a die Na�e any I���e chartea,.�n iaualtment of iny ts t�a aed , .
<br /> , �dcial aae�s levied a°W be t�►ied a�u the Prope�ty.(b)k�ehold p�yments or ground rcnts an the Ptopetty.a�d :�
<br /> (a)P�iw�fa uuWaaaix c�equired by P�ag�aph 4. `
<br /> E�cL�no�Mhly iawlhnait for i�ns ta).(b)�W(c)elull equal ono-iwelElh oi the annw�l amountn,as es�aubty -
<br /> • �ed by L,ender.p�an �tnount sufficient to m�itet�in a�!�ddition�l'bW�na of not awoe tlun ane-si�cth d the .
<br /> �lad�.�'i�e fnit annuai s�nwant for e�ch ioe�slntE 6F_ac�mutated by I.eader withiQ a period aod�aae
<br /> � monlb 6efa�e an ioem waild becaae detinqueot. Lender s1uU hoW t6e anaoimts wlkctod in tr�st ta pay items{s).(b)+rd •
<br /> �c)befae tl�y bxome delinQuau. ` , �
<br /> tf at my time.tbc taW of d�pt�ymeots 6eld Dy Lenda for items(a).Cb)�(�).togW�r with d�e f�tee tnonthly
<br /> p�ymen�fa such ite�pryabie w Lmder prior to the due dates of sucb items.exceeds 6y monc than oae-sesth the
<br /> es�nia6od amaunc of paymmts requued copry such,ne�as when duc.aod if pa, a on thc Nae�re cuamt,tha�Itinder ,
<br /> - aha�l either tefwid the exass over one�au�ch of the esumated p�Ymeats a�excGSS over oae-si�th of the adnatod
<br /> payme�tls��4�PsY�bY�wer.at tlr�aption of Bamwer. If the taat of the payments made by Bamwer
<br /> �or i�aa(a),lb),or(c)is usufficient w pty t[x item wba�due,thm Bormwer sdall pay to Let�der�ny anwwt neass�y w
<br /> - m�e up d�e de6cietx.y an a befae the date the item baor�xs due.
<br />=- As asod in this Sx�iry Ia�men�"Sa7etu9"m�s the Secnetary of Housing and Urban Develapment or his or l�er
<br />-_ des�gace. In any yar in which t6e I.ender mnst pay a mortgage insurarice p�eminm to the SocretarY.�h��Y P�Y+►�
<br />-'-- � si�ll atso incltde aithes: (i3 an installment of the anrtuai moitgage insurai�ce prcmi�un w be paid by I.ender to the •
<br />=`T Sec�etary,or(d)a moathly chvge instead of a mossgage iasurance pc�miura if this Socuiity IdsuunxM is held by tlie
<br />`i-�; Senetuy. Each nnanthlY installmenc af the m�tgsge insuraace premium shaU be in azi amowu suffrient to acxumWate the —
<br />- full sinwl matgage ms�sn�e poemium with Larder a�e moath pria to tbe daoe die fiill a�uat mortga8e tTMSnr+nce -- -
<br />_ : . ' � pn�iam is doe to tlie Sec�esatY:or if th�s Seciuity Insuument is held 6y tde SaK+etary.esch�ly charge sl�all be ia an - ____--
<br />_=:� � ; �noanteqa�l to ane-tweIflh of oae-l�lf pereeat of the outstandinS Principal6alance due on Wa Note. __
<br /> :�: �€Horrovrer tenders to I.en�ai t6e fuU payrtkat of al!sams se�by this Secwity G�saument,Bormwar�acca�s�t . __
<br />:�;, shalt3�c cadiced with tl�e batan�t"�an�inin8 for aU mstallmeints'for items(a),(b)and(c}�nnd any matgage insm�e _
<br /> � . p�installroent ttu�t Lenda,fl��ot become oblig�ted to pay w tde Secc+etary.and liader shall ptnmP�Y rt��Y �__-��
<br /> exsess funds to Borrower. ImmcdiaieYy prior to a foreclosu�+e sate of the PtopertY or its aoquisit;on by l.ender.Homuwet's +•r�,:��s,,
<br /> .,_ ` �' . -- .;:.�si�all ba credited with aay balance retnaining for a1l In.staltmenu for iteqis(a).(b)and(c). �';,�;:�:�3r.-�,:'.
<br /> ` , ,.�: . • ts w�derParagcapi�s i and2slsatt6e applied b9 Lenderas foilovr.s: _
<br /> 3.Applicatba ot Pr�.Atl paytnen =�
<br /> F , �$�ta the mortgage u�e premium to be paid by Lendes to t6e Secretary or w the monthly charge by the � f •
<br /> R'a; �tary inscead af the n�biat�ly mottgage insurance p�mj.�;_ � .� . �',:��'9� �,;
<br /> af :tt��+ _:�.
<br /> �.- SE�OND,to aa�taxes.special assessments,teasehvtd paynteats or graund rentc**mid fue,tlood and other haza�l
<br /> L ��"r=K� '�::
<br /> �• TDSAtd11C4S�S�S=II+`t15�'dST�IISI��i , . "."`r:5�{
<br /> ' ,' �,t0 IIIISYtSL dUC IsfldeT t11C NOt6: ' , ., _ *`'�(��
<br /> ' '� ��,ta aaiorwatian of the principal af the Note: : . ; .
<br /> �,to 2ate chatges due under the Note.
<br /> A� FirG I�7ood�nd Otl�er Haza�d Insaranca Bomower shatl insure all improvements on the Property,wtKther now R±'�
<br /> --- in oxistence or snbseque�itly erected.against any hazards.casusitles.and contingenc�es,inctuding fue.for which I.eader
<br /> , s for the "ods that I.ender uires. Botrower �;°�Y,.r
<br /> �qwns iasurance. 'I'h'�s insurau�ce shall be maintamed in the amount and pen r'�1 ,%:.:�z ,.
<br /> ��`� shall also insute all imprvvements on the Property.whether now in e�cistence ar subsequently enected.aga�nst lass by floods _ <_-_<.�_,tv._._
<br /> � - ta tT�e eatent nquir�ed dy the Secretary. All insarance shall be carried witb wmpanies approved by Lccnicr. 'ii�ur,urancc -,_�-�.
<br /> � pol�cies and any renewals shaU be held by Lender and shall include toss payable rtauses in favor of.and in a form � :v.�
<br /> . ' accepta6te to.Lender. ;
<br /> ' . �' `s� In the event of 1oss,�arrower shall give l.ender immediate notice by mail. Lender may make proof of loss if not . : '�`'
<br /> � _ made promptly by Bomower. F.ach insurance wmpany concemed is heteby authorized and directed to make payment for , •":'
<br /> • such loss directly to Lender.instcad of to Borrawer and w Lender jaintly. Atl or any part of the insurance proceeds may 6e , . •
<br /> � ��' applied by Lender.at its option.either(a)to the reduction of the indebtedness under the Note and this Security Insm�ment, , _
<br /> � '- titst to any dellnquent amounu applied in the order in Paragraph 3.anA thon to prepayment af principal.or lb)to the _ _ _ -=
<br /> `°�.� restoration ar repa�r of the damaged property. Any application of the proceeds to the princ�pal shall not eatend or postpane • , ':j r�
<br /> ; - the due date of the monthly payments which arc rcferred to in Pam�ph 2.or rhange the amount of such payments. Any •;,;'::, n;;�a,
<br /> � ` r. excess u�surance proceeds over an amount required to pay ull outstand�ng�ndebtedness under the Nota and this Security . ��;:'. _��
<br /> •" Inswment shall be paid to the emity legally emuted thereto. � . . --
<br /> It�the event of foteclosure of thiw Security Instrument or ather transfer of title to the Prapeny that exNnsuishes the • '.'?ii : =
<br /> � indebtadness.all rigl►�tide and interest of Borrower in and to insurance po�i�^s�s in force shall pass to the purchaser. ��;,;:���.?;,�t:r�_._ — -
<br /> . . S. OccuFanc!', Preservation, Maintenance and P�otc�Niaa at ti� Piraperty: Baerower's l.o an Ap p l i p N o n, � ..,:, :%:.,;F:,_._--
<br /> . �,; � ;�;, . .�.
<br /> � I.ta�rrWs. Borrower shall oocupy.establish.and usc the Pr�per[y as Barrower's pran�7a1 nwidence within sixty days � `%,:;:',�;�
<br />. � after t�,e�xecutian of this Seeurity lnstrument and shall canunu�so occn�:s?�e Propert;.j a�9onower's principal res�dence ;.: �.,I�..%�'.,��`•",,,��-
<br /> for at teast one yeas after the datc of accupancy.unlecs the Secretary detert�.:�^:s this reWurrement will cause undue hatdship , • � � '��;`� ;: ;�•:
<br /> � far Horrower,ar aa�le�s extenuating circurtistances caist which are beyancl�Aanawer's rontrol. Borrawer shall notiiy � � �.��z � '
<br /> �.,•,�,r"; = 't���' :' Lendera of any extenuating circumxtances. �orrower�ha11 nat cammit waste or destroy.damage as substantially change � -
<br /> "' ' �-��'�<'�` t� the C+toperty or eltow the Property to deteriarate.reaconable wear and tear excepted. I.erQ�c may mspect the Property if ihe ,
<br /> ,;,�,,:�,;, .. �
<br /> ••���",,_ Ph�[y�s vacant or abandane�ar thc loan is in dcfault. !.e°::er may take reu�onabtz a�inn to prntect and preserve cuch �. ' .
<br /> - -,'" ' .',7•' , v8r+�,t et abandoned Ptopetty. Bcttrower�hall�Iso Ue in��:aa11 if gonower.during th:taan applicatton process.gave � _z `._ --- --
<br />... � `�'*'`-=�,.,;, � materiall�r i'alse as inaccurate mformation ar statements to Lcnder (ar '.'ailed to provide Lender with Any matenal �
<br /> .'�,,�,:;��.:�,�. informat�on)in coanection wlth the taan evidcnced by the Note.includ:�;z.b:tt nol limited to,reprcsentations wnceming . ,.
<br /> Borrawer�accupancy ottho Property as a principal rcxi�tencc. li'this 5ccueity lnstrume�l is nn�Icaschntd.BOftOWCT 5Ft�I �
<br /> �'-'�'�.-�=: � .' .� . camgly with the provisians of the Iease. lf 8orrawcr ucyuireti feo titte tn the Prnperty.thc feasehold and fee�itle sh�ll nnt �_ -� ;;.:
<br /> �•=� ' bcaxrged unlesv Lenderagrees ro thc mergcr in writing. ` .
<br /> . 'F:_ `''�'_•�" ' .
<br /> �:a;�;�?�,::`�� �° 6. Char�ts to Borrower and Protection uf Leader's Itights in the P�operty. gonowcr vhall pay all govemmcntal ,
<br /> .�:....�.. .•� . • .
<br /> • ,��..--f,; 1_ _, or municipal chargew.�ine4 and impositions that:ue not includeei in P,uagraph 2. Nortower sh�ll pay the.K obligationv nn t _
<br /> . - • � tlme dlrectly to the entity which is Uwed the payment. lf f:�ilure ta pay w,�utd adverscty affect Lcndcrc intcrest in thc ;
<br /> _ �_ ' Property.upan A,eader�request Horrawcr shall pramptly fumi4b t��l.ender retieipts cvidcncing thcsc paymrnfv, 1 '
<br /> • .. � . If Borrower falls to m:ilcr�hecc paymcnts nr thc paymentv rcyuircd by N�ragraph 2.or fails to perform uny othcr ; ; •
<br /> ="`•� '-_� •• covenants and a�reemems contained in thi�5rcuriry lnstrumcnt.�+r there iw t�tegul pracceding that may s�gniflc:u�tly affect E , :
<br /> _ .. __ L'.��'�_. ._:_: --- Lenekr»rights u�the�t�Ry(such us a psace�..�ing ia h:�kru�ste3.ti:t rvr.;lcmnation ar tn c�Ec►sre O�aws ar ragulavons). . • .
<br /> ' - �''"`°' then l.ender ma�y do and pay whatever is necessary td prvtec��he vulue af the Property and Lendrr�rights in�he('roperty. •
<br /> � . ' . .=. . -- - • includiag payment of taxes.hazard ia�ur•u�rc and nther items mcnliancd in Purs�grap h 2. ' : . _ _ : ._ .
<br /> • Any annaunts disburscd by Lcndcr undcr this('ura�r�ph�t�all becomc an addutnnal debt uf 6orrower an�i he serured
<br /> � . by thls 5ecurlty Inswment. 'fhe�umuumx shall bcar mtcrest frorn the d�atc�i disbursement,at the N��te rute,and at thc , .
<br /> • � option af Ixnder:sh�ll bc irnmediately dur s+nd payabtc. •
<br /> • . 7. Caedem�eatioe.'i'he pnxeeds of any aw:vd ur claim ior d:unages,dirc�h or rc►nsryuential.in cannection with:sny
<br /> � , '� � ' evndemnadcm ur tither taking af arry pa�of the Rnperty.ur f��f canveyan��e in pface of candemnatinn..ur hereby�tis��ned ,
<br /> . � • ' and sha11 be p�Id tn Lender to the extent of thc full�maunt af the inetebtedne�s that tem:rins unpaid undet the Nntc s►nd this '
<br /> ____ __ _ "_.. . .�_,_ . 5ecurity lnsuua�snL LetKier shal) ly such rocecd�ta thc reduciinn uf thr indebtedness undcr thr NotC�nd this Serurity ;
<br /> c AVV P
<br /> •, .�T - ?nshiimen� fir�t to�tfy�tttinqQem amotmts upptic�in the mder prrn*idnf irr i�.�r�grrspi� 3. :nEd tEt� t�pre apmc�s o€ . . �. .�—.�.'_.-----_-..=.__
<br /> hi m .
<br /> , � , , prinrlpai. Any appliraUon oi the praceeds to the principa) �hall nnt extend ar�tpnne the due datr of t c monthly ,
<br /> , . x�•. _ ._ _ . _ . . . . .. . . . " _ Q1UCP.�fd�1d�'Ptl _ . _ _ . , . . . . ._ . _ � � . ._
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