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<br /> -`- � ` ,L `�r.wR.thYei�Y,�.�ere.e a.�t�i.a�e c�.sarowa s�wt piy w�en doe t�e t�cip�t of.�a uMerc�t be. .
<br /> tAe debt eridenced 1►�thc No�e.aud Wccly[ges duZ�der the No�t. � :
<br /> • 2 111!�M�M7���►���OIMer Clw�e� Banowek s1�t11 inciude in ach ma�thiy p�yn�at. .
<br /> � to�er Mn�h dw priocipd aod interest is set fatb in tbe Note and any Iaoe charges.an inspiWna�t of aay(a)taaes and .
<br /> apeciai�kvicd or w be l�vied�tA�pt�ercy.(b}ka�hoW Pa�or g�uuad�:ents on tbe Ptqpaty.and .
<br /> (c)P�emwms tor inwr�e Eoq�ned Dy P�B�aph q. � - ' -
<br /> g.acp moothbr il�tal�eot far'ircms(a),(bf aod(c)shaU tqqs�i oae-twelRh of the anauai�nounts.as teasoc�bIy
<br /> � estimtied by l,eader.Wus an amo�uit sufFicimi w.maintain aa sddiaonai batancn of na mae.tl�n oae-sixth of sl�
<br /> e�naled,amounts. Tde fuik,��al auiau�t fa each item s4all bc�accumnlatod by Leader withi4 a period end�g one °-�
<br /> �oaath befoae�n itan wautd became deWque�u. l.ender si�ll taW tbe amounts cdtectod ir�uust tu p�y items(a).{b)and . _ _ .�--
<br /> � (c)befae tbeY b�o�r delioguent. witIt the futEU�e naonthty � �==—�---
<br /> if aE any�rne tbe Lota!af thc psymeats 6eld Hy€.cnder.for ikms ts��lb)nnd(c).wgaher =- -.,�.—
<br />- WY��fa such items pay�bk to l.ender prior to the doe datss of such items.exceeds by moce than a�o-sixth tha , �:,'���-_-
<br /> esWnated amamt af payments mpico�to psy such items wben dtre,md if payments ort tbe Nate are cu�rnt,then Lender ��_-- -
<br /> sbtit eillxr eCtuod d�excess over om-siath of the e�isnate8 paYments or cYOd�t the txass over oae�sixth ot tbe estimat«1 - �.�-v=-�-_—_-
<br /> payme�s.m�P,sY���Y�Bt�nower:at H�e optiat oF Bcxmwer. tf tbe tatal of dse p�J►ln�n�s made bS'Basawer ��-,�__�—
<br /> � for ioart(a),@).or(c)is u�wfficient to paythe itqn wfiat dce,thea Bortower shall pay to I.entkr any�mamtt neassaty W� . -��_-
<br />- m�t�up tde deficiency oa ar befae the d�te the item 6ecanes due. of Ha�sing ard Urbaa Devclapment or his oc hct =-��
<br />= As osed'm tbis Satiaity tastnra�a�t,"S�tarY"rneans the SecreuuY ��_-„i-----
<br />°= desip�ee. In�ty year�a which the Lendermust pay amat8a8 � _'�'�` �
<br /> e iasuQanc4 y�nemium w the S�ry•eac6 manthtY P�Y�� �-w=_ =
<br /> s6all also include eitl�er: (i)an instaUment of tbe annual mortgage iqst�rence premium to be paid by Lender to tl�a ;Y:*=.;s�,� -�-_
<br /> pr m
<br /> Soce�etuy,or(u7 a manB�tY charge insuad of a mor[gage insnnuxx p�emwm if this 5ecuriry I�stnunent is hetd hy tha �`:,�f���` —
<br /> ns
<br /> - Seccet�ry. Fach moasbly iUStallment of dx moetgage insarance premiam shall be in ar�amount sufficirnt w xcumWaie the ;�.,�
<br /> ful!am��ai mort with Lendec oae mmdt ptior to the date the fuH annual maigage insutance �' � .•.;�.•.L„°
<br /> �.�P�� -'�.���-:'-
<br />- • ..;premium is due ou thc�c�ty:or if this SataicY Tn�a�mt is held by the Secietary,exb monthty c(�rgc s1ud1 he in an . r�.;�=,;,,
<br />_ . . ;: a�ou�eqwl tu ane-�el�r#tof a�-half pecrent of the uutstandinS P��P��due on thc Note. ::.:� .,,-4_•=y,
<br /> � I�Boaawer t�dets ai Le�dq�the fuU payment of all sums secured by this Securiry insunmen�Boctowecs accaant :r:_,
<br />� . sh�ll 6c:a�i'itod wich:d�.�ri�c�iaf'sairung for all instaUrneats for items(a).(b)and(c)apd aay mortgage insurwl�e '--;, ' �:
<br /> � � p�nem;uin ieutsarmenc st�i:en&r rrss nuc become obligacQa w p�ty°oo the sa�etar�r,�nd 1�en�d� P�P�' �F . '"��-_—
<br /> ar� shall nfwid .�..�`,..-.,•-
<br /> � excxss funds to Boa�ee:•�Immediauiy prior to a foneelosote�a[r.czf the Property or its acc{u�ition by Lender,Bortower's '•,=�,:` '-�`=-
<br /> `=�• accawt shall be cndital aith any batance remaining for aU instaltc�ents for iums ta),(b)and(c): . . -
<br /> ' 3. App�ee eE�ryse�. All payntentg wider Par�'�phs i aad 2 shall be applle0_by.l,ender as foQows: �..--'- . `. •�.
<br /> s
<br /> • t• �'r,to the moiigage�nsuranae pnKruum to be paid by�i�;der to the Se�etary ur to the monthly charge by the - . . ,�
<br /> = Socretary instead of the monthly raoRgage insutance paertu4u� ' •:?4u�•;
<br /> '=. ' ���.to any ta�tes,speciai asses.+ments.leasehold pa��n�s.s or ground rents,and fue,tiaod artd other haza��� _ . -
<br /> :�,..�sn�,�
<br /> , insurance p�emiams,as rcqwred: . , �'-
<br />, �,to mterestdue'under.the Note: . , . . . .,: � �� _
<br /> �� � gtj;$'�j,w anwrtization of tl�e principal of the Note: • �.�r;�.-. �J'_`'
<br /> , '� " . �;W late charges due u[KkE the Note. ;`�n��r•
<br /> - a, �'u�F�ood aed QtbM Hazacd/nsuranca Barroarer shall insure aU imprnvemenu on the Property,�vhether ngw . ?,
<br /> ���� ire existerice or su�q oently erected,agaiost any hazards.casua[tie�and contingencies.including fire,fa which Le� :-�.��'�:w����
<br /> ` " uiies imsurance. 'I'�is insur.u�ce shall be maintamed in the am�unts and for the periods that Lendcr requires. BorraRes '•��;�%.';..
<br /> �- '�`�" s1 all also ins�u�e all improvemenu on the Ptoperty.whether now in existence or subsequently erected,aga�nst tass by floods • . _
<br /> � ,.�.�;���. ta the eatent requind by the Secretary. All insurance shali be c�ried with companies approved by I.ender. The insurance • ' - '`
<br /> • * . ,,_�. , p olicies az�d arty renewals shaA be held by Lender and shall inctude toss payable clauses in favor of. and in a form " . . , = u:
<br /> - ;::.�� - . accepiable to,Lender. ` ._ .�� �
<br /> , � ;; ..r; . In the event of toss,Borrower s h a l l g ive L en der imm e diate ao t ice by mail. l.ender ma y make proof of loss if nat �'�� �
<br /> e_Yi .
<br /> , made presmptly by Bocrower. Fach insurance company concemed i�s hereby authorized and directed to malce payment far . . ,,;
<br /> � ' -such loss directly to Lender,instead of to Borrower and io Lender Jointly. All or any paA of the insurance prnceeds tnaY be �.- • '`�'_
<br /> f app tied by Lender,at its option,either(a)to the reductian af the indebtedness under the Note and this Security Insmiment, t _ '-�=T
<br /> �� ' first to any del�nquent amounts applied in the order in Paragraph 3,and then to prepayment of principa4 ar(b)to the ' • : ,��
<br /> restoration or repair of the damaged praperty. A�ry apptication of th�proceedg to the principal shall not eactend or postpane E '. . _ , �.._�
<br /> ' r" ��� '� ti�due date of the monthly payments which.are referrecl to in Par��raph 2,ar change the amount of yucb paymenu. Any ;,,i,;-•vn
<br /> �fi'F.���,.%'.• ' excess insurance proceeds over an amount required to pay aU o�c�scand�ng indebtedness nnder tho Note and this Secarity � � � '. `_�'�•-..-�
<br /> - : �.. . ' ���,;" _:�,. ,_
<br />. ; �y -- �•� � lnstrument sfiall be paid to the entity Icgalty entitted thereta. � .
<br /> ,�� �'�.n��_'
<br /> . In the event of foreciosure of this Securiry Insaument or othcr Iransfer of titic to the Property that extinguishes tt�e aa��
<br /> indebtedness.all right,titie and'mterest of Bortower in and to insurance policies i:�force tihall pass to the purchaser. . �'� �`°--�
<br /> _ 3. Occupancy.Preservation, M�intennnce and Protection oi tbe Property: 8orrower's Laart Appikatia�;: � . ,. ���
<br /> � - 1.ta9eLoid.�. Bortower shali occupy.establish,nr�d use the Praperty as Hoaower's principal residenco within sixty dap�s , ==='--"`
<br />.. . ,:..:. after the execution of this Security Instrument and sh�ll cantinae ta ck.cupy the Praperty as Hoaowers pdncipal residence t �;�°�
<br /> "' -•�- � for at least ane year after the date of occupancy.uatess the Secretzry•d:rerrtcir,es thi�reywrement wilt cause andue hardship f � • . • -
<br /> • Y` •`�'=>.��- fa Botrower.or unless extenua�ing circutristartces exist which are beyor_d BonUwer�comral. Borrower shall notify ' ,
<br /> ��...,,, �. '
<br /> • �.: �=�'•-•• = Lendera of any extenuating circumstances. Boao�►4.r tihul!nal commit w as:e or destray.damage or substantially change ,
<br />• ,:.,.�, - �- • • .
<br /> . •• . • the PropeRy or apow the Property to deterinrate.�cGsanable wea�and trar excepted. Lender may inspect the i'topeny if the , ,
<br />. � • Properry is vucant or abandoned or the toan is in defuuU. Lender may take rcasanable ac�ion ta protecl and preserve such � . ,
<br />-�.-- - - �.-,-_:.- - vacant or_abat�doned Properiy. Bortou�er tihall:sls�6e in detault it Bunatver,daring the loan application process.g�ve . __
<br /> ' materiali� false ar inaccurate ir.fa:�n:ation c�r statemcnts to l.endcr (or failcd to providc l.ender with any macerial
<br /> � ��.�•••:� „ infomf�t'.�aa)in conrsection with the}oan evidenced hy the Nute.including,hut n��t limited tn.representatians conceming
<br /> �. =�•� Borrawer's occupar.cy o�'the PropeAy as a principal re�idence. If�his 5crurity lnstmmem iti nn u Icasehold.Horrawer shal! • .
<br /> � ;;=-�-, compty with thc prov;sions of the lease. If Bonower ucyuites fec titic to the Property.the IcaSChold and fce titte shall no� , � � •
<br /> be metged unless Lender�grees to.thc mcrgcr in wri�ing.
<br /> • . '�: �., .. ' 6. Cfiar�es tn Burrower and PeMectiun ni Lender's Kights in the Prope�ty. B��t►nwcr�.hall pay all govemmental .
<br /> �• or municipal chargeti.fines and impotiitions that are no�iaciudrd in Waragraph 2. porro�vcr tihull pay these abligatiuns on
<br /> - '' time dlrectly to the enNty which is awed the payment. lf faiture to pay would advetaely aifect Lenderw intere�t in the
<br /> ' Property.upan Lendery request 8orrawcr sh�ill promptiy i'umi�h to Lcnder reccipts evidcnring thcsc paymen�s. ..
<br /> ' .� � , � If$or[owet faits to m�lce�hcse paymenta�r the paymentti rcyuirc� Ny 1'uragraph 2.��r fai�c m perfarm any nthcr
<br /> � ' . covensuits and agreemenis cantaineJ in thiv Securiry Insirumem.��r thcre is a Iegal pr��cecding ihat may�ignii'ic:intly affect :
<br /> , � Lender's rights in the Proprrly tsuch av a pr�xeeding in bankruptcy.fvr cundemnatt�m ur tv enfurce Is��vti or regulvtiom>. �
<br /> � . ___.. .._ , _ then Lendcr may do and pay whatevcr is ru:ecssary u�prntcet the value of thc P'ruperty:u�d Lendrr�rights in the Pn�pe�ty. .
<br /> including payment of taxes.h�.�rci insur:utce and other nems mentiimed iu Naragraph 2.
<br />__ _ _ _ .. --- - - qny;�a��ts disbursed try Lendcr urtder this i�.u:►�uph�lrall bea�ete:u�uddEtinn�{deM af$arrowcr an�3 t�e.�:ured - ,
<br /> ' . ' by ttiis Secudry tnstrument. Thesc amountx shall Ne:u�nterest from the datc�►f disbursement.a�the Natc rute.:u�d ut thc , •
<br /> optinn of Lender,shall be immediate(y due:uid p�yabte.
<br /> • . 7. CoedemiwNbn. The proceeds of:utiy award or claim for damage�.direct ur con.cyuential.in connection with any
<br /> • candemnntlon or nther taking of vny p:ut of the 1'tup�:hy.ur fi�r caiveyancc in placc of condcmru►Iion.are hereby:usi�ned �
<br /> �� � atxi sh�ll be paid tn Lender to the extent nf the full amount nf the indcbtedncss that rcmain��unpaid undcr ihe Nntc:snd this .
<br /> • • . 5ecurity Inswment. Lender shall apply such proceeds to the seducNon of the indebtedness under thc Note;u�d this 5ecurity
<br />_ ------'- -=��=---'- : - - Isls p�+ fus!t�an}�delinqnent stmountc a�licd in the order ptovide�l in Paranr•tph ;, :u�d then tu prcpaymcnt of --- -__:.v_._.._---_--.
<br /> , . principal. My npplicutiun nf the proceeds to the pnncipal shall not extend �rr�xritponr tfie due date ui the munthly
<br /> ' � ' � � . r�x,g�:�ja�,uxr..� ,
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