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<br /> � � L:!�t tlN�ei�l,bles+eit M iate CI� Har�ower sb�it py wDea due t�e pdncip�l d.aa�in�t oe.�� � .-
<br /> ' � � �Ye de6t avidaK�N!b7►16e No1e aod Lle ch�es due wider t6e Na�e.
<br /> . 1 �r��eals�'h,aeR bww�oe�i Olier Ci�r�et Hceowa a6t11 inciode in ac6 mood�ly pRymaK. �
<br /> ` .'�dher with tho priae�l�od io�eiest as set fath ie dre Nae aad any W��e i�u8es-ad i�tallaKnt of any ta?taxes�nd ,
<br /> • q�ecial�Ievieda w tie kwied agaiaa tbe Pmpe�ty.tb)leaseboid P�Ymeds a��eecs ca tbe Ptvpeity,aad • �
<br /> (c)P�fos iusur�oce�equ�ed isJ►�ara�h 4• , . � :
<br /> ' Fach m a�d d Y i m W l�t fos items ta� l b 3 a o c i(c)s b a ll o q a a l a o�t w e l R h o f t h e a m w l�u a o a n t s,a s c�o o�b 1 Y
<br /> ` ` e�1ad by i.,eeaeti plus an amoiust suffcient w to�in an sdditionil 6alauoce of aat m�o�e tl�n ano-sixtb of the
<br /> _ ' e.�e�-m o o m�b. '�Le fu!!aan+�l�n+n�t for esch ioein si�il6e.acraun�litod by Lendec witlun s perjod ending ona
<br /> __ .._�.�—.
<br /> � moatti befa[e an item wouidbecome delmqamt Leada s A a l l h o l d t h e a�nts c o t l a c t a d"m u u s t t a p a y i t e m s f$k t�?a p d �_
<br /> . (c)befae t6ey become detimque�. , ` — ---
<br /> . ff�t�my time tbe tovl of tl�e pRyma►ts I�eW tiy t�nder foc iams E�},(b}�nd(c�togeths witb die fadue moothlp -
<br /> P�YA►a�far such items pryable to Lrnder prior to tbe dae dates af such items,exoeeds by moee than ono-siath tl�e' —
<br /> auas�ed ama�oe of PY�s�N�wpry such wems wben duG aod if payn�us an d�e Nae�ne c�aeau,tl�Lrnder
<br /> alWt ei�her refand the exass over aae-snuh of the atim�ted ps�or c�edrt the eaccess over anc-s'vith of tl�e�d
<br /> P�Y����P�Y�bY��•at ihe apom o Bamwer. if tbe tutal of the psymeati made lry Bac:ovrer
<br /> for ilam(a).(b).a{c)is i�cient to pay tbe itan wlKn due.thm Baaowes sha11 pay to Lender aay amonnt oecess�ry to
<br /> m�aira ap the dcficia�cY ou arbefae tl�d�ta the itetn 6ecanes due.
<br /> As used in ihis SSecunu'ry I�irumaN,"Secnta�y"�ns tb���Y of�Iousing aad Urb�n t7evelopment or his a det
<br /> desiaeeG. tn aay yeu in wbich tl�e Lrnder uwsc pay a matgage insur+nce p�emium to tHe Sa�etarY.each monthtY WY�
<br /> sB�ll also mctode eitUer: (i)an�spllment�ti� an�mort8a8e�P����P�ai'l.ender to the
<br /> Sec�tary,oa(ii)a montWY clvr8e iastead`of a moitg�ge ins�aa�e premiwn if this Securty Tnsdwaenc�s hetd by tl{� =
<br /> ' � Sectewy._Fach ma�thly installaxnt of tbe matgage insut�nce IKemiwn sha1l De in an amount sufficieat to accumulaoe the
<br /> . fWl�a�wal awrtg�e�ooe Pmnium wit6 Leader one monW pna to tl�e date tbe fn11 aunual matga8e insurance � - _ —
<br /> = p�emium is dae to tbe Secraa�os if this Soc�rity�er►t is held b�tbe Sa�csta�3:each moatbly ch�rge sball be h►aa ---__
<br /> -= amount apW w one-tweifittt of aoah�lf pe�cea�t of the oatstatdin8 P�P�6al�Kx doe on the Note.
<br /> - If BaROwer unAas to I:eader tbe fuii.•�►Yment of all sums sSc�uod bY this.SecuiitY L�sAVmrnt,Bottower�s acco�mt
<br /> _ s�ll be crsdited with H�c bataqce sem�inia8 fa a11 inaaiLnaits for iteaos(a),(�1�(�)�aa wy moKgase ins�u�nce
<br /> p�ium i�stsihneat t6�t Lea�der=has aoc 6ecome abligated to pay to the Sccaetary,aad Lender sh�ll prompdY:efiu�d aay —
<br />.-;�?'; , ea�a4s fiusds w Bormwer. d�auiy p�ior to a foiectastue sale of the Pnupetty a its acqaisition by l.ender.Barower�a ------
<br />-'`: sccouat sdaU be c�dited with acry balance nmaining for aU instalUne�ts for iums(a),tb)and(a).
<br />_ ' . . �A���rj�, p�p�y�a under p�a�aphs!aud 2 si�all be applied by l.ender as follows: , � - - �`�'�m��-
<br />•.,��� .
<br />-'•:'t�Y �co tis�mortgaga insutance P�essuum to be Paid by I.ender¢othe Secretary or to the montlily charge by the ��.��-
<br /> ..{`_ ' l 4�--� --
<br /> - , S�IAStC�Of 1I1C IriCtlt�tlJ�t4�E�*3$C IIlS11TiU1CC pOCR71plII's _�,:,.F_._ -
<br /> �Q,,to at►Y taxes.speciat assessments,leasehold paymenta or g m u n d rents.aod fire.ltood and otlxr hazand �—---
<br /> , : insuraace p�eatiums'as requBed' _ �;�
<br /> �p rn inttzest due ur�det t�e Nate; ' -----
<br />: ;; -`r �jj$�ta amoctizarion af t1�@susccpal of the Not� � _ —- -
<br />;_,-.�:. ��a iate charges doe underthelliate. "—=--
<br /> 4.Fir+e,I�7oo�aod Otf�tr Naz�ard Iasaranca Bonawer shall insure all improvements on the Property.wbetber now --_---
<br /> '•'�.'�: in exisuocaor subsaluanlY.emcted.agaiast any hazards,casualties,and contingencies.including t"m.for which I.ender b=��--
<br /> � 4��.. ��qoins insuranca 7'his m.uuance shall be maintained m the amounu and for the periads that l.ender�ryins. Bomawer �.�
<br /> . shaU also insure sri imp�ovements on the Property.whether now in ezistenct or sabsequcatly erecad.against loss by ftoods V . � .
<br />: ,-r to the extent requued by the Secretary. AU insurance shatl be carried with camparries approved by Lender. The insurance ,'� �,u�,.,;;^
<br /> pul;Cies and any renewals shall 6e hetd by Lender and shall inclade toss payable clauses in favor of..and in a form ,,. .�,::,;�
<br /> acceptable t�l,ender. . ',= ` '-_
<br /> • In the event of loss,Basmwer shall give Lender immediate notice Dy mail. Lender may make praof af loss if not ... �_
<br /> tnade ptom�tiy by Borrower. Each insurance compan y cancemed is hereby autharized and dim.eted to make payment for ;:`�tu,±'�j •_�_:-
<br /> s a c h loss d u e c t ly t o L e n d e s,i n s t e a d o f t o B o r r a w e r a n a t o L e n d e r j o i n t i y. A 1 1 o r a n y p ar t of t h e insurence p�o c e r.ds ma Y 6e ':;;;�;,;�r,s�;:-
<br />_ app lied by l,ender,at its oprion.either(a)to the teduction of the indebtedness under the Note and this Security Instcuntent, ,�;,.::, . .-3..
<br /> � first w any detinquent amonnts applied in the order in Paragraph 3,and then to pnpayment of pdncipal,Or(b)to thC r•���:f_�y,.�_
<br /> ga
<br />- . �+estarallon or repair of the damaged pmpesty. My application af thF proceeds to the pnncipai shalt not extrnd or postpane �-,; �==.;;:�;;,
<br /> "° the due date of the monthfy�ayments w3�ich are referted to in Paragraph 2.or chanae the amount of sucb payments. Any :;'"'•:'`._ ---
<br /> ,�,,,;�.. :�`-
<br /> •Y;- y�ccess lnsurancc proceeds o-car an amount required to pay all outstandmg mdebtear,�ss under the Note and this Security ;;.;;.:_, :, ;`�_----_
<br /> . � Urw•isument ahall be paid co s�.''�entiry legally entitted therew. ;�.-•:t;�,'•:�4 u-_"----
<br /> � ,� In the e.vent of forecfosure of this 5eturity lnstrument ar ather transfer of r.ti:to the Property that exei��shes the ��.�:.:,��;.r:�?ri�;
<br /> tndebtedness,a:l right,title and interest of Borrower in and to insuraane policies in force shall pass.�r the purchaser. �r••'��_��
<br /> : � 3. Oocupaecy. Preservation, MsrintenAace and Protection o�the Prapecty; Borro�rer's La�a Appikatlan: �'=•�'`c��"::`-.;-
<br /> � �;.;• ° ° ;, �• _ ..--
<br /> � Lasehold+. Bortower sha?l occupy,establish,and use the PrapeAy as Bortowe�'s principal residence wlthin s�xty days �'�„• -.��.r�,
<br />-� :�; a8er tl�e execution of thas S:curity Inctrument and shaU conrinue to occupy the Rnpeny as Borrower's principal residence i.�;.;;,:�.;r.:��4�:'��
<br /> " ; for at least one year after t�.�ate of occupancy.untess the 5ecretary determincs this coquirement will cause undue hardship i;:;:;_;':;,� ,',.' ;��
<br /> � for Boaower,ar untess 4'�:nuating clrcum.gtances exist which are beyond Bocrawer�control. Borrower shall notify t..�,�,;,• .
<br /> - �� Lenders of uny extenuating circumstances. Borrower shaU not cammit waqte or drstroy.damaae ar substantially change . . . . . _
<br /> t}�e property or allow the Roperty to deteriomte.reasonable wear and tear excepted. Lender may rnspect the Ptaperty if the •
<br /> � .�' propeRy�s vacant oi abandoned or the loan is in defau(t. Lender may take rea,onable action ta ptotect tind pteserve such �
<br /> ' ��'����-'- vacant ar abandoneG Pta Borrower ahaq ulso be in default if Bortower,during the loan application prc�cess.gave --- ,-. ,--- - .-- -
<br /> - - - P�Y• , •
<br /> matedally fatse ar iRareurate �nfom►ation or statements to l.cnder (ar tailed to provide Lcnder witB aay matenal f ;��;�
<br /> ;:. , •' .'`t ' infarmat ion)irr conn•..etio;e with the loan evidenced by the Note.including.but not limited to.representations eonceming ;•, ,
<br /> , :- '�. Boaower's atcapancy tsf the Property as a principal residcnce. Ii this Scrurity lnstrument is on a ic:uehold,Barrawer shall � ' . .
<br /> � �'�.:�� comp ly wi t 1�t ha prov�sio ns o s t he le a s e. 1 t 8 a r r o w e r a c y u i r e s f e c t i�l e t u�h e P r o p c rt y.t h c l e:u e h o 1 d u n d f c e t i t l e s h a l l n a t
<br /> . - -�;�ti be merged untess Lendet agrees ro thc mcrgcr in writing. ° , ,
<br /> ' 6. Ciarges tti itorrnwe�and Nrotectlon ut l.ender's Rights in the PropeHy. Borrowcr shall pay all govemmental
<br />- � �. ' ""' or munlcipal chargey.fineY and impositions that are nat included in Par�graph 2. Borrower sh:�ll pay these obl�gatians an ,
<br /> i-� ,,� tlme direcUy to tfle endty whlrh is owed the paymcN. lf fs�ilure to pay woutd advenety nifect Lenders intcrest in the � �
<br /> ...+s: • Ptoperiy.upan Lender's request Borrower stial l prnmpUy fumish to 4endrr recctipts evidencing these p�yments�. !���' _ . .
<br /> ° �"-.,''`�- : - 1f Horrower fails ta muke these payments nr thc payments requ�rcd by PuMgmph 2,or fails to perWrm:u�y athrr � •
<br /> • ' �'�-�= covenai►ts and agreements contained in thi.q 5ecudty Instniment.or there is a legnl proccedln�;that may v�gnificantly affect �• �
<br />- . ..s;,.�� `;'::. Lender's rights in thc Ptoperty(such as v proceeding in bantwptcy.for cundemnatian ar to enfarce laws or rcgnlatians). ,. .
<br /> • • -• . then l.onder may do and pay whaievcr is ncress:uy to prutcce 1hc valuc of the Property sind Lcndet 5 rights in thc i'rnperty, ; ,
<br /> . ' " ' � • inctudiag payment of taxes.haGUd insurance smd other�tems mentionrd in P:uagraph 2. ; �' �
<br /> . . - --�- � '� Any amounts disbursed by tender under this Puru�rsph shall become an pdditian�t debt of 8em�wcr w�d be se��ured = -
<br /> >�:�`-" .� � � by this 5ecurity lnstrumem. These:unounts shall bcat mterest from thc datc of dlsbunement,at�he Notc rate.and at the ! . •
<br /> _ ,�---- . . .
<br /> . m :.;<� � �- opntm of Ltnder.shall be immediately duc and pay:+ble.
<br /> :;:,t,�''�,__.,��`•.; . ' Z Coedemaatbn. The proceeds ot any awsvd or claim for d;unages.disect or cnnseyucntial.in connection with any • �•
<br /> � _' •� • - condemnution or olher takinfi of any part vf the Property.nr fvt�nnveyance in place ot condemnation.ure hereby�,�st�ed .
<br /> . •� '�:�'',_=��:�; �nd sh�116e paid to Ltnder to the extent af the full amaunt of the incicbtedness that rcmains unpaid undcr thc Nntc and this , '
<br /> --,:.,
<br /> '-` ��"";x•' -'= 5 e c u r l t y I n s t r u m e n t. L e n d er shall a p pi y such praceeds to the tcducHon of the indebte�iness under the Note:uid thiv 5ecurity ' •
<br /> • � � �.::�'�.,�_.:_i._ •. - �
<br /> _,-- °� lnsirutncn��t"trsf to a�y de1u'sgueae:u�tount�-sspplIet!la.�otdei pt4vide@ in Par:�gr,�h 3,:�nA thrn tn pteg.�syment of �_.. . . ';._
<br /> � ',�.,�-�.`: 'y pdncipal. Any't�pplicadon of the prareeds�td the pnncip�l shall nut extend ar pastpnne the dur date uf the munthly ; �-��V_
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