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<br /> L d Pei�ciNi.�lemt atl I.sle Ci�r�e.Bamwet sbs11 PaY wlfen dne Ihe priacip�l o��nd iaterest an. `
<br /> : tbe debt C�bSr tbe Nc�e sid�ch�ges due�mdes th Note.
<br /> � �!P�7!�w�'j1��L�ra�ce s�d O�'47�• �a��in each monthiY pa�yn�t. .
<br /> . w�etha Mnd�the p�acywl and•in6�est as sa fa�th in tbe Nde aed any tue eL�uges..aa ia�tall�of any taa taxes�d:
<br /> spxia!�tsesm�ents leviod a to bF leviea ag�inst the Propaty,(bl le�seMld paymena or gro+uid�encs oa tl�Pfoperty.aad . -
<br /> <cj lxemiuras for msunox�qniied by Pf�r�gaph 4- �'
<br /> F�ck mon161y i�ment for ite�ns(a),Eb?and tc)si�aU Mua!onatwelfth of tlre 9anual aniounts,as nasooablY � --
<br /> estimated bx i,ander,Ptus w amoant su�cient w maintam aa addidaml b�tance of aot mw�e thaa oae-sixd�of the�
<br /> - �amaunta. 'iT�falt�ust amo�at far eac6 iterit�sin�be sacumnt�d by l.eMer within a periad sading one� _-- ----------- --
<br /> madb befone an ium waild becoma delioquent Lender stWl6oId the amouots collected ir�tinst ta pay items(a),(b)and �— _ _
<br /> (�)bcfa�tbeY becum�dttin4uen� = ----
<br /> If at any time the w�al of tUe paymeats hetd isy Lender far iums(a),(b)and(c),wgeti�with tbe fut�ne monthty ' _--___-.
<br /> paymaka fa aach uems psyable ta I.�nder prior to tlje due d�es of such items.excesds by mon tl�w ooe-suth the _--- -
<br /> estimtw�am�nt of AaY��Ta9��p�Y�ltems what dae.and if pa ts on tLe Note�e cu�nat,then l.ender ----
<br /> - s1�Il eitlrer t�eflud tl�e exoess over oae-sixtlr of tbe es�mated paymeats or�exc�ss over one-sixth of d�e'est�ted ----- ---
<br /> - payme����Po►Y�bY:Borrnwer.at the aptiao of Homawtr. if the totai of t6e payments made by Ba�ower ----- -
<br /> �or item(s),(bk or(c)�s msufficieat to.pay.the iu�s w6en due,tha►Bonu�ver sTiail pay w#.eadecany uoount.oecess�rY m - �`
<br /> - . mair��p tbe�deficiea.y an or 1�efoze thc aate the ite�bocomes due. � ' ' •
<br /> •�` - As asod m this Seca�ty Ias�a�tian�;•"Sac�etary•• Secreta�y of Harsing . dapment _ =
<br /> iaeans dfe ao�Uibut D�v or ins or her
<br /> �. in an ear iawirieh the Letidermust pay a aiortgage insurence pc�emiuin w diG Sec�tary,eac�i�Y PaY�t'. - - -
<br /> .`.':�g��, yy
<br /> ' ,:� �'sb9Il also incttde eitt�c���{�}an inst�ttexnt of the�umat mortgaga ins�c.e.�anium to be�aid by Lendeo to tbz �
<br /> "' �. Secietary,or(u)a montlil}c6arge mstead of a moitgage insuranoc pc�etniam if ttus S�ar��Y In.strumrnt�s beld by tbic �� _
<br /> o':: . ; �Sa�etary:,�a�cb montf�Iy installaxnt of the rtartgage iaswaace pcemiam s6alt be in an amamt safficient w a�cumulate the �-�";,
<br /> a
<br /> faD umuat mat8a8e insue9nce p�ium wtth Lender one moatb priar to tbe date tl�e full annual mnrtgage insurance !� ��----
<br /> � '= p n m i�m i s,d a e t o t l�e S e c�t a i y;o r i f t h i s S c c u r ity I n s u u m e u t i s he ld b�r the 5ecce t a ry.eacb m a n t h l y ch a r g e shall be in an , �-- r
<br /> '.�;�- amau�t equai w ono-twelfth of aie-haif peatnt o f the outstanding prir�ccpab 6alance du�on the Note. `-=-
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<br />- ;f Rasuaer tendus to Lender the fup paYment of ail sums secuied 6y this Secarity lii.st�artKnt,Bonuwa's aeeoant ,-_.�
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<br /> siu�U ee cc�edited with the balAnce remaining for ap u�stallnxnts for items(aJ,(b)and(c)and any matgage insurance '�r�._
<br /> �, pnemium it�stalltoent that l.ender has not becane obugated w pay to the Secnetary.and L.ender shall lxnmptl9 rtfund an�r >:r.::••-
<br /> , r'• �x�s funds to Bonuwer. Immediauly pria to a fonciosu�sate of the Ptopetty or its acquisitian by l.endcr.Bormwers -
<br /> ___ _ ,,accdsnt sdall be cta�ite4 witb any balance remaining fo►ail lnstaltments for items(u).(b)and(c). , =
<br /> 3. Appiieatloo a�P�ymeats. A11 paymenta under Pamgraphs 1 and 2 shall be apptied hy Lenderas foltaws: � � ��,
<br /> ., � �g$�,to t h e mwtgage insurance p�r,m lu m t o 6e paid b y Lender to the Secce t a ry or to�he monthly�eharge by the •
<br /> • • Sx�et�uy inst�:ad of the monthty martgage insurance pcem�um; •, .'��.
<br /> ' �g&QrjQ,to any tai�es.s}tecial assesssnents.teasehold payments or ground rents.and fire.8aod and other hazard - - ". �;����
<br /> �`., , • I' , :��
<br /> _ iasuranctpnemiWns;asrequ�rcd: ; �
<br /> - �]j$Q,to intCC�est due u n d e r the Note• =r�W-.,:,,F,�-�—
<br /> 'a : �,to amortizaqan of the principal of the Note: - 'r�° -w- ;-.�
<br /> � �� �.to late char es due under the Note. '�,4';`1;'�,�`..;���
<br /> .�: q. Firti Flood aad Other 11f�rd Iasurance. Borrower shall insute all improvemenu on the Property.whether riow ' -
<br /> in e�dstence or su�q uently erected.against any hazards.casualties.and cantingeacies.includiag fue.for which l,etKler ~���7:�=�_'�>`:��'�'�
<br /> 1.�' ': tequires insurancc. This insucance shall 6e maintatned in the amounts and for the periods that l.cnder reqaires. Horrower '
<br /> ��° • ` sl�all also insune all improvements on the Properry.whcther now in eaistence or subsequentiy cnected.against loss by flaads ., �'���
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<br /> ;��x,.-�:t<.r_ to the eatent l e q uited b y the Secretary. All insurance shall be carried with companies approved by Lender. The insurance � � .
<br /> . ���:��' - ° �°•� pollcies and any renewals shall 6e hetd by i.ender and shall include toss payable ctanses in favor a f.an d in a form ` ,.>,�>
<br /> . �<T��`','"' acoeptable to,Lender. • :J;`:•-'�
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<br /> ':�.��;".�_:��;.f,� In the event of loss.Borrower shall give Lender immediate notice by mail. Lender may make proof af toss if not •�:"-`•`.'�:`-
<br /> �- ' -'� made promptiy by Bos�uwer. Each insurance company wncemed is hereb authorized and directed to maice ent far , ., �
<br /> Y �3,� �•�,. . :, � :•:�'-:.
<br /> '- stuh loss directty to Leader.iastead of to Borrower and to Lender jointty. AII or any part of the irrsurance proceeds may be 4�,;:� �, � � . =
<br /> ' • applied by Lender,at its option.either(a)to the reduction of ihe indebtedness under the Note as�d this Securiry In.stnunent, ` ;__
<br /> ^ � ` f i rs t' to aay delinquent amounts applied in the arder in ParagraAh 3.and then to prepayment of principal.or(b)to the _:�•t:;-__
<br /> �, . _ _ ...-=.I...�.s�;; . restoratian or repalr of the damaged property. Acry applicatian of the ptoceecis to the pnnc�pal shall not extend or postpone � ` ..�.,:. •'���,;t����-
<br /> � � �;t;-'�.��
<br /> ,� :;�'„�;:��• ihe dae date of the monthly paymen�s which are refeaed to in Paragraph 2.or change the amo�m of such payments. Any , • �;'�Ft;-.; .
<br /> ���•.::;.•;.. , ,.�:,4.c-•� :.
<br /> �-.,,,-,�.�.,.• excess insurance proceed4 over an amount rcquffed to pay atl outstanding indebtedness under the Note and this Security .,�,�..�.
<br /> � � ,�,.:;�1�; Insuumant shall be paid ta the entiry tegally entitted thereto. ,°; --- �x
<br /> ��"'°-4�:� ln the event of fom,closure of this Security insttument or other trancfec oi title to the P:operty that extinguishes the . �.,__—
<br /> . =cA�,._ , :a.�
<br /> � , indebteclness.aU right.title and interes�af Borrawer in and to insurance policies in farce shult�ss to the purchaser. .; --
<br /> . �': 5. Oocupancy, Preservatian,�laintenance and P�otection of the Property: Bar�ower's t.onn Application; • ' '';�',�,__-_
<br /> <�1 .� 1.tuehoW�. Borrower shall c�ccupy,establisb,and use the Property ati Borrowcr's pnncipal residence within s�aty days t `"T�r,
<br /> d;_;�� after the exeeution of�i;is Securiry insaument and sha)1 cantinue to occupy the Propeny ac Borrower is principal residence ;:. +*•�:
<br /> , :��,E.'°:i• forat least one ycar a�t�^r tfie date of occupancy,u�atess ihe 5ecrctary detertniacs thiti rcquirement wili cause undue hardship j;'. . . ; ��•�;;
<br /> _,11�'';�,`,_;.;� , for Horrawer,or unless extenuating circumstances exis�t which are beyortd BarrowerK control. �orrowee shall notify �
<br /> _,;.; �„ . l.enders of any eatenuating clrcumszances. Borrower shall not commit wa.rte or destroy.darnage ar substantially change k �
<br /> the PropeAy pr Allow the Properiy ca deteriorate.rcasonabla wear�nd tear exccpted. Lcndet may�nspect the Property if the ! .
<br /> �� Propetty iw vacant or abandaned or the loan is in default. Lendcr may take rcuconuble actian ta protect and preserve such � �
<br /> - - ' �-'_-_ �- vaearn or abandaned Pcopertp..Hanower shap also be.in default ii Bonower,during thc toan application process.gave {' _____•' .'_
<br /> :�:�,,;,:.;:,,.� � m�terially false or inaccurate mfotmation or titatemen�c to Lender (ar failed to provide Lender with any matenal r - - .
<br /> . . �•: - informadon)in connection with the loan evideneed by the Note.including.but nat limited to,representationy conceming , ,
<br /> Hmrower's occupancy of the Property as a prineip�l residrnre. If this Security lnstrument is an u le•rsehold,Harrower shall
<br /> ' '" romply wi�h the provislons af the tease. 1f Borrower:�cyuite�tee title to the I'roperty.the tesschald and fec tiUe shall nat � .
<br /> . � be merged unfesw Len der ugneeti to t hc mcrgcr in writing. �
<br /> � . ' - � 6. Char�es to Burrowe�and Prutectlun ut Lendee's Rlght9 in the['�opesty. Harrowcr sha11 pay all gavrrnmental f
<br /> � -; • or municipal cfiatges.ilnes and impositions that are nat includcd in F'�.uasruph 2. Harruwer shall p:�y these obligations on � '
<br /> • •� tlme dirccUy tv the entity which is owed the payment. If failure to pay woutd adversely affect l.endcr:v intere�� in the ;
<br /> ' 1'roperty,upon l.ender:s reyuest Hunuwer shttll prumpAy fumi�b ta l.ender reccipts evidrncing these payments. !
<br /> . lf Borrower fails to make these paymcnts or the paymcnts rcNuired hy Puragraph 2. nr fails tn perform uny athcr �
<br /> �. � • covenants and a�reements contained in this 5ecurity InxtrumeN.or there i�u Icgsil prc�rreding thal may s�gnific:u�Uy affert .
<br /> • . Lender's rights��n the Prnperty(yuch us a pr��ceeding in b,u�ktuptcy.far condemnation or to enforcr luwy nr rcgulatiuns>.
<br /> • � " ' -" -` then Lender may do:u�d pay whutevcr is ncressury to pr�tert.hc vatue of thr Prdprrty snd I.ender ti righty in the Property. . �
<br /> • - �- -- � - including payment of taxe!►.hazard insurance nnd other items mentioned in Puragraph 2. � .. _ .
<br /> My amuunts disbursed by Lender under thiy P�ra�eraph shall hecome an additional debt of Buaower uitd be secured r .
<br /> . by ihis 5ecurity lnstrument. Thes_�mounts sha116ear intcrest from thc date nf disbursement.at the Note rate.and nt the � . .
<br /> • opion of Lender,shall be lmmediat�ly due und Q�ya61e. i , •
<br /> � . • . • '. 7. Condemnatioe. '1'he prooeeds of uny award or rlaim for damagcs,direct dr eonsequenti�l.in connecdon with any .
<br /> . . raideautation or oiher taking of any part ot the Prnpeny.ar for conveyance m ptace of condemnudun.�t'e hCreby r�ss�gneci � -
<br /> ' , . and shall be paid to LenBer so the extent of the full amount of the indebtedness that remains ung�aid under the Nnte and thi� � �: .
<br /> Se�urity lnswment. Lender sha1J z�SpSy such prnceeds to the reduction af the indebiedness L:��er the Note and this SecurF4 �. _ � .. � .
<br /> - _ �nstrument.firsf tv any deTm�ner.i amaunts applfi�d ir. th� 6t�er pmvided in Pa�ugraph 3:atr�therr mp�epay��enrvf �-_�_: _ __--
<br /> a
<br /> . principal.- My applicatian o the proceeds tn the principal siiall not extend or posip�te the due datc of the mdnthly .
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