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<br /> --- ----w_,� l. p�ymeot ot priacipal�Intcrest pnd LAte Ch�.ry�e. Borrower stwll pay when due the prfncip�l of.w�d inta�st on.
<br /> the deb avire�ed by Ihc Notc and late chargea duc under the Note.
<br /> =_ ��r;,e �, Moathly payment�of'11�e�,loouraace and t7lher Chary{es. Borrower shall include in each monthly payment.
<br /> - . �;� together wfth the p�incipal and intercst as set 1'orth in the Noto and ony latc chargee, an installment of�ny(a)taxes and _
<br /> � ;j � spxial assessmente levled or to be Icvied againat the Property.lb)le�sehold paymen�s or ground rcnw on tho P�raperty.a�d
<br /> _ �'+ (c)pr�emiums for insurutce reyufred by Puagraph 4.
<br /> F.�c1� mon�hly inctnllment far items (e).(b) and (c) shell equal ane-twelfth of the annual amoun�s,as rcusonobly
<br /> ` estitnwtcd by L.cnder,plus an nmount aufficient to maintuin nn udditional balance of not more than one-sixth of the � __
<br /> zrv�• eadmated amounts. 71u full annual amount for cach item shall be uccumulated by Lender within o pedad ending ane �;
<br /> �,�,�: month before itn item would become delinqueot. l.ender shall hold Ihe amountc collected in uust to pay icems(u),(b)�rKl
<br /> °�._--��-�;�,.. (c)before 1hey become de8nquent.
<br /> ,..,t,_.,,._:;��=r !f et any pme the tWat of the payments held by I.ender for irems(a).(b)s�nd(c),�age�her with the futere mon�hly
<br /> rr•y ��;�-��-�. �� " � payments for such items payable to Lender prior to the due dates of such iterns.excads by more than one-sixth the
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<br /> ,�,�,�;'z,�yti,��r.,. ' esum�ted amount of paymente requi�ta pay such items when due,and if payments on the Note are curt�nt,then o er
<br /> ^` :..::8:� �••• shall either refund the excess over one-sixth of the estimated payments or credit the excess aver ane-sixth of tho estimuted
<br /> ���•�",:,;�p�,���;. , payments to subsequent paymenta by Botrowcr,at the option of Borrower. IP the tou►l of the puymen4v made by Borrower °
<br /> ±,_���A�,'�V�a'�• ' for itcm(a).(b).or(c)is insufticient to pay thc item when due,then Borrower shall puy to Lender eny amount na:essary to _
<br /> malce up the deticiency on or befare the date the item becomes due.
<br /> :�„�. �,,,�;�;,,,;,�.,,,:t„ As used in this Secudty Instrument,"Secretary"means t he Secre ta ry o f Houa i n g a n d U r b a n D evelo pment or his or her
<br /> _-.-�o;�:•��":.,, desi . In any year in which the I.ender must pay u maRgege insurance premium ro the Secretary.each monthly payment _
<br /> �_�__� a sh Also include ei�her. (i) an inatallment of the unnual mortgage insurunce premium to be paid by Lender to the _..
<br /> - -::,t�,,:- °"' ', Secretary,or(ii)a monthly charge instead of a moRgage insurance premium if this Security Instrument ia held by tl�e
<br /> �>��'�''�"' " • Secretwry. Eucb mon�hly installment of tho mortgege insurance premium shall be in an amount sufflcient to uccumulate the =
<br /> �- �-�='•,;�°'ri::�: full annual mortgage insurance premium with i.ender one monlh prlor to the da�c the full annual mongage insurancc -;
<br /> `��`'�'�''` remium is due to the Secrewry;or if this Secudty Instrument is held by the Secretery.encb mon�hly chnrge shall be in an r._
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<br /> .���':'%:' ' amount equal to ane-twelBh of ane-half percent of the outstending principal balance due on the Note.
<br /> �r , :�`±�`� .4 If Borrower tenders to I.ender the full payment of nll sums secured by this Security Instrument,Borrowera uccount �_
<br /> `s;.,��� •�;;:•: ': A shall be creditod wi�h the balance remalning for all installmenta for items(a), (b)and(c)ond uny mongage inaurnnce =
<br /> -- � • p r e m i u m in�tallrnent ihat I.ender hes not become obligated ta pay to the Secretary,end Lender shsll prompHy refund any `
<br /> �=:� .� • • ^ excess funda to Borrower. Ienmediately prior to a foreclosure sale of the Property or its acquisition by Len der.Bortawer h
<br /> W_��_ ` account shall be credited with any belwx:e remalning for all installments for items(a),(b)nnd(c).
<br /> ,,,�� -• � - „ 3._Ap�ItcAtion of Paymenta All pnymenta under Paragmphs I and 2 shall be epplicd by Lender ac follows: -_
<br /> F16FT �o the mortgage insurance prem�um to be paid by Lender to the Secretary or lo the monthly chargc by the
<br /> ':�'�� � � Secne instead of the monthly mortgage insurance premium; �'
<br /> •'=�:s. • �,to any taxex.speclul assessments,Icrsehold ps►yments or ground renls.and Gre.flaad and o�her huxurd
<br /> `�„-;,;,��u�,�.__. insuronce premiums,as requ�red;
<br /> �:'° --- .--,+°�= - �.to mterest duc under Ihe IVoic: __
<br /> _'`� � ,c�•" •'� �Q,ljgT}j,to umortization of Ihe principal of the Note;
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<br /> �- - �,to late charges dua under the Note. ,-
<br />-.,�,� ,':, ..a} 4. Fire.Flood and Other HAU►rd lnsuronce. Borrower shull insure all improvements on thc Property.whether nuw
<br /> :;•,.,1, � , in existence or subsequently erected, c+gainst nny hu�wds,CASQAIUCS� and contingencies,fncluding fice,for which l.ender
<br /> �, requiros insurnnce. This inaurunce shall be maintained in the amaums nnd ior the perials that Lender requires. Borrower
<br /> .;;,•:� „ ' ahall nlso insure all improvementa on the Property.whether now in existence or subsequently erected,aguinst loas by floods =
<br /> _T_� , , to the extent requircd by the Secretury. All insurance shnll t►e carrkd wi�h campunies approved by Lender. The insumnce _
<br /> „ polkies and any renewals shall be held by Lender und shall include losx puyuble cluuses in favor of, and in a form _
<br /> •• '�. acceptuble to,Lender. _
<br /> �''��'� In the event oi loss,Borrower shull give Lender immediule notice by muil. Lendcr muy make proof of loss if not —
<br /> ' ''`� made promptly by Bomower. Euch insurnnce coropuny concemed iti hereby auttwd�ed nnd directed to make payment for =.
<br />- such loss direclly to I.ender.instend of to Bortower und to Lender jointly. All nr any pun of the insurnnce proceedx may be
<br /> - • �° n�plied by Lender,a�its optian,cither(a)to the reduction of the indebtedness undcr the Note und this Secunty Inswmem, _
<br /> - • first to uny delinquent umountg appiied in the order in Parugruph 3, und then to prcpuyment of principul. or(b) to the -h
<br /> - ' " restoration or repair of the damnged property. Any npplicution of thc proceeds ta the pnnc�pvl shull not exlend or poslpone -
<br /> the due date of the monthly payments which ure referred to in Purugraph 2.ur chunge�he amount of such puyments. Any -
<br /> .`,-;,,;, ° excess insurance proceeds over un umount rcyuircd to puy all outstanding indebte dnexti u n der t he Nate an d t h is Securi ry
<br /> _ ��� � '� Instrument shall be pnid to the entity legully entitled thcreto. �
<br /> ' ° ln the event of foreclosure of this Security Instrument or o�her tmnsfer of ti�le to thc Property that extinguishes the _
<br /> - " � ' indebtedness,nll right,title und interest of Borrower in unci�o insurnnce palicic�in furcc shull pusx to�he pun:huscr. ��
<br /> ,^,�'' ,. �� �„ S. Occupancy, Preservation, Ma{nten�nce und Protectlon of the Prope�ty; Borrowers l.�wn Appllcation; _
<br /> - �:::r'" •� . - L,eASeholds. Bartower shnll occupy, establish, und use thc Property ux Borrowcrl principal rcsidence within siaty duys
<br /> •:uY-,;;'.; � . after the execution of this Securiry Instrument und shull cantinuc�o cxcupy the Pmperty ux Borrower ti principal residence _
<br /> __ •_ �� ° for rt Ieust one yeur nfter the dute of occupuncy,unle.s the Secrctary de�ermine,this reyuiremem will cnuse undue hurdship =
<br />�'-�" `� •� for Borrower, or unlrss ex�enunting circurrislance+ exitit which urt tmyond Born►wer; control. Burrower shull notify _
<br /> Lenders of any extenuuting circumxtances. Borrower shull not commi� wustc or Je�tmy,dumagc or xubwtuntiully change
<br /> the Properly ur ullow the Propeny to deterinrule,reusonablc wcur und tear cxcrptcd. Lc�xlrr may m�pect the Property if the �
<br /> ' . " � Property is vuc�nt or ubundoned or the loun i�in defuull. l.enJrr may tukc rcuzonablc arti�m�o pratec� wid prcserve�uch f
<br /> .;,},' � vacont or abandoned Propeny. Borrower xhall ul.o tx in default if Bon'ower, Juring�hc loan upplicution prace�ti,guve �
<br /> � � muterially false or inuccurute informution or titutemcntx �o L�ndcr (or 1'ailcd to pruviJc l.cndcr with any mutenul -•
<br /> information) in cunnection wilh the loun rvidenceJ by�he Notr,incluJin�.lwt nu� limited to,reprcsentutinns concerning �
<br /> Bortower's occupuncy of the Property us u prinripal rr+iJrnrr. If this 5ecuriry In,�runnm i.un a Ira.ehulJ.[iarcower xh;�ll �
<br />, ' , comply with lhe pruvisions uf thc Icatic. It Borrowrr acyuirr.frc litic tu the I'ru(xrty,lhr Icuxehold unJ fec IiUe shull not `
<br /> + be mergcd unlcxs Lcndcr a�recy to the merFrr in writing. �
<br /> � � 6. Churges tn Borrower s�nd Protecdon oP I.ender's RiRhts in the Pruperty. Horrower tihul!puy ull govcrnm�nlul �
<br /> . . or municipul charges,i'ine+und impotiilion�Ihut:irc rnit inrluded in ParvFraph�. B�.rn►wrr.hall pay�hexe uhligution,on L
<br /> time direcUy to the entily which i.owed thc p:►yment. If ftdlurc to p�y wuu1J udvenely uffrct L�ndrr's int.rrti� in �he
<br /> " propeny,upon Lendcr's reyues�Bomuwcr�hall prompdy furni�:h to LrnJrr rcrciplseviJencing thrx puymentx, �
<br /> • , It Borrower fuils to makc thc.r paymen�+ ar thr ��aymenls rnyuired hy F'ura�rnph �.�►r luil.to pertimn uny uther i
<br /> coveni+nts und ugreemi�n�s rontuincd in thiti Srrurity In�trumen�,ur therc i�u k�.►I pnxerJin�;thu�muy+igniticuntly uff�rt .
<br /> .�:__ :_ L....L�....•.... 1'.... •.1...••nwti.�n nr 1.�nnlnrr.•��u��nr mv11�t1110tl�L �
<br />, __._"c'tr r —'._--_ . . ....
<br /> 4enaerfi rignts in ine i�roperiy i,u�i� �+�jii�iiccuu�� u� ..o.......F...�. .... ............._.._...... ... _....--- .° �. .
<br /> • then Lender muy do unJ puy whiuevrr is nece.�ury w protec�thr vulue ol Ihr Propeny und Lcndrr.right�in thr�'n��xny, �
<br /> " incluJing puyment of taxer,hwurJ insurunrr und othcr item+mentiancd in P,u+i�r+iph 2.
<br /> Any wnountx disbur.ed hy Lendrr undrr this Prr��:ruph.hull txcomr an uJJi�iunul d�M uf Hurruwcr unJ t+r.ccurcJ
<br /> . ' by this Securiry Instrunxnt. The+e amoums shull txor mtrrc.t from the du�c��t'Ji�bunrmrnt,at �he Nu�c ru�c,imJ ut�he !
<br /> option of Lender,shall lx immediately Juc unJ puyablc. �
<br /> 7. Condemnation. The pnxeeJ�uf uny.�w;ud or rluim 1'or d:mrrge�.dircrt or con+eyurnliul,in cunnrr�iun N ilh uny
<br /> condemnation ur othcr�uking ot'uny part of'the PmExrty.ar for canveyimrr in rlace r�f cundrnmotiun.nn h�nh�•a,+i�;neJ
<br /> ' �' nnd shull lx paid to Lencier Io Ihc cxtcnl af thc t'ull umaunt of thr indcbtrJnr,+thul rcmain.unpaiJ w�drr Ih�Notc anJ►his
<br /> " �I Securiry Instrument. Lender tihull npply such prexe�Ki,�i�dir nJurti�m�►f the indeMcdna.unurr ih�Notr;uiJ Ihi�tircurily
<br /> Instrument, fint �o any drlinyucnt um��unt+ applieJ in �he unler provideJ in Prri+graph 3. :mJ Ihrn tu prepa�mem ul'
<br /> princip•rl. Any upplicution ol the pnxe�Js lo the prinripal shall ndt rxtenJ ur�x�xtpone the duc Jiue ul Ih� munddy ,
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