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<br /> �'s�� 1. P�yment of Prlacipwl.Interest Aad Lqte CbarQa Borrowcr shall pay when due tho pdncipal of.wid iotercrt an,
<br /> �,��;-- the deM evirer►ced by the Note and late charges duc under the Note.
<br /> ,���•��,�. 2. Mon�hly p�ymept�ot 7bxea�lawranee And Other Cbwr�e�. Bormwer shull Include in each man�hly pAyment,
<br /> :�_ ' �T.�'``" , together with 1hc princi{wl and intcrest as set forth in the Note und any lete chargea,an inswllmenl of any(A)laxes ond
<br /> . �. �,,,r y ,. specia!asscssments levied or u+bc levied against tho PropeAy.lb)leasehold paymenta or graund anw on the Property.ond -�__
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<br /> ' � (e)p�miums for insurance required by Paragraph 4.
<br /> Each monthly inst�llment for items (a), (b) end(c) shall equal one-tweli�h af�he annual amount�, as rcasonubly
<br /> � ;� . '�"'`= estim.�ted by Lender, plus an umount sufticient to mainu+ln an ndditional balance of na mare thnn one•xixih of the � _____
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<br /> ` : F ;,;, estimated amout�ts. The full annual amount for eech item ehail be accumulated by L.ender within a period ending one
<br /> �'�.;.�.,...�''��.` mon�h beforo an item wou l d b e come d a l inquen t. L e n d er s h a l l h o l d t h e a m ountc collected in wst to pa y items(a).lb)ond _
<br /> ��a,;� (c)beforc they become delinquent.
<br /> ���w�h��. If at any ume the wtal of the payments held by Lender for items(a),(b)und (c),together with the fuwre mon�hly
<br /> •���-'':� paymentx for such items payable to Lender prior to the due detes of such items. exceeds by more thpn one-sixth the
<br /> i,r:.:r:;y��-�=�:c;i•. estim�ted amount of payments required to pay such items when due,and ii paymenta on the Note are current,then Lender =�__-
<br /> -- -- . •'°�: shall either refund the eacess ove�one-sixth of the astimated payments ar credit the excess over ane-aixth of the estimated � �_
<br /> �:'::;,5�;.,tft��,,. ,,, payments to aubsequent payments by Borrower,at the option of Barrower. If�he totul of the payments made by Bartowcr
<br /> � , �;ti,.,.��,.<<�,,�� , for ilem(a).(b).or(c)ja insufficlent to pay the item when due.then Botrawer ahall pay ta Lender any amount neceseary to ___
<br /> --- ,• .��.. ;� ;.•±'� make up the deflciency on ur before tl�e date�he item becomes due. ___..
<br /> ' ;:;..f;.;�;;�;1�• �ti ; As used in this Secudty Inatrumenb"Secretary"meana the Secretary of Houaing and Urban Development ar hie ar her -- -
<br /> - `;.�:' `;;•S:�:' desi ee. In any year in which the l.ender must pay a mortgage insurance premium to ihe Secretwy.euch monthly payment
<br /> ,..�.,r.:.»��::,•:�.u..�+ � .
<br /> , . ahal also include.either. (i) an installment of the annual mortgage insurance premium�o be paid by Lender to the ___ _
<br /> ' ��"'" "•��,*, Secrewry,or(ii) a monthly charge instead of a moAguge insurance premium if thfs Security Instrument (s held by the
<br /> ' ���.''�-'-'�z'=}�h��''' � Secretary. Each mnnthly inatallment oithe mortgage insu�unce premium shall be in an nmount sufficient to accumulate the �,a,�,.,.�,
<br /> �' a . .��.=.,,���� full annual moRguge insurance premium with I.ender one month prior to the date the full unnual mungage inaurnnce �-�•::�:.
<br /> � p` pnmium ia due to�he Secretary;or if thia Securily Instrument is hcld by the Secretary,ench monthly chargc ahull be in ua �� ��'`-
<br /> :�:�- " '�••'r'�•' omount equal to one-twelfth of one-half percent of the outstonding principul balunce due an the Note. �
<br /> �;� �• �; If eortawer tenderx to L.ender the full paYment of ull sums secu�cd by thix Securi�y Inatrumen�,Burruwerk uccnunl
<br /> ,,{_� • • � ,,�i shall 6e credited wi�h the balance�emaining iur ull installmentx far itemK (ul, Ih) and lc►und uny mungage insurance
<br /> ,. ; � premium instellment that Lcnder hacnot become obligateJ a�pay ta thc Secmtury, and I.cndcr„hull promptly rcfunJ un
<br /> - '��"' excess fundR to Borrowcr. Immediotcly prior to a Ii,RCloxure +ulc of�hc Nropcny��r Itx acquf+.itiun by L.mJcr.BuRUwcr�
<br /> wxaunt Khull be crcditcd with uny Iwlun�;c rcmuining fiv oll intitullmcm�f�K itcmx�ul.(h)und Ic).
<br /> • i. Ap Ilc�llon af Pwymenta. All puymcnla under Purugraph� I and 2 xhull ha upplirJ by l.cndcr ux GdlowK:
<br /> _ �3-'•""'" ``'" � � ,to thc moh�ugc insuruncc premium�o hc puid hy Lcn�kr�u�hc Secr�iury�►r tu�h�mumhly churgc by 1hc �:
<br /> .` Secrc in�teud ot�hc momhly mongagc inxuruncr prcmium; "'"'"''
<br /> ����'. ��,to any taxex,spccinl us�caxmenl�.IeuseholJ puymcntn or�round nmts,und f re.flu�xl wKl uther iwzurd �, ._•�.�,
<br /> �' �� � insurance prcmiumx,uxrcquimd;
<br /> �� " - -n� ' '_ �Q,to interest due undcr the Nwe;
<br /> ' • •' "_ FOURTH,to umonizution of the principul of thc Nutc;
<br /> ° ,. �IFTH,to late chargeg due under�he Notc.
<br />' ' ° � � " �� � 4. Fire,Flood pnd Other Hwznrd InsurAnce. Borrox•er shull fnsurc ull improvement.r on the Property,whe!her nuw
<br /> + ,�,�,,�_ in exixtence or sub�equently erected,ugainst uny huaardz,cusuultiex, and contingencies, including fire, for which Lender _
<br /> � � requires insurance. This insurance shall be mnintained in the umoun�s und for the pedods thut Lender n:quires. Borrower
<br /> ��',�'�"�.�;^. shall also insure ull improvemenls on�he Propeny,whether now in exititence or subsequenUy erected,uga�nst loss by floodx ��`"°"�'
<br /> ta the extent required by Ihe Secretary. All insurance shall be carried wilh comps+nieti upproved by Lender. The insurance __,
<br /> � •� S�`"� '� ', policies and any renewals shail be hefd 6y Lender und shnll include loss puyable clauses in fnvor of, und in a form
<br /> . scceptable to,Lender.
<br /> ' In thc event of loss,Borrower shull give Lender immediate notice by muil. Lender muy make�r..�•f of loss if not ` "�°`—
<br /> .' � made promptly by Borrower. Euch insumnce company caneemed is hereby uuthorixed und directed to make poyment for �:n��,��
<br /> ' , such loss directly to Lendcr,instcad of to eorrower und to Lendcr jointly. All or uny purt of�he insurance proccedy may l�e F _�
<br /> - � applied by Lender,at its option,either(u)to the reductian of the indebtcdness under�he Notc vnd this Secudty Instrumern, �_n`�:t�-
<br /> �•:`` first to any delinquenr amounis npplied in the ordcr in Parugru�h 3. und then ta prcpuymcnt of principul, or(b)to the °
<br /> p 6 p Pe � Y PP P P P po. po �'rs`-�r..
<br /> � ���, . restoration or re air of the dama ed m n . An u licution ot the roceeds to�he nnci al shull nnt extend or +� ne .,.:�.,,,-._
<br /> the due date of the monlhly pnyments whic ure refemed ro in F'urngruph 2,or chnnge the amount of guch payments. Any •�-�:
<br /> • excess insurance procceds over an amount required to pay all outtitanJing m de bte dnesx under Ihe Note and this Security � ��
<br /> ' Instrument shull be paid to the entity Icgally cntidcd thcreto. �"��:'�'
<br /> �..''.'.,,,.:., . �
<br /> .. ln the event aF foreclosurc of thfs Securiry Inxtrumcm or othcr trunxfer of ti�le to thc Property that extinguishes the _�'�'�-_
<br /> : �}�� ` �� indebtedneas,all righ�,�i�le und inlercwt of Borro�ver in und to insurance policies in Porce whall pu.s to the purcht�ser. �"�
<br /> ,'•,� S. Oceuppncy, Preservatlon, Maintenunce and Prolection of the Property: Borrower's L�an Appllcalfon; ,,;,,;__.•
<br /> Leaseholds. Borrower nhull accupy,estnblish,and use the Pmpeny us BoROwer'�pnncipal residence within s�xty d�ys =-=__ __
<br /> • efter the eaecution of this Security Instrument su�J shull continue tu occupy tlx Propeny u.Bonower�principul residence �-;;,;�
<br /> •.;:. • • for ot leust one year ufter the dute of occupancy,unless the Serretary determines thix requirement will cuuxe undue hurdship �i- -
<br /> for Bormwer, or unless extenuuling circumstunce� exixt which ure tx:yond Bixr��wcrs rontrol. Borrower shall notify
<br /> „ Lender�of uny extenuuting circumxtnncez. Borrower shull not rummit wuzte or destn�y,damuge or wuhstuntiully chnnge � '.;`r�•
<br /> t he P r ope ny or u l low t he P r o p e n y�o J c t e n o r u t c,n:a s o n u b l c w r a r u n d t�c+r e x c�p[�d. L c n d c r m a y i n s�:c t t h e P r a p e rt y i f t h e
<br /> ._ . property is vnct►nt ar ahandoned ur the I��un is in default. LrnJcr may take rcusonable uction tu protect anJ preservc such �
<br /> °. vacant or ab;u�doned Propeny. Borrower shall ul�o lx in Jrfuult if Rom�wer, during Ihc loan upplication process,gave t�
<br /> � � materinll� fAlsc or inacrura�c infurmulion ur xrrtemcnts tu LcnJcr lor faileJ to providr l.ender with uny muicri•rl !
<br /> informuuon►in wnnection with Ihe loun rvidenceJ by the Note,inrluding,hut not IimitcJ tu,repmtientution�cunceming
<br /> Borrower�occupuncy of Ihe Pruperty ux a princip.�l resiJrnrc. If thi� Srcuriry In+�nament is on a Ieu�ehiilJ.Borrower shull ' �
<br /> comply with the provisiuns of thc leax. 11'Horrowrr uryuirr,frr ti�k tu Ihr Pru�rty,thr k•rsch�ilJ anJ fec tille�hull nat �
<br /> •• be merged unlesti Lendcr nFr�es tu thc mrrEcr in wrilm�. -
<br /> 6. Charges ro Norrower and Protection nP Lender's Ri�hls{n the Property. Borrnw�r+hall pay ull�ovcmmcnlal
<br /> �„ • or municipal charges,finex and impo,iti�ni.thu�i�rc not included in Paru�raph�. Rurn�wer tih�ll pay the+�uhli�utionti �x� �
<br /> " time directly to the enlily which iti��wed Ihr puyment. If t'ai�urc ki pay wi►uld:idvenrly at'fcrt Lrndrr+ imem.� in thr ;
<br /> . ,. Property,upon Lender'.+rcquc�t gi�nowcr shull prumptly tluni.h ta Lrndcr rcrcipt��•videnrin�Ihcu pavmcnls. '
<br /> .. !f Borrawcr 1'uilti to mukc lhesc puymcnt�or thc paym�nt, rcyuircJ by Pura�:r:iph ?,i�r fnil. lu �xrti�rni nny othcr �
<br /> cuvenants und ugreementti contuir�ed in thi�5ccuri�y In.�nunrnt.or Ihere i.a Irgul pnxc�diuE thnt ma significmuly aff«t
<br /> _.•.. �... .�.. ..,
<br /> -._ ... . ......_ _ . ......
<br /> Lendcr+righls m tnc 1'ropeny lsuc�as a pnxceding in nanwiupicy iin��iiiuciiivaiiii�u vT i:�a.�u..�.:. �u...,... h••••••�•••••••
<br /> then Lendcr may do und puy whuMvcr i�necc.yury lu prutect�hr v;duc��f thc F'roperly und Lrndcr's ri�ht+in �hc F'm�x:r�y.
<br /> � including puyrr�nt of�uxc.,h�iurJ insurancc unJ a�hcr itcros mrntiuneJ in 1'urvgraph�.
<br /> Any umounts Jitibuned by Lendcr unJrr this Puru�;ruph�hull Ikcumc an i�dJitionul deM ol'Borrowrr unJ txr urured
<br /> • � by this 5ccurity Instrumcnt. Thexe umounts.hall ixur mtercxt I'rom �hr Jtnr ot'Jishur�ement,ut thr Nutr rute.und ut Ih�:
<br /> � option of Lender,tihall he immediatcly duc und puyuMc. �
<br /> 7. Condemnation. The pr�xceds iif uny uwurd or cluim for dam�ge.,Jireci ur rim�cyurnlial,in runncction w•ilh uny ,
<br /> � condemnution or athcr�uking of uny part uf tlx Prnperty,ur for rum•cy:�nce in placr nl'cuuJ�nma�ian,ure herchy ati,i�;ned
<br /> and shull be pnid ro Lender to�he rxtrnt of the full umoum uf thc inJrhtednr�.that nm•rin+unpaid undrr the N�itc und thi,
<br /> . Securiry Instrumenl. Lender shall upply wch prcxceds����he rcdurlKm of'thc indchtcJnc.�undcr Ihc Nutc und Ihis Sccurily
<br /> Instrument, first to uny Jrlinyuent amounts applieJ in thr onlcr provided in Ps�ragraph �, unJ Ihcn to prepaynunt of'
<br /> ° principul. Any upplicution of thc pro�ccds to thc prinripul �hull ni�t cxlcnJ �x pn�punc thc duc Jatc ��f thr monthly
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