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<br /> - --_=��""�-�"� 1. P�yakot of Priacipal.inttnn!nnd Lwte Clw�e. Bormwcr ahall pny when duc ihe pdncipal of.wid intercst on.
<br /> �he debt evldencod by the NWe w�d Ipte chargcs duo under Ihe Note.
<br /> ---�,,-�.r„� 2. MonIWY WY�1�nd I interc�tlawraafce h„io th�e Nou anciany�tate charge,�nn�in tullmenicotmany(�a)Pwue��nd
<br /> `� tir�'� togethrr with the princip�
<br /> `��• '��'�' spocial assesaments levicd or tu be levled against the Property.lb)leasehald paytr�ent�a ground rcnts on the Propeny.wid
<br /> - (c)promiums for in�ut+�nce rWuircd by Pa��raph 4.
<br /> — ��}.�+i..vo'►h:� �,�
<br /> _�`��,,;,,,,e,� Fach maNhly irwtallment for items (e), (b)and(c) shall equpl onc•twelfth of d�e annual wnounta,as re y
<br /> -�--�;;� eatlmated by Lendcr, plus nn amount bufficient to m�lnwin an additianul balance of not more than one-sixth of the
<br /> 4 s;, er,tim�ted�unounts, The full annual iunount for each item ahall be accumulated by l.ender within a period endiog one
<br /> �. month before on itrm would become dclinquent. l.ender rhull hotd�he amoun�g collected in wst to puy items(a).(b)ancf
<br /> �.��_�±�" (c)before they becamo deHnquent.
<br /> __=�;�,c'A'e�;u��� If ut any limc the�ot�l of the paymcnts held by Lender for items (u), (b)ond(c),together with the future monthly
<br /> '�'!"�'�"�'�'�1� rr►ents for such itema yable to Lender priar to the due dutes of such items, exceeds by more thnn ono-sixih the
<br /> �---��'��=-'���_:�' e�atimated omount of puymenta requircd to pay such items when due.and if paymen�an the Note ar�e current,then Lender _.
<br /> -�;���.;�,si rt�;�' , shall efther refunif the exces.s over one-sixth of the e�tim��ed paymen�s or credi�the excess over one-sixth of the estimoted
<br /> �-���� � . .��• ` payments to subsequent payment�by Bomower.at the option of Borrower. If Ihe tatul of the puyments mude by Borrower
<br /> A1Ye::._'`�:..,...._ ,
<br /> `_�r�++�*r�•• . � for item(a),(b),or(c)is inaufficient to pay�he item when due.then Borrower shall pay to Lender uny s�mount necesswy to _
<br /> �-�'^���*"�= �� make up d�c deficjency on or before thc dote the i�em becomes due. —
<br /> ,......:. �
<br /> 1:.�i;�.;,�.r:�;� . . As u�ed in this Security Insttument,'Secretury"means�he Secretsry of Hausing�►d Urban Uevelopment ot his or her
<br /> -� r�.;:...•., �;. ,,..�. designee. In any year in which the Lender muxt pay c►moAgage insuranee premium to the Secrewry,ench monthly payment _
<br /> °��a��4_�.- shall also include either. (i) an installment of 1he annual mortguge insurunce premium to be paid by Lender to Ihe
<br /> ti �`"• Secretary.ar(ii) a monlhly charge instead of A mongage insurance premium if thia Security Instrument is held by the
<br /> --�•- ''��' - Secretary. F.uch mon�hly instaliment of the mon ege insurance premium ahull be in an omount sufficient ta uccumulale the `_ _
<br /> ,�,.,•- -
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<br /> f:�,�t,;,,+{,�;,y,,,. ' full onnut►1 mortgage inaurnnce premium with nder one month prior to the date �he full annual monguge insurance ___
<br />"=��`,t,��_Y::�� _ premium is due to the SecRtary:or if this Security[nstniment is held b�r the Secretary,each monthly charge shcll be in en =_
<br /> amount equal to one-twelfth of ane-half percent oi the outstunding princ�pnl lwlance due on the Note.
<br /> �- J " ' If Borrower tenders to Lender the full payment of all sums secured by this Security Inslrument, Borrower'�uccaunt �
<br /> � �_� " ahall be credited with the balance remaining for all installments fur items (a). (b) and lc) and any moRgage insurance __
<br /> =��� � premium installment that Lender has not beco`o f����o ure ulc of the Prope�r i4 ncqu sit on by rLende'r Botruwe s �``"`
<br /> � �'' . � eacess funda to Borrower. Immediately p
<br /> :3��..,: � • - ��;, -_
<br /> __—"__�;�, ,�,. , aecount aha116e credited wlth uny b�inncc rcmaining far ell instnllmen44 for items(a),(b1 s�nd(c). �
<br /> _° 3. Ap�Ikallon of Payments. All puymenta under Puragraphs I and 2 shall be upplied by Lender�follows: � ...,
<br /> - � ,,�,�.�,',�:; . � F�g�Z,to the mortgage insurunce prem�um to be paid by Lender to the Secrctary or to the monthly chiuge by the =
<br />;;
<br /> —�, .. . , Secre insteud of the monthly mortgage insurance prernium:
<br /> •'�� �,to uny twees.special nssessments,leusehold puymenls or ground rentx.and fire,flood+md other hazard
<br />___s, .
<br />,_- _- --__-W.•+�-._�.:.-_:-� insurance premiuma,as required;
<br /> : -- --- ,.--
<br /> - '. �,to intcrest due under the Note;
<br /> ' EouarH,to nmonizution of the pdncipnl of�he Note;
<br /> °``''�"' to late chur er due under the Notc.
<br /> ����+�r�'�° �ftl. 8 •
<br />`''�= 4. Fire,Rlood und Other Haza�d Insurance. Borrower rhall in�ure r+ll improvements on the Propeny,whethcr now
<br />='��r,�i' in eaistence or aubsequenUy crected,ugAinst uny hazards,cu.4uaUies,and contingencie�, including fire, for which Lender
<br /> ''''• � � requires insurance. This insurance shnll be mAimamed in�he umuums s�n�i fbr the periods that Lender requires. Borcower -
<br />-J�� shall ulso inxurc ull improvemenis on the Property,whethcr now in cxistence or tiubsequernly crected,against losx 6y floads
<br />-.�'-`���• � ,.. , to the extent required by the Secretary. All insurnnce shull be carricd with compnnies upproved by Lender. The insurance
<br />�"�''� � policics und ony renewuls shull be held by Lender und chall include los� puynble clauses in tuvor of, and in u fortn
<br />-�J acceptable to,Lender. --
<br /> In the event oP loss,Bortower shull give Lender immediutc notice by mail. Lender muy make prcx�f uf loss if not _�m.
<br /> ` .i�':�� made prompNy by Borrower. Euch insurunce company concemed is hereby uuthorized und directed�o make puyment for �_:
<br /> �'�I ' such loss directly to Lender,instead of to Borrower ru�d to Lender jointly. All or uny part af 1he insurance proceeds may be
<br />'��''� � epplied by Lender,at its optian,cither(a)to the reductian of the indebtcdness undcr the Note und this Security Instrument.
<br /> firsl to nny delinquent urnounts Applied in the order in Purugru�h 3, und then �o prepuyment of principul, or(b)to the _
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<br />: " � ' •� restoratian or rep�ir oF the dumaged property. Any Applicutfon ot�he pr�xeeds ro�he principul.hull not extend or postpone __
<br /> - ' '' the due date of the monthly p�ymenls which nre rcfcrred to in Pnrugmph 2,or chun�e the umount�►f such payments. Any _
<br /> r•"' ��"`�. • ezcess insurance proceeds over un am�wnt reyuired to puy all out�tundmg indebtedness under the Note und thir Security - •�-
<br /> =:,;.' • • Inatrument shall be pnid to the entity Iegally enulled Ihercco. �.
<br />;_�:':- ,. In the event of forcclosure of thix Security In�lrument or other trunxfer��i'tille�u thc Property that extinguiaher�he _
<br /> �.�. .+ " indebtedness,all right,dUe und interest of Borrower in und to insurumc palicies in force�hull puss to�he purchaser.
<br />- f� ' S. Occupancy, Preservapon, Maintenunce end Protection nP the Property: Borrower s Loan Applia►tlon; �-_-•
<br /> ;,,,;,� __
<br /> _:'. ° �' Leaseholds. Borrowcr shall cecupy,estuhlish,und uxr thc Propeny us Borrowcr's pnnripal rcxidencc within s�xty duys �^
<br /> :°=•.'�� ,..:;•� ufter the execution of thix Security Instrument und�hull continue ro ikrupy�Ix:Pro�ny as Borrower's principal residence
<br /> ':,::: • for at IPUSt one ycar aftrr thc da�e oPoccup•rncy,unlcss the 5ecrewry Jrtcrn�ines thi�rcyu�rement will cuuse unduc hardship
<br /> �_
<br /> • for Borrower, or unless extenuuting circurristunces rxist which ure l�eyond Bnrtuwer� cuntrol. Barrower shall nolify ;,;;;-:
<br /> . ,:,i. ,� Lenders of any extenuating circumstunces. Borrower xhull not cummit wuste��r de.uoy,dwnuge or sub+tuntiully chunge •3�
<br /> � ' '�,. � • the Property or ullow the Propeny to dcteriorutr,rcuwnuble wrur uixi tcur exceptcJ. Lcnikr may mspect the Nropeny if the
<br /> ,;����. � PropeRy is vacAnt ur abundoned or the loan iti in defuult. Lendcr muy �:ike rcusonuhle actiun to protect unJ preserve tiuch
<br /> ',"',:: vucunt or abandoncd Prop�:hy. Borrower shull ulso Ik in drt'uult if Hormwcr.Juring thr I��un +�pplirution pnxesti, guvc
<br /> � � mutcrinlly false or inuc:curute infonnution or statementz to l.cndcr I��r 1'uil�d to pruvidc l.endcr �vi�h smy matcnul
<br /> '� ' � information)in comx:etion with the loan rvidenced by tlx N�Hc. including,but not limi�ed to.rcprc�entutionti cotxeming �
<br /> • Borrowerk occupnncy of 1he Property a�a principid retiiJrne�. If thiti Srcuruy In.lrument i��m i�Iea�ehnld.Burrower xhall
<br /> � comply with thc prov�x�om of thr leu�c. If eorrowrr uryuirc�I'rr�idr i���h�I'ru�x ny,thr Icasrhold unJ fcc tidr�hull nrn 4
<br /> . be merged unlcsti Lender agrec+tu thc mcrFrr in writing. E
<br /> . 6. Charses to Borrnwer and Protection of l.cnder s Rl�hts in the Property. fi��rcuwrr.hull pay ull govrrnmentul k
<br /> •• ,s,� or municipul rhurges,fines und impotiitiom thut are ni�t includeJ in{'ur:�gruph 2. Nortower�hall p:ry Ihr.e uhli�.utiom on i
<br /> time dirccQy to thc entiry which is owed thr puymrnl. If 1'uilurc a� pay wuu1J.iJvcr.ely uffrct LrnJ�r� intcrexl in thc �
<br /> Property,upon 1_cndcr's rcquc+l Borrowcr+hull prumptly 1'umi,h tu Lendrr rccript.rvid�nrin��hcsc paytncntti.
<br /> .:`� � . If Borrowcr fail, to muke thetie puymrr�i+ur thc paymrnt+ myoired Ny 1'uragraph ?.or fuil� t�� �xrtiinn uny o�hrr
<br /> covenunts und aiRrcements cun�aincd in thi,Securi�y In,�runicnt,ur Ih�rr ir a I��:al�rix�edin�.lhut muv+i�;niticun�ly uffect �
<br /> �_.. ..�... ..,
<br />--_- -- Lender�rights in UK Property lsuch as u pnxeed�nE m ban�n�p�c}•. ii,r cunuc�n�w������ .�� a,:;���::�.� �..,;:a:.r......E:::.... .
<br /> \ , . then Lender muy do und puy whatrvrr i.ucce.sary w prutcrt�hr v;duc u(th�F'�o�xny:ind LrnJer'.riFht.in thr Pro�xrt�•. ,
<br /> including puyment oi'taxes,hsvurd in.uruncr unJ othrr itrm�mrnli��icJ in Parugraph 2.
<br /> Any umounts dixbuneJ by l.endrr under thi.1'uragraph�hi�ll Ixc�mu nn udditian++l dcM uf Horto��rr;mJ Ix+rrurcd
<br /> . " by this 5erurity Instrumem. Thesc umounts xhu�:t►�ar imcrext from 1hr dalc ut'disbur`rmrnt.ut the Natr rutc. und at Ihe
<br /> , option ol'Lender,shull be immcdiulely Jue und puyublr.
<br /> � 7. Condemnqtion. T'hc pr�eeJ.uf uny awurJ ur claitn li�r Jam;iges.Jin�r1 ur�on,ryucnlial.in runnrctiun with any
<br /> condemnation or uther tukin�e ut c+ny part uf the PrnExny.ur fur ranv��anrr in plarr�d'c�mdenmatiun.un hrrebq ati.ignrd
<br /> unJ shall be puid to Lcndcr lo Ihe extent��F thc full amnun�i�f�hr indc�trJnr,�thal no�uin.unp.ud unJrr Ihc Nutr anJ Ihiti
<br /> Security Instrument. Lrnder+huU apply wch pnxerJ�iu thc rcduruun of thr inJrhtrJne.�undrr thr Nut�and ihi.tirrm it} i
<br /> � Instrument, fint to any d�linyuent amuunt. upplied in thr urd�r pruvidcd in Paru�:ruph s. :o►J thrn ta prepaymem ul
<br /> prinCipul. Any applicutiun uf thc pttk�eds to thc prinrips�l shull nu! rxtcnd ar �x+.t�xmc Ihr dur Jutr ut�th� munlhly
<br /> ��tircr:,�N��.ier�
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