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<br />_ — --'-- 1. Pnymeut o!Priadpal,Inkreat wad Lpte Clwr�e. Bmrower shull pwy when duo Ihe princtpol oi.qnd intercat on.
<br /> — the debt avidenced by thc Nato and tate charger duc undcr tho Notc. '• .
<br /> =---- - Z. Moathly paymeMs ot'ILues,lnwrance a�d Olhe�Cb�a. Borrower rhall includo in ench munthly pAyment, .
<br /> - togqher with the pnncipol and interect as sGt forth in ttie Note end any lata chprQes.�n in�tdlment af�ny(p)tuees and
<br /> special agsessments levfed or to be levied againat�he P�nperty.(b)le�wehold paymcnta a�round rantn on Ihe Pr�npeKy,�nd
<br /> -'� (c)premiwns for insuranca roquir+ed by Pangraph 4.
<br /> ':,��� Each ma�thly i�wtallinent for items (�). (b) and (c) shwll eqiwl one•twelPth of Iho nnnurl omaunt�. � rciuonably
<br /> estimatcd by Lcnder.plus s�n arnount sufticlent to mainwin an addit�onul bnlance oP nM mrne thsn one•aixth of the -
<br /> esdmated amounts. 71�e fuU annuel amount for e�ch item sh�ll be accumulated by Lendcr wilhin A perfad ending one
<br /> �' month befora an item would becoma delinqucnt. L.ender�hall hold the wnounls colkckd in tnut lo pny items(a).(b1+u�d
<br /> -- -- (c)befare they become delinquent.
<br /> ���,.'� If at any tlme the taal of the payme�ts held by Lender for items(a). (b)and(c).together with tha futuro motuhly
<br /> payments for such ftems payable to Lender pdor w the duc datex of such itema, excecda by more th�n one-sixth the
<br /> —��•.'�..�_; estimated amaunt of payments�quired to psy such items when due.and if pp ments on the Note are curtent,then Lcnder
<br /> `s°�',.:.:�f`+ - shaU elther refund the excxss over one•sixth of the eatimated pny ments or c�t thc excesa over one-sixlh of Ihe caUmated
<br /> :;��;•1� ; payments to subsequent peyments by Bocrower.at the option of Bortower. lf the totul of'thc paymentr mada by Hotrower
<br /> ' � ---a..�_ fc�r item(a),(b).or(c)is insufficient to pay the item when duo,then 8orrower chall pay la Lender+u�y arnount nexea�ary to
<br /> �„� make up the deficiency on or beforo the dute the item becomes due.
<br /> As uced in ihis Security InstNmen�"5ecretary"meens the Secretary of Housing and Urban Development or hia or her
<br /> , ----- designee. In any year in which the Lender mustpr�y a martgage insurance premium to the Secrc�ary.each monthly payment
<br /> �_Y;�,�{f,�!� shell also lnclude elthcr. (i)an Installment of the annual mortgage inaurance prcmium to be pald by Lcnder to�he
<br /> *3 t Secretery.or(ii)a monthly charge insteed of a mortgage insurance premium if Ihis Secu�ity Instrumont ir hold by Ihe
<br /> - -- Secmtary. Each monthly installment af the martgage inwrance premlum shall be in un amount xufficient to accumulate 1he
<br />_ �,�`��.`;; ful!nnnual mortgage insurana premium with Lender one momh prlor to the dete �he iull annual mortga c insurence
<br /> -�,:_.:, �..�,' ary,aach monthl
<br /> --� •-.�; ;;r„•...•.r•.�,�'• premium is due to the Secretary; or if this Secudty lasuument is held by the Secr�et y chorge all be in An
<br /> �'�Yr��• • ''''" amount equal to one-tweltih of one•half percent o f�h e outstan d ing princ ip a l b a lance due on t he No te.
<br /> �n,s:.,� .. .?�,,: ' lf Borrnwer tenders to l.ender the full payment of all sums secured by thia Security Inatrument.Borrawer's account
<br /> �� shall be credited with the balence remaining for all inatallments far items (n), (b) ond (c) und any mortgage insurance
<br /> ��� ''' premium installment lhat Lender has not become obligated to puy to the Secretary,ond L.ender eh�ll prompUy roPund en�r
<br /> ' ,��� .
<br /> ,r�a�,• �r excess funds w Bonower. immedistely prior to a faeclosure sale of�he PropcAy or ila ucquisition by Lender.Borrower s
<br /> ;�� �'; �•' "� ' `�, account shall be crcdited with any balence remaining for all inswllmen�for items(o),(b)cmd(c).
<br /> ��'°'�����t.•��.=-�.�� 3. A Uratlon of Wymepta All payments under Paragraphs i and 2 shull be upplied by Lender us follows:
<br />_,r,;��<<u:.:;�.. �,•..
<br /> _,�...H=;R.;_ ,.�;;,•,rl to the mortgege insurance prem�um to 6e paid by Lender to the Secrctury or to ihe monthly ciwr�e by the
<br /> ,sr� ' ''��•�,;�� � Secne instead af the monthly mortgege insura�ce premium;
<br /> +�:�«�. ' ',!. « ta .w any taxes.speciel assessmenta.leasehold paymenta or�round rents.ond flre.flood wui aher ha�ard
<br /> ►�,I�IY�e7�',�k;;d��_ insurance premiums,as required;
<br /> r�=.r.;,.'-�. �:•°.�� �jj$p,to interest due underthe Note;
<br /> �*'� ' " •• EQ�,to amorti�atian of the principal of the Note;
<br /> �.: � : '� ,.
<br /> -- . .� 8�,to late chsrges duc under the Note.
<br /> •,s;v�� 4. Fire,Flood nnd Other Hazprd lnaurance. Borrower shell insure nll improvemems on the Property,whether nuw
<br /> ,. .."•'� ' ';:;.ti ' in eaistence or subsequently erected.against any hazards. cosuul�ies,nnd contingencies, inc lu d ing�re,for w h ic h[.en der
<br /> _�. . rcyuines insurance. This in�urance shall be maintained in the amounts und for the periads that l,ender requircx. Borrower
<br /> - .=i� " ' �, shall also insure all improvements on the Property. whether now in exiatence or xubseyuently erected.ugainst loss by tloods
<br /> � rt to the extent required by the Secretary. All insurance shell be csmed with compnnies approved by Lender. The insurnnce
<br /> �`''� �" policies and any renawals shall be held by Lender and shnll include loss paynble clauses in Pnvor of, and in u form
<br />-; �"�"�'''�` �� � acceptable to,Lender.
<br />.:! ""."' '• In the event of loss,Barrower shall give Lender immediate notice by mail. Lender may make proaf of losx if not
<br /> � � -^ , • made promptly by Barrower. Each insurance company concemed is hereby authorized and directed to make paymenl for
<br /> t� such loss directly to l.ender. instead of to Borrower and to Lender jointly. Ali or any pnrt of the insurnnce praceeds may be
<br /> ;-� ,�'�t�: ,;, applied by Lender.at its aption,ei�her(n)to the reduction of the indebtedness under the Note und this Secunty Instrument,
<br /> � M first to a�y delin�uent amountx upplied in the order in Pumgraph 3,und then to prepayment of pr�ncipal,or (b) to ihe
<br /> �:� ��,. resroration or repair of the 3ama�ed property. Any applicntion of the praceeds to the principul shall not extend or poslpone
<br /> �>�,' � : � the due date of the monthly payrnenes wh�ch Are referred to in Psuagruph 2,or chnnge the umount of such payments. Any
<br /> � �;y;• ��.,- eacess insurance praceeds over an amount required to pay all oulstanding indebtedness under�he Note and thia Secu�ity
<br /> -- e,r�,�t.+,, .':��M ' Inspument shall be paid to the entity legally entiiled ihereto.
<br />-�':rn;,�,;�,. ., In th►:evem of foreclosure of this Securiry I nstrument or rnher�ransfer of title to the Property thut ea�inguishes the
<br /> ' indebudness,all right,tide wnd interest of Borrower in und�o imurunce policics in forcc shnll pass to the purchuser.
<br /> � x��.� �• 3. Occupancy, Preservation, Meintenance and Protection oP the Property; Borrower's Lonn AppltcsiUon:
<br /> .6:�.,•
<br /> __t f. Leaseholds. Borrower shall accupy,establish,and use 1he Property ns Borcower's principal residence within sixty duyx
<br /> ,� ,u.� • after the exeeution of this Security Instrument pnd shall continue to occupy the Property us Borrowe�i�principvl re,��k:ncr
<br /> � } for at lenst one year after�he dute of occuparn:y,unless the Secre�ury determineti this n�yuirement will cuuse undue hurJxhip
<br />:P� �`��:. .
<br />`_-�"�,;�„, • for Borrower. or unless extenuating circurtiwtances exist which ure beyond Borcower's contml. Bnrrower shull notit'y
<br />,_-- ,..� Lenders of any extenuating circumswnces. Borrower shull not axnmit wuste or destroy,dumuge or substsmtiully rhungr
<br /> � ,�. . • , the Propeny or allow the Propeity to deteriorate,reusonable weur and te:u cxcepted. Lendcr muy mtipect Ihc Prn�xny if thc
<br /> . •.,,�! Property is vacant or abnndoned or thc Ioan is in defuuU. Lender muy tuke rca.onublc uction�o protect und preservr,uch
<br /> ° vncnnt or nbandoned Property. Borrower xholl ul so be in det'uult if BoROwer,during the I�un application prcxetis,guvc
<br /> ' ,� materially fnlse or innccurate information or s�atements �o Lender (or fuileJ to proviJc Lender with any mu�eriul
<br /> � �, „ information)in connection with the losui evidenced by Ihc Note,including. but not limited tn,represenwtions conceminu
<br /> . ° � •� Borcower's occupancy of�he Propeny us A Principul residence. If Ihi�Securi�y Intitrument is on u Iru.ch��IJ. Burruwrr�hull
<br /> - ,t comply with the provis�ons of thc Icusc. If Borrowcr ucyuirc�fec tillc to the F'ro�xny,thc IcuschalJ und fec litic+hull nut
<br /> - . be merged unless L.ender a�rees to the mcrgcr in w riiing.
<br /> � ',° • 6. Chargex to Borrowe�and Protectlon oP l,ender's Ri�hts in the Property. Borrower shull pay ull guvemmcmid
<br /> ° ur municipal charges,fines and impasitions that ure not included in Puragruph 2. Borrower shall puy these uMligatiun+�ro
<br /> . • �,. time directly to the entity which is oweJ�hr puymen�. If fnilure tu pay wnuld udvencly uffcc� l.rndcr: intcrc+� in�h►
<br /> � �y,. " ,. Property,upon Lender�reyuest Borrower shull prompQy fumish to Lender rrceipts evidenring thcse payment..
<br /> • If Borrower fails to moke Ihese payments or ihe paymcnts rrquired by Purugriiph 2, or fuil, to perfomn any o�hrr
<br /> t_ �&,,,�, ..�,.___,_. _ covenants und agreements contained in this Securi ty In,�rument,ar there is u Iegul pnxeeJing thai mu�+itimGcundy ullrc� �
<br /> . - ` - - - Lender's rights in the t'�vperty(sucn as u preiceea inF in nanicnip�cy,ior condemnuuon or�o enione IUK'\Uf IL•�CIII:IIIUII�L
<br /> � , _ dien Lender may do and pay wha�ever is neces�ry�o protect thc vulue of�he Propert�und I.rnder� ri�;hl�in lhr Pru�kiiy.
<br /> ° ` including puyment of laxes, huzard insurancr und��thcr ilems mcntioned in Purugraph_.
<br /> • Any amounts disbursed by Lendcr undcr thiti Pura�rt�ph shall become un additionul dchl ul'Hum��arr �md Ix.ecur.•d
<br /> i . „ �w by this Security Instrument. Thetie umounts shul) beur mterest from the dute uf disbunrmem,irt the N�qr rulr.und ul thr
<br /> ,. npti�n of Lender,yhull lx irnme�liutely due unJ puyuble.
<br /> 7. Condemnatlon. The praceeds of any uwa►rd or cluim i'or dumngcs,din:ct or consryurntiid,�n�unnrrnun auh anp
<br /> � � wndemnntion or other tAking of uny purt of the Property,or for conveyunce in plurc i�t'ri►nJemn.rtiun.��r�hemhy;i.,itin�•J
<br /> unJ xholl be paid to Lendcr to thc extent of Ihe ful l amount of the indebtednrxs thut remuin+unpaid undrr�he N��Ic und du,
<br /> , ticcurity Inxtrum:nt. Lender shull apply such pnx:ceds ia the reduction ot'thr indchteJnr,r und�r�hr Nulr;md Ih�+ti.�runt�
<br /> • Instrumcnt. first to uny delinquent umounts applied in the urder pri�viJcd in Paru�ruph .1, :mJ tl�rn tu pr.r:nn�rnt ��t
<br /> � prfnrip�l. Any applicution of the proceeds ro the principul shull not extend ur postpurn the duc dute ul tllr nwnthly
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