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<br /> ... _�s-�._. _.__._._�__� t. vw s�e or Pri�cip.�,l�tawt.od t.a►e cM�eg. eormwer�b.0 p�r wna►aue�ne p�inctpd oP..na mtarat on.
<br /> the deM ev�ienced by tlre Noto rnd lrto charge�due undet the Note.
<br /> 2. ManthiY WY�b af 7kxa,Inwrauce Fnd Otber C4t�r��. Bormwer sh�ll Includo in e�ch manthly payment,
<br /> _ _ together with Ihe princip�l and intore:t �r xt faih in tho Note aM any late ctwrQes,pn t�swllment o!any(s)wca and
<br /> -:.��. spxid aueaurKnta kvled or to be levle�a�ainst the Property.(b)k+sehoid WYmenp or�ound reN+an 1t�o Property��nd
<br /> (c)prnniums for inrurance rcquined by Paragr�ph 4. _
<br /> �:~, Each mon�hly in�uliment for ltems (a). (b) ond(c) shall eque! one-twelfth of the�nual amounts.w+ �ro�wbly
<br /> estlmatod by l.ender. plus en wmount sufficient to maintain an wldidonr�l baluice of not more th�n aae-�iZ1h oP Ihe
<br /> - , ,. es�timated iunounts. The full nnnuol unount for euch item sh�ll be accumulated by Lender witidn a periad eMin�one
<br /> ' manth bePore�n item would become delioquent. Lender�hwll hoW ihe omounts collocted in m�st w pay icem�(a1,(b)�nd
<br /> :�,,.�„�,.�,-:1�;,,., (c)bofae thoy becotne delinqucnt.
<br /> _ `��', � If at any dmc the total of the psyments held by Lender for items(A).(b)and(c),togethcr with Ihe future monthly
<br /> , _, . ^ _�_ payments for such items payablo to Lender prior to�he due detca oi such items.ezcads by moro thpn one-sixth tho
<br /> --- �;,,;�;:�,, estia�ated amount of paymenta required topay such items when due,und lf payments an thc Notc arc cument.tha►l.ender
<br /> _-°—°-�°���;�, shall either rcfund the excess over one-siath of the estimated psyments or crcdit the excesa over one-six�h of tiw estirtwted
<br /> •.��.�;�,N, �� . payments to subsequent paymentx by Borrower,at Ihe option of Bom�wer. If the total of the paymenta made by Bortower
<br /> �—_ for item(a).(b).or(c)is insufficient to pay the item when due,then Borrower shall pay to Lende�any amount neces�ry to
<br /> �_ _ _ _ —_:_� make up the deficiency on or before�he dute the item becomes due.
<br /> ^ ^� As used in thls Secudty Insuument,"Secretary"means Iha SecrctarY of Houaing and Urbun Develo ment or his or her
<br /> -""'�°"� •--�- - - deslg�. In any year in whlch the Lender must pay a moRgage insurance premium to the Secrcuuy,esc�manthly payment
<br /> ���"��"'� shdl nlso include either: (i) an Insiallment of the annual mongAge insurance prcmium to be paid by Lender ta the
<br /> `".,'".:�y.
<br /> _� _�:l •; "n�.�. Secrctary,or(ii)e monthly charge instead of a mortgage inaurance premium if this Securiry [nswment is held by tlte
<br /> .�. ,�f '� L � Secrctary. F.ach monthiy installment of the mortgage insurnncc premium shall be in an amount suf"ficient to accumulate the
<br /> �.._. �� full annual mortgage insurance premium with Lender one mon�h prior to the date the full annual mortgege insurance
<br /> _ a;.._..• .�. ._ . premium is due to the Secretary;or if this Secu�ity Inswment is hefd by the Secretary,euch nwnlhly charge shall be in an
<br /> �y' •• " amount ual to one-twelflh of one-half percent of the outstanding principal balance due on the Note.
<br /> �;....�._.. al
<br /> - .';�,�L If Borrower tenders to Lender thc full payment of ull sums secured by this Security Inswment.Borrower`s account
<br /> .."�:; shall be credited with the balance remuining for all instcillments for items(a),(b)and (c) and eny mortgage insurance
<br />�1 ,. . ,, t` premium installment that Lcndcr has not become obligated t�pay to the Secretcuy,and L.ender shall promptly rcfund ony
<br /> exceas funds to Borrower. Immediately prior to a fotcclosure wtle of the Property or its acquisition by Lender.Borrower�a
<br /> - � � � " , acxount shall be credi�ed with uny balunce remaining for all installments for items(a).(b)und(c).
<br /> - � ' ° 3. A pcalloa of Poyments. All payments undcr Pamgraphs I and 2 sha116e Applied by Lender as followa:
<br />-':� � . . �to the murtgage insurance premium to be paid by Lender to the Secretary or to the monlhly charge by the
<br /> - _ � �-._ Secre instead of Ihe monthly mortgage inaurance pmmium;
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<br /> _ _ -.._�:-•=—_----__; ° � ,io any iaxea,specia!ss::esssnenss.leas=hold payments o���wnd renta,and fine,tlaod and other i�rard
<br />: ` , . insurance premiums,asreq uir+ed;
<br /> , • . � �j${2.to interest due under the Notc;
<br /> FOURTH,to amortization of the principul of the Note;
<br /> F,- , �,W late churges due under the Note.
<br /> �;�, ` . 4. Fire,Flood and Other H�ard InsurAnce. Borrower sbull insure all lmprovements on the PropeRy,whether now
<br /> .,.�� in existence or subsequently erected,ngninst uny har.ards,cusualties, and contingencies,including fire,for which l.ender
<br /> ''�"`' �� � � r+equires insurance. This insurance shall be maintamed in the amounts and for the periads that Lender reyuines. Borrower
<br /> ''1"'r•-`•°.~._,� d: shall ulso insure uli improvements on Ihe Propeny,whether now in extstence or subsequently erected,against loss by floods
<br /> ���� � .•�.; , to the extent required by the Secretnry. All insuronce shull be csuried with companies approved by Lender. The insurance
<br /> ' fl� ` .. policies and any renewals shull be held by Lender and shall include loss pAyable clauses in favor of. und in e form
<br /> ... a�;, • - acceptable to,Lender.
<br /> �;!* � In the event of loas,BoROwer shull give Lender immediute notice by muil. Lendcr may make proof of loss if not
<br /> "�..«•a:, made promptly by Borrower. Ench insuronce company concemed is hereby authorixed and directed to make payment for
<br /> �� , • • auch loss dinectly to Lender,in4tead oP to Bortower und tu Lender jointly. All or any purt of the insurance proceeds may be
<br /> • �•. applied by Lender.ut its option,either(n)to the rcduction of the indebtedness under the Note und this Security lnswment,
<br /> ' ' first to any delinyuent umounts applied in the order in Paragrnph 3, and then to prepayment of principal,or (b)to the
<br /> r';'• �..,� " .� restoration or repair of the damaged property. Any Application ot the proceeds to the pnncipul shall not extend or postpone
<br /> . : ;� the due date of thc monthly payments which ure refermd to in Pur�gruph 2,or chunge the umount of such payments. Any
<br /> excess insurance proceeds over un umount required to puy ull outswnding indebtedness under the Note and this Secw3ty
<br /> •�`"•"` � o lnstrument shall be poid to the entit�lesully entuled thcreto,
<br /> � " In the event of foreclosure ot this Security Ins�rument or o[her trun�fer of title to the Propeny that eatinguisl►es the
<br /> ,4.: : .� ��._ , indebtedness,all right,tide und interest of Borrawer in und to intiurunce policies in force shall pass to the purcht�ser.
<br /> . ��;� , S. Occupancy, Preservation, Maintenance und Protectinn oP the Property; Borrower's l.oan Applicatiop;
<br /> � I.easeholds. Borrower shall occupy, establish,und use the Propeny us Borrower ti principnl residence within sixty duys
<br /> � >,,. .sa•�^�' . ° after the exeeulion of this Security lnstrument und shall continue to occupy the Propeny us Borrower's principal residenee
<br /> • for at lesst one year ufter the date of accupancy,unless the Secretury determines this rcywrcment will cuuse undue hardship
<br /> ��� for Bormwer, or unless extenuating circurris�unce+ exist which urc 6e�•ond Borniwerk control. Bomower shell notify
<br /> ° ' Lcnders of any extenuating circums�ances. Borrowcr sh:�ll not commit wutitc or dc,troy,dumuge or substantinlly change
<br /> • the Property or nllow the Property to detcriorutc,reosonuble wear und teur exceplcJ. Lcnder may mspect thc PropeRy if the
<br /> - „��'�•�° Propeny is vucunt or abandoned or the loun is in defAUU. Lendrr muy�ukc reusonublc uction to pmtect and preserve such
<br /> . vacnnl or abondoned Property. Bortowcr tihull ulso hc in defuul� if Borruwer,during �he loan applicution process,gave
<br />� � ��. muteriully f�lsc or int►ccurute infortnution or ,lutement, tu Lendrr (or failed to providc Lender with uny material
<br /> infortnation)in connection with the loun rvidenced hy the Not�.incluJing,but no� limited to,representutions conceming
<br /> ' •z, " Borrower's occupuncy of the Proporty:►.,a prinripal rexidrnrc. If this Srrurity Inswmrm is un a Icaschold,Borruwer shall
<br /> a'' comply with the prov�s�ons of thc lea�c. If Borcower ucyuirr�fcr iitk w lh�Prupeny,thr Icaxehold und fee title shall not
<br /> • bc mergcd unless Lender agrecs to thc mrr�rr in writing.
<br /> � 6. Charges to Borrnwer nnd Protection of l.ender's ItiRhtx In the f'rnperty. Barr�iwcr�hnll pay all govemmental
<br /> i or municipal churges,tincx anJ impotiition,thu� sur nat inrluded in Parugruph 2. B�ttmwrr�hall pay�hese obliRution,on
<br /> , i time direcQy to the entiry whirh is�►wed the puymcut. lf t:iiluR to pay wuulJ udvenely affcct Lrnderz intere�t in the
<br /> Pmperty,upon Lender'.s rcyucst Barrower�hall pr��mptly�fumish to Lrndcr rercipt�eviJcnrinE thr�e payment�.
<br /> .o o__.....__ .•_:�.. . .....�.. .►...._.. .. ..,�. .� rh�. .,,,omom. n•uuimd b�� Prrnurvnh ? nr fvils to ocrform :utv uthe�
<br />. _. _-_ . •� u�a�wv�.. .u..n •: .•.....�. ....-.. �,.".j.^.:�..... .�. ...� �_�._._..
<br /> ' covenunts and ugrecmenls conluineJ in thi+5rcurity In�trument,or�hcrc is u IrEul pnxceding Ihlit mrv�ignificuntly uffret
<br /> � Lender�rightti in thr Proprrty(such a,a pnkeeJing in hankruptry, ti�r cundemnution or to enfone iaw.or regulu�i�m.l.
<br /> - then L.ender may do and puy wh•rtevcr i�necr��ury to prulect�hc vulue al'th�F'mprrty anJ Lendrr'�ri�hts in thr Pn�prny. �
<br /> including payment of taxcs,hur.ani imurs►ncr unJ ath�r ilemti mrntiancd in Puragraph 3.
<br /> � ., Any umuunt�Jixhur.cd My LenJcr undcr Ihi+Pura�raph.hall Ikromr an uJditiunul Jcht ul'H�irn�arr unJ he xrunJ
<br /> ._- . -- �-_� -- ,- - - by this Security lnstrument. 'Che.c ant��unl��hnll Fw•.�r mtrrr•:t fmm the dntc��f di,Munrment,at Ihe Nalr rule,und at thc
<br /> •� uption of Lrnder,shall bc immedic��ely Jur und payaMr.
<br /> ,., 7. Condem�otion. 7'hc pnxeed�af uny uwurd or rluirn ti�r Jama�:r�,direct��r r�m�ryuenuul,in runnertinn wilh uny
<br /> . . , condemnatiun or uthcr t�hing ut'uny pun uf thc 1'rvFxny.or ti�r convry•rnrr in plucc uf cundrmnuiion.ar�hrnrby u,.i�ncd �
<br /> � '��� nnd shall ix paid to Lender tn the extrnl��I'the t'ull amuunt��f�hr inJchtrdne.ti thal rcm:�m.unpaid ondrr thc Nutc anJ thi. '
<br /> , ' Securily Imtrument. Lcixlcr+hull uppl�•+uch pnxrcJ�tu the rrductiun�if thc indrbteJncsc undcr Ihe Nulr anJ Ihi��rcuriiy �
<br /> Instrument. tir.ct to any Jclinyucnt umounn applird in thc i�nlrr pruvidrJ in Purugruph ;, und thrn t�� prcpa)mrnt of �
<br /> .. _ ,. ' princip�l. Any oppliculiun uf thc pnxcrJ� to thr pnnripal +hall nu� rxlrnd ��r �,�t�xmc Ihr du� Jatr of thc monthly
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