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<br /> �, 1. P�yment of Prindpsl�lntere�t aad Lote Ch�e. Bortower slwll pay whcn due�ho princlpW o�.wul inter�crt on,
<br /> _ `_„T.--•--
<br /> - 1he debt ovidenced by the Notc ond iote ch�rgea due under thc t�iwc. �___
<br /> . . 2. Monihly{wYmentr ot7lucee.Insuraace and Other Clurgew Borrowcr Khall include In each mon�hlY paYment.
<br /> � ��'.•,; togelhcr with Ihe pr!nGfpol ond interert o9 set forth in the Nate and any lato chargts,an instAllment of uny(a)taxer wul
<br /> . � :•; apocl�l agsessmente levied or to be levkd agains.t thc Property.tb)Ieuehold peymenw or�round ren�r on�he Propeny.and
<br /> ` ""4�.•.s u a•._ (c)p�emiums ior inaurence requined by Perngraph 4. .�
<br /> -- •'""--`.`'�,.'�' Fach monthly ins�ellmcnt for items(u),(b) ond(c) shall cqual onc-twcli�h at'thc onnuol anount�.a` rcasonably
<br /> � ... , esdmated by Lcnder. p�ua un emount suiflcient to mwimein an udditional balonce of nat more thpn cme•sixth of !he
<br /> "'� estimated omounts. Ti�e full annual nmount For each item sh�ll bc accumulnted by l.ender within a periad ending ana
<br /> �� �f�'��{"'�?*__ month before an item would become delinquent. Lender�hall hold �he wnounts collceted ln t�w to pay item:(rl.(b)wwi
<br /> _ - — t�?btfore thep lMcome delinqeent. .
<br /> --'�""'��T^-^ " If ut any dme the twel of the payments held by Lcnder for items(u).(b)und(c).together with 1he future monthly
<br /> - �.,�-.::. _...
<br /> - "�,,,� payments for such items payable to Lender prior to the due dates of such items.exceeds by more than one-six�h the
<br /> �-�'- . � `.a• , estlmatcd amount of payments required ta Pay suGh items when due,und if paymcnts on the[�ote sue currem,�hen I.cnder
<br /> • -� �`'; shall either refund ihc excess over ane-sixlh of the estimated paymeots or credit�he excess ov�r one•sixth of�he estimated
<br /> � � payments to subsequent paymenta by Botrower,at thc aptton of Borrower. If Ihe tola!of the paymentx mada by Borrower
<br /> —r.w; • � ' for item(a),(b).or(c)is insufticient ta pay the item when due.then Borrower sholl pay to L.ender my wnount neceswry to
<br /> � :., .'s�•>.>.� . • nwice up�he deflcieacy on or before 1he date the item becomes due.
<br /> ��,�_,,: ;.• � �,�� As used in this Security Inatrument."Secrctary"means the 5e�:rewry of Housing und Urban Develapment or his or her
<br /> �� .': .. n�":"'��.• desig�e. In any year in wh�ch Ihe Lender must pay a mortgage insurona premium to 1he Secretery.each manthly pAyment
<br /> :=�k ��'�s.`'''=`=�"``"�== eha11 also include either. (i) an installmcat of thc annual mongagc insuranee premium ta be p�id by l.ander to the �- ---
<br /> �: -a� ..•• a'�'-•••`''!`"'�''` Socrctery,ar(ii)a monthly charge instead of A mongage insurance premium if this Security Insuument is held by �he
<br /> � ., Secretary. Each monthly installment of the mongage insuronce premium shall be in an umount sufficient to eccumulate the
<br /> .• fuU annual mortgege insurance premium wilh Lender one mon�h prior to the date the full annual mortguge inaurance _
<br /> � � premium is due to the Sec►etary;or if this Security Instrument is held by the Secretary,each munthly charge shall be in on
<br /> , •ti ' � amount equal to one-twelfth of one-helf pereent of the outstending principal balance due on the Note.
<br /> � If Borrower tende�x to I.ender ihe full payment of all sums secured by this Security instrument,Borrowerk uccount
<br /> ° ',�.:�r�����'"''�'� shall be credited with�he balance remaining for all installments for itema(a),(b)und (c) and an mortgage insurance
<br /> c
<br /> , -,,.,� premium insteliment tliet Lender hag not became obligated to pay to the Secretary,und Lender shal promptly mfund nny
<br /> " � � excess furids to Horrower. lmmediutely prior to a foreclosure sak of the Propecty or it�ucquisi�ion by Lender.Bormwer's
<br /> account ehall be credited wi�h nny balance remaining far all installmen�.c for items(a),(b)and(c). _
<br /> ' , � � 3._Ap�licpNon ot Paymenfs. All payments under Pnragraphs 1 and 2 shull bc npplied by l.ender As follows: ____
<br /> ' c� F1S�T.to the mortgage inxurance premium ta be paid by Lender to the Secre�s+ry ar to the monihly charge by the
<br /> �,� : Secrc instead of the monthly mongage insurance premium:
<br /> = -- �.to attiy ta�es,special assessinents.teasetwfd payit�c�ts or graund tcnts�and firr.flood and o!!xs l�azan! --
<br /> • , , . Insurance premiums,asreq uired;
<br /> � • • �Q,to interest due under the Note;
<br /> +, � Eou�,w umonizution of the principal of the Note;
<br />�r .,h,.;� �,to lute charges due under the Note.
<br /> �- 4. Fire,Flood and Other Hn�ard Insurance, Borrower shul l insure all improvememx on�he Prapeny,w6ethcr nuw _
<br /> :%��. . in existence or subsequenUy erected,against any huzords,casuul�ies,and cantingencies, including fire,for which Lender '
<br /> �`` reyuires insurance. This iaQUro��ce shull be muintained in the Amounts nnd for the periods thot I.ender requires. Borrower --,
<br /> :� ,, shall also insure all improvements on the Property,whether now in eaistence or tiubseyuently erected,agamst loss by floods
<br /> .. to the extent required by the Secretary. All insurunce shnll 6e carried with companies approved by Lender. The insurance
<br /> , � ' policies and any renewals shall be held by Lender und �hull include loss puyuble cluuses in favor of. and in a form �,_
<br /> � acceptable to,Lcndcr. - K
<br /> �. ' � f� :;'�-_
<br /> �.:,, � .. , � . •.' In thc event of loss, Borrower shull give Lender immediAte notice by muil. Lendcr muy mnke proof of loss if not ,_.....,_,
<br /> �-• � made pmmptly by Botmwer. Ea�ch insurnnee company concerned is hereby uuthoriud und directed to make puyment for
<br /> �,•. " such loss direcdy to Lender,instead of to Borrawer and to Lender joindy. All or any purt oi the insurance procexds mny be ������
<br /> ' applied by Lender,at its option,either(a)�o thc reduction of�he indebteJness under�he Note und this Secunty Instrument, �-=_'�-`
<br /> " first to nny delinquent umounts applied in the urder in Parugraph 3, and then io prepuymenl uf primipul,ur(b)to thc �:
<br /> � ," - ''�. rcstoration or repuir of the dnmaged propeny. Any•rpplicution of thc prceeed,tu Ihe princ�pul shull not eztend or postpone ��'"W~�
<br /> 1he due date of the monthly payments which are referred to in Porugruph 2,or chunge the umount of such payments. Any _ _
<br /> � � • excess insurnnce proceeds over an sunount reyuired to pay ull outstunding indebtednesx under�he Note and this Security �.
<br /> . . Inswment shall be paid to the entity legnlly rntiNed thcreto. �-'�='°?'"_'�
<br /> ln the event of forcclotiure of thix Securiry Insttument or oiher trun�fer of�itle to the Property thut extinguishes the �+�
<br /> • � ., indebtedness,ull right,title und in�erext of Bormwer in und to insurun�e pulicies in force tihull p:us to thc purchuser. '�,_..
<br /> - � S. Occu anc PreservAtion, Maintennnce and Protectfon of the Pro ertv: Borrower's Loan Application; ��-'^,_}
<br /> , a . . . , P Y+
<br /> ,, �` - I.easeholds. Borrower shull cecupy,eslublish, und use the Prop�:ny u,Borrower's pnncipul rcsidence within sixty days �-°, .-
<br /> ' after the execulion of this Security Instrumem und shull continuc����xrupy the 1'ro�xny u.Borroweri princips�l residence =�_"�'�"
<br /> ' •iu�� for at lenst one yeur after the date of occup•rncy,unless�he Serretury detertnineti this rcyuirement will cause undue hurdship ="`'3�
<br /> ' �:"''.' ' _ for Borrower,or unless extenuutinF rircumsiancer exi+t whirh un lxyond B�ttr��wrr� control. Bormwer tihall notify :'�':,`1
<br /> ; Lenden of uny extenuating cinums�ances. Borrower+hall not commit wu;te cir Je+truy,dumuge or substun�ially ths+ngc "
<br /> . � the 1'roperty or s�llow the Property to JMrriurute,r�u�unablr w��r anJ leur exccptcd. Lendcr may in�pccl lhe Property if thc ° '-
<br /> PropeRy is vucunt or s�bandoned or the lo:u� i�in defuuU. Lender m•ry t:ik�rcu,anablc action to protect and pn�serve such :
<br /> varant or nbandaned 1'roE►eny. Barruwer+hall uho he in Jefault i(Fiorrow•cr, during the lo•rn uppliration pnxes�.Fuve • �
<br /> � — " mnterially ftdse or inaccurate infortnation ur �tutement� to Lender (or failed Io pruvide Lender with uny matenal �
<br /> information)in connection with the loun evidenred by the N��tr,including,hu[not IimiteJ tu,repm�cntution.cunceminF I
<br /> Borrower's accupancy of the Pniperty u�u principal resiJrnce. If ihi.Securiry In�trumrnt is un a Ir•r+rh��ld,Born�wer tih•rll �
<br /> - ° comply with the pruvi�iuns of Ihr lea�r. If B��rruwrr acyuirc. 1'ec tidc�u thr Pr�ry►�ny.�he Ira�ehuld und fer titic+hall nrn � ,
<br /> be merged unles�Lcndcr agrccs to Ihc mcrgcr in writing. �
<br /> � •- 6. Charges lo Borrower und Protection of'Lender's Ri�htti In the Prnperty. Burrow•rr tihall pay all guvemmrntal
<br /> . • • or municipul rhsuges,finex:mJ impo.ition+thu�are not includrJ in I'uragraph �. Hurcu�ver.hall pay thru oblig•rtium�m
<br /> '. �ime directly to �he en�iry whirh i+oweJ�hc pa�•mrnt. If fuiluR w pay wuu1J:fdvcnrly :Ntcrt Lcndcr', mtem.t in �hc �
<br /> �__ Property,upun Lender�reyuc>t B��rtowrr�hull pn�mplly tumi.h w Lcnder r�Yeipl,rvidrn�ing Ihc��paymentti.
<br /> _ " �C t�__'...__!_:�., .., _..1.' .L' ' __'___.. .__.L' _.."_'_. _..."_'! L.. •L_._.__._L l .__�_"t.. •._ ....�...�.. ........�Mw�
<br /> ...'-- --- u u�lwwa:� �au�nr munc u��x F�aywa.ma an u�� �.w�u��n�.. ��yuuw uv •mup�uF.0 ... •n un.,�.. F...w��.... � .......
<br /> �� covenunts:uid ugreements rontained in this Security In+trumrnt,ur Iherc i�:��Ie�al pnxredin�;that m:��•.ignilic�mly:+tt�ct
<br /> ✓ Lender's rights in the Propeny lsuch a� a prxxeedin� in M;uikruptry,ti,r cundrrnnuti�m ur�u rnfonr la«•.ur rcEulati�m+l.
<br /> then Lcndcr may do und pay whutrvcr i,nrcr..ury lo prolrct thc�•aluc uf th�F'ru�x rty and Lrndcr'�right�in thc Ffi�perty.
<br /> including puyment uf taxc+,h;vard in+uroncc and uthrr ilcmti mcniiiimd in I'ar•r�raph'.
<br /> , Any ttmountx di�buncd by Lcndcr undcr�hi�Pura�:raph�liall lxcomr an addi�iunal dcht ul Hum�wrr and Ix kcureJ
<br /> � :� by thi+Securily In.trument. Thexe:un.wnt, �haU Ixar iutcrt�t from Ihr d�te uf di.hur.rmrnl,ri thc Natr rat�.anJ at the
<br /> — - opuon ot i.enJer,shaif he�mmcd�ateiy iiuc and pa�anlr.
<br /> U l 7. Condemn�tiun. The prsxecdti i,f anv a�varJ ar claim litt damu�:c�.dirrr�ar camrqurmial.in cunnec�iun��ith any
<br /> Irundemnatiim or o�hcr iakin�;uf:u�y p•rn iif t�r F'ru�xny.ar tar cumcvanrr in{�lar�al.•„nJrmn;�tiun,urr hrrrhy a.�i�nrd
<br /> �nd shvll be paid ro LenJcr ro�hc cxirnt of thr full anx�um uf the inJ�htednr++that rcmain.unpaid under thr Nutc:mJ Ihi�
<br /> Security lm�rument. Lendcr.hall upply�urh prixrcd.t���hc n durt am at Ihr indcht�Jnr+.und�r ihr N�,tr and thi�5ccunt�
<br /> . � Ingtrumcnt. fint �o uny drlinyucnt umuunt. uppl�cd in thr ��rdcr pru�idcJ in P:ira�:�aph i. and Ihrn tu pmpa�mrnt at
<br /> . � .. prinripal. Any applicutiun uf thr pn►cecJ. tu thr pnnr�pal ,hall iN�t ���cnd nr �x,.t�xmc �he Juc .I:Ar ul thr nwnlhh
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