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<br /> _ 1. P1ig�i'a��iQ�iS P!lssClpal�I!lterest e!!d Ll1M Chsl�e� PMmwr►�hAll(w�y when Aue ihe(�rinoi�el ef,�u�d inte�e�t oi1. r
<br /> th�dabt evidenced by tho Noto or�d late churYea�due w�der the Notc.
<br /> 2. Montldy p�yaxnu of 7�a.Inwraqce pnd Othe�Ch a. Sorrower shall lnclude in each montl�lY prYment.
<br /> ' = toQether with tho prineipol and intercst cu set forth in�he Not��any late charges. an ins►allment af any(a)t�cee and
<br /> .� �pecid a�esunenu bvied or w bc levied�gdnst�he Property.(b)IeasehoW pnymenta or Qround rena on the i'ropeAy.and
<br /> (c)prcmium�for lnwrrncc requircd by Paragr�ph 4.
<br /> _c p.�ch monthly inatollmcnt for items (a). (b)tind(c) �hall uquul onc-twelftt�of tho annual amouma. aa reaeunRbly _.
<br /> atim�ted by Lende�, plus an ornount suft�cient to maintain an addiNonel balance of nw moro than ane-sixth of the
<br /> ettim�ted wnaunts. The full wmual emount for each item shall be accumuleted by Lender within u period ending one
<br /> _ _—_-- — morstls before nn tttm�vould became delinquent. L.eeder shall hold the emoum�c.�+lk+cted in truRt to poy itenw(a).(bl and �_
<br /> —--- (c)befora Ihoy bccoma delinquent.
<br /> ��,,+,t..,� If wt eny dme the twal of tha payments held by Lender for items(a),(b)und(c),wgether wlih the future monthiy
<br /> — p�ymentx for auch items p�yAble to Lendcr p�for to the due dates of such items,cxceed�by man than ane-sixth the
<br /> - - `��'�' eatimdod junount of payment�requfred to poy such items when due.and if'pa menls on the Note are current.then I.endcr �_
<br /> .;�,,,�,� ahWl eitl�er rcfund tho excexs over one-aixtb of tho estimated pnyments or c�t the oxcess over one-eixth of the esUmated
<br /> p�ymenta to Rubccquent paymcnts by Borrower.at the option of 8orrower. If the tael of the payments mode by Borrower
<br /> ����LY�,� i'ar item(01.(b),ar(c)is insuf'ticlent to pay 1ha item wtKn due,then Borrower ehell pay w Lender any emount nece�ary to
<br /> ��a..m�m.� mdco up tho deliclency on or bcfare the date 1he ltem bocomes due.
<br /> --- AR uced in�his Securfty Instrument."Secretory"meana the Secretary of Housing and Urben Development ar hJs or her
<br /> � deaig�e. In nny year i�which 1he l.ender must pny a mortgage insucence premium to the Seerctary.each monthly pAyment
<br /> - ehWl also include either. (i)an lnstallment of the annual mortgagc insurence premium to be pafd by Lender to the
<br /> � — �"°.ri,: � Secrctary,or (H) a monthly chsrge instead of u mortgage insunux:e premium If Qiis Security Insuument is hcld by ihe -
<br /> '����- • — Secrctory, FACh monthly instnllment af the mortgage iasurance premium shall be in an nm�nt sufticknt to accumulate the
<br /> i,_� �- fall onnupl maRgagc insurunce prcmium wlth I.ender one month prior to the date the full annual mortgage insurrnce
<br /> -���''�fR' prcmium ix dua to tha Se�:retary;or if this Securlty Instrument is held by the Secretary.each monthly charge aha116e in an
<br /> � '+","�~''�'';'`'' � wnount eyut�l to one-Iwelfth af ane•half percent of the outstanding princ�pal balance due on the Note.
<br /> :.,�,,t If Borrowcr tendera to I.cnder the full payment of nll suma securcd by this Secudty Inetrument,Borrower's acwunt
<br /> .. ,,.' xhall be credited wilh the bulance remuining for nll installments for items (a), (b)and (c)and any mortgage ina�rance
<br /> ��`t"�w''"� '�' " prcmium instelimcnt thet L.ender has not become obligeted ta pay ta the Secrctary,and Lender shall promptly nefund en
<br /> — • �.,. ��.
<br /> ',�'� ;.:, ,,..,: aacetir fundx W Bor�ower. Immedietely pdor to a foreclosure sale of the Property or its acquisition by Lender.Borrower
<br /> —�,� _ .. ___ �n�ahr�ll be crcdited wi�h uny bolance remaining for all installments for items(a),(b)and(c). _
<br /> �`A""" ..:. �: .! 3. A Ilcatioo ot Paymenta. All payments under Paragmphs 1 and 2 shall be applied by l.ender as follows:
<br /> � i��'�.,}4 �;,~ �ta IhC mortguge insurance premium to be pwid by Lender to the Secretary or to the monthly charge by 1he
<br /> Secrct inxteod af the monthly mortgage insutance premium:
<br /> � .,,;.,�.-_--- �- _ ��ta:u�y ssxe�.�xc3a!ass�ss�nenis.lessehold gspmencs or ground rrnte.and ti�,fl�x�d and ather hazud
<br /> _:,�:._ ., nxurance premluma,uxreyuired;
<br /> _� �� �.10 interext duc under the Note;
<br /> —' � '' ' ,., to umortizution of the principnl of the Note;
<br /> �_r� � � tj,ta lute charges due under the Note.
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<br /> q, Fire,Flood and Other Hw,ard Insur�nce. Borcower sholl insure all improvements on the Property.whether now
<br /> �"`� �:aa-- � in existence ur�ube�ucnUy cnxa:texl.ugainst;uiy hazards,casualtics,attd ca�tingcncics, Including tire. for�:hich Leada �
<br /> ..,t:''�•. .-..• rcquircs inxuranrc. This insurance shall be maintoined in Ihe nmounis and for the periads that L.ender requires. Bornower
<br /> ;•__� � - � � nhall ul�insure ull improvements on�he Property,whether now in existence or subsequently erected,egainst loss by floods
<br /> � • lo the eztent reyuired by�he Secretnry. All insurnnce shall be curried with companies approved by Lender. The insurance
<br /> - , - � ' policieg md +my renewuls shull be held by Lrnder suid shull include loss pnyaMe cluuses in favor of, �+nd in a form
<br /> ___ � .��:-�.:t�Q�_ �cccpl�blc to.Lcnder.
<br />- --� '.```," -� - In the event of luss, Bortower shAll give Lender immediute notice by mail. Lender may muke proot of loss if noc
<br /> mwle prwnptly by Borrower. Farch insurunce compuny concemed ix hereby authorized and directed to ma�;e payment for
<br /> � •�Y•� � - � �uch laax dircc�ly to l.ender,in+tead of to BoROwer und to Lender joindy. All or nny part of the insurance proceeds may be
<br /> .v'• - - - op�IicJ by LenJer,ut its uptiuu,either(u)to thc rcducUon uf the indebtedness under the Nate und this Secunty[nswment, �
<br />� � � • „ lirrl tu any dclin�uent umoutu� opplied in�he order in Paragraph 3. and then to prcpayment of principal. or(b)to Ihe
<br /> = .;:' rc�toruti��n ur repair uf thc dAmaged pmpeRy. Any application of the prceceds to the principal shall not extend or postpone
<br /> �t�''' ihe due dute uf�he monthly puymems which nrc referred to in PArugrnph 2,or change the umount of such payments. Any
<br /> -- ' � " • cKrew�ineuruncc prurced�over un unwum reyuired to puy ull autstunding indebtedness under the Note and this Security
<br /> _ ..,, ° In+clruenent xhall hc paid 1���hc entity Icgally cntided thereto,
<br /> „ Ia the event��t larcclu,ure uf�hia Serurity Instrument or other Irunsfer of title to the Property that cxtinguishes thc
<br /> �• (iklehlodnCtir,uU�ight,li�lc unJ in�crest uf Bi�rrowcr in und to insuruncc policies in force xhall pass to 1hc purchaser.
<br />- ,�;�... � 3. lMcupancy� Preservutlun. Maintenance �nd Protecltun oP the Property; Borrower's Loan Applkation;
<br /> _ '���' . . � � � Leprthuld�. 1lurtowcr�hull ikrupy,r�tublish, und use thc Propeny us Borrowcr's principal residence within sixty days
<br /> • "' ;�:• • uhrr Ilx escru�iun nf�his tiecurity ln�lrumem c+nd tihall continuc u►ixcupy the Proprny a� Barcowerk principal residence
<br /> �•' '��'d 1'ur rt Iru�l�aw yc+�r ultcr ihe d�lc af�xrupuncy,unlcxti the 5ecrewry determineti�his rryuimment will cause undue hardship -
<br /> �-'. ° lur Iln►ruwcr, ur unlrtir rx�rnuu�ing circunititunreti exi,t which urc ticyond Bonowrr: control. Barrower shs�ll notify
<br /> � I.ei��+ul uiry cz�enuulinµrirrum+tance.. H��rniwcr tihull nul commit wa�tr ur de�tr��y.Jumuge or substnnti:�lly chnnge
<br /> �S � IIN•14u�ny��r ulluw Ihc I?uperty N►dMcrior;�tr,rco.anublc wcar und tcur excrp�cJ, Lendcr muy inspect the Property if thc r
<br /> '" Ih�qMny fv vuc+uu ur ubunJuikd ur�hc lu:m�� in detiiult. Lendcr may tukc rcuennable uction to pro�ect und pm+erve tiuch =
<br /> vw•unl ur aFwikk►ncJ t'nryxrty. Norcowrr.hall ul��► I+c in dct'uuU if Borrowcr,during thc loan upplic�tion process, gavc _.
<br /> � uwleuully lulk ur Inurcuratc mfonnu�ian ur .lalcmenh lu I.cudcr lur failcJ to provide Lender wi�h nny muleriul E
<br /> �ulunuuliun� iu��mnrrunn willi �hr lu;in rvidrnred hy Ihc No�c.inrludin�;. bm no�IimiteJ �o.representa�ions conceminF
<br /> , �`Cj •- ' �� Nnnuw.rl�krup,urcy ut thc I'ru�xrty u�u prinr�pal rc.idcncc. If�hi.Sccuriry In.trumem i.nn u Icaschold.Borrower xhall �
<br /> i�anply w�lh the pruv�tiu�n,„1 ihr leat+e. If Hurrow�•r aryuin�trc hlle ti�thr 1'mFxrly.�he Icatieh��IJ und fee IiNe shull nut �_:
<br /> ' � � � M��N•�krd uulr,.I.rn�lrr,��rrr.wthr inrr�:cr in anlin�. ,
<br /> � ' 6, i'hwrKc+lo Horrnwer und Prolecllon of I.emlcr'w RiRhlx in the Pr�ry�rl�•. Rum�wcr sh,�ll pay idl govrmmental
<br /> ur nium.ip:d char},r�, Imr.unJ iin�xi,iuun,lhul iirc uul includrJ in I'��ru�raph?. Nurruwcr+hull puy the.c obligatiom on
<br /> � ' Iu�H•du.�clly t��tl��•rnlNy wbirh �.uw.•�t Ihc �,aymrut. If lailurc �a puy wauW uJv4ncly uffec� LenJcr± imcres� in thc
<br /> Itiu�rn�.u�M�n Lcndcr:uv�ur�l Ii�au�wcr.hall prompll� tunii�h tu l.cndrr rcrript,cvidcncing thc�r payrnentx. �.
<br />�.��--. �'•--..�-.�" ----- ----'� u u..�_........ �..J� �.. .....L.. J.......�oa..wo�. ..� �Iw ����v���.au. rw�uir.al hv ��ruoriinl� � nr I�uil�tn rr�rfixttl :1nV nth�•r
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<br /> • • , , , ! �uvcnaol.uod uµrcrmrnl,cum,uncJ m tluti tircunlp In�mm�rm,or Ihcr�i.+i I�g:�l pnxceding thal may �igniticunUy al'fcct f
<br /> I r�i�k•r'.iiphH 1u IIh• fhu�x•ity I•ueh n� ;� pnk•�•.dm}� m h:mhn�ptr�. I��r runJrmnulion ur tu cnf�ircc law�ur m�ulutioml. !
<br /> _ � IIM•u 1��I�k•� u�r� du und puy wh�lrt•rr i,nr�����my lu prulrrl Ihr v�dur ul Ihc I'�u�rty anJ Lrndcr ti ri�hn in the Pm�xny, r
<br /> hk•lud�np��,�ynk•�N ul I.ire.,I�.v�n�l in,uramrr an�d��Ihrr u�m.mrnUunrd m I'uruFr.iph�. �
<br /> -�-- .' -- �1ny+miuuu�.di�lnu,��d by Lrnder unJrr Ihi,I:u;��r;ipti +hull txrumr an uddiuo�ial Jch�uf Borrowrr anJ be sccurcd
<br /> hy Ih�.tic�uNlti (mUUn�rul 17i�•.r lunuwit,+I�ull Ixar�nt�vc+l hum thc d�ur ot�fitibunrmcm.at thr Nutr ra�c.iuxl ul Ihr '
<br /> � , �MNua�ut I �nd�•�.�h�dl tx•onmrd�+ilrly dur;mJ p�iy;�t,lr. '
<br /> 7. /'ondeiun�lWm. 1 hr�n��rrd,�d any uw;ud ui rlaim tix dunw�;�..direr� ur run.cyucntiul.in runncrlion with uny ;
<br /> ��NkA'IHII�II�NI ul �HIICI Ldwk ul :ui> ��:u�ut II�.• I'm�x•rly.ur tur cuin•ey uncr n�pl��cr nl rundrmnutiun.ure henby ux�i�nrd :
<br /> r::+l,h�ll l�•pa�d 1��L�•iMlrr w ih��r�l��nl ul Ihr lall,mwunl ul du md�hlydnr��Ihul rcrnain+ unp.►id unJrr thr Nut�und thi.
<br /> • \��.w�H lu.l�uua•nl- I.rnd��r,h,dl apply ,u�'h pr�r•cedti 1��Ihr icducuui�u(Ihr mdrhtcdnr„undcr thc Nntr and Ihi�Sccurity �
<br /> .. lo,uunirm. In.� 1�� un� d��hnqu�•iu umuinu, +�p��hrd iu �h�r urdr� pruvidcd m 1'uru�ruph �. tmd thcn tu prcpuymrnl u; �
<br /> ` ', piuk�pal ,1ny up��b�uUuu �d Ihr ��u�c�•J� Iu Ihi• pnnripnl .h�dl nul rKlrnJ ur �►�I�xmr Ih� Ju�dute ut�th� munthly i
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