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<br /> l. I'p��neent d Prlaclppl,Aaterest�nd I.nte Cb�e. Borrower ahoU pay when due the principal of.and interest on.
<br /> - tbe debt evidenced by the Note and l�te chorgee duc under the Note.
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<br /> • 'l. tMO�tit7 P�Y�n ofi Tioxee,�murance ana Oti�er C Bui�uwo�aiwiE iiwSwiC u.�;a.:{����:wt y paymcnt� •
<br /> -•N toge�her with the principal�nd intercst as set forth in the Note andany late charges,an installment oP any!a)taxes and
<br /> = spocirl as:esamenta levled or to bo levled against the Property.(b)leasehold paymenw or�round rant�on the Pinperty.and
<br /> (c)promiumr for inxur�nce requited by Pruageaph 4.
<br /> '"'' Erch manthly inrt�lintent for items(e),(b) and(c) shall equel one-iwelfth of the annual amounts,as reasonwbly
<br /> r�"•� i estlmakd by Lcnder, plus an amount sufficicnt to maintain an additional balence of wt more dwn one-sixlh of the �
<br /> e�Nmated amountr. Tho full annual amount for each item shall 6e accumulated by l.ender within a period ending one
<br /> .}�� ,��H,,.,�,�� mwtth beioro an item would become de8nqucnt. Lender shall hold the amounts coUected in trust to pay itema(4).(b)and
<br /> - - (c)befaro they becomo delinquent.
<br /> --_ _.�.-..r..:-�_�:.�� 1f ut ony time the tota!of the payments!seld by Lender for ltems(a),(b)end {c),tngrrlu�r wi�h the future mnnthly .
<br /> paymcnta for such itoma payablc to Lender prior to the due dates of such�tems. eaceeds by rnone�han one-sixth the
<br /> ����;������ estimated omount of paymenle«quircd to pay auch items witen due,end if pa menta on the Note are current.then Lencicr _
<br /> �-W w n- shell either refund tho eac�s aver oiu-sixth of the estimated payments or c�t the excess over one-sixth of the esdmated _
<br /> - �'�',.��x:��� poymenta ta aubcequent paymenta by Bortower,at Ihe option of Borrower. If the tatal of the paymenta made by Borrower
<br /> �""��'='�;'�=' � f o r i t e m(a).(b).o r(c)i s i n s u f f i c i e n t t o p a y t h e i t e m w h e n d u e.t h e n B o r r o w e r s h a ll p a y to Lender an y�nount neces s o r y to
<br /> =_�yfry:. make up the deficicncy on or before the dote the item becomes due.
<br /> �.�,�� As uced in this Secu�it Insuument,"Secrctary"means the Seeretary of Housing and Urban Development or his or her
<br /> tu.y w.camw....r� .
<br /> :�-;1� deslgna. In any year in wh ch ttie Lender must pay a moRgage insurance premium to�he Secretary,each monthly payment
<br /> ___ �_:,;,�,.�.r.-,. ;.,�ti� shall also include either. (i) an inatsllment of thc annual mortgage insurance premium to bc peid by Lender ta the
<br /> �.��;�,�;.�� Secretary.ar(ii)a monthly charge instead of a mortgage insurance premium if thia Secudty Inslrument is held by the
<br /> - =��:�s.���s•�;,::,r�aK• Secretary. Each monlhly instalin�nl uf'the mortgage insurancc prcmium shull be ln an amount sufficient to accumulate the -
<br /> ___;, �;,:•." •. • �' full annunl moRgage insurance premfum with Lender one month prior to the date the full annual mortgage insurance
<br /> ��''.^�%��:M�4i�,�:,' premium is due to the Secrctary;or if this Secudty Instrument ia held by the Secretary,esch monthly charge shall be in an
<br /> � • amount equal to one-twelfth of one-half percent af the outstanding principal balance due on the Note.
<br /> ��'�� �"'� If Borrower tendera to I.ender Ihe full payment of all sums secured by this Security Instrument,Borrowcrk account
<br /> �y' ' shall be credited with the bulunce rcmaining Por all installmenta for items(a),(b) and(c)and any mortgage insurance
<br /> .�� '.`,`"`' " `�';� "•'`� ' premium installment that I.ender has not become obligared to pay to the Secretary,and Lender shall prornpUy refund any
<br /> -'F • `'�.:�it;, excesa funds to Borrowec Immediately pdar ro a fareclosure sale of the Property or i1s acquisition by Lender.Borrower's
<br /> - ,,;�.:ts;�.���.�.'-'.i�:s account shell be credited with Any balunce remaining for al!inswllments for items(a).(b)and(c).
<br /> ' '.� . 3. A IlcAtlon ot Pt�ymenf�. All paymenta under Paragruphs 1 and 2 shall be applied by Lender as follows: --
<br /> ,:,��; � � •- � '�• -.�::�9 �to the mortgage insurnnce premium to be paid by Lender to the Secretary or to the monthly charge by the =
<br /> -� ." ° y'�. � Secre instead of the monthly mortgage insurance premium; ■+
<br /> - ��. - • ta .to any texes,speciAl avsersmema.leasehold paymants or graund rentsr,and fire,flood and other 6azard
<br /> : ,�.''��'�.�,� �6.�a
<br /> — -- dnsusance gremiums,as rcq�ired;
<br /> ,� ., ,' . �]$Q.to intcrest duc undcr the Note;
<br /> , . , FQjj$�,to amortization of thc principul of the Notc; -
<br /> � " �,to late chnrges due under the Nate.
<br /> �t :�"`'' 4. Fire,F7ood and Oiher Hauird InsurAncc. Borrowcr shnll insure all improvements on the Property,whether now
<br /> `;ir' °� •.n- in exietence or subsequenlly erected,ugrinst uny hu�arda.cuvunitiex, and contingencfes.including�re,for which Lender
<br /> • ' � " "' requines insurance. This insu�ance shull 6e muintuined in the nmounts und for the periods that l.ender requires. Borrower
<br /> - ' shall also insure all improvemenlx an Ihc Propcny,whe�her now in cxistence or subsequently erected,againat loss by floods
<br /> '�_'1. , . •� �� �� W the extent required by the Secretury. All imurunce xhull be curried with companies opproved by Lender. The insurance
<br /> '- . ,:•�:.•. policies end any renewals shull be hcld by Lender und shull include loss puyable cluuses in favor of,and in a form
<br /> _ . _.� ... ..��... ., acceptoble to.Lender. -
<br /> - - In the event of losx. Borrower rhull givc Lcndcr immcdiute nutice by mail. Lender muy make proof of loss if not _
<br /> _.`::' �:s�.:..�•�__. :,:� �� made promptly by Barrower. Ench insurunce cumpuny conrerned is hereby authorixed and directed to make payment for
<br /> � ' �`r� � � such loss directly to Lender,insteud of m B�irrnwcr und tu I.cndcr Juintly. All or uny purt of the insurnnce proceeds may be `-
<br /> �;�, k,�- .: . . applied by Lender,at its option.either(o)to Ihr rcductiun uf the indebtedness under the Note and this Secunty Instrument,
<br /> '�c.,,- �,. .. . first to any delinquent umountti upplied in tlx. c�rder in P�aragruph 3, und then to prepuyment of principal,or(b)to the
<br /> ' ' "' restoration or repa�r of the damuged propcAy. Any upplicu�ion of�hc prcxecds to the princip�l shall not extend or postpone _,
<br />,i�t: �� .�' the due date of the monthly payments which um nfcrrcd tu in Hirugruph 2,or chun�e the umount of such puyments, Any _
<br /> excess insurnnce praceeds over an umount reyuircJ�o puy uU outstunding indcbtedness under the Note And this Security -
<br />- • •+�.- �• Inswment shnll be paid to the cnlity Icgully emiUcJ thcRw. �
<br /> �� in the event of fomclasure of Ihiw Security Inytrunum or ulhcr trc�nsfer of�iUc�o the Propeny that extinguishes the
<br /> ' indebtedness,aU right,title und interex�of Borrowrr in und w in+urunce policies iu forre sholl puss to the purchuser. -
<br /> ��?�., � .. S. Occupancy, Preservwtlun, iVtulntenonce und Pratcclion of the Property; Borrower's I,oan Applkation; _
<br /> -� -� . ' Leaseholds. Borcower shull occupy,r.iublixh, :�nJ ux thc I'�openy uh Borrowerti princips�l residence within xixry dnys
<br /> �� � after the execution of Ihis Securiry Instrument und xhull romfnue to orcupy�he Property ae Borrower's principal residence
<br /> •�'''�� for at leust one year after the d�tc uf�xcupuncy,unlrs��hc Sccrr�ury dc�rm�ines thiti rcyuirement will cause undue hurdship
<br /> �ya'..r`. : :�. .. .
<br /> �� for Borrower, or unless extenuutin� rircunistunres eai+t which ar� i►cyond Bune>wrr's control. Borrower shull notify
<br /> • • ° Lenders of Any extenuuting circumslunce�. Ilorrower tihall n��t rummit wusle ur Je�tr��y,dumage or subslentinlly chunge `
<br /> . : „e the Property or ullow thc Propeny t�►�kterfura�c, rco�onuMr wrur und tc+�r�xccptcd. Lcndcr muy inspecl the Property if the f
<br /> � ^ � � Property is vacnnt or ubundoned or thc loan i�in defuuli. Lrndrr muy�uke muconuble�+ction to protect and preserve such __
<br /> � vacant or abandoned Property. ficxmwcr,hull •rl�n tn in dcfuult it' Hurci�wcr,Jurin� �hc luun upplicmion praceKS,guvc
<br /> �� � , muteriull� fulxe c►r inuccurute inti�m�ution or ,tutrmcn�. tu I.cnJrr (ur fuilcJ to pruviJe Lcnder with uny muteriul �`'
<br /> . I informnt�on) in P nn�ction with�e�o�m e�i�kn'rJ I�y�hr Nutr, inrludinE.but no� limited to,representutions conceming
<br /> Borrowerk accu une of the Pru rt .�+u rinri »d rr+idrnce. If ihi. tircurit lu�ln�ment is on u leutiehold,Bcirrower shull �,
<br /> . comply with the prov�sions of�he Icu�c. II linrcawrr ncyuirc+ tec till���i�hc I'ru�x ny.Ihc leaxehold und fce tide shull not
<br /> be merged unless Lender s�grcrx w thr mrrgrr in wriliu�;.
<br /> • 6. Charges to Borrower and{'rotectfon uf Lender'x Rikhh in Ihe Property. li�mowrr shall pay ull guvernmenlal �
<br /> or municipul rharges,tinrx und imp�.itiun�thul orc nu�mrlu�lyd m I's►ruµruph 2. k3arn�wcr+hull pay thc�c oblig•rtions on �
<br /> + .. time direcUy tu thc enlily which i.��weJ the perymrni. If li�ilurr a� pay ��aulJ .�dver.cly al'frct l.ender's intercst in the -
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<br /> �. Prnpe:rty.upon Lcndcr's rcyucst liurzuw�r.hull�,rum�rtly I urni�h iu LrnJrr rcrript�rviJcncing th��c payments.
<br /> ' If Borrower foik k� muke �he�c pirymrm� or�hr paymrm. rcyuir.d hy lhvu}:ruph 2, or fuilz to�ur�orm uny other �
<br />..--� -- -'�!---�----- '-- -=----' rnvannnfn und uomnrtu�nl�rnntuinod in Ihi�trrurilV Indruu�ent UI'I�la`h'1\9Il•lLI[7flLLl`l`d111L II1:II O1:IV ti1LI11fIliU1�IV IIfII'CI �
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<br /> i Lendcrti rights in the Pro�rty (wch u�a pnxrcJin�: iu hroikruplr�. tirr rauJrinniiliun ��r tu rnl'urcc Iawn ur regulution�►, �
<br /> - .---- - -__.._ _ then Lender muy do und puy whatrvcr i,nerr.,ary a►pnnrr�thr v,due��I IIk�1'rn�xrl�+md I.rnder�nghtti m thc Nmperty. �
<br />' � including puymem of wxex.huinrd imuranrr umt��d�rr itcm,mrnliun�•d in 1liragraph_. :
<br /> Any umounls disburxcd by l.cnJrr midrr thi.Pcir�iFru�d�.hull Ix•run►r,u► ,�JJitumul drht of[3urruwrr unJ Ik .rrurcd �
<br /> ;�, by this 5ecurity Inswment. Thcsc amoums�hull Ixrar nurn+t frum Ihr diuc��f ditihurxmrnt,ut Ihe Notc rutc,und ut thc �
<br /> option of Lender,shall br immcdiutcly Ju�anJ�uiyuble.
<br /> _""_` 7. Condemnatlun. The pa�rreJ��d uny uwurJ ur rluun tur danuiHr.,dir.�r�ur nmx��ucnUUl,m connecuon wuh uny i
<br /> ' ' cundemnution or other tuking ot uny pun uf the 1'ro�rly,nr tur cun.evime�•m pl:�rr ul cuudenmution.an:hen�by a�signeJ �
<br /> ' • nnd shall be puid tn LenJcr a�the extcnt�►f thr full umuun�ul thr mdrhtrJnr�, Ui��� irnu�m.�mpuiil unikr thr Note unJ thi�
<br /> 5ecurily lnstrument. LenJcr+hull upply wch prcx•eed+lu thr rrducuui���1�he uidrhtrdn�..undcr the Nuie und this Security
<br /> " � Inslrument. frst to uny Jelinyucnl amount, u��plird in tlir �nJrr �nuvidrJ u� P�uu�:r�q,h ;. nn�1 thrn ti,propuyment uf '
<br /> " principul. Any upplicution of the pnxecd. io the principal tihnll nu� r��rn�l ur �x„t�Hm� �hr elur datc oF the monthly ;
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