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<br /> If the amounts held by Lender for �serow Items exceed the amowtra�ermitcr.d to be held by RESPA, Lender
<br /> shall account to Borrower for the excess funds as required by RESPA. IF the amounts of fiuids held by U;nder at nny
<br /> � � � ,.�� time are not sutficient to pay the Escrow Items when due, Lender may notify tlm. �urrovrer and require Darrawer ta
<br /> �� i make up the shonage as permittcd by RESPA.
<br /> � Thc Escrow Funds arc pledged as additional security for all su�rea sscured by this Securicy Instrumcnt. [f
<br /> Dorrower tcr.ders to Lender the full payment of all such sums, Barrower's accounc shall be credited�vith tho b�lnncc
<br /> rema�ning for all installment items�a), (b),and(c)and a�ry mortgage insurance pr�.rtuum installment that l.ender hns ;� :�
<br /> not become obligated to pay to the SeCretary, nnd L,endcr shall promptly refund ar�y excess funds to Bo�ro�ver. ,�r;
<br /> • lrtunediately prior to a foreclosure sale of the Property or its acquisitic�n Ml Lend�r, Aurrawer's account shnll be .
<br /> � credited with any balance remaining for all installments for items(a),(s�., and(c).
<br /> 3.AppilcAtion ot Poyments.All payments under paragraphs ll and�2 sl�alE 6e apnlied by Lender as folla�vs: ,,.;,:,.
<br /> „ �(,ro the mortgage insurance premium to be paid by Lender tQ thc Secretary or to the monthly char�a by thc :.��'=
<br /> " �" Secretary instead of the monthly mortgage insurance premium: '.:
<br /> �j Second, to any taxes, special essessments,icasehold payments or gn¢�uncb rent�,aad fire, flood and othar hazard ..,.�;
<br /> ��• insurance premiums,as required: ' '
<br /> ' Third to interest due under the Note; ...�_
<br /> �� �ou �, to amortizution of the principal of the Plote;and �'c���+
<br /> ' i�f t to late chazges due uader the Note. • .;_�-
<br /> 4.�^e.F1ood und Qther Haza�d Iasurance. Bonower shall incure at�Improvemants on the Property,�vhether �°i'--�
<br /> " ' now in existence or subsequendy erected,againse any hazurds,casuulties, aud continBencies, including fire,for tivl�ich :,;=���`
<br /> �, Lender rcquires insnrance. This insurance shall be maintainesi iu �c amouuts and for tlie periods that Gender ;�°=_�
<br /> '�raui�_`-.
<br /> requires. Borrower shall also i�nsure all impmvements an the Fropeny, wi�etiier aow in existeace or sub&equendy �� .;�
<br /> � � erectecl, against loss by flnods to the extent required by the Sccr�tary.AIQ ulauraacc sh�ill be carried with companies _ L_.
<br /> aPProv e c�by i.cnder. T'ne insurance po licira a�i s a,iy cc,�c:��is s h a;€u e h�.d�y L,°r.�s;:�d�::s l:^�lu d e!c»�p a;a t s l�
<br /> ° clavses in favor of,and in a form acceptable to.L.ender. '
<br /> • ln the event of loss,Borrower shall give Lender immedtata natace by mail.Lender may make pronf of lase if not � ':—_.
<br /> ` made promptly by Borrower.Each insurance company concericied is heretry auticorized and directed to mako payment �
<br /> • far. such loss dirccdy to Lender, instead of to Borrorver and cm L.endar joindy. AA or any part of the insurance �:��:
<br />, .. prs�ceeds may be applied by Lender, at its option, either(a)tm tho reduction of the ircdzbtedness imder tho Nota and `�
<br /> this Security Instrument.first to any delinquent amounta appliud ia taQ orcler ui psiragraph 3, and then to propnyment E��
<br /> of pdncipal. or (b) to the restoration or repair of the dauiuged Frope►�ty. Any application of the pinceeda to the r.
<br />_ , . . principal shall not extend or postpone[he due date of the manthly puy�nent�which are referred to in par.j�npL 2, or R- .
<br /> •�>;,, change the amount of such paymenu. My eacess insnrance pi+�ceedu oaer an unount required to pay ull outatandiug �
<br /> ��.�:;�� inclebtedness under the Notc and this Securiry Insmtment slinit he guid to che entiry 1¢gally entitled thcreto. �`�
<br /> �� �F'�1�� , [n[he event of foreclosure of this Security Instrument or other tranufer of tide to die I'roperty chat extinguishes �'�
<br /> '�'� ' the indebtcdness. all right, title and iaterest of Eorrowar ln and to inourance golicie.g in force shaU pnss to the 6_.,
<br /> -�7 •'. � purchaser.
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<br /> _� �.;,�a,�;_, 5. Occupancy, PreservatYon� Metntenanee and PeotectEon o[tEea Frapert;y;�orrower's Loau Appltr,�CEcem;
<br /> �_ ��.'j��,?��,;:, Lepsel�olds. Borrower shall occupy, establish,and use the Fropetty a� Lornflwer's principnl residence wltl�lt� yia:�y
<br /> �� ��5�' days after the exocution of ttus Secueity Ineuument (or within si:cty duy3 of a later sale or transfer of the Property) __
<br />-_ " ' �e. an3 shall continue to occupy the Property as Borrowcr's principnl residence for at least one year after the date of - - _ .
<br />-- ° occupancy,unless Lender determines that requimment will cauce undue�ardahip for Bonower,or wiless extanunting
<br /> �;;_-;.;:'..,;, zircurastances exist which are beyond Borrower's coutrol. Haaower shall aotify Lender of any extenuatin� ..
<br /> °'� ' circumstances.Bonower shall not commit waste or destroy,dam�ge or substautially change the Properry or�llnw ehe •� '•
<br /> � Properry to dcterlorate,reasonable wear and tear exceptcct. Lender mny incpect ti�e Froperty if the Property Is vzcanc t,'.'�:'.,?
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<br /> ' �^ or abundoned or the loan is in default. Lender may ta[ce rr.aronable action to protect and preserve such vncant or °�.R-=
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