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<br /> :;.,,,,;:•%�t'� If the�►mounts hald by Ltnder for Escrow Items exce�ed thc acnaunts permitted to be held by RESPA, Lendcr
<br /> �.�,F.-��►' shall account tn Borrower for the excess funds as required by RESPA. If thr amounts of tunds held by Lendcr at any . .
<br /> tlme�re not suftciene to pay the Escrow Items when due, Lend�r m�y notify the Borrower and require Borrower to ,_
<br /> make up the shortagc as permitceci by ItESPA. -
<br /> � � The Escrow �undn are pledged as additional securiry for all sums secured by this Security lnstrument. If , °
<br /> ' ` Bonower tenders to Lender the full payment of aU sucl�sums,Borro�vcr's account shnll Ue credited with the balance , .-
<br /> �'� remaining for all installm�nt items(a). (b), and(c)und any mortgage insurance prFmium installment thut l.ender has �`�x-
<br /> ' i�! not become obligated to pay to the Secretary, and Lender shaill promptly refiind any excess funds to Borrower. ;�-
<br /> Immediately prior to A f�reclosure sale of the Property or Its acquisiQon by Lender, Bonrowee's account sh�ll be �_�'
<br /> _� credited with any bnlance remaining for all installments for items(a). (b). and(c). ,'���
<br /> 3.Applicatton oi Payments.All payments under paragraphs 1 and 2 shall be applied by Lend:r as follov+s: ��;��,,
<br /> ir ,to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly charge by the �-u°=
<br /> Secrctary instead of the monthly mortgage insurance premlum; _�.�
<br /> Second,to any taxes. special assessments,leasehold payments or ground rents, and fire,flood and other hazard ';,,-,:..
<br /> . . insurance premiumn,as required; -
<br />� Third,ro intereat c�ue uader the Note; „ .--
<br />_ Founh,to amort'u�atian of the principal of the Note;and �x''
<br /> s• �.ta late charges due under the Note. - -
<br /> ' ..r� : 4.Fire,Flood and Other Hazord Insurance.Bonower shall i�sure all improvements on the Propert�r,whether
<br /> . • �..���{.'���: now in existence or subsequcndy erected,against any hazards,casualti�s. and contingencies,including fire,for whioh ��_
<br /> Lender requires insurance. T4is insurance shall be maintained in the amounts and for the periods that Lender �••�
<br /> � requires. Borrower shall also insure all improverneats on the Property, wheWer now in existence or subsequendy �:
<br />= ` erected,ag:stnst loss by floods to the extent requircd by the Secretary.All insurance shall be carried with companies =_
<br /> • appmved by Lendec.The insucance policies and uny rene��als shall be held by I.ender and shall incfude loss payable F
<br /> , clauses in favor of,and in a form acoe�table to,L.ender. _
<br />`„ In the�vent of loss,Borrower shall give I.ender imcnediate naticx by mail.I.endsr may make proof of loss if aot R
<br />-�� made prompdy by Eorrower.Each insurance comp�ny concemed is hereby authorized and directed to make payment �-
<br /> - - for such loss direcdy to I.ender, instead of to I3ocro�ver and to L.ender Joindy. All or any pan of the insurance e'
<br /> r".`�"-t�..�,�:! � proceeds may be applied by Lender, at its optIon,eiWer(a)to the rcduction of the indebtedness under the Note and `-
<br /> ��'�'' this Securiry Instr�meat,first to any delinquent amounts applied in ttn order in paragraph 3, and then to prepaymeat °
<br /> - � ^'��• , of princlpul. or (b)to the restoration or repair of the damaged Prop�rty. My application of the procads to the `
<br /> y�" �. ���� principal chall not extend or postpone tLe due date of thc monthly payments wh[ch are refetred to in paragraph 2,or �
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<br /> ;.�;,,� change the amount of such payments. Any excess insurance procetds over an amaunt required to pay all outstunding
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<br /> „v..,r.,3�' . indebtedness uuder the Note and this Securiry I��suument shall be paid to the entity legally eatitled thereto.
<br />�"�`"'�`"------ In the event of foreclos�ure of this Securiry Instnunent or other transfar of tftle to the Propccty that extinguIshes •
<br />��`'"� the indebtcduess. all right. tide and interest of Borrower in and to insurance policies in force shall pass to the °=—
<br /> :P,rair�r..,. ' �'-
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<br /> y�:��Ati°•,.:�,.: S. Occupnncy,Preservotfon,Mninten�nce and Protectlon of the Praperty; Borrower s Lostn AppltcAtioa;
<br />��`"�:�`'�'� Le�te6olds. Borrower shall occupy, establish. and use the Property as Borrower's prIncipal residence within sixty ��
<br />"�'';��'?},� days after the exorucion of this Security lastn�mene(or within sixry days of a later sale or uansfer of the Property) -
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<br /> �.,,,;,� and shall continue to oceupy tha Praperty as Boaower's principal res[dence for at least one year after the date of _
<br /> --�---- occupancy.unl¢ss I.end�r deter�nines that requirement will cause undue hardship for Bortower,or unless�atenuating =-�=--
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<br />- �_-.y� circumstances e�ist e�ituch ate beyond Borrower's control. Borrower shall notify Lender of any extenuating
<br />_��'�^�'�� - c�rcumstanccs.Borrower shall aot commit waste or destroy,damage or substantixlly chunge the Property or allow the ���,...
<br />�?`�'�� � Prope�y to dcterIorate.masonable w�ar and tear ezcepted. I,ender may inspect the Property if the Property is vacaat �•
<br />-�`..�� or abandmned or the loan is iu def�vlt. Lender may take reasor.��ble action to protect and preserve such vacant or '__
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