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<br /> -- f • R�RECORDfA � �----- `
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<br /> • • If the amounts held by Lender for Escrow Items exceed�he amounts pernutted to be held by RESPA. Lender ' ' ,
<br /> . shall aocount to Borrower for the excess funds as requi�ed by RESPA. If the aznounts of funds held by Leader ai any � � -
<br /> � � ` • timt are uot sufficient to pay the Escrow Iteuu w6en due, Lender may uotify the Borrower and tequire Borrower to , - .
<br /> � � make up the shortage as permitted by RESPA. ` . '
<br />: The Fscrow Funds are pledged as addiaonal security for all sums secnred by this Security Instrumeat. If • ,
<br />�. . Borrower teuders ta I�nder the full payment of all such sums.Borrower's account shall be credited with the balance '
<br /> tetnaining fot all i0staliment ite�s(a),(b),and(c)and any mongage insurance premium iastalliueat that Ixnder 6as � . '
<br /> • not bemme obligazad to pay to the Secretary. and Lender shall promptiy refund aay excess funds co Boaower. �.:� �
<br />-= Immediazely prior to a foreclosuce sale of the Propeity or its acquisition by Leader. Borrower s account shalt be :��,`<i.f�'
<br /> creaditod with balance nmainin for all installmenu for items(a).(b).and(c)• '•,�fE���.
<br /> �Y 8 t.;.���,,
<br /> ' 3.ApplIcat[oa of P�yuieMs.AU payments under paragraphs 1 and 2 shaU be applied by I.ender as foltows: �'�f.'�=
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<br /> �to the moagage insurance premiuia to be paid by I.ender to the Secretary or to the monthiy charge by the ,• �
<br />-- ' S�etacy instead of the monihly mortgage insurance premium: � .. , -
<br />-_ • :Second.w any taxes,special asseunaenu.leasehold paymenu or ground renu.and fire.Haed aad other Uazaid s•r � .
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<br /> �. � 'IT�ird,to interest deie�'��r the Note: � . ':��, ,'`;�
<br /> . . E�eurth,w amort�ration��¢he principai of the Note;and .� ,..'""'��`. _
<br /> � � �iftts,to Tar�erhatges d►te under the Note. ,. .
<br /> �.F'�se.L•T,00d:mmd Other fla7asd Iasw�ance.Barmwer shaU insur�ali improvements on tue E�petty.whether �
<br /> • ':�� uaw•in existe�.se or subseque�ty ereaed,against acry hazuds.casualties,a�d con[ingencies.includiag�re.for which '. ' �� . _.�
<br /> . . . �" i:c�rSr� requires ins�srauc� Th#s �n�,•ance shatl be maintained ia the amounts and for the periods thac Y.euder ,� :��,�-�:r�'
<br /> i c�ui�s. Borcower shall also i�nsure aU impmvements on the Property, whaher now in eaisteace or subseq�y ��•�.
<br /> ereaed,agau�a Ioss by floods to the extent required by the Secretary. All insurance shall be carried with companies . -
<br /> . � �agmved by Le�der. Tbe insurance policies and any reneaals shall he hetd by l.ender and sh�ll include loss payable " . ;::��•;�.:'
<br /> . ' daa�s in favor of.and in a form acceptabte w,I.ender. . . ;� •:'�
<br /> Li the event of loss,Borrower shall give Leader immediate notic,e fcy maii.iev�may make pmof of loss if�ue . - "��' =``
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<br /> ma�.e pmmpdY bY Sorrower. Each insurance corapany concemed is b�mUy authoriv�d�d directed to make paymr�t � .;r`;..
<br /> - ' for such lo�s dir.ectly to I.euder. instead of to Borrowet and to L�r,Lx jr�intly. A11 or any part of the insur�ae .. . �:''',
<br />--','. . - prnceeds ana}�t�re a�;plied by Leader,u iu apcian,either(a)to the cad5u�i+rn of the indebtedness aadrr the Note a� :�i:``.`.�'
<br /> ., this Security►*+�*�s^�.fust to aay delinquent amounu applied in the�3er in paragraph 3,and t�os prepayce�nt '�.'.``^°
<br /> �� : ` :..-�. :
<br />•'�,, � �` af grincipal,or @) to the restoration or repair of the damaged Property. Any applicatioa of the proceeds at tf� "�' '. • Y;f,.:
<br /> � • �riucipal shall not extend or postpone the due date of the monthly payments which are referred to in paragragTi Z..� . ' `�
<br /> -:7 . change the amount of such paymenu.Any eu�insurance pmo�eds over aa amount required to pay ati ou[stzd�zca � . .� :
<br /> �; • a� indebteduesg�der the Note and tdis Securi¢y i�suument shall be paid to the enrity legally eatitled ther�a_ �`.;.;!
<br /> _ . In the event of foreclosure of this Secur,r� �nscrwment or other uansfer of tiue to the Property tha�exan,g�[rzs ..
<br /> .�� _ � ds� indebtedness,all right, title and interest of Borrower in and to insurance palicies in force shall pass. �s;��� � .` , ' ."
<br /> j,r�xdias�r. '; �= �
<br />'`}• ��� 3.�..�Servur�na.Maintenance and Ftu2xcttoa oY the Propertyi Bormwer's Loan Applic�'iu� � , ,
<br />=--,- ._ - -:� Leasehoidg. i�r�ru��r shall vccupy.establish. and use ttte Properry as Borrower's principal res's��ce within six:y - - � � .
<br /> ' • days after the�tion of t his Se�urity I n suument(or wi t hin sixry d�G�f a l a t er s a te or��a€t h e P r o p e r ry) � .
<br /> ��� �� � asc,d shall oontinue to occupy the Ropercy as Borrowec's�rrincipal residence for at least ona y�r afaer th8 d�te of � `��'
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<br /> ,�; • occupancy.unless Lender determiaes that requiremeat�Jl.:�:ue undue hardship for Borrower,os antess e�i�g �
<br /> .;; . •• cir�unstances ealst whIch are beyond Boaower's vs�x+�l. Borrower shail notify Ixn@er af �y exc�aiag
<br /> ' c"srcumatances. Borrower shall not commit waste or desuoy.damage or substanrially change the��sm+or allow the � .
<br /> � • i�roperry to deteriorate,reasonable wear and teaz eacepted. Lender may inspect the Propetty if�e C�.r,gerty is vacant � �. . .
<br /> f�; ,,;,,.�r';��.;1;, ., or, abandaned or the loan is in defa�lt. Lender may take reasonable action to protect and preserce such var�c or � �•• '
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