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<br /> �-�� If the amouncg hcld by Lcndcr for Escrow Items cxcecd tho nmounts P��nit►�to bc held b�RES�C�����t1811 _
<br /> ..�*�'' account to Hoaower tor tha excess funds as requucd by RESPA. If 1he amou�is of funds hcld by Lender al any timo _
<br /> � ^���•�'"''� arc not sufficient to pay the Escrow Itcma when duc,I.cndcr may nodfy thc Horrowcr and require Borrower a make up
<br /> thc shortegc av permiucd by RESPA. —.�-
<br /> The F.scrow Funds are pledgcd as addiuonnl securiry for all sums secured by Ihis Security Instrumen� It Boaower �,-_
<br /> s' tenders to 1.ender the fuA payment of all such sums,Borrawer's occount shall be credited with the balence remaining for `:_
<br /> � al! installmenc items (a). (b). and (c)end any moctgage insurance Pre,�r►ium instailment that I.ender has not become
<br /> � obligated to pay w the Secretary,od i��uis uonrby Lender,Borrowcr's account hall be credited wi�any balance �,
<br /> .,� a foreclosure sale of ihe Property __
<br /> cemaining for all in�tallments for items(a),(b),and(�). hs 1 and 2 shall bc applicd bY L�ender ag foLows- �
<br />' �' 3.Applirxtlon of Payments.All paymenta undcr paragrap or tn the monthly charg�by tha -
<br /> � gj�,eo tha mongage insutance premium w Ue paid by LGtde�to Ihe Secretary �__
<br /> gecretary instead of tl�e monthly moctgag�insivance premium; �'-
<br /> ��� ��ny taxes,special assessments, leasehold payments or ground rents,and fve.flood and oih;.r hazard
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<br /> insurancc premiums,es required;
<br /> � �j�,to intcrest duc
<br /> undcr the Nou; ��'�
<br /> �qy�,ti,to amorti�adon of thc principal of Iha Note;and �::;°
<br /> gj(�,to late chorges duc under the Note.
<br /> 4.Fire,Fbod and Other Hauxrd Insurance.Borrower shaA i�►sure all imProv��on the Pmperty, whethcr ��.
<br /> xisteacc or sub uendy erected,a8einst any harards,cas�alties.er�d continge,�►cles,including Fire,for which �Y~•
<br /> Y now u►e �9 _
<br /> Lender requires insurance.This insurancc shaU be maintained in the amounts and for ihe periods tbat I.enda reqwres. _
<br /> � Borrower shall also insurc all improvements on the Property,whe�her now in existence or subsequcndy erecutl.aBainst _
<br />-. -. ---- loss by floods to the�xcent requireci by aha Sc�xcsar3'•A 12 sn°.�t"s�!att he camed widi comP�►ies approvedby Lender. _
<br /> • Thc insurance policics and any renewals shall be hald by Lender and shall include loss payable clauses in f�vor of.and
<br /> � in a form ecceptsble w,Lcndec.
<br /> ' � In the event of loss,Borrowcr shall givc I.ender immediatc nodce by mail•Lendcr maY make proof oi loss ni for
<br /> . • • made promPdY by Borrower.Each insuruice company concemed is heceby authorized end direcned to make p�Yme
<br /> " . ' sueh loss directly tn Lender.instead of to Bcxrower and to Lender jointlY•�o�any part of the insurance procaods maY
<br />~� .��`' � '� be aPPGed by Ler�dcr. at its option,either (a) to ttie reducdon of ihe indebtedncss under the Nou and ihis Security
<br /> ��r � ••:• h 3,and then to pnpaYmcnt of pit�cipal,or
<br />-��..: . Instcument,fust to any dalinquent amounts applied in thu order in pareB�eP
<br /> ` a,. pn Lcation of the pcoeoeds to d►e Principal stsall aot axtend
<br />+�.•�� .�.^' (b)w the restoration or repair of thc damegcd Propccty. Y 8PP�
<br /> �" �' ' or postpone the due date of thc monthly payments whicM are refecred to in paragcaPh 2,or change the amount of such
<br />- ' •.;:r� ovcr an amount required tu PaY all outswnding indebtedness unda� ihe Note
<br />=x i:�., PaYments.My excess insuratice pcoceeds
<br />;� �r' � and this Sccuriry Insuumenc shall ba paid w ihe entiry legally entitled thereto.
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<br />=�:„,,,,�.:� In d�e event of foreclosuc�e of this Securiry Instrument or othu transfu of tide to thc P�opertY that exdngs�ishes e
<br />_-'.����wc, inctebtedness�oll right,tide and interest of Borrower in and to insurar►ce policies in focr,�shall pass to the purchaser.
<br /> = S. Occupancy,Preservatbn,Matntenance and Protectbn ot the Property; Borrower's Loan Applkatbn;
<br /> Leaseholds. Borrower shaU occupy,estabtish�and use the PropertY a�s Bocrowu's principal cesidence within sixty days
<br /> �',;,���!.,r"�• afcer the execudon of this Security Instrument(or within slxty daYa of a later sale or►rensfer of the Ptopeny) end shall
<br />_��r�� oonunue w occupy tha PropnctY as Bocrow+��s principal residence for ut least one year after the date of accupancy.
<br /> - .r: : *. unless Lender dete,�mines thut requirement wi�cause undue hardship for Bomower.or uniess extenuating c�cumstances
<br />�"''`�L•;.- exist which are beyond Borrowei's control.Borcower sh�ll notify Lendu of any exten�ating circumstanas. Borrower
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<br />'���i}:�-: shall not wmmit waste or destroy,damnge or substantially changu the PropertY or allow the Property W detenocate.
<br />`,'`�`:' ,.' reasonable wear and tear eaccptcd.Lcnder may inspect the Propecty if the Propercy is vacant or abandonod a the loan is
<br /> �- �� � in defaulG Lender may take reasonable action to procect and preserve such vacant or abandon�d Pro�perty.
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