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<br /> �r�"' If the amounts held by L.ender for Escrow Items caceed thc amounts permitted to be held by RESPA, Lender � �:�;':;` '� ����
<br /> ""� s6a11 account to Borrower for the excess funds as required by RESPA. If the amounts of funds hcld b Lcnder at an +�?���`--
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<br /> time are not suffictent to pay the Escrow Items when due. i.ender may notify the Borrower and require Bohower co ,1'�_��=-.1
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<br /> make up the shortage as permitted by RESPA. '?*�=-'--
<br /> � The Escrow Funds are pledged as additionul securiry for all sums secured by thls Secnrity 6nstrument. If =- —
<br /> ' Borrower tenders to Leader the full paym�nt of all such sums, Bonower's account shall be credited with the balance _
<br /> � rewaining for all installment ittms(a). (b), and (c)and any mortgage insurance pnmium installment that I.endcr has :<��..
<br /> , ror become obli gated to pay to the Secretary, and I.ender shall promptly nfund any excess funds to Borrower. �;':�=_-.
<br /> i Immediately prior to a forxlosure sale of the Property or its acquisition by L.eader, Boaower's account shall be �-.--
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<br /> : cralited with any balance remaining for all installments for items(a).(b).and(c). --
<br /> �,•� 3.Applicatlou oi PAynients.All payments under paragraphs 1 and 2 shall be applied by L.ender as follows: ��
<br /> ,; �,to the mortgage insurance premium to be paid by L.ender to the Secretary or to the monthly chazge by tbe
<br /> ' ' ead of the manthl mort a e insurance remium; �.,~�
<br /> � Sxretary uist Y 8 8 P t°-
<br /> . • '� ��,to any taxes,special assessments, leasehold paymenu or ground rents,aad fire, flood and other hazard
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<br /> ,,:�° iasurance premiums,as requirai; � ----
<br /> � °`'��? �,to interesc due under che Noce; �����
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<br /> Founh,td amonization of the principal of the Note; and
<br /> �� �,to late chazges due under dze Note. —
<br /> 4.Flre,Flood itnd Other Hazard Iasurance. Borrower shull insure all improvements on tLc Property,whether �"
<br /> now ia existeuce or subsequemly erected,ageinst any hazards,casualtfes, and contingencies,including fire,for which — —
<br /> � Lender requires insurance. This insurance shall be maintaiaed in the amounts and for the perIods that I.ender _
<br /> -= r�:i,zs. �.rmwcr sh«ll�:�c ias;::� all improvement�an the Progtrr;, :tihsthzr no� lA�.s±cr�nrP nr ciih�ec�uentiy
<br /> erected, against loss by floods to the eatent nquired by the Secretary. All insurance shall be cacrIed with companies
<br /> � approved by Lxader.The insurance policies and aay reaewals shall be hcld by L.ender and shall include loss payable
<br /> � � �� dauses in favor of,and in a form acccptable to, Lender. °
<br /> '�� In the event of loss,Bonower shall give Lender immedlate noticc by mail.Leader may make proof of loss if not
<br /> mad�promptly by Borrower.Each insurance company concemed ls hereby authorized and directai to mak�payment
<br />- � for cuch loss dircetly to Lender, instead of to Borrower and to Lender ioindy. All ar any part of the insurence
<br /> . �� � proceeds may be applied by Lender, at its optioa,either (a)to the reduction of the indebtedness under the Note and ��{�
<br /> . this SecurIry Instnw�ent,first to any delinquent amounts applied in the order in pazagraph 3,and then to prepaymont _
<br /> of principal, or (b) to the restoratlon or repair of the damagsd Property. My applicadon of the procads to the
<br /> ptiacipal shall not extend or postpone the due date of the montWy paymenta which are refetred to in paragraph 2,or
<br />�:> • . change the amount of such payments. Any excess insurAna proceods over an azaount required to pay all outstanding
<br />`' � ind�btodness under the Note aad this Security Instrumcnt shall be paid to the entity legally entided tbereta.
<br /> 'A' *�' In the event of foreclosure of this Secudty Instrument or other uausfer of tide to tha Property that extinguishes
<br />- � ' tde indebtedness, all r3ght, title and tnteresc of Borrower tn and to insurance policies in force shall pass to the
<br /> � purc6aaer.
<br /> S. OccupAncy, PreservAtion,Maintenonce and Protection of the Propetty; Boerower'a Loon Applicxtton;
<br />�= :� Leaseholda. Bonower ahall occupy, establish,and use the Property as Borrower's principal residence within sixry =
<br />�,�'�• days after the execution of this Security Instnunent (or within sixry days of a later sale or transfer of the Property)
<br /> J`', and ahall continue to occupy the Properry as Honower's principal nsidence for at least one year after the date of =
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<br /> occupancy,unless Lender determines that requirement will cause undue hardship for Borrower.or unless extenuating
<br /> :,.••-' � . circamstances exist which are beyond Bomower's control. Borrower shall notity Leader of anv extenuating --
<br /> �' �+• circumstances.Borrower shall not commit waste or destroy,daznagc or substantially change the Property or allow the — _
<br /> ° Property to deterlorate,reasonable wear and tear excepted.Lender may inspect the Properry if the Properry is vacant `—
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<br />' or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve sucd vacant or - - �'
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