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<br /> ._,.,...• If thc amounts hcld by l.cndcr for Escrow Items cxcecci thc amounts permiUCd to bc hcld by RESPA,L.endcr shall • • 1:,;':.
<br /> w nccount to Sorrowcr for tlic cxcess funds as rcyuired by RESPA. If thc amounts of funds held by Lcndcr at any timc "'•�'��?�.� '""'
<br /> are not sutGcient to pay ihe Escrow Items when due,Lender may nou(y the Borrower and reyuire Borrower to make up ra'�`j�J.'�. �;�t �.�
<br /> the shortage as permitted by RESPA. •°,,i?;`°'�;;.(��,�.'�i
<br /> � •.�.�,.�s.��s�ae�.�_
<br /> 'I7ie Bscrow Funds are pledged as additlonal security for all sums securcd by this Securiry Ins�rumenG If Borrower •.i�—��_-°- --
<br /> tcnders to Lcnder thc full payment of all such sums,Borrower's account shall be crcditcd with the balancc remaining for E�'�"`---
<br /> aU installment items (a), (�), and (c) and any mortgage insurance premium installment that Lender has not become �`-�'--
<br /> obligatcci w pay to the Secretary,and Lcnder shaU prompdy refund any excess funds w Borrowcr. Immediatcly prior to ""�"L�
<br /> a foreclosure sale of the Property or its ecquuidon by Lendcr,Borrower's eccount shall be credited with any balance -
<br /> rcmaining for all installmcnts for itcros(a),(b),and(c). _-_-—
<br /> 3.ApplicAtion of Payments.All payments undcr paragraphs I and 2 shall bc applied by Lender as foUaws: . � ---
<br /> �,to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly charge by the �.��
<br /> Secretary instead of the monthly mortgage insurance premium; '•;*�•,�:
<br /> $�&4pd. to any taxes,special asscssments, lcasehold Paymcnts ur ground rents,and fue, flood and other hazard ���- -
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<br /> � insurance premiiuns,as required;
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<br /> t� �d,to interest due under the Note; __`'�n�
<br /> . 2; Eq�,to amortizstion of the principal of the Note;and '-
<br /> � �,to late charges duc under the Note. '. =' —
<br /> 4.F(re, Flood and Other Hazard Iasurance.Horrower shall insure aU improvcments on the Property,whether 'F� � �''
<br /> now in exutence or subsequenQy erccted,against any hazards,casualucs,end contingencies,including firc, for which �� _
<br /> � Lender requires insurance.This insurance shall be maintained in the amounts and for the pcdods that L.ender requires. -=-
<br /> -. Boi�uwai st��ili aLw u�su�G iill uu�,iuver�ia�i�,un u,a F�u��ty,wliBilici iww i�cni5i8�,�c ui 3LL�/�G((LLCIIUY G[ttilGl�,ug8ii��t �-- -
<br /> • loss by floads to the extent required by the Secretary.All insurance shall be ca�ried with companies approved by Lender.
<br /> 'Ilie insurance policies and any renewals shaU be held by L.ender and shall includc loss payable clauses in favor of,end _ _
<br /> in a form acceptable to,Lendei. _
<br /> In the event of loss,Darrower shall Sive Lender immediete noticc by mail.I.ender may make proof of loss if not
<br /> made promptly by Borrower.Each insurance wmpany wncerned is hereby authorized and d'uccted to make payment for �" —
<br /> such loss directly to L.ender,instead of w Borrowcr and to Lender jointly. AA or any part of thc insurancc procecds may
<br />.� be applied by I.ender,at its opuon, cither (a)to thc reduction of the indebtedness under the Note and this Security R _;
<br /> � Insuvment,Crrst to any dclinquent nmounts applicrl in thc order in paragraph 3.and then to prepaymcnt of principal,or
<br /> (b)to the restorafion or repair of the damaged Property.My application of the proceeds to the principal shall not extend -
<br /> or posq�one the due date of the monthly payments which ere referred to in paragraph 2,or change the amount of such
<br /> payments.My excess insurance procecds over an amount required to pay aU outstanding indebtedncss under the Note -
<br />- and this Securiry Instrument shall be paid to the endty legally endded U�ereto. =
<br />- . _ In the event of foreclosure of thls Securiry Instrument or other transfer of dtle to the Property that extinguishes the -
<br />�1� ' indebtedness.all right,tide and interest of Borrower in and to instuar►ce policies in force shall pass to the purchaser.
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