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<br /> ! 97_. 1069��. �- ���`���
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<br /> 2'��' lf thc amoun[s held by L.ender for Escrow Items cxcced thc amounts permitced to be held by RESPA, I.endcr •�!'�`•`�,r� .•+�.=_
<br /> shall account to Borrower for the excess funds as required by RESPA. If the amounts of funds held by Lender at any __-
<br /> time are not sufficient to pay the Escrow ltems when due, l.ender may notify the Bonower and require Barrower to : .��'r�'.�,:;,'�"'__
<br /> make up the shortage as pernritted by RESPA, ' «�d�.��,==-
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<br /> 1'he Escrow Fiu�ds aze pledged as additianal security for all suuu secured by this Security Instrumeat. If y,,.;��_•�°
<br /> . Boaower tenders to Leader the full payn�ent of all such sums,Bonower's account shall be credited with the balance � °`5:�
<br /> remaining for all iastallment Items(a), (b), and(c)and any mor[gage insurance premium installment that Lender has • ,"�.;,�_
<br /> not become obligated to pay to the Secretary, and Lender shall promptly nfund any excess funds to Borrower. , �',�'"_-�—
<br /> '. I�liately prior to a forecloswe sale of the Propeny or its acquisition by Lender, Aorrower's account shall be �-����,�;=
<br /> credited with any balance nmainiug for all installmeats for items(a),(b),and(c). �'�+�;'`y;l
<br /> �� 3.Appllcatloa ot Paymeats.All payments under paragraphs I and 2 shall be applial by L.ender as follows: .,__����
<br /> �,co the awrtgage insurance premium to be paid by Lender to the Secretary or[o the monthly charge by the ��.�°x�,�
<br /> Secretary instead of the montWy mongage inswance premium; `�``—
<br /> S,�g�¢,to any taxes,special assessments,leasehold payments or ground rents,a�nd fin,flood and other dazard ?�°s�y�iir,•-
<br /> insurance pnmiums,as raquired; ,,'`t�;;.;,
<br /> • Thlyd,to interest due under the Note; �•j�':
<br /> � Fourth to amortization of the principal of the No[c; and t�%'
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<br /> '�ft ,to late charges due under the Note.
<br /> '` 4.Fire,Flood and Other Hazard Insuroace.Borrower shall insure all improvemenu on the Property,whether ---
<br /> �� now in existence or subsequently erected,against any hazards,casualties,and contingencies,includiag fire. for which _
<br /> _ LtIIilti rtip�;_*tc IILUT2IIC!`. 'I'h9S Ins4t�*lrr ghall M' m?�n?aine� in th� �mrni�tc an�i fnr �� �r�ic �a� Ir_.��iti
<br /> requires. Borrowcr ahall also insure all improvements on tht Property, whether now in eaistena or subsequently
<br /> erected, against lass by floods to the eatent reguirai by the Secretary. All insurana shall be carried with companies ��•
<br /> approv e d by L en der. T he insurance po l icies an d any reaew a ls s h a l l b e he l d by L e n der a a d s h a l l inc lu de loss paya b le [
<br /> clauses in favor of,and ln a form acceptable to,I.ender. ��
<br /> ' In the event of loss, Bonower shall give Lender immediate notice by mail.Lender may make proof of loss if not ��
<br /> made promptly by Borrower. Each insurance company concemed is hereby authorized and dirocted ro make payment -�
<br /> ' for such loss directly to Lender, instead of to Borrower and to Lender joindy. All or any part of the insurance = -
<br /> proceeds may be applied by Lender,at its option,either(a)to the reduction of the indebtedness under the Note and
<br /> this Security Instn�ment, fust to any delinqueat amounu applied in the order ia pazagrnph 3,and then to prepayment -�—
<br /> , of principal, or (b) to the restoration or repair of thc damagcd Properry. Any application of the proceals to the � �
<br /> principal shall not extend or postpone the due date of the montlily payments which are nferred to in puagreph 2. or
<br /> ' change the amount of such paywents.Any exass iasurana pmc�eds over an aznount nquired to pay all outsteading
<br /> ' indebtalaess under the Note and this Security Instnunent shall be pald to the entiry legally endtled theroto. _
<br /> • In the event of foreclosure of this Security Instrument or other transfer of ude to the Property that extinguishes � __
<br /> - . the iadebtedness, all rlght, title and interest of Borrower in and to insurance policies in force shall pass to the �,��
<br /> , • pnrchaser. --
<br /> - 5. Oocupancy, Pteservation, Mnintenance and Protection ot the Rroperty;Borrower's Loan Appl(c�tion; �•_�_
<br /> Lmseholds. Bortower shall occupy,establls�, and use tha Properry as Borrower's principal residence within siary �6;=
<br /> Y` , days after the execution of this Security Insm�ment (or within siaty days of a later sale or uansfer of the Property) �:;:_
<br /> z� ' . and shall continue to occupy the Prnperty aa Borrower's principal resideace for at least one year after the data of
<br />� � ' accupaacy,unless Lender determines that requirement will cause undne hardship for Horrower.or unless eatenuat�ng ;rl„:
<br /> „ circumscances exist which flre beyond Borrower's conuol. Borrower shall nocify Lender of 1ay eateauating � = =
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<br /> circumstaaces.Borrower shall not comm.it waste or desaoy,damage or substantially change the Property or allow the :4--i--�-�
<br /> ' Properry to deteriorate,reasonable wear and tear excepted.I.�nder may inspect the Property if the Property is vacanc ��•=�,��;:�:-
<br /> ' or abandonal or tlu loan is in default. Lender may take reasonable action to proiect and preserve such vacant or ., �3�;,4�, �y.
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