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<br /> � Lender mey, at any time,collect and hoid emounte tor[scrow Items In en aggregate nmount not to exceed the meximum
<br /> smount that mey be requYed tor BoROwer'a escrcw account under the Real Estde Settlement Procedures P,ct of 1B7A, 12 U.S.C.
<br /> �2801 �s_eg.and Implomontinp regul��lona,24 CFR PaN 3500, es th�y may be amended trom time to tlme('RE9PA"�, except
<br /> thet the cushlon or resave pennitted by RESPA tor unenticlpatod dlsbu�semants or dlsbureomenta before the Borrower's
<br /> payments ere avnitablA in Ihe eccount mny not be based on a�nounte due tor the moRgage Inauranco premium.
<br /> Ii the emounta hdd by Londer tor Eacrow Itemn exceed lhe amounts pemrtted to be hdd by RESPA, Lender shnll account
<br /> to Bortower for the excess tund� ae requlred by RESPA. It ihe emounts o1 funds hdd by Lender at any time ere not sumclent to
<br /> psy the Eecrow Items when due, Lenda may noUty the Borcower and requlre Bor►ower to make up the shortage ss peRnitted by
<br /> RESPA
<br /> The Eacrow Funds ue pledged aa addiUonel securlty for all aums aeo�red by lhfs Security Inctrument. II Bonower tenders y „_
<br /> to Lender the full pnyment oi all auch sums, Bartower's account shall be credted with the batence rernalning for aA installment '
<br /> items (a), (b), and(o) �nd any mortgage Insurunce premlum Installment that lender has not become obligeted to pay ta the
<br /> 3ecretery,and Lender slull prompty refund eny exceao funds to Borrower. Immediatoly prlor to a foreclosure sale of the Property
<br /> or Its acquisftlon by Lender, Borrower's account ahall be credited witt...,�y balence remalning tor all instellments tor Items(a), (h), �
<br /> and (a). �
<br /> 3.Applieetio� of Parym�nts.AN Davmertts uRder�'ra9rav��9� ��d 2 shsl! be appAed by Lender as follows: �
<br /> Firat,to the mortg�ge insurartce preYttium to b�pa6cl by Lender to Iha Secreitnry or to the mnnthly charge bN the Secretery
<br /> Instead of the monlhly mort9e9e insuanca premlum;
<br /> Seeond, ta any laxes, special nsseasments, leasehold payrnents or ground rents, Ancl ilre, fl�ad �n� other hsizard
<br /> Insuranca premiums,as requlred;
<br /> Thirc�,to inte�est due under tha Note;
<br /> Fourth,to amortluUon of tha principal ot the Note;and
<br /> Flith,to tate charges due under the Note.
<br /> 4. Flro, Flood and Other Wazprd Insuranae. eorcower shaA Insure all Improvements on the Propeity.whether
<br /> now in exlstence or subsequently erected, against any hazards, casualUes,end contingencles, Including flre, tor whlch Lender
<br /> requires insu�nnce,Thla Insurance ahall be maintalned in the amoue�ts and fa the pe�lods that Lender requlres. Bonower shell
<br /> also Insure ell improvemante on tha Propaly, whether now in exlstence or subsequently erected, agalnst loss by floods to the
<br /> extent requlred by the Secrotary.All Insu�ance shall be cartied with companla epproved by Lende�.7he Insurance policies and
<br /> eny renewals ahaY be held by Lender and shall lnclude loss payable clauses In isvor of,end in e fortn acceptablo to, Lender.
<br /> In the event of losa. Borrower shali pNe Lender immedlate noUce by mail. Lender may mako proof of loss if not made
<br /> prompUy► by BoROwer.Each Inaurance company�oncemed Is hereby autho�zed and dkected to make payment tor such loss
<br /> directly to Lender,insta�d of to Bortower ind to Lender Jolntly.All or any part of the insurance proceeds may be appi*edAby
<br /> Lender, at hs optbn, dther(a) to the reduetlon of the Indebtednesa uncter ine Noio and it�is Securl:i Is�tsussttts� tu°• •- -nY
<br /> delinquent amounts appYed In the order In Paragraph 3, and then to prepayma�t of principal,or(b) to the reatoratlon or repalr ot
<br /> the dameged Proparty.Any epAllcation of the prxeeds to the principal ehsll not extend or postpone the due date ot the
<br /> monthly paymants wlYch ue referred to h Paragreph 2, or change the emount of such payment6. My excess Inaurance
<br /> proceeds over an amount requked to pay aA oulstending indebtednoss undathe No4e and th(s Seouriry Inatrument shaY be pald
<br /> to the ent(ty legaly enNtled thereto.
<br /> In tho event of toredoaure ot this Secudty Instrument or other trensler of tftie to the Property that extingulshes the
<br /> Indebtednesa,aY dght,Ude end interest of Borcower In and to inaurance p:Ades h torce shaH pasa to the purchaser.
<br /> 6. Ocaupanay, Pns�rvatlan, M�intenanco and Protectlon of tha Prop�rty: Borrow�r's Loan
<br /> AppliCMtlon; Lssit�hdds.Bortower ehall occupy,establish, and usa Ne Property as Borrower�8 ptinciPsi realdence wkhln
<br /> slxty daya atter the execuUon of thts Securily Inatrument(or withln slxty days of a latcr sate or tansier of the PropeKY)�^unleas
<br /> continua to occupy the Prope�ty es Borrower'a princlpsl resldence ta at leaat one yesr �fter the date oi occupancy.
<br /> Lnndet det�m►ines thri roqulrement wi11 cause undue herdship for Bortower,or unless axtenuating circumstences exlst whlch are
<br /> ' beyond Borrowers control.Borrowe�shaN notHy Lender of nny extenuatinq dreumstancas. Bortower shall not commit weate or
<br /> desVoy, d�ms9e or subaUntleNy change the PropeAy or allow the Properly to deterlorate, rcasonable we�r and tear axcepted.
<br /> Lender may Inspect the Property It the Propeity io vacant or abandoned a the loan Is in det�uit. Lender may leke roisomble
<br /> action to protect end preserve such vacant or nbandoned Propaiiy.Borrowa shaM also be In defauit if Bortower,during the loan
<br /> �ppNcRUon proc�ss, ave materially talsa or inaccurate Intormation or statements to Lender(or tailed to provlde Lender with any
<br /> matorlel ktlom�aUon) In connecUon wRh the loan evldenced by the Note, induding, but not Nmked to,repreaentatlons conceming
<br /> Borrower's occups�ncy of the Properly es a prh►dpal residence. If thls 3ecurity Instrument Is on a Ieasehoid, BoRUwer shail
<br /> comply wkh the provlsfons of the lease. If Flor►ower acquires tee tille to Ihe Properiy, the leaaehold and fee tflle shall not be
<br /> merged unless 4ender egrees to the metger in wr1►kig.
<br /> 6. Cond�mn�tl�un. The proceeds of eny award or claim for dameqes,diroct or consoquenUal, (n Connection with eny
<br /> ' condemnntlon a other teking of any part ot the Properly. or tor conveye!nce in place af condemnatlon, are hereby assigned and
<br /> � shaN be pald to Lende►to the extent of the fuu amount of the indebtedness that remaina unpaid under the Note and this
<br /> � Security InsWmtnt. lersder shnll eppty such proceeds to the reduction of the Indetdedneso under ihe Note and this Securiry
<br /> Insitument,flrst to eny deYnquent emounts applted in the order provlded In Paragreph 3. and then to prepayment of principal.
<br /> qny applieatlon of the proceeds to the pdncipal shall not extend or postpone the due date o1 the montfily paymenta,which are
<br /> '— referred to in Peragreph 2, or change the amount oi such paymants. Any excess proceeds over an emount required to pay all
<br /> outstending Indebtednesa under the Note and thia Sacurity Insirument sha9 be paid ta the eMily IegaNy eMitled thereto.
<br />-� T. Charpes to Borrower and Protection of Lendor's RigMs in the Praparty Bonower snau pay all
<br /> -- govemmentel or municipal eharges, flnes and Impositiona that ere not Mcluded In Paragreph 2. Borrower shaN pay lheae
<br /> -- __.,......�,... L.,...�etio.,o�manc It taiura to aav would adversely aflect Lender s fnterest in
<br /> _ obllgeSlona on uma duai:iry w ii�o��...� ......... ..._..__ _._ ,.-,-
<br /> �° the Properry, upon Lmder's request Bortower shail prom,�tly tumish to Lender receipts evidencing these paymenta.
<br /> ' If Borrower falls to make these payments or the payments requlred by Paragraph 2, or talis to perfottn any other covenants
<br />-_� and agreementa contelned I� this Security InsUUment, or there is a Iegal prxeeding that may signlficantty aHect Lender'c dghts In
<br />_�,� the Properly (such es a proceeding In bankruptcy,tor condemnatlon or to enforce laws or regulations),then Lender may do and
<br /> pay whstaver Is necessary to protect the value of the Properry end Lenders dghts In the Property. Including payment of taxes,
<br /> hererd Insuranco and other items mentloned In Paragreph 2.
<br /> F5913.LM0(9/96) Papv 2 0�5
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