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_. ,,.} _._ __ ) .. � � 201205'�� If the amouats hstd by Leader for Escrcw Items eueed the aanoonts permitted w be held by RESPA� l,eader shal! accouac to Borrower for the exc� fuads as c�equice�l by RESPA, ff the atn�unts of fimds held by L�ender at any time are u�ot suf�cient w pay the F.scrow Items whea due, Lxadsr may notify the Horrower and �equire Borrower to make up the shortage as permitt� by RESPA. T6e Esaaw Ftmds art plalged as addit�oaal socurity for aU sums secut�l by tbis S�urlty Ins�t. If Bon�ower tenders to L�oider tho fnll payment of att such �ums, Borrowet's acxount shall be crcdited witb the balance re�ainiag for all inatallment itetns (a). (b), aad (c) snd anY mon8a8e insntance preminm instellment tbat L.ender has not beoo�e ohli�ed so gay to the See�ry►, aad iender shall prompdy �fund tuay eaoeas fuads w Bonower. Immedistefy prior to a forocl�are sale af the Pmperty or its acqnieition by I�eader, Bocrower's aa�uat sball be cr�edital with azry balauce r+emaining for all installm�ts for itans (a?, N�► and (c). 3. Appll�ioa of Peymeats. All payments under paragraphs 1 aad 2 sball be applied by L,ender as foUows: First, to the s�rtgege ine�uanx premituu to be paid by Leader W ttu Se�retery or to the monthly cbarge by the �cretar�► instead of the manthly mortgage insursnce premium; Second, w any taxes� special ass�a�meata, leaseLold payments or grouad rents, aad fine. flood and oiher La7ard �nsntanoe pmmiums, as requi�od; Third, t� iat�est due imder the Note; • Fouith� to amottiz�iian of tLe ptmcYpal of the Note; and F�fth, w Iate chacges dtu �mder the Note. 4. P9re, F1oo�I aral Qtber Ba�rd In�raaee. Borrower absll insiue aU impmvementa on the Praperty. whether now !n existence or subscquenfly enected, against aay ha�rds. casualdes, and continger�cies, iaclnding fic+e� for which I.ender requires iasaranca. This iasurance shefl be maintained. in the amounts and fcr the perfads that I.�der requires. Borrower shatl also ins�ue all improvementa on the Pc�operty, whethor nox� ia e�xlete�ce ar stsbseqneatly eroct�d, against loss by Aoods to the exteat required hy the Secretaty. All i�surance s]zail be carried with compames apprave� by I�ender. The ina�uasce policies aad eay r�ennewals sball � beld by Lender sud shall iaclnde loss payable clauus ia favor of, and ia a fonu ac�xptable w. Leader. Ia tbe event of loss, Borrnwer shall give I,ender immediate notive by mail. Lznder may meke proof of loss if aot made prampt�y by Barnnwer. F.ac� insnranoe compaay conxracd is bereby a�thoriud snd directed to make paymmt for such loes directly w l.cmder. fastea�d of to Bomnwer sad w Ldoder joiatly. All ar aay part of the ineuraac� proceeda may be applied by Icnder, at its option, eithes (a) w the nduccion of tlu fmdebteflness �nnder the Nvte and this 5ocurity �nsOnantat. &et to mry delinquent amouIIts applie� in ihe order fm paragraph 3, end then to PsePayment of principal or N) w the �stat�tion or repair of tha damagcd Pcnpe:ty. A� applicat�on of the pra�eds w the principal sball not extend or pvstpo�te th� due date of the monthlY PgY�ta wLich are referred to ia gazagcaph 2� or change the amount of suc� paymenta. Any exce� insurance proceeds over an amouat requirod to pay aU outstandiag indebted�ess uuder the Note and this Seauiry Insaum�nt shall be paid to ihe mtity legally antided tberato. 1a tho event of fot�eclosnre of this 5eauity Inswmeat or other transfer of t3u� to the Pmperty that eattingnishes the ind�Mulness all right� title and interest of Borrower ia a�d to iasur�se policies in force shall pess to tbe Pu�haser• 5. 4ccupancy. Preservation, Mainteaance snd Pratectpon of the Property, Bonower'a I.oan Applfeadon; Leaseholds. Borrna►er shall ocxupy. establish. apd use the Proparty as Borrower's prindpal resideare wfithin sixty days aner tbe a�ocurian of Wis Security Instrument (or withia sixty days of a later sale or aeasfer of � Prope:ty) snd sLall oontimte ca oaupy the Pmgerty as Borrower's priucipet residence for at least one year aftrr the dau of oocupancy� �mless I.eader datermines that raq�siremeat wil! cause undue hardship for Borrower, or uoless exteuuating cira�stanoes exist wbich are bryond Bornuwer's control. Bormwer ahall aotity I.e,ader of aay extenusting circumssancas. Barrower sball not caommit waste or destroy damsge or subrstantialtY �e ��P�Y ��' � Praperty to deteriaiate� nasonable weaz an� tear excxpted. Leacier may 9asFetx the Prapertp if the Property is vacant or abandonod or the loao ts ia defautt. I.ead�r may take reasonable action w protect aad preserve anch vacant or . Ca• wcw�: . . ��NAYfI �esoz►.o� �+�e a m e P�ge � of ��P