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<br /> 97- ���3 .
<br /> ' Lender may, at any time, collecl and hold amounls for Escrow Items h an apg�e�ale emount not to excaed Ihe maxfmum
<br /> 8mount thet may be requlred I�r Borrower's escrow uccount under the Real Estaie Sellbment Procedures Act of 1974, 12 U.3.C.
<br /> �2601 g1 @gg,end implementina repulallans. 2a CFR Part 3500,as they mey be amended trom tlrne to time("RESPA"), except
<br /> that the oushlon or reserve permNted by RESPA fo� un,�ntlClpetetl dlsburseRen�s ot df:,bursements befora the Borrowora
<br /> paymente ere avellable In th�eCCOUnI may nat be basod on amounts due for the morpape Insurance premium.
<br /> If the amounts held by Lender lor Escrow Items exceed the amounts permMled Io be held by RESPA, Lender sha:l account
<br /> to Borrowor tor the excess lunds as requhed by RESPA. If the amounts of lunde held by lender at eny time are not suNfcfent to
<br /> pay the EsCrow Items when due, Lender muy not�ly tho Borrowar and roquUO Borrouer to make up tho shortaqe es permitted by �
<br /> RE^aPA.
<br /> The EsCrow Funds are pledped a5 edditlonel security for all sums secured by Nls Se�ur�ly Inatrument. If Borroww tendorc _
<br /> to Lender the full payment of ell auch sums, Borrowers accou�t shall be crediled w1h Ihe balance remaininq for�il instelknant
<br /> Items (a), (b), and (c) and eny moAqage Insurance premk,m Installment that Lender hes not become obliqated to pay to the
<br /> SeCretary,and Lender sha11 prompty retund any excess funds to Borrower.IrnmediateN Prlor to a foreclosure Sale of the Proparty
<br /> or Its acquisiUon by Lender,9orrowers aCCOUnt shall ho crpdited with any balantd remahh� tor au hstamnents for ilems (a),(b),
<br /> end(c).
<br /> 3. Application of Payments.Ail payments under Paragrephs 1 and 2 sheY be appl'�ed by Lender es t0lbws:
<br /> FIfEt� to the mortgage Insurence premium to be pald by Lender to the Secretery or lo the monthly charpe by the Secretary
<br /> fnstead of the monthry mortgage Insurance premium;
<br /> SOCOnd, to any tn�ces, speclal assessments, leasehold payments or qround rents, and I�e, flood and other hazrud
<br /> Insurance prsmlums,ns requlred;
<br /> Thtrd,to inte�ert due under the Note;
<br /> FOU�th,to amoRtzatlon of the prtncipal of the Note;a�d
<br /> Fifth�to tate cnarges due under the Note.
<br /> 4. Fire, Flood end Other Hexard Insurance. Borrower SAali hsure atl Ynprovements on the Property, wnecner
<br /> now in existence or subsequently erected, against aoy ha�rds, casualties, and ea�tinpencies, includlnp fire, for whbh Lender
<br /> requires tnsurnnce. This Nsuranco shall be ma�teined in the emounls end for the periods that Lender requires.Borrower shtll
<br /> also Insure eM knprovements on the Property,whether now In existence or subsequentry erected,apainst loss by fbods to the
<br /> extent requked by the Secretflry. All insurance shalt be carried with compentes upproved by lender. The insurance pol�ies and
<br /> any renewals shall be held by Lender and ahal Malude loss payable olauses In favor oi,md h a lorm acceplabie to, Lendor.
<br /> In the event of bss, Bonower shell gNe Lender fmmediate not�e by mail. Lender may mAke proo! of lose H not made
<br /> promptly by BOROw�r. �aan insurence r.ompany isv�ws���ed �s hsrStY «ut`or�d s•d d�e!.'ted 2?makn�bymant for BuCh b8s
<br /> dkectly to Lender, M�stead of to Barower and to Lender Jotntly. AIi or any p�rt d the hsuranca proceads may be appl�ed by
<br /> Lender, at Ma optlon, okher (a) to Ihe reductbn of lhe hdebtedness under the Note and thls Security Instrument, fist to any
<br /> delinquent amounts epplled In the order in Paragraph 3, and then to prepeyment of prisuqal,or (b)to the restoratbn or repak of
<br /> the damaged Praperty. Any applkation of the praceeds to the prinoipal shaq nol extend or postpone the dua det� of the
<br /> monthty payments wh1Ch are reterred to In Paragreph 2, or chanpe the amounl ot such payment6. Any excess �nsuranCe
<br /> proceeds over an amount requked to pay all outstan0ing indebtedness under Ihe Nole and this Security InsWment shall be paid
<br /> to the entity leyally entitled thereto.
<br /> In the event of foreclosure of this Security Instrument or other transler d title to the Propwty that extk►pulshes tha
<br /> Indebtadness,all rqht, tkW end Interest of Borrower in and to tnsurence pollcWs ir��orco 5{�aY pasa to th� purohator.
<br /> 6. Oecuqancy, Preaervation, Malntenar�ce end Protection of the Prope�ty; Borrower's Loan
<br /> Applioation; Leasehoids. Bo�rower SheY oCCUpy,e5tabiish, and use thY PrOperty as BonowK's prinoM'el»sldM►Ce wkhh
<br /> abdy d8ys aka th�exscutbn af this Securiry Instrument(or within sbcty days ol�Yt��ufa or tr�nster of tho Proparty)and Sh�M
<br /> oonNnw to occupy th� Property ns BoROw�s ptinotpal residence tor tt le�st oM y�ar �k�r th� d�to of occupanoy, unMts
<br /> Londar datermh�s thnt roqufrement w(N caus�undue hardshtp tor 6orcower, a unNss �xtenu�tinp CkcumstanCea rxist whbh w ,
<br /> beyond Bortower's conlroi. Borrower shail notKy Lender ot any exlenuaYng circumslaneos.Bor�owsr ahall nqt commk w�sta or .
<br /> desUoy, damape or substanlialty cnanpe the Property or allow the Property lo dNeriarete,reason�ble weor and tear excapt�d.
<br /> Lender may Inspect the ProDerty Y the Property is vacant or at�andoned or Iha ben IS in tlefaut. Lander may vke ►wsonabM
<br /> aotton to protect and preserve such vacant or abandoned Propeny.Borrower eheB�ISO be In detouR N Borroww,durnp t�e brn
<br /> eppltc�tbn proceas, pave materlaly false or nacourale Iniormetbn or statem�nts to Lender(or hNed lo provids und�r wkh ony
<br /> materkl Y�fortnation) h Connection with tha loan evidenCed by tha Nota,hch,dhp,bi�t not IimRed to, ropresonttlbns COnaminQ
<br /> Borrowir's oCCUpancy of the Property ns e prhoqtl resldanca. If this Security Instrument f� on • Iws�hold, BorrowK shaM
<br /> comp�y with ths provisbns oi the lea6e. If Borrower aaqukes lee tRle to tho P�op�rty,th�leasehold and foe tNM shAp not be
<br /> msrq�d unbss Lend�r aflrees to ths merper In wrkinp.
<br /> 6. Condemnatlon. The prpceeds ol any �ward or clalm for damaqes. drect or consequentkl, In.00nnectbn wkh any
<br /> aondemnatbn or other tekhg ot nny part ol the Property, or for conveyance h placa of condemn¢tbn,are hareby �salpnsd nnd
<br /> shnll be peld to Lender to the extent of the tull amount of !he Indebtedness tha[ rem8h5 unpafd under the NOIS end thls
<br /> 3eCUrNy Instrument. Landqr sAall appry such proceeds to the reduCtton ot Ihe Ybebtodness under the Not6 and thfs Saaurity
<br /> Instrument, fMSt to any del'�nquent amounts epptied n the ortler provtded in Parapraph 3,and then to prepaym¢nt of prinelpal.
<br /> Any appliCat�on o}the proCeeds lo the pr(ncipol SheN not eMend or poslpone the tlue date oT the monl��y p8yments,whiCh are
<br /> referced to h Paraflraph 2, or chenge the amount ot such payments. Any excess pra�ds over an emount requksd to pay aN
<br /> outGtflndiny Indebtedness under Ihe Note and thfs Security Instrument shall be pak to ihe entRy Npelly entfllBd tharrto.
<br /> 7. Charqes to Bor�ower and Prote.tion oi Lender'a Ri�hb in the Property. 8ortow�r ahail pay au
<br /> govemm�nttf or munfclpal oharqes, f'nes and tmpositions that are not includeG in Panprapn z. �ortower 6�1i8 pay iness
<br /> oblipatbns on time dkeCtiy to th�entity wh�h Is owed the p�Yment. If lailun to DpY woukl a�WrSaN att6ot L�ndar's Inter�5t In
<br /> the Propsrly,upon Ls�dera request Burtowa shell promptiy tumish to Lendor recepts evidenofnp theso payments.
<br /> If Borrower lells to make these payments or the pflyments requked by Parapnph 2, or tails to perform any other Coven�nta
<br /> and eqrBemYnts contalned fn this Securiiy Instrument, or there is a k►pal procQadinq tlut may sfynlNcanity alteat Lender's rfphte In
<br />� the PropeRy(such as e procseding in bankruptCy,lor condemnatlon or to enlo�ce iaws or repuiatbns),then Lender roay do and
<br /> pay whatever fs necessary to proteCt the vaWe of lhe Property end Lenders ripnts in the Property, hctudhy payment o} texes,
<br /> harerd fnsurB�Ce end other Items rreentloned�n Parayreph 2.
<br />- � F6E�0.LM0(0/97) Pap�4 0�6
<br /> 565
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