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<br /> � , Lend�r may, Yt any tkne, Col�ect anA hoid amounts lor E6crow Items m an ayyrepate amount not lo �xc�d th�m�ucMnurti
<br /> amount thtt may b� raqukod�or 6orrower's ascrow eccount under i�o Heal Estate Settlemant Prac�duns Acl of 1971, 12 U.S.C.
<br /> �2601 yj ggq, end Implementinq reyulations. 24 CFFi Pa�t 3500, ns they �nny de nmendod from tkno to Ikne("RESPA'►, sxcspt
<br /> that tha cushlon or reserve permilted by RESPA lor unant�ipated disbw6emenls ar dlsAurso�nta bNor� lh� 8orcowM'�
<br /> payrtwnte�ra avalabia h the ncCOUnI may not bo bAaed on emounls due for Ihe mortqepe hauranco prwnium.
<br /> If th�omounts held by lender lor EeCraw Ilems exceed Ihe �mounta pKmitted to be hold hy RESPA. LMQK shaN�CCOUnt
<br /> to Banowlr lor th��xcesa lunds is requked by RESPA. If th�amaunts ol Nnds held by Londrr at any llm�u�not wMbNnt lo
<br /> p�y the Esarow Items when due. Lender may notily the Borrower end roquke Borrowa to mak�up th�IhoA1p�u p�rmkt�d by
<br />� RESPA. �
<br /> Tho Esorow Funds are pbdyed�s additfonal s�curity tor nll eums securad by thls Sacurity Instru�Mnt.II 8orcow�r t�nd�n
<br /> to Lender the full payment ot aU suah sums, Borrower's account ehall be credited wfth the bakna� nmalnhp for au Nstalkn�nt
<br /> Rema (a), (b), and (c) end eny mortgaye fnsurance premlum hsteurnent tnat Lender has not become oblq�tod to p�y to ths
<br /> 3ecretary,and Lender ehall prompty retund any excess lunds to Borrowar. ImmeOiateiy 6rior to e lotecbsun a�b of th�Prop�rty
<br /> or Its aaqulskbn by Lwider, Borrower's eccount shau ba credited with 8ny bfllanC9 tart:3inirtg f0►YII inSqIIrt16�I�S tOf RW�18(�)�(b),
<br /> and(c).
<br /> 3. Applicatlon of Peymenta.All paymenis under Pnragraphs t and 2 shall bo applied by Lsnder�s Ioibws:
<br /> Firat, to the mortgage inaurence premlum to be petd by Lender to the Secretary or to the monthy charpa by the S�oratary
<br /> inetead of the monthly mortgage insurance premWm;
<br /> Second� to any texes, �peclal a6sessments, leasehob payments or ground rents, and fMe, itood and other huard
<br /> ktsurance premiums,as requked;
<br /> Thtrd,to f�tsresc duo unaer tne Noce; -
<br /> Fourth,to amortfratlon of the princlpal of the Note;and
<br /> Fitth�to Iate aherges due under the Note.
<br /> 4. Fire, Flood end Other Hezerd Insurance. Borrower shatl insure a�� improvemants on me Property, whetna
<br /> naw in ex�stence or subsequentry erected, agalnst any hazards, casuaRies,and contNgencles, hcludhp itn, tor whbh L�ndK
<br /> requ'res insurance. Thts Insurence shali be malntained h the amounts and�or the periods that Lender requlros. Borrower ShaN
<br /> abo hsure aN knprovements on the PropeAy, whether now in existence or subsequentty erected, apainst Wss by fbods to th�
<br /> axtent requked by the Secretary.Ali Insurance shatl be carried with companles approved by Lender. The insurance polloiea and
<br /> any renewAis shall be held by Lender and shan Include loss payabte clauses In favor of,and tn a torm acaeptable to,Lender.
<br /> In the event of loss, Borcower sha11 give Lender Immedlate nptice by mai. Lender may make proot of bss if not mad�
<br /> promptty by Borrower. Each Insurence company cor.cemed I5 hereby autnarized and dkected to make payment for suah bss
<br /> dracey �o �onder, klSle80 Ot�O tlOffOw6f IItid fo i.entiut juii(ir.Aii O� 8��'j R�i:O! !h8 !^.�tl78flC4 �.+r(+rrtrl+t maY b6�O(IIMd bV ,
<br /> Lender, at ke opllon, either(R) ta the reduCtion of the hdebtedness under the Plote and thls Securrty Instrurtwnt. �r6t to eny
<br /> delinquent amounts applted In t�e order In Paragraph 3,and then►o prepayment of prinoipal, or(b)to ths ratontion or rep�k of
<br /> the damryed Property. Any eppucntlon of the procoeds to the princlpal shall not extend or postpona the du� dtte of ths
<br /> monthy payments whkh are reiKred to In Parayrpph 2, or change the amount of such paymants. My ac�ss Insurance
<br /> proCwds ovet an amount requked to pay aA outstandiny Indebtedness under the Note end this Security InsWmont shtM bY pi�iti
<br /> to tha ontRy fopaly entitled thereta.
<br /> In tha svent of torecb5ure of this Security Instrument or other twnsfer ot tkle t0 the Property ihat 0xtingul8he� th�
<br /> indebt�dnsse,a��right,tRle end inlerest of Bonower In and to hsuranCe polkies h forCe shall pflss to the purChas9r.
<br /> 6. Oecupancy, Preatrvation. Maintenance end Prolection ot the Propetty; 8orrower's Loen
<br /> Appiieation; Leaseholds. Borrower shaA occupy,estebHSh,and use the Property as Borrowei 6 princtpal nsidmc�wkhin
<br /> sbay daya aRsr the exacutbn of tnls Security Instrumant(or within sfxty days of a tater sale or trensfer ot th�Prop�rty)�nd shaR
<br /> conthw to oCCUpy the Property es Borrowers pnc�lpal residence for at�east one year after tho d�ta of occup�nCy, unMSs
<br /> Lend�r datermines that requkement will cause undue hardshlp tor Borrower,or unless extenuatinp circumsUncos�ciet whfch an
<br /> bsyond BortOwer'S COntrol. 8orrower 8he11 nOtlly Lender o} eny extanaetinp cirCUmst4nces. Bonower shall not commk w�sM or
<br /> dsSVOy.dameqe or substantialty chanpe the Property or elbw the Propeny ta deterbrate, ransonabM ws�r and tw eoccpt�d•
<br /> Londar may hspeat the Property It the Property is vacant or abandonep or the loan is in d�fauk. L�ndar m�Y tlke rialonabN
<br /> totbn to proteot nnd presarve suCh vacent or abandoned Property. QwrowK shall also be in deltuR�Bortow�r,durhp ttw btn
<br /> applicatbn process,peva meterkly false ar inaecurate Informatlon or stetements to Lender(or hlqd to prmid�L�nd�r wkh any
<br /> mat�ridl htormatbn) in conneotion with the loan evidenced by the Nole, lnClud'ny, but not ��mk�d to,npas�nt�tbns ooncKninp
<br /> Borrowers occupancy ot the Property as a princlpal resldenCe, If this Security Instrument Is on a laas�hold, BortOwer ahtq
<br /> comply with the provls�ons of the tesse. II 9orrower acqukes fee title to the Property, the Iea58hoid nnd Ip tqla shaM not b�
<br /> meryed unless Lendar agrees to Ihe merger tn writhp.
<br /> 6. Condemnation. The proceeds of any award or c1a�m for damages, direct or consequentWl, In connaCtfon wkA any
<br /> cond�nnatlon or other tekMp of any ptR of the Propexty, or for conveyance i�placs of condemnatbn,ure hsnby �sslpmd and
<br /> shalt bi,paid to Lender to the extent of the full amount of the indebtedness that remahs unpafd untMr th� Not� ond this
<br /> Securityr Instrument. Lender shall appty such proceeds to the reductbn of the indebtodness undar the Not� tnd this S�CUrky
<br /> Instrumait, fkat to any delinquent amounts applted In the order provlded h Peregraph 3, and thon fo pnpayment ot prinotpal.
<br /> qny appl�atbn of the proceeds lo tne prinCWal shall not extend or postpone the due date of the monthly paymonts,whfch aro
<br /> referted to h Paragreph 2, or chenge the amount of suCh pflyments.Any excess praceeds over �n amount raquked to pay qll
<br /> outstanding Indebtedness under the Note and this Security Instrumer�t sha�be pa�d to the entlly�eqally entNbd tharoto.
<br /> 7. Cherges to Borrower and Protection of Lender's Rights in the Property. Boraower sholl pay aN
<br /> aovemme�tal or munlCipe! cherges, flnes and �mposit�ons thnt are not �cWdetl in Peragraph 2. Bonower shall pay thase
<br /> obllgatlons on tlme dkectly to the entlty whfch is owed the payment. It fallure to pay wouta aaversey errect i.e�ders ini�nsi n
<br /> the Property, upon Lender's request Barrpwer shnll promptly lumish to Lender receipts evldenChy these payments.
<br /> ° I}Borrower falls to m&ke thesa paymentS or the payments requked by Parapreph 2,Or tBils to perfOrm any othYr o0vanintS
<br /> � and aflreements contehed 'n thls Security Instrument, or there Is a legal prxeedlnp that may sqnHicanty aHect Lend�r's rlphts in
<br />"?� the PropeAy (such es e proCaetl�p in bankn,ptcy,for condemnallon or to enforCe laws or repulatlons),then Lender may do and
<br />�:; pay whetever fs neCessary to protect lhe velue of the Property and Lender's rghts h the Property, InClud'np paymYnt of tYxes,
<br /> l� hasard hsuranCe and olher Items menUoned In Paraflraph 2.
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