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201301902 2. Monthly Payment of Taxes, Insuranceand Other Charges.Borrodd•et shall include in each monthly payment, together with the t cruet"Dt and interest as set earth in the Rote and any late charges.. a until tot in) taxes and special assessments Ievied or to be levied against the Piirpeit". lb; leasehold payments or ground rents on the Property. and toy premiums for insurance requited under paragraph 4 In any year in which the Lender must pay a mortgage insurance premium to the .`'secretary ct Housing and turban Development Secretary') or in any year in which such picumi a would have been requited it'Lender ;till held the Secnrts Instrument. each monthly payment shall also include either ti) a sum tot the annual mortgage insurance pietnunn to be paid by f coder to the Seer:tar',, al iii)a monthly charge instead olu mortgage tnananee premium it this Secutity Instrument is held by the Secretary, in a reasonable amount to he deter mined by the Secretary. Except too the month]`, chat ge by the Secretary. these items ale called "Escrow Items" and the stuns paid to Lender ate called "Escrow Funds." Lender may. at any time. collect and Itrld atrotntts fin-Escrow Items in an aggregate amount not to exceed the max mum amount that may ne acquired fin Bonowcr's escrow acetnna uudet the: Real Estate Settlement Procedures Act of 11174. i'_ US> C. Section :PHI it seal. and !mpiet tenting teg.ulations. 24 CFR Hart 1500. as they may be attended from time to time t"RPSPA"t. except that the t'ushion or reserve permitted by RFSPA for unanticipated disbursements or disbursements before the Borrower's payments are at:adahic to the account may not he based on amounts due for the mot tgage in,utafh e premium. If the amounts held by I cadet for 1 screw Items exceed the amounts permitted to be held by RLSPA. Lauder shall account to Bonorbet ti`t time execs, funds as required by RUSPA If the amounts of muds held by Lender at any tilt ate odd soffi.icnr lc. pay the Escrow Items when due. Lender tray notify thee Borrowc1 and require Borrower to make up the shortage as petulitted by P E.SPk fie Eset ow Funds ate pledged as additional security for all sums seamed by this Sec-nifty lusrt'uacut If Borrower renders to I ender the full payment of all such seats. Sortower's account shall her credited with the balance remaining for all anualtmetit items tat. tic). and fc)and any rnuttgace insurance premium installment that Lender has not become obilgated ro pay to the Secretary, and Lender shall piomptlp refund any excess hinds to Bon owe r, 1mmedistelaa prior to a foreclosure sale.tote Ptopetty or the acquisition by Tender Borrower's account shall be credited with city balance retnanitng for all instalhacnts far items tab r ht. and to 1 3. Appiicationof Payments.All payments under paragraphs i. and ' shah be applied by Lender ;is bellows: First, to the mortgage mstnranee premium to he paid hr Lender to the Secretary or to the monthly charge by the Secretary instead of the monthly mortgage insurance premium,'. See,md to any taxes. special assessment. leasehold payments or ground tent, and Tire flood and other h.vatd insutatnee premiums. as reputed: Third, to interest chi: tinder the Note_ Fourth to amutti7atn`n of the principal of the Note; and Fifth. to late chat tees due under the Note. 4. Fire, Floodand Other Hazard lnsurance.Rttrrowcr shall insure all improvements viii the Property. whether now in existence or subsequently erected, agallist mu, hazy ds. casualties. and contingencies. nteiudme fire. tor which Lender requires tnsntance. Pius insurances shalt he ncimnhuncd in the amounts and for the perm&that I cadet requires Ron ow et shall also insure all nnpr 'Vemetits din the Propelty, whether nose, m eststetee or subsequently erected a_tinat !Ott?.',[ floods to the extent required by the Secretary Alt insurance shall be carried with eontp_: ue:approved by Lender. The in,atanee policies and tine renewals shall 0e held by Lender. d shall include loss payable clauses, to t1mor oh. and in a torn acceptable to. Lender. =!A' npci4` <IIH?`ck�-qt rj — Ham .gncn wA1 send gerFirr„ z; . ;: . - \ ... 111 (e Hill H Ill V l 11111111111 ! 11 Il111 a_ , % M1°FcMt4P ,; t,, ;• 803313764,12 0233 370 0310