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<br /> if tho amounts held by Lendu for Escrow Itcros cxceed ihc amounts permltted to bc held by RESPA,Lender shaU
<br /> accuunt to Baaower for the ezcess fumds as required by RESPA. If the amounta of funds held by L.ender at any time
<br /> arc not suf�cicnt to pay the Escrow Items whcn due,Lender may notify the Bocmwer and requira aonower to meke up
<br /> tho shortagc es permitted by RESPA.
<br /> i he S,,crow Funds are pkdged as addidonul security for all sums sccured by thls Sccurity Instrument. if B�rrowcr
<br /> tendera to I.cr�der the full payment of all euch sums,Borrower's account shall be credited wlth tha balancc remaining for
<br /> all instaUment items(a),(b),and(c) and any mortgage insurance prcmium �nstallmcnt that L.cndcr has not become
<br /> obligaud w pay w the Sxretary.and Lendcr ahall pmmptly rcfund eny oxccss funds to Borrowu. Immcdlately prior to
<br /> a forcclosum selc of the Property or its acquisidon by Lcndu,aorrowor's eccount shall bc crcditcd wlth anY balanca
<br /> retnaining for all instnllmCnts for items(e),(b).and(c).
<br /> 3.Appikadon o�Ppymmts.All paymcnte under parag�ephs 1 and 2 Fhall bc applicd by Lcndcr as[ollowa:
<br /> g]tu,to tha mortg�ge imurance prcmium w be paid by I.endu tn tho Socretary or w tha monthly chargo by thc
<br /> Sccretary Inatead of thc monthly mnngago inaurence premium;
<br /> �p�ppd,W qny Iauc�� spocial esscssmcnts,icaschold paymcn�i cx ground rent�,rnd tirc. Oaad And athcr hw.erd
<br /> insuranco promium9,as rcquircd:
<br /> y�,to intuest duo under Uio TVote;
<br /> g�h,to amcxti�aUon of tho principal of Ihc Nata;and
<br /> �,w I�la chugea dua undcr tha Noto.
<br /> 4.Fire,Flood�t�d Other H�rard In:umnre.Borcowu shail inauro oll improvcmcate on tha Property,wh�thcr
<br /> now in calstence or aubsequenUy erectod, against any hazard9,ea4ualdes,and condngencies,including fire.for which
<br /> Lendu roqoires insurance. This insuranco shall be meintaincd in thc emounts and for the puloda that Lcndcr rcquirc+.
<br /> Boerower shall elso insure all impcovements on the Property,whether now in axistence or subsequently erected,again�t
<br /> loss by tlooda to tho extent requiral by 1he Socrctary.AU insucpnce shall be carrled wl9h companies approved by I.ender.
<br /> 'Itie insurance polick,s and any renewals shaU bc held by I.cndcr and shall includo loss payable clauses fn favor of.and
<br /> in a form acccptable w.Lcnder.
<br /> In the event of loss,Harowa shall give L.ender immedlate nodcc by mail.l.endu may meke proof of loss if not
<br /> mAda promptly by Borrower.&ach insurencc company concemed i�haeby autho�ized end dlrxted to make payment for
<br /> soch bss directly to L.ender.instead of w Borrower and to L�ender joindy.All or enY part of the insurance proceeds maY
<br /> bo epplied by Lender.at its optIon. eithcr(a) to the reducdon of the indebtedness undcr ti�e Yoic uii�this�r�"�tY
<br /> Iastrument,first to au►y delinquent amountg epplied in tha ordu in para�raph 3.end t�en to pnpayment of principal,or
<br /> (b)to the resuxadon or cepair of thc damaged Propeny.My applkation of the procceds co the pdncipal shall not extend
<br /> or postpone thc due date of the monthly payments which are rcfecred to in paragraph 2,or change the amoturc of sach
<br /> paymenta,pny eaas.s insurance proceeGs over an emount requircd w pay all outstending indebtedncss under the Note
<br /> and this Securiry Inatrument ehall be paid to the entiry lcgaUy entitkd thereco.
<br /> In�he event of foroclosure of this Socnrity Instrument or othu trensfu of dtic to thc Property that exdnguishes the
<br /> indebtedness,all right,dtle and interest of Borrowu in end to lnsuranca policles in force shell pass to the purcheser.
<br /> S. Occupancy, Preserntion, M�MtenAnce Aad Protation of the Property; Borrower'x Lonn Applicationi
<br /> I.ea6eholds. Borrower shall occupy.eswblish.and use the Property ag Borrowu's princfpal residenca wlthin sixty�lays
<br /> after tho execudon of this Sxurity Inswmcnt{or within sixry days of a lacer sale or uansfu of the Propaty)end shall
<br /> condnue to accupy the Property es Borrower's princtpal resldence for at leact one year efter the date of occupancy.
<br /> nnless Lendu detecminea that requirement wUl cause nndue herdship far Borrower.or unless extenuatinng circumstences
<br /> exist which aro bayond Bomower's control.Borrowu shsll notify Lender of eny extenuating circumstances.Bomowa
<br /> shall not commit waste or destroy. damege or substantially change the Pmpetty or allow the Property to detaioreeo,
<br /> res�sonable woar and tear exapted.Lender may inspoct the Property if the Property is vacant or abandoned or the loan is
<br /> In defau[t I.ender may teke masoneble acdon W protect and preservc such vacaet or nbandoned Property.
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