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<br /> . lender mey, at any tlme, collect and hold amounis for Escrow Items in an aggregate amount not lo exceed the mexlmum
<br /> � emount thet mey be requlred for Borrower's escrow account under the Real Estate Settlement Procedures Act of 1874, 12 U.S.C.
<br /> J �2601 et seg and Implementing regulntlons. 24 CFR Part 3500, as they may be amended from time to time ('RESPA`), except _
<br /> that the cushion or ro�erve permltted by RESPA for unanticlpated dlsbursements or dlsbursements netore the Borrower's
<br /> � payments are avelleble In the account may not be based on amounts due for the mortgage insurance premium.
<br /> Ii tho amounts held by Lender for Escrow Items exceed the amounts permitted to be held by RESPA. Lender shall account t�
<br /> + to Borrower(or the excess funds as required by RESPA. Ii the amounts of lunda held by Lender at any time are not sumcient to �
<br /> I pay the Escrow Items when due, Lender may notlly the Barrower and requlre Borrower to make up the shortac�e as permilted by i . �':,`�;
<br /> ; RESPA. _
<br /> The Escrow Funds are plt3dged as edditlonal securlty for all aums secured by this Security Instrument. If Borcawer tenders� L �";.�`y��A
<br /> _„ to Lencler tho full peyment oT all such sums, Borrower's account shell be credlted with the belance remalnlnfl (or alI Instellment� ' '-��r`
<br /> � items (a), (b), and (c) and any moRgage Insurance premium Installment that Lender has not become obllgatod to pay ro the� ,'�'i�•i• h;,::.o�:�y�
<br /> 8ecretery,and Lender shall promptly refund any excess lunds to norrower. Immedlately prlor ta e fureclosure salo of the Property ..,, tu'
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<br /> or its acqulsitlon by Lender, Borrower's account shsll be credited with any balanca remalning lor all Installmenis for Items (a), (b�.v � �•�--__
<br /> � And (c). .; ,�..�
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<br /> 3. Applicatian of Paymsnts. Ali payment� undcr Pnr�prnphs 1 end 2 shNl bo app�lod by londor n:,follows: _-_
<br /> First,to Iho mottgego Inaurenco premtum to bo pald by Lr.nder to tho Secrotnry or to tho monihly char�a by tho Sr.crotary
<br /> Instead ot the monthty mortgego Insuranco premlum. ,
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<br /> S�cond, to eny taxes, spedel nase3smoma, Icaaohold paymenis or �round ronts, nnd firo, Ilood nnd othor hnLard ;� �_.
<br /> , Insurence piemlums, ea roqulred; �.i(•�'`�•4
<br /> Thl►d, to Interast duo undar tho Noto: "��i'•:'”
<br /> ' Fou�th, to amortiz�tlo oi ho princ ql of tho Vo1•• end ' �tis�`�
<br /> � Flfth,to lele chergas dua under the Note. ?���-,
<br /> 4. Flre. Flood and Other H�za�d Inaur�nce. Borrower shall Insure all �mprovements on the Property, whether V;;�
<br /> ' now In exlstence or subsequently orected, agalnet any hazards, casualtles, and contingenclos, Including Ore, for whlch Lender �
<br /> $ ..
<br /> requlres Insurance. Thls Insurance shall be malntelned In the amounts and for the perlods that Lender requlres. Borrower shall �4�� =
<br /> also Insure all Im rovements on the Pro e whethor now In existence or subse uentl ereoted, a alnst loss b 1looda to tha ���'�
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<br /> �., extent requlred by the 5ecretery. All Insurance shall be carrled with companles epproved by Lender. The Insurance policles and �:;,kt�r••
<br /> any renewels shell be held by Lender and shatl include loss payable clauses in favor of,and in a form acceptable to, Lender. d
<br /> �., In the event of loss, Borrower shell give Lender Immedlate notice by mAll. Lender may make proof af loss if not made :. "_
<br /> promptty by Borrower. Each Insurence company concemed Is hereby autho�ized end directed to rnake payment for such loss ; �,��
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<br /> .a.�TC�y 20 �&fidof, iiio223�1 u1 iu Z3uTiuwBi 6iid iu LBiid'ei jo�rary. „�� ui ai�y paR u1 il5& ii�6iiTdP�GB �iiGtietisdy iiiay Ua t�Npiind by
<br /> .� Lender, at its option, elther (a) to the reductlon of the indebtedness under the Note and thls Securily Instrument, first to any ,
<br /> � dellnquent amounts applled In the order In Paragraph 3,and then to prepayment of princlpal, or (b) to the restoratlon or repalr of �i'
<br /> � the damaged Property. Any applicatlon of the proceeds to the principal shall not eMend or postpone the due date ol the t `; ;'"`
<br /> monthiy payments whlch are referred to In Peragraph 2, or chenge the amount of such payments. Any excess Insurance ', ��'
<br /> proceeds over an amount requlred to pay all outstending Indebtedness under the Note end thls Secudty Instn�ment shail be paid *
<br /> to the entity legelly entitled thereto. �'
<br /> " In the event of foreclosure of thls Secur(ty Instrument or other trensfer of title to the Property that extingulshes the
<br /> Indebtedness. atl rlght,title and interest of Bortower In ond to Insurance pollcles In force shall pass to the purcheser.
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<br /> 5. Occupancy, Preservatlon, Maintenence and Protectton of the Property; Borrower's Loan ` �.`�m
<br /> Appl(eation; Lee88hOld8. Borrower shall occupy,establlsh, and use the Property as Bortower's princlpal resldence within -`a��=
<br /> sixly days after the executlon of thls Secudty Instrument(or withln sixty days of a Ister sele or transfer of the Property) and shall
<br /> continue to occupy the Property as Borrower's principal residence for at least one year after tho date of occupancy, unless
<br /> � Lender determines that rcy;:iramont wlll cause undue nsrdsi��N i.,i 6��iuwer, or uniesy exienuaiing circumstances exist which ctre
<br /> beyond Bortower's control. Borrower shall notNy lender of eny extenuating clrcum�tances. Borrower shall not commlt waste or "
<br /> destroy, damage or substantlally change the Property or ellow tho Froperty to deteriorate, reasonable wear and tear excepted. -_-_ —�
<br /> Lender may Inspect the Property If the Property Is vacant or abandoned or the loan Is In default I.ender mey take reasonable " '`.=Y� -
<br /> action to protoct and preserve such vacant or abandoned Property. Borrower shall elso be in default If Borrower, dudng the loan _ _
<br /> � appllcation process, gave materially lalso or InaccuratQ IMormatlon or statemems to Lender (ar feiled to provlde Lender wilh any - =u— --.
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<br /> materlal Intormatlon) In connectlon with the loan evid�nced by the Note, Including, but not Ilmited to, representations conceming ��.`�'�s;��;.ys...
<br /> B o r r o w er's occupancy o f t ho Prope rt y as a pr inc ipa l res l dence. I i t h ls Security Instrument Is on a leasehold, Borrower shall -;;�;:;;.��,� '�1 M i,�•
<br /> � comply with the provfsions of the lease. II Bonower ucquires fee title to the Property, the leasehold end fee title shall not be �t�w"�� '' _,
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<br /> Imerged unless Lender agrees to the merger In writing.
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<br /> , � 6. Condemnation. The proceeds ot any eward or clalm for damages, dlrect nr consequentlal, In connectlon wlih any -�
<br /> � condemnatlon or other teking of any parl of the Property, or tor conveyance In plece of condemnation, are hereby assfgned and " �.
<br /> shall be pald to Lender to the axtent of the futl amount o1 the fndebtednass that remnins unpald under the Note and this .. �
<br /> i Security insirument. Lender shall epply such proceeds lo the reduction of lhe Indebtedness under the Note and thls Security
<br /> � Instrument, flrst to any dellnquQnt umounts applled In ihe order provided In Paragreph 3, and then fo prepnyment of principal.
<br /> Any appllcatlon oi the procoeds to ihe principal shall not extend or posipone the due dato o(the monthly payments, which are
<br /> � reterred to in Paragraph 2, or change the omount of such payments. Any excess proceeds over an amount requlred to pay all
<br /> � outstanding indebtedness under the Note and this Secunty Instrument shall be paid to the entity legally entitled thereto.
<br /> � 7. Charges to Barrowor and Protection af Lender's Rtghts in tha Property, eorrower shall pay au
<br /> ' , governmentel or municipal charges. (ines und irnpositions that aro not included In Paragraph Z. Borrower shall oav thesc�
<br /> � ! obligatfons on time directly to the entity which is owed ihe payrnent. If failure to pay would adversely ofiect Lenaer's fnterest in �
<br /> ihe Property, upon Lender's request Borrower shall promptly furnish to Lender receipis evidencing these payments. i
<br /> If Borrower feils to mnka ihese payments or ihe payments required by Peragraph 2, or feils lo per(orm any other covenants
<br /> and agreements conteined fn this Security Instiument, or ihero is a legel proceeding that may significantly aftect Lender's rights In
<br /> the Property (such as a procoeding in bankrupicy,lor condemnation or to enforoe laws or reguletions), then Lender may do and
<br /> pay whetever fs necessary to protect ihe value of Ihe Property and Lendei's righis in the Property. including poyment ot taxes.
<br /> hazard insurance and other Items mentioned in Paragraph 2-
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