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<br /> I Londe► nuy, �t any tYne, culleCt anG hold amounts for Escrow Items In en ey9repate amount not to exceed tha maxlmum , :��-'°=°-=�
<br /> emount thet mey b�requked lor Borrowwa iaCrow�ccounl undar Ins Real Eetnte SBttiement ProCetlures Act of 1974, t2 U.S.C.
<br /> �2601 g� g�g,and knpbmenthp royuktbns, 24 CFR Part 3500� aa they may be nmended from time to tNne ("RESPA"), except
<br /> Ihet the auahbn or reaerve permAted by RESPA (or unentbipaud dlsbursements or dlsbursements hefore the Bonower's ,
<br /> p�ymerdt ara we14bW In ths acaount m�y not be based an amounte dw for tha mortyaQa InsurYnCO premlum. °'
<br /> If the amountn held by Lender lor Escrow Items exceed the amounts permkted to be held by RESPA, Lender shall acCOUnt ;-
<br /> �,.
<br /> to Borrower for the axces�tunda ae rsquPed by RESPA. �f thg tmounts of funds held by Londer at any tkne are not suHblent to •
<br /> p�y the Fscrow Items when due, Lender may notHy the Borrower end Iequko Bonower to make up the ahortnpe as permkted by _-
<br /> .,,. . F1�SPA. c_==
<br /> The Escrow Funds aro pbdq�d as�ddkbnel securRy for �II euma sscund by thls Seaurky Inatrumsnt. If Borcowsr tsndera �� ",In��,:..—_
<br /> �""``� to Lender the lull payment of all suoh sums, Bortowers ecaount shall be credkad wRh the balance remahhq for nll instalMent � ; ..a
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<br /> Nems (a), (b), and (o) and my mortgape Inaurancs prsmium hatrime�t that LYndsr has not b�coms oblip�ted to pay to th• ,i;�,_:
<br /> .,..«
<br /> SeCretary, and Lender ehall prompty reNnd any exCeas tunds to Bortower. Immedbtey prlor to n forsobsure sale of the Property � -
<br /> or fts acqulsNbn by Lender, Bor►ower's eccaunt shall be credRed wMh Rny bal�nce remainhg for ali hstelMents for Rems(a), (b), �
<br /> and (c). -'-
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<br /> 3.Applicatlon of Peyments�All payments und�r Paragrophs 1 and 2 ahali b��ppikd by Lsnder ns folbwa: � s. :
<br /> FI�6t�to the mortflt,�e hsurencb premium to be peid by Lender to the Ser.retary or to the monthly r,harpe by the 3ecrotary � %i_-
<br /> hstead of the manthy mortpape insur4nce premium; �.�:
<br /> � SECORd, to any texea, speci�l easeasmenta, leasehold peymente or pround rents, and tiru, fbod and other hesard �,
<br /> Insurnnca prsmiums, ns requlred; �
<br /> � 7hll'd,ro intxest due under the Note; --_
<br /> FOUI'th,to amortiratbn of ths prNOlpai of th�Note;tnd —
<br /> Flfth,to late chqrpes due under the Nota. �`
<br /> � 4. Fire, Flood end Other Hezard Inaurance. Bortower shall Insure all knprovements on the Property, whether <
<br /> � now in existe��ae or subsequuntly ereoted, apakist any harards, casuaRles, and contingencies, hcludinp ffre, tor whbh Lander f1
<br /> requkes insurence. Thls insur4nce shap be mahtalned In the amounts and for the perbds thet Lender requkes. Borrower shall t -
<br /> � elso hsure oli knprovementa on the Property, whether now in ex l stence or subse quent y ereated, ayah6t bas by fbods to the
<br /> exte�t requked by the Secretary. An InauranCe shail be cert{ed wNh campanles approved by Lsnder.The hsurance polbks and
<br /> � eny renewais shall be held by Le�der and shell Include loas payabb ckuses In favor of,and in a fortn acceptabb ta,Lender•
<br /> In the evant of loss, Borrower shall pNe Lender knmed4te notbe by mall. Lsnder may make proof of bss H not made
<br /> � oromptN by Bonower. Each hsurence company concemed is hereby authorizsd and dfrected to mrka payment for suah bss
<br /> dkeotly to Lender, hstead of to 8orrower and to Lendet Jofnty. All o►anY Pan of ths indurancb piui.ssd� rtssY b: :FDl.��d b;
<br /> � Lender, at ke optbn, eRher (a) to the reductbn of the hdebtednesa under the Note and thy SeourRy Instrument, ffrot to eny
<br /> '. deihquent amaunts applfed h the order h Parapraph 3, and then to prepayment of prinafpel, or(b)to ths nator�tbn or rop�Y of
<br /> � ` 1 tho damaged Property. My eppll��tbn of lhe proceeds to the prinCipal ehall not extsnd or postpone ths due d�te of the
<br /> i monthy paymenta whbh ere retxred lo In Paragraph 2, or ahmpe the amount of such payment6. Any oxcess hsurance
<br /> _ „ �' proceeds ovx an emount requked to p�y all outstnndhg Indebtadmss under the Note nnd thfs Saourky Inetrument shall bs paid
<br />- to the entity bpsNy entRled thereta.
<br /> �� In the event o} forecbeure of thls Securky Instrument or other transfer of tkle to the Proparty that exthyuishes the --
<br /> t hdebtednesa,all rlpht,tRb and interest of Borrower h and to In4unnc�polbka In fores ehall pass to ths purcheser. -`��
<br /> y � 6. Occupency, Preservatton. Melntenenoe end Protectlon of 4he Property; Borrower'a Loan -
<br /> � Applicatforo; Leaaeholds. Bortower shell xcupy, astabllsh,1nd use the Propsrty ee Borrower's prinCipal resldenCe wRhin
<br /> sbccy days efler the executlon of thls Security Instrument (or wRhln 6bctY dsy6 0}a Inter saie or transfer of the Property)md shaA -_
<br /> � conthuo to occupy the Property es Borrower's pnc�bal reskience for at ieast ona year after the dets ot occupency, unless _
<br /> Len�iur dui�ra:�es trat requlroment wi�cause undue hardahlp for Bortower, or uniess extenuaiha aircumstances exfst whlah nre ¢. ___
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<br /> beyond Borrowers control. Borroww shall notHy Lender of any ezts�nuatinp cfrCUmstances. Bortower shaM not commk waste or
<br /> destroy, damage or substantlally chanqe the Property or allow the PropeRy to deterbrate, reasonable w�ar �nd tear exCepted. —
<br /> � � Lender may Inspect the Proporty H the Property Is vacant or ab�ndoned or the ban Is In defauR. Lendw may take rnasonabie `
<br /> ti actlon to protect and presarve such vaCant or abandoned Property.Borrower 6hail also be h defauk M Bortower,durhp the ban ��
<br /> � appl�atbn process, qnve materiauy false or Inaccurate inlortnation or stetements to Lender{or}aibd to provlde Lender wRh any �-
<br /> materlal informatbn) in connectlon with the loan evidenced by the Note, Inoludhp, but not Iknked to, reprasentatbns conceminy �J—
<br /> � Borrower's occupanoy of the Property as a prinolpai resldence.�f this SecurRy Instrument �s on a leasehold, Bortower ahail �-s-.--
<br /> ti comply with the provisions of tha lease. If Bonower acqukes tee tftle to the Property, the leasehold Cnd fee tftle sh�ll not be _ _
<br /> . merged unless Lender agrees to the merper h wrkinp. _ ---___
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<br /> 6. Condemnetion. The proceeds of any sward or Cluim for dameges, dkect or consequentlal, In connection wRh any ;�,;.�-_
<br /> • condemnatbn or other taking of eny pert of the Property,or lor conveyance In place oi condemnatbn,are hereby ns6lpned and :�..+':�j.:_�-
<br /> shall be p81d to Lender to the extenl nf the full amount of the Indebtedness thflt remalns unpald undor the Note and thls '�iK'� T`'_
<br /> Security InSt�umenL Lender shall appy such proceeds lo the reductbn ot the indebtedness under the Note and this Sacurfty �
<br /> Instrument, Ikst io eny de�inquent amounts flpplied fn the order provlded h Paragraph 3, and then to prepayment of prhC�pa�.
<br /> Any applicatbn of the proceeds to the prkiclpal shail not extend or postpone the due date of the monthy payments, whfch are ,.
<br /> referred to h Paragraph 2, or chflnee Ihe amount of such peyments. Any exCess proceeds over an amount requked to pay ell
<br /> i outstanding Indebtedness under the Note and this Security Instrumont shall be pald to the entky Iepaiy entRied thereto.
<br /> � 7. Chergee to Borrower end Protection of Lender's Rights in the Properry. Borcower shall pay ail
<br /> __..___r...� ... .w..nMMei ,.,.e.,,ea ino� a�rf o-nnnsklons that are not Included M Paragraph 2. Borcower shail pt►y these �
<br /> ., y...o���.�.o�,.o. ... .........,�_. _..�e--• - - - •
<br /> � obligetbns on time dkectly ro the antity whbh Is owed ihe payment. If fallure to pay would adversely eNect Lender's hterost 4i -
<br /> I �•---.
<br /> the Prpperty,upon Lsnder's�equest Borrower shflll promptly lumish to Lender rece�pts evidencing theso payments.
<br /> �, If Borrower falis to meke these payments or tho paymente roqufrud by Paragraph 2, o� �afls to �eAOrm nn�� other covenents �
<br /> � and agreements Contained fn this Security Instrument,or Ihera Is a legal proceeding thnt may sigNficantly aHect Lsnde'S rl�hts In
<br /> the Property (suCh as e proceeding in bankruptcy,for condemnelbn or to enforce �aws or regulatlons),tho;� Lrnder may do end �
<br /> _ pay whatever is necessary to protect Ilie value of the Property and Lender's rights � the Property, including payment of texes,
<br /> = hazard insuranCe and uther itoms monlionad in Feragreph 2.
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