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<br /> L�ndor m�y,al �ny Ikn�, colNCt end hold �mounta }or Escrow Itema h o� aflflreyate ainount not to exceed the mexknum -
<br /> � �mounl lh�t may b• nquk�d lor Borrower's eacrow account under Ihs Resi Esute Settbmenl Procrdurea Acl 01 1974, 12 U.S.C. __
<br /> §�p� � � �nd imp�emsntlnp repu4�tlone, 24 CFR PaA 3500, as lhey mey be amendad from Ime lo time ("RESPA"), expepl „
<br /> that th� cuehbn or res�rva p�rmltted by RESPA lor un�ntblp�bd dieburasments or dlsbursements detore the BorrowAr's
<br /> p�yrtNnl�u��v�1kbM h lh��Caount may nol b�b�a�d on 1lmount� du� for the mortqaya haurqnCRESPA�lender shell accouni �-^
<br /> If th�emounts held by L�nder far Eacrow Items ezCeed the emount5 permitteA to be held by
<br /> to Borrowe lor the �xc�ss lunde�� roquk�d by RESPA. II the emounte of lunds held by Lender at any Ume ere not 6uHrlenl to� �.=
<br /> � pay the Escrow It�me when due,Lendsr m�y no1Hy ths Borrow�r and requke Borrower to moke up the shorteqe as permfltsd by �
<br /> r,� RESPA. �
<br /> Ths Eecrow Funds are pbdp�d �s addilbnd ssCUrtty lor ill sums e�CUnd by thls S�curBy Inslrument. If 8orrowar tenders -
<br /> � to LendN ths full paym�nt of all suah eume, Borrow�r'e acCOUnt sh�P b� oretlRsd wNh th�balanco nm�lninp for all Inst�lkn�nt� _
<br /> Rams (�)� (b), end (o) md anY moRpaqa insunnce prsmlum hstalkn�nt that Lsndar han not b�com� oblpntad to pay to th��
<br /> o�etao ulsitlon byeUnder,Borcower'd accou t shaiiabs cr�dRedBwkh �ny bal�nca taima inqt o`al0lrina a�llmen 8 or�'Rtems(�)plb)�
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<br /> 3. Applicstion of Paymen�s. All paymente under Panynphe 1 �nd 2 ehall b��pplkd by Lende�116 IplbwB:
<br /> Fif�t,t0 the moRpaye hsuranc�premlum to bs paid by L�nd�r to th�8acretary or to the monthy chup�by the Secretery
<br /> � hstead ot the monthty mortpnpe Insunnce premlum;
<br />. ,. �, SOCOI1d, to any texes, speolal assassments, Ieasehoid paymento or pround rente, and fke, flood and other hazard
<br /> ,�, fnsurpnce premiums,es requlred;
<br /> � Third, to Interest due undor the Note;
<br /> � Fourth, to amartiratbn uf the princfpal of the Note;and
<br /> Flith,to late Chflrpes due undar the Note.
<br /> � 4. Fire, Flood end Other Hezard Inwrence. BortowYt 8hall kl8ute all knprovemonts on ine Propercy, w►,•mer
<br /> now In existence or subsequenty ereoted, agahst eny hazards, casuaRles, and contlnpenoles� InCludfnp Ike, for whbh Lsnder
<br /> ' requkes hsurance. This in6urance shail 6o mahtalned fn the amounte und for the porbda that Lender requkes. Dortower 6hail
<br /> „ •�� also insure all {mprovements on the Property, whether now h existence or subsequently erected, nflainst loss by Iloods to the
<br /> extent requfred by the Secretary. All hsurflnce shall bo carrbd wRh companies epproved by Ler.der.7he hsurance pollales and
<br /> any renewals ehall be held by Lender and shaA hclude loss payable clauses h lavor of,and In a�orm acceptable to, Lender.
<br /> T ,� In the event of los6, 8orrower shall give Lender knmedfate notbe by mail. Lender may meke proof o1 loss H not made
<br /> � �__� promptly by Borcower. Each insurance company concerned is hereby authorized and dkected to make paYment tor such bss
<br /> dkectly to Lender, Instead of to Barrower eno io Ln���ior io'."�tF�. A�: as en; psR ot Rna Insurance proceeds may be applMd by
<br /> Lender, at its optfan, ekher (a) to tha reduatbn ot the hdebtedness under the Note and thls SecurRy Instniment, fkst to any
<br />� delfnquent amounts applled h the order In Pereyreph 3, and then to prepayment of principal, or(b)to the rAatoratlon or repak of
<br /> the damaped Property. Any apPliceUon of the proceeds to the principnl shall not extend or p^se tg e�y axcessalnsu ence
<br /> a monthiy payments whbh are refeRed to fn Paragreph 2, or chanye the amount of suah pey
<br /> proc:tieds over an amount requlred to pey all outstandk►q Indebtedness under the Note and thls Securky Inatrument ahall bs paid
<br /> • to the entity le0ally entRied thareto.
<br /> In the event of foreclosure of this Security Instrument or other transfer of tRle to the Property that extinpulshes the
<br /> �� ' {ndebtedness,all right,tftle and hterest of Borrower In and to hsurance polbles h force shall pass to the puraheser.
<br /> • 6. Occupancy, Preaervation, Maintenence end Protectton of the PPOperty; Borrower'a Loan
<br /> � � Appllcation; Leaaeholda. Borrower shall occupy, establish, and use the Property as Bortower's princfpai residence within
<br /> � sbcty days atter the axecutlon o(this SE+cm'Ity Instrument (or wkhln sbcty days of a later sale or trenster o}the Propertyl and sh811
<br /> � � �? continue to occupy the Property es Borcowers princfpal resldence for at least one year after the date of occupancy, uniess
<br /> Lender determines that requkement wfll cause undue hardship for Borrower, or unless exlenuating circumstances exist whiCh ara
<br /> ' beyond Borrower's control. Borrower shell notify Lender of eny extenufltfng ckcumstances. Borrower shell not CommR wsste or
<br /> destroy, damafle or substantlalty chanqe the Property or albw the Prnperty to deterlorate, reasonab�e wear and tear excepted.
<br /> � Lender may hspect the Proparty if tho Property Is vacant or ebandoned or the loen Is � defeuR. Lender may take reasonable
<br /> actlon to proteCt and preserve such vaCant or abendoned Property.Borrower shall elso be in de(auil If Bortower,durinp tlis ban
<br /> � � appifcatbn process, gave matertally false or inaccurate Informatlon or statements to Lender (or falled to provlde Lender with eny
<br /> � � � materlal Intormatlon) h connectlon wfth the loan evidenCed by the Note, hC�udrg, but not limited to, representations conCerning
<br /> - r � Bortower's occupancy of the Property es a principal residence. If ihis Security Instrumont Is on a leasehold, Bortower 6hall
<br /> Comply with the provisions of the lease. If BOrrower acquires lee title to the Property, the leasehoid and lee title Shall not be
<br /> merged unle55 Lender agrees to the merger In writing.
<br /> � 6. Condemnetion. The proceeds of any award or cla�m for dameges, direct or consequentlal, h conneCtlon with uny _
<br /> candemnation or other teking ot any part of the PrOperty, or for conveyance in place o}condemnation,are hereby asslpned nnd _
<br /> shall be pald to Lender to the eutent of the �ull amount of tne hdebtedness that remafns unpald under the N�te and this
<br /> Security Instrument. Lender shall apply such proceeds to the reductlon of the tndebh 30and then toep epaymenttot pr'inC�paL
<br /> �, Instrument, fkst to any delfnquent smounts applied M the order provlded h Paragrap
<br /> � Any appl�atlon of the proceeds to the principal sheli not eMend or postpone the due dato of tho monthly pnyments, whfch are
<br /> i referred to in Paragraph 2, or change the amount of such payments. Any excess proceeds over en amount requked to pay all
<br /> : { outstanding indebledness under the Note and this SecurRy Instrument shall be pald to the entity �e8ally entit�ed thereto.
<br /> I+ 7. Charges to Borrower and Protectfon of Lender's Rights fn the Property. sor�owe� shail pay all
<br /> J �,,.,nrnmwntal or munlcbal Ch6rpes, fine5 end �poSitionS thet flre not NCluded in PflrBgraph 2. Borrower Shnll pay these
<br /> l ...,.�.,:c inmrnet in
<br /> I obli�atfons On time d�rHCtly to the entity whfCh is owed the payment. I� talNre lo pny wouid n�v6�aot� o.�.."2 :...••.--•- --•---�
<br /> 1 lhe Property,upon Lender's request Borrower shall promptty fumish to Lender receipts evidencing these payments.
<br /> I II Borrower fails to make these peymenls or the payments requked by Paragreph 2, or fe�s to por�orm any other covenants
<br /> – � end apreements contnined in this Security Instrument, or there is a lega�procesd�ng thal may sfgnifica�t�y aNect Lender's rfghts ��
<br /> , the Property (suCh es u proCeoding in bankruptcy, }or condenination or to onforce laws or regulal�ons),then l.ender may do end
<br /> pgy whfitever iS �oCessury lo proteCl lhR v0.1ue ol the Property a�d Lender'S rightS in Ihe Property, including pnympnt Of taxeS,
<br /> hazard �nsurance end other ilems menlioned in Peragraph 2.
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<br /> 1 FSB�JLMC310/07)
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