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<br /> r ate amount not to exceed the maxknum � :v;.'.►�:�f�:�.�'�"'�
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<br /> , ' Lender m�y, at any tkne, aoll9ct �nd hold amounts for Esorow Itae� {n an apy ey . �,�,,
<br /> amount that rruty be requked for Horrower's escrow account under the Real Estate Settlement Procedures Act ot 1974, 12 U.S.G. N '
<br /> T ,..�w��G
<br /> §26pt gj �@q,and Implementiny regulations, 2a CFR Part 3500, ea they may be amended hom tkne to tkrse ("RESPA"}, except �
<br /> thnt the cushbn or reaerve parmitted by RESPA lor unant�fpated disbursement6 or disbursemont8 before the Borrowar's
<br /> payment5 are available in the accoun4 may not be based on amaunts due lor the mortgaqe fnsurance premium. .
<br /> If the amounts held by Lender for Escrow ���SPAC�he 8mounts of fu ds`held by Lendebat�yP�e are nothsulHiCienluto � `,
<br /> to Borrower lor the excess lunds as requked by ' � ' �" „
<br /> pny ths EscrOw �tems when due,Lender mny notHy the Borrower and require Bonower to mnke up the shortaqe aa permitted by� t'.•,�}. ,
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<br /> RESPA. }.Y .
<br /> ��rt The Escrow Funds are pbdped as additional security for all suma eacured by this SecurRy inewment. It Borrower tenders r ,; � ���
<br /> .H�!^q+�" � � i.•::
<br /> �� . to Lender the fuli payment of all such sums, Bortowsrs �CCOUnt shall 6e credited wkh the balance remainlnq tor su instnlrnem " { �;L�;;f�---
<br /> .�`i��`_ - '-
<br /> Rems (a), (b), and (a)and any mortpage hsurance premium installment thtt Lender hfl Or�ot e��osure sale of the P opertyN f���C�,�,���iti-
<br /> Secretary,and Lender shall prompty retund eny excess funds to Bortawer. Immedletely p �I,����,,,„o�=__
<br /> or fts acqulsllbn by Lender,8ortower's account shall be credRed wkh eny bfllence remahing for all instalknents for Nems(n),(b),� .`.',��'{�� _
<br /> •:.,'�:
<br /> and(c). '°�"
<br /> 3. Appticatlon of Paymenta. All peymente under PareqrBphb t and 2 8hflll be flpplbd by Lender as folbwe: x,,�,-,,, __�__�_�.�_
<br /> Y-_—
<br /> Fl�st,to the mortpaqe hauranca premlum to be pald by Lender to lhe Secretary or to the rnonthly chupa by ths S�crel�ry �,Yyry
<br /> EwllT,-•�-—
<br /> ' fnstead o}the monthly mortgaye fnsunnce premlum; f
<br /> Second, to any taxes, speolal easesaments, lea6eho�d paymenls or pround rante, and Ilre, Ibod �nd oth�r h�urd �^-
<br /> Insunncs premiums, as requked; �
<br /> Third,to fntN�st du�undsr th�Nots; -
<br /> ' Fourth, to amoRfritbn of the prin4�pe�of the Notr,tnd
<br /> �;t-_
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<br /> Flfth,to late chaqes due under the Noto. ►�,±y._.
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<br /> 4. Fire, Flood end Other Hexard Inaurance. Borroww 6hUl {nsurs all knptovements on the Prup�rty� wh�thsr f —
<br /> �. now In exlstence or eubsequently enated, ayahst any hasarda, oasu�kfes,and conthpencles, IncUdhq ike, for which Lender ��;;�___
<br /> ��
<br /> requkes Insurance. This hsurnnce shall be mahtalned In the emounte and lor the perbda thet Le�der requkes. Borrower shall �
<br /> � also hsure all knprovements on the Praperty,whether now fn existence or subsequentiy erected,aga�nst loss by floods to the F` �_---.
<br /> � extent requred by the Secretary. All hsuranhell Include bss paya�le cyuses fn taor oe and in a�tom► e ceptable to ple�der,and f_�__
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<br /> ' any renewels shall be held by Lender and s a
<br /> �' In the event of bss, Bortowar shall pNe Lender Irnmediate notke by mall. Lender may meke proof of loss If not made
<br /> �; . prompty by Bonower• Each Insurance company concemed ia hereby outhorSZed and dkected to make payment fAr suah loss ;_
<br /> dkeoly to Lender, fnstead of to Bortower and to Lender lolntry. All or any part of tha Insurance proceeds may bs epplbd by ��
<br /> � Lender, at Rs optbn,eRher (a) to cne reductii,n of ths:drbtednss`-�n��the Note and this SecurRy Instrument, fkst to any _
<br /> a delhquent amounts spp��ed ►� the order fn Parayraph 3,and then to prepaYmenl of prhaipel,or (b)to tha restoratlan ar repair of - --
<br /> � the damayed Property. �Y aPP►batlon of the proCeeds to the princpal shall not extend or postn eneQo e exCessalnsurencs --
<br /> monthly paYmenls whbh aro roferted to In Paragraph 2, or chanye the amount of such payme Y - �
<br /> � proceeds over an amount requfred to pay all outstandinp hdebtedness under the Note and this Securfty In�trument ahell be paid __
<br /> i to the entky legely entRted thereto.
<br /> �, In the event of foreabsure of this SecurRy Inslrument or oth�r transfer of tnle to the ProPerty that exthpulshes t e �'
<br /> �y Indebtedness, au right, tkle and interest of Bortower In end to Insurence poiicles In torce shnli pass to the purohasor.
<br /> 6. Occupency� Preservation, Malntenence and Protection of the property;
<br /> Borrower's loen
<br /> , , AppUcation; Leeaeholda. Bonower shalnstru e�t(orawflhfn sbdy dayshol ar�aten sale or�t eesfes ofr he Property)�nd hdll
<br /> - sbcty days after the executlon of this Secu dy
<br /> � continue to occupy the Property es Borrower's Prinofpe� resldence tor at least one year after Ihe date of occupanay, unless
<br /> ,� Lender detertnines that requkement will cause undue herdship lor Barower, or unless extenuatfng ckcumstances exist whbh are �
<br /> � I beyond Borrower's corttroi. Borrower shall notHy Lender ot any extenuathq akcumstances. Borrower shali not Commft wasts or
<br /> I destroy, d4maye or substantlally chanpe the Property or aliow the Property to dete�brate, reesonabb wsar and tear excapted. _� �
<br />_ ��#I Lender may inspeCl tho Property if the Prpperty is vaCent or flbandoned or the ben is h defauA. Lender may teke reasonable �- �-
<br /> ^ L actlon to protect and preserve such vacant or abandoned Property.Bonower shall also be h delouR if Borrower,durinp the toan _
<br />=y � �' � applicatbn process,gave materialty faise or inaccurete htormatbn or statements to Lender(or falbd to provWa Lender wkh eny �
<br /> material Intormetbn)in connectlon wkh the ban evldenced by the Note, Inch�dinp, but not IknRed to,representatbns concemfnp
<br />- , . �• �,L
<br /> Borcowers occupancy ol the Property as a principal residence. If lh is S e cu r dY �n s t r u m en t is on e basehold. Borrowe� shell P w'_f -
<br /> �- .. f ri_.._�_���_
<br /> � aomply with the provfsbns of the base. If Borrower eCqukes fee ttlls to the Property, the leasehold cnd fee titie shell not e _ ,
<br /> merged unless Lender agrees to the mer9er In wrRh9• �„�.,...,�.�r-
<br /> �,._v.__
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<br /> 6. Condemnetion. The proceeds of any award or clakn for damages, dkect or consequentlal, in connectlon w anY �,'�v``
<br /> c�ndemnetlon or other taklnp of eny p6rt of the Property, or lor conreyance k�P�ce ot condemnatron, ere hereby ass�pned and
<br /> �_-
<br /> - shall be paid lo Lender to the extont of the full amount of tha hdebledness that remains unpald under the Note and this ��;��-: ;..i
<br /> ...-wr'I;•�YF' .
<br /> � Security Instrument. Lender shail applY such proceeds to the reductlon of the indebtedness under the Note menttot prk�icipal.
<br /> Instrument, fkst to any delinquent amounts applied k�the order provided fn Paragraph 3, and then to prepey
<br /> � Any app�bation of the proceeds lo the pnc�lpal shall not extend or postpone the due dato of Ihe monthiy payments, whbh are ,
<br /> � referred lo in Peregraph 2, or Change the amount of such paymenls. Any exCOSS proceeds over an amount requMed to pay atl
<br />__ � outstundng ��debtodness undor ihe Note and this Security Instrument �hell be paid to the ontfty�e9ally entitled thAreto.
<br /> � 7. Chargea to Borrower end Protection of Lender's Rights in the Property. eorrower shell puy an
<br />� ; governmontal or munic�pal charges, ��es end anposdfons that are not included �^ould adver oly8affect LendBrlspnt r St in
<br /> 1 ..ti�Horinne nn time d(rectly to th0 Bntity whfch is owed the pflymenl. If lalluro IO p�Y _^M��Ne�o�avmants. `
<br /> •, --•�-•- - - - __ .
<br /> . ithe Proporty,upon Lendor's roquest Borrower shali promptly�urnish to Lend PQfB tlB`h 2�,'or'faf15 to pertorm any other Covenants
<br /> � If Oorrower falls to make these pByments or the paymenis roqulred by 9 p S ��fkentl atfeCt Londer'S��ghts In
<br /> 'i
<br /> and agreements contained� thfs SeCUrity �nstrument,or there Is a�egal praceeding thut may q ' Y
<br /> - tho Property (such as a procevd�ng N bankruptcy, tor condemnstion or to enfarCe �aws or reguat�ons), tF�en Lender may do an I
<br /> . 1� pay whetever IS necessary to protect the vawe of the Property and Lender'S rlphl5 In Ihe Property, includfng payment of texes, i
<br /> harartl nsuranca end olher items mentionod�n Peragreph 2• I
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<br /> P�g• 2 0l S I .
<br /> FSO�J.LMO(0/B71 I �
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