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<br /> � 98- � 1�x3
<br /> If the artwunts held by l.cnder for F.scrow lt�r,w excced !ho amounts permiued to b� held by R�SPA, I.ender
<br /> si►dl account to Borrower for the exass funds�u requlrcd by R85PA, If the emounts of fund�hetd by l.ender at�ny
<br /> time�re not sufficlent to pay the Escrow Items wheR due,Lender cn�y notlfy the Borrower u�d rcquire Borrower to
<br /> make up the sb�rtpge as permitted by RESpA.
<br /> 1'he Escrow Funds are pledged u addition�l security for all sums secund by ihi�Ser.uriry Instrurncnt. If
<br /> Bormwer tendei�s to l..ender the full payment of all such sums, Borcower's sccount sh�11 be credited with the b�lu�ce
<br /> remaining for all Installment items (a),(b),and(c)and any mongage Ins�ru�ce prcmium insuilment th�t Lender hw
<br /> not become obligaued to pay to the Secretuy. uid L.eaJer sh�ll promptly rofeand any a�ccas funds to Borrower.
<br /> Immallately prior to a foreclosure s�le of the Property or its�cqui�ition by Lender,Borrower's sccount sh�ll be
<br /> crodited with any b�lance remaining for all inat�llments f�r items(a),@).and(c).
<br /> 3�Applks�tloa ot Fnymenb. All payments undet patagraph� 1 a►d 2 sh�ll be�ppliai by L.ender as follows:
<br /> �,to the mortgxge insuruice premium to be pud by L.ender to the Secretuy or to the monthly chuge by the
<br /> Secretary inatead of the monthly mortgage insurance ptemium;
<br /> ��,to u►y taa�s,specid assessmenta, Iwehold paymC►ts or ground renu, and fin,flood and other hwird
<br /> insuru�ce premiums.as required;
<br /> Tyjm,to interest due under the Note;
<br /> �ourth,to amortlzation of the principal of the Note;and
<br /> �,to late charges due under the Note.
<br /> 4��K����1 pthe�.H�rd I�aurance.Borrower sh�ll iraure all irtnprovemenes on the Fmpe�ty,whether
<br /> now in existsnce or subsaquently erected.against any hazards,c.�sualtles.and contingencics,including fire,for which
<br /> T.endcr requices inauru�ce. This imurance shall be maintuned in the unounW and for�he parioda thu L�ender
<br /> roquires. Borrow�r sh�ll also insun all improvements on the Pr�perry, whett�.er now in exlstence or subsequently
<br /> erected, agaiust lou by�oods tu the extent reyuircd by the Secretary. A!t inauru�ce sh�ll be curied with companies
<br /> appmvod by Lender. 'I'�e insuru►ce policits and any rr•newals shall be held by �.ender md shall include loss p�yable
<br /> clausca in favor of,and in a form acceptable to, Lender.
<br /> In the event of loss,Borrower shall give I.endtr immDdiate notia by mail. Leadcr may make pronf of loas if nat
<br /> m�de procr.+ptly by Borrower. Each insurance company concern�d is he�+eby authorized u►d directed to make pxyment
<br /> rnr �uch los� directiv to Leader. instead of to Borrower and to I.ender jo(ntly, AJI or my put of the insurance
<br /> procuda may be applied by Leader,at its option,either(�)to the raiuction of the in0ebsedness w�er ci�c ivvic uu�+
<br /> this Security Instcument,first to any dolinquent amounts�plied in the order in puagaph 3,and then ta prep�ymenc
<br /> of pdncipal, or(b) to tt�e restoration or npair of the dunaged PmpenY• �Y�PP���� �f the proceods to the
<br /> principal shall not extend or postpone the dae d#te of the monthly p�ytnents whkh are refortod to in paragraph 2,or
<br /> change the w�wunt of such paymena. My excess insurance Proceeds over an arnount roquired to pay all outaw�ding
<br /> indebtednas wnder the Note end this Socuriry Instcument ehall be p�id to the entity lagdly eatitled thereto.
<br /> ln the event of foreclosure of this 5ocurity Instroment or uther truufer of tiQe to the PropeKy chu extinguishes
<br /> the Indebtedne.u, all right, tide and interest of Sorrower in ancl to iasur�nce polkks in force stuil pass to the
<br /> purch�ser.
<br /> 5. Oanponcy, Preservotlon�MalatenRnce wad Protection of the Prope.�t1: Ba�r�oNer's Lo�w Appllatioo;
<br /> I,p�aeholds. Borrower shall occupy, establish,and use�he Propeny as Bocruw�r's principil rcsidence within sixty
<br /> days tfter the execution of this Security Instrument(or within sixry days of a laer s+le or tnuufer of the Property)
<br /> •nd shdl continue to occupy the Propezty�s Bo�rower's principal residence for at leut one year after the date of
<br /> occupincy,unless Lender de�ermina that requinment will cause undua hardship for borrower,or ualess extenuating
<br /> circumstu�ces exist w�ich are beyond Borrower's control. Borrower slull ac�tify L.eader of any eacenuating
<br /> cit�curostances. Borrower shall not commit w�tte or destmy, damage or substanti�lly c�an8e the Pro�rty or allow the
<br /> Property to deteriorate.reasonable wear and tear ezcepted. Lender may inspect the P�operry if the Property is va�cant
<br /> or abandoned or the loan is in default. Lender may rake reasonable action to prestat and presecve sw.h vacant or
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