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<br /> Lender may, et any tkne, collsct and hold amounts for Eecrow It�ms In an apprepate emount not to excaed tho maxlmurn
<br /> omount Ihat may he requked for Borrower's es4 CFR Part 3500. es the�y may6beeameendsdnlromotmde to tkne (f RF.SPA'?exc pt �''°°
<br /> `� §26pt �ggl,and Impiementhp repulatlons, 2 _
<br /> that th9 cu6hbn or rsserve pe►mfttsd by RESPA lor unontbWBted disbursements or dl8bursements belore Ihe DOrrowa�6 ''��i:-:
<br /> - � p�ymanta u� avell�bM fn th��CCOUnI may not be baaed on�mounte dus tor the mortqeye haursnco prsmlum. , `,f
<br />_ „ � It the amount6 heid by Lender for Escrov+ Items exceed the amounls permitted to be held by RESPA, Lender shall account =I;�:;.
<br /> � to Borrower for ths excess funds as requfred by�SPA• �f ths tmounts of lunds held by Lender at any time ere not suHblent to ,_'j' _
<br /> p�y tho Escrow Itemc whon due, Lender may notify the Borrower nnd requke Borrower to make up the shortape�s permkted by
<br /> �. ' �''� � RESPA. rsd b thls SscurftY Indtrument. If Borcower tsndsre �'• ,
<br /> � The Escrow Funds are pbdped as addRbnal sscurRy lor aN aums secu Y ��._
<br /> ���.pw !°._
<br /> �,,,,,,��.a� to Lender the full payment ol all suoh sum�bBinc,p:���°„at=h���ha�Lsnderkhas nottbxome oblipetedrrollp�tilmen�t c-
<br /> � ' gems (a), (b), and (o) and any mortpeye rior t�a forecusure sale of th�PropartY � --
<br /> $ S�oretary,and Lendx shall prompty ralund nny exceas funds to Borcowsr. Immedktely p ' �
<br /> s or Re acquiskbn by Lender, Bonower'a account shall be crodked wRh any balnnce remaininp tor all Installments for ftama (a),(b), `�
<br /> . and(o). �
<br /> 3. Appllcatlon of Ph6mec�remwm o bte Pa�d bY Lender to thenSecre ary ae to h'e monthly cha fle f byothe SeCretary O
<br /> , '+ Fl�it,to the mortpafle
<br /> Instead of the monthy mortgage hsuranCe premlum; �
<br /> Second, to sny texes, specla� assessments, Ieasehold paymsnts or eround rents, and fke, tbod and other harard �
<br /> � Insuranca prembms,as requfrsd; �
<br /> Thltd� to htarest due under the Note;
<br /> FOU�th,to�mort�atlon of the pnc�fpat o1 the Note;�nd
<br /> � Flith,to late charges due under the Note.
<br /> r� q. Fire, Flood end Other Nezard Inwrance. Borrowar sha�� ineure o�� improvements on the Proper►y� whethw
<br /> now in extstence or suhsequentry ereCted, agalnst any hezards, casuaRies, and conthgenck�s, inciudMg fke, lor whlCh Lsnde�
<br /> requkes hsurance. This �nsurance shall be mahtained k► Ihe amounts and for the periods that Lender requkes. Borcower shall
<br /> also insure all knprovements on the Property,whethe� �ow h exlstence or subsequentty orected, egainet loss by fbods to the _
<br /> �. extent requked by the SACretary• A�� InsurenCe shell be C6rtled wRh companles epp�oved by Lender.The insutenCe polfCfes and
<br /> eny renewats shall be held by Lender and shall include loss payable cl9uses in lavor of, and in e form acceptable to,Lender.
<br /> In the event of loss, Bortower shail pNe Lende� knmedlate notfce by maN. Lender may make proof of bss N not made
<br /> r=__=__ �������=rr �� ��na;;.�., �g��, ineurance cornpany concemed is hereby authorized 8nd dkeCted to meke PeY�� h�a uCf�d bV
<br /> dfreatty ro Lender, hstead ot to Borrower and to Lender Jafntly. A�� or eny pan of thu ��s�ranca p:�c�d5 snsY PP
<br /> Lender, at Ns optbn, ekher (a) to the roductbn of the indebtedness under the Note and thia Security Inatrument, firat to any
<br />___ . delinquent amounts applfed In the�e bn ofPthoflp oceedsn}othen tPrincipel shaNOnotrextend orr(postpo e`therduend�t•oi ths
<br /> the damaped Property. Any app
<br /> • ' monthty payments whloh fl�uked tod ay 81I outstandfnq hdebtod esseunder t e Note a d thls eSecurity Instrument shall�be p Id
<br />�` proceeds over an amount req P
<br /> ta the entity lepelty entRled thereto.
<br /> � In the event of torecbsure of this Securfty Instnime�t or other transfer of tkle to the Property that extinqufshes the
<br /> • Indebtedness,all rpht,tRle and 4iterest of Borrower in and to hsurance polbies in torce shali pass to the BO�OWEI''8 LOSII
<br /> i__ „ � - b. Occupancy, Preservetlon, Maintenance end Protectlon ot the Property;
<br /> �_:•:,,.,
<br />_ . . � Applieetion; Leaseholds. BoROwer ehall occupy� establish, and use the Property as Bortowers pnc�ipal residen�nd sh II
<br /> • • � � � sbcty days after ths execulbn of this SecurRy Instrument (or wkhin sbcty days of a Ister seb or transfer of the Property)
<br /> � ` conthue to occupy the ProPertY es'IBceuse undue a dshlp�tor Bortoower,o88unless exlenuatfny ckc amatanas�exfst whbh are
<br /> ' �•�r� Lender determfnes that requkement w
<br /> beyond 8artower5 control. Borcower shall notity Lender of any extenuating crcumstances. Borcower sh811 not oommR we6ts or
<br />-_ - , destroy, damage or substantlauy change the Praperty or allow the Praperty to deteriorate, reasonab{e weer end tenr sxcepted.
<br />" Lender may „speCt the Property M the Property Is vaCant o� abandone�l or the loan I;, In defauR.I.�ander may take reasonebb —
<br /> actbn to protect and preserve such vacant or abandoned Property, Borrower shail also be in detaun ff Borrower, durhg the ban
<br /> � � epp��catbn proCess, geve materlaly false or Inaccurete iMormatlon or statemenls to Lendar (or falled to provide Lendet wRh Q�Y
<br />_ ` materlal InformationJ In connection wRh thy e8�n�pgl�residenceelNthls hSecuriry Instrumentniseonoarleaseholdt` Borroweres ag
<br /> � 8orrower's occupancy of the Property a P
<br /> ' comply w(th the provisbns of the lease. If 8orrower aCqu�es fee title to the PropBRy. the leasehold and fee title shall not be
<br /> morped unbss Lender egrees to the merger In wrRfn9• �
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<br /> , 6. Condemnatlon. The proceeds of any awerd or for conveya ce fn place of condemnatlon'are herebycesslpned and
<br /> 3 condemnation or other tskhg of any part of the PropertY�
<br /> shall be pald to Lender to the extent of the (ull amount of the Indebtedness that remafns unpaid under the Note and thls
<br /> , Security Instrument. Lender shflll epply Such P io��ee�sthe ohdeep►ovlded (ntParapr ph 9,eand then toepepaymenttof Phcpal.
<br /> instrument, first to any deiinquent amounts app
<br /> Any appllcatbn o� the proceeds to the p�M��Pa�shell not extend or postpone the due date of the monthty payments, wh�h are
<br /> relerred to in Paragraph 2, or change the amount o1 such payments. Any exCess proceeds ov6r an amount required to pay ali
<br /> . outstanding indebtedness under the Note and this SeCUrily Instrument shflll be paid to the entdy �8pa��Y ent�tled thereto.
<br />= 7. Cherges t0 eorrower and Protectfoe otth e Ade rnoc R cwcfed in Pa 89 aP p2 r8 rcower� shra I hpayp hese
<br /> � 1 governmontal or mun�ipai cnerges, iines e��4 `M�-°- - menL If feliure to pay would adversety a8ect Lenders �terest in
<br /> - � obligntfons on time directly to the ent�ty whfch is owed the pay
<br /> � the ProPerty,upon Lenders request Borrower shali promptty tumish to Lender receipts evidencing Ihese payments.
<br /> i It Borrowe�lails to make the5e paymonts or the peyments requ!{ed by Peragraph 2, or teils to perform eny other covenants
<br /> and agreements contained in this Security Instrument, or there Is a �eggl proceeding thal may s�gnilicantly aHect Lender's rights in
<br /> Itho Property (such as a proCeed�ng m bankruptcy, ��r Condemnatlon or to enlorco�aws or regulations), then Lehder may tlo and I
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<br /> pay whatever IS nocessary to proteCt the value of the Property and Lender's rfghts in the P�operty, includ�ng Feyment of tnxes,
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<br /> • ' hesArd �nsurance und other items mentioned in Paragraph • I
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