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��14��953 Z. ll�onthiy Payment of Ta�xes, Insurancsand�ther�harges.Borrower sha�1 includ�in each m�nth�y payment,together with the princ�pal and interest as set forth in�he Note and any late charges,a sum for (a}taxes and sp�cia�a�sessments�evied�r to be levied again�t the Propert�,�b�leaseha�d payrn�nts ar ground ren�on the Property,and�c�premiums for�nsurance requir�d und�r paragraph 4.In an�year in whi�h the Lent�er must pay a mortgage insurance premium to the Secretary af I�ousing and Urban Development("Secretary"),�r in any year in wh��h such premium wau�d have been required if Lender sti11 held the Security Instrument,each manth�y payment sha11 also in.clude either: �i}a sum for the annua� mortg�ge in��an�e premium to be paid by Lender to the Secretary,or�ii}a monthly charge inst�ad of a mQrtgage in�urance premium if this Securi�y Instrument is h�td by the Secre�a�.ry, in a reasonab�e amaunt to be determined by th�Secretary. Except for the monthly charge b��he Secretary,these items are called "Escr��v Items"and the sums paid to Lender are called"Escrow Funds." Lender may,at any ti�e,collect and hold amounts f�r Escrow Items in an aggregate am�unt nat to exceed the maxirnum amount that may be requued for Borrawer's escrow accaunt under the Real Estate�ett�ement Proc�dures Act of 19'�4, 1�U.S.C. Section 26�1 et,seq. and�mplementing regula��ons, 12 C.F.R. Part 102�,as they may be amended from time to time("RESPA"), except that the cushion or reser�e permitted by RES�'A far unanticipat�d disbursements or�lisbursements befare the�arr�wer's pa�ments are available in the acc�unt may not b�based on amounts due for the martgage insuran.ce premium. If the amounts held by Lender for Escrow It�ms exc�ed�he�mounts p�rmi�ted to be held by RESPA,Lender shall ac�ount to Borro�rer far the exces�funds as required by F�ESPA. If the amounts of funds held by Lender at any tim�are�ot sufficient to pay the Escrow Items when due,Lender may notify the B�rrower and require�3�rrovr►��r to ma�e�p the s�ortage as permitted�y�ESPA. The Escro�Funds are pledged as additional security for a��sums secur�d by thiS Security Instrument. If B�rrower tenders to Len.der the fu��payment of ail such sums,Borro�ver's account shall be�xedited with the balance remaining for a11 instaliment items(a), (b�,and(c�and any martgage in.suranc�prernium installment that Lender has not become obligat�d to pay to the Secr�tary,and Lend�r shall promptly refund a�.�ex�ess funds to Borro�ver.I�ntnediatel��r��r�o a farec��os��sale of t��e�ope�or its a�quisition by Len�ier,Borrower's account shall be credited with any balance rema�n�ng for all installmen�s for items(a), �b},and(c). 3. Ap p I i cati o n vf Payments.All payments under paragraphs 1 and 2 sha11 be applied by Lender as follo�vs: F�t, to th�mortgage insurance premium to be paid b�Lender ta the S��retary or tv the monthly charge by the S�cretary instead of the monthly mortgage insurance premium; con �o any taxes, �pecial assessments, �easehald payments ar graund rents, and fue, flaod and ather ha2ard insurance premiums,as required; Thi�r ,d. to interest due under the Not�; � Four�h. �o ar�ortization of the principal of the�ote; and Fi�h, ta late�harg��due under the Note. � - 4. Fire,Floodand�ther Ha�ard Insuranc+e.Borro�ver sha11 insure all�mpr��ements on the Prager�y, �hether n�aw in exi�tence or subsequently erected,against any hazards, casualti��,and cont�ng�ncies, including fue, for which Lender requires insurance. This insurance sha11 be rnaintained in the amounts and f�f the per�ads�.hat i.ender require�.Borrovver sha11 also insute a11 improvements�n the Property,whether � nvw in existence or�ubsequently erected,aga�nst loss��flo�ds to the extent requued by the Secretary.A�1 ' insurance shall be carried with compan.�es�pproved by Lender. The insura.n.ce policies and any renewals sha�l be heid by Lender and sha11 include Ioss payable c�auses in favor of,a�d in a form accep �le to,L�nder. FHA Mo�tqage W1TH MERS-NE Re�►is�d 4l9B ��P� VMP4N[NE)�1342}.Qq WofEers Kluwer Fir�ancia�Sen►ices Page 3 nf 1� q43323�59�€�89 �z33 �97 fl3�t�