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<br /> �'��'-. It the amnunts heid by Lender f�r f?scrow ItCmR�xcced the amounts�rmittec!tu hc held hy Itt'sSf'�1,
<br /> - -'�ti I.ender ahell account to 1)orrower fur tha cxcea�funds as reyuired hy R}?.c,Pr1, If th�amuunts��f funJs h�ld hy
<br />- _�' ''� I.ender et eny time ere not euftici�nt to p�y thC I?�:raw Itcros when Jue, l.Cnder mny notify tlic:iinrrua�er+ind
<br /> .' ' ' reyuirc Borrower to meke up the shortage a5 permittrd by Rt?SPA.
<br /> - 'I'he Gsc:r��w PunQs�rC pleJged es edJiticmal:,c;curit��t�r all sums securrd by this tircurir��Instrument.If
<br />' s•;....�: �
<br /> 'LL?_'" � Rorrower tenders to Lender tha tull payment at aU vuch surnF, R�rr�wer s account�hall be credited with che
<br />- balance r�maining#or all installment items(a),(b), and (c)and any mortgage insurance premium installment
<br /> ! �"'��' that [,ender hes not be,come obligeted to pay to the Secretary, and I,ender shall promptly refund nny excess
<br /> funds to Iiorrower. lmmeciiatel� prior to a foreclosure nale of the I'roperty or its acyuisition by l.ander,
<br /> °�__,��i_ �� Iiorrower's account shall Ue credited with any balanca remaining for ull installmen�9 for ir.ems (u), (b), and
<br /> .i-'n:•"�.• �C�.
<br /> _.'�rk;r:, 3. Applicetion oI Payments. All payments under paragraphs 1 and 2 shall Ue applieJ by I�ender as
<br /> ��.r'1',;;, follows:
<br /> _;,*:;�� First,to the mortgage inaurance premium to be paid by[,ender to the Secretary or to the monthly charge
<br /> ,��,`���� by the Secretary instead of the monthly mortgage insurance premium;
<br /> _°--= - Second,to any taxes,special asse.ssments,leasehold payments or ground rents,and fire, fland and other .
<br /> _,���R�:�
<br /> haiard insurance premiums,as required;
<br /> ���`�'.�y':�� Third,to interest due under the Note;
<br /> =a-+.�';��;� Fourth,to amortization of the principal of the Note;and
<br /> r-"�-�'''"``-' Fifth,to late charges due under the Note.
<br /> �'-=-.o-,r� —
<br /> �''` 4. Pire,Flood and Other Hazsrd Insurance.Rorrower Ghall insure all improvements on the Yroperty,
<br /> t���- whether now in existence or subsequently erected,against any hazards,casualties,and contingencies,including
<br />- �=�-°�`�� fire, for which Lender requires insurance. This insurance shall be maintained in the amounts and tor the
<br />_ .•�o� periods that I,ender requires. Aorrower shsll also insure all improvements on the Property, whether now in
<br /> '°��" existence or subsequently erected,againat loss by floods to the extent required by the Secretary.All insurance
<br />°���r�'�.�� shall be cnrried with companies approved by Lender.The insurance policies and any renewals shall be held by
<br /> __��� I.,ender and shsll include ioss payabl�clauses in fevor of,and in a form acceptable to,I,etider.
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<br /> - In the event oi ioss, fiorrowCr sf�sil g�'vc j..8i'i�oi i�iuiiw2�.0 T.OL C� �� STlfl.. Z._P.__f.^.!_� !7!'�
<br />-��:-:���'� loss if not made promptly by Borrower.$ach insurance company concerned is hereby authorized and directed
<br />���._�
<br /> _ _ to make payment for such loss directly ta Lender, instead of to Borrower and to L.ender jointly.All or any
<br /> - -- part of the insurance proceeds may be applied by I,ender, at its option, either (a) to the reduction of the
<br /> indebtedness under the Note and this Security Instrument,first to any delinquent amounts applied in tlie order
<br />==��� in paragraph 3, and then to prepayment of principal, or (b) to the restoration or repair of the demaged
<br /> '�=�'�-���� Property. Any application of the proceeds to the principal shall not extend or post�ne the due date of the
<br /> `"-'�DII� monthly payments which are referred to in parageaph 2,or change the amount of such payments.Any excess
<br /> ---�-�� insurance proceeds over an amount required to pay all outstanding indebtedn�ss under the Note and this
<br />=`°'�°"'�° Se�;urity Instrument shall be paid to the entity legally entitled thereto.
<br /> —����a� ln the event of foreclosute of this Security Instrument or other transfer of title to the Property that
<br /> - �° extinguishes the indebtedness,all right,title and interest of Aorrower in and to insurance policies in force shall
<br />_�_„�,�� pass to the purchaser.
<br />---�_-.� 5. Uccupancy, Preservation, Maintonsnce and Protertion of the Property; Hiarrower's I,osn
<br /> ___ Application; Leaseholds. Borrower ehell occup�y, establiah, and use the Property ae I3orrower's principal
<br />�v - _�-- residence within sixty days after the execution of th�s Security Instrument(or within sixty days of a Iater sale or
<br /> --�.� transfer of the Property)and shall coniinue to occupy the Property as Borrower's prineipal res�dence for at Ieast
<br />--;� one year after the date of occuPancy,unless Lender determines that requirement w�ll cause undue hardship for
<br /> - - - Borro���er, or unless extenuut�ng circumstances exist which are beyond Dorrower's control. Borrower shell
<br /> �-�'� notify [.ender of any extenuating circumstances. Dorcower shall not commit waste or destroy, damage or
<br /> substantially change the I'roperty or allow the Property to deteriorete, reasonable wear and tear excepted.
<br /> -------- Lender may inspect thc Property if the Property is vacant or ebandoned or the loan is in default.Lender may
<br /> - A+���' take reasonable action to protect rmd preserve such vacant or abandoned Property. Borro�ver shall also be in
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