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<br /> �. Nlonthly Paymen#of TaxQs, ln�uranceand�ther�harges.Borro�ver sha11 include in each month�y
<br /> paym�nt,together�ith the pr�nc�pal and interes�as set forth in the No�e and any late charges,a sum for
<br /> �a}taxes and s�ecial assessmen�s�evied or to be�.evi�d against the Property, (b�leasehal�payrnents or
<br /> g�raund rents on the Pr�perty,and(c}premiums for�.nsurance required under paragraph 4. Tn any year�n
<br /> �vh�ch��e L�end�r m�st�aay a r�artgag��nsurance p�emium to the Secr���.r�of Housing an�Urban
<br /> De��laprr��nt("Secre�ary"),or in any year in�hich such prem�um would have be�n req�ired if Lender still
<br /> held the Security Instrument,each mon�hly pa�ment shall a�so include either: (i}a sum for the annual
<br /> mortgage insuran�e premium��he paid by Lender to the Secretary,or�ii}a mon�hly�harge�instead�f a
<br /> mor�gage i�asurance premYum if this Security Instrument is held by the Secretary, in a reasqnab�e amount�Q
<br /> be determined by the Secr�tary. Except f�r the monthly charge�y�he Secr�tary,these items are called
<br /> "Escrow Items"and�he sums paid to�,en.der ar�ca��ed"�scrow Funds."
<br /> Lender may,at any�ime,col�ect an�.hold amounts for Escrotiv Items in an ag�regate amount not to e�ceed
<br /> the maximum amount�hat may be requ�red far Borro�rer's�scro�account under the Rea�Estate Settlem�nt
<br /> Procedures Act of 1974, 12 U.S.�. Section�6Q� e�.seg. ar�d�mp�ementing regula�ions, I2 �.F.R. Part .
<br /> 1�Z4,as the�r may be amended fram time to time("�ESPA"}y except that the cushian�r reserve permi��ed
<br /> �y R�SI'A for unanticipated disbursements�r disburseme�.�s b�f�re the B�r�flwer's ga�ments are ava��a��e�r�
<br /> the account may not be based o�a am�unts due far�he mortgage insurance prenlium.
<br /> If the am�unts held by Lender far Escrow Items e�ceed the amounts permitted to be he�d by RESPA,Lender
<br /> . shall account to Borrower for the excess funds as requ�red by RESPA. If the amaunts of funds held by
<br /> Lender at an�time�re no�suffic�ent to pay the Escrow Items�h�n due, Lender may notify the�orrawer
<br /> and re�u�re Bo�-r��er t�make u�a the shortage as�e�m�tted by R.�S�'A.
<br /> Th�Escraw Funds are�ledged as additianal security for al1 sums s�cured b�this Security Inst.run�ent.
<br /> If Borro�er tenders to Lender the fu11 payment af a11 such sums, Borrayver's accaunt sha�l be cre�it�d with
<br /> the balance remaining for ail installment items�a�, �b},and�c}and any mQrtgage insurance premium
<br /> inst�.l�ment that Len�er has not becanle abligated to pay t�the Seereta.r�, and Len�er shail pr�mptly
<br /> r�fund an�excess funds ta B�rr��ver. Imme�iatel�prior to a forecl�sure sale af the Property or its
<br /> acquxsit�on by L,ender,B�rro�er's account shall be credited vUith a�ny balance remain�ng for a11 insta�lm�nts
<br /> for�tems(a�, �b},and(��. �
<br /> 3. A�ap�icationof Paym�nts.Ai�payments under paragraphs I and z shall�e applied by Lend�r as fol�aws:
<br /> First, to the mor�gage insurance prem�urn to be paid by Lender to the Secreta.ry or to th�month�y charg�by
<br /> the Secr�ta.ry instead of th�mo�thty martgage rnsuran�e premium;
<br /> Secon to any�axes, speciai assessments, Ieasehold paymen�s�r ground rents, and fire, fl�vd and o�her
<br /> hazard insurance pr�miums,as re�uu'ed; `
<br /> Third, to in�erest due under the Note;
<br /> Fourt�, t�amor�r�a��or��f the pr�n��pa�of t�e�Vote; ar�d
<br /> Fi#�h, t� late charges due under the Nate.
<br /> 4. Fi�'e,Floadand C�ther Hazard lnsurance.�arrov�rer sha�l insure all improvements�n the Property,
<br /> wh�ther novv in existence Qr subsequently er�cted, against any hazards, casua�tie�,and cantingen�ies,
<br /> including fire, for wh�ch Len.der requ�res insurance. This insurance sha11 be maintained in the amounts and
<br /> far the periods that Ler�der requires. Barrower s�a��a�so�nsure a.�� xmpra��ments or�the P�Q���,�vhether
<br /> no�v in exis�ence ar subsequen�ly erecte�,aga�r�st loss by floods�a the extent required by the Se�re�ary, All
<br /> insurance sha�i be carried�vith comp�.nies appro�ed�y Lender. The insurance palic�es and any renewals sha��
<br /> be he�d b�L�nder and sha1�include loss payable ciauses in fa�or of,and in a form accepta.ble to,Lender.
<br /> FHA Mort a e WlTH MERS-NE � Re�ised 419fi
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<br /> VMP� VMP4N[NE)(13n2}_Q�
<br /> l�lolters Kfuwrer Finan�ial 5ervices qn33�$1615�� �233 39� 0324 Page 3 af 1�
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