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��14�4SS� �. AAonthly Payment af Ta�ces, fnsuranceand�ther Char�es.Borro�ver�h�11 include in each monthly payment,toge�her with the principal�.nd�nterest as set for�h in the Note and any late charges,a sum for �a}taxes and special assessments levied or ta be levi�d aga�nst the Pr�p�r�, �b}1�aseho�d payments or ground rents on�he Prop�y,and(c)premiums for insurance required under paragraph 4. In any year in whic�the Lender must pay a mor�gage insuranc�premium to�.e Se�reta�y of Housxng and Urban I3e�elapnnent�"Secretary"},or in any year in which such premium would have been requir�d if Lender st�� held the S�curity Instrument, �ach manth�y paymen.t sha1�ats�include e�th�r: [i}a sum far the annu�.l mortgage�nsuranGe premium to be paid by Lender to the Secretary,or(ii)a monthly charge instead of a mortgage insurance premium�f th�s�ecurity In.strument is heid b�the Secretadry, in a reason�.b�c amount to be determined by the Secreta�ry. Except fQr the month�y cha.xge by th� Secretary,th�s�items are catled "Escrow�tem�"and th�sums paid ta Lender are�alled"Escr�w Funds." Lend�r ma�,at any time,collect and h�ld amounts for Escr�w It�ms in an aggregate amount not to exceed the ma�imum amount that may be re�ui.red for Borro�ver's escrovv account under the Rea1 Estate Sett�ement F'rocedures Ac�of I 9'74, 12 U.S.�. Section 26�1 et sec�. an�implementing r�gu�ati�n.s, �2 C.F,R. Fa�rt 1��4,as th�y may be amended from time to time("RESPA"),exc�pt that the cushion ar reserve permitted b�RESPA for unanticipated disburs�m�nts or disbur�ements befare the Borrower's payment�ar�avai�able in the acc�unt may nat�e based on amounts c�u�for the mortgage insurance prenuum. If th�amounts held by Lender for Escrow Items exceed�he amounts permitted to be he�d by RESPA,Lender shall accaunt to Borr�wer for the exc�ss fuads as requir�d by RESPA. If the amounts of fund�held by Len�er at any time are not suffic�ent to pay the Es�row Items when due,Lend�r may notify the Borrawer aad r�qu�e Borro�ver to make up the short.�ge as permitted by RESPA. The Escrow Funds are pledged as additional security for a��sums�ecur�d by thi�5�curity In�trument. If Borrawer tenders to Lender the fu11 paym�nt of all such surns,Borrawer's account sha1�be credited with the balan�e remain�ng for ail installment items�a), (b),and(c)and any mortgag�insuran�e premium instal�ment that Lender has not b�com�abligated to pay to t�� Secre#aYy,an�Lend�r�hall promptl� refund any exces�funds t��rr�wer.Immediat��y pr�or ta a forec�osur�sal��f the Property or its acquisit�on by Lender,I�orrow�r's account shal�be credrted�vith any batance remainin�for all in�ta.11rnents for items(a�,�'b},and�c}, 3. ►Q►ppl�catianof Payments.A11 payments under paragraphs I and 2 sha11 be applied by Lender as fo��o�vs: � to tb.e mortga�e u�suran�e premium ta b�paid by Lender to the Secr�#ary or ta the monthly char�e b}r the Secretary in.stead of th�manth�y mortgage insuranc�premium; t�any ta.xes, special assessments, �easeho�d payments or ground rents,�and fir�, flood and other hazard insurance premiums,as requir�d; �, to interest due un�er the 1�Tate; l�,t to amortization af th�pr�ncipal of the Note; and �, to late charges due under the Not�. 4. Fi re,Ftood and Qther Hazard I nsu rance.Borrow�r sha��insure al�improvements on the Property, whether now in existenc�or subsequently ereeted, against any hazards, casualties,and contingencies, including f�re, for which Lender r�quit�s�nsurance. This insurance sha11 be maintained in�he amaunts and for the periods that Lender requires. Borrower shall a�so insure a�l impr�vements on the Property,whether naw in existence or su�s�quen�ly er�cted,against Ioss by floods�o the extent requir�d by the Secretary.A11 insurance�hal�b�carri�d w�th comparues approved by Lender. The�nsurance polici�s and any r�ne�vals sha�l be held b Lender and shall inc�ud�lass a ab�e clauses in favor of,and in a form acce table to,Lend�r. FHA Mart�a�e WITH MERS-NE R�vised 4�199 VMP� V�!lP4N(NE)�1302].�4 Woite��{l�wer Fir�ancia�S�n+ic�s Page 3 of 1� q 4l 1 4 Q 3 4ll 3l