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��14�5395 <br /> 2. I!A ar��h�y ��ym�n� �f 7'����, ��������� ��� �]�h�� �������o �orr�v,�e� �hall include in each rno���f�ly <br /> payn�et��, to�e�he�•with�he�ar��ncrpa� and int��•e�t�s set fo�•�� i��tl�e No�e and ar�y late clza�•ges, a su�r�for <br /> {�} taxes ar�d spec�a� assess����i��� I ev i ed �r�� ��� ���,�i�d a�;ai��s�tl�e Pro���r�y, �b� l easeho�d paymer�ts a�- <br /> b��our�d ret�ts o�� t��e P�-ape��ty� at�d �c}'��t•����iu��zs fa�• r���ura��ce re�{ui�•ed u��d�r•parag�aph 4. In any yea�- in <br /> vv��icl� the L�nde�• tl�ust��ay ����o��tga�e ir��su�-ar�ce���-e���iu�r� ��#:��� 5���-eta�-y of Hausin�;and Urban <br /> Devel op��nei�t(„5e��•�ta�•y"�, ��� i rt� a��y y�a�• ir� �vi��ch st�c�� ��t-c����i ur�� wauld l�ave bce�� t•ec�ui�•ed if Lender s�i t� <br /> ��eld tl�e Se�urit�r I��stt•ut��e�-��:, eac�� ���a��tl�ly �a��������:���a�� a�so ii�cl�ide �ii.���t-: �i} �.sutr� for�he annual <br /> ����x-��;a�;e i��sur-anc� ���•e��r��ur�� �o be }��id by �.er�de�•to th� ��c��eta�-��, a�� �i�} a�r�on�hly cha�•ge�ns�ead c�f� <br /> n�o����;age i��surance pre���L���� if��his ��curt•it�r i��s�r�i��-ie��t is I�eld by ti�e �ecre�ary, in a�-easox�able a�noun�to <br /> be de�e�•���ined by���e Sec�-eta�-y. L;��ep�:�F���-���e���o���I�ly �I�a.���e �y���e�ecretary, tl��se i�ems a�-e ca�led <br /> "Esc�'o���e��s" and Cl�e sur��s���id tc� T_,e��de��at-e cali�d "�s�t-ow Fui�ds." <br /> t..endex-���ay, at any���nc, coll�ct a��d 1���d �.inounts f��- ��scz•ow rte���s in ar� a�g�•��a�e at�noun� naf:�o exc�ed <br /> the n�axir����m arz�au��t t�1at�n��� i�e t-ec��uit-cd for l�c�t-�-nwe�-'s��c�•�w accc�u���u��d�r the Real F�state Se��[emen� <br /> Yrocedu�-es Act af 1974, �? t�.�.C. SEc�io�� ?6U� c�,sc�c�. and i���pl��z�e���c��7�; r•e�ula�iaz�s, l? C.F.R. Fa�-� <br /> ��24, a5�k�ey���ay Ue ai�n�nded fi-o��� �i11�e�c.��it���("�I~.�i�A"}, e�cept ihat t��e�i�sl�ion or�-ese�-ve pez-�ni��ed <br /> l�y ��",SPA fo�•ur��i��i�ipatec� c�is����•se�r��i�ts nr dis(�����se���e���s befo�•e t��� �3o�-t•owe��'s pay�r�en�s a�•e avaiiahle in <br /> the accourt��n�ay tlot l�e k�ased a�� ax��oun�s duC iot-��-�e ���o�-��;a�e ���su�-ance p�e�nium. <br /> If'���c am�u�lts held hy ��ende�- f��� F�scz-��I�en�s exce�c� �lrt� a���o����ts pEt-n�itt�d to be��e1d �y RESPA, Lender <br /> s��all accoun��a B��•�•owe�• fot•�he excess funds as���au��•�d �y R��PI-�. �f�he ar��ounts of fupds he�d by <br /> �..�e�-�der a�.a��y t����e a�e i�o�sL�fiicie��t La ��ay�l�e �scro���.e����v►��-�e�� d�.x�, Le��der-���ay z�o�ify���e Borrower <br /> a��c� re��i�r�Borrov�r��- �� �-��ake up tl�����ort����s�ae�����t�ed by�E�PA. <br /> The Es��•ow T'unds are p�ed��d as adc�it�����1 s���u��i�y fo�- all su���s secut-ed �y�l�i� Securi�y ���stru���er�t. <br /> �f Borr�we�•tendet•s to L��7dex° �l�e fi��1 ��ay������t of al 1 su�h sur�s, �o�•�•o�e�•'s a��ount shal� be credited with <br /> �h� laalar�ce�•emaii-�i��g far aI� i�zs�ali���ez�� i��;ms �a}, �v}, a��� �c} aY�� any ���or�gagc insurance prct�lium <br /> i nstal l m��z�t}�a�tlert�der l�as ��c�� becot��e o�l i�at�d �o pay�ca t�1�; �c�:�-�:t��-�, a��d Lende�• s��all prompt�y <br /> x•efund a�����cess funds �o �3o�•�•awe�•. Im��ncdia�e�����•i�t-t���o�•e�losu�•e sale of the Propet�ty or its <br /> acc�u is�ti an by t�ender, �3o�-rov��;f•'s accou��t slzal� �ae �.�-�c�i�:c�� �vi t�� a��}� Laal a��ee re�l�ai��ing far al l i��stal l t�ie�lt� <br /> for il:er�ls �a}, �b}, a��d �c}- <br /> 3. Ap�����tion of ��ym����� All ��ayr�l���ts under �a�-��;ra���� 1 a��d ?s��a�� be a�plied lay L���der as foIlov`rs: <br /> �~��•s�, �.C�tl�e n�or�bage i i�su�•atz�e pt•e��-���u�-�� �o�c��ai c� �� �,e��de�•tc��i�e��cretar��or�a th�rnon�h[�charge�ay <br /> th� Se��•e�ar� i��stead of t�e inonthly z��a�•��age insu�-�.t-�c���-e���iu�n; <br /> Secor�d, to any#axes, s��ecial asses�me�7�s, leas�l���d pay���er��s o�- �;r�n��r1d re�l�:s, ar7d fi�•�, flood and athe�• <br /> ha�ard i��surance pr�ez�t��u���s, �s rcc�ui r-e;d; <br /> Th��-d, �a ix�teres�t du�u��dea� ����N��te; <br /> Faurtl�, to an�orti�atio�l ��f�he p�-iz�c�paf c��T ti��;�a�e; a��d <br /> r�f�h, to late cl�ar�es d�7�: u��dez��he No��. <br /> 4. Fa��a F���d a�d C)�he� H��a�'d l�ts��'�r���o Ba�����we�A s��a�l i��su�•e all i�z�p�•a�emen�s or� the Pr�pet�ty, <br /> w�e���er t�ow i�� exis����ce�t-s�7bsec���e�-��:i�e��ectec�, a�;ai����t3���� ha�a�•c�s, casua���e�, a�1d contingenc�es, <br /> �����udi��g f��•e, for wh�ch Lend��• k•ec�u��-�s ir�s��ran��. �l�is insu�•a�.��sha�� be tnain�a�ned �n�he a�noun�s and <br /> fo�•�l�e periods�I�at Le��d��- �-Gc�u��•cs. �3o�-t•av��:r s��a�� also ��-�su��c a�l i��-��rav�i��e��t� �t�the P�-opertyn �vhet���r <br /> �-�o�f i��exis�e���e or�ubse:�ue��tly ���ec��d, a�.ail��� loss�y �oods�c7 �1���xtetlt requi�ed by t��e 5ect-etary. All <br /> i���u�a��ce shal� be�:arricd wit�� ca�����a��i�s a��p�-c3��d l�y I.,e��de�-_ �'i�e i��s���at�ce��olicY�s a��d �ny r�nev�a�s shall <br /> b�helct by Lendert• at�d s��al l ���clude ias� p�.��ab!e cl a��ses i��t fa�ro�• of, a��d i rt� a�o�•rn accep�able�o, Lende�•. <br /> 8801G�5141 �� 8809�25�4� <br /> FHA M origaye W ITH M ERS-N� "�""°���'� H�m Revised 419� <br /> VMP� � VMP4N�N�}{T302J <br /> WoEters Kluw er Financial S�rvices Page 3 of�� <br />