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��14�5999
<br /> Z. �Ilonthly Paym+ent of Taxes, Insuranceand�ther�harges.Borro�ver sha�l inGlude in each monthly
<br /> payment,t�get�aer�rith the princig�,l and inter�st as set fo�t.h�n the N�te�n�an�late�harges,a sun�for
<br /> �a�taxes and specia�assessments levred or to be 1e�Yed aga�nst the Praperty, �b} lease�aa�d paymen�s or
<br /> ground rents an the Prapert�',and�c)premiums for�nsuran�e reyuired une�er paragraph 4. In any year��
<br /> v�hich�.h�Len�er m�st pay a mortga��e insurance premium ta th�Secret�ry af Hous�ng an�.U��an
<br /> Y]e�e�opment("Secretary''},or in any year in wh��h such premium wou�d have been r�qu�red if Lender still
<br /> held the Security Instrument, each month�y payment shal�aiso include either: (i}a sum fpr the annua�
<br /> �nortgage insurance premium�o be pai�.b�r�ender ta the Secreta.ry,or�ii�a monthly c�.arge in�s�ead of a
<br /> mortgage insu�rance premium if this Security�nstrum�nt is held by th� Secretary, in a reasonable amount ta
<br /> be determined by the S��retary. Except for the manthly charge by t�e Secretary, these items are called
<br /> "Escraw Items"'a�d the�ums paid to Lender are ealled "Escrow Funds."
<br /> Lender may,at any time, collect ar�d ho�d amounts far Escrow It�ms in an aggregate amoun�no�to exceed
<br /> the rriaxi�t�m amount that may��required for Borro�er's escro�acco�.nt u�der the Real Estate Settlement
<br /> Procedures Act of 1�74, 12 U.S.C. Section 26�� et.se�. and xmpl�rr�enting regulations, 12 C.F.R. Part
<br /> 1��4, as they may be amended from time�a t�me�"RESPA"}, except�hat the cushi�n or reser�e permi�t��
<br /> by R�SPA far unanticipa�ed disbuar'sements ar disbursements before the Barrower's payments are avai�able in
<br /> the account may not be based on amounts due for�he martgage insurance premium,
<br /> If the amaunts�eld by Lende�for Escro�v Items e�ceed�he�m�unts permitted to be hel�b�RES�'A,Lenc�er
<br /> sha�1 accaunt to Barrower for�he excess funds as required by RESPA. If the amaunts of funds h�ld by
<br /> Lender at any t�me are not suf�cie��to pa�r the Escrow Items when due, Lender may t�ot�fy the Borrower
<br /> �nd requ�re Borrovver to ma�e up the sht�rt�.ge as permitt�d by R�SPA.
<br /> �The Escro�v Funds are p�edged as additiona� security for a�l sums secured by this Security Instrume�t.
<br /> �f Borrower tenders to Lender�he fu�1 payment of a�l such sums,�orro�ver's account shall be credited with
<br /> the ba�an�e remain�ng for a�� ir�sta�lment items(a}, (b},and�c}and any mortgage insurance premium
<br /> ins�al�ment�hat Lender has not�aecame obligated ta pay to the Secr��ary,and Lender sha11 prorrYpt�y
<br /> r�fu�d an�r excess funds to Bo�rower. �m�edi�tel�prior to a foreclasure sale of the Pr�perty or its
<br /> acyuis�tion by Lender, B��-ro�ver's account shall be credi�ed tivith any baiance remaining for a�l insta��ments
<br /> for items(a}, (b},and��}.
<br /> 3, Applicat�anof Payments.A11 payments under paragraphs � and 2 shall be ap�lied by Lender as follo�s:
<br /> F�rst, to the mortgage insurance premium t�o be paid by Len�ier to�he Secre�.ry or��the monthly charge by
<br /> the Secretary�nstead of the month�y mortgage�nsurance premium;
<br /> Secon ta any taxes, special assessments, lea�eho�d payments or ground rents, and f�re, flood and other
<br /> hazard�nsurance pre�iurr�s,as required;
<br /> Third, to rnteres�due under the Note;
<br /> Faurth, to amortization of the princ�pal of the Note; and
<br /> F fth, t� 1a�e charges due under th�No�e.
<br /> 4. Fire,F�ovdand�ther Hazard lnsurance.Sorrawer shall �nsure all impro�ements on the P'roperty,
<br /> �vhether naw in e��stence ar subse�uently erect�d, against any hazards, casualties,and contingencies,
<br /> including fre, for which Lend�r requires in.surance. This insurance sha�1 be rr�aintained in�he amounts and
<br /> for t�ie periads that Len�er requires.Barrower shall also insure a11�mprovements on the Proper�y,whether
<br /> now in existence or subsequently erected,agains�loss by floads to the�xtent requ�red by the Secretary,All
<br /> ir�surance sha11 b��arried with companies approved by Lender. The insurance pa�icies and any renewals sha11
<br /> be h�1d�by i,ender and shall inc�ude lass payable clauses in favar of,and in a form acceptable to,Lender.
<br /> FHA Mortgage VIIITH MERS-NE �� Re�ised 419fi
<br /> VAIIP C�7 VMP4N[NE)�1342}AU
<br /> Waiters Kiu►�rer Financia!5ervices Page 3 ofi 1�
<br /> q�33311��141 �z33 29� �31�
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