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��14�753�
<br /> �. Il�lvnthly Payment of 7axe�, Insuranceand�ther�Gharges.Barrovv�r sh�I�include in each monthly
<br /> paym�nt,toge�her�rith the princ�pal and in�erest as set fartb in the Na�e and any late charg�s,a sum for
<br /> (a)taxes and special assessm�n�s�e�ied or to be levied against the Property, (b�leasehold payments or
<br /> ground rent5 an the Property,and�c�premiums far insurance required under paragr�ph 4. �n any year in
<br /> which the Lend�r mus�pay a m�rtgage insurance premium�o the Secretary of Hous�ng and Urban
<br /> � De��lopment("Secretary"},ar in any year in�h�ch such premium vvould ha�e be�n requu'ed�f Lender sti11
<br /> � held the Security Instrumen�, each month�y payment sha1�a�s�include�ither: ��}a sum for the annual
<br /> mortgage insurance premium�o be paid by'Lender to th� Secretary,or(i�)a monthly charge i�stead of a
<br /> � mort�age insurance premium if this Secur�ty�nstrument is held by the Secretary, in a reasonable amoun�to
<br /> be d��ermined by the S�cretary. Except for the monthly charge b�the Secretar�,these items are ca���d
<br /> ►'Escro�Items" and the sums paid�.o Lender ar�G�ll�d"Escro��Fu�.t�s."
<br /> . Lender rnay,at any�ime,co�lect and hold amounts for Escrow Items in an aggregate amaunt n�t to�xceed
<br /> the maximum amount tha�may be require�l for�3orrower's�scr�w account u�der�he R�al Es�ate Settlerrient
<br /> Procedu�es Act of 1974, 1�U.S.�. �ection 26�1 et,�eq. and�mplementing r�gu��tions, 1� �.F.R. Par�
<br /> ���4,as th��may be amended from time to time�"I�.ESPA"�, exc�pt that the cushion ar reserve permitted
<br /> by R.���'A for unantic�pated�isbursements or disbursements b�fore�he Bortower's payments are availab�e in
<br /> the acc�un�may not be based on amounts due for th�mor�gage insurance premium.
<br /> �f the am�unts held by Lender for Escro��terns exceed the amoun�s perm�t�ed to be held by RESPA,Lender
<br /> shal�accoun�ta�orrow�r far the excess fu�nds as required by RESPA. If the amoun�s of fun�is held b�
<br /> Lender at any time ar�n.ot sufficient to pay the Escr��v I�ems�hen due, Lender ma�notify the Borrower
<br /> a�d rec�uue Borrower to make up the shartage as permit�ed by RESPA.
<br /> The Esc�ow Funds are p�edged as�dd�tiona�security for all sums secured by this Securit�Ins�rument.
<br />� If F3orro�er tenders�a Lender the fu�l payment of al�such sums,Borrower's account shall be credited�ith
<br /> the�alance rema�n��g for a11 insta��ment it�ms�a}, �b},and�c}an.d any mart�age insurance premium
<br /> inst�llment tha�Lender has not become ab�igated to pay to the Secretary,and Lender�hal�promptly
<br /> refund a�ay excess funds�o Borrov�er. �mrnediately prior to a for�closure sale of the Property or its
<br /> acquisition by L�nder,Borro�ver's account shall be credited with any ba�ance remaining f�r a�l instal�ments
<br /> for items�a}, (h),and�c},
<br /> 3. Appl�cati�nvf Payments.Al�payments under paragraphs � and 2 shall be applxed by Lender as follows:
<br /> First, to the mor�ga�e insuranee premiumi ta be paid by Lender to the Secretary ar to�he monthly charge b�
<br /> the Secr�ta.ry instead of the m�nthly mort�age insura�.ce premium�
<br /> cond, to any ta.xes, sp�cial assessments, leaseha�d payments or ground rents, and f�re, flood and other
<br /> hazard�nsurance premiums,as required;
<br /> Third, to interest due under the Not�;
<br /> F�urth, to amorti�ation of the prineipal of�he Note; and
<br /> F,�h, to late charges due under the Note,
<br /> �. F�re,Flaodand C3ther Hazard Insuran�ce.Borrourer sha�l insure all improv�ments on the Froperty,
<br /> whether now�n existence or subsequen�ly�rected, against any hazards, ca�uai�ies,and contingencies,
<br /> including fire, for�rhi�h Lender re�ui.res insura�ce. This insu.rance sha��be maintained in the amount�and
<br /> for the geriods tha�Lender re�uires. Bortower sha�l alsa insure al�impravem�nts on the Propert�,�vhether
<br /> now in existence or subsequen�Iy�rected,agains��ass by floods to the extent re�uired b�the Secre�a.ry.A��
<br /> insuran�e sha�1 be carried with companies appr��ed by Lender. The insurance policies and any renevtrals shali
<br /> be held by Len�er and shall�nclude Ioss payabl�claus�s in fa�or of, and in a farm acceptable t4,Lender.
<br /> FHA Mort�age IiVITH MERS-NE Re�ised 419fi
<br /> VMP� VMP4N(NE}(1342).0�
<br /> Wofters Kluwer Finan�ial 5ervices Page 3 of 9�
<br /> q�3333$84a98 ��33 287 �31a
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