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<br /> �. Manth�y Paym�nt af Taxes, Insuranc�and�the��h�rg��.Borrawer sha11 inc�ude�n each mo�.thly
<br /> payment,tvg�th�r�vit�th�principat and i�.terest as set far��.in the Nvte and any late c�argesA a sun��or
<br /> �a�taxes and�pecial ass�ssments�evi�d c�r to be Iev�ed against the Proper�y, (b���asehold payments or
<br /> �round ren�on the Pr�per�y,and(c)premiums for insuranG�requir�d under paragraph 4. In any�ear in
<br /> ��ich th�Le�d����st pay a rr�o�tgag�insurance premium ta�h��ecretary�f Housing and Ljr'ban
<br /> T3evelopment("Secretasy"},or i�n any year in which such premium�ou�d ha�e been requir�d xf Lender sti�l
<br /> he�d the��curity Instrument,each manthly pa�ment shall also include eith�r; (i}a sum for th�annual
<br /> mortgage inst�a.n�e pr�mium t�b�paic�by Lender t�the Secretary,or(ii�a monthly charge instead�f a
<br /> xnortga�e�nsurance prenlium if this SeGur�ty Instrur�ent is he�d by the 5ecretar�,in a reas�nable amount to
<br /> be detern�Yne�by the S��re�ary. Ea�cept for the m�nth�}�charge by the Secretaiy,these�tems are called
<br /> "Escrow Items�'a�.d�he sums gaid to Lender are ca�led"Escrow Funds."
<br /> I�en��r may,at any time,�o�lect and hold amounts fQr Escraw Items�n an aggregate amaunt not ta exceed
<br /> th��axix��u�n amaunt that�na�r be���uired f�r�orrov�er's esc�o�accaunt under the Rea��state Settlement
<br /> l�rocedur�s A�t of�9'�4, 1 Z�J.S.C. S�ction�26�1 et.sQ�►. an.�imp�e�nenting regulatior�s, 12 C.F.R. Par�
<br /> �42�,as the�may be amended fram time ta t�me�"�ESPA"}, except tha�the cushion or reserve perm�tted
<br /> by i��i'A for unanticipat��disbursements ar�isbu.rseme�t�befare the Borrower's paymen�s are available in
<br /> the aecaunt rnay n.�t be based on amounts due for the martgage insurance premium.
<br /> If th�amo�nts held by L��der f�r�scraw Iten�s e�ceed the am�unts pe�itte�i to b�e held��1�ESP.A,�ende�r
<br /> sha1�acc�unt to Borrawer f�r the ex�ess funds as required by RE�PA. If the amounts of funds held by
<br /> Lender at any tim�are not�ufficient ta pay the E��raw Items�crhen due,Lender may�natify the Borrower
<br /> a�d r�eqt�ire$�rrov�er to n�a�,�e up�b�e shartage as pe�if�.ed�ay RESPA. ,
<br /> 'The Escro�v Funds are pl�dged as additional securit�for a�l sums seGured by this Security Instrument.
<br /> If F3arrov�er tenders to Len.der the fu11 pa�ent vf a�l such sums,��rrower's account sha11 be�r�dited t�tith
<br /> the�alance rema�ning far a�t insta��ment items�a}, (�},and�G}and any mortgage insurance premium
<br /> in.st�llment that I,ender has not become abl�gated to pay to the Se�reta�y,and Lender sha��pramptly
<br /> refund a.n�ex��ss funds t��arro4ver.Imrnediate�y prior to a foreclost�e sa�e of the Propert�o�i�s
<br /> acquisition by Lender,Borrawer's account sha��be credited with any�a.�ance remaining for all insta��rnents
<br /> f�r i�ems�a}, �(b),and(c}. �
<br /> 3. App��cat�t�naf Payments.All payments under pa.ragraphs 1 and 2 sha11 be applied by Lender as follows:
<br /> F�,t�, tfl t�a.e mortgage insuraace prem�um to be paid by Lender t�the�ecr�t.ary or to th�monthly charge by
<br /> t�e Se���tar�y in�t�ad af the monthl�r mor�gage insu.rance prem�um;
<br /> S ��n�. �o�ny�a�e�, spec�a�assessments, Ieaseho�d paym�nts or g�rou�nd rents, and fue� flood and�ther
<br /> h���rd�nsurance�remix�ms,as r�quised;
<br /> '�hu to�nterest�ue under the N�te;
<br /> F .rt� t�.a�o�ti�ativn of the principal of the�Vate; and
<br /> F��h,, �o �ate char�es due under the Note,
<br /> 4. F i re,�[c�or�an�C3'�her fiazard I ns u ran�e.�'3orr�wer shall insure a�l irnpro�ements on the Property,
<br /> wh�ether na�v in exist�nce or subsequently�rected, against any ha�ards, casua�ties,and contingenc�es,
<br /> %nc�uditY�fire, for�vh�ch Lender re�u�r�s in�urance. This insuranGe sha�1 be maintained in the amoun�and
<br /> f�r t�e pe�ciods t�.at�.�nder re�uires.�orrower sha11�1sa insur�a�l impro�ements on t�e Prope�ty,vvhether
<br /> n�w i�.�x�sten�e or su�s�quently ear�cted,against�oss by floods�fl the extent required b��he��cretary.AlI
<br /> �n�s�ance s}�.a��be carried�vith c�rr�pani�s approved by Len�er. The i�surance�aolicies and an�renewals sha1l
<br /> b��.el�b �.�nd�r a��i shall inc��de��ss payab�e clauses in fav�r of,an�in a form accepta�le to,Len.der.
<br /> FHA Mortgage Itl��TH M�RS-�E Revised 4I9B
<br /> VMP� VMP4N�NE�(1302}.4D
<br /> Wolte►s K�uw�r F[nancial Serv€ces Page 3 a€�n
<br /> q4333$167932 a233 425 431�
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