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��15��9 �. l�anthly Payment of Ta�ces, Insuran�eand C�ther Charges.Borrower sha1�in�tude in each n�onthl� payment,together w�th the principa�and in�ere�t as set forth in t�e Note and any lat�charges,a sum f�r �a)taxes and special asse�sments levied�r to be levied against the Property, �b} leaseh�ld paym�nts ar ground rents on the Property,and(c�premium�f�r insuranc�requir�d under paragraph A�. In any year in which the Lender mus�pa�a mortgage insurance gr�mium to the Secretary of Hausing and L�rban Dev��o m�nt "Secre " ' p ( tar�r ),�r�n any year in which such premium would have been required�f Lender sti11 held the Security In.strument, �ach monthly paymen�shall aiso include either: (i�a sum for th�annua� mortgage insuranc�premium to be paid by Lender to�he Secretary,or(ii}a monthly char�e instead of a mortgage�n.surance premium if th�s Security Inst,rument is held by the Secre�ary, in a reasonahle amoun��v be determiaed by the Secreta.ry. Except for the monthly charg�by the Secr�tary,th�se items are called "Escrow Items"and the sums paid to Lender ar�ca11�d"E�Grow Funds." Lender may,at any t�rn�,co�lect and hold amount�for Escrow Items in an aggregate amount no�ta exc�ed the maximum amount that m�y be requ�red far Borro�er's e�cro�r account under the Real Esta.te Settlement Procedures Act of 1974, �2 U`.S.C. Section 264� et s�q. and implemen��ng regulati�ns, 12 �.F.R. Part 1�24,as they may b�amended from time to time�"RESPA"},except that the cushion ar reserve permit�ed by RESPA far unanticipat�d disbursements or disbursements b�fore the$orrawer's payments are a�aitable in the account ma�not be bas�d on amaunts due for the mortgage insurance premium, If the amount�he�d�y Lender for Escrow Items exceed the amounts permitted to be he�d by RESPA,Lender shal�acc�un�to Borr�vver for the excess fuads as required by RESF'A. If the amounts of funds held by Lender at any time are nat sufficient to pay th�Escrow�tems when du�,Lender may natify the Borrower and require�orrower to mak�up the shartage as permitt�d by RE SPA. The Escr�w Fun�is are pledg�d as additional security for all sums secured by this Security Instrum�nt. If Borrc�vver tenders to Lender the full payment of al�such sums,Borrower's account shall b��redited w�th the balanc�rema�ning for a11 installment items(a}, (b},and(c)and an�mortgage insuranee premium installment that Lender has not becc�me ob��gated ta pay ta the Secreta.ry,and Lender sha1�promptly refund any excess funds ta Borrower, Immed�ate�y prior ta a farec�osure sale of the�raperty or�ts acquisitian by Lender,$arr�wer's aGcount sha�l b��redi��d with an�balance remaining for all ins#allments for�tems(a�, (b),�n.d(c}. 3. Ap�licatianaf Payments.A��pa�rments under paragraphs �. and 2 sha�l be applied by Lend�r as follows: First. ta the mortgag�insurance premiurn t��paid by Lend�r to the Secre#ary�r to the mvnthl��harge by the Secr�ta.ry instead of the monthty mortgage insurance premium; ta any taxes, special assessments, leasehald paym�n.ts or gr�und rent.�, and fue, flood and other hazard insurance prem�ums,as required� T�.ird, to interest due under the Note; F��.rt�. to amortization af the principat of the I�ote; and Fi�, to late charges due und�r�he Note. 4. Fire,Flaodand�ther Hazard�nsuranc�.Borrower shal��nsur�a11 improvement�an the Proper�y, whether naw in exist�nc�ar subsequently erected, against any hazards, casua�ties,and conting�ncies, including f�e, for t�hich Lender requires insurance. This insurance shall�e ma�ntained in the amount$and for the periods that Lender requires. Borrower sha11 also insure ar�impravemen�s on the Property,whether n�w in exxst�nce or subsequently erected,aga�nst loss by floods to the extent required by the S�cretary.AI� insurance sha11 be carr�.�d�vith campanies apprvved b�Lender. The insurance policies a�d any renewals sha�l be he�d by Lender and shalt rn�lude loss ayab�e clauses in favor of,and�n a form acc tab�e to�Lender. FHA Mortgage WfTH MERS-NE Revised 419B VMP� VMP4N(NE3(13�2}.44 Wolters ICluwer F�nancial Senrices Page 3 af 1� q�33 88zf836 �z33 373 4314