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<br /> �. iV�flnthly Paym�nt vf Taxes, �nsuranceand[)ther�harges.Borrow�r sha��in�lude in eaeh rnvnthly
<br /> payxneat,tagether�vit�the�rineipa�and in�erest as set fo�.��n the Nate and a�y lat�charges,a surn�4r
<br /> �a�taxes and special assessmen�s levied or to�be levied agains�th�Pro�aerty,�b}1�asehold payments�r
<br /> ground rents on the Pro�erty,and(c}premium�fvr�n�urance required under paragraph 4, In any year in
<br /> tivhiCh the�.�nder rnust p��a mortga�e insuranc�premium to the Secreta.ry of Hausing and Urban
<br /> Development("5e�retary"},or�n aay year in vvhich such prern�um wouid have been re�uired if Leader�til�
<br /> he�d�he Security�nstrum�nt,each monthl�paymen�sha�l alsa includ�either: (i�a sum for th�annua�
<br /> mortgage insuranee prem��.m ta�be paid by Lender to the Secretary,or�ii}a monthly�harge instead of a
<br /> mortgage �nsurance pr�mium�f this Security�nstrurnent is held by t�e�ecretary,in a reasonable a�nount to
<br /> lae determin�d by the Secretary. E�cept for the monthiy charge by the�ecre�a.r�,these it�ms are called
<br /> "Escraw I��m�"and the sums paid to Lender ar�called"Escrt��v Funds."
<br /> Lender may,at any time,callect and h�1d amounts for�scrvw Items in an aggregate amount not to ex+ceed
<br /> the maxir�rium am�unt tha�may be required far Borrower#s�scrow accaunt under the�eal Estate Set���ment
<br /> Proeedures A��af 1974, 1�U.S.G, Section 26�1 e�,s�q, and implem�nting regulations, �2 C,F.R.. Fart
<br /> IO2�,as�hey may�e amended fram time to time�"RESPA"),except tl�at#he cushian or reserv�permitted
<br /> b�'Tt��PA for unanticipated disbursements ar disbursements before the Borrower's payments are avai�able in
<br /> � the account may not be based on amounts due for the mortg�ge insurance premium,
<br /> If the am�unts held by Lend�r far Escro�Items�xGeed��he am�ur�ts permi�ed ta be held by RESFA,�.ender
<br /> sha11�.ccount�o Borrower for the exc�ss funds as required by RESFA. If the amaunts nf fun�s held b�
<br /> Lender at�ny time ar�nat sufficien.t to pay th.e Escrow Items�uhen due,Lender may not�f�the�orrower
<br /> ,� � _ �
<br /> a�d requ�re Barro�er��ma.l�e up�he shar�age as permitted by RESPA. .
<br /> ' The Escrow Funds are pledged as additional security far all sums sec�red by this Secu�rity Instrurnent.
<br /> `�.. „ If Borr�v�e�r tende�s to L�nder the full payment flf a1��uch sums,$orra�er's accaunt sha���e�redi#e�i wi�h
<br /> ; the b��anCe remainir�g far a��installment��ems�a},�b},and(c}and any mvr�ga�e�nsurance gremium
<br /> � installment that Lender has not became obl�gated ta pay to the Secretar�,and Lender sha11 pramptly
<br /> refund any excess funds��Borr�wer.�rnmediate��prior ta a foreclasure sale af the Prop�r�y or�ts
<br /> a�quisition by Lender,$orrower's ac�nunt shall be credited with any balance rema�n�ng far all i�stal��.ents
<br /> .
<br /> fvr�tems�(a}, (b),a.nd(c�.
<br /> 3. Applicat�onaf Paym�n#s.All paymen��under paragraphs 1 and 2 shalt be appl��d by Lender as follo�v5:
<br /> F_irst, ta the mort�age insurance premium to be paid b�Lender to the S�cretary or to�he manthl�eharge by
<br /> tl�e�ecretary instead af the rnon�h�y mor�gage insurance premiurn;
<br /> �econ t�any taxes, speciat asses�ments, l�as�hold paymet�ts or ground rents, and fue, flaod and other
<br /> ha.�ard insurance premium�,as re�uired;
<br /> Third. ta�n�er�st due under�he Note;
<br /> Fo�u�rt ,h, to amor�i�ati�n 4f the principal af the N�te; and
<br /> Fifth, �v lat�charges due und�r the Note.
<br /> 4. FiFe,Floodand�ther Haza�rd Insurance.Barro�ver sha�� �nsure a�l impravements on the Property,
<br /> whether now in exi�tenc�ar subs�quently erected, against any ha�ards, casualti�s,an�contin��ncies,
<br /> iaclud�ng fir�,for which L,�nder re�uues�nsurance. Th�s insurance shal��e maintained in�he amt�unts and
<br /> for the per�ods tha�Lender requir�s, Borrower shall also insur�a11 impravements an the Praperty,�rhether �
<br /> .� now in e�istence or subsequent�y e�r�cted,against loss by floods to�he exte�.t required by the �ecretar�r.All
<br /> �, iiasurance shall be carried�vith companies appro�red by Lend�r. The insurance policies and any renewa�s sha11
<br /> b�he�d by Lend�r and sha�l inclu�e�ass payable G�aus�s in favor af,and in a form acce��a.�le to,L�nder.
<br /> FHA Mortgage WITH MERS-I�IE Revised 4198
<br /> VMP�7 VMP4N(NEj(��421_�0
<br /> .� Walte+s liluwer Fir��n�lal Se�vices qp334�7Q���3 U233 �i17 �310 Page 3 nf 10
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