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<br /> ��15�545U
<br /> Z. IVlan#hly Payment af Taxes, Insur�an�eand t]t�er�harges.B�rr�w�r shall inctude in each manth�y
<br /> pa��ment,togetber with the principal and inter�st as set forth in the Note and any Ia�e charges,a surn for
<br /> [a}taxes and special asses�ments tevied or to be levied against the Proper�,�b�leasehald payments or
<br /> ground rents an the Property,and(c}premiums for insurance requu'ed under paragraph 4.In any yeat�n
<br /> w�.��h the Lender must pay a mortgage insurance premium to the Secretary of Hous�ng and Urban
<br /> De�e lopment("5ecretary"�,ar in any year in which su�h premium�ou�d hav�been required if Lender stili
<br /> held the Security Instrument,each rnanthly payment sha11 also include either; �i}a sum for the annual
<br /> m�rtgag�insurance pr�mium to be paid by L�nd�r to th�Secretary,or(ii}a manth�y charg�in�tead of a
<br /> mort�age insurance premium if this Security Instrum�nt is held by the Secretary, in a reasonab�e amaunt to
<br /> be determined by the Secretary. Except f�r the monthly charge by the Secreta.ry,these i�erns are�ali�d
<br /> "Es�rot�r Items"and the sums paid to Lender are called"Escro�v Funds."
<br /> Lender may,a�any time,co��ect an�hald am�unts for Escro�v Item�in an aggrega�e amaunt not�o exceed
<br /> the max�mum amount that may be required for Borrower's escrow account under the Rea�Es�at� S�ttl�m�nt
<br /> Fr�cedu.res Act of�9'T4, 12 U.S,�. S�ctian��Q 1 et.�e�. and imptementing regulatians, 12 C.F.R. Part
<br /> ����,as they may b�amended from time tn time�"RESPA"�, except that the cushion or resexve�ermitted
<br /> by RE�PA f�r unant�cipated disburs�ments or disbur�ements befare the Barro�er's payments are available in
<br /> the accou�nt may not�e based on amounts due for the mortgage insura.n�e premium,
<br /> If the amounts held by Lender for Escrow Iterns exceed the amounts permitted to be held by RESPA,Lender
<br /> �hall accauat ta BQrrawer fQr the e�ce�s funds as required b�RE�T�A.If the amaunts of funds held by
<br /> Lend�r at any tim�are nc�t sufficien�to pay the Escrow Items when due,Lender may no�ify the Borro�uer
<br /> aad require Borro�ver to make up the shartage as permitted hy RESPA.
<br /> The E�cro�v Funds are pledged as additionat secur�ty fdr alI sums secured b�this Securit�Instrument.
<br /> If Borrow�r tenders to Lender the full payment of all such sums,Borrower's account shali be�redited with
<br /> the ba�ance remain�ng far al1 installment items(a�,(b},and(c�and any mortgage insura�ce premium
<br /> installment that Lender has not become obligated ta pay to the Secretary,and Lender shall pr�mptly
<br /> refund any�xcess funds to Borro�ver. Imm�diately priar�a a fareclosure sale of the Property or its
<br /> a�quisit�on by Lender,Borrower's account sha�1 be�r�dited v�it'h an.y balance remaining for a11 instatlrnents
<br /> for items(a),(b),and��).
<br /> 3. Ap�licativnvf Payments.A11 payrrlents under paragraphs 1 and 2 sha��be applied by L�nder as follows:
<br /> irst, ta the mortgage insuran�e premium t�be paid by L�nder tv th�S��re�a.ry or to the rnonthly charge by
<br /> the Secretary instead of th�month�y mortgage insurance premium;
<br /> S con �o any taxes, special assessments, leasehald payments or ground rents, and fir�, flood and other
<br /> hazard insurance premiums,as required;
<br /> Thud, ta interes#due under the 1�Tote;
<br /> �ourth, to arxiorti�ation of the principal of the Note; and
<br /> F�,i�h, to late charges due unc�er the Note.
<br /> 4. FiFe,Floodand t]ther Hazard Insuran�e.Borrvwer sha11 insure a11 improvements on th�Property,
<br /> whether now in existence ar subsequently erecte�, against any hazards, casualties,and contingencies,
<br /> including fue,far whi�h Lender requires i�sur�.nce.This ir�surance shal�be�nai��a.ined in the amounts an�
<br /> for the p�r�ods that Lender requir�s.Borrawer sha11 a�sv insure aIt imprav�ments on the Property,whether
<br /> now in existen�e ar subsequently ere�ted,against l�ss by�loods to the extent requir�d by the S�cr�ta.ry.All
<br /> insurance sha11 b�carcied with campanies appraved by Lender, The i��uran�e policies and an}�r�nev�als sha11
<br /> be held by Lender and sha11 include lass payable clauses in favor of,and in a form a�ceptable to,Lender.
<br /> FHA Mortgage V111TH MERS-NE Revised 4196
<br /> VMP g VMP4N{NE}�13Q�}.44
<br /> Wolters Kluwer Finan�ial Services qp333895�593 ��33 474 Q314 Page 3 af 14
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