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<br /> ��'�" 1�00'�9
<br /> If thc amounts held by Lender for Escrow Items exceal thc amounts�xrrc�ittcd ta be hcld by R�SPA, L.cnder
<br /> shall accaunt to Borrower for the�xcess funds as requited by RESPA. If the amounis of funds held by L.ender at any
<br /> time arc not suft'icient to pay thc Escrow Items whcn duc, I.ender may notlfy thc Borrowcr and rcquirc Borrower to
<br /> ma1:e up the shortago as permittal by RF.SPA. `
<br /> The Fscrow Funds are pledged as actditi�nal security for all sums secured by�this Security Instrument. If
<br /> Horrower tenders to Lender the full paycnent of all such sums, Borrower's account shall tx credited with thr.balance
<br /> remaining for al! installment items(a), (b), and(c)and any mortgage insurance premium installment tha�t Lender has
<br /> not become obligated to pay to the Secretary, and Lender shall promptly refund any excess funds ta Bonower.
<br /> Immediately prior to a forxlosure sale of tbe Property or its acquisition by Lender, Horrower's account shall be
<br /> credited wi[h any balance remaining for all installments for items(a),(b),and(c).
<br /> 3.Application ol Paymen�s.All paymeuts under paragraphs 1 and 2 sliall be applied by Lender as follows:
<br /> �, to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly chazge by the
<br /> Secretary instead of the monthly mortgage insurance premium;
<br /> �,to any taxcs,special assessments, leasehold payments or ground rents, and fire,floai and other hazard
<br /> insurance premiunns,as requir�d;
<br /> Third,to interest due under the Notc; _
<br /> Fourth,to amonization of the principal of the Notc;and
<br /> �jj�,to late charg�s due under the Note.
<br /> 4.Fire,Flood and Other�Iszard Insurance.Borrower sh�ll insure all improvemencs on the Pruperty, whether
<br /> now in ezistence or subsequently erected,against any hazards,cnsualties,and contingencies, including fire, for which
<br /> Lender requires insurazice. This insurance shall be maintained in the amounts and for the periods that I_ender
<br /> requires. Borrower shall also insure all improvements on the Propeny, whether now in existcnce or subsequently
<br /> erected, against loss by floads to the extent required by the Secretary. All insurance shall be carried with companies
<br /> approved by Lender.The insurance poltcies and any renewals shall be held by Lender and shall include loss payable
<br /> clauses in favor of,and in a form acceptable to, Lender.
<br /> In the evcnt of loss, IIorrower shall give Lender immediate notice by mail, Lender may make proof of loss if not
<br /> made promptly by Bonower. Each insurance company concemed is hereby authorized and directed to make payment
<br /> for such loss dircetly to L.ender, instead of to Bonower and to L.ender�ointiy. P►11 or any parc oi iha in�u�dice
<br /> prceeeds may be applied by Irnder, at i[s option,either (a)to the reduction of the indebtedness under the Note and
<br /> this Security Instrument, first to any delinquent amounts applied in the order in paragraph 3,and then to prepayment
<br /> of principal, or (b) to the restoration or repair of the damaged Property. Any application of the procads to the
<br /> principal shall not catend or postpone the due datc af the monthly payments which aze refcncd to in paragraph 2,or
<br /> change the amount of such payments. Any excess insurance proceeds over an amount required to pay all outstanding
<br /> indebtedness under the Note and this Security Instrument shall be paid to che entity legally entitled chercto.
<br /> In the event of foreclosure of this Security Instrument or other tra�isfer of title to the Yropeny that extinguishes
<br /> the indebteclness, all right, title and interest of Borrower in and to insurance policies in force shall pass to the
<br /> purchascr.
<br /> 5. Occupwncy, Preservatton, MWintenance snd Protect(on o[the Property; Botrowcr's Loon Applics►Non;
<br /> I.easeholds. Bonower shall occupy, establish, and use the Property as Borrower's principal residence within�ixty
<br /> � days after the execution of this Security Instrument (or within sixty days of a Iater sale or transfer of the Propetty)
<br /> and shall continue to cecupy the Prupeny as Aorrower's principal residence for at least one year after the date of
<br /> occupancy,unless Lender deterr.�ines that requirement will cause undue hardship for Bonower,or unless eatenuating
<br /> circumstances exist which aze beyond Bonower's controt. Borrower shali notify L.ender of any extenuating
<br /> circumstances. Borrower shtill not commit waste or destroy,d:unage or substantially change the Propeny or allow the
<br /> Property to deteriorate, reasonable wear and tear excepted. I.ender may inspect the Property if the Propeny is vacant
<br /> or abandoned or the loan is in default. l.ender may take reasonable action [o protect and preserve such vacant or
<br />— �4RINE)ieeoa�.o� re�3 oi e i„uw�:�/9 4•(/
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