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<br /> It tho amounts held by l.pnder tor Esarow Items exceed th� emounts permitted to���b�r�ESOPA,�Le der shail
<br /> deai with tFio oxcoBO tunds aa required by RESPA.If thQ ar+nounts of funda held by Lendor et any time are not auffEaient __
<br /> to pay the Eecrow Itema when duo. L.ondor may not(fy the 9c��rower an�i r�yuirA Rorrower to mako up tho shortago =-
<br /> or defiafenoy aa permltted by RESPA.
<br /> Tho Eecrow Funda are p0edged ea edditionei security for ell sums secared by thia Seourlty Instrument. I4 Borrower
<br /> tandera to Lender the ful!payment of ail euah sums,Bor►ower's eacaunt shell be credited with tho baianco�emelnin�
<br /> for ail IngteUment items 1e1,(b),and(a)and any mortgage ineurence premlum inateilment that Lender hea not become
<br /> ab11ga4ed to pey to the 8ecrott+ry,and Londor shall prornptly rotund any exceos funde to Borrower. Immediatefy prior -
<br /> to e fo�eclosure aete of the P�operty or its ecqutsition by Lender,Borrower'e eccount ehalt be credited with eny betencs
<br /> ramaining for all inatellments tor items te1, tb1,and (c1.
<br /> 3.Appllcatlon�f Paymenta. All payments ur�der peragrepha 1 end 2 shell be epplied by Lender es foliowa:
<br /> �,to the mortgago insurance premium to be peid by Lender to the Secretary or to the monthly cherge by the
<br /> 8ecretary instead of the month�y mortgage insurance premium;
<br /> Seco , to eny taxes,speciat asEODUmonts, leasehold peymenta or grou�d�ents�end fire,fiood and other hazerd _
<br /> Eneurence premiums,as required; �
<br /> Thtrd,to interest due under the(Vote;
<br /> Fourth•to amortizetion of the principel of the Note;
<br /> �, to late charges due under the Note.
<br /> 4.Flro,Flood au�d Othar Hasard insurance.Borrower sheli insure etl improvements on the Property,whether�ow
<br /> in extatence or subsequently erected, against any hazarda,casueides, end contingencfes, Inc�uding fire, tor�ahich
<br /> Lender requires insurance.This Msurance shail be maintai�ed in the amounYS and for the periads that Lendor roquireu. �
<br /> 8or�ower shall also insure etl improvements on the Property, whether now in exiatence or subsequentty erected,
<br /> egainst loss by floods to the extent required by the Secretery. All insuronce shall be aer�led with companies appraved
<br /> by Lender.The insurence poticies and any renewals ehall be hefd by Lender and shall include toss payable ctauses in `-
<br /> favor of, and En a lorm acceptable to, Lender.
<br /> in the event of loss, Bor�ower shat!give Lender immedlate natice by mail. Lender may make proof of loss if not
<br /> made promptiy by Borrower. Each lnsurence compeny co�cerned is hereby authorized and direct�sd to make payment
<br /> for such loss directty to Lender,instead of to 8or�ower and to Lender�ointly.Ali or any pett of the insuran�.�p�oceeds
<br /> may be epplied by Lendar,at its option,either(e1 to the reduction of the indebtednesa under the Note end thts Security
<br /> Instrumant,first to any delfnquent amounts epplied in the order In peragraph 3,and then to prepeyment of principal,
<br /> or(b)to the testoration or repeir of the demaged property.Any applfcatton of the prpceeds to the prinaipal shell not
<br /> entend or poatpone the due�iete ofi the morrthiy peymente�whi�h 8;a rsfarrad ta€n para$raph 2,a:r.�snge the amosns �
<br /> of such payments.Any excesa t�surance praceeds over an amount required to pey eti outstanding Indebtedness under
<br /> the Note and thls Security Instrum�n4 shall be paid to the entity legally entitied thereto.
<br /> 1�the event of foreclosure of this Security I�strurnent or ather trensfe�of titlo to the Property ihet extinguishes
<br /> tha tndebtedness, all �ight, title and tntereat of Borrower in end to insurance policles in force ehell pass to the
<br /> purchaser. .
<br /> 6.Occupanay.P►eservation,Mdntenencs and ProtscHon of th�Ntoperty;Borrower's I.oan Application;Leaasholds.
<br /> Borro�nrer ehall occupy,asteblish, and use the Property es Bor�ower's principal restdenc�t within sixty�sys after the
<br /> execution of this Security inst�ument and ehall continue to occupy the Property es Borrower's principal residence for
<br /> at least one year after the date of occupency, unless the Secretary dete�mines this requirement wfll cause undue
<br /> herdship tor Borrower,or unleas extenueting circumstences exiet which are beyond Bor�ower's controt.8orrower aha11
<br /> not(fy LendQrs of e�y entenueting circumstancos.8orrowe�ahall not commit wa�te or destroy,damage or substantially
<br /> change the Property or aliuw the Property to deteriorato, reesonable w�ar and tear excspted. Lender may inspect the
<br /> Property ff the P�operty Ia va�ant nr�bandoned or the loa�is i n defeult. Lender may take roasoneble action to protect
<br /> end preserve s�uch vacant or ebendoned Property. Borrowe� ahall also be in detault if Borrower, during the loan
<br /> epplication process,geve meterielty faise or inaccuraYe information or statementa to Lender 4or failed to provide tender
<br /> with any materfei information) in connectian with the loen.evidenced by the Note, inatuding, but�ot timited tu.
<br /> representat3ons concerning Borcower's occupancy of the t�operty ea a principat residence.If tfiis Security insi�ument
<br /> is on a ieasehold,Bor�ower shell comply with the provislons of the lease.if 8orrower ecquires fee tftle to the Property,
<br /> the leasehold end fee titid shatl not be merged uniess lender egrees to 4he merger In writing.
<br /> S.Chargxs to BQrrnL�er t�nd Proteedon of Lender'a R�ghts tn tho Pro�.Botrower shell pay e!!governmental or ' .
<br /> municipat charges,fines and impoaitlons that are�ct i�cluded in paregraph 2.Barrower ahell pay thase obiigatiuns on
<br /> time dlrectly to the entity which is owed the paym9nt. If fallure to pey would adverse{y affect Lender's interest in the
<br /> Prcperty,upon Lendar's request Barrower aheii promptly turnish to Ler►der receipte evideRCing these payments.
<br /> If Borrower fails to make these payments or the payments required by paragreph 2,o�feils to perfo�m eny other
<br /> covenents and agreements contained in this Security instrument, or 4here ts e leget proceeding thet may significently �
<br /> affect Lender's rights�In the Property isuch as o proceeding in benkruptcy,for condomnetlan o�to enforce lawa or
<br /> reguiatio�s).the Lender may do and pey whatever is necesaery to protect the vatue ot the Propeny end Londer's:ights
<br /> in the Property,including payment of taxea, hazard insurance and other items mentioned in paregreph 2. __
<br /> Any emaunts dlabursed by Lender undo�thfs peragreph shall become an additional debt ot Borrower and be secured
<br /> by this Security instrument. These omounts shail bear interest from the date of disbu�sament, at the Note re4e, and
<br /> at the option of Lend¢r,shall be immedlately due end payable.
<br /> 7.�ondemnetion. The proceads of any award ar cleim tor damages,direct or consequentiel,in connectfo� with
<br /> any cnndemnetion or other taking of any part of the Properry, or for conveyance!n piace of condemnatioa,are hereby
<br /> essigned enp snei'i De paio to�entier to tne exteni oT ine tun 6mouni oi ina inan`vivo�ineB ii�bi ieirian�a uipaiu' uiia'oi
<br /> Yhe Note end thia Security instrument.Lender shail apply such proceeds to th��eductfon of the indebtedness unde� _
<br /> the Note end this Sacurity instrument, firat to eny delinquent amounts applied in the order provlded in paragraph 3,
<br />- and then to prepayment of princiPal.Any eppqcation of the proceeda to the principal ehall not extend or postpone the
<br /> due date of the monthiy payments, which are referred eo in peragraph 2, or chenge the amount of such paymente. -
<br />_ Any exceas procoeds over en amount required to pey eU outstanding i�debtednesa under the Note and this Security �
<br /> Inetrument sheil be paid to the entity legally enxitled thereto. _
<br />- 8.Fess. Londor may collect faes end cherges euthorized by the Secretary.
<br />- 8.Q�ounds tor Aaceleratlon oi Debt.
<br />- (al0etnult.Lender may,except es Iim{ted by reguletions isaued by the Secretary in the cese of payment defauits, �
<br /> " require immediate payment in fuit of ell sums secured by this Security Inetrument if:
<br /> „ �I) Borrower defauits by fafling to pey in full any monthly payment required by this Seou�ity I�►strument pr�ot to
<br /> b0eD3�4 Pege�01 4
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