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<br /> . ' Lender may, at �ny time, c��lect Anc1 hold omounto far Eocre�v Itama In nn appreDAte amount no2 to exceed the maxtmum
<br /> ' �mount IhAI may bv reRs�;red Oor BorrawRr'e e�crow Qccount under tha Real Estate Settlemont Procedures Act of 1874, 12 U.9.C. _
<br /> S�841 ri ��, �ftci Im�!°;tten!!nQ repu!�lla�+s, ?4 GFii Pt!►t 3500,aa tl�py may hn amcnded irom tlmo ta tlmo ("RESPA'), oxaept
<br /> If�nl iho cuohlrn► �r rr.ar.�vo pci�rilited dy RC:��'A for unnnticlpnted disburaemr.�to ar disbureemente 6etoro tho Borcower's =
<br /> pay;;ir.nto urn civni!�bin Di Uic� nccount ot�y nol bo baonrl an nriawito du6 tor iha mortpn�o innurnnco premlum.
<br /> If Iho nrnnunio hotrl hy I.ender fut Eiacrow Ilem�oxeued Ihci emoimto permlttod to bo hold Uy RESPA, I.cncicr ahail dcal with ._.
<br /> Ihe oxGese lunde wo rec�utred b��f�Ei;PA. Ii Iho nmounla o1 funds hold hy Lender ut nny timo�ra not ouffleleN to pey tho�ecrow --
<br /> Item� wi�Mi dim, LenAer mey notlt� the Eiorr�wer and requlra Dorrower to maks up tho shortefle or dellclency as permitted by �
<br /> fi�;iPA. � -
<br /> 7he �euow Funda are ploslpad aa acldlllonrl security lor oll sume cacured by thlo 9ecurity Inatrumsnt. 11 Borrower tondcia �
<br /> ta Lender tho tull pAymonl ot all Ruch oume. Qorrower� xccuui�l ehalt be ttod�tcd vrith th� tralance remalnlnp }or all Ins4^I!ment —
<br /> Itcma (n), (h), nnd (o) nnd any moii{�a{�o Inaurenco promlum Inetalhnont ihat Le�ider heo no4 bocomo obllpatad to pny to tho �a11 -...
<br /> $9GfQit�y, �nd i.vnder snrii prumpiiy ioiuiiu aRy"v�Gv'oo iii�d�23 aOAL'.':�. �R:.^.':�'!��'•r.��.tn.tn�(pr�Nnaure aaln nf thu Pronefty �
<br /> or Ite wcquleltlon by Lander, Borrower'o account ahell be credited wfth sny batance remalninfl far dl inat�llmante lor Items (ej, (b),
<br /> and(o). �
<br /> 3. Appllc�tlon of P�ymsr+ts. AN paymunts under perapraphe 1 and 2 ahnll bA opplied by Lender a3 follows: �
<br /> FI!'st to tho moR�ege Inaurance premlum to be pald by l.ender to tho Secretary or to tha monthly chargo by the Secretary ,�,�
<br /> inotead ot lhe monthly mortgaga Inauranco premlum;
<br /> Set30ild, to eny Lv;os, 3pecisl sssessments, leasehold payments or ground rente, and Ilre, ilood and other haznrd
<br /> Insurnnce pr�mlums, as required;
<br /> Thlyd, to Interest due under the Noto;
<br /> Fou�th, to amortlzatlon ot the princlpal of the Noto;
<br /> Fifth, to IRte charges due under the Note.
<br /> 4. Flre, Flood and Other Hazerd Inauranc�. Borrower ehall Insure all Improvements on the Property, whether
<br /> now In existence or subsequently erected, agalnst any hazards, ct+suaftiea, and contingencles, Ineluding flre, tor whlch Lender
<br /> requlres Inaurance. Thls Insuranco 3ha11 ba malntElned In the r+mounts end tor the pe�iods that Lender requlras. Borrower shail
<br /> alao insuro all Improvements on the Property, whether now In exfstenco or subsequently erected, agalnst toss by flooda to the
<br /> extent requlrnd by the Secretary. All Insurnnce shall be cartled with companl9s approved by Lender,The insurance pollcies and
<br /> any renewals shail be held by Lender and shall Includa loss paya6le clausea In favor of, and In a fortn acceptnble to, Lender.
<br /> In lhe event of loos, Bortower shali give Lender immediute notice by mall. I.ender may make proot of loss If not made
<br /> promptly by Bortower. Each fnsurance company concemed is hereby authorized end dlrected to make payment tor such loss
<br /> dfrectty to Lender, Instead of ta Bortower and to Lender Jolntty. All or any part o1 the Insurance proceeds may be eppiled by
<br /> Lender, at its optlan, efther (e) to the reductio�� 01 the Indebtednese under tl�o Note and thls Security Instrument, flrst to Any
<br /> delinquent amounts applled In the order In Paragreph 3, and then to prepuymont of principal, or(b) to ihe restoratlon or�apalr of
<br /> the damnfled PropeRy. Any application of tho proceeds to the principal shall not extend or postpone the due clflln of the
<br /> monthty payments whlch are referred to In Paragraph 2, or change the emount of such paymente. Any excoss Inaurance
<br /> proceeds over sn amount required to pay all outstandin9 Indebtedness under the Note and thls Security Inatrument shail be paid
<br /> to the entlty le�alry entitied thereto.
<br /> In the evmt ot foreclosure of thls 8ecurity Instrument or other tran�fer ot title to the Property that extlne�ulshes the
<br /> indebtedness, all rlght,t(tle and lnterest oi Borrower In end!0 lnsurance poiicies in iorce sneii pass iv ii�v Nu�c��a��.
<br /> b. Occupancy, Preservation� M�intenance and Pratectlun of t9ie P�opsrty; Borrowe►'s Loan
<br /> App1lC�tlOn; L.9Yfsholde. Bortower shall occupy, estabtlsh, and use the Property as 8ortower's pr(ncipal residence within
<br /> s�xty day� efter the execution oi this Security Instrwnent and shall conflnue to oc.upy the Property es Bortower's principal
<br /> residence tor et leas4 one year atter the date ot occupancy, unless 11ie Sacretary determines thfs raqulrement wiA cauae undue
<br /> hardshlp tor Borrower, or unless extenuating circumstances exlst whlch ere beyond Bortower's control. Bonower ehall notify
<br /> lenders o} any extmuating circumatances. Borrower ahall not commit waste or destroy, damage or substantbHy chenge the
<br /> Property or nllaw the Propefty t� deteriorate, reasonebte wea and tenr exceptod.Lender muy Inopect the Prope+ty If the Property
<br /> Is vacant or abandoned or the loen is In detauR. Lender may take reasonable actlon to protect end preserve auch vacent or
<br /> abnndoned Property. 8ortower shall atso be in defauN if Borrower, dudng the Ioan appllcation process, gave materialy tatse or
<br /> Inaccurate Informntion or etatements to Lender(or iafled to prorlde lender with eny metnrk�l Intortnatlon) In connecUon with the
<br /> loen evldenced by the Note, Including, but not Iknked to, representatlons conceming BoiTOwor's oacupnncy of the F'ropeRy as e
<br /> pdncipei resldence. Ii this 3ecurfty Instrument Is on a ieasehold, Borrower ohall compM wkh the provislons o} the lesae. II
<br /> Bonowe►ecqulren fea title to the Property,the leeaehold and fee title ahall not be merged uniess Lender ayrees to the magn In
<br /> wrking.
<br /> 6. Chsrges to Barrowsr �nd F'rot�ctlon of Londer's 6ilgh2s In th� Prop�rtyt. Borrower sheh p�y an
<br /> govemmental or munlcipal charges, fines end ImpoeRlons thet aro not Included In Peragreph 2. Borrower shall pay these
<br /> obligetlone on time dlrectly to th� entlty which i� owed the pnyment. If feilure to pay wouid ndversety atfect Lender's Intaest In
<br /> the Property, upon Lender's request Bortcwer shall prompty fumish to Lender receipts evldancing these payments.
<br /> It Borrower falis to make these payments or the payments requlred hy Paragraph 2, or fails ta peAotm uny other covmnnts
<br /> end sgreements contsinod in thls Secutiry Instrument,or there is a legal procen�mg that may slgniticantry ettxct Lenaer's dghts In =
<br /> the Prcperty (such as e proceeding In Nenkruptcy, for condemnation or to entorce laws or regulations),then l.ender may do end
<br /> pny whatever is necessary to protect tho value of the Property end Lender's dghts In the Property, Including payment ot texes,
<br /> hazard Ineurance and othor Items mentloned in Peragraph 2.
<br /> Any amounts disbursad by Londer under this Parsgreph shall become en addRionnl debt of Bo�ower and be secured by
<br /> this Secuiity Insirument.Thase emounts shsll bear interest irom the deto ot disbursement,at the Note rate,snd at the option o}
<br /> Lender, shall be Immedlatety duo and payabls.
<br /> 7. Candemnation. The proceeds oi any award or clalm tor damages, dlreot or conaeqvential, In�onnection with any —
<br /> condemnation or other teking o}any pert ot the Property, or tor convoyance In place of condemnatlon, aro hereby assipned nnd
<br /> shall be peld to Lender to the oxtent of the tull emount of the Indebtedness that rem�ine unpaid under tho Noto and thls
<br /> Seturily Instrument. Lender shall apply such pror.oeda to iho reduction of the Indebiedness under the Note and thls Secu�ity
<br /> InstrumEnt, first to eny dellnquent amounts applted In the order provided In Paragraph 3, and then to prepayment o} princlpal.
<br /> Any �pplication ot the proceeds to tho ptlnclpal 3hnli not extend or postpone the due dete ot the monthly payments, whfch are _
<br /> reterred to tn Peragraph 2, or ahan�e the amount ot such paymente, Any excess proceods over en amount requlred to pay all
<br /> out�standing indebtedneas under tho Nota end this 3acurity Instrument shall bo paid to the entity legelly entftied theroto.
<br /> 8. F698. Lender may collect tees and charc�os authorixod by the Secretary.
<br /> 9. Graunds tor Acceleratlon of Debt.
<br /> �-�--- �--.._� �...�_ oY._._...�. .�._.... ..... ..,e.,.ae�e�.�to
<br /> � (A) E10i0UR. L@�IOCf IT�9�I. encnNi 6b m7uiiv`vj ioyumuvuo mo..a.. ..�...o wo....o.�.�. .....,...... ... ��...�...__.�.�. .
<br />- requlre Immedlate payment In tu�l o}ell sums socurad by this Sacurity Instrument It: _,
<br /> (i) Borcower detnuits by talling to pay In fuli any monthly pctyment requlred by this Secudry Instrument pdor to or on -
<br /> tho due dete ot tho next munthly payment, or
<br />_ (II) BoROwer daf�ults by faliing,tor u pedod of thlrty deys,to peHorm any other obliyattons contuined In thls SecuHty
<br />_ Instrument. -
<br /> _ (b) Salu W(thout Credit Approv�l.Lender ahall,If permltted by applicablo law and wfth tho pHor opproval ot the _
<br /> '- Secretary, requlro Immedinto payment in tull of all tho sums securad by this Secudry Inatrumont(i: -_
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