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<br /> � 96— �09:38� _
<br /> If the nmounts held by Lcnder for 6scrow Item�excecd the amounta permitted to bc held by RESPA, Lcnder �`-
<br /> • shall account to Borrower for the excess funds ay required by RBSPA. If tho amounta of funds held by I.ender at any �::_
<br /> :�M� time are not sufficient to pay the Escrow Items when due,Lender may notify the Borrnwer�nd sequim Borrower to ��-,�.
<br /> rnake up the shortage as permitted by RESPA. �:_
<br /> � The Fscrow Funds are pledsed as additionAl security for all sums secumd by this Securiry Instrument. If a;_
<br /> i Borrower tenders to Lendar the ful!paymcnt of all suc4 aums, Iiorrower's account shall be cc+edited with the balencc
<br /> , � '� eemaining�'or a!1 installrnent itema(a). (b).and(c)and any mortgage insurance premlum installment thnt Lender has =•
<br /> � not become c�i.:gated to pay to the Secretary. and Ixnder shall promptly refund any excess funds ro Borrov�cr.
<br /> Immediately rr.�z to a foreclosure sale of the Prnperty or its acqufsitlon b,y Lender, Borrower's account shall be
<br /> credited wit�auy balance remaining for ell instellments for items(a),(b),and(c).
<br />° , 3.AppliaetQon of Payments.All payments under paragraphs 1 and 2 shall be applied by Lender as follows:
<br /> -� �• �:�, r�t,to the mortgage lnsurance premium to Ue paid by Lender to tha Secreu►ry or to the monthly charge by the �
<br /> _,= y'••' Secretary instead of the aionthly mortgage insurance premium;
<br /> . Secon�l, to any taxes,speclal assessments,le�sehold payments or ground renta.aad fire, flood and other hazard
<br />-:<Y~,�`'�'. � insurance premiums.as sequired;
<br /> Third,to interest due under the Note;
<br /> �:��i,�:. :: P°urth,to amortization of the principal of the Note;and
<br /> -°��' .;, • t�fth,,to late charges dae under the Nots.
<br /> - � 4.Fire,F1ood and Other Hazard Insw�ance. Borrower shall insure all improvements on the Property,whether
<br /> -- � now in e�istence or subsequeatly erected,against any hazards,casualties,and contingencies,including fire,for which
<br /> ,,;i I.ender requ3res insurance. This insutaace stitui be mainuiinea in iuC awuunis :u�u iur ii,c �tio�io 'u`�di :.�'ru.:=
<br />.�`,^�:.'��`� requires. Boirower ahall ulso insure all improvcmenta on the Property, wLether now in existcnGe or subsequently
<br /> �n�; erected, ageinst Ioss by iloai�io t�e exieat rct�ut..,:hy it;e�s�i�. All ltzs��ranrr_.chell be carQied with comPeRie9
<br /> �*,6...,x
<br /> -'�"'•'"•"�''� ' approved by Lender. The insurance pollcies end any renewals shall be held by I.ender end shall include loss payable
<br /> ,�.��,..�,. ,
<br /> _���u;;�, �; clavses ia favor of,and in a form acceptable to.I.ender.
<br /> -�•_�c a-���, In the event of loss,Borrower shall glve Lender immediate notice by mail.I,ender m�y mnke proof of l�ss If not
<br /> ' =y'�^'�€� made prompily by Borrower.F,ach insurauce comPanY cottcemed is hereby authnrized and dicected to make payment
<br />�����`-y.,`�7`'� for such toss directly to E.cnder, instead of to Bonowor and to I.ettdcr jointly. All or aay part of the insurana
<br /> ;;:,-a., .
<br /> - proceeds r„r,,�b„applIed by Leader,at its option�Bither(a)to tbe nductlon of the lndebtalness under the Nou aa
<br />— =�'� this Secu�::y Y:.strumant,first to any delinquent nmounts applied in the ordor in puragraph 3, and then to pnpaymeut
<br /> -��-'l'''�,�� of principal, or (b) to tho restoration or repair of the demaged Proporty AnY application of the proc�eeds to the
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