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<br />��••`�' N�•�� ' ' � �V��� � _-_.
<br /> . Lundr.r may, ai any Umo, cullect and hold amoums Tar Esoro+v Items In an uggregate omoum not to exceed the maxinum� ,•�� •
<br /> 'nn,oum itud m;iy Uo roqulred lur �orrowcr's oscrow uccouni undci ihu RCiII GSIGIL Settlumcnl Procedurus Acl nl 1!174. 1: U3 G a0 ''�
<br /> y Z6U1 ul ;ry,+u�d unplr.inuNUU� roi�ulaUons, 24 CF Ii P��t 1 1500. :is Ihuy muy bu �wiandad liom uine tu lun�� �"N1=:�f'A'). ,�xc���,l .
<br /> �hat tho cu::hion or rascrvo pcimlUed by RESPA Iw uuimUupalud disbursemenls or dr.bursemenl�. huluiu Ihe (iar�ur�ci ,
<br /> . , :�� payment:nro rrvuUabin In Iho aaCOUnt muy not bolrie�U e�n amounts duo lor lho mart!�uga insui�+ncu prcnuwu '
<br /> II Ihu nnwuntr heitd 6y 4ender lor Escrew i�emr;eccued Iho.:mounls punnliled to b« lir.ld by RESPA Lund��� ����,�il .���.uum 'y'��
<br />�.'r�, �, In Fiorrowcr }or lha oxcoso lunds iw raquirad Uy{IE�PA It Iho c�mounts ol lunds hcld by Lendi�r �d wiy Imic �iru nui �.ulhci����i lu �., ti:-
<br /> �� ,t•� pey lho @scrow Ilcros when duu. I.ender mny noliN lhe[ioirowur und requlrn Borrovwr lo make up Iho sl�u�inyu�c. prnmurd t�y
<br /> ` NESPA-
<br /> � �� • ,, 'fhn Escrow Fundo nro pled{�od ns edditlunal s eaxity lor all sums secured by Ihis Security InSUumenl II Borrawe� tenders °�-;;�"
<br /> '�<�s,: :�..._- ,
<br /> to Lender Iho lull payrnent ol nll such eums, 8ono•weis accounl shall Go creditad wilh lhe bnlunc� remaming lor all in:.talhnenl
<br /> _�_��e�, items (n). N). and (c) end �ny mortgac�o fnsuranco pornium Installment thnt Lendor has not become obligate:l to pay Io the �kti..
<br />_. Secretury.and Lender shall promplly rolund any exca3ss lunds to Borrower Immudialely prior lo a loreclosuro sale ut Ihe F'roperty :�,_
<br /> � '� or its acqulsition by Lender, dorrower's account shc�allbo credited wrth nny balanco remaiNng lor ail installmen►s lor rtems (n� (b) 4,r-::
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<br /> �':�E.F;::� nnd (c). °°-
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<br /> ,;;'"�,• � 3. Appllcatlon ot Payments. All p¢ymereteunder P�ragrephs 1 and 2 shall bo appliod by LendQr as lollows. _
<br />.. ��',-5.::��; �.."
<br />`-�-�� � _ First, to thq mortgape Insurance premium to bepaid by Lender to tho Secretary or to lhe momhly churgo by the Secmt.�ry �
<br /> v.;
<br /> .; instoad oi the monthty mortgage insurance premium:
<br />--�� (eY�' SeCOnd, to any taxes, special assessments,le�sehold pAyments or ground rents, and tiro, tlood ond other hazard
<br />::_.7'-���-•,«
<br /> __.,�;,;,.C , Insurance premiums, as roqulred;
<br />�-;,;;�,R,� inird� to interest due under lFie Note; ___
<br />'-��i1,+`ir:i� Fourth,to amonizeQon ot the pdnclpal of ihe Note:end _
<br /> '�•'�i;:�v Fifth, ta late charges due under tho Note.
<br />°_:�.���f�.
<br /> 4. Fire, Flood and Othdr Haza�d IR 5ura�lce. Borrower shnli Insure all Improvement� on tho Propeny, whether
<br /> fi��'5��� now in existence or aubseqaently erected, sgainst eny hazards, casualNes, ond contingendes, Including tiro, lor which lender
<br />_ _-._=�an.�� requlres insurance. This Insurunce shell be malntefned In Ihe emounts end for lha periods Ihat Lender requlres. Borrower shall
<br /> -`'u�� also insuro all Improvemenis on the Propedy, wheihw now In existence or suhsequentty erected, ngainst loss by Ilaods to the
<br /> �w.rrirua���
<br /> _ ..� extent required by the Secretary.All insurencQ shafl bo canied with companfes approved by I.ender. The insurance policies and
<br /> ___.-,g�,� nny renewals shall be held by Lender and shall NcEude loss payahle clauses in tavor o1,and In a form accuptuble to.Lender.
<br /> _ — In lhe event of loss, Bonower shell give Ler�d�r immediate notice by mail. Lender may make proal oi loss it nol made
<br /> — promptty by Borrower. Each Insurance company concerned is hereby authadzad er,d dlrected to make payment for such loss
<br /> __--- directly ro Lender, Instead of to Borcower and to Lmder�ointty. AII or any part of tne �nsurance proceeds may oe aF,poed �y
<br /> "� Lender, at lts option, ellher (a) to the reduction oi Iho Indehtedness under tl�e Noto and ihls Security Instrument, Ilrst tu any
<br /> ��^� dellnquent amounts flpplled In tha order In Pa►apraph 9, nnd then to prepayment M principal,or (b) to the restoration or repair uf
<br /> _ - the damaged Property. Any application of tho praeeds to the princlpal shall not extend or postpono tho due data ot tho
<br /> __,=;�� monthly paymenis whlch ere re7eRed to in Parag�ph 2, ar change the amount of such puyments. Any excess insur�nnce
<br /> ---- ---- proceeds over an emount requlred to pay all putstandng Indebtedneas under the Noto and ihis 9ecurity Instrument shali be paid
<br /> to the entity legalty entftled thoreto.
<br /> In the event of foreclusure of thla Secudy Nst�vmnnt or other transfer of title to tho Pruperty that exlinguishes the
<br /> Indebtedness,all d�ht,title end Interest of 6orrower h a�d to Insuranco policles In torce shetl pass to the purcheser.
<br /> 5. Occupancy, Preservatlon, Main�enaa�ce ao�d Protectlon of the Property; Borrawer'� Loan
<br /> Appticat�on; LeA8YhOlds. Bonower shall occupy, establlsh, and use thQ Proporty as Borrower's prfncipel residence within
<br /> slxty days after tho axecutlon of this vecudly Instrurcent (or within slxly days of a later sale or trenater of the, Properey) and shall
<br /> continue to occupy tho Property as Borrower'e p�nclpal residence tor at least one year sfter the date of occupency,unless
<br /> - Lender determines thnt requlrctmrtnl will cause un�uehardship for Borrower, or unlnss extenuating circumstances exlst whlch are
<br /> — beyond Borrowar's contrql. Borrower shall notily Lender ol any extenunting circumstences. Bortower shall not commit wzste or
<br /> destroy,damage or substantlally chenge tho PropeAy or allow the Property to doterforate, reasonablo wear end tear excepted.
<br /> Lender may Inspect tho Proporty it the Property i�rar:ant or ebendoned or the loan Is In detault. Lender may take reasonable
<br /> actton to protect arld preserve such vacunt or ebandoned Property. Borrower shall elso be In detuult It Borrower, during Ihe loan
<br /> eppllcatlon process, gave� materialty fulso or inecceirele inlormatlon or statoments to Lender(or failed to provide Lender wilh eny
<br /> materfal Information) In connoctlon wlth the loan avidenced by ihe Note, Including, but not Ilmttod to, representutlons concerning
<br /> Borrower's occupancy ot the PropErty as a pdn dpal rosldence. If thls Secwity Instrument is on e leasehold, 6orrower shall
<br /> comply wlth the provislons ot tho leaso. If Borro�ver acqulres fee title to ihe Property, tho leasehold and fde tftla shap not be
<br /> merged unless Londer agrees to Ihe merger In wri�[fng.
<br /> ;v';;'^?� 6. Condemnatinn. The procoeds of any avrard or clalm tqr damages, direct or consequentlal, in connectlon wilh any
<br /> ��'� condemnatton or othor takinp ot any part of tho Property,or for conveyanca In plece ot condemnatlon, ere nereby assigned nnd
<br /> � - shall bo paid to L�ndor to tho oxtent ot tho fu II emount ol tho Indebtedness that remulns unpald undor the Note and ihis _
<br /> --�� Securiry Instrument. lender shall epply such pracreds to tho reductlon of the Indebtedness under the Noto and this SQCUrity
<br /> -- _-�w,�,� Instrument, fir3t to Any dollnquent amounts 2yplled h the order provided in Paragruph 3,and ihen to prepayment of princlpuL
<br /> _;;���� Any application o}tho procoeds to tho princtpal shd �ot extond or posipono tho due date ot tha monthly payments, which are
<br /> ;,,,-� referred to In Paregreph 2, or chang9 the amount ol such p�yments. Any excoss proceads over an amount roqulred to pay elI
<br /> ---•- ��`��� �
<br /> outstanding Indebtedness under tho Noto and thls Secudty Instvument shall be pnid to the entity logally entitled thoreto.
<br /> __,_._--�=,� 7. Charges to Borrower and Pro4�cHon of Lendor's �18z�his in the Property. Borrower sha�pay en =
<br /> ��,� --' "� -'• —'•-'-'--' -�----- °--' --� s_...�zu....� �w..� ...,.. ....� b..J...dod In Pu.nn.nnh 9 Finrrnwar Chall nav the5L+ _..
<br /> - r�iR='-,-' gvvcrrnnc�na� �i munrv�Frai ..��mdvo. .��.00 a..,, ..�w........... ...... ..... ..... ......_--- ... .__p.T.. - -- - . .
<br /> --__:c'-N)��..i. -
<br /> __"•�y`.,,,:; �:�y�� ohUg¢tions on time directly to tho entity,vhlch Is owed the payment. If iailuro to pay wauld adversely aNect Lender's inlerest in �-;
<br /> ;��'�`',;��'r�'j [ha Froperty, upon Lender's requost Borrower sha�promptly lumish to Lender recelpts ovldencing lhese pnyments. _.
<br /> ; b.�,._�.•. -
<br /> - ••ti•y�r If Borrower feils ro make these payments or Ne paymonts required by Parapreph 2, or talls to perform any olher covennnts �,
<br /> ,.,..'+�_. .4�.
<br /> � and Agroements contalnad In thls Secudty insimmenl, or thero i�a legal proceodfng that may slgniticentiy affoct Lender's dghis in
<br /> �+RC�,'�' �:
<br /> t����i� ;;�i tha Property (such os n proceeding In bankruplcy,br condemnation or to enforce laws or regulatlons), than Lender may do and
<br /> ''•'�:,;{..,;�. pay whntever is necessary to protect the voluo ollh� Property and l.ender's rights in the Property. U�cluding paymenl ol tnxes. �°
<br /> - --�" huzard msurenco end other items mentioned �n P�regraph 2- �
<br /> lt�rfa�:+'I.,Y� - �
<br /> .-Z•.�Q1'3�, F9o,e lmli 17/96� c•.�n,�. �� .� ��
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<br /> 9G771 =.
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