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<br /> �� If the amounts held by i.ender for Escrow Items exceed the amuunts permittcd to bc held by RBSPA, Lender
<br /> � shull nccount to Borrower for the excess funds as required by RPSPA. lf the f►mounte of funds helel by I.ender at any
<br /> time is not sufficient to pay ths Escrow Items when due,Lender may notify the Borcower and require Borrower to
<br />:o,,� make up the shortage as peruiltted by RflSPA. �
<br /> T h e E s c r o w F u n c l s a r e p l e d ged as addltionsil securiry for all sums secured by this Securiry Instrument. If :�,
<br /> Bonower tenders to Lender the full payment of all such sums,Borrower's aceount ahall bc c s�e d tt e d wi t h t he b n lan c e _
<br /> � . remaining for all instellment items(a),(b)�and(c)and any mortgage insurance promium installment thut Lender lias �:�°
<br /> not bec:ome obligated to pay to the St�cretary. and Lender shull promptly refund any oxeess funds to Bonower.
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<br /> Immediatcly prlor to a foreclosure sale of the Property or its ac�uisitlon by Lender, Homo�ver•s acco«nt bhall be ���`
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<br /> credited with any t�alance remalning for all installments for items(a),(b),and(c}. e'_"
<br /> � �� 3.Application oT Paymeuts.All payments under�aragraphs 1 and 2 shall be applied by Lender as follows: _
<br />� �� '�,t,to the mortga�e in.5urance premlum to be puid by Lendet to the Secretary or to the monthly chttrge by the -
<br /> , Secretary instead of the monthly mortgage insurance premium; �
<br /> Sg��c,to any taxes,special assasments,leasehold payments or ground rents,and fire�flood and other hazard _
<br /> insurance premiums�as required� ��_
<br /> ir ,to interest due under the Note; __.._
<br /> ' ou ,to amortizxdon of the principal of the Note;anai �;�_:
<br /> �t' �,to late charges due under the Note.
<br /> . � 9.]F�'i�•e,Flood nncl Oth�r Hazard Iasurance.Borrower sh�ll insure all improvements on the Property,whether
<br /> , now in exlsten�.e or subsequently erected. against any traruds�c�sualties,and cantingeucies, r.ncluding fue,for which � _
<br /> ,' ., L.ender requires insurance• Thls insurance shall be meiatained in the amounts and for tbe pedods thlt I.ender __
<br /> -.. �' r�qulres. Borrower shall also insure all impmvements on the Property, whether now in exiatence or sumsequendy -_
<br />• : ` Pr�x.re�. arainst loss bv floods to the extent reguired by�he Secretary. All insurance shall be carried with companies
<br /> ��"'"`�'`� �' approvr,rl by Lender.T1ae insurauce pollcie9 and uny rcnewals shall be held by L.enaer and s��ii incivae Iwa payn`vie
<br />� �`'• clnuses in favor of,and in tt form acceptable to,I.ender.
<br />--��,•x=;,� In the event of loss,Borrower sbell give L.ender aunmediate notice by maU. Lender may =n�ce proof of toas if not
<br /> °��:�;-•� made prompdy by Borrower. Fach insurance campany wnceraed is henby awhorized and dicxted to maFca paymaat
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<br /> .�:�,nz:� for such loss directly to Lender, instead of to Bonower and to I.,ender jointly. All or any part of the insurance
<br />:Y:..��,� procads may be applied by Leader, at its optton, either(a)to ttie reduction of the indebtedn�ss t►nder the Note and
<br />___r�,� this Securlty Instrumes►t,Srst co any delinquent amounte appliod ia thc order in paragraph 3�and thea to pt�payment
<br />--�-.=,,,,_�-,�,�� of principal, or (b)to tbe restoration or repair of the damaged Property. Any applicationi of the procesds w the
<br />- �_���� principal shall not extcnd or postpone the due date of ttie monthly payments which are refcrred to lu paragra�sh Z, or
<br /> - '��%���� change the amount of such paymenis.Any eacPSS iasurance pmceeds over an amount requlrtd to pay all outstanding
<br /> -��"''�'� indebtedness undar tha Note and this Socuriry Instrument shall be paid to the eatity tegally entitled thereto.
<br /> -� In the�vent of foreclosare of this Securlty Instru.ment ar other tr.ansfer of title to @�e Properry that extinguisLes
<br /> ,:�,,,;v;,,�, the indobtedness. all rlght. tide and interest of Borrower ln and to insurauce palicies in torce shall pass to th�
<br />;_°_�� purchaser. -
<br /> - 5. Occupancy,Preservatfon� MatatcnaLCe and Protsction of the Praperty; B�orrowa's Loan Applicatlon;
<br /> --�;�.,��, Leasehalds. Borrawer shall occupy,establish,and use tlie Property as Borrower's principal residence within eixty
<br /> _ `�->� days after the execudon of this Securiry Inshvm�nt(or within sixty days of a later sale or tcensfer of the Property)
<br /> - _---�— and shall continue to occupy the Property as Borcower's prlacipal residence for ac least one year after the date of
<br /> -��-� oceupancy�unloss Lender deternilnes that requinment will cause undue hazdship for Borrowcr,or unless extenuating
<br /> y=�y`�y�=�"° c;rcumstances eaist which an beyond BonowePs cantrol. Borrower shall notify Lender of any ext�nuating
<br /> �"°"` °— circumstnaces.Borrower shall not commit waste or desuoy,damage or substantially change the Pmperty or allow tIie
<br />-i''�;'� Property to deteriorate.reasonable wear and tear excepted. Leader may inspect the Property if tkie Property is vacant
<br /> °�� or abandoned or the loan is fa default. Lender may take rcasonable action ro protect an3 preserve such vacant or
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