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<br /> � re ate umount not to exceed the maxknum -.;�,i_,�; �
<br /> Lender mBy. at any time, collect and hold amounts for Escrow Items In an agg 9 ,�: :,,=-_-°_°
<br /> amount thal mey be requked for Borrower's escrox account under the��8 Sbe ameendedniromoCmdu togtAme('aESPA'?exc pt � �__
<br /> §pgpt e� soq, nnd impbmontfng regulatfons, 24 CFR ParY 3500, as they Y _
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<br /> that the Cushion or resarvo permitted by RESPA tor unBnifCipated disbursements or disbursements before the Borrower's �u�•' . .n.^
<br /> Ipeyments are nvallable�n the Account may not be bBSed on emounts due for the mortpnpe �n6urenCO premfum. _.
<br /> , It the amounts helA by Lender for Escrow ���SPAClfetlte e�n unts tof fu ds`held�y Lendeb8t enyPlme are�ol aulHblenu�a .;,�,.•r;;'�.��
<br /> � to Borrower for the oxCess funds fls requked by , `7`f�,''��
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<br /> , �� pay the Escrow Items when due,Lender may notily the Borrower end requlre Borrower to make up the shortage as permftte Y
<br /> ' RESPA.
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<br /> �I The Escrow Funds are p�edgod as additfonel secu��iy for ell sums secured by this Security InstrumenL It Borrower tenderc : - ,
<br /> 1 to Lender the full payment ol all suCh sums, Borrowe�em um inslellmentelhat dLende nha5h�ot beCOmemObllgetedr lollpeYt�mthe �; __
<br /> items (a), (b), and (c) and eny mortgage hsurance p __-
<br /> Secretary, and Lender shell promptly retund an t S„�ISbe cradited�w th aey balance relma n npt fpa Boriecl 8 f�ents fa0'items(a)p(b), � -J�
<br /> or its aCqu i s i t l a n b y L e n d e r, B o r ro w e r s a c c o u :���'�
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<br /> , end (C). �_
<br /> j3. A plication of Peyments. All payments under Pateq�aphs 1 and 2 shflll be epplfed by Londer as follows: Y� —
<br /> IFIf81 to the mOrtgage k�euranCe p�emium to be paid by Lender to the Secretery or to the montnly charge by Ihe Searetary O
<br /> ' � hstead ot the monthly mortgage�surence premlum; ments or round rents, and fire, flood and other hazard �
<br /> SECOIId, to eny taxes, speclal assessments, �easehold pey 9 �
<br /> ' . Insuranco premiums,as required;
<br /> Thi�d,to hterest due under the Noto:
<br /> Fourth, to amOrtizatlon uf the pr(ncipal ot the Note; 8nd
<br /> Fifth�to late charges due under the Note.
<br /> 4. Fire, Flood end Other Hezard Insurance. Borrower shall Insure all improvements on the Property, wnecner _
<br /> now in existenCe or subsequently erected, agalnst anY harardS, casualtk�s, and contingencies, includfng fire, tor which Lender
<br /> requiros insurence. This insurance shaii be maMtained in the amounts and for the periods that Lender requ'res• B�loods to the
<br /> f also insure all improvements on the Property, whether now in existence or subsequently erected, agalnst loss by
<br /> �f • extent required by the Secretary. A���nsuranco shall be cBrrled with companles approved by Lender. The IneuranCe polbies and
<br /> ' any renewals shall be held by Lender and shail include Ioss payabb clauses mflA�`ndernmay make p ootPofb osS,�L�o emede _
<br /> In the event of loss, Borrower shall gNe Lende� immedlate notice by ment for such loss �.
<br /> ' •� promplly by Bortower. Each insurence company concerned is hereby authorlted and directed to make paY �_
<br /> ' � directy to Lender, instead of to Borrowe�and^onf ehee indebted elss under phe Note e db this 3ecurlty nsWmente fkst todeny
<br /> t' � Lender, flt RS option, niiiiei idi :c �hc te..�Cf._ ��
<br /> � delinquent amounts applled In the order N Paragraph 3, and then to prepayment ot princlpn�� or(b)to[ne rnst�rai�on of{°�"-"nf �'�
<br /> � the damaged Property. A�Y BPPlication of the proceeds to the prinC�pa� shall not extend or postpone the due date ot the — _ _ `
<br /> monthly payments wh�h are referred to in Paragraph 2, or chanAe the amount of such payments. Any excess insurence �^:�T=,
<br /> } proceeds over an amount required to pay ai� outstand'ng indebtedness under the Note and this Security Instrument shall be pald �.-_
<br /> to the entfty legally entitled thereto. � �=�-
<br /> In the event of foreclosure of this SeCU�ity Instrument or other transfer of title to the Property �urCha e�guishes the � �
<br /> indebtedness.all right,title end interest of 8orrower h and to tnsurance polbles i��orce sheil pass to the p
<br /> � 5. Occupency, Preservetion, Maintenance end Protection of the Property;
<br /> BOrI'OWCt''6 Loen r'•;y
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<br /> � j ApplfCetiOn; L@a88hold8. eorrower shan occupy, estab��:;h, and use the Property as 9ortowers princ�pal re5idence within �.�,�
<br /> ( sixty days after the execution of this S�OrowerstN���P�I residence�ordat lenst onteryea�efte�athe datet of oCCUpancy,�unless —_ -
<br /> s conlinue to aCCUpy the Property es Bo P q�
<br /> � ` Lender determines that requ��ement wlll causo undue hardship for Borrower, or unless extenuating circumstences exist wh�h are �T[
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<br /> , beyond Borrower's control. Bortower shall notify Lend oroallow t eBPr perty t c deterelorate, easonablehw'ee�oand eart excepted. - �,__�F
<br /> � destroy, damege or substantla��y Change the PropeRy take reasonable ��; .;�`
<br /> If the Pro ert is vacant or ebandoned or the loan Is In default.Lender may :.y;_�-
<br /> � 1 Lender may inspeCt the Property p y , Borrower shell aiso be � def9urt if Borrower,durin the Ioan `r.�:�•�
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<br /> I action to protect and p�eserve such vacant or aba�doned P operty.
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<br /> � applfCatfon proCess, gave mattfooywith ther�oen evdencedrbytthe NoteatncludngObutnnot Imited�t0.tepresentaHonseconcernfng , _��
<br /> materlal intormation) in connec �:=';.�,,�:?r7c�r
<br /> 8orrower's occupancy ot the Property as a principal residence. �} this SeCUr i ly I n s t r u m e n t I s o n a l e a s e h old, Borrower shall F� a�.
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<br /> comply with the provfsions of the lease. II Borrower acqukes tee t�lle to the Property, the leasehold and tee title shail not be �. �
<br /> merged uniess Lender flgrees to the merger in writing.
<br /> � 6. Condemnetion. The proCeods ot fl^Pro ert , orr forMeonveya cegin place of co demnae n�Iare he ebyCalsslgned fl�d
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<br /> cundemn[ttion or othe� takfng 0�eny pert ot the p Y
<br /> � Shall bo pa�d to Lender to Ihe eMent of the roceedsototthe reduCtlontof tho indebtBdnels5 un�lerf�the Notehend�this Secuhty �
<br /> , Security Instrumenl. Lender shall apply such p �g 8 ment of principal.
<br /> ' Instrument, first to any delinquent amounts app��ed in ihe order providetl N Perag�eph 3, flnd then to p P Y
<br /> Any application of the proCeeds to the prinC�pai sheli not exlend or postpone the due date ot the monthty peYmenls, whiCh are
<br /> reterred to u� Paragreph 2, or chango lhe emount of such pnymenis. Any excess proceeds over un amount requlretl to paY all
<br /> outstflndfng indebtedness under the Nole end this Security Inslrument shall be peid to tho enlity lega��y enlitled lhereto.
<br /> 7. Charges to Borrower and Protection of 8end e^o�R c9 ded i n Parflg ephp2.r Bo�rower� 5hfl I hpaypthese
<br /> � governmental or rnunic�pal chargos, ��nes and imposilions t
<br /> obliaat+ons on time diraclly to the enlity whiCh is owed the poYment. If failure to pay would adversely A��ect Lender's interest in
<br /> . ._ �...,a....�oin�c avidencfna ihe5e paymenls. .
<br /> the Property, upOn Lender's request Borrower sneii prompt�y�������'"'`°""PBra ra h 2, or tafl5 to pertorm any other coven8nts r
<br /> If Borrower tefls to make these peymenls or Ihe payments �equired by 9 P
<br /> . nnd ngrsoments contained in this Security Insirument, or there fs e bgel proceeding that may s�flnilicant�y e(fecl Lender'S r'phts �� 4
<br /> a tho Prop9rty (such ns a proceeding ui bankruptcy,lor condomnation or to enforce lews or regulations), then Londer mey do and I
<br /> pey whatever is nece55ury to p�oteC1 tho vuhio o� the Propert�� and Lender's rght5 �n the Property, including payment ol taxES. I
<br /> hazerd msuranco and olhur dems mentioned�� PA�g9�3Ph ?.
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