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<br /> �I�' ��ll�d�l9 ` � -- .. ,_.�_��.,-:..- ._.
<br /> Lender rrtay. at any tlme. coltect and hoid amounts tor Escrow ttem�s in an aggregate amouni not to exceed the maximum . ' •<r� .�' � "`. � `,
<br /> amount tha2 may be requ'ved tor Borrower's esaow account under the Real Estate Settlement Rrotedures Act ot 19?4. 12 U.S.C. ". �(� `� •- '= `
<br /> 326Q1 et s�and impkmenting r�guhauons. 24 CFR Part 3500. as they may bs amended Irom time to Ume ('RESPA'). except ,5�-�,,,;.G�_ /__
<br /> that the cushion or reserve pertnitted by RESPA fa• unantiapated disbursements ar disbursements betore the Borrower's • ' L,'-•_[Q T —
<br /> payments are avaitab!e in the 2ccount may not be Eased on amounts due tor the mortgage insurance premium. •ny
<br /> (}� amounts heid by Lender for Escrow ftems exceed ttie amounts permitted to be held by RESPA. Lender sha0 aceount � �� �
<br /> to Bortotive►for the excess funds as required by RESPA. If the emounts oi funds held by Lender at any time are not sufficie�t to , , �, _
<br /> pay the Escxow Items when due.Lender may notity the Bovower and require Borrower to make up the shortage as permitted by � f. � . �_�
<br /> RESPA Instrument. tf Borrovrer tenders r� �
<br />- The Escraw Funds are pledged as additionat security tor all sums secured by this Security _
<br /> to Lender the fuN payment ot all such sums. Borrower's account shall be cred'Red with the balance remaining tor all mstatiment , - —
<br /> J items {a). (b), and (c) and any mortgage insurance premium insta4ment that Lender has not become obligated to pay to the , . . " ,
<br /> ? Sea'e t a ry.and Lender shall promptty reiund any excess tunds to Borrower.Immediately pnor to a toredosu2 sale of the Property y4,,.�r_„_`�-
<br /> or its acquisition by Lender.Bo�rovrers account shaU he aedited with any balance remaining tor aU instaliments tor items►,a).(b)• �; ;_:��_°
<br /> �� �d ��� . '. .�_.��r._�-.
<br /> hs 1 and 2 sh211 be applied by Lender as foUows: Y` r;,`�.""�''`"
<br /> 3.Apptication of Payments.au paymenu under Paramau �'.• ,-���=y
<br />•' or to the month.y charge by the Secretary
<br />. First,to the moRgage insurance premium to be paid by Lender to the Seaetary _ '-
<br /> . instead ot the monthty mortgage insurance premium:
<br /> S9COiBd, to any taxes. sPecial essessr�ents. leasehotd payments or ground rents, and fire, flood and other hazard . i�'��*�r����;�_:
<br /> insurance preMums.as requied . �' ,:+xi —���-�-J-
<br />" . Third,to frrt�due under the Note: �` ;, � ._
<br /> '',l,` , ,_�`•... _
<br /> FOUIrti7,to amort�tion of ihe principal of the Note:and '''"-`�==-==
<br /> ,<•.�•: =
<br /> . r zz�F7:�r�F•
<br /> Fifth,to iate charges siue under ths Note. � � " .�
<br /> :;' �—����-w="---
<br /> '- 4. FiPe, FIpp�1 and Othet U1�S�L9 InsufanCe. Borrower shall insure afl improvements on the Property, whether , _ R,
<br /> endes, indudin fire.1or whidt Lender -"��" - �-,;�`.� _ _ _
<br /> now in e�6stence or subsequently erected. E9ainst ar►Y hazards, casuatties. and conting 9 . �.. . . -
<br /> requires insurance. This fisurance shali he maintained in the amounts and tor the petlods that Lender requires. Borrar.�shail ,;;� �'`+., % �' �'�,-� �
<br /> .,��V Y
<br /> atso insure all improvements on ihe Property.whether now in existence or subsequently eredad. against loss by floods to the �_�""�!�'
<br /> extent required by the Seexetary.All inslrnce shall be cazried with companies approved by Lender.The insurance poliaes and ,.,�-�e�.
<br /> ex °
<br /> any ren2wais shaU be hetd by Lender and shall indude foss paysble dauses in favor ot.and in a fortn acceptable to.Lend�. �`j M1. �:_�_
<br /> In the flvent of toss. 8arrower shall qive Lender immediate notice by mail. Lender may make proot of loss it not rr�de - z� _
<br /> promptty by Borrower. Each :nsurance company concemed is hereby author¢ed and�rr�ted to make payment for such loss ,• ( .�
<br />. t�,;
<br /> direcUy to Lender. instead of to Borrawg �:d to Lender jofitty. All or any Part of the R<arance proceeds may be applied hy -�::� :
<br /> Lender, at its optlon, either (a) to the reo�on of the indebtedness under the Note e.Rd this Sec,u:y Instrument, first to any �+•, �'•
<br /> �;j�.� .'�."•.
<br /> " delmquent amounts applied in the order n!'ara3raPh 3,end then to prepayment of pdnc;.a!cr(b)to�^�restoration or repafr oi `�, , :;,...-
<br /> the damaged Property. MY aBD���tion cf '�`4 proceeds to tha principal shail not e#c3rd or postyone the due d�.e ot the 's'��, �_
<br /> ents. My excess i-surance � � �-'s r.�
<br /> .�anthty paymeMs which ern :2terred ta •r ?aragr2ph 2. or change the amount ot such paym �..p
<br /> proceeds u:r�an emount req'Jired to pay df.eststandfig indebtedness undet the Note and ffiis Securtly Instrumerrt shall be paid ! �~� _... - ';;i,' , __
<br /> _._ .�.., ,
<br /> ' to the enrre r�aily entitled thereto. , ���;^ _ .
<br /> � In the event oi foreclosure of thts Security InsVument or other transfer of tiUe to the Properly that extinguishes the -. � �rt;•4, , f.
<br /> � indebtedness,all dgM.tille z.�interest of Borrower in znd fo(nsurance policies in force sfiall pass to the purchaser. '��^ ��s .:.:_
<br />' p rty Borrawer's Loan
<br /> .• �.�i.-.
<br /> ,.�. 5. Occupancy, Pr��enration, Maintenanzca and Protection of t�aa Pro e , i�•��
<br /> Applieation; L08SBh0lds.Bortower shall occupy.estabtish, and use the Properry as Borrower's pdndpal residenee wfthtn _ .-..� __,
<br /> sixty days after the execuUon ot this Securily Instrument(or withc�:.odyt days ot e later sale or transfer of the Property)and shall �Y„�: _
<br /> ' cantinue to occupy the Properiy as Borrower's ptficipzS residence far at teast one year after the �ite of occupancY. unless �_ ,�� �`
<br /> Lender detertnines that r�?1�zment will cause undue h�rl��i�for Borrower. or untess extenuaUng circumstances exist which are +'.
<br /> beyond 8oaower's contrcs. E�rrower shall notify Lender cf any extenuating e ircums ter.c°s. 9 o r r o w e r s h a 1 1 n o t c a m:�n w a s t e o r „_;,�
<br /> ' .� ,�_
<br /> .� ,1?. ',F,,:�
<br /> ' desVoy. dama9e or substandelly change the Property or aliow the Pra,�erty to detera�?a, reasona'r.+s wear end tE7 excepted. rl�`.'�". . , .��,t.' �,,;
<br /> LenAer may inspect the PropeAy H the Property is vacant or ebandon_3 or the loan is in defautt. lar9er may take reasonabte � ,-
<br /> actlon to protect end preserve such vacanl or e6andoned Property.Bosrower shall also be in defautt d 8onower, durfig the loan „ tr•ti.�:;,_._
<br /> + ; :.jtt;s�, :.
<br /> . application process, gave m.a:erially faise or inaccurate intortnation or statements to l.�der(or tailed to pvovide Lender wilh any �., • „:_,.A�r, ��
<br /> • 9 �• ; ,, :.,��
<br /> � material intortnaUon) in connectlon with the loan evidenced by the Note,including, but nol Iimfted to, represenffiUons concemin t..
<br /> ��J�� Borrower s cccupancy ot the Property a:. a pdnGpal residence. Fi th:3 Securiry Instrument is on a Ieasehoid. Bortower shall ' " ' '1;f.':
<br /> • �. �,�r,r."r.'� r
<br /> ,�``1; comply K�t'� the provlsions of the lease. if Ecrrower acquires fee titi2:o ihe Propedy. the teasehoi3 and tee tiUe shall not be ��, ' . �.�'�����. '���
<br /> vl,• -�_.
<br /> • '��`•°1, -
<br /> merged untess Leader agrees to the merger,n wriHeg• {�`;'� i
<br /> 6. Cond8lnn8ti0n. 1"he proceeds of any award vr ctaim tor damages, dlred or consequential. In wnne��on wtth eny :n;�_�_����,=--
<br />' ;';;;� condemnaUon or other taking o1 any paA o1 the Property. or tor wnveyance in placz c� condemnaUon,are hereby�.�igned and --=r:
<br /> C �°2f�.. _.
<br /> .;� shall be pzd ta Lender to the extent o? the tull amounl of the indebtedness th2t r�^�ains unpzid under the Note and this � . E�� J
<br /> � Secudty Instrument. Lender shell appy s.a+► proceeds ta the reduction of the indeb�e*s�ess under the Note and this Security �:,:,.�— ;
<br /> .cva��fracii_.—:--r
<br /> Instrument,iirst to any definquent amoLn:s applled in the order provided In Paragraph 3.and the�e to prepayment of pdncipal. ;��r^_
<br /> Any appOeaUon ot tho Fraeeeds to the prindpal shall not extend or posipone the due date of the monthiy payments, which are •��'�
<br /> reterted to in Paragraph 2. or change the amount of such paymeats. MY excess proceeds over an amount required to pay all ,�,�r;. ., M � „
<br /> , F...,:.
<br /> ,.;�,.;`� outstandng Indebtedness under the Note a�d this Securiry Instrument shall be pald to the entiry tegsly entiUed thereto. '•s......_:,,.,,,�r.-:. •
<br />.�..:5t.. •�--rt.�.RO..,se�.��;e:
<br /> T. Charges to Borrower and Protestion of Lettder's Rights in the Pro�sc�4y. 8ortower shall pay a7 , •••��
<br /> govemmental or munidpat cherges. fines and imposiNons tha2 are nol i�cluded in Paragraph 2. Bonawer shall pay these � '�'��;F�'�
<br /> o6flgaUons on Ume direcUy to the entily which Is owed the payment 11 taliure to pay would adversety aftect Lender's interest in , -�,--n�-- _
<br /> � the ProperC/.upon Lender's request Bortower shail prompUy tumish to Lender recelpts evidenGng these payments. •.++x.�.�:rt++�� ��`
<br /> ��gprtower laiis to make these payments or the payments required by Paragraph 2. or tails to pedortn any other coven�nts . ,' ' : �,;�-
<br /> � and agreements contained in this Security Instrument. or there is a legal proceeding that may signi(icanty atiect Lender's dghts in • ._ _
<br /> the Property (such as a proceeding in baniwptcy.tor condemnaUon or to enforce [aws or regulations),then Lender may do and • . _,,.
<br /> pay whatever is necessary to protect the vatue o1 ihe Properly end Lender's rights in the Property. including payment ot taxes. : �.
<br /> �;:.
<br /> '�' � hazard insumnce and other items mentioned in Paragraph 2. _ : � �•
<br /> . ,' -.c-::;.
<br /> .-:'--'�._ - . -
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