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<br /> • �/P�����`�Y . . l .�dn _i
<br /> ^: ma . at an time. co5ect and hold amounts for Escrow Rems u+an aggregate amo��t to exceed the max+mum '. ,• : ,��,�
<br /> _- tend.. Y Y .:_ .. ' .. �
<br /> . amount tha!msy be requued for Borrovrers escrow accounS under tha Real Estate SetUement ProceBures Act ot 1974. 12 U.S.C. �^-_Y^ - ^ _
<br /> . §2&Ot et se . and imlolementing regutations. 24 CFR Part 3500. as they may be amended from Gme to tsne ("RESP.1"). exce�t .-.`4•�.r.
<br /> thal the wshian or reserve permitted by RESPR tor unanUapated disbursemems or disburserrreets betore the Bortower's ` ..�, -
<br /> payments are emita6le in ihe accoun! may not be based on amounts due tor:he moRgage insurance prertsium : --
<br /> �}me amount9 held by Lender for Escrow Items exeeed the amounts pertnRLed to be hetd by RESPA. Lender shail accoum r i ; :�_
<br /> to Bortower tor t he excess�u n ds as re q wred b y F�ESP0. n the amounts ot tunds held by Lender at any Gme are not suffiaent to .
<br /> pay the Escrow Items when due. Lender may rr�My the florrower and require Borrower to malce up the shoRag°es PermRi e d 6y ...
<br /> I SiESPA. •- ' � '
<br />- ; The Escrow fund,are Qtedged as additianaf sewrity for ail sums sewred by this Sewnty Instrument. �� Bo�$'nst�e t � `_`� ` a
<br />_�-:� ..
<br /> to Lender the tuil paymem af all sueh sums. BoROwer's account shaJ bQ cxeddEd With [hg bala^p�cx���9 - ---- -`� -- --
<br /> ' items (a►. (b1. end (c) and any moRgaye insuran�e Premium inslaUment that Lender has not become obGgatfld to pay to the � ,. ,. . .
<br /> and Lender shall prompUy �nd �y���5�nds to Bs�wer. immediatety prior to a fore�dosure se►e of the Properiy ;
<br /> Secretary , � •- .•� T'�
<br /> ' or its aeq�is�ien by LEnder. Bortower s account shaU be cxedted with anY batance remzining for atl instaflments tor items (a�. (b). ; ` -Y�.� ..
<br /> . and(c). -'� •,- ._`�S;;z.'a�.r�_
<br /> �4 ra5t�r+�i� :. �
<br /> ' � 3,App(1CatlOn Of Peynleift9.AU pallmants under Paragrgphs t end 2 shaU be app��ed by Lender as tollows: ^ " _�,� ..�
<br /> or to Me monthry charge by the Seuetary �.-,-��-'���__
<br /> �� � FIr34,to the mortgage insurance premium to be paid by Lender to the Secretary � ���`.---
<br /> e insurance premium: :''r;`�..
<br /> ` instead of the monthly moRgag ' `-'s R"--� -"-
<br /> . ..._...r�:_3�__�.... �
<br /> Second, to any taxes. specia� assessments. leasehold payments or ground rents. and fire. flood and other ha�ard T`;���_�
<br /> insurance premiums, as required: '�rv.,-�.
<br /> ' Third,to lrrterest due under the Note; ."'L�=F
<br /> FOUfth,tu amort¢aUon of ine prinaRal ot the Note: and _ :::,. �"_
<br /> � Fiftfi,to Iate charges due under the Note. �� �'.- .�;
<br /> �;,, �;'
<br /> �� '� � 4. Fire, Fload and Other Marard ��su►ance• Bortower shaU insure at! improvements on Ne PropeAy, whether �
<br /> ereded. againsZ any harards. casuatties. and contingencies. inchtding fire. for which Lender .,,. : .,'�. :4.`
<br /> - now m e�dsten�e or subsequenUy _
<br /> requires insurance. This msuranee shail be mafn4ained 'm the amourrts and for the pertods that Lendzr requUes. Borrower shaU ��=.'"� -t,-.;
<br /> �.,.::-
<br /> � also insure atl improvements on the Property,whether now in exis[ence or subseQroved by LenderaThe msurance poficies end I�'
<br /> ' e�dent requUed by the Seaetary. Afl insurance sha0 be carried with companfes app :.,.i.:n F•-.:
<br />` any renewals sha11 he hetd by Lender and shaA indude loss payabte dauses in tavor of.and in a form acceptable to. L.e�der. ,, ,
<br /> � In ifie e+rent of loss, Bortower shaU give Lender immedrate no6ce by mail. LenAer may make pmof of loss il not made , ;�.
<br /> , ,�,
<br /> promptly by Bortower. Each insurance company concemed Is here6y sulho�o��e n uerance p'roceeds may be appfied by '
<br /> directly to Lender. instead of to Bortower end to Lender joinUy. A11 0► anY P �
<br /> Lender, at i[s opUon, e3h�s Ea) to the redudion of the indebte�ess under the Note and thls SewrftY Instrument. first to eny Y ;, ''s. �.
<br /> ' d e f i n q uent amourRs a ppGed in the order in Parayaph 3, and lhen to prepaymer�t of prmdpal.or(b)to the restoration or repair of �,�d,.
<br /> the damaged Froperty. My aPP � �'
<br /> lication of the proceeds to the pr5�espal sha l l no t e x t e n d o r p o s t p o n e t h e d u e d a t e o t the �!' �.:�:,, ;
<br /> . , mor�thty Ray+rt�is which are relerted to in Paragrapfi 2. or change 4[ze amount o1 such payments. Any excess insurance :.,��, f,��r+!-
<br /> proceeds ovc-r an amount required to pay aIl outstandm9 mde�tedness under the Note and this Security Inst�ument shaU ba paid - atV
<br /> � io the entily legally entided thereto. thal extinguishes the ��'��� � -
<br /> • In the event of foreciosure o! this Security Insdurt:=lt or other Uansfer at tiIIe to the Property �r:d��
<br /> .: �;�:::
<br /> � indebYedn�.atl rtght,tilte snd irrterest of Borrower in end to insurance poUdes in torce shall pass to t he pu�c h a ser. ,. � ,. ._.��'
<br /> � �}� � 5, p�pancy� Preuervatlofl, Maintenance and Prc'�action of the Property: Barrawar's Loan _.-.����
<br /> � establish. and use the Property as Bonower's principal re�idence within ;_r,_�y='�''°
<br /> B�pl'1Catlan: L�easeh¢fi.6�. Borrower sha0 occupy. �..�,: �.. ��
<br /> • e,_:;.y days efter the exec.�ticr of thls Securiry��sbument (or within sbRy days of a later�or transfer of the Properly}end shaU �4���;",�.��-_:.-�
<br /> � . co�nue to occupy the Property as Borrower's pdncipal residenee for at least one �e�r after the date of occupancy. uniess �,� �n�,
<br /> � � Lender��r�nrirr_s that requUement will cause undue hardship tor Bortawer, or unless extenuating dreumslanees exisl which ere —_ -.'=_
<br /> 6eyond Bo.^:.++�ers control. Bortower shall notity Lender of eny exten�tr+9 ctrcumstances. Bortower sha0 not comm(t waste or �y, _
<br /> destrpy, damage or substantialty change the Property er a".�w the Prcrerry to deteriorate, reasonable wear and tea�exceDted•
<br /> r..•:
<br /> Lender may inspeQ the Property il the PropeRy is va�t cr abandoned or the loan is in defaut� Lender may take reasonahle = _
<br /> •' actlon to protect and preserve such vacant or abandor.�r!r-*operty.BoROwer shall also be in defauft'rf Bortower,dur�r��e loan "f:._
<br /> • .;,, application process, gave materlally talse or ir.accurate infortnaUon or:�atr.ments to Lender(or taiied to provide Lender with any � :. �,,.:
<br /> materfal intar.naUon) in connecUon wfth s7rtr ir.an evidenced by the hcrr ;rr.tuding.but not Iimiced tn• �r�a*esentatlons concemmg
<br /> Bortawer's ocapancy c�` t1Ta Pro'�enN as a prinGpal residence. H tiy� 5ecurlty trrw•^�ent is o� a %�asefiotd, Bortov�er sh�'S ���•=__
<br /> ' aompry with the provM�ar:; c1 ihe (ease. B Bor►ower acquires tee titte ta the Fr�:�t�. �:".e leasehold and tee tiUe shaH not be ���-`,.�1,.'•.`•�_-..- �_
<br /> merged un[ess Lender agrees to the merger in writing. •''�'�" °
<br /> .��y,` �, Flq�t.�plfl�lAtlOn.The proeeeds of any aviard or claim tor d�m.ages. direct or consequenliai, in connecUon wRfi any •
<br /> condemn��`cn or other taWng ot any part ot the Propertyr, or tor conrr:y+u+ce in ptace o1 condemnaUan,are hereby assigned and _�_'
<br /> shail be pald to lende► td the extent of the tull amount of ihe indeatedness that remafis unpaid under the Note and ihis ,H,��
<br /> ` S¢writy Instrument. Lender shail appy
<br /> such proceeds to the reduction o1 the inde�tedneu under the Note and this Secudty � �'
<br /> � lnstrument. first to eny delinquent amounts applled i� �t�e erder prov?ded in Para�h 3, and then to prepaym e��h�lch are
<br /> ,� � qny apptlraUon oi the proceeds to the bdndpat sha0 not extend cr G��i'pone the due date of the moMhy paym ,�,
<br /> :��'��:'
<br /> • reterred to in Paragaph 2. or change the amount o1 such paymeni:. �ir,°/ excec..s prcceeds wer an Amount required to pay all ��"�,.t`.';
<br /> • � outstandng indebteQness under the Note and this Securiiy Instrument shall be pzd��c t`�e entity legaly entitied thereto. Mj ,��,
<br /> :�:_fY �
<br /> �7. Charges to Borrower and Protectlon o! Lender's Righis ir� tite Propert�. Borrower shall pay all °-, ; :,-•� .
<br /> ��--.; : ..
<br /> ° govemmental or municipai charges, fines and imposNons that ere not induded in Paragraph 2. Bortower sha11 pay these �.:F:������ �
<br /> obllgations on time d'uectty to the e�tity which is owed the paymenl. 11 tailure to pay would adversety aflect Lender s interest in ;:4•T�'- -•.�-_
<br /> � ihe Property.upon Lender's request Bortower shall prompUy tumish to Lender receipts evidencing these payments. �i; �: •
<br /> ' H Borrawer taJs to make these payments or the payments required by Paragraph Z. or taiis to pertortn any other covenants � _,.-
<br /> and aqreements coatefied in this Security Instrument. or there is e legal proceeding that may significantty eftect Lenders dqhts in .
<br /> the Property (such as a proceeding in baniwptcy,for condemnaUon or to enforce Iaws or regulaLOnsj,ihen �enaer may do anu -' �,-,-;
<br /> • pay whateve�ls necessary to protect the value ot the PropeRy and Lender s rights in the PropeAy. inctudinc�payment of taxes. . � ._
<br /> hazvd insuraace and other Rems mentioned in Paragraph 2.
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