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<br /> � . 974 9,���6 . : �, .
<br /> Lender may. at any tima. colJECt and hold amounts (or Escrow Items m an aggregate amoun! not to e�cceed the ma�timum �• ; �. �. ,
<br /> amount that may be required for Bortower's esaow account under the Reai Estate Sei'Uement Procedures Act of 1914. 12 U.S.C.
<br /> 3 2601 et se . and imple�nenting regutaUons. 24 CFR Part 3500, as they may be amended from time to Ume ('RESPA'�. except _ ��`��."� , -.
<br />� that the eushlon or raserve pemsttted by RESPA for unanbdpated disbursements or disbursements betore the Borrower s � „ �-
<br /> pay�ments are available in tha account may noi be based on amounts due for the mortgage insurance premium. .: ;�,; �� t"'
<br /> Jt tfie amounts held by Lender for Esaow ttems excee� the amounts pertnmed to be held by itESPA. �ender shait account ---=--_----- -,- -
<br /> to Bortower for the excess funds as requ'ved by RESPA. If the amounts of tunds hefd by Lender at any tlme are not suffiaent to • � � .
<br /> pfly the Escrow items when due. tender may notily the Boncwer and require Borro�ver to make up the shcrtage as permitted by • " �...,.�,;
<br /> RESPA. ; , •
<br /> The Escrow Funds are pledged as additional security for all sums secured by this Seatrity instrument. if 8orrower tenders ". _
<br /> " to E.ender the(uti paymeni of ali such sums. BoROwei s eccount shall be aedited with the balance remaining for a11 installment __ _ _ _ �
<br /> items (a), (b), and (c) and any moRgage insurance premium instaliment that Lender has not become obligated to pay to the � � �
<br /> Secretary,and Lender shal promptty retund any excess funds to Bortower. Immediatety prior to a foredosure sale of the Property , _
<br /> or its acquisitlon by lender, Borrower's acwunt shali b2 aedfted with any balance remaining for all installments for eems(a). (b). .,.. _.. . _
<br /> t-. �d (c). `s�"�i . � . ..�:.�.,�.�.�'r�i::--
<br /> vt,ss•=3•�c,'.. A_ . -
<br /> '"""� 3.L�.T�lic2+ii�e� t� Paye�non4s.AA pa ents undet Pata hs 1 and 2 shatl bz applied by Lender as follows: ,ti��•yt�� ��
<br /> -S1
<br /> F€e�,tc'�-e n:c:�2ge insurance pfem��o be peid by Lende�r to me Sec�.7+o-2�t�e^�a�:-ty charge by me Secre[ar}� f�f��i� t L ` ''1 ° �' ,:
<br /> °� instezd c::he r.,�.�'; r,:.��ga8e insur�.ncz prerEc^s: r�`,�'j � � ��.�,� .--� '
<br /> ��;'+,'�`yv'� �-af
<br /> c��:.�. '� d Y �.s. sPeaal assessments. 1�asehald payments or ���na rants. an3 fi-e. G�cd ar.d o2tier hazard F.y,�;• ,.�;�a
<br /> ..+:�
<br />';�;i; �s�ear.cc�t�:ai�--s.as required: • " _
<br />.�z•� ; .��T' —+:.
<br /> �� QG�F�l,*.�ir.�t�ue under the Note: -
<br /> �r'`'f FOUrth,to amorbzation of the pdnclpal ot the Note;and """ '���-
<br /> s�s
<br /> Fifti1,to late charges due under Me Noie. . F��`���
<br /> �,;:
<br /> 4. F1i6. Fiood and Qther Hazard 1►tsu�ance• Borrower shall insure aU imptoveme�ts on the Property. whether �<.F�'`��.::�,__
<br /> now fn existence or subsequentfy erected. against any hazards, casualqes. and conUngencies. Inciuding ftre. far r�hich Lendet �,��� �- __
<br /> requires lnsurance. This insurance shall be malntained in the amounts and for the pedads that Lender requires. 8ortower shall
<br /> atso insure all Improvements on the Rroperty. v�hether now tn exlstenee or subsequenlly erected. against loss by tloods to the - ��—,^,__
<br /> e�Rent requlred by the Secretary. All insurance ahail be carrfed with companies appruved by Lender. The inaurance poGctes and
<br /> ,.,�.:—�.
<br /> ' eny renawffis shall be hetd Dy Lendirr and shaU Inctude losa payabte ctausea in favor of.and in a torm accaptabte to. Lender. Y " �
<br /> ,.:1�. .;
<br /> In the e'+ent ot losa. Bortower ahall gtve LendPr Immed[ate noUce by mail. Lender may make proo! 01 loss H not made '� = -`
<br /> �' i prompUy by BoROwer. Ench tnsurance company cancemed Is hereby authorized end directed to make pay►nent lor such loss �' '� �
<br /> , i . _,
<br /> .�. . direetty to Lendar, tnstead ot to Bortower and to Lender jotntlyr. IaU or any part of the insurance proceeds may be applied by
<br /> Lender, at Its optlan, either (a) to tho redudlon of the indebtedness under the Note and this Security InsUusnenG Rrst to any :;� •',-
<br /> • � deQnquent amounts applled In the ordcr in Paregrapb 3,and then to prepayment ot pr(nctpal.or(b)to the reataraUon or repair of ',i :
<br /> the damaged P►operty. My applleaUon ol ths praceeds to the pdnapal sha0 not extend ar pastpone ihe duo date of the ;y��:.'
<br /> monthly payments which are referted to in Paragraph 2, or char,�c the emount ot such payments. Any excess insurance ;ra`, �
<br /> . � proceeds over an amount requlred to pay all outstanding irtdebtedR�s :r�'�e Note and thts 8ecurity InsWment shail bo paid � ✓ :t�;•
<br /> .:..� , �
<br /> t o t h e e n t i t y t e g a t l y anUUed thereto. _ ;>, . ..�''..
<br /> . In the everrt of foreGosure of this 3ecurfry Ins.niment or c�� ^-^-�r�r of tiUe to the Properly that extingulshes tho :; ' � � '
<br /> ' f indebtedness,ail dght,title and fr►te�est of Borrower in and to insurr•�ss��oticies in force sheil pass to the purcAaser.
<br /> ,�.,��:-
<br /> 1 5. Occupancy, Preservattor�, Malntenance a�� �atectton of tho Pro�eriy; Borrawe�'s Loan ��",�
<br /> � �` Appiieattan; L.68sehOid9. Borrower shatl occupy,estabUsh, and use the Property as 8ortower's pdncipat residence within _ :��;�'.c„<<-�
<br /> , � s(xiy days after the exeeutlon of this Security InsUument(or withtn sixly days of a later sele or transter o!the PrapeRy�and sha11 ,��•_-
<br /> � conUnue to occupy the PropeRy as 8ortowers pdncipal residence for at least one year after the date of occupancy. unless ���? J.��,;����`
<br /> { Lender dete+mines that requ(remeni wili cause undue herdship for Borrovrer, or untess extenuaUng dreumsffirtces exist which are , <',��sj T�-'-'�,
<br /> ..j.t��;..-..., ,
<br /> �"� beyond Borrower's control. Bortower shaU nottty Lender of any extenua8ng arcumsiances. Bortower shafl not commJt waste or ______,_'��_,_�•_�'_=-:'_
<br /> : x.H FI�'�t. V- �'e^nl:.
<br /> � destroy, damage or s�slanUaliy change the Property or altow the Property to ��rioreite, reasonabie weaz Fu►d tear excepted. . , . • -
<br /> � lendar may inspect the�roperty H the Property is vacant or ebandoned or tFte taan is In defauft. Lender map take reasonable jl`��' "°''"°`�'�`'°'��'
<br /> �• i acUon to protect�.a yreserve such vaaant or���aned Praperty.8orrower shail also be in defauft N Bortower,dudng the loan '�'"_��__ •�'`+���="-'-
<br /> ; applta�an process, gave materfaUy false or inaccurate IntormaUon or statements to Lender(or tailed to provide Lender with zrj `�•�'��—"�'
<br /> '� � matedz7 information)in connecUon with the taan evidenced by the Note. induding, but not IimBed to,representatfons concc:�alr.3 ;a[,,d�tt.
<br /> �'' ; Bortower's occupartc.y o1 the Property as a pdncipal residence. I} tfiis Secudry Instrument is on a leasehotd. Borrower shall ,.:�.,.,,,.;�..•:.��;•,'�"`�,.'�c��
<br /> � camply wfth the prcvcsiams of the lease. I} Bortower acquires tee tiUe to the Property. the leasehoid and tee title shall not be -^.�.�R��"�'�'"`
<br /> :a�s-.,,_ �_'r.�
<br /> `� merged unless Lender ag►ees to the merger in wrfting.
<br /> ��x
<br /> . i . —
<br />:%�'•:t`� , 6. Condomnatloa.The proceeds o!any award or Galm tor damages, direct or conoequontlol, tn connectlon w(th any �.,.. - '��•�•y
<br /> ;,' � ..,,��,.,�..,�,�,—z�..
<br /> condemnation or other tektng of eny part of the Properry, or tor convoyance in place of candamnnUon,are hareby ussigned and �'
<br />.: shal� be paid to Lendor to the extent of the fuli emount ot the indebtednaaa thnt remaina un aid undor the Ncte and this �"�A � _..�.���.:�-� _
<br /> P t���^ --
<br /> '.�. Secudry instrument. Lender sha0 appty such proceeda to the reduction of the Indebtadness under the Nate ana this Securriy i"" --- _
<br /> .t�?r'�'xl9 L�.
<br /> instrument,first to any delinquent amounts applied (n the order provided In Paragraph 3.end then to prepayment o1 pdndpal. • .;,:,�;,,�;,;:a�.„,-�;�'
<br /> My sppltcaUon ot the proceeds to ihe pdncipal shall not e�ctend or postpone the due date of the monthty payments, whlch are ; ...�,.,..,ro.,,., ,
<br /> reterted to in Paragraph 2, or change tho amount o} such payments. My excess roceeds over an amount re uired to a all .�����'-��'_�'����'
<br /> P 4 P Y : .q+��fir,�x:�:
<br /> outstanding indebtedness under the Note and this Seeudty InsUument shail be psid to the e�tiry legalty entiUed thereto. ..;s-��:'-�:TM��
<br />. � —�.-c=,;Kw+�,.. . —.
<br /> 7. Charges to Borroi+ver and Protectton of Lender's Rights in the Property. Bonov�er shatl pay eil • . —
<br /> govemmental or municipal charges, fines and impositlons Ihat are nat inciuded in Paragfaph 2. Borrower shall pay those �„ � . • +.
<br /> obUgeUons on tlme directly to the entiry which is owed the payment II faiiure to pey wouid adversely affect Lender's interest in . ' "n�'. :�.��
<br /> � the Property.upon LendQr's request Bonower shetl prumptly tumish to Lender rceceipts ovtdencing these payments. . ` - 4
<br /> If 8ortov�er fa�fs!o make these payments or the payments required by Fentgraph 2, or fails to perform any other covenants � ' .
<br /> and agreements ecc�ned in this Security Insirument. or there is a tegal proceeJing•that may significanlly aHect Lender's dghts in ° • � ,
<br /> the Property(such as a proceeding in baniwptcy, tor wndemnaUon or to entorce 1ar�s or reguiations).then Lender may do ar.d ' - �_
<br /> ���'.: pay whatever is r.ecessary to protect the value of the Property and Lenders rights in the Property, including payment of tax�. � • ' ,
<br /> hazard insuranee�d�ther items mentioned in Paragraph 2. �. ' '
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