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<br /> � If thc nmounts hcid by [Andcr for Fscrow Iccros cxcccd�hc amounts permicted ta bc hcld by RESPA, l.endcr ':�
<br /> , j shall xcount to Borrowcr for thc exccss funds us rcquired hy RESPA. If thc amnunts of funds hcld by I.endcr ut:u�y
<br /> :.
<br /> � timc is noc sufficicnt [o pay thc Escrow Itcros �vhcn duc, l.e;ndcr may notify thc Borrowcr and rcyuirc Borrowcr to .
<br /> } make up the shortagc as permittcd by RESPA.
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<br /> �%� The Escrow Fuuda <<re plcdged .G� additional security fnr all sums secured '•�y thi� Security Instrument. If : .
<br /> � �� Dorrawer tenders to I.�:nder the full payment of'all such sums,Barrower's account shaU be credi�cd with the balance !
<br /> - remninin� for all installment items (a), ib).and(c)and nny mortgagc insur.lnce premium installmenc that la:ndcr ht�.s _�-
<br /> not becomt obligated to pay to the Sccretary. and i.ender shall promptly refund any cxcess funds io Rurrower. �"'
<br /> r • Immcdiately prior to a foreclosure sale of the Pmpetty or its .�cquisition by LcnJer. Bc�rn•wcr's ai:cuuni tih�Ql ho _
<br /> �� credited with any balancc remaining for aU inscallments for itcros (a), (b),�uid(c). `
<br /> 3.Appltcatton of Payments. All payments under parugraphs l und 2 shall bc appliecl by Lcnder as follows:
<br /> . ., �, to the mor[gage insurunce premium to be paid by Lender to�he Sccrctury ur t�th� �uonthly charge by the
<br /> Secre�ary �nstead of thc monchly mortgage insurance premium;
<br /> � S•co d, to any taxes, specinl assessments, leasehold payments or ground rents,and fire, fload and other ha2.2:u'd
<br /> insurance premiums,as requircd:
<br /> T T '�,to interest due under the Note;
<br /> ou ,to amanization of thc principal oF thc Note;and
<br /> �� �,to late char�es due undcr the Nute. _
<br /> 4.Ftrc, Fload und Other Hazurd Insurnnce. Bonower shall insure all improvements on thc Property, whecher
<br /> � now in existence or subsequently erected,against ac►y harards,casualties, and contingencies,including fire,far which
<br /> Le�ndcr requires insurunce. This insurancc shull bc maintained in the amounts and for tlte periods that Lendcr
<br /> ' requires. Borrower shall also insurc all improvements on the Property, whethcr now in existence or subsequently
<br /> � erected, against loss by floods to che extent required by the Secretary. All insurance shall he carried with companies
<br /> � approved by Lender. The insurance policies and any renewals shall be held by Lender and shall include lass payable
<br /> clnuses in favor oY,and in a form acceptable to, Lender.
<br /> In the event af loss,Borrower shall give Lcnder immediate notice by matl. Lender may make proof of loss if nat
<br /> ' made promptly by Borrower. Each insurance company coneemed is hereby authprized and directed to m:ilce paymene
<br /> for such loss directly to l.e:nder, instead of to Borrower and to Lender jointly. All or a�ry part of thc insurance
<br /> -__ procecds may bc applicd by I.endcr, at its option, eithcr(a)ro the rcduction of the indebtedness under the Note and
<br /> . this Securiry Instrumcnt, tirst to any delinquent amounts applicd in thc order in paragrap�s, and tuen in p�CNuyit�ni
<br />_ of principal, or (b) to the restoration or repair of the damaged Property. Any application of the proceeds ta the
<br /> � principal shali not�xtcnd or postponc thc duc datc of thc monthly payments which arc rcfcrrcd to in paragraph 2,or
<br />�.; change the amount of such payments. Any excess insuranee proceeds over an amoun[ required to puy aU outstanding
<br /> indcbtedness undcr the Note pnd this Securiry Instntment shall be paid to thc entiry legally entiticd the�eto.
<br /> ' In the event of foreclosurc of this Security [nstrument or other transfcr of title to the Property that extinguishes
<br /> • • the indebtedness, all right, title and intcrest of Borrowcr in and to insurancc policics in force sball pa.�s to the
<br /> � ' purchaser.
<br />; � 5. Occupuncy, Yrescrvation, Matntenancc and Protection of the Property; Borrower's Lc�an Application;
<br /> . Les�seholds. Borrower shall accupy, establish, and use the Praperty as Bot�rower's principal residcnce within sixty
<br /> r,�,�,,,;�;."��� duys after the cxecution of this Security Instrun:ent (or within sixty days of�later sale or transfer of the Properry)
<br />=�;�r•� � •�.� �nd shall continuc co occupy the Propeny as Bonower's principul residence for at lenst one year after the date of
<br /> '• � "' �' occupincy,unless Lender detcrmines that requirement witl causc unduc hardship for Bonowcr,or unlcss extenuating
<br /> -' � '' circumstances exist which are beyond Borrower's control. Borrower shall notify Lender of any extenuating
<br /> circumstances. Borrowcr shall not commit�vaste or destroy,damage or substantially change the Property or allow thc
<br />�`" Propeny to dcterioratc, rezsonabl�wear nnd tear excepted. I.cnder may inspec[the Propcny if thc Propeny is vlc�nt
<br /> . ' or abandoned or the loan is in defuult. Le:nder may take reasonable action to protect nnd preserve such vacant or
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