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<br /> hcld b R&SPA,L.cnder sh�ll I .;`�o
<br /> If the amounts held by I..cndcr fat Escrow Items excced the amounts pecm�ttcd co bc Y ___
<br /> arc no��sufiic e1 nt to payr�IteCEscrow Itcros hen�d e�LcndcEmay notify th Borrowcrfand requ'uc Borrowcr w makc up •-
<br /> thc shonagc as permiucd by RESPA. ___��___
<br /> Tt�e Escrow Funds arc pledgcd as additional scc�uity for all sums secured by ihis Security lnstrumenG If Borrowcr
<br /> tenders to Lendc:r the full payment of all such sums.Borrower's account shall be credited with the balance remaining for ..
<br /> all ins�eUment items (a), (b), and(cy and any mortgage insurance premium instellment that I.ender has not become
<br /> obGgated to pay to the Secretary,od i�n��hai1 n by L.ender,�Bo ower' account hall be crcedited with anY balance
<br /> a forecbsure sale of the PropercY
<br /> remaining 4'or all installments far items(a).(b),and(c).
<br /> 3,p.pppcation of Payments.All payments w�der paragraphs 1 and 2 shaU bc applicd by I.ender as follows:
<br /> gj�,to the mortgage insurance premium to be paid by Lender t�the Secretary or to the monthly charge by the
<br /> Secretary instead of the monthly mortgage insurance premium;
<br /> ��� ��y �axes,spocial assessments,leaset►old payments or ground rents,and fuc, flood und other hazard _
<br /> insurance premiums,as rcquired;
<br /> � y�,w interest due under the Note:
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<br /> �.�,to amortizadon of the principai of the Notc;and
<br /> gi(�,co late charges due under the Note. —
<br /> 4.F[re, Flood aad Other Hazard Iasurance.Bonower shaU insure all improvements on thc Property, whethcr
<br /> now in existence or subsequendy ereceed,aBainst any ha7ards,casualdes.and contingencies,including f"uc,for which _
<br /> I.cnd�r����ires insurance.'Ihis insurance shall be maintained in ihe amounts and for the periods that Lender requires.
<br /> Borrower shall also insure all improvements on the Propesty.whether now in Gai�te�ca�r subscquensly er�cted.agA�"��
<br /> loss by floods to the extent required by the Secretary.A11 insurancc shall bo carried with companies approved by Lender. �o- _
<br /> 'me insurance policies and any reaewals shall be held by Lender and sbsill include loss payable clauses in favor of,and � �`r��
<br /> i n a f a m a c c e P t able to,Lender. _,�'
<br /> ln the event of loss,Borrower shall give Lendcr immediate nodce by mail.Len dcr may m a ke p r a o f o f l o s s i f n o t ;�.;y���,;
<br /> ' made prompdy by Borrower.Each insurance company concerned is hereby authorized and directed to melce payment for � ,,�,
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<br /> such loss direcdy to L.ender,instead uf to Bonower and w L.ender joindy.All or eny parc of the insurance proceeds may
<br /> be applied by Lcnder,at its opdon,cither (a)w the rcduction of the indebt,edness undcr ihe Note and this Sccuriry
<br /> Instrument,first to any deGnqucnt amounts applicd in the order in paragraph 3,and ihen�e princ�al shaU ot�c�cend -^n��
<br /> (b) to ihe mswradon or repair of the demagcd PropertY•MY aPPU�don of the proceeds P '�,��-
<br /> or pastpone the due date of the monihly payments which are refeaed to in paragraph 2,or change the amount of such ,: �
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<br /> ' payments.MY excess insurance praceeds over an amount mquired to pay all outstanding indebtedness under the Note ��z__
<br /> and this Sccuriry Instrument shall be paid to the entiry lcgally cntided ihereto.
<br /> In thc event of forerlosurc of this Security Instrumcnt or othcr transfcr of titic to thc Property that extinguishes thc -�-�.
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<br /> " indeb�edness,all right,title and interest of Borrower in and to insurance policics in force shall pass to the purchaser. 1�,;.__.
<br /> S. Occupancy,Preservation,Maintenance and Protection of the i'�roperty; ►3arrower's Loua Applicxtion; , k•r�:-
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<br /> � Les�seholds. Borrower shall occupy,establish,and use die Property as BorrowePs principal residence within sixry days „`,���-:
<br /> aftcr�he ezecution of this Sccurity Instrument(or within sixty days of a lntcr salc or uattsfer of the PropertY)and shall --_____ -____:__
<br /> condnue to accupy the Property as Bonower's principal residence for at leagt one year after the daee of occupancy, ,`�'��:8__
<br /> unless Lendcr deteimines that requirement will cause undue hardship for Borrower,ur unless extenuating circumstances � ,�r�„��^
<br /> ex:st which are bcyond Bonower's c�ntrol. Borrowcr shall notify Lcnder of any extenuating circumstanccs. Borrower . �'
<br /> shall not commit wastc or dcslroy,d3maBc or substantially change ihc Properry or allow thc PropertY to dctcrioratc. �.: �
<br /> reasonable wear nnd tcar exceptecl.Lender may inspect the Property if the Property is vacant or abandoned or the loan is r •�
<br /> in dcfaulG Lendcr may takc rcasonAble action to protcct and preserve such vacant or abandoned Property. ,•
<br /> I •4R(NE)ieeo+�.o� Papo7otB �ni!iai6.
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