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<br /> I Lender may,at any thne. collect and la�d amounta for Escrow Itema � an aggregate amount not to exce9d the maxlmum '��a_
<br /> i .c:�',� ',
<br /> I amount that may be raqulred for Borrower'nse 24 CFR Part 3500 Bashtheye nliays be ameendedntromolfine rtos tlme fRESPA,?excoqi
<br /> . �26p1 e1 s,e�C, and �mplementing regulat o �
<br /> 'thel the cushlon or reserve permftted by RESPA for unanticipated dfsbursements or dfsburcemenfQ�bumre the Borrowers �
<br /> paymenis are avallabb In the account may not be based on amounts Aue for the mortpa9e Insu►unce p I ,^�
<br /> • i�°
<br /> RESPA, Lender shall aCCOUnt
<br /> �}�he amounts held by Lender for Escrow Items exceed the amounts permNted ta be held by �_
<br /> RE9PA. If the amounts o��unds held by Lender at any time ue not eumill ed by'
<br /> � to Borrower lor the excess funds as requued by . *.: "
<br /> �,
<br /> pay the Escrow Items when due,l.entler meY notNy the Borrower and requko Borrower to muke up the shortnge cts p _
<br /> PESPA.
<br /> � ited with the balance remalnmg far a�� �nstallment�
<br /> , . Escrow Funds ere piedged as additfonal security tor all sums secc e�d by ihis SeCUnty �nst�ument.�I Borrovro�tenders�
<br /> .. .,,,,�. Th9 t0 the �
<br /> , r to Lender the full payment of all suCh sums, Borrower's account sha.l be ied to pay _ _
<br /> �ems (a), (b), and (c) and an��mort efu�M8n�8excessr funids to Ro�ower'Imm6dlately pr ornto a forec osure ele of the Property�
<br /> �� Sec�etary.end Lender shal� p P Y �
<br /> . , ar its acquisition by Lender, Borrowers account shall be crodited with any balance remaining for ell InstallmeMS for Items(a),1b1�
<br /> and (c). � ir.
<br /> ` 3. Aqplicetion of Payments•�h lum 08 be pflld by Lender to the Secret ry oe to phe monthly che Ae f by the Secretary ��� ,t�'
<br /> • Fi�st,to the mortga9e insurance Fxeoi
<br /> nstead ot�he monthly mortgage Insurante premlum;
<br /> • � Second, to any texes, special assessments, leasehold payments or ground rents, and fire, flood and other hazard
<br /> � �surance premlums,as requfrod; I _
<br /> � Thfl'd, to �terest due under tha Note: t "
<br /> � Fourth,to amortizatlon of the principal of the Note; and �. :"��
<br /> • Fifth,to late charges due under the Note. _-
<br /> � � Be, tor wh�h Lender �����
<br /> 4. Flre, Flood end Other Hezord Insurance. Borrower shall Insure all improvements on ihe Property, wliet er _
<br /> now In exlstence or subsequentiy erected, agalnst any hezards, casuailles, and contingencles, Including
<br /> requlres Insurance. This InsuranCe s P abe�e�hether owh InBexistence or subsequenrtly erehcted, against bss b Bfloods to the _
<br /> �•� a tso i n s u r e a l l i m p r o v e m e n t s o n t h e P r o v e d b y L e n d e r.The bsurance polbles and
<br /> � extent requlred by the Secretary. All Insurance shaH be carcied with compa n l e a a p P
<br /> any renewals shall be held by Lender and shall Inck,de loss payabb ciauses�8V Lendernmay make proof otbbss�p�ode�ade
<br /> �� In the event of loss, Borcower shell gNe Lender Immediate not�e by Iied by
<br /> _ � �,romotly bv Borrower. Each Insurance eompany concerned`I5t he eby�r8pny«oert ofn he nsueance proceeds m8Y be apph �oss
<br /> � directly to Lender, Instead ot to Borrowe� ana to �tli�unt �os..�. ...
<br /> y Lender, at its optbn. e1`ea��n8theoorde��� PBfagrapht3, andebhen to prepayment of pr8incpaito�r(b)torthe estoration or r pair of
<br /> : cleNnquent amounts app
<br /> i�� the damaged Property. Any app��catlm of the p�oceads to t he p n n c l p a l s h a l t n o t e x t e n d or PmentS eMy excesseinsu ence
<br /> � monthly payments whbh ere referced to In Paregraph 2, or change the amount ot such PaY y�strument shall be paid
<br /> ,' proceeds over an amount required to paY all outstanding Indebtedness under the Note and this Securfty
<br /> to the entity legally entitled thereto. thet extingulshes the
<br /> �- In the event of foreclosure of thls Security Instrument or other transfer of tftle to the Property ���`
<br /> �� indebtedness,all right,title and Interesl of Borrower In and to insurance pol�les In force shaA pass to the BOiOWE�'8 LOdil
<br /> �; b. Occupency, Preservation, Mafntenance and Protection of the Property;
<br /> � Applicatlon; Leesehatds. 8orrower shall occupy, establlsh, and use the Property
<br /> as Bonower's prncipnl resldence withfn
<br /> sbRy days aRer the executlon ort thas orrower'Strp���P�o�Sidence�ford8t least nteryea�after8theedai t�e c upanCyn unless
<br /> ti continue to occupy tho Prope y
<br /> � Lender determines that requirement w�cause undue hardshfp for Borcower,or unless eMenuating ckcumstances exist whb are �
<br /> i
<br /> �' � beyond BoROwer's control. Borrower shall notify Lender of any extenuating circumstances.Borrower shall not commit was e or
<br /> � �. � destroy, damage or substantl811y ahen9 Pfo ertrOps vacan to�r abando ede or the�loenbls t n default�LendergmaY�teke rreasonable
<br /> Len der may I n s p a c t t h e P ro p e rt y i f I h e p Y —
<br /> ; 4 ection to protect end P e�terlall hfe4se orenaccu�rate enformatlonyoBStstement ato Lender o r�falled t p�o�e'Lender whthlany �
<br /> � � application process,ga Y fnciudln but not Ilmfted to, reprasentatlons conceming ��
<br /> � material iniormat�un)in conneCt�on wilh the �oan evfdenCed by the NOte, 9� �_
<br /> Borrower's occupancy ot the PropeM as a pr'u�c�pal residence. If lhis SeCUrity Instrument Is on a leasehold, Bortower shaN ---
<br /> • comply wdh the provfsions of the Iease. If Borruwer 8cquires tee t�l�e to lhe PropeRy, the Ieasehoid end fee title shall not be i;
<br /> merged un1ess Lender agrees to the merger in writfng. :.Y^S:.
<br /> :•3 .�<<.
<br /> 6. Condemnation. The proceeds of any award or cla'vn �or damages, dkect or consequent�e�. �n conneCtfon with any �
<br /> , � asslgned and (.;,'•
<br /> condemnfltion or other tak�ng of any part of the Property, or for Convey8nce In pluce of condemnation,are hereby _.'A�`+.' ,
<br /> shall be paid to Lender to the exl8nt of the full amount he teductlon`ofnthe fndebtedess underdihe Not h8nd�thls S Curty , .
<br />: i Security Instrument. Lender shall app�Y suCh proceeds to t ,
<br /> q ned fn the order provided �n Ferag�aph 3, and then to prepayment of princlpal.
<br /> - { Instrument. first to eny delin uent aoiounts apP ments,whlGh are
<br /> _ i Any application of the proceeds to�he princ�pfll sh811 not extflnme�ls. AnyoexCess proceeds o erean oa otu ta equ'ved to paY a��
<br /> referred to in Peragraph 2. or Ct►ang0 the 8mount Ot suCh p y
<br /> � outstand�ng �ndebtedness under the Note and this Security Inst�ument shall be pafd ro the entity �e9allY 8nC6 rcowe�e shall pay all
<br /> � 7. Charges to Borrower and Protection of Lender s Rights in the Property.
<br /> _- i . _.._�:....� ..tie...o� fines and �positions that are not Incwded in Parag�aph 2-L8oN�.N1efoodarlspnt restsn
<br /> - t govemmeniai �� „���..,..,,... _.._.o_.. —
<br /> i obligations on time directly to the entity which is owed the payme�t• �t iflflure to pey wouid a�•a�a��,�••--• -- - -
<br /> � the Property,upon Lender s requesl Borrower shall promptly furnish to Lend�r r8ceipls evidenck�g ihese payments.
<br /> If Borrower fa��s to maMe these paYments or the paYments requ�red b�� P6ra9raph 2,or fails to perform any other covenants
<br /> do and
<br /> ' and agreemenls contamed �n th�s Security InSl�ument, or there is a legal prOCeeding that may Significa���Y BHOCt Londer'S riflhts��
<br /> tho Property Isuch as a p�oceeding in bankruptcy, tor condemnation or lo enforco iaws or regulat�oy S�CIudmLenaeme aYot taxes,
<br /> - pay whetever �s necessnry to prolect the value ol the Property and Lender's ��ghls �� Ihe Propert 9 P Y
<br /> hazard +nswance and other �tems mentioned ir Puragraph 2.
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