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<br /> . !f d�e xmaunts hetd by Lender fc�r E�crow Items excced the umaunts pem�itted to he lield by RESPA, [,ender ' .;�r���•__�—
<br /> shxll account ta Borrawer tar die excess funds as required by RESf�A. If the aniounts of funds h�ld by L.eiuler at any '"`=-="��---
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<br /> time are not sufficient to pay the Escrow I tems when due,l,�nder may notify the Banower xnd require Banc�wer to •���'<>:=--
<br /> make up the shortage as permItted by RESPA. � -----
<br /> The Bserow Funcis are pledgeci as additional saurity far uU sums secured by thix Security lastrmnent. If , +rz;•�- --�`- -
<br /> Harrawer tenders to Lender the full paymeiu of�II such sums.Bonower's account sh�ll be ci�edited wlth the bulance „ � _
<br /> reruuining for all inswllment items(a),@).and(c) and anymortgage insurance premium installment that Lender ha5 �•f�-
<br /> not become obligated to pay ta the Secretary, and �.ender shull prompdy refund suiy excesa funds to Borrower. �
<br /> Immediately prior to a foreclosure sale of t4e Properry or its acquisitiop by Lender, Borrower's account sh�ll be 5:_..—___
<br /> creditect with any balunce reniaining for all instaliments for items(a),(b),and(c). `�%�'
<br /> 3, A licat�on of Pa ments.All rnen�s under ara ra hs 1 and 2 shall be a lied b L.ender us follows: ���
<br /> PP Y (�Y P' B P PP Y
<br /> , �r,�,to die mongage Insurance premiwn ro be paid by Leader ro the Secretary or to the n�onWly charge by the �
<br /> Secretary instead of the monthly mortsage insurance pnmium; .;���,
<br /> • ecnn , to uny taxes,special assessnients. leasehold payments or graund rents,und fire, fload ttnd other huzard `
<br /> , ins�urance premiun�s,as requirecl;
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<br /> . � �ir ,to inrerest due under d�e Note; �
<br /> �: Fourth,to amortizxdon of the princip:sl of the Note; and , -.
<br /> �,to lat�charges due under the Nou. �'�'
<br /> � 4. Flre,Flood and Other Hazard Insurance. Borr�wer shall insure al l improvements on the Property,whether •��"
<br /> now in existence or subsequently erected,ageinst any I�azards. cnsuxities,aad cottdngencies,including fire,for which . •'��y�'' ��,
<br /> • I.ender requires intiurance. This iasurance shall be�uaidainecl in the amounts and for the peiiods that Lender �4���:`, 'j'"�'�
<br />_ _ rec3uires. Bonower sh�li also insure all in�provements on the Property,whether now In existence or subsequently t�;=
<br /> erected, against loss by flaods to the extent reyuired by tUe Secretary. All tnsun►nce shall be exrried with companies ':1?�.
<br /> appraved by Lender.l'he ins�urunc:e policiex and any renewals suull be held by Ixnder und shxll include loss payable , ~ � ,
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<br /> clauses in favor of,and in a farm accepwble iu. lxnder, ",i�
<br /> • In the event af loss.Bonower sh�ll give Lxncler inui�eJlate nodce by malL Lender tt�ay ivalce proof af loss if nat ;�w;.
<br /> � aiade promptly by Bonower. EacU inaursuice compxny cenrccrned is tiereby authorized xnd directed ta make payment '�.
<br /> far such loss directly ta Lxnder, iiti�tead af to Bonower and ta Lxnder joindy. All or any part of dir iiuumnce ��.
<br /> . proceeJ.S n►ay be applted by Lxnder, at its option,eitl�er (a)to tlie reduction of the indebteduess under d�e Note and
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<br /> ! thts Securiry Instruntent, first w any drlinyuent wnc�nncy a�lieJ in the cmler In parageaph 3,xnd tlien to prepxyrr�Cnt
<br /> � af principul, or (b) ta the restor�don ur rrpair of dk d�unageJ Property. Any application of die pnx:eeds to the _____
<br /> principal stiull nat extend or postpone die duc date uf diC monthly payntents which;ue referrecl ro in paragraph 2,or
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