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<br /> . tfie amounts rmitted to be held b itFSPA, I.ender • �� � ��'•�'
<br /> _ If tlt�amovnts held by I.ender for Fscrow Items exceed pe Y � _
<br /> shall accaunt to Borrower for the excess funds as required by RESPA. If the amounts o.f funds held hy Lender az any � ,,r �_ .�
<br /> time is not svfScie�to pay the Escrow Items when dne, Leader may notify the Borrower and reqnice Borrower co � -
<br /> _�
<br />. make up the shortage as permitted by RFSPA. �:, .! - °°'�--r'
<br /> The Fscrow Funds ace pledged as addidonal security for all sums secured by this Security Instrament. If �-'` -- o;-�•:��`;,�,�-`
<br /> Bonower tenders to Lender the fiill paymerat of all such sums,Borrower's ascount shall be crediied with the balance .- ��.�_'Z:,:�"--
<br /> Pemaiuing for all incraliment items(s)�N), and(c)and any mortgage insurance premium inst ja 1m��+t Wat Lender has • `��'.t� ,.
<br /> not b�ome obligated to pay to s� Secretary, and I.ender shall promptly refimd any excess funds to Borrower.
<br /> Im���ly prior to a forec2os�e �!e of the Properry or its acquisition by Lender, Borrov�er's account shall be � '��:�
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<br /> : �.. cre.dit�d with any balance,+�,,,a;n*�a:or alI inst�menr�for items(a).N)>and(�)• -
<br /> . -
<br /> un d e r ara h s 1 an d 2 s h a U b e k e d b L e n d e r a s f o ll o w s- �'"�' `
<br /> : 3.AppHcalIoa of Fayme�.All Payments P gnP ePP Y • .; �;�:'�`— ',:- .�.' -
<br /> rl'"�,sL,Eo the mortgage�n��premium to be paid by Lender to the Secretary or to the monthly charge by the _ ._.�..�_.�__
<br /> :' �'.�:;.�ar.___c—rt_=—_
<br /> ��stead of the monthly�artgage inrn*�*+ce premium; ...`: ,
<br /> �r,i� to any taxes,special assessments,Ieasehold paym�nts or gronnd rents,aud fue,Aood and other hazard ':_.�`.���';-._::
<br /> . ins�a-aa�premi�s,o+recl+iired; � • --
<br /> �'hi d.w in*.��3�e nnder the Note: �;�; . -----
<br /> -... ; .—r,:.
<br /> ..'-r �4�,�asc>.�on of the principal o�t�ze Note;and `,' ;�. :°_
<br /> ��;• 1�2h.w late charges due�.�r the Note. F+, � �� , . ,
<br /> ` �.FSse,Plood nnd Ot�er��i Insmance.Barrower shall insvre all improve�e�ts on the Property,whether _ �; .' ;.�
<br /> �+.�� now in existence or subsequeatly e�cxed,againsc aay hazards,casoalaes,and contingencies.inetuding 8re,for w}uch - .; ` < •�'° v�"�`.
<br /> Lender requirzs in�.*�s:. This insurauce shall be maiatained in the ammvnts and for the peri�ds that Leader -, '"'�'' r;`•�1 ,,r� `
<br />` tf�, r�u�c�. Borrnwer shaU also ins�:.�¢all improv�e�s on the Prnperry, wheiher now ia exfsteacc or snbs�uentlY ''�� �:�,�f;;tj '1;;s:
<br /> �;; ea�:s1.�,gain.st loss by tloods to t�e extent requim,d by the Ssca�etaiY.All insurance shall be carcled v�th companies f�r,� "r;
<br /> �•�"•; appmved by Lender.The ins�rauce policies and any renewals shall be held hy Lender and shall inciude toss payable �,ai.�. _ .``-�
<br /> :; clauses in favor of,aud in a foffi aeeeptable w,d�ader.
<br /> �.';-.1"±t.
<br /> � ia the event of loss,Borrower shall give L�uder immediate notice by mail.I.ender may maks proog of loss if not •
<br /> made prompfly by Barrower.Each insurance comipa�+cuncemed is hereby suthorized and directe�to malce payment :•. ;��.�_...
<br /> � for such loss di�ctly to Lender, instead of to Borrower and to I.ender jointly. All or any part of the insurance � �' �� _-:
<br />� � proceeds may be spplied by E.ender,at its option.either(a)to the reduction of the indebtedness under the Note and - •:i';;;�-�
<br /> . thia Security Iasavment,fust to any deliacjuent amauais applled in the order in paragraph 3,and then to pnpaymmt . ,�;;� "`
<br /> � of prIncipal, or(b)to the restordtion or repair of the damaged Property. Any �pplication of the proceeds to the "
<br /> . • prlacipal shall not extead or postpone the due date of the monthiy payments which are nfened to ln paragraph 2.or �� `�=e;�^�"
<br /> � ' ,�. change the amou�t o�sucd�payments.Any excess insuwace pmceeds over aa amnunt requlred to pt�y all outstanding ��',•--
<br /> '� � iadebtedasss uader the Note and this Security lnstr�ment sha11 be paid to the eaaty legally entided thereto. ,�"` ���s:}a;�:
<br /> In the event of fonclosure of[his SecurIry Instrument or other uansfer of title to the Property that extinguishes :__
<br /> � � the indebtedness. all right, title and interest of Boao�ver in aad w lnsurance policies in force ahall pass to the �� � _-
<br /> �`° .
<br /> .�;'{. Purchaser• s -
<br /> 5.Occap�ucy,Pr�sservatton, Mnlnteaance and Prota�lon of the Ptoperty:Borro�va's Iaan Applleatton; ..':.•
<br /> Pr
<br /> Lw,geholds. Borrower shall ocxupy,establIsh,aad use the Praperry as Borrower's prtncipal:esIdeuce within skty •",,
<br /> •� , �- •.� _;:�:�--.--`=-
<br /> . daya after the execudon of tbis SecurIry Inst�ument(or wlshin sixty days of a later sale or uansfer of the Prnperty) � __ .
<br /> and sball contimie to occupgr the Property as Borrower's princIpal residence for st teast unc year after the date of —s-°--°_
<br /> �.•:— :.,; .
<br /> . occupaacy,unless Lender determines that requirement will cause undue hacdship for Borrower,or unless extenuating ��--°�a
<br /> cIrcumstances exist which are beyond Bonower's cQntrol. Borrower shall noiify Lender of any exteallA� R �
<br /> • circumstances.Eorrower shall noi commit aaste or destrmy,damage or substamtially change the Progtrry os allow the ��.�^` • ' •-_.
<br /> Progerty to deterlorate.reasonable wear aad tear excepted.Lender may inspect the Ptoperty if the Property is vacant =-��
<br /> • or abandoned or thc toan is ia default. Lender may take reasonable ac.tion w protect and pseserve�vacant or _ '� `C�"—
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