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<br /> if the amouau heid by Lender for Esccow Itesns exceed the amouats permitted to be held by R�SPA. Ixnder "�� . . � ` =
<br /> s6a11 accaunt to Borrower for the excess fuads as requi�by RESPA. If the amounts of fuads held by Leader at any � �
<br /> time is nat sufficient to pay the Esc�w Items whea dua, Leada taay norify the Borrower and require 8orrower to - -- - --- . � -
<br /> make up the shortage as permitted by RESPA. , - . �
<br /> The Escrow Funds aze pledged ag additional security for all sums secvrM by this Security Insuument. If -
<br /> � Bortower tenders to I.ender the full payment of all such sums.Borrower's account shall be credited with the balance .. _. __ �
<br /> � ra+„aining fot all'tnsiAflmer�t items(a?,N).2IId(C)alld ffily IIIOT[g3ge inSilidIIC6 QTClllillm inctallment thBL I.CAdCI L2S , _,
<br /> not become obligated to pay to the 5ecretary, and L.ender shall prompdy refand any excess funds to Bormwer. . .
<br /> tm*n ;Arely ptior w a foreclosure sale of the Property or its acqnisition by Lender. Borrower's account shall be , ,.}:�;���-�'
<br />. credited with any balaace*�*±a;�+:++g for all installments far items(a).(b),and(c)• ��.� • _y2ix.=-^:-
<br /> 3.Appltcatton oY Papmeats.A11 payments under paragraphs 1 and 2 shall be applie�by Lender as follows: Y.=•'�_.�•'•� :
<br />� �,to the mnrtgage ins�rance premium to be paid by Lender to the Secretary or to the montWy charge by the . y .'"�-'� .�� _
<br /> * • � . ., ',
<br /> Sec�tary instead of the monthly mortgage insurance premium; . , ,.,<_...'._.r :
<br />• SeooAd.to any taxes,sPecial assessments,leasehola paymeau or ground rents,and fue,flood and other ha�d , t__ � _�.
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<br /> f incnrance p��s,eS IequiiCd; � :�`�'��� !'`
<br /> � Third.w interest due uuder the Note; �' "`.:y-.:•-
<br /> Pourth•w amoitiration of the princfpal of the Note;and ����- ����_
<br /> .� tira _-.. , �-
<br /> ,�� r�fth,w late charges due under the Nou. ,: . '�i
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<br />. :� 4.FYre.Flood ar¢�I OtHer Ha�rd Insurance.Borrower shal�insure all impmvemenu on the Property,whethea :L ,.:_-•-_- :---_
<br /> . .; now in existenc�or s��.i-szqueatly er�d,against any hazaids.casualties,and carei-��+cies,including fire,for which ;;,:r;�,•,-�:,
<br /> � Lender requires insur�ace. This insurance sba11 be maintained in the atnonn�s and for the periods that Lender �.:�`�i:_��'•.•,. � �,�;� 'pa.
<br />: :.. r�i:. �, � .-, <-_,::
<br /> requires. T�crrawer sball a]so insnre all impmvements on the Properry,whether now in existence or subsequently !:.�:•;�„ . ;_ -E � - ,
<br /> • � .., .�-
<br />. � i erected,�ainsz toss by floods w the extent required by the Secietary.All insurance shaU be carried arIth companies �� i.-:,�.�;;,•(�.:
<br /> • approved by Len�.'I��insurance pollcies and anY renswals shall be held by Lender and shall inclnde loss payable ;-�- ,,:,�': e �
<br /> cl�ses in favor of,aad in a form acceptable to.L.ender. . ���
<br /> In the event of lass.Bortower shall give Lender immediate noSce by mai3.�cndes�.�*make proof of loss if not - �'-�. c,::.
<br /> . '�� made pm,�tly by Botrawer.Each;*+�,*ance company ooncemed is he�hy authozized ar3�..-ected to make payment ''�'. • '=`u�,- '�:,�
<br /> • for suc� 2oss direcdy to I.ender, e�:�d of to Borrower and to I.ender jointly. All or a:.�part of the insutnnce + �
<br /> '�i,` ro�eds be lied by Ixnder,at iu option,either(a)to the reduaron of the indebtedaess under the Note and
<br /> �"�' �-
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<br /> � this Security Insaum�t,fust to aay delinquent amounts applied in the order in paragtaph 3.and thea to ptePaY�� rti¢.:'.
<br /> -. � of princi�al, or (b) to the restoration or repair of the damaged Fmperry• Any apPlication of the proceeds to the _ � �t
<br /> princip��31 not extead or pcsstpone the dus date of the monthl ayments which are r�feired w in h 2,or -f'::;4_ ��: ` K�
<br /> � Y P P��P t ..:�
<br />� � change t��amount of such payments.Aay excess insuraace pracceds over an amount required w pay all outstanding ,.�` .�3�;r� .
<br /> � i indebted�ess under the Note and this Security Instrument shall be paid to the enttty legally sntitled thoreto. -►„. — .�;� -_,
<br /> . In the event of foreclosure of this Security Instrument or other uansfer�f ade to the Property that�siagaishes 4�. �� �°���-'•";;�;.�,
<br /> the iadebtedness, all right, tttle and interest of Borrower in and to insur�:.e golicies in force shalY �a:ss to the •_ •'-"�.j-�.'P�,:"'''"" t,,�,
<br /> ' putGhaser. �,.; ''�. .. !f, >},-,.;,:,
<br /> .�It 5.��Psms9.Praservatioa.t�"lainteaanee aad Protec��n of the Property;Bamx�r's Loan AppUcatloa; �,,`.^�,
<br /> �--•.. .__-�..__-
<br /> Le�hOII�#s. Bormwer sl�all occa�PY.establlsh. and use the Fx-�ty a4 Borrower's pria��nsidence wittua sixty _ _. �: . .`�� .
<br /> .,.�'� days after the execudon of t6ia Secutity Insuument(or within sixty days of a later sate or aansfer of tha Pmperty) ��,���•^��--
<br /> �'` a n d shaU contiaue to o c c u g y the Pro p e n y as Borrower's principal resldence for at least one yeaz after the date of 4 ��
<br /> 1�;=�-;..�'=_ ,�.,..-.-
<br /> � occupaury.ualess Lender deteim�nes that reguirement will cause undue hardship for Borrower,or ualess extemituing t W R�� s--
<br /> � ci�ces exist which aze beyond Borrower's control. Borrower aha11 notify Leader of any exttnuating �„�. �`�� "`'-�_
<br /> ,,�s'�'""���n:"_
<br /> � circums�^.�nces.Borrow,r shall not wmmit waste or destroy.dz�age or substantlaUy chan,��the Property or altow the -�..__�..,__,. •.-_: �_
<br /> � � Property to dcterior�:�,reasonable wear and tear eacepied.Lxuder may inspeet the Prop�y if the Property is vacant �., �r �`Y.��`�':�°
<br /> . �,., '
<br /> �. or abandoaed or the loan is in default. Lender m�y take reasonable aaioa c�proteci a�d preserve s�r�vacant or -;?���°�
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