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<br /> ``"'`'� If the aawuau held by Leader for Fscrow Items ea�ceed the amounts Pesmitted to be held by RFSPA, Lender :'�� .: "z..`;�-
<br /> . :�:.:,----_ t�.
<br /> _ - shall a000unt to Borrower for the excess funds as recluired b�r R�PA. tf the amounts of funds held by Len+der at any --
<br /> ti:ae are not sufficiertt to pay the Fscrow Items when due.Lender may notify the Borrower and r$quirc Bonower w
<br /> , malce up the shortage as permitted by RFSPA. ; � ; ; .
<br /> ,' . � �."� The Fscrow Fuads are pledged as additional seairity for atl snms secured by this Securiry lnstrumeat. If . � <- .. .
<br /> ...��'. . Bonower tenders to Lender the fiill payment of all such sums,Borrower's account shall be credited wi�n the balance . k '..
<br /> ..` - ,_ remaining for aU insta}Iment items fa).(b),2nd(c)�nd any mortg2$e insutaace premium*��ratlment that I.euder has :' -
<br />_ , not become obligated to pay to the 5ecretatS+. aud Lender shail promptiy refimd any excass funds to Bosower. . . ` �,':
<br /> L"' ���`���` Immediately pr�or to a forectosure sale of the Property or its acquisidon by Leuder, Boirower's a.ccount shall be . -� �
<br /> _�'. ,
<br /> c r e d i t e�w i t h an y balance remainin g for all installments for items(a).N),�(�)• }-,- ,`
<br /> ' - 3.Appl[tattoa oP Payments.All payments under paragraphs 1 aad 2 shall be applied bY L�cnder as folloNS: , -.. , ' -'-
<br /> `� � First-to the mongage insarance Prenuum to be paid by Ixnder to the Secretar�+or to the mouthty charge by the �. .�-_
<br /> � � � gec�etary instead of the monttily mongage iawuance preminm; ,: �, : _
<br /> . • - Se�nd,w any taxes�special assessments,leasehold payments or ground rents,and fue,tlood�d other ha7ard ..,�� _-
<br /> £!;.
<br />;'� ` ° insuraace p*-�mi�.as�quired: � . .. `r;,.�
<br /> . . Th'rd,to intemst due under the Note; F�'�:;~f;s -
<br />_ - . � . on of the ai of the Notc;an� �
<br /> _ _.. , _ Fo w amortizati P�iP :Y:'�
<br /> "_, •� i t to late charges due uader the Note. --=�
<br />-�'�' . . 4.F7re.F1aod and Othec Ha�rd Iasurauce.Borrower shall insute all impmvements on the Property,whether . -�'i=_-
<br /> cas�alties,aad contingencies,inctuding fire,for which � 'r�-`.
<br /> _ uow in existence or subsequently erected,against aaY hazazds, `
<br />�—;s� ... .. _ . .. , �';''�;;��-`.'•
<br /> Lender recN'ves insurancc. This insurance shall be maintaiaed iu the amonnu and far the periods that I.ender - :,i,g:Z.�_
<br /> � . - requines. Bonower shall also insure all imptovements on the PropertY, whether now ia e�risteace ot svbseqaendy -. �;,�
<br /> �.
<br /> .. . erecced,against loss by tloods to the eateat requiced by the Secretary.All insuraace shall be cazried witL oompanies �
<br />�`��:' . . ' approved by I.ender.The insurance policies and aay rencwals sha13 be held byr Lender and shall inciude loss payable I�_.
<br /> � clauses in favor of,aad in a form acceptabte to,l.ender. =•,�,__.
<br /> � •� In the eveat of loss.Borrower shall give Lender immediaze naace by mail.Leader maY make Pmof of loss if not '. ��..;�__=
<br /> made pmmptly by Bormwer.Fach iasurance campany+concemed is hereby authorized aad directed to make payment .. . , �``.��_T
<br /> �.'� � • � for such loss directty to Lender. instead of to Bonower and m Lender joimly. All or any part of the insurance ,:�
<br /> :,;;; . . . � pTOCeeds may he applied by Leader.at its option,either(a)to the reduaioa of the indebtedaess under the Note and _ _
<br /> r> �His Security Instniment,first to aay delinquent amounu applied in the order in paragraPh 3.and then to pt+�payment __
<br /> - : �- ';�:, of principal. or (b) to the restoration or cepair of the damaged Property. Any applicaaon of the proceeds to the F : ,,.,�.�
<br /> ',: :
<br /> ,. � � � principal shall not extend or postpone the due date of the montWy payments which are referred to ia paragraPb 2,or � , ,�ry
<br /> �,,,:'�::_.,.
<br /> • change the auaouni of such paymenu•AnY excess�nsu�n�Pr�over aa amount required to pay all outstanding � �1-
<br /> ;r._.,�
<br /> . -.��-r�_.
<br /> , . . i ndebtedness uuder the Note and this Securiry Insuument sha11 be paid to the endty legalIy entitled thereto. • ' ,
<br /> �� ln the event of foreclosure of this Security Iastrument or other trensfer of dde to the Property t i►at eatnsgui s h e s ,. :..�:—.
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<br /> • • the indebtedness. all right, dtle and interest of Boirower in and to insurance pol�cies in force shall gass to the . ;:�
<br />--- � puteha4et. " . .�,,��-
<br /> . • • 5.Occnpancy.Preservatton.Matnten�snce aad Protection oY the Pe�pertY: Borrower's Loan Appllca4ion; �� '"�=
<br /> s
<br /> � � Leaseholds. Borrower shall occupy,establish,and use the Property as Borrower's principa!residence within sixry -- . •
<br />-T'�''' . • ��, i days after the execution of this Security instrument tor within siary days of a later sate or transfer of the Property) : - °--
<br /> and shaU continue ta occupy the Property as Borrower's principal residence for at least one year after the date of
<br /> _�,.
<br /> :."�.' ' •• accupancy,unless Lender determines that requirement will cause undue hardship for Boaower,or wiless extenuatiag , . �
<br /> • • ciraunstances exlst which are beyond Borrower's conuol. Boaower shaU notify LeAder of az►y extenuating ,::t'�' . �
<br /> �-�1` • circumstances.Borrower shall not commit waste or destroy.damage or substanaalty change the Prapetty or allow the •. . .
<br /> .t`;;,. �f the Pro e �s vacant
<br /> _ property to deter_orate.reasonable wear and tear excepted. Lender may inspect the Property' P rt3+� °
<br /> ' • • or abandoned or the loan is in defa�lt. Lender may take reasonable action to protect and preserve such vacant or ,
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