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<br /> If the amounts held by I�nder for Fscrow Items eaueed the aanounts permitted to be heid by RESPA.L�er ;�-=���4,�'�f'-.`'-
<br /> � ,- . - shall ac�ount to Bonower for the excess fuuds as required by RFSPA. If the amounts of fuads betd by Lender at any . • . .
<br /> ' time are noi sufficient to pay the Fscrow Itemg when due,I.ender may notify the Bomswer and require Borrower w - :
<br /> .}_ ' . : ma�e up the shortage as permitted b Y RFSPA. far all sums s�u�ed by this Secaairy Instrument. If 5 :� �..
<br /> The Escrow Funds are pledged as asldiponal seauitY ,
<br /> � ' Borrower tendeis to L.ender the fuU paYmeat of all sucb snms,Borrower's ascount shall installm�t that�I.eader has ` -`-'t��`=
<br /> for aU�.Manmenc items ta),N), �(�)��mOrtB�e tnswrance Premium ;�^•:�:
<br />_ remaining excess funds to Borrowec. � ' ,�
<br /> , , not become obligated w pay to the Scaetary, and Lender shall promptly tefuad�ry „ .
<br /> ' � Imme�tiately prior to a foreclosure sale of the Property or its acquisitioa by Lender, Bosrower's acxouac sha11 be J ,`_ � �
<br /> � • . - � ccedited with 8ay balaAce remaininS fos all in.�Aitmenr�far items(a).(b).and(�)• _ .�"_'^
<br /> � � :i 3.Applic�ton of Payments.All payments under patagraphs 1 and Z shall be app1ied by Lender as follows: „' �,.
<br /> . 3 '�nst,,to the mortgage insuranoe p�emium to be paid by Lender to the Secretary or w the monthly charge by the .._ _ �
<br />' . , ' � gecr¢tary instead of the mantLly mortgage inswance premium* ;`4: " .-� � �
<br /> � .. . � Second•to aay raxes,special as�sments,2easehotd payments or ground rents,and fire,floosl and other hazard ,,' �'��
<br /> . �;, - -
<br /> - - :•� �nce premiumg,as reQui�ed: -: : l�
<br /> : � '.:� Third.to inte�est due under�he Note; �i;:�"_,
<br /> al of the Note;and �''�'`��
<br /> ' Fo to amo�on of the princip :,. �.^�i;;_--
<br /> �.:�:r�.
<br /> • • ` � _ Fifth•to late charges due under ttre Note. vements on the PropertY.whether . �'.s'°,i.�{�:
<br /> . . 4.�re.Ftoad aad Oth�Ha7asd Insurance.Bocrower shall insure all imP'ro ;:y�4:',':?;,.
<br /> . now in existence or sabsequently e�ected,aSainsc a�Y�T�•��aes,and contingencies.inclt�d'ing fire.for wh�cli —.. • ��,,,
<br />- • ��`' � Lender requires insurance. This insurance s6a11 be maintained in the amounts and for the periods that l.ender . •:;ti��-
<br />�_'- . ., . all im rovements on the Ptoperty. whether now in eaistence or subsequeatty ��c�-
<br /> • requires. Borcowet shall also insare P �e pll insurance sS�all be carried arith companies � ,',;�..
<br />- • - erected,aSainst toss by t�aods to the extent required b3+ �• . • ,--
<br /> ' � ,.. �r appmved by Lender.The insurance policies and any nnewats shall be held by Lender and shall include loss payabie . ``'�-_
<br /> �•°��
<br /> � ctauses in favor of.and in a foria acceptable to,Lender. ,. ;:V'—�r;
<br /> -� In the eveat of loss.Borrower shall give Lender imme+liate notice by mail.Lender maY make Pmof of loss if not �
<br />-.� : made promptiy by Bo:rnwer.Each insurance comPany concemed is hereby authorized and directed to make paymeat ;•�.
<br /> � for such toss directiY to Lender. instead of[o Borrower and co l.ender ioindy. All ot aay part of the insuraace "•.�:;:�
<br /> _, � proceeds may be appliod by Leader. at iu opdon,eisher(a)to the reductton of the iudebtedness wtder the Note and . : ��. ___
<br /> • � �S��ty�n e n t. f i�s t t o a n y delin queat amounts applied in the order ia paragraPd 3,aad then to Prepayment ; ����°.
<br /> . o f princip a l. or (b) to the restoration or repair of the damaSed PcoPertY. My app l i c a don o f t he p m c e e d s t o t h e . .�
<br /> � ` . . , ' . princiDal sha11 no[extend or poscpone the due date of t4�monthly payments whicb are referred to in para&raP h 2.or •�•�-��•_
<br /> � change she amouat of sucb paymeats•Any excess insurance proceeds o�eT an amount reqnired to pay all ouutaading ��..�—
<br /> �.—
<br /> ' � � indebtedness under the Note and tl�is Securlry Insm�ment shall be paid to the eatity tegaUy entitled the:eto. •: • _
<br /> r_�, ' In the event of foreclosure of this Securiry lnstnunent or other transfer of cide to the Property that extinguishes _ ��.
<br /> , . � the indebtedness, all right, ti[le a a d i nterest o f Bo r r o w e r i n a n d w i n s u t an c e p o l i c i e a i n f o r c c s h a U pass t°the . .:.:�,.-,
<br />_ . . . . �L,,,.,.�. �... . � '�4=:'T-
<br /> {361T�
<br /> %• . 5. Occupancy.Preservation, Mainteaance and Protectioa of the Property,Boaower's Loaa Appllcatton. ,.� : .' ;;,�-..'
<br /> . i.easeholdv. Barrower shall occ�py.establish. and use the Properry as Bonower's principal residence within sixry . _ -
<br /> � days after the execuuon of this Security tnstrument (or within sixty daYs of a later sa�e or uansfer of the Property) -
<br /> ` aad shall continue to occupy the property a� Bonower's principai residence for at least one year after the date of .
<br /> accupancy.unless Lender determines that requirement will cause undue hardship for Borrower.or unless eatenuating
<br /> ' circumstancas exist wbich are beyond Borrower's control. Borrower shall notify Lender oY any emenuatiag . . .
<br /> • •; cir�umstances.Eorrower shall not commit waste or desuoy,damage or substantially change the Property or altow the .
<br /> :� : Properry to deterilhettoan'is=in defauelt Lender may ptake ree�onable act on o p o�ectp d preserv�such vacant�or ° . .
<br />':`'"' or abaudoned or • ' . _
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