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<br /> i �,ender may,at any tune,collect antl notd emaunts tor Eserow �tems �^en e98�eflgte amount not to e�cceed the maximum � ,
<br /> ` � amount that may Ce�eQuQed for Borrowefs eserow account under the Rsa�Estete Settle�t Procedure5� af�g�4, �2 U.S.C. � ; ' � ;
<br /> - . §Z607 g3� and imPiementin9 regu4ltions.24 CFR Pert 3540.fls they maY be amended hom time w time ('RESPA'?. exeept _ . . ' _
<br /> � ` that the CushiOn Or resenre pertn3ted by RESPa for u�BnUC�Aated disbWSemer►ts G� di5bu�sement5 betore the BOnOwers
<br /> ` � � • pgyments are 8vai7a0ta in the account�nay not be base0 on 8mounts due for the mortgege insurance premoim. ' � .
<br /> � ' If the amounts held by Lender tor Fscrow Items exeead the amounts permitted to be hetd by RESPA. Lender shall ar.count � � t.
<br />,s.�� � ' to Borcower tor Ne excess fu�ds es�eq�aed by F�PA tf the amounts of tunds held by LenQer at any time are not sufHCient to .. •
<br />! , i � pay ttie Esaow Items w�en due,tseder maY notdfl the Barrowet and requiree 8artowet to make up tha shortage ss R��d by � ` .
<br />- • <}� �a tnstrumenL tf Borrowar tenders '
<br /> �' . The Esctow Funds 8re PtedSed es addition8i seCUritY tot eff sums seCUCed by this Seeur+�y . . . . . .
<br /> �. `, ';`� to Lender tha tull paYme+►! o!all such sums. Bocrowe�s account sAaO be ccedded wrth the batance remaining tor an instaltrneet . _. ..
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<br /> . . � items ia}. (b). ane (c)end any rnortga9g insurance premium instaftrnent that Lender has not become obfigated to PaY to the T` ^ :
<br /> Secretary,and Lender shau promptry cetvnd anY exceu�unds to Bortower.immediatery prior to a toreetosure sele o1 the i�operty � •
<br /> �` ' or its acQusitlon by Lender.Bortowers account shaU be credlted w�A anY batarte9 remaintng tor ali instaliments tor items(6).(b?. � '.._t. t ' . ;1'
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<br /> +_ . " , h I�ed by Lender 8s foilows: �
<br /> , 3. Applii�Li011 Of P8y►11181118.Ali paytrtents under PBtag�eP 5 1 end 2 shall be 8pD� .
<br /> ��� F i f S t,t o t h e moR g a g e insurance PremWm to be pald Dy Lender to the Sacretary or to the monthry eharge by the Secretarfi ,;,. .�� t-:
<br /> �'•"� � � ots t e a d o f t�e m o n t h ry mo rt g a ga insutance premium: ' '��.'�?'�
<br /> -;'` � � � . ' ��:.
<br /> � �` Second, to anY taxes. sPecial assessments. �easehald payments or ground rents. er►d fire, flood an d o t her h a r a r d :' � ;,
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<br /> J� � : „��� msurance premvms.es required: ;;,1�.`
<br /> {' . . : ThiTd�to irrierest due under the Not� .. 4._ :,`;
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<br /> f : FOU�th,to amortimtion of the princtyal 01 the Note:end . , _
<br /> � . � G � F��LIt�to�ate cherges due under the Note. ;• ` �� .
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<br /> �, _ . � 4. Flre, Flood and Other Hazard Insurance. 8orcawer shatl insure all imDrovements on the Property. wneener �' ��
<br />-1� � nov, m existence or subsequentry erected. aga�st enY �azards, casuafties. and corttingertcies� mclud�g frce.!or which Lender - .. .`°.',i;•�.—
<br /> '� requ�es insurance. This insu�ce shaU be maint8ined m tho emaunts and for the periods that Lender requir�es. 8ormwer sha0 --� --=. ,�
<br /> i� � � a t s o v�s u re all im provements on the PropeRY.whether now m exfstence or subsequentry erected, agai�st loss by naods to the : '•,. � ��
<br /> ranCe olicies end '.�:�-:
<br /> ���� � extent requued hy the Secretary. All insurance shall be cerried with companies approved by�ender.Tha inso P �• .;��
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<br /> ,�. _ . any renewafs shall be held by L.ender end Shail inciude to5s pay8b�e ciauses m rdvor of,end in a fCr►►�aCCeptae�s to+Lender. ,'Y`
<br /> In the event of loss. Bortower shatt give Lender imm9tfiate notiCe by mail• Lender t►�aY make proof of Ioss ff not made ,r� ,
<br /> .;'r . , . promptly by Borcower. Each insuran�compeny cancemed (5 hereby authorized end directed to make payment tor SuCA toss � ;. .���_
<br /> ,�{;.„ , , . d'uecUy to lender. instea� of to Borrawer and to LenQer jo(nUy. AO ar any part of the �nsuranee P��e��y be apP6ed bY . '.P;;�;
<br /> ' Lender, at its opUon,eithher(a) to ths reducGon o}the indebtedne5s under the Note ana this Secu�Y �ns�e��.�t to any . �`���_
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<br /> delinquent amounts apptied in the order in Paragraph 3,and then to prepayment of principa4 or(b)to the restoraUon or repab of :. f,�,
<br /> �� ' the damaBed Propeny. �Y aPPfication of the praceeds to the princtpaf shaA not extend or postpone the due Qate of the .. -
<br /> •,i montts.y payments wh�h are relarted to in Para9reDh 2. or change the 8mount ot such payments. My wccess insuran�e � . : -�'4'�.',
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<br /> �,. proeeeds over en amount require d t o p a Y a i l o u t s m.n d i n g i n d e b t e d n e s s u n d e r t h e N o t e and this Security �nstrument shaD b�:.�1d " ':,'��
<br />�;t S?�.: ' � , _ t o th e ent i t y Ie g a1 H entitted thereto. '°
<br /> .�;;. In the event ot toreC�osure of this Security Instrument or othet Vans t et o i U U e t o t h e P ro p e R y t h 8 t e x d n 8 u i 5 h e s i h e '-�_
<br /> �,fi � � indebtedne5s,all right,tRfe and interest of Bottower in and to insurance Do��t�m fo�e shall pass to the purchaser. ^5r�
<br /> � �� •� 5. Occupa�cy, PreservaUon, Maintenance and ProtecUon ot the Froperty; Borrowe�'s Loan �. . " �;
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<br /> � ,. Application; Leassholda aorrower snau occupy,esteblish,end use the PropeRy ss 8ortowet's prirtCip81 restdente withirt . �_
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<br />�,��`�� � � scRy days aft9r the execution of thls Security tnstrument(or withln sbcty daYs of a tate►sate or Uensfer of tt�e PropeRy)end ShaO __
<br /> r..;�� • continue to occupy the ProDerty as 8ortowers principal residence for st Ieast one yeat after the date of occupancy uniess _-_
<br />�f'' : Lender determines that requirement will cause undue hardship for Bortower, or uniess extenuaUng circumstances exist which ete ..:e.::
<br /> beyond Borrower's contrcl.8ortawar shell notNy Lender of eny extenuating c►rCUmstances.8ortower shall not comm�l waste or : :•�'`�i,-�.
<br /> '1 desUOy, damsge or 5ubstantialg t"+dnge the PrOpe rt y or allOw tha PropeAy t0 Qeteriorate, ressonable wear and tear ex��ted. •
<br /> Lender may inspect tho Properry �me P�opery s vacant or abandone0 or the loan is in tletauh. Lender may take reasonable �:�
<br /> .`����' � action to protect anC Oreserve suct vacar: �'2ka.�aoned Property.6ortower Sha1l a�so be In deffiult if Bortowar,durfig the loan .,
<br /> `:;':: � ' . appiication process,gave matera�Y �=�se or inaccurate Information ar stetements to Lender(or tailed to provide Lender witt►any
<br /> � � material nformation�m connect�on wrtA the �oan evidenCed by tde Note, inctuding,but not ��'=d to,representetions conceming
<br /> Boaowers occupancy o1 the Praperty as a Orincipal residence. It this Securityr Instrument is on a Ieasehold, Bortower shall •_
<br /> _ � comply wdh the provisions of the lease. If Borrower acqu�es fee titte to the Property, the Ieasehoid and (ee tRle sAall not be . • '�
<br /> ' merged untess Lender agrees to the merger in wrRing. . �::. .
<br /> �":�i 6. Condemnation. The proceeds ot eny award or cla6n tot damages, direct or consequential, in conneedon with anY , .
<br /> condemnation or other takin9 01 any part ol the ProDeRy, or for conveyance�n P�ece of condemnatlon,are hereby assigned end ,
<br /> � shan be paid to Lender to the extent o1 the fu�� amount of the Indebtedness that remalns unpaid under the Note e�!0 this •
<br /> SeCUrRy InstNmB�L Lender Shall epply suCh proceeds t0 the reduCtion o)the indebtedness under the Not9 end this SeCUr'dy �
<br /> �� Instrument, fust to any delinquent amounts eppiied in the order provided in ParagraPh 3,end then to prepayment ot principal. . ;
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<br /> • Any apphCation of the proceeds to the prinCipal shall not extend or postpone the due date of t�e monthly paymentS, whlCtl 8►e
<br />' referred to in Paragraph 2, or change tne amount ol such paymeots. MY excess proceeds over an amount requued to pay all
<br /> ; ;` outstandmg indebtedness under the Note and this Security InsWmenf shall be paid to the er.;iry legairy entitled thereto.
<br /> ° � • 7. Charges to Borrower and Protection of Lender's 6iights in the Property. Bonower sh811 Day an
<br /> govemmental or municipal charges. lines and imAositions that are not inctuded in Peragraph 2• Bortower shall pey these
<br /> obiigatlons on time d�recty to the entiry wnich is owed the payment. H faiture to pay v,outd adversery eNect Lender's Interest in
<br /> the Property.upon Lender's request Bortower shall prompty tumish to Lender receipts evldencing these payments.
<br /> N Borrov�er fails to make t�ese payments or the payments required by Paragraph 2,or faiis to pertorm any other Covenants
<br /> .{ and agreements contained in this Security Instrument,or there is a legel proceed'mg that may signticantiy atlect Lendet's rights in
<br /> � the P�operty (such es a proceeding �n bankruptcy,for condemnation or to entorce laws or regu�ations), then lender may dv and .
<br /> � pay whatsver �s neCessary t0 protect the ve1u0 ot the PrOperty end Lender'S rights �n ihe Property, ��CludNg payment o}taxeS. �
<br /> ' harard�nsurance end othei Rems mentianed m Paragraph 2. •
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