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<br /> • �—� if the amounts heid iry Leader for Escrow Items excxed the amounts permitted to be held 0y��SPA.Lender _--� '
<br />�.�... � ,. F _`i_:= :,:.
<br /> shali accounc to Borcower far the excess funds as requued by RESPA. If the amounts of funds held by Leader ai�►y �
<br /> ,'.• `., � .' . � time are not sufficieat to pay the Fscrow Ite�.s when due, Irender may aarify the Bomnwer and require Bomuwer co , -
<br /> �r.,� make ap the shortage as permitted by RFSPA. ���_ � ` ' � ; `
<br /> •�� �. The Fscrow Fnnds are pledged as addiuonal se�auity for all swns sea�red bY this S�unn' •. „" .
<br /> :;=.' � . � Bonrower tenders to Lender the fiill payment of all such swns.Bonower's account shall be credited with tlie�alance •. •:: ;,
<br /> .:�, ` iemai�iug foi all ins�allmeIIt items(a),(b).2IId(C)�d aAy mortgage insu�anee premium incrallmenL that LeIIder has .�`� .�,,:_:
<br /> BlCCCSS fU11aS IO �OI[OWEi. '""`'
<br /> `'<, •' . not become obligated ts pay to the Secietary, and Lender shall pmmptiy refimd any , ::-:.--,
<br /> ' ' tmmediately prior to a foreclosure sale of the Pmpetty ur its ac9uisition by Lender, Borrower's accow�t sha11 6e �; `"•;�L",
<br /> f��inaratlments for items(a),(b),and<�)• F
<br /> , ' . ...; ' "
<br /> credited with a�+balance remaining hs 1 and 2 shall be applied by Lender as foltows: '" •�:�'•�-
<br /> :� . � . ;�. 3.Appllcatloa oi P�ymer�ts.All payments uader paragrap .,
<br /> . . Fiist•to the mortgage insuiance premium to be paid by Lender to the Secretary+or w the montLly charge by the �. . _
<br /> � •. g�tary instead of the mo�tnangage insurance premium:
<br /> . � � � Secand•to any taxes,special assessments,leasehold gayments or ground rems,and tire,ftood aad other hazar�d . ,[�'_
<br />;�:�. . _;:=: �premiums,as required; ``-=
<br /> - . � ',-`� Thi w icuerest due under the Note;, ,
<br /> ;+ � _ • .
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<br /> . � . ..._.i Fn to amortization of the principal of the Note;and ; . `•,���
<br /> � '�j.,i f t�,to late charges d ue u n der t he No t e. .� .` �--.
<br /> �;,. _
<br /> Borrower shall iasure all improvemeats on the Properry,whether • 7.� ��"
<br /> . a.�,�aoa�a ocn�e�a r�ce- ,�-�..� c;�-44��-:
<br /> .�. . . ^._ now in e�cistence or subsequently erected,a g a i n s t anY ha�a�d��casualries.and cantingencies,including fue.for wIuch _ _ ,i ti�---
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<br />-` �' ' . Lender requires insutance. This insurance shaU be maintained ia the amounts and for the perlodg that Lender . q-^
<br /> �"��i . . requires. Borrower shall also insure all impmvements on[he Properry, whether naw in existence or subsequently .•�,:���LL,,
<br /> .` All insurance shatl be carried wItb companies ' -,$-�
<br /> �`� emc[ed,aSaiast loss by floods to the extent required by the Secretary• '� , ,� "��°�_
<br /> • . . ' appmved by Lender.The in5urance policies and azry renewals shaU be held by Lender aad shall include loss payable • . .— _
<br /> - � � clauses in favor of.and in a form acceptable to,Lender. � - ��.
<br /> ' � • � � In the event of loss,Borrower shall give Lender immediate notice by mail.l.ender may matce pmof of loss if aot , • ,.�•.;.,�_,
<br />-�'�t�; •• made promptly by Borrower.Each insurance compan3+concemed is hereby authorized and directed to wake payment �` : • . ;� ;�__
<br />-.,:� . , art of the insuraace �-°�
<br /> for such loss directly to Lender. instead of to Borrower and to Lender jointly. All or any p _ �, ':..u•�'=
<br />.z��:-� --•� " � � proceeds taay Ue applled bY Lemder,at iu option,either(a)to the reduction of the indebte�aess under the Note and . __
<br /> . this g¢turity Insttument,first to aay delinquent amounts applied in the order in paraSraph 3,and then to prepayment . -�__
<br /> lication of the mceeds to the � ��
<br /> � of principal. or(b) to�the restoration or repair of the damaged Properry. Any app P
<br /> . . � � principal stial1 not extend or postpone the due date of the monthly payments which a:e refernd to ia pata�tapb 2,or . �
<br /> � ` � ' change the amount of such payments.My excess insurance proceeds over an amount requimd to pay aU outstanding �_
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<br /> indebtedness under the Note and this Securlry Inscniment shaU be paid w the endry legally entitled thereto. . _
<br /> • �' ' In the event of foreclosure of this Security lastcument or other transfer of dde to[4�e Property that extinguishes , ;��
<br /> : . .. '',`;�;`:�.1
<br />�=�;.� � the indebtedaess, a11 right, tide and interest of Bonower in and to inswance policies in force shalt pass to the _—
<br /> � ,,; . � . purchaser. ,_, •�_
<br /> . 5. Occupancy,Preservetion,Maintenaace and Peatedion ot the Properly: Borrow�'s Lbs�a Apptication;
<br /> � � ' � LeascCsolds. Borrower shall occupy,establish,and�se the Propercy as Bonower's priacipal residence within sixty +,
<br /> �; � : . ��. days after the execution of this Securiry Instrument(or withia sixty days of a later sale or traasfet of the Froperty) .. . �,i;,-�
<br /> ' and shall continue to oc�cupy the Property as Borrower;a princlpal residence fos at least one year after the date of . .:;s;.,;•
<br /> �',, � � acc.�pancy,unless Lender determines that requiremeat wiU cause undue hazdshlp for Borrower,or wNess extenuating : :
<br /> �• � • circumstances exist which are beyond Boaower's wnaoi. Borrower shall notify Lender of any extenuating
<br /> i � .. � � cirpimytances.Bonower shall not commit waste or desu+ny,daznage or substantially change the Property or allow the . •.•- :
<br />. . . � . . property to deteriorate. reasonable wear and tear eacepted.Lender may inspect the Property if the Property is vacant � � .
<br /> . � or abandoned or the loan is in default. Lender may take reasonable action [o pmtect and preserve such vacant or �. ��.. r •
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