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<br /> If thc emounts held Uy Lc.nder for Escrow Itcmg wccocd t1►c amounts permiued W be hcld by RESPA,l.endcr shnll ;-:N
<br /> ' account to Barrower for tho excess funds as requfred by RESPA. If the amounts of funds held by Lender st any tirn� �� �_
<br /> � �� are not suffici�nt to pay the Escrow Items when due.l.ender may notify the Borrow�r and require Horrower to make np ��;J?
<br /> �. the shortage as penniued by RESPA. °�`:::
<br /> � 'itie Escrow Funds are pledged as edditianel securiry for all sums secumd by this Security Insuument If Barrower _
<br /> tenders ro Lender the fuU payment of atl such sums, �omowee's sccount shaU be credlced with Iho baltu►ee remeining for
<br /> all instaliment items(a), (b). and (e) and any mortgege Insivancc Premium installment that Lender ha9 not become
<br /> obligaud to pay to the Secretary�od i��uiSlflon by Lender,Borrower's account hall be credited wit�h eny balance
<br /> a foreclosure sale of Ihe Pcoperty „
<br /> remaining for all installments for items(a),(b).und C�)� hs 1 and 2 shall Ue applted bY Lender es follows:
<br /> 3.Applkatbn oI Paymenta All payments under paraS�P '
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<br /> �,to the mort„age insurance premium w be paid by I.ender to the Secretary or to the monthly charge by the
<br /> Secretary instead of the month�y mortgage insurance premium; • -
<br /> ���, to a�ey�a�ccs,special assessmcnts.leaschold payments or ground rents,and fire. flood and other hazard .�,vw
<br /> insurance prcmiums�as rc;quired; ' ,�.
<br /> � y�,to interest due under tha Note; .•.;�,=;�,'�_-
<br /> � �,to amoitizadon of the principal of the Note:and ;:; :•,.�,
<br /> �,to late charges due under the Not�. �' .�`�
<br /> ,whether
<br /> 4.�ire� Flood and Other HaYard Insur�ance.Borrower shaU insiue all lmprovements on 1he F'rop�rtY .}�
<br /> � now in exlstence or subsequendy erected,agau►st anY ha�ards�casualties�and�°ntingencies,including fue�tbr whlch �q�r �,
<br /> I.e n d c i r e q u i r e s i n s w a n c e.T h i s i n s u r a nce shall be maintained in tho amounts and for ihe periods that I.ender requires. �
<br /> ^���t B o r r o w e r s h a ll a L s o insure all impn�vemenu on the Ronerty.whethex now in existence or su bsequen t ly e r e c c e d,a 8 a i n s t
<br /> -_ —' las b;fl�a m the extr.nt recluired bY ihe SeciCtAry,A l l insurance s h a ll b e c a r d e d w i t h c o m p a n i c s a p p ro v e d b y L e n d e r. �
<br /> � ` 'Ilio insurance policies and any renewals shall ba held by Lender ead shall include ioa�puyabt��l as�'sn fs:•r.r Q f.�nd v
<br /> . • in a form acceptable to.Lender. �:`
<br /> �� In the event of loss,Borrowes ahell give 1.endu immecl3ata noflce by meil.Lender may meke proof uf loss if not , �`.
<br /> mnde prompdy by Borcower.Bech i��surance company conce�med is hereby authorized end�fdirected�p�g�y �
<br /> such loss dlr�ctlY to Lender,insu�d of to Borrower end a Lender joindy All ot anY P� �
<br /> be appged by Lender, at its option.either(a)to Uro rPAucHon of the indebtodness under the Nou and this Soc.urity ;
<br />' Insuument,fust to eny dellnquent smounts applled in the order in parugraph 3�and then to prepaynnnt of princZpal,or .:
<br /> pn llcation of the to the pdncipal shall not eatend �+�-
<br /> (b)w the resto�arion or rapair of the dema8ed ProPenY• Y 8FP � .
<br /> - or postpone the due date of t�e monthly payments which a�+e refert�ed to in paragraPh 2.or change the amount of such
<br /> payments.Any excess insurance Proceeds over an emQUnt m.c►uired W pay all outstanding indebtedness undu the Note
<br />:�, ' nnd thls Securiry Instmment shall.ba peid to the entiry legallp endtled thereto. ��"
<br /> 1n the event af forocbs�ue of thls Security Instameut oc othu transfu of dde w the Propcxcy tl�at ext��$uishes t1�° �r'"`�`
<br />- .� indebtedness.ell right,dtle and intaest of Borrower in and to insurance poIIcies in force shall pass to the purchaser.
<br /> v� }�'"� � S. Occup�ney,I'reservotbn�1NaWtennnce �na Protection ot the Property; Borrower's Loan App�kntioni _
<br />" ... {. : I,easehotds. Borrowes shall occupy,establlst�,a�d use the Pcopecly es Bomower's princlpal residence within s a da�ys
<br /> • aft�et the execudan of this Security Insuument(or within si�cry daYs of a later sale or transfu of the PropertY)
<br />-- ' ' ' conrinue w occupy the Propecty as Borrower's principal residence for at least ono y�after the date of occupancy. —��'--
<br />``� nnless Lender detcrmines that requirement will cause undue herdship for Bosower,or unless exte�watin8 circumstances
<br />;�.,.�,: exLst which are beyond Borrower's conirol.Bomower shall nodfy Lendu of any excenualing circumstanr.es.Bocrowu �
<br />-�.,', ,,:�^. - shall not cc�mmit waste or des4roy.dama8e or substandnlly et►a�►ge the ProPuty or allow the Pcopecty to detalorate�
<br />'" '`�. .. reasonable wear and tesu excepted.Lender may inspect tho PmpertY if the ProAertl'1s vacant or ebandoned or the}oan b -- —_--__
<br /> � � � in defaul� Lender may take reasonuble acuon to protoct ancl pieserva such vacant or abandoned PropextY• _ �
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