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<br /> - �';;--,-4.--'", If the amounts hetd by I.ender for Escrow Items exceed the amounts permitted to he held by RESPA.l.ender •",�`.-
<br /> •• • - - shall account co Boaower for the excess funds as retNired b3+RESPA. If the amo�mts of funds held by Lender a.any '. . ,
<br /> -, - - _-- - time ate not suffcciwt to pay the Escmw Items w}ten due.Lender may norify the Borro�rer arict�tire Sorrower to ,.fi' : `--'- ; _ .
<br /> . . , . matce up the shortage as pemaitted by RESPA_ ° ` _
<br /> The Fscmw Funds are pledged as addidonal securiry for all sums secured bY this Se�auiry Insm�ment. If
<br /> . Borrower tenders w Lender the full payuient af all s¢ch snias.Borrower's accouat shall be credited with the balance . '
<br /> ' � T° remainiag for all in ailment��(8),(b),aad(a?and any mortgage insur�cce premium installmeut that Lender lias ;� , �`�_-_
<br /> , ('�`.� not become obligated to pay [o tlxe Secretary, and Lender shall Pm�PU3+ ��aay exoess fimds[o Bomawer. ` ;'� �•..,,��.':_;
<br /> Immediately prior to a foreciosnre sale of the PmPectY or its acquisition try Leader, Bomnwe�s accoimt sha116e `•�.'":: ;�' =ry
<br /> • � . Credited with aAy balance*P••�aining for atl instatlme.�t�for items(a),(b),and{c). . . ` ''���:
<br /> -. � • . .. 3.AppHcation oY Paymeats..�►ll payments under pas�hs 1 aud 2 shall be applied by L,ender a3 follows: �," . ;.�'�.
<br /> . � {` rr to the mortp�ge insurance premium to 6e paid hy I.ender to the Sec�or w the montht}+ct�arge by the . .
<br /> . . �� �j: gecresary instead of the monthly mortgage insarance Premium: • . `' ,
<br /> , �econd•to aay taaes,sPeceal assessments.Ieasehold paymenu or ground reats,and fire,Sood and other haza:d
<br />- . �- insurance premiixms,as r�uimd: . � --
<br /> � � ird to inte�est due under the Note; � _—_
<br /> • ���. � - Fo to amortizauoa of the principal of We Note;aad • _ __..
<br /> .; r.f.�_ Fifth.to laze charges due under the Note. . . ,;_
<br /> 4.F'�Ftood and atther Hazard Insarance.Borrower shall insure ali imps+�vements on the Pmperty.whether ,` �� y.-�."
<br /> ;�. now ia existeace or subsequendy erected,against any ha�ards,casualaes,and coatingeneies,inc2uding 5re.for wbich ���
<br /> ;'`-�� � �„ranns shall be ma�.ained ia the amounts and for the periods that L.ender �- ,,_:��p.
<br /> IJender requires insurance. This '�
<br /> whe.ther naw in existenee or subs�}�ntly r.:...�,_--. _
<br /> . requires. Bonowec shall also insure alt impmvements on the Property, � N_�:_�
<br /> • • '•��° erected,against toss iry floods to the extent required by the�retary.All insurance shall be canied arlth corapanies . . =-
<br /> �:. ' � � ' aPPmved by Lender.T'he ins,urance Pulicies and az►Y reneavals shall be held by Leader and shaU ineiude loss payable :.-__
<br /> ' � � �= clauses in favor of,and in a form acceptable to,I.ender. • ''-."
<br /> _ . ,�.: ,_: .
<br /> � In the event of loss,Borrower shaU give Lender immediate notice bY mail•L��maY make Pi°of of toss if not �'� ��-_
<br /> made prumpdy by Borrower.Each insurance compairy concerned is hereby authori�3 and directed to make payment -�-_�
<br /> • � for such toss d•.�ctiy to 1-ender. instead of to Borrower and to Le-,�.,ar joindy. All or aay pat�of the insurance • �`'� :�
<br /> . ..-!�_'. � Proceeds maJ►�aPPlied by Lender,at its opdon.either(a)w the m�.'aon of the indebteduess�der the Note and • :.,::..��`�
<br /> � ' ' tlais Sec�uriry tnsnnment,firsc to any delinqnent amo�mts applied in the order in paragraph 3.and chen w PrePay�ent =_
<br /> .-. � ,,r' � '•' of principal. or N) to the restoration or repair of the clamaged PropertY• �Y aPPlication oP the pmceeds Yo ct�e . �At� g=�=..:
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<br /> `' f principal shal��9t extend or postpone t he d u e d a t e o f t he mon t W y.p a y m e n t s w l u c h a r e r e f e r r e d t o i n p a r a g c a g�r.o r .: • �,.'��;�''
<br /> ' �'.� change the am�:�t of such paymenu.Any excess iasurance proceeds a�rr an amount required to pay all outstanding •��.�. �. "`�'��---
<br /> � � � indebtedaess�.�r the Note and this Secarity Insuument sball be paid to the entity legally eatitled thereto. • . ''`��==:_
<br /> � in the event of foreclosure of this Security IAStrumeat or other transfer of ritle to the Prugerty that e�ctinSnighes ;`�,s-a
<br /> ' • the indebtedness, all right, tide and interest of Borrower in and to �n��*ance pOliCies it� fotce shall,pass to Ihe .;";'F.�..f
<br /> -- pncr,�ser. ----_'.' �-�-
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<br /> ,� ,,"�.. 5.Occupancy,preservatioM MaI�aance and Protedion of the Propeity,Borro�er s Loan App@catton; . .. __ _
<br /> Leaseholds. Borrower shall occupy.establish,and use the Propert}as Borrower's princlpal residence withia siaty : _,-_
<br /> � , . . days after the execution of this Security Inswment(or within sixty days of a later sale or aansfer of the Pcaperry) .
<br /> � and shall continue to occupy the Pcoperry as Borrower's principal residence for at least one year after the date of . �
<br /> � � occupancy.unIess 1-ender determines that requirement wiU cause undue hudship for Borrower,or un2ess extenuadng , -
<br /> "' • � circumstances e�ist whlch are beyond Borrower's contml. Borrower shall aodfy Lender of any e�tenuaring , .
<br /> � � :�; circumstanees. Bo�rower shall not commit wasce or destroy,damage ac substan6ally change the Propesty or allow the . .
<br /> •; ' Property to deteriorate,reasonable wear and tear excepteA. Lender may inspect the Property if the Property is vacant . . .
<br /> � ' S or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve such vacant or •�;,�' ,:
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