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<br /> 4 ---=--=-` if the amounts held hy l.ender for Escrotiv Items exceed the amounu permiued to be held by RESPA, I.eader - _ -
<br /> ' . shall account to Borrower for the excess funsts as required by RFSPA. If the amounts of funds hetd by I.ender at any ,
<br /> , time aze not sufficiem to pay the Escrow ltems when due,L.ender may antify the Borrower and require Borrower to �
<br /> . � �°•: make up tlne shortage as permitted by RFSPA. :
<br /> �{ �,- - The Es�row Funds are pledged as addidonal security for aU sums secvred by this Secauity Iastrumen� If . � � :
<br /> =:�i . : ' Bosower teade�s to I,ender the full payment of all sach sums,Borrower's aceount shall be cre�lited wit6 tfle balance : ' .- _
<br /> �..:.
<br /> � , . ' �maining fos aU installment items(a),lb),aad(a)aad a�►Y mortgaSe insurance P�emium^' aum t that Lender has . .< -_—
<br /> ' not become obligated to pay to the Secretary, and Ixnder shall pmmptty refimd any euxss funds to Bomower. . ' " `--_
<br /> ` . , � � lmme8iately prior to g foreclosure sale of the Property or iu acquisition by Lender, Bormwer's accoimt shall 6e ' '':c"
<br /> t'!`� , � , .- c�redited with any balanr.e remainiag for all installmenu for items(a),N),and(c). � : -
<br /> �-- .' 3.App�icatton of Pa�meats.All paymenu ander paragraphs 1 aad 2 shaU be applied by Lender as follaars: " ' -
<br />�?� � ecs,to the mortgage iasurance premium co be paid by Lender to the Sec�e[ary or to the monthly charge by�he �-',,:;yy:
<br /> ;' . ' Sec�tazy iIDStead of the mon[hiy mortgage incnrance p���; � _
<br /> ,.:
<br /> . • = Second.to aay taxes,special assess�nents,leasehold paymenu or gtound cents,and fue,flood and other haTard �•r� , - -
<br />'y,;. ._ . :�. iasivance gremium4,as required: • �- ---
<br /> ` - - � • =~' Thi to interest due under the Note;
<br /> . '�,:. ,
<br />�"� `' � - ou w amortizaaoa of t6e principal of the PIote;and - • __-�.._
<br /> ��.. r.. .�: '� . :,
<br /> � �,to late charges due uader the Note. • •
<br /> i. � � ` 4.F'ue,F7ood aad Other Ha�ard Insmance.Bormwer shall iagure all improvements on the Pluperty,whether • - ` Y
<br /> •"„� � •, �-�
<br /> . ...`,. now in existencc or sab
<br /> � ��Y�,aS���Y�,casuaIties,aaQ conqngencies,inciuding fire.for which _
<br /> r' Lender requires insurance. This ins�rance shall be maintained in the amounts and for the periods that LeIIder ,. ° -
<br />':••r.`-:'��. ' ; requires. Borrower shall also insure all impmvements on the Properry, whether now in existence or subsequendY � =_°_.
<br /> ` ' :`-j:"'• • 3 erected,against loss by floods to the extent required iry the Secre[ary.Atl insurance shall be cazried witD cumpanies ;��.�
<br /> ;",.�.s,_..
<br /> ":'� .�: . : . ":}, approved by Lender.The insivance policies and any reaea+als shall be held by I.ender�d shali iaclude lass payable _ � _-
<br /> �,: .;. clauses in favor of.and in a form axeptable to,Lender. `__.�_.
<br /> '' ` � . �.,.'F In the event of loss.Bomuwer shaU give Lender immediate notice by mail.I.ender may make pmof of toss if not ' '> �r'�-'
<br /> ' . � .'•-} made pmmptiy by Bormwer.Eacb in�,•as�company concerned is hereby authoiized aud directed to make payment `` ,..� .��'
<br /> .c .,,,
<br /> • ' �. ' ;;:,� for sucb Ioss direcdy to Lender, iflstead of to $orrovver and to Leader joindy. AA or any p�att of the insurance ` �= "-`:__
<br /> - -- ., �� _Q� proceeds may be applied by Lender.at iu opaon,either(a)to the reduction of the indebtedness under the Nota and . �.._
<br /> - :�';;' [his Security Instrumeni,first to aay delinqaenc amounts applied in the order in paragcaph 3,and then to prepayment � ��, '•'�'`�';"
<br /> ' �� g � . .
<br /> ,..,� of principal, or(6) to the restoration or repair of t6e damaged Property. Any application of the proceeds to the . , ' ��`,�';:
<br /> :, ..,,,. , .• • 1 principai shall not extend or postgone the due date of the monthly payments w6ich are referred to in pazagraph 2,or • • . . ;�L�-
<br /> - � change the amouat of such payments.Any eacess insurance proceeds over an amount reguired to pay all ouutandiag _
<br /> iadebtedness nnder the Natc aud t1�is Seauity Insuument shall be paid to the entity legally entided thereto.
<br /> � � :�f•�� ln the event of forec�osure of this S�urity I�um�ment or other transf�r of title to[he Froperty+that extinguishes • -
<br /> ',"< ' :'� the iadebtedness, all right, ritle and interest of Borrower in and to insurance policies in.force shaU pass to the � • __
<br /> a�� � •
<br /> � purchaser. -
<br /> � � . 5.Qccupancy,Presesvatton,Mainteaance and Protectton of t6e Prope�y;Borrower's Loau A�pUcatton; �'�' . ,
<br /> � � • � � I.cagehotds. Bonower shall occnpy, establish. and use We Property as Borrower's principal residence wi[hin sixty '�;��r.. '.,, � "'. �
<br /> � . � � days afcer the execution of this Security Instcument(or within sixry days of a later sale or transfer of the Property) � � . „
<br /> ' . and shail contiaue to occupy the Properry as Borrower's principal residence for at teast one year after the date of ,�,+
<br /> � occupancy, unt�ss Lender determines that requirement will cause undae hardship for Bonower.or unless extennadng , .
<br /> �- .. circumstances exist wluch are beyond Borrowe�s control. Boaower shall notify Lender of any extenuating � • � .
<br /> ' . circumstances.Borrower shall not commit waste or destroy.damage or substantially change the Property or allow the . � `
<br />_•.}. -, • .. . •�..' .
<br /> � Froperry to deteriorate,reasonable wear aad tear eacepted.l.ender may inspect the Property if the Property is vacant . .
<br /> . � or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve such vacant or
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