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<br /> If the amounts held by Lender for Escrow Items exceed the amounis permitted to be held�y RESPA,Lender shall
<br /> accouret to Bosrower for ihe excess funds as required by RESPA. If the amounts of funds held by Lender nt any dme
<br /> '��, aze not sufficient to pay the Escrow Items when duc,Lender may nodfy the Borrawer and require Borrower to mnke up -
<br /> the shortage as pertnitted by RESPA. ,�_
<br /> The Escrow Funds ere pledged as addidonal secur�ty for ell sums secumd by this Seciuity Insuumen� If Borrower ;;°'
<br /> t�nders to Lcnder the full payment of all such sums.Borrower's accaunt shall bc cmdiuA with the balance remAining for __
<br /> all installment items (a), (b).and (c)end eny mortgage insurance premium Installment that Lender has not become E;��
<br /> obli ated to pay w the Secre prom d refund en excess funds w Borrower. Immediutel rior to �'
<br /> g tary.and Lendu shall p y y Y P
<br /> a foreclosure sale of the Property or its acquisidon by Lender,Borrower's account shall be credited with eny balnnce �,_
<br /> � � remaining for all insteWnents for items(a),@),and(c).
<br /> � 3.Application of Payments.All payments undu paragraphs 1 and 2 sha11 be applicd by Lender as follows: �.'�
<br /> � �,to the mongage insurance premium to be paid by I.ender to the Secretary or to tpte monthly cherge by the -
<br /> ' Secretary instead of the rnonthly mortqage�nsurance premlum;
<br /> • $�, to any texes,special assessmPnts,leasehold payments or ground rents,end Cu�e,flood and othu hs�zard ��
<br /> � insurance premiums.as required; ��``'
<br /> �,to interest dne under the Note; !s y
<br /> � � �y�,to emordzadon of Yhu principal of the Note;and
<br /> " ' gjQh,to late charges due undes the Note. �
<br /> 4.Fire,Flood and Other Ha�rd Insurancc.BaTrower shaU insure all Improvements on Ihe Property.whether -
<br /> • �� now in eaistence or subse�uendy ereceed,against aay hazards,casualdes,and condngencies,inclu�➢ing fire,for which ~:=,
<br /> � ` Le,nder rcquires insurance.'Ihis insurence shall be maintained in the amounts and for the periods that Lende�requlres. _
<br /> �' , Borrower st�all also insure all improvementa on the Propetty.whether now in e�cistence or subsa1uendy erected,egeinst =
<br /> loss by tlonds to the extent required by tho Secretazy.All insurance shall be carried with companies approvcd by Lender. -
<br /> � - ! 1he insurac►ce poli�ies and any renewals shall be held by Lender anA shall inctutie loss payabie ciauses in iavor of,and �
<br /> • in a form acceptabl�to.Lender.
<br /> In the avent af los.4,Horrower shall give Lender immedjate notice by mail.Lender may make groof of loss if not
<br /> made promptly by Bomnwer.Pach insuraax company concemed is hereby authorized and directed to make payment for
<br /> such loss diroctly to Lender,instead of to Borrower and to Lender joindy.All or�ny part of the insurance proceecls muy
<br /> - be applied by Lender.at its opdon,either(a) to the reclucdon of the indebtedness under the Note end this Security
<br /> . . Instiwnent,fuss w any delnquent amounts applled in the order in paragruph 3,and then to prepayment of principul,or ,=
<br /> . (b)w the nswradon or repair of the damaged Property.AnY BPPlicadon af the proceeds to the principal shaU not eactend ��-
<br /> or postpone the due date of the monthly paymenis which ere referred to in paragraph 2,or change the amount of euch `•'
<br /> , , payments.My excess insurance proceeds over an amount requine�l to pay all outs�nding indebudness under the Note �
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<br /> „ and this Security Instnunent shall be patd to the entity legally entided thereGo. �
<br />_. . . In the event of foreclosure of this Sec�rity Instcument or otha transfer of title to the Property thet exdnguishes the ----
<br /> ._ indcbteMess,all right,tido end interest of Boirower in and to insurance paHcies in force shall pass to the purchaser. �
<br /> �, . -' S.Occnpancy�Preservatb�, Maintenana and Pratection o!We Property; Borrower's Loan Application; `'
<br /> Lcase6olds. Borrower shell occupy,establish,and use the Pmperty as Borrower's principal residu►ce within skty days =-
<br />��' efter the exacudon of this Socurity Instrument(or within slxty days of a later sa�le or transfer of the Pcoperty)and shall �
<br />- _.._•;:,_-_- . continue to occupy the Property as Bomnwes`s principai residence ior si ieast o;�a yrac aiiu �to�;,3f e�,,.^^s.�ar�y, °__
<br /> ` '�"� unkss Lender desesmines th�t requirement will cause undue hacdsdip for Sorrower,or unless eactenuating circumslau�ces =
<br />`�" ' , axist which are beyond Boirower's control. Bormwer stiall notify Lender of pny exten�adng circumstences.Borrower
<br /> -"� shall not commit waste ar destroy.damage or substaatially change the Prope�ty or allow tha Property w deteriorate, "
<br />-'" ••- , reasonablc wear and tear eacepted.Lender may inspect the Property if the Property Ls vacet►t or abandor.ed or the loan is
<br />�°�' �•�° in defanlG L.ender may talce reasonable acdon to protect and preserve such vacant or abandoned Prope�ty.
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