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<br />- . � -�� Lsnder mgy.et any time�CaBect and hotd amounts tor Escrow items tn ae eSgregate ema�"t no!to exceed the m�cfmum L-� ,_�. .
<br />_ . , amount that may be�utred for Borrowers estxoH►arxouat und�the Reat Estate Ssttlement Proced�ues Act ot 1974. 12 US.C. _', 4.";.'�. f,
<br /> xa ► pp�
<br /> . � . §260t gi ggg end implemenUn9 cegutaiEOns. 2A CFR Part 3500.as tAef�may be amendad Uom Nme to Ume PRESPA').exceP1:� ' ., F.; .'
<br /> • . , ., that Me cushiort or resenre Pertn�ted by RESPA tar unaitic�ated disbursements or dlsbursements trefore the Bortawers�e�
<br /> • :.P, . ' pay�a�e avai�b�B��8 a�►n!may rtot be 4ased on amourrts due tot the mortgags insurance p�►am " ;`�.«
<br /> If ffie emounts held bY�d�for Escrow ItemS�reeed the emounts permdted to be held by FtESPA.LenCer shad aecoun� . .,, i 4,c`�'
<br /> . ta Boaower tor th6 excess tunds es requced bY RES�A tf the emounts of tunds Aet�by Lender at any ti me are n at sutfie�nt to P� • ,:,y �.
<br /> F � "' p8y the Escrow Items when Que.lender maY notiry tAe BoROwar and cequi�e Borrower to make up the shortage as pemu�ted by� . �
<br /> .. . RESPA. ,' ' � �
<br /> ' �;�. •. , ,_, The Escrow Funds ere D�d as aQdittonal seeurily (or eU aums 58CUred by this S9curitY tnsUumm►t!t 8ortower ten , `-.Y ,�` '
<br /> ' , �; t,�--�: � ta Lender the tu0 paymant ot aU such sums, Borrawera aaount sha0 be credited wfth the baiance remainin9 tor all instaitrrten
<br /> : ', � _,. � items (a), (b), and (o) and eny mortgage insurane9 premh�m I ns t e i h n e n t t ha t L e n d e r h 8.s n o t C e c a m e o b�l g a t e d t o p a y to the `
<br /> �r�sta�y.and lenQet sha0 prampty�etund any exeess 1undS W Borrawet.Immediat8ry P�or to e torectosure sat9 of the ProAertY __ --
<br /> , - , or ds aequisalon 4Y�n�•Bortowefs eccount shai!09 cred3ed wRA any batanee remain�ng ter a0 Ustaltrnerns tor►tems(s}.(b). �.t: `
<br /> � � � and(c� �
<br />- ' . ' 3.AP�II4�1011 Of PByllt@itt8.AO payments under Para�ephs 1 8nd 2 shaU be aPP�ed by Lender es foIlows: � .. „ <<. ,
<br />: ,`-�r,�� F k 8 t,t o t h s m o rt g a g e N s u r a n c e p r e m4im to be Oat�by Lender to the SeeratarY er to the monthry charge by the SeaetmY .:� ,4,� � ^
<br /> . •` � instead ot the monthry mortgage insurartce premium: -_ .
<br /> ' - SeCOtid, to any texes. speclal assessments. teasehotd payments or ground rents. and fae. ftoad end other haiard .- �`'_._.--.--.
<br /> , u�surance premiums.as raqurced: ."` `��Y
<br /> .s:
<br /> � y • . ` , Th11d�to interest Que urtder the NOte; ' ,—
<br /> • � Fp1lf1F1�to amoRaaUon ot the principal of Ne Note:and
<br /> - , '`•4. Fitth.to tate cnar9es due under tne Nata - -
<br /> � 4. Fi�e, Flood and Other Harerd Insurance. earm�rre►shan a�s�re ao rmvrwemen�s on me Proverty, whether -
<br /> � ` ' now tn mdstence or subsequenty erecteQ agatnst aey harards.casusRies+ and co�rttngeecies. Inctudtng f¢e,for vfiteh Lsnder �:.,�U.. :,
<br /> �� requires insurance.Thts Insurance shaU be ma�tained fn the amaunts and tor the perioQs that LenQer raqulres. Borrower shaA �,.�'`,—�
<br />_ ... . . :-=` atso msure sU 6nprovements an the PropaRy,whether now In existertae ar subsequ�tg►er�teQ a9atnst ioss by iloods to the �,. _ Y=--
<br />. ' � • , •��� extent required by the Seccet8ry.AO insurance shatl be cartted wlth companies approved by Lender.The c�surance poUctes er►A . • �����
<br /> � � � any renewais sbau be held by Lender an0 shaU incfude toss payabie clsuses�favor of,and in a tortn acceptabte m.LenQer• T..'-�pC'�;-s;^
<br />� � In the event of loss. Borrower shau gtve Lender immediate noUce by mail. Lender may make praof of toss ff not made �,�,_`.:";,��_
<br />,••�•- - - ��° - promptty by Boaower.Each �surance companY concemed is hereby autt�occad and directed to make payment tor SucA lOSS Y;,�rx�'
<br /> directry to Lender, irtste3d of to Borrower snd to Lendet jointiy.All ot er�y Qart of the insutenCe prOCeeds mSy 08 8pplied Dy �, �,._��.V.
<br />" - ° ' ' Lender,at its o�stion,either(a) to the reduction of the indebtedness under the Note and this Secur�y Instrument, first W any ^.-_—�°�
<br /> • ' � deiinquent amourrts appGed in the order in Peragreph 3,and then to prepayment ot prficiDa�.oi(6)to the restoraUon at repab'of .•- ,��_
<br /> . : the dama8ed ProPertY• MY aPD�Uoc►of ths proeeeds to the O�cipal shaU not maend or postporre the due date of the ':' .$s_�___
<br /> " •;•� manthy payrments which are referted to tn Panagraph 2, or change Ne emount ot such payments. Any excess insu�anee �- _------
<br />- r. � _� . ,� . proceeds aver an amaun!required to pay all outstanEfig indehteQness under the Note and this Secur�TH InsGUment shail he Paid ..;::r�__
<br />- to the entny Ieg�IN entitted thereto. '��'�^
<br /> _,e-.—
<br /> � tn the evant of toreciosure o} this Securfty Insuument or ot�er tr8nsfer of tIIie to the ProFertY tAat extinS�ishes the i �_
<br /> __ ._.,....;;:_ .,:' mdebtedness,ali rtght,Utte and tnterest ot Borcower in and to tnsurance poiicies in farce shaD pass to!he purchaser. . :•, ���_;=
<br /> � • 5. Occ�epancy� Pr�servatton� Maintenance end Rrotec4ton ot the Properly; Borrower's Loan �.��_-
<br /> - AppliCBtlOn; LeBS@h01d8.8orrower shall occuDlt� estab�isfi,and use the PropertSr es Boaowefs prtnctpal cestQence wlthin -�;,,_
<br /> , `'� s�ty Cays aftar tt+e executton of this Securiry Instrument (or wdAtn 56cty days o}a later sasa or Uansier at the Propectyr)end sAaO ; '��;
<br /> . . ..,,�,q.'._
<br /> ' � continue to occupy the PropeRy as Borrowers prtncipal residence for at t�ast one year after the Oate of occupancy, u�tess , ___.�
<br /> - . LertdBr determines t�et requkoment wiD cause undue hardship tor BoaowBr, ot unless�enuating ctrcumstences ex�t'KhiCh are . . �+�.-'
<br /> , .�.,+� bayond 8ortowers conuol.Boaower shall notJy Lender of any extenuath9 cfr�umstances.Bortower shaU not comrt�3 westa or - � �;�,�.
<br /> •` . desuoy. damags or substantialty cpange the Properly or aIIOw tha PropertY to Qeterlorate, reason�te wear end teer exceptAd. ':�:,�-_�_
<br />- Lender may (nspect the ProPenY���Property Ls vacant or abandoned or tne toan Is In QetauR.Len�er may tatce reasonabte . ,',i�:�
<br />_ . ns
<br /> � � action to protect and preserve such vacent or ahandoned Property.Borro+ver sha0 atso be in default�!Baaower.during ttia tpan ; .:;i:•.
<br /> . � . � appilcatlon process,gave materlalty fatse or inaccurate infarmatlon or statements to Lender(or fatted to provlde LenQar w�h eny . ,::;,�� ,,;W;;;
<br /> ' material inicrtnation)in connection wrtfi tAe toan evidenced Dy the Note,fiCNd�9.but n0!Umhed to,represBntaUons COnCeming ,,.5,;.=��, ,:
<br /> � Borrower9 occuO�aY o1 the Property as a principal res10enca. If this Security Instrument is on a teasehold, Bortower SAe� ° •�
<br /> �, compy with the provisions of the tease. �f 8ortower acquires fee titie t�1he Property, the Ieasehold and fee titt�shell not b0 . : �
<br /> ` merged uniess lsnder agrees to the merger in writing. . ;
<br /> � • 6. Condemnatton. The D►oceeQs ot any award or ctaim tor damages, direct or consequential, �n connecUon with eny �. �
<br /> • condemnatlon or other taking ol any pan nf the Property,or for comreyance h ptace of condemnation,ere hereby sssigned end .
<br /> shall be pald to Lender to the extent of the tull amount ot the inQebtedness that remains unpaid unQer ihe Note an0 thts .
<br /> ' Securiqr Instrument. Lender shell appty suCh proceeAS to the reduction o1 the indebtedness under the Note and this Setur�lyr . . •
<br /> . tnsuument, fusi to eny Qe�inquent emounts apDfied In th9 order provlded �Pa►e9raPh 3,and then to prepayment ot ptinclpaL
<br /> My eppl�at�on o}the proceeds to the principal shaD not exten0 or postpone the due date ot the monthty payments,whlcA ere
<br /> � retert00 to in Peragraph 2 or chartgs the amount o}sueh payments. My excess proceeds over an amount required to pay fltl � , .
<br /> � . outstanding Indebtedness under the Note and this Security Instrumenl sAall Ce paid to the entiry legaltyr entitied thereto.
<br /> . ; 7. Chargea to Borrower and Protection of Lender's Fllgh4s M the Property. Bortowet shaU pay e0 . , . .
<br /> ; govemmental or munlcipal chargos, lines end imAositlons that are not included fn Peta9►ePh 2. Bortower ehell pay these
<br /> � • j obtlgetlons on time direclry to the entiry which is owed the payment. If faiNre to pay woutd&dvorsey aHect Lender's interest M
<br /> t • I the P►operty,upon Lender's request 9orrower sheti promptty lumish to Lender receipts evldencing these payments.
<br /> � { It Borrower faits to make these payments or th9 payments requUed by Parag►aph 2,or fails to pertorm any other coven8n19 •
<br /> ; � and agreements contained u► this Seeurity tnstrument,or thero is A ieg81 proCeeding thet mey SignifiCantty eHeCt LenCer'e rlghts h� ..
<br /> the Property (such es a proceed�ng in bankruptcy,for condemnation or to entorce taws or regulat�ons),tnen Londer may do and
<br />. . ! pay whatever is necessary to protect tne vslue o1 the Propetfy and Lendef9 rights in the Property, b�clud�ng payment ot texes,
<br /> ,` � ! haiard insurance and othar items mentbned o�Peragraph 2. � �
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<br /> • _' . f58t�1�A011/98! P�pe?O�S � . .. �
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