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<br /> ` . ertiount not to eacee�e rt� �4�'i,`�. .
<br /> . .� Lender may.at e►�y t�e. eo�ct e�d hotd amounts tor Escrow ►iems h en a99�8 ` : •� - . ,
<br /> amount thst may be raquQed for 8ortow e rs escrow e c c o u n t u n d e r t h s R e a l E s t a t e S e t ttement Proc�uras Act ot 1974, 12 US.C. {` . .,. ;
<br /> §2601 e3�,and�P�mentU+g reSulatlons.24 CFA Part 3500.as they maY be emended tmm time to tirtse('iiESPA�1.mceePt
<br /> •..`«< ` r tese�va ertn$ted by EtEs`�A for unertticipatad d'isbursBmeMS ar d�sbwsemenls betore the Borrowers �c . ,.. •• „ '
<br /> • that the custiwn o P insurance Premlum.
<br /> �: ,
<br /> ' paym�nts are evaifabie in tAe account may not be based on amounts due tor the moRgage . , ,�
<br /> ` It the emounis hetd by Lender tor Escrow Itert►s eweeeA th9 amouMS perm''�ed to be heid by FtESPA. Lender sha�account ,
<br /> � to Bortowar tot the�cess fimds es r�'�ed by�A'�t Me amounts of tunds hetd by L�der at any ttme are nat Sutficle�t to � �-.
<br /> .' . .�� pay the Escrow ttems wAen dua,Lendar may notify the Borrower and reR�tre Bortower to make up the sborta88 as Permitted bY ,. • ..;•..
<br /> ' • '1 RESPA
<br /> , �`.1 7t�e Escrow Ponds are P�eQ9��add�TOn81 securRY for all sums secured by this Sewr�Y fnsGUment it Borrower teeders
<br /> o!at�such sums, 6ortowers account sheil be credted wnh the batance remau►in9 tor ali installme�►t _ - F
<br /> - ; --'`� to Lend� ti�e futl pay+nent -i-.
<br /> . . � rtems (a1. tb). and (e) and any mortgage insurance premvm instaltrnent that Lender has not Decome obt'gated to PaY to tlte
<br /> �.� ` • S�c�etary.and Lender sha�Promptly cetund anY excess tu^ds to Bortower.lmmediateN D�or to a foreetosure sale af the PcopeRY 4.,
<br /> . � �� , z. , ..
<br /> cr its acquisdion by Lender, Bonowers account shaU be credited with any batance�ert�a��9 tor afl insta�ments tor�ems(81�roL
<br />- , ' ano(c)• � �
<br /> " . �- ' 3.App1�C8tIOQ 0}E�811tii@I118.All PaY�"ents under Per89�Pfis 1 end 2 shall be ePP�bY L9nQer eS to11ow5: . ' ``, '� ,
<br />'�Y � � �ii8t,to Me mortgage insurance Premium to be Paid bY LenQer to the Sec�etarY or to the monthty charge tiy the SecretarY ,,.'.4. ..�'..
<br /> mstead of the monthty mortgage insurance premtum: , • . ' �r,�.
<br /> ` ,. Second. to any texes+ sPe�i assessments. Ieaseho(d payments or ground rents. end fue. flood and other hetard , ; _` -f.r'_: rri.
<br /> . ' ,� msurance premiums.es�uaeC: �t.. . 's..��:?�
<br /> � � . 'ibird,to interest due under the Note;
<br /> r•�' ,. FOtQth�to amortimtion of the pfmciga�ot the Note:and � _
<br /> � Fifth,to tate charges due under the Note. -`���
<br /> � ` � 4. Pire, Flood and Other Mamrd lnsurance. Boaower 5ha0 msure a0 improvements on the ProPertN. whetAer ;.-;�.��
<br />`� , � .; --:` 'i now in existence or subse4uenUy erected. agetnst any he:ards.casuafttes,and contingencies.incWdfng fire.for wh6ch Lender ..:(:..:�.. .:s__--
<br /> � . -,�,:_f . --=_,:.�'�',
<br /> cequces insurt�ee.This bsutaace shaU be maintafned in the smounts and for the periods that Lender� o��odset0 the ;-.:�,�,r '�
<br /> also nsure ail improvemenis on the PropertY.whether now in existence or subsequ�ttY erected, again _
<br /> j.` ; ' extent requf[ed by the SeCretery.A�insutance shail be cerried wdh cortiQanles eDDroved by Lender.The msucance polides and . `�-
<br /> le clauses in favor ot.end in a tcrm acceptabie to,�ender. ' �� �
<br /> ,=,- . . . ' any rertevva�shatl be held by Lender end shail IncMde toss PaU� _ • ...�,�_'_'-
<br /> k. . .,�A�;y,�._-
<br /> in the event of toss, BoROwer shatl give Lender bnmediate natice by ma�. 1.ender may make proof of toss N not made . r;
<br /> ���• promptly by Bortower.Each (ns��ae company concemed is hereby authodaed end dtrected to malce payment fot such toss .F ,�, I'�::
<br /> eR of the insurence proceeds maY be ePpited by
<br /> ' r�:
<br /> � d'aecty to Lender,instea0 ot to Bortower end to Lender Jotntry.AU or any p • ,
<br /> ,�, t���;`.
<br />`�� , LenCer. at its option. either (a)to the reduction ot the u�debtedness under the Note anA this Security tnsbvmen�flrst to any . �.
<br /> �' ' detinquent amnunts ap0�in the order tn ParagraDh 3,and t�en to prepayment of prmcipal,or(b)to the restaration or repetr ot �;,..`,•,:•:•-t•.�R,
<br /> :r,
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<br /> � � the damage8 Property. �Y aPp��tion of tne proceeds to the prtnciDal shall not extend or postpone the due Qate of the ,� .•.
<br /> - '._, monthty paYments which are referred to in Paragraph 2, or change the amount of such payments.tnMwy wcc ghaU b9 pa d ` •� �'`��'
<br /> proceeds over an amount required to pay a11 outstar►Q�n9 8ndebtedness under ttie Note and th(s SeCUriry ,,. •�;,��
<br /> ��..' � ; entitted thereto. ��:�^��.�
<br /> . . .. ,..-:-:= t0 tne BfN��9�N :.,,,,�. .
<br /> � in the event of forectosure orf�t=o!Bortcwer tin e�i�d to insurance pc���r�fot�gh�D� o t e pufChas�er.��hes th8 ' ,_.�
<br /> .�'.��'_
<br /> � i n d e b t e d n e s s.8 1 1 r i g h t,U 1 t e e n d i n t e �� �� ����
<br /> ' ' S. Occupancy, Preservatlon, Maintenance and PiroBectton of the �operty; �orrowePs L oan .,.:.�;� _
<br /> '' ` ',�"y Applica4tom, L@880hO1d8. Bortower shan occupy,estab�ish. aed use tfie PropeRy as Borrowefs principal residence witnin �_:"";�;
<br /> � sary days after the wceCUtion o1 this Security InsUUment(or within sixiy Oays ot a latet eale or Vanster of the PropeRy)Aaa ShaU ::�,__
<br /> �� � • ' conW►ue to aCCUpy the PropeRy es Bo�'owefs p�NCtpai res�QenCe to► at least ane year after the date of occupancy, un(ess .�;
<br /> ' � � Lender determtnes thet requhement will cause undue hardship for Borrower,or uniess extenuating CirCUmstanCes exfst wtiicb 8re �.�::
<br /> beyond Borrowers conVOl. Bonower shall notiryi Lender ot any extenuatfng cpcumstenoes• BoROwer shatl not comm$waste or : �
<br /> � desuoy, demage or substantialy change the PropeRy or aliow the Property to deteriorete. reasonabte wear end tear excep t e d. . ° -_^•-
<br /> " � Lender may fispect the Property N the Property is vacant or eDandoned or the tose is in defaul4 Lender may take reesanab� _ . _`^4
<br /> .��'. � action to protect and preserve such vacant or abandoned Property.8orrower shall aiso be fn defauR 8 BoROwer,durfig the loan ,,
<br /> , I � applicaUon process, gave materfatty fatss ar inaccurate intortnation or statements to LenQer(or iailed to pro�ide lender w'dh any
<br /> m a t e r l a l I n t o rt n a t i o n) In connectian witb the loan ev(denceA by the Note. inciuding,but not fimi[eA to,representatlons conceming .�:�
<br /> �•�. ' ' 8ortawers occupancy of ttie Property es a prtnCfpal residence. II this S eeur i t�r In s t r u m e n t i s o n 8 l e a s e h o t d, B a rt o w er shall . , .
<br /> • compry wfth the provislons of the lease. N Borrower aoqutres(ee titte to the Property,the teasehotd and tes title s�ell not be
<br /> � _ merged untess Lender egrees to the merger in writing. :
<br /> �� 6. CORd@tI1f18UOTe.The proceeds of anY award or claim for damages, direct or consequential, in connectian with any . , . .
<br /> '�''• ' eondemnation or other taking of any paA ot the Property, ar lar conveyance in p�ace o1 condemnation,are hereby assigned and
<br /> """- ' shall 6e paid to LendOr to the extent of the tuil amount ot the indebiedness that remains unpaid under the Nate and tAis -
<br /> •. � Security Insuument. lender shall apply such proceeds to the reductlon of th0 inQebtedness under the Note and this SeCU;iry
<br /> ' : i Inswment, tast to any delinquent amounts apD��d � the arder provided in ParagrapA 3, end then to prepayment ot prtnC(pai.
<br /> f any application ot the proceeds to the princ�pal shall not extend or postpone the Que date o}t�e monthry payments,whkh are
<br /> ' � � � reterred to in Para9reDh 2, or change the amount of Such payments. AnY excess proceeds over en amouM requUed to paY a0
<br /> • • ' � outstanding indebtedness under the Note and thls Security InsWmenl shall be pald to the entiry Iege�iy entilled theteto.
<br /> � � i 7. Chtuge� to �orrower anA Protecuon of Lender's Rtghte In the Property. Bortower shall pay a0 �
<br /> govemmentai or mun�ipal charges, fines and impositions that are not includeG in Peragr8ph 2• Borrower Shell pey tnese . ,
<br /> � abligations an Yune d�recty to the entity whbh Is owed tho payment. 1f failure to pay woutd adverseN eHect Lendefs interest In
<br /> .���' � th0 PropeRy,upon Lenders request Borrower shaU prompt►Y tumtsh to lender rec8ipts evidenCin9 these peyments. , •
<br /> i-...
<br /> It Borcower laits to make these payments or the payments re4uUed by Peregraph 2, Ot fails to peAOrm anY other cOVenants
<br /> :,•���� and agreements contahed in this Security Instrument,or there is a legal proceed�ng that may signilicantly ettect Lender's rights�n .
<br /> ��": • � tn e Pro pe rt y (such es a proceeding�n bankruptcy.lor condemnaUOn or to enlorce laws or regutat�onsi,then Lender may do and .
<br /> ' . �I pay whatever �s necessary to proteCt the vatue ot the Property and Lenders rights in t he Pro p e rty. i n c t u d i n g p a y m ent of taxes,
<br /> � � hazard mswanCe and other items mentioned in Paragraph 2.
<br /> � �
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