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<br /> If thc nmounts hcld by�ndsg funds�cquUcd by RE pA lf the amount�s of unde held byEl.ender tnanY dme
<br /> account to Boaowcr tar thc excc
<br /> " ara not sufficlent to pay thc Escrow Items whcn due,I.ender may notify thc Borrower and require Bonower to make up
<br /> thc sho�te�c as pcmuued by RBSPA.
<br /> The Escrow Funds ara pledged as addidonal securitY tor all sums secured bY this cecurity Instrumen� IF Boaower
<br /> tenders to I.cnder the f�ull PaYroe�nd() �►d anY o BeBe 4insuran�Premlum Insrtallment that Lcnd r hasenot�becom�e :
<br /> � al� installmant itesr►s c), ro) ��:`r����' =
<br /> obligated m PaY a tt►e Secretary,and Lender shall promp�y refund any excess funds to Ao�roww. Immediately prior to _'���
<br /> a foreelosure sale of ihe Proparcy or its acquisidon Uy Lender,Borrower's eccount shall be credited with any baler►ce _;:_,__
<br /> remaining for sU instellments far items(a),(b).and(�)• g�by�nder as follov�s: • ..�;���
<br /> .. 3.Appllcxdon of PAyments.All payments under parnBraPhs 1 and 2 shall be app =---
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<br /> g�,to the mortgage insurance Prem�►u�►to he pa�d by Lender to the Secretary or to the monthly charge by e
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<br /> Secretary instead of the monthly mortgage insurance premium; _ __
<br /> ��� ��y�ey, gpccisl assessments,leasehold payments or ground rents,and fire,flond and other hazard -
<br /> utsurance Premiums,as required; e�
<br /> �,co interest due under the Note; �„�
<br /> + �urth,to amord7adon of the principal of the Note;and ' �;,::;',:,;`�:��„
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<br /> �,to lete charges due unde�the Note. t,.:° n�;�: c..�—
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<br /> ,whether ����
<br /> 4.Fire, Floai nnd Other H�rd Insurnnce.Sorrov�'e�Sh�ill insure all�mpr°vements on the Prapecty ��,
<br /> +� now in existence or subsequendY esec��a��st�Y ��'��aes'and�°ntingencies,including fire,for which }�;, `
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<br /> , Lender re9�ires insurance.'It�is insurance shaU be maintained in ihe�w'u►existence or absequent�ly ected gainst ,.�.�
<br /> -� Borcower shall also insure all imProvements on the Property,wheth
<br />---- - - les k�y ftc►ods m the exceut reQuimd bY the Secretary.All insurance shall be carried with companles appmved by Lender. �-„
<br /> f The insurance policies and any Ienewals sha11 ue 6eid'oy i.u�de:att�sha1Z isscZu�e l�ec Fayahle clauses ln favot of.and _
<br /> �Y in a form acceptabk to.I.ender. �.
<br /> . In the event of loss,Borrower shall give L.ender immedlate notice by mail.L.cnder may make proof of lo�u� for � -
<br /> R made promptly by norrower.Each insurence comPanY concemed is hereby authorized an of tho insuranca p�rocads maY � `:
<br /> ° snch loss directlY to L,er►der,instaad of to Bonowet and to Lcndet joindy.All or eny part -
<br /> � b�epPltzd by I,crider.ec it�opdon, ciQkr (e) w the reducdon of thc lndcbtcdness under tho 8�t of�iprincipal�or ;�.
<br /> Ynsuumen�C�rst Lo uny delinqvent amounts applied in the order in parap,�aph:�,end Ihcn t� qreP Y
<br /> (b)eo the restoretton or repair of tho dartui8ed ProPertY•�Y�PP�on of tho procxds W ttia princfpal ahall not oxtend
<br /> . � � or postpone tho duo data of the monthlY PaY��N'h� �a�f��10 in paragreph 2,or chango tha emount ot nuch
<br /> - ,• PaYments.My eacess insuranco procoeda ovu an amount requi��ed w pay�Il outstanding inde�YCdness under tho Noto
<br /> ' - end th�SxuritY Instnimcnt shall ba paid to�he cr�dty kgally endtlod thcrew.
<br /> , .,. In the avent of foroclosure of this Sxur►ry Instruman a other transfu of dtb w thc Pmperty�hat eatinguishcs the ��
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<br /> - ° '.,- , indebtcdness.eli right,dtle end interest of Barowu in and to insuranca policies in force shall pass w tho purchaser.
<br /> . . "'^-.,• .,".' • Preservation�Matntenrnce�tnd Protection ot tbe Property; Borrower's Loan Applkatbn;
<br />- - � S. Occupancy,
<br /> . ._ LeasehcAds. Borrower shall occupy.establish,and use ihe Property es Borrower's principai rcsidence wtthin sixty days _
<br /> ' afur 1he execudon of this Securlty Instrument(or within suty daYs of a later sale or txansfer of the Propercy)end shall
<br /> . � . �n����upy �ho prop�zty as Borrowu's principal residence for at least onc year sitler the dato of occupancY. -
<br /> unless Leader detem►ines thai ie9�im����'"���uncie�e ttisrdship far Bocro�ver,or unless extenuatin6 circumstnnces �.� _ �
<br /> _W ••� exist wbich ate beyond Boaower's wntrol.BoYrower shall notify Lender of any extennating citcumstances.Boctowei
<br /> �• � ,`;�� e or substantizally change the Proputy ar allow Ihe Prope,�ty to decaiotate, _
<br /> •• .• -' s h a ll n o t c o m m i t w a s t a o r d e suo y. dama 8 ��g��������v a c a n t o r a b a n d o n e d o r t h o l o an i s
<br /> y.",'.�.;:_Y° � reasonable wear and teac excepud.Lender maY inspcx --- -----
<br /> _ � -� in default Lender muy take re3sonable acti�on W protect and presesve such ve�cai►t or abandoned ProlxrtY•
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