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<br /> ' ' If the amounts hcld by I.ender for Escrow Items excced the amounts rmittcd co be hcld by RESPA,I.c�dcr shall ��4""�
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<br /> � account to Borrower for the excess funds as required by RESPA. If the amounts of fundg held by Lender at any time . �i`,_:
<br /> � are not sufficient to pay the fiscrow Items when due,L.snder may notify the Borrower end require Boaower to make up ,__��
<br /> the shortage as permiued by RESPA. -�•-�-
<br /> �e Escrow Funds are pledged as addidonel securlty for all sums stxured by this Security InstrumenG If Borrower .,�`-_____
<br /> tenders to Lender the full payment of aU such sums.Boaower's account shall be ccedited wtth the balsnce remaining for -- --
<br /> all instaWnent items (a), (b), and (c)and any mortgage insurance premium installment that Lcnder has not bccome ,� ---
<br /> obUgatei!to puy w the Secretary,and Lender shall prompUy refund�ny excess funds w Borrower. Iminediately prior to _ _ _
<br /> • a foreclosure sale of the Property or its acquisition by Lender,Borrower's t�ecount shall be credited wtth eny balance -
<br /> remaining for all instailments for items(a),(b),and(c). _,�;_.
<br /> �' 3.Applic�tlon ot Paymenta.All payments under paragraphs 1 and 2 shall be applied by Lender as follows: =__
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<br /> ` �, to the martgage insurance premium to be pald by Lender to the Secretary or to U�e monthly charge by the -.— ---- -
<br /> Sccretary instead of the monthly mortgage insurance premium; _"
<br /> ��,to uny taxes,spc;cial assessments,leasehold payments or ground rents,and C�re,flood and other ha7ard _�
<br /> insurance premiums,as required;
<br /> �,w interest due under the Notc; R��
<br /> � g�,tn amorpzation of the prL�cipal of the Note;and '��
<br /> gjph�to late charges due under the TVote. - -
<br /> , � 4.Ftre,Flood and Other Hazard Insurence.Borrower shall insure all improvements on the Property,whether �
<br /> now in eaistence or subsequently erected,against any hazards,casualdes,end contingencies,including fire,for which
<br /> Lender requires insunutce.This insurance shall be maintained in the amounts and for the periods that Lender requires.
<br /> Borrower shall also insnre all improvements on the Property,whether now in exlstence or subsequendy erected.agairst
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<br /> loss by floads to the extent required by Ihe secretary.AlI insurence siuill ba u,iiiixi wit���tnpani;,�aFpro��b�I,endrs.
<br /> .. .. " 11ie insurance policies end any renewals shfill be held by L.ender and shall inclade loss payable clauses in favor of,and
<br /> in a fortn accepta�le W,Lender. -
<br />'; � In the event of loss,Borrower shaU givc I.ender immediaus nodce by mail.I.ender may make prc�of of loss if not -
<br /> made promptly by Borrower.Each insivance company concerned is hereby authorized and directed W malce payment for
<br />_. . such loss d'uecdy to L,ender,inswad of to Bocrower nnd to Lender jointly.All or any part of the insurance pmceeds may r �y
<br /> -. bo applied by Lender,at its opdon,either(a) to the reducdon of the indebtcdness under the Note and this Securiry --
<br /> �� • Instrument,first to any delinquent amounts applied in the order in parug�aph 3.and then to prepayment of principal,or _ _ .
<br />- • (b)to ihe mstorndon or repair of the damaged Property.Any applicatian of the pmceeds to the principal shall noi extend �y -
<br />=� . .� or postponc the due date of the monthty payments which are referred to in para�raph 2,or chenge the amount of such
<br />�-�-_.; :. payments. My excess insurance procecds�ver an amount required to pny all outstanding indebtedness under the Note _'''��-"-
<br />=``y'�:;:;` :et, :� and this Security Inswment shall be paid to the endty legally endded thereco. --
<br /> 1�:,�•y:.. .-_.,;:. ' In ihe event of foreclosure of this Securlty Insuument or other transfcr of dtle to ihe Property that extinguishes the � ,_
<br /> _-- -'�,�. indebtedness,all right,title end intecest of Borrower in an�i to insurnnce pollcies In force sl�all pass to the purcheser. �=.
<br />� '•��` 5.OccupAncy�Prese�vANon,Maintenance and Protcction of the Property; Borrower's Loan Applkatton; �',
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<br />.�,�,;;,.�,.�,' l,ease6olda. Borrower shall occupy,establish,and use tha Propeaty as Borrower's principal residence wiQhin si�cty days �.:
<br /> - : ^ after Ihe execution of thia Se�urIry Insuumcnt(or wid�in skry days of a later sale or iransfer of the Property)and shall
<br /> S �� `�� � mn4inue tn occupy ihc Propcaty as Borrowei's principal residei�ce for at leesi ane yc:at after thC dat�of occupsncy, � - - __
<br /> � -: � wless I.ender dete�mines that requim,�nent will cause undue hardship for Barrower,or unless extennating circumstances �
<br /> "°��� � exist which are beyond Borrower's control.Barcower shall notify Lender of any extenuuting circ�unstences.Boirower
<br />- ' shall not commit waste or destroy.damage or su bstana a l ly c hange t he Pro p e r ty or allow the Pro p e rt y to deteriorate, �'�;�;,�
<br /> . '~�,F• reasonabla wear and tear excepted.I.ender may inspect tiie Property if the Property is vacant or abandoned or the loan is '=--==--�-
<br />= in defnult Lender may take reasonable acdon to protect and presen+e such vacant or abAndoned Property. ;�.�,'�"'
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