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<br /> . Lender may, at nny tlme, colloct and hold emounts for Escrow Items In an aggregate amount not lo oxcood thu maxlmum z
<br /> amount thnt muy be roqulred lor Borrower's oscrow nccount undor Iho Ronl E�Into 9ottic�munt Procodures Act o1 1D74. 12 U.S.0 ,
<br /> �2601 nt se . and Implementin� rapulatlons, 24 CFR P�rt 3500, as ihoy mny bo nmended trom timn to tlmc ("RESPA"). oxce�l
<br /> thnt tho cushlon or reaervo pormittod by RESPA for unanticlpetad dlabur�emonts or dls6ursemente belore tho E�orrower's
<br /> paymonts are evallable In iho ar.count may not bo basnd on amounis duo for tha mortpago Insuranca premium.
<br /> � If tho nmounts held by Lender lor Escrow Items oxcood tho nmounts pe►milted to be held by RESPA, Lender shall nccount .,
<br /> to Borrower tor the excesa funda ea requlred by RESPA. II the emounto ol lund�hald by Landor nt eny Ilma nro not suttic�ent to
<br /> puy the Escrow Items when dua, Lender may notlfy the Bortower nnd roqulro Bwrawor to make up the shortago ns pnrmiqod by " -
<br /> RESPA. `
<br /> Tho Escrow Funds are pledged as additlonnl security 1or ell aums aecured by Ihls Security Instrumont. I} Borrower tendere
<br /> � � to Lender the fuli payment of all such sums, Borrower's nccount ehall be creQlad wlth the belenco remnining for nll Installment
<br /> � ., Items (a), (b), and (o) and eny mortgngo Insurance premlum Instaliment that Lender has not become obllgated to pay to the -
<br /> Secretary,and Lender shali promptiy retund eny oxcess funds to Bortower.Immedlately prior to a toreclosure sale of tho Property •� _.
<br /> or Its acqulsitlon by Lender. Bonower's account shall bo creditod with nny balance remalning tor all InstallmeNS 1or Ilems (a), (b�, =
<br /> and (c). ---
<br /> 3. Appllaation of Paymsntv.All payments under Paragraphs 1 end 2 shall be applied by Lender es follows: '`==—
<br /> . itiT'-
<br /> Fitet,to the mortgage Insurnnco premlum to be pald by Lender to tha Secretury or to the monthty charge by lhe Secretary -
<br /> Instead of the monthly mortgage Insurance premlum: �,_�;
<br /> � SOCOItd, to any taxes, speclal asse�sments, leasehold payments or ground rents, and ilre,(lood and other hazard __ �
<br /> S insurance premiums,as requlred; •.r
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<br /> ; Third,to fnteresl due under the Note; _
<br /> � Fourth,to amortization of the principal of the Note; and _
<br /> r Flfth,to late charges due under the Note.
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<br /> � � 4. FI►e, Flood a�vd Qther Hazard Insura�ce. Bortower shall hsure all Improvements on the Properry, whether _ .�-
<br /> now In exlstenca or subsequentiy erected, agalnst any hazards, casuaitles, and contingencles, Including iire, for which Lender �'°�`ti _
<br /> fi re ulres Insurance. Thls Insurance shall be maintalned in the amounts and for ihe pe�iods that Lender requlres. Bonower shall =:�. �;
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<br /> also Inaure ell Improvements on the Property, whether now In existence or subsequently erected, agalnst loas by(loods to the ��: y� .
<br /> , �•� . extent requlrnd by tho Secretary. All Insurance shall be cartied with companies epproved by LendPr. The insurance po0cles and "Y�t ,.
<br /> . � any tenewals shall be held by Lender and shail Include loss payable clauses in iavor of, and In a tortn acceptable to, Lender, ',.'�' :�-
<br /> � In tho event of loss, Borrower sheli gfie Lender immedluto notice by rneY. Lender may make prooi oi loss 8 not made
<br /> promptry by Bortower. Eaah Insurence company concemed Is hereby authorized and d'uected to make payment }or such losa 4 c
<br /> ' directty to Lender, Inatead of to Bortower and to Lender Jolntry. NI or eny pert of the Insurance proceeGs may be appued by ;;, —
<br /> � Lender, ot its option, elther (a) tu the reductlon of the Indebtedness under the Note and thls SecuNty Instrument, firet to eny ''� -
<br /> . � delinquent amounts applled In the order In Paragreph 3, and then to prepeymed of pdnclpal,or(b)to the restoration or repalr of • '-
<br /> � the dnmaged Property. Any appllcation of the proceeds to the pdncipal she� not extend or postpone the duo dato of the .°�' ,�
<br /> monthty paymonts which ere referted to In Paregraph 2, or change the amount of such payments. Any excess Insurance
<br /> � .,1_�� proceeds over an amount requlred to pay ail outetanding Indebtedness under ihe Note and this 3ecurity Instrument shall be pald _
<br />-• • to the entity legely entltled lhereto. �� �
<br />- In the event of foreclosure of this Security Instrument or other transter of titie to the Properry that extingulshes the 3�
<br /> � indebtednoss,all right, title and Interest of Borrower In and to Insurance poucles In torce shall pass to the purchaser. -
<br />_ 6. Occupancy� Preservatfon, Maintonance and Protectlon of the Property; Borrower's Loan
<br /> AppllCatlOn; LY886hOlde. Borrower shall occupy, establlsh, and uae the Property es Bortower's prtncipal restdence withtn ����
<br />- "� 't`' " sixty dsys efter the execuUon of thls Securfty Instrument (or within sixty days ol a later sale or trensier of the Property)and ahell _ __
<br />_.;1i:•.- ,_-., . .
<br /> t_,_ ,_.,,,.,� , continue to occupy tho Property as Borrower's prineipal residence for et lea�t one year efter the dete of occupancy, unlese ---
<br />�''�` ^ Lendor detertnlnes that requlrement wlil cause unduv hardship for Bonower, or unless extenuating circumstanr,ea exist whlch aro
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<br /> �. • beyond Bortower's control. 8orrower shall notliy Lender ot any oxtenuating elrcumstencea. Bortower shall not commit waste or ---
<br />.•�' destroy, damage or substantlally change the Property or allow the Property lo detedomte, reasonabl9 wear and tear excepted. __-
<br />_- Landar may InsFoct the Property M the PropeAy is vacant or abandonod or iho loan Is In dofauli. Lender may take reasoneblo �;_;r,o:a�,�ns,��.
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<br />�:=�' aetion to protect and preserve such vacunt or ebendoned Property.BoROwer shaU elso be In default H Bortower,dudng the Ioan �� - �---
<br /> �" `n;: �; applicetlon process, gave matedally felse or inaccurato Iniormation or stetements to Lender (or tailod to provide Lender with any Q�::�.__ _
<br />�"�;,"?;.' �� matertai fntormation) In wnnectlon wRh the loan evldenced by the Note, Inciudng, but not Ilmtied to, representatlons concemin� ['��
<br /> _ . .�..,w.�....�.e..
<br />�r,�`;ti,„;�::" 8orrower's occupancy of the Properly as a pdncipal resldence. If this Secudry Inatrument Is on a leasehold, Borrower shall ��_-_,_
<br />=;�',3� ;� comply with the provislons of the Iease. It Borrower acqulres fee tltie to the Property, the lexsehold end 1Qe titla shaif not be �-����__
<br /> � e��_W�-:.:-.
<br /> morged untesa Lender agrees to the mergor In wdting. �•j.
<br /> � c G. Cor+demnation. The procQeds of any award or cialm for damages, direct or consequentlal, (n connection with any w� ^�'�.^
<br /> condemnatlon or other taking of any part of the Property, or for conveyance In place ot condemnatlon,are hereby¢ssigned and ' �"'��'
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<br /> � �� shall be pald to Lender to ihe extent of the full emount of the Indebtedness that remalns unpald under the Note and thls .�-,.�•-.�, -
<br /> � •'�':-':�t, "
<br />_ Securtty Instrument. Lender shalt apply such proceeds to the reduction of the indebtedness under the Note and t�ds Securtty ;���,..;;#�;;':
<br /> - Instrument, first to any delinquent amounts apptled In the order provided In Paragraph 3, and then ta prepaymont ot principal. , .. ..%::�y�;;=:�5�
<br /> Any npplicatlon of the proceeds to the principal shall not oxtend or postponethe due date oi the monthly payments, which are • . �
<br /> � refeRed to In Paragraph 2, or change ihe amount ot such puyments. Any excess proceeds over en emount requlred to pey all � ..... .
<br /> ; outstanding Indebtedness under the Note and this Securiiy Instrument shall be paid to the entity legally entitlod thereto. �
<br /> _ � 7. Charges to Borrower and Protection of Lender's R ights In the Property. Borrower shali pny ail
<br /> _.�"._,.: . __,_ ""___'_'_� _' _...�w....� ..tie...e. p...,e e..d I.......elfl..ne e6nf om nnt I..�iduil In Pn�nwnnA 9 (inr►nuins ohull nnu tMnm
<br /> _-_-. ___ _._ _.__. yVVa�nnmrta� v� u�u.nv.r.a�. ..�....y.... ........ ...... _..r,............. ...�. _._ .._. ..'_..___ ... ._._�.Y.. _. __.._.._. _.._.. �._� ...__' -_-_ _ ____._-.__-.__.
<br /> � obligations on time directly to the entity whlch Is owed tho peyment. Ii Ialiuro to pay would adversely effect Lender's Interest In .
<br /> the Property, upon Lender's request Borrowctr shall promptly fumfsh to Lender�ecelpts evldencing these pay�nents. •
<br /> If Bortower teUs to mako these payments or the pAyments requfred by Peragreph 2,or talls to pedortn any other covenants
<br /> . � nnd agreements contalned In thls Security Instrument, or there Is a legal proceeding that mny slgnificunUy etioct Lender's rlghts m
<br /> • tho Property (such as e proceeding In bankruptcy, tor condemnatfon or to enface laws or regulatlons).then Lender may do and •
<br /> pay whetovor Is necessury to protect the vuluo ot the Property and Londer's dghts In the Property. Including payment of texes, ��
<br /> � .. hezard Insumnce end other Items mentlonsd M Pnrogruph 2.
<br /> , � .. E901J.LM6(9/9Gl P�ge 2 of 5 ..
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