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<br /> `� If the amounts held by Lender for Escr4w Items eaceed the amounts permit�ed to be held by RESPA, L.ender
<br /> � shall account to Borcower for the eacess funds as required by RESPA. If the aznounts of funds held by l.ender at any
<br /> t time is not suffcient to pay the Escrow Items when due,Lender may notify the Bosrower und tequire IIonower to � ,
<br /> � snake up the shortage as pecmitted by RESPA.
<br /> ` The Escrow Funds are pledged as addition�l securi[y for all sums secured by this Security Instrument. lf � ., :•{�:":;�?-��
<br /> l Borrower tenders to Lender the full payment of all such sums,Bonower's account shall be credited with the balance , _ �""""`
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<br /> � remsining for all installmeat items(a), (b),and(c)and any mortgage insurance premlum installment that Lender hsLS ��i�����-
<br /> � not become obligated to pay to the Secretary, and l.ender shall promptly refund any excess funds to Horrower. �:�a-�----.
<br /> �� Immediately prior to a foreclosure sale of the Property or its acquisition by Leader, Bonower's account shall be 'v`
<br /> crediced with any bAlance remaining for all installments for items(a),(b),and(c). . .-
<br /> ' 3.Appifcatfon oP Payments.All rayments under paragraphs 1 and 2 shall be applied by Lender as follows: •
<br /> i s . to the mortgage insurance premium to be paid by Lender ta the Secretazy or to[he monthly charge by the =
<br /> Secretary instead of the monthly mortgage insurance premium; �`_-_
<br /> ��,to any taxes,special assessments,leasehold payments or ground renis, and fire, flood and other hazard ��•��a.,�•:�
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<br /> insurance premiums.as required; '�`"°�-
<br /> �,to interest due under the Note; �r�'
<br /> �o u c t h,[o amortization af the pdncl pal of the Note;ar►d �� �+ '`
<br /> i�.to late charges due under the Note. �;��, ` .
<br /> 4.Fire,Fload and Other Hazard Insurance.Borrower shall insure all improvements on the Property,whether -,_
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<br /> now in existence or subsequently erected,agaiast any hazards,casualties,and contiugencies,includ{ng fire,for which
<br /> Lender requires insurance. This insurance shall be maintained ia the amounts and for the periods that Lender
<br /> requires. Borrower shall also insure all improvemeats oa the Property, whether uow in existence or subsequen[Iy - � -
<br /> erected,against loss by floods to the extent mquired by the Secretary. All insuraace shall be carried with wmpanies `'
<br /> approved by I.eader.The insurance policies and any renewals shall be held by Lender and shall include loss payable �� �
<br /> �. clauses in favor of,and in a form acceptable to,L.ender. :� �_, '",`
<br />- In the event of loss,Borrower shall give Lender i�mediate notice tsy mail. Lender may make proof of loss if not
<br /> made prompdy by Borrower.Each insurance company cancemed is hereby authorized and d'uected to make payment `
<br /> - � for such loss dltectly to L.ender, instead of to Borrower and to Lender jointly. All or any part of the insurance ���
<br /> prooceds may be applir.d by Lender, at its option.either(a) to the reductlott of the indebtedness under the Note and _
<br /> '' this Security Instrument. first to any delinquent amounts epplied in the order in paragraph 3, and then to prcpayment
<br />: . of principal,or(b) ro the resroration or repair of the damaged Properry. My application of the proceeds to the ��
<br /> �, ,; , . , , principal 3he11 nat eatend or postpone the due date of the monthly paym�;nts which are refemed to in pacagraph 2,or ="—
<br /> • % change the amount of such payments. Any excess insurance proceeds over an sunount required to pay all outstanding ��:�-
<br />`a r��° ` ��` indebtcdness under the Note and this Securlty Instrument shall be paid to the entity legally enutled thereto. F�`•�--
<br /> ` " �"' ��'�' In the event of foreclosure of this Securiry Instcument or other transfer of title to the Property that eatingu�ishes �'-'-
<br />_° • � T the indebtedness, all right, titic and interest of Borrower in and to insurancc policies in force shall pass ro the
<br /> ..,,�,s �� pucchaser. _
<br /> � S.C)ccupaucy, Freservutton. NdeWteuance and Pro:...tlan o8 thc�'ro�reciy�; Borco�ser's Loun Ap�!fsatfon; �` -_ —
<br /> " "��,.�� V Lcaseholds, Donower shall occupy, establish, and use the Property as Borrovver's principal resideace within sixty =---=-
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<br /> .:,.,.,:,,,_, days after the execution of this Securiry Instrument(or within sixry days of a later sale or transfer of the Properry) `_u_
<br /> =°. • �'"" " and shall wntinue to occupy the Property as Borrower's principal residence for at least one year after the date of �__�-"'�°'
<br /> - ' - • occupancy,unless Lender determines that requirement will cause undue hazdship for Borrower,ur unlcss extenuating ���°-
<br />- - • •• circun�atances eaist which are beyond Borrower's control. Bonower shall notify I.cader of any extenuating '��,�_ ___
<br /> �' ` circumstunces. Borrower shall not commit waste or destroy. damage or substantially cl�ange the Property or allow the �`�"_'�_--__.__.
<br /> Pruperty to deteriorate, reasonable wear and tear excepted. 1L.ender may inspect the Property if the Properry is vacant ��;;�;�a�,�;,;,•
<br /> or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve such vacant or ._����w"=;
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