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<br /> .. ._ ''. � If tiie amounts held by I.euder for Fscrow Items exoeed the amauncs permitted to be�held tsy�E��'A. Lender .. .•. �.
<br /> ' � f' � shall accovnt to Borrower for the excess fu�ds��1�bY�PA• If the amouau of funds held by I.ender at an}r _ `
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<br /> - -r time are not sufficient to pay the Fscrow Items�hen due, 1.ender snay notify the Borrower and require Borrower to _ _.
<br /> � :`� make up the shortage as permitted by RESPA. : :;..'_
<br /> . • ( The Fscrow Funds are pledged as additional securiry for all sums secured by this Securiry �•,,ent. If �:,,.-• •
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<br /> Borrower tenders to Lender the full payment of all such sums.Bflrrower s account shall be credited with the balauce
<br /> ,:; rr,�aining fot all insiallmeat items(8),(b?,and(c)and anl+martgage insarance premium iastallment that i.ender has � �:-.:
<br /> � ' not beoome obligated to pay to the Secretary, and l.ender shall pmmptly refund any eacess fimds ta Bormwer. � 'r��' y;
<br /> � Immediazely prior to a foreclosure sale of the Property or its acquisition by I.ender, Borrower's axount shall be _'��'u;_
<br /> ' ',`� creciited aritfl any batance remauiing for all instalYmenu for items(a),(b),and(c)• , ``;`.�"'`:�
<br /> hs 1 and 2 shall be apptied by Lsnder as foAows: ���'"'
<br /> ' 3.A►pplEcation of Paymeutg.All payments under paragt'ap :•; '�.��,
<br /> . . , � �rst.to the mortgage ins�ttance premium to be paid by Lender to the Secretai7+or to the montlily charge by ttte .. _---
<br /> � ' : � Secretary inscead of the montiily mortgage iasuiance premium; ;._ . —
<br /> Second•to any ta��es,special assessments,leasehold pay�ents or ground rents,and 6re.flood aad other hazard -
<br /> :'� insarance premiums,as required; . . -
<br /> Third•to interest due under the Note; - _--
<br /> ' - � . Fou w amorti7ation of the principai of the Note;and . ; _°
<br /> "_ - Fifth.to late charges due under the Note. .,`'.—__
<br /> ....s: :
<br /> � 4.Fire.Flaod aad OiHer Hazard Insuranse.Boaower shali insnre aU improvements on the Properry,whether .�;:`�:�,
<br /> � . now ia exis[ence or subsequently erected,aSainsc anY hazards•casualues,and cflntingencies.[ncluding fine.far w6ich ,. ..� _�.y�_
<br /> ' '- I.ender requires inswrance. This insuiance shall be maintained in ihe amounts and for the periads that I.ender ; ,r�%__.,
<br /> °-- ` requires. Borrower shall atso insure all irapravements on the Property, whether now in existence or subsequendY _.,�:. :. �:�..,.'
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<br /> .. erected,against lass by floods to the eatent required by the Seccetary.All insurance shall be carried with comPanies .: .,.-------
<br /> '? '• : _ approved by Lendes.Tbe�n�,*ance 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. y ruof of toss if not � ����
<br /> • ' • • '. Ia the event of loss,Borrowes shall give Lender immediate notice b mail.l.ender may malce p •� ".':�:--.-
<br />- � .r made promptly by Borrower.Fzch insurance compauy wncemed is hereby authorized and dimcted to make payment �.�_� ,.�t.�•�_
<br /> � � for sucb loss directly vn Lender, inscead of to Borrower and to Lender jointly. All or any parc of the insurance � .r fr
<br /> proceeds may be applied by 1.ender.at i�s option,either(a)to[he teducrion of the indebteduess under[he Note and . � :,`}.f�`
<br /> - � tbis Securiry Insmiment,first to any delinGaent amounts appiied in the order in paragraph 3.and then w prepayment , -;,-�_:;
<br /> _ of principal. or (b) to the restoration or repair of the damaged Property. Any application of the praceeds to the .; .4.,�,,.�;-
<br /> . principal shall not eatend or postpone the due date of the monthly payments which are referred to in paragraph 2.or • . ,#;�;!�`
<br /> � � change the amount of such paymenu. My eacess insurance Proceeds over an amount nguired to pay a31 ouu[anding ,.. :.:�•,�;°:-
<br /> � � indebtedness under the Note and this Security Inswment shall be paid to the enrity legally enritled thereto. �:;;�•��.
<br /> ��� ' � ° In the event of foreclosure of this Securiry Instmment or other transfer of title to the Property chat extinSuishes : �'.`:;;�_�;
<br /> � � the indebtedness, all right. tide and interest of Bortower in and to insurance policies in force ahall pass to she ,:.��:
<br /> . . � purchaser. ."�;":
<br /> S. Occopancy,Yreservat[on,Maintenaace aad PtotecUon of We Property;Borrnwer's Loan ApplIcatloa; . w"f:
<br /> Leasehold9. Borrower shall occupy. establisb.and use the Property as Borrower's principal residence within sixty . .
<br /> ' " days after the execution of this Securiry Instrument(or within sixty days of a later sale or transfer of the Property) . ' ,��
<br /> and sha11 continue to occupy the Properry as Boaower's principal residence for at least one year after the date of ..
<br />, : occupancy�wiless Lender determines that requirement a+ill cause undue hardship for Borrower,or unless emenuating .
<br /> . circumstances exist which are beyond Borrower's wntrol. Borrower shall notify I.ender of any extenuating . . � .
<br />� circumstances.Bonower shall not wmmit waste or destroy,damage or substantially cbange ttce Property or allow the .
<br /> . Property to deterionte,reasonable wear and tear excepted.l.cnder may inspect the Property if the Pcoperty is vacant
<br /> • � or abandoned or the loan is in default. Lender may take reasonable attion to protect and presecve sucb vacant or
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