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<br /> ; 97� 1�6�s ! . � . " . :.�_
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<br /> �f j If the amounu held by L.ender for Escrow Items exceed the amounts perraitted to be held by RFSPA, Lender ( . �. ' ..
<br /> shall account to Barrower for the exce.ss funds as required by RESPA. If the amounts of funds held by Lender u any t . ' -
<br /> time is not sufficient to pay the Escrow items when due. Lxnder may notity the Borrower and require Borrower to � . _ �"
<br /> make up the shorta�e as permitted by RESPA. � ' - •
<br /> The Fscrow Fuuds are pledged as addidonal security for all sums secured by th'ss Security Instrument. If �. .. - �-`
<br /> - Borrower tenders to LPnder rhe fi�ll payment of all such sums,Bormwer's accoun[shall be credited with the balance i. . _�,.,, :___,`,�_._
<br /> ' remaining for all installment items(a�. (b),and(c)aud any mortgage insarance gremium installm�nt that Lender has ! � . .. � - ,
<br /> not become obligated to gay to the Secretary, and Lender shall prompfly refund any excess funds to Borrower. ;� . '. , -
<br /> Immediuely prior to a foreclosure sale of the Propeny or its acquisition by Lender. Borrower's accaunt shall be � -. '�: `` �'-'
<br /> t credited with any balance*�na;n;ng for all installments for items(a),(b).and(c)• � ��: .".:-�-'
<br /> 3.Appllcatdon of Payments.All paymenu under paragcaphs 1 and 2 shall be applied by Lender as follows: ;�;,�.
<br /> � First.to the mortgage insurance premiwn to be paid by Lender to the Secretary or to the monthly chuge by the � ; �'----�
<br />• Secretary instead of the monthly martgage insurance premium; K,�-'-L.
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<br /> Second•to any taxes,special assessments,leasehold payments or ground rents,and fire,flood and other ha7ard . .�,�" "'�_
<br /> � . insurance premiums,as required; , _ -' �
<br /> Third,to interest due under the Note; • �,.•�. :?�`�'-.
<br /> Founh•to aznortization of the principal of the Note;and ` -
<br /> F�.�t,to late charges due under the Note. � `
<br /> .... 4.Fire,Flood and Other Hnr�rd Iasur�uce.Borrower shall insure all improvemeuts on the Propsrry, whether •
<br /> u
<br /> • now in existence or subsequendy erected,against any ha7arcJs,casualties,and contingencies, including fire,for which , �t��'`� ;
<br /> , ; I.ender requires incnranCC. TlIIS ;��,*ance shall be maintained in the amounts and for the periods that Leader ,.�: . . .���7 ,
<br /> � ires. Borrower shal! also insure all im rovements on the em, whether now in existence �+r subs entl � ' 1 ` ''.��,�'" �. ""
<br /> �N P �P �N Y f.. . ,A. ..,.i���,`.:,.:
<br /> erected,against loss by floods to the eMent mquired by the Secretary. :�11 insurance shali be carri�Rith companies , , + >'� :,`; � _
<br /> �. ap�roved by Lender.The insurance policies and any renewals shall bc held by L,ender and shall include loss payaSle �,-`'"•+'�• ,
<br /> . clauses in favor of.and in a form acceptable to,Lender. . �;
<br /> � - In the event of loss,Borrower shall give Lender immrdiate notice by mail.Lend��ay make proof of loss if not • ' � '
<br /> made prompdy by Borrower.Each in��*ance company concemed is hereby authorized and directed to make payment .. ' �:
<br /> � for such loss directly ta Lender. instead of to Boaower and to I.ender jointly. All or any part of the insarance .. .�� �;` �
<br /> � proceeds may be applied by Lender.at iu option,either(a)to the reduction of the indebtedness under the Note and . •. . �`; _
<br /> ' this Security Insuument,first to any delinquent amounts applied in the order in paragraph 3,and then to prepayment . .'•>4u���
<br /> of principal, or (b) to the restoration or repair of the damaged Properry. Any applicadon of the proceeds to the �:�;�:. �"'�-
<br />' priacipal shall not extend or postpone the due date of the monthly payments which are referred to iu paragraph 2,or .. :"..,� -=�---
<br /> .. change the amount of such payments. Any excess insurance proceeds over aa amount required to pay all outstanding . s, . `���_���.-_
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<br /> . indebtedness under the Note and this Security Inst:umeat shall be paid to the entity legally entitled thereto. � , �'"'=-
<br /> Ln the event of foreclosure of this Secvrity Insuument or other transfer of tide to the Property that extinguisy� •'�:�;�;,',1°��`
<br /> '• the indebiedness, all right, tide and interest of Borrower in and to insurance policies in fo�e shall pass to the _ _ r_ �_
<br /> �j purchaser. . ... =:��-_
<br /> 5.Occapancy,Preservation,Ms�intenance and Proterdon of the Property;Borrower's Loan Applicatton; -�:'`��-
<br />. .�. � I.easc6olds. Bonower shall o P�Y ' P P �Y ;-'�� -T�� �:
<br /> ecapy, establish,and use the Pro as Borrower s rinci al residence within si � _�'����'�-
<br /> � days after the execuaon of this Security Insttument (or within sixty days of a later sale or transfer of the Property) �� ,,%�-u� �l''�� �
<br /> and shall conanue to occupy t�e Properry as Borrower's principal residence for at least one year after the date of � �°;;;�'y�,.+-.,, < ..
<br /> occupancy.unless Lender determines that rea��airement will cause undue hards3up for Borrower,or c�'ess eatenuating � ;ti�'��;;�;.�:
<br /> cirwmstances exist w6ich are beyond B�orrower's conuol. Borrower shall notify I.ender of �ay eatenuating • � . �:� :•'�t'�:—
<br /> circuuistances.Boaower shall not commit waste or desnoy,damage or substantially change the Properry or allow[he . . ' � ' �
<br /> • Property to deteriorate,reaso�:Y wear and tear exceptec4. Lender may inspect the Property if ths�roperty is var,ant . � "''''a"'' -
<br /> o;abandoned or the loan is in default. Lender may take reasonable aaion to protect and preserve such vacant or � �J�-�`��._°
<br /> ��R{I�EI 196041 Page 3 of B mroaU:T/w/(1- � : • , _.
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