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<br /> � ;` � L Lertder may.at anyr t6ne�cot�ct end hotd emourts for Escrow ftems (n an 8ggregete amount not to�cead the max6num ;.f•``_'. '. `. ;�.-
<br /> .. ' .. �_ amount tnat may Ce requhad tor Borrowefs escraw account nndar Ne Fteal Esmte Settiement Proceduces Act of 1970. t2 US.C. ' -:4 �•`
<br /> �2fi07 g=s,gq,eed UnpTementtn9 regutatiaes.24 CFA Pert 3500.es they may de amended icom t6me to t�ne('F�SPA'.�ePt -� ;`:.;':°
<br /> � that the cushian or teserve p�m�ed by F�SPA tor unantteipated dtsbursemewts or disbursements bsfore ttte Borrovrefs - � `� .<�k
<br /> . . , payments are avaflabia fn the axount may aot b�based on amounta dus for the mor�ag0 Inaurenae pcern4im- c'•. ,<<`° , �
<br /> � ' It the amounts hetd by lsnder for Estxaw Items excead the emounb permRted to be hetd Dy RESPA,Lender Shall aecount � , � , .��;
<br /> . � , ` � t o B o rt o w e r t o r t h e e s c e s s t u n d s a s c e q u 6 ed D y RESPA.If the emounts of tunds hetd by L�d e r at anY t�m e ete no t s u ff r e i e n!W � '_`�`E�: �; �:
<br /> ,� �•:.�::�` pay the Escto�+r�tems whsn due.lender may notJy tfie Bortower and�equ�e Bortower to make up LA0 SRorffige es Detmftted by '
<br /> � . . . aesQa � -
<br /> - „'.�._`� The�serow Funds are pleQgsd as adddionai seeurdy tor a0 sums saeured by this�.wr�y IrtsbumenG If 8orrav+ar tendars � _ .,..:. .• � �r�
<br /> _.._. _ to lender the 1uu payment of all such sums.Bortowers aCCOUnt shaA ae ued3ed w�h the balenee remaining for eU instel5nant �
<br /> — .- —^..`� items (a). (b). end (c)and any mortgage buuranC6 prem�m instaltr�sent that lsnder has not Cecome obIIgated to pay to the � �°'�-<-v`�(f�'—,
<br /> Secretary,end Lendsr shau promptly refund any exeess funds to 8ortower.tmmediatety prtor to a fo�:closure saie of the Property � � �'`;`
<br /> , t.� or as acquis�ton by Lender.Bortowers aeeount shall be eredited w�1h any batanee remetnfig for all tnstallments for Rems(ab(b)� �',r.��.�`r .
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<br />� • , 3.A�[l11q310O O�PByI�it11t8,AO payments under Paragraphs 1 artd 2 S1�aD he apPQed bY�Qef���►vs: ' - � , �. • _
<br /> ' ' ' Fitst,to tAe mortgage§�surance pramium to be paid by Lender to the Secretsry ot to the monthty charge by the 8ecr�ry ' ""�
<br /> , , � mstead of the monthy mortgage inswance premium: . ��r�. '�`
<br />. • �. Secand, to eny taxes, special assessments, teasehold payments or ground rents. end fue�, flood end other hamrd ' �• '��
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<br /> . insucaace premvms.as tequire0: _�° .�
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<br /> � . Thi�d,w�tecest dua under the[�fate; ' -
<br /> � FOUrth,to amort�ton o1 tha princ(pal oi the Rtot�and `,n` _
<br /> �. . . : . . Fifth,to tate charges dua�ander ttie Note. �
<br /> � , 4. Flre. F[OOd end OthE!t llazerd lrtsur8nC6. Botrower sha0 insure aU improvements on the ProPerty, whethe► � ,"',�;,r;'
<br /> ` .• . now in mdsmnce ot subsequenSY ereeted. a8ainst anY �eaHnds. cBSUaRieS. end cantfigeneie9. tnotuding Hre, for whiet�LeRder . � .• ._;.:-:
<br /> requlres insurance. This insurance shall be maintatned(n the amourtts end tar the pertotis Mat LenQer requires. Boirawer ShaD � � �
<br /> � ' atso tnsure aU Improvemenss on the Property,whether now fn e�dstence or subsequendy erecied,agalnst foss 6y ftaods to the _- -
<br /> �, �'� extant reQutred Gy the Secretery.Ail insurance shatl de caMed w9h compantes approvad Dy Lender.The Insurance paUctes end : -�:,�.,:�.==
<br /> � ;. _ _.�:.; eny renewats shall be heid by Lender and sha0 inctude Iass payabta cfauses in lavor ot,and in a form acceptable to.Lender. : _ '_�-
<br /> . � ` In Me event ot toss, Borrower sha0 give Len�er immediate notOce by maA Lender may make proof ot losss H not made --
<br /> ' . ` promptty by Borrower. EacA insuranee company cancemeG is hereby authoraed and directed to meke payment!ot Such foss
<br /> ` ` � Quectiy ta Lender, instead of to Boaower end to Leeder jotnUy.AU w eny paR of the tnsurauee proceeds t+�aY be appAed by . _--
<br /> ' ••' Leader, at Rs opUo�,edher (a)to the reducUon ot the fidebtedness under the Note and this Security Insfrument, ftrst to any ����,;-
<br /> �• deltnquent amounts appi'ied fn the ordet tn Paragraph 3,srtd tl�en to prepayment of princfpal,or(to)to the restoratlon cr iepair ot . ,
<br /> � � tne damaged Property. My appltcaUon of the proceads to the prtnatpal shaA not �dend or postpona the due date of tha . "—"
<br /> � " manthty payments which are wferred to U► Paragraph 2, or change the emount of such payments. Any excess tnsurence . "�'�=;�
<br /> ' � . proceeds over en amount required to pay a11 outstandfig tndebtedness under the Note and th(s Secutfty fnsbument sha0 be paTd ,_:�
<br />_ to the entity legaly entdted thereto. ' , ����
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<br /> . In the event of toreclosure of this SeculRy fnstrument ar other Vansfet of titie to the PrOpeRy that extinguishes the •.— , �. T_�
<br /> • � indebtedness,ail right,tiUe and intetest of BOrrowet in and to InSUrenCe poitotes En force ShaO pass t0 the purCheser. � " "..�:'F•^
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<br /> 5. Occupancy, PreservaUon, Maintenance and Protec4ion vt the Property; Borrowe�'s toan � , : ° _�"_
<br /> . Applicat�on;Leasehotda eorrower snan occuoy.esffiblLSh,end use the PropeRy as Bofrowers prinCtpal residenCe wfthin . ., '�_
<br /> s�ty days 8fter the execuUon of this SecurRy Insbument(nr w�thfn sbctyr days Of a tater sate or Van s f er o f t Ae P r op e rt y)en 8 s l i e U �
<br /> ' conUnue to occupy the Property as Bortowefs princtpal �esidence far at teast one year after the Qate oi occupancy, unles9 • . ,_e,
<br /> : � • . Lender Eeterm(nes that requirement wiU cause undu9 harCshlp for Bortower. or onless wdenuattng cfrccuumstences exist whtch Are �-: -�� ,,�,,,
<br /> � � • . . beyond Borrav�ers controL Bortower sha11 notGyr Lender of arry extenuating chcumstances. Borrower shall not commit waste or - _
<br /> ' � dosVOy, damsga or scb..^�u►thRy change the PropeRy or allow the Property to Qetertorate, reasonab(e wea►and tear mrcepted. �,
<br /> • Lender may tnspect the Property H the Property is vacent or aban0one0 or tt�e loan Is In defauft.Lender may take reasonable . . .
<br /> i aatton to protect and presenre Sucb vacant or abandoned Property.Borrower shell atso be In defauft N Bortower,durtng the toan , .
<br /> � • �' : applicaUon process,gave materialry fatsa or Inaccurate IntormaUon or statements to Lender(or tafted to provide Len4er wfth any � . '
<br /> material infortnatlon)in ca�nnection wfth the toan evidencod by the Nofe,inc(uding, but not limhed to,representaUons concemtng � .
<br /> • � BoROwets occupancy of the Ptoperty as e principal resiQence. It this Security tnstrument ts on a {essehota, BoROwer shaU �� ' '"
<br /> �;; ' compry wfth the provisions o1 the tease. If Borrower BcquUes fee titte to the Property, !he Ieasehold and fee ti�e sha�not be •. •
<br /> ' ` merged uoiess Lender agrees to the merger in wrRing. , . , .
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<br /> �. . � 6. Condemnation. The proceeds o1 any award or ciaim for damage9,direct of consequential, in cannection viftA any . � ••
<br /> .. � ' condamnatlon or other taking of any part ot the Property,or tor comreyance In place of conAemnetlon, are hereby easigned and .. .
<br /> � ' shaH be paid to Lertder to the exteni of the full emount ol the indebtedness that remains unpald under the Note and thfs . ' ' . '
<br /> - . SeCUrity Insuumen4 lender shall appiy suah proceeds to the reductlon of the Indebtedness under the Note and this 8ecurityr . � '
<br /> � � � Inshument, tirst to any del'mquent amounta applied in the order provlded 6n Peragraph 3,and then to prepayment o!prinCipaL , . ' .
<br /> , . Any appACation of !he praceeds to the princlpal shall not extend or postpone the due date of the monthy payments, wh�h are
<br /> � referred to In Paragraph 2, or change the amount of such payments. My excess proCeeds aver an amaunt requUed to pay aU , ,
<br /> . �, outstanding(ndebtedness under the Note antl this Security instn,ment shatl be paid to Ihe entity tegaly entitied thereto. •. ��
<br /> � � • �. Charges to Borrower and Protection ot Lender's Rlght� In the P►operty. 8orrower shali pay all �
<br /> ° � �" governmental or munlcipaf charges, tines and Unposttion9 that ere not inctuded in Paragreph 2. Borrower sASll pay these , .
<br /> ' ' obligatlons on time dtrectty to the entity whiCh is owed the payment. I}taliure to pay wouid adversely a(feCt Lenders interASt In
<br /> . � the Property,upan Lendar's request Bortower shall prompity tumish to Lender receipls evidenCing these paymerrts. � .
<br /> ' � } N 8orrower taiis to make these payments or the payments requtred by Peregraph 2, or}ails to pertorm any other covenants ' ,
<br /> �- � � and egreements Contelned In this Secur(ty Instrument,or there is e legel procAeding thet mey slgnmCantty eNeCt LenQer's rights in �
<br /> � �} the Property (such as a proceedtng m benkruptcy,tor condemnaUon or to enforce faws or regulations),then Lender may do and ' .
<br /> - . � pay whatever is necessaty to protect the value of the ProDerty and Lender's rights in the PrapeRy, inctuding payment o}taxes, � '
<br /> �:
<br /> ha:ard�surance and other items mentioned in ParagmpA 2
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<br /> ' • ' I F58ULM0(1/98) Pigo 2 of 5 • � .
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