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<br /> _—. _—._� If the amawnts hetd by L,ender for Fscrow Items exoeed the amounts permitted to be tceld by RFSP�►,Lender - _ �
<br /> � • � RFSPA. If the amounu of fimds hetd by Lsnder at aaY : ��' . `.
<br /> shall a000unt to Borrower for the excess fmids as tequired by � � ��Borrower to -. ,`� :�'-`��;
<br /> . , ' . ame aze not sufficient to pay the Fscrow Items whea due,Le�der no the Borrower and .. ,,: _ '
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<br /> . < make ug the shostage as permitted bp RESPA. �`' �- : •-`- `•::y=`
<br /> - -; _ �; The Escrow Funds are pledged as additional secutity for aII sums secured bY this Security.Insu�ment. If ' • ,��:,
<br /> � %? Borrower tenders to I.ender the fuU payment of ail snch snms,Borrower's acconnt si�all be credited with ttiee balance -
<br /> •�. ��,- .:
<br /> ' -, i rn*naininp fo1'3I1 inSt2llIIleat iteIIls(3).(b).and(e�and any mortgage inst�P���slallmeni that Lender has ,, ' � %,a; -u
<br /> . ' not become obligated to pay w the Secretary, and Lender shall promptiy refund any excess funds to Bormwer. -�:�:�°
<br /> - ' Imme�tiately prior to a foseclos�ue sale of the Praperty or its acqu9sition by Lender, Borrower's accouut sba11 be . �'='-
<br /> , . • e ccedited with any balance remaining for all;ncranmen�for items(a).(b),snd(a). ,
<br /> � . •�, 3.Application of PaymeaLs.All payments�mder patagrdphs 1 and 2 shaU be applied by Lender as follows: . .�:::
<br /> . First.to the mortgage insurance premiam w be paid by Lendec to the Secretary or to the iaontlily charge hY the .`'i.':°.` ::
<br /> � . ,� :�;., Secmary instead of the monthly mortgage insurance p•P,,,n,• - :�"�'":'_
<br /> � . �-. Secwn to any ta�s.special assessmenu,leasehoId payments or gnoand n�nts,and fire,800d and other h�ard .;,:.'.� �:
<br /> � � � :� insorancepremiums,asre9uired; � � . !_
<br /> ��"��, Third.w interest due under the Note: ' ---_ _
<br /> Fonrth_to amord7atioa of the principal of the Note;aad �-. -�
<br /> - . . F�fih.w late charges due under the Note. .' :•<:•�'°-�°—,.
<br /> � ' �� 4.F{r8,Flootl aad Oiher Ha7ard I�vrance.Borrower shall insvre all improvemenu on the Property,whether .,r..�:�
<br /> "� . now in existence or subsequently erected,aSainst aay haa�rds,casaalaes,and wntingencies.iacluding fise,for wI►ich
<br /> l.ender requires insu:anse. This insurance shall be maintained in the amounts and for ihe periods Wat Lender ,, —
<br /> , requires.Borrower shall also insuse all improvemeuts oa the Prnperty,whether now in existence or subsequemly '^ ::, -
<br /> � � erected,against loss iry floods to the extent required by the Secretary.All insurance sbaU be carried with companies • .� . �`�_
<br /> • . approved by Lender.The insurance Policies and any renewals shall be held by Lender and shall include toss payable ,.,��:_
<br /> , ` clauses in favor of,and in a form acceptable to,Leader. . � � �; :��
<br /> '1 In the event of loss,Borrower shall give Lender imm�diate nouce by mail.Lender may make proof of toss if not
<br /> n _,_..
<br /> .- ..... . - -.-- �i made promptly by Borrower.Each insurance comPany ooncemed is hereby authorized and directed to make paymeat ::.., ;:;•�
<br /> , � . �1 for such loss direcdy to Leader, instead of to Borrower and w I.ender jointly. Ail or any part of the Insu:ance ,':��.
<br /> , � pruceeds may be applied by Lender,at iu option,either(a)co the reductioa of the indebtedaess uader the Note and . . „ _;..x�._:.
<br />� � . � �. this Secvrity Insuument,fust to any delinquent amounts apPlied in the order in paragraph 3,and then to prepayment , .• i:
<br /> �; of princi pai, or @) to the restoratioa or repair of the damaged Pcoperty. Any aPPlicadoa of the praceeds w the . ��",'
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<br /> � � � principal shall not extend or pastpone the due date of the monthly paymenu which are referred w ln paragraPh 2.or . ,;��
<br /> change the amount of sach payments.Any excess insurance Prac�ds over an amount required to pay all ouutanding • __�.
<br /> � � indebtedness under the Note and this Security Insuument shall be paid to the entity legally enaded thereto. •���
<br /> � � � • � In the event of foreclosure of this Securlty lnstnunent or other transfer of title to[he Property that extinguishes , . �-�''�_�
<br /> � , the [ndebtetlness, a11 right, tisle and interest of Boaower in and to insurance policies in force shall pass ro the
<br /> , � � ' '� purchaser. � - • '
<br /> . . � g,Qccupaacy,Preservatton,Maintenance and Protectton of the Property; Busower's Loan Application;
<br /> � ' ' Leaseholds. Borrower sha11 occupy.establish,and use the Property as Borrower's principal residence witl�n sixty � ,
<br /> :�, • days after the eaecution of this Security lnstrument (or wi�hin sixty days of a later sale or transf0r of the Propercy) ..
<br /> � and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of .
<br /> . ' • accnpancy,unless Lender determines that requirement will cause undue hardship for Boaower,or unless eatenuating � ,
<br /> ' ` ] , � .
<br /> circumstances exist which aze beyond Bonawer's wntrol. Borrower shall notify Lender of any e�ctenuating
<br /> circumstances.Borrower shall not commit waste or desuoy,damage or substantially change the Property or allow the
<br /> �, ' ' Property to deteriorate,reasonable wear and tear eacepted.Lender may inspect the Property if the Property is var,aat ..
<br /> " . or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve such vacant or , .
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