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<br /> If tke amounts held by I.ender for Escrow Items exceed thc amounts peRnittcd tn be hcld by RFSPA,Lender shall �
<br /> account to Borrower for the excess funds as required by AFSPA If the amounts of funds held by Lender at any time . . � �. �. �
<br /> are aot sufficient to pay the Esrmw Items when due,Leader may notify ike Borrower and require Borrower to make up � • , '' �
<br /> -- the shoriage as permiued by RESPA. - ., _
<br /> �,� -- _� _---
<br /> � 'It�e F.scmw finnds are pledged as addiaonal sec�rity for all sums secure�by this Security Inspument If Borrower .
<br /> trmders to I.ender the full paymeat of all such sums,Borrower's account shall be credited with the balance remaining for � � -
<br /> all instaUment items(a),(b), aud(c)and aay mortgage insurance premium installmeat that Lender has not become . . ` .
<br /> abligated tn pay to the Secretsry.and Lender shall prompdy refund any excess funds to Borrower. Immediately priar to � , -.. -
<br /> � a foreclosure sa2e af the Property or its acqvisition by Lender,Bonawer's account shall be credited weth any halance • �, -
<br /> � ! remaining for all instaUments for items(a),N),and(c). � ,�.'
<br /> 3.A hcatiott of Pa " � _
<br /> pp' yatents.AIl payaienls undea paragraphs 1 and 2 s�all be applied by Lender as follows: s�r.:
<br /> �to the mortgage insurance premiuru to be paid by I.ender to We Secretar}+or to tiie monthly c6arge by the �' �' .
<br /> . gecxetyq,instead of the montiily mortgage insurance premi�n; f � t - ��,`
<br /> ' S�Iid,w any taxes,special assessments,leasehold paymenis or gc�nund rents,and fire,IIood and other hazard • •
<br /> msmance p,amn.-'---*„a�as req�ed; � .,_. � , .
<br /> �,to int�est due uuder the Note; � � �. *�-�
<br /> ..��.`�
<br /> Fo�utl�,W amo�.ation of the prmcipal of the Nat�and � . . °'� '""'
<br /> . �,to tate charges due mid�t6e Note. ��i���`= •.,`
<br /> 4.FSre,Ftood u�nd OWer HaTard Insaranca Barrower shaU insure aU improvements on the Propeaty,whether � � ::;:= • k�—'�
<br />� :.�;. now m existence or subsequendy erected,against any hazards,casualties,and coatingencies.including 5re.For which � w �;�r;---- ',>:�,.�.
<br /> . '�<; Lender requues m��nce.'I]�i4 insurance shall be maintained in the amounts and for the periods that I.euder requues. •;'� -�
<br /> � :.� Bormw�shall also insare all improvements on the Propeaty,whethe�now in existence or subsequeatly erectetl,against : •^
<br /> loss by flflods to the extent required by the Secretary.All insurance shall be carried with companies appmved by I.ereder. '�' �°""��"""�'-
<br /> 'Ihe insuiance poHcies and any renewals shall be held by L.eude�and shall include loss paynble clauses in favor of.and f
<br /> ��� =;.
<br /> ui a foim acceprable to,I.ende�r. �.��--
<br /> In the event of lo�s,Borrower shall give Lender immediate notice by mail.Lender may mafce proof of loss if not �'' �• '� v._
<br />� ma�e�romptly by Bo�wer.F�rle casurance compauy concxmed is h�eby authorized aud d�ected to make payment for
<br /> �� such doss directl to L�►der,ins.�of tn Borrowed and to Let�'oin All or an art ef�ae insuiance roceeds ma _ ��:
<br /> Y 1 �S+• Y P P Y �f.-.:.
<br /> be app2ied by Lender,at its oprion,either(a)to the reducfion of the indebtedness undear the Note and this Sec�rity '
<br /> Insaume�t,first to�y delinquent amomtts applied in the ordea m paragragb 3,and then tn prepaymeat of PrinciPal,or �•_�_
<br /> (b)w the restnrat��cn repair of the damaged Property.Any application of the praceeds to the pzincipal st�all not extend � ' �
<br /> or pasi�wne the due date of ths�^thly payments which are�ened to in paragraph Z,or ct�ge the amount af such
<br /> � paym�ets.Any eacess insvrance proceeds over an amount roqused w pay aU outs�anding indebtedness under 1he Notc :,:.-`
<br /> and this Security Instraiment shall be paid w the entity legally entiQed thereto. � - °'-°-`".'---
<br /> , In the event of fonclosure of tdis Security II�swment or other uansfe.r of dde to the Property that e�ctuiguishes the . �•-�-^--
<br /> • indebteduess.aU rig6t,6fle and interest of Bonower in and to insurance policies in fo�e shall pass tn the p�uchaser. --�
<br />• 5.Oocapancy,Preservatm¢�,Maintenance and PratecNon of the Property; Br�ower's Losw ApplIcation; � ='�`� ��•
<br /> Lcase�alda Borrower shall ocv.c�y,establish.and use the Pmpc.rty as Bor�wea's principal resdence within sixty days ��;,��--
<br /> afrer the execation of this Sec�aity Ins�ument(ar withui sixry days of a later saIe or transfa of the Prnperty)and shall - _
<br /> . wntinue to occupy t�e Roperty as Bormwer's principal rea7dence for at least one year afteT the daie of occupancy, �•.,�.� --,
<br /> � imless Lertder determines that requirem�t will cause undue hardsLip for Brnmwer,or uNess eatenuating circumstances �--- .
<br /> exist wbich arc beyond Bonower's control.Borrower shall norify Lender of any exteauaung circumstances,Borrower '� .�*= ��
<br /> shall reot commit waste or destroy.damage or svbstanGally change the Property or allow the Prope�ty to det�ioratc, � ��`�= � �
<br /> reasonable wear and tear ea�cepted.Lender may inspect the Propeaty if the Property is vacant or abandflned or the loan is �-
<br /> . in defanit I.endea may talce reasonable aceon to protect and preseave such vacant or abande�ed Property. �����i•�-_.y'
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