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<br /> If the amouats held by I.ender for Escrow Items exc�eed the amounts permitted to be held by AESPA,Lender � ' •. , , -
<br /> shall sccount to Borrawee for the excess funds as required by RESPA. [f the amounts of futtds held by I.eader at any � , . . -
<br /> � time are not sufficIent to pay the Escrow Items wheu due. Lender may norify the Sorrower and requite Borrower to �- -- __,_ _.--�,--�.
<br /> make up the shoi4age as permitted by RFSPA. . �. }iW
<br /> The Escrow Funds are ptedged as additional seeuriry for all sums secuned by this Security lnsuument. ff � . • � • _
<br /> Borrower tende:s to Ixnder che ful!payment of all sucb sums.Borrower's account ahall be credited with the balaace : ,.,�,. _
<br /> remaining for all installment itetns(a),(b),and(c)and any mortgage insurance premium installmeat that Lender has • .� -<,�`. :
<br /> not become obligated to pay to the Secretuy, aad L�eader s6all proatptiy refund any excess fisnda to Borrower. ' , • •�`=` =
<br /> .�.,.;„-_.:
<br /> Immediatdy prior to a foreclosure sale of the Property or its acquisition by Lender, Borrower's account shall be ! a.�=•':-
<br /> . credited with any balaace mmainin8 for all instaltm�,ts for items(a).N),and(c)• � , .:- :.,'i:�=,_'�e`
<br /> 3.Appllcation of Paympnts.All payments aader paragragbs 1 and 2 shall be applied by Lender as follows: � . � •' .':.�:
<br /> .t . , ..•,� . . �
<br /> r��,to the mort�age ins�*an�premium w be paid by L.ender to the Secretary or to the mon�tily chaage by the • e.- .
<br /> ��L _
<br /> j Secretary instead of she monthly mortgage utsurance premium; , �+. �� .�' �"
<br /> ,�•..:�%,_—=
<br /> � �p�,to any taxes,spe�ial assessmena,teasehold payments or ground rents,and fire.flood and other ha7ard . ....�_7f,,_
<br /> insurance pxemiums.as requized; , .1-=.,,-_ ---
<br /> `. Third.to inte�est due uader the Note; � ' �'-��
<br /> Fourth'to amortir+tion of the prIncipal of the Note;and '" ��.�
<br /> '�,h w laie charges due under the Note. .
<br /> 4.�re,�1ood and Othcr�rd�ce.Borrower shall insure all improvements on the PropenY,whether ;y�-��
<br /> . , naw ia existence or subsequently erected.against any Lazazds.casoalaes.and contingenties.including fire. for wluch '_„��"�°p�".__.
<br /> . �d� �� inni,anrP. � ��� � be maintain� � the amounts and for the pesiods tl� L.ender � �.'_ . '
<br /> �• requires. Borrower shaU also insure all impmvements on the Pmperty, whether uow in exist�nce or sabsequendy =: .y;
<br /> � ereaed.a¢1 St loss by floods to the extent required by the Seccetary.All insurance sha11 be ca�ried arith samFanies `�-,.-- _,,
<br /> approved by Lender.The insarance policies and any reaewals shall be held by Lender and shail include toss payable �� �• ��
<br /> - �.♦ ,�•JJ�� . - �-
<br /> clauses in favor of,and in a form acceptable to,L,endsr. .. '_
<br /> In the event of loss,Bormwer shaU give Lender immediate natice by mail.Lender may make proof of loss if not - ;•, '_.��'>.
<br /> made pmmptty by Borrower.Each insurance company wncemed is hereby authorizai and directed to make payment "^�• .r., .�"-'�•.
<br /> for such losg directly to Lendez, irs�of to Borrower and to E�nder jointly. AU or any part of the innuaace ,:;,� � :
<br /> proceeds may be applied by Lender.�3'sts opiion,either(a)to the reduaion of the indebtedness under the Note and ��c ';.. __
<br /> Wis Security Insuument,ficst to a�r delinquent amounu applied in the order in paragraph 3,and then to PnPaYme�u �� �,�::,
<br /> � of priucipal, or (b) to the restoration or repair of the damaged Property. Any applicadon of the pmceeds to the � �" "°4 :.':
<br /> ¢ h 2,or ':�' . ,�.,:..,,..
<br /> ,� priacipal shall not extend or pustpone t1Je due date of the monthly payments which are referred to in paragrap �.�-.'�. �
<br /> :i •, change the amount of such payments.!�s-.*'y exoess insurance pmceeds over an amount required w pay all outstaading � '�'��
<br /> indebtedneas under the Plate and this 5ecurity Insuvment shall be paid to the entiry legally endfled thereco. �T��
<br /> �' Ia the event of foreclosure of this Seciuity Instrument or other transfer of tide to the Property that e�aguishes ���""'''`�
<br /> 4 the indebtedness. all rigQt, tItle and 9nterest of Borrower in aad to insarance ucies in force shall ass to the 'nn��'� �°—'.��
<br /> ,� P�• P :,.-�;_:.�=:�.�
<br /> purchaser. �.' ::°:
<br /> ,'� S. OccaPancY,Pt+rservatton,Ra^���s on9nce eIId PioteCtioa of the Propertyi Bo1TOWei''e LoaD Apgllcattoili �, r
<br /> : � ;N�•
<br /> Leasehold9. Bonower adall oxupy,e.nablish,and use the Property as Borrower's principal residence within sixty �..-..•—
<br /> J __�_
<br /> ', ! � days aRer the execudon of this Sesvrity Insnument(or within siaty days of a later sale or uansfer of tht Ptopetty) .� _-� •�
<br /> � .. :;�u . �^+�-�. --
<br /> and shall wntinue to occupy the Property as Boirower's princ�pal resldence for at least one year after the date of �°
<br /> � occupancy,unless Lender determines that requirement wiil cause undue herdship for Borrower.or unless eatenuating •. ,.����°�-'��
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<br /> ' c�umstances eaist wbich are beyead Borrower's control. Borrower shall nodfy Ixnder of any extenuating • '��;�
<br /> circumstances.Bormwer shall not co�it waste or destroy,damage or substantiaUy change t�e Property or allow the - "���"� "�'"
<br /> � °�+�ra�.-
<br /> Property to deur�orate, reasonable wear and tear eacepted.l.ender may inspect the Property If the Property ia vacaat ,�.�.�,,,-: �_z�sa'
<br /> � or abandoned or the loan is ia default. Lender may take reasonable aaion to pmtect and preserve such vacant or � . _
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