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<br /> ; 97� 10Z�� r . '..�' � -.
<br /> ts amount noE to exeeed the m�ximum 4. ` • __-
<br /> � Lender may, at any tane.coUect and hotd amounts tor Escrow ite�ns in en a99� t , _ _
<br /> 1 amount that may be required for Bortawers esstow account under tha R:at Estnte Sattiamant Pracedures Act of 197a, 12 U.S.C. ��
<br /> �25Qt e�se .and inDiementnp reS�ufadons. 24 CFR Part 3500.as they may be amenQed Uom Ume to tirtFS('i�SPA��,o�eD� � . ,`#"`�
<br /> that the cusRtan cr reserve Pe�nkted by RFSPA for uaentictpatod disburs�nents or disEurs�snenls before tAe Bortourers ` •f"
<br /> p8ymen�;ere avg;1aple in the account may not be b85ed an emounts du9}or the mortgaqs fnsurenco p�4+R+- � � • � � :$.
<br /> If the amaunts held by Lender for Esaow�tems s x�e d t h a emounts pemdited to be hetd by FtESPA.l.ende�shntl account �
<br /> to 8artower for the e�a�ss t��ds es re4uirod tiY�0.If tha emounts of funds heid Oy L.9�der at eny�e�not Sutf�Cient to ,
<br /> �:� PaY the Esaow Items when due.Lender may noUfy the Borrower and reQufro 8orro��rer to make up the shoRaSe as DemiHted by . . _�.
<br /> ! �The Escrow Funds are Pledged as aGd�ional security tor all surrs secured by this SecurRY Instrumant Ii Bartower tandecs f , . . -
<br /> � to Lender th9 tul�paymeni ot all SucA sum5. 8otrawe�s ecCOUnt She�b9 Ct9dited w�h the balBnCe�0mshtng for flU inSt8thn8nt � - . -. _
<br /> �tem,, (a). (b}, end (c) and any mortgage insurance pram(um instaBme�t that Lender has not bscome ob1lgated to pay to the �
<br /> Saeretary.and Lender shall promptiy refund enY excess tunds to Bortower.fmmedsatety Prior to a forectosure sals of tha Prop�rty ;. =. f: '
<br /> or its acquisRion by Lender,Bortowe►'s account shatl hs credited w�th nnY balance remainhp�Or all nstaliments tar derss(a),(b). .. .
<br /> end(�?• . . ' � : " -
<br /> �. A�1[,t1�C8'[IOII m�P8yII1C114S-A(1 payments undar PBrfl�aphs 1 and 2 shail be apP�d by Lender as follows: . • �., ���
<br /> FiTBt,to the mortyape hsuran�e P��m to be patd by Lender tc the Secce�or to the month►y chargs by the Secre�ll •
<br /> lnstead ot the monthiy mortpsse hsurance premium: . _.,-.`•",�._
<br /> �econd, to eny texes. special assess��• �ahotd paymsnts or ground rents, and fue, flood and oiher hazerd ` 3'�,:
<br /> ' hsuranee presniums.as re4oired� , <�' . . "��
<br />• � Thtrd,to interest due under the Not� ,, • � '.
<br /> FOUltI1,W amarth�tion of tAe principaf of the Note:and .• ��°
<br /> . • '� _
<br /> Fifth,to tate charges due und�the Note. .. ��
<br /> . 4. Ftre, FlOOd 8Rd OthC� HazeYd IitsutetlCe. eorrower shaU hsure au inProven�ents on the ProPertY,whemer -. :?..:�=."
<br />� .�,.:, ..�... .
<br /> now n existence or subsequentN erected, a9ainst any hasards,easueRles. end conthgencies, incWdhp fire, tor whtch Lsnder . ,:X: -r-_.. ��"
<br /> requires insuranca This v�surence sha(1 be malnmined in the amounts snd for tho perWds that Lender re4'�ires.6ortower sha0 .. • y`__ '-:�_
<br /> also insure ail trnprovemants on the ProDarty.whether^°w „ e�stence or subsequenth►erected.agatnn bss by ftoods to the
<br /> . d wnh companies approved by Lender.The insurance palicies and ' :i�r=. "
<br /> extent reQufred by the SeCreterY•AO tnsuranCe shell be Cetrie �", �
<br /> - `t any renewals shall be ha:d by LenQer and shs9 Include bss p8yabie Clnuses h favor o},and in a tortn eccePtabie to.Lender. � � � �.� �'�:� _
<br />• ... . ._..:..� ,'.fy
<br /> In the event of bss. Borrower shaU ghe Le�der trnmeaiate notke by maU. Lendzr may mske Proof of lass H not made _ . . i
<br /> promptty by Borrower. Each �surence companY concemsd is Aereby author�ed and directed to make paYment for such Wss .-y . . , , �,,�.,
<br /> - d T r e c t y to 1.ender.hstead of to Borrower and to Lende►leinty.Nl or enY Part of tAe hsurance proee6ds may bo�DD�bY . •�'�� '.••� ..
<br /> Lender, at its optbn,e�her(e)W tAe reduetion of the hdebtedness under the Note and thts S e c u r R Y �n s t r u m e n t, ft r s t t o an y
<br /> � delinquent amounts appl3ed in the arder b Paraffraph 3,and then to prepayment ot pficipal,or(b)to the restoratbn ot repaY of ., �� r- '
<br /> � tha demaged Property AnY applicatbn of the proceeds to tha pAncipai shaU not extend or postpone the due data of ttie �,� �
<br /> < � monthy payrnents wrhich ere refeRed to h Peragraph 2, or chanpa the amount of such payments. Any e�ss �� - . ��i:�]�`.
<br />� praceeds over en en'iount�aquired to pay all ouistan d hp h d e b t e Q n e s s u n d s r t h e N o t e a n d t h i s S s a u r k y�n s b u m e n t s h a B p a ._ : S s , ---..-
<br /> . << to 4he sntfty 10�1h1 entitied therefo. -`5'- ;'`�s `-
<br /> In the event of toreclosure of thts Security instrument or oti�er Vensfer of titia to the Property that e�dhpuBhas the �=`. 1; ��
<br /> i. . N r
<br /> �• indeptednegg,all ripht,titfe and int�rest ot Bortower h and to insurnnce policcies b torce shaU pass to the purchas�r. ..�� .. �
<br /> '.�.��;�'"�.
<br /> s��-
<br /> 5. Oecupancy, Preser�etlon, Maintenance tand Protection of the Property; BorroWei's Laan _._��...� nf,.%--.�-�;-
<br /> App11C�0O; LE�h01ds.Borrower shap occuDY,estabQsh.and use the Pro�ty�s BoROwa's princpal restdence wkhh ..,;,��
<br /> -��'-. ':-
<br /> sbRyr days after the execuHan of this Security Instrumont(or wRhh abRy days of a Iater seb or transter of the ProDeRY)�nd sha� ; �;F� �-
<br /> m�.r .�•
<br /> �r: - c_n!lnuo to occupY the ProperiY es Bortowers pnc�ipal residence for at ieast one year efte► tho date oT oecupano9. unbas .�r�,�,�._ _� ---
<br /> Lgtider determines that reQutoment wiB cause undue harQshTp tor Borrovrer.or unlsss eoQenuatlnp elreumstanees e�s/w16:ri ata �.t�:..-—=_.�—._
<br /> b e y o n d Barrowefs contro6 Borrow�sha8 noti[y Lender ot any mRenuatlnp cir�umstances. Borrower shaU not commB waste or - _,���:
<br /> •;-.�;.,�._.,---
<br /> deslroY� dartw�e or substanttefly chenpe the ProperlY or a0ow the PropertY to deteAorab� reQSOn a b m w e a► a n d U a r a C�P�• �. i.r,_�_
<br /> S18 '
<br /> : L,enda►may bspect the Property if the P�opwty ts vecant or abandanad or the ban is h detauR.I.ender may Lks naso�b� ._`.�:zr.
<br /> � Borcowor sha0 atso be h defauR N Borrower,Qurtnp ths ban �"'�'��
<br /> ectbn to orotect and preserve such varant or abandoned P�operty. _
<br /> .,- appQCatbn prxess.pave matertally faise or inacturate I n forma U o n o r s t a i e r n o n t s to i.ender ior is"usG 2v Mrav':a L..�s�.�»'ts�n; - -�-„�.�:;."��_r.�' '
<br /> material hfortnatbn)In ConnectSon with the ban evW9ncad by the Note, hc4dEnp,but not NmRed to,representatbns conceminp .,
<br /> Bortowets occupancy of the Property es a prinepal roalQw�c�. If thi� Socurtry Instrument is on e IeasohoW, Bortovwr oh�B • .�.�: �
<br /> compry wRh tha provisbns of the lease. If Borrowe►acquires 1ee tRl� to the Property,the leasehold and fee tRfa shal not be . � —
<br /> m�rped untess Lsnder agrees to the merper in writinp. �
<br /> 6. �ondemnatlon. The proeeeds o1 any awerd or ciaim for dameyes,direct or consequential, in connection w+2t�any � . -
<br /> condemnation or other tslcinp of any Part ot the PropeAy,or foe comeyance in Pt4ce ot condemnatbn,are hereby asspned�nd
<br /> shfl0 be pakl to Lender to the mctent of the Iu0 amount of the indebtedness that rernains unpaid under the NOts and thb . ' �
<br /> Security Instrumen� Leader shaD eppy suoh proceeds to the reduCtion of the indebtedness under tAe Note and this Secutdy ---
<br /> Insuument, tirst to any deBn9uent nmounts epptied in the order provtded h Pera�ePh 3, and then to preAaY�t ot pnc�lpaL . � —
<br /> qny eppGcaUon o}the proceeds to the principal sha8 not eocteed or postpone the due date o!the monthry paYmeMS.whlch ue . . �
<br /> reterred to in Parapraph 2. or chanpe the amo+mt of such paymenta AnY ex�esg ProceBds over en amount required to pey aIl �
<br /> outstandhg indebtedness under the Note and thls SACUrity lnstrument shail be pab to the e�tiry iepa�h eatitiBd thereto. . , �. - -
<br /> � 7. Charges to Barrower and Protection of Lender'a Rlph4s in the Properey. eor►ower snan pay an � ; •
<br />� gpvemmental or muntcipal chargas, 1ine5ti and impos'stlons that ere not Included h P�a9►aPh 2. 8ortowa► sha0 pay thpse
<br /> obligatlons on time direCtTy to the entityr wh@h is owed the payment• If faibru to pay woub adversery affect Lenders interest tn . •
<br /> tho PropeRy,upon Lenders request Borrower shall prompUy fumish to Lender receipts evidencin8 th9se paymenTS• ; �°
<br /> If Borto+r�er faiis to make these paymeots or tAe payments reRuired bY Fe►aOreDh 2,ar faiL�t0 perform eny Other covenanta .
<br /> • and ggreertien29 contained In thts Securityr Instrument,or there l�e fapal proceeding that may siyn�icantry aNect Lenders righte in �
<br /> the Property(such as a proceedfng in baniwAtcy,tor eondemnatlon or to en(arcs I�ws or regutattons),then Lender may Eo and � �^
<br /> pay whateve► �s necessary to protect the va1�e of the PropaAY end LenQefs rights in Ihs PropsAy. IncNdine paymsnt of texes.
<br /> � hazard Insurance a�d othor items mentbned in Paragraph 2. � � • .
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