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<br /> If the amounts held by Leuder far Escmw It�ms eaccxed tha amounts germiued tn be held 6y RESPA.I.ender sha11 . � � � .
<br /> account to Borrower for the excess funds as required bY RESPA If the amounts of funds held by Lender ai any time � , , �.
<br /> are not suf�CCient m pay the Escrov�Items whea dus,L.ender may norify the Borrower and require Horrower W make up � ` - - - - --
<br /> dee shortage as pem�itfed by RFSPA �
<br /> 'I'he Fscrow Funds are pledged as additional se�urity for all sums sec�red by this Security tasuumea� If Boirower � � . . . t
<br /> teul�s w Lender the full payment of all such s�ums,Borrowea's accovnt shall be credited with the balance►�e aining fot � � • , .
<br /> all installment itcros(a), (b),and(c) aud any mnrtgage ins�uance premivan installment that I.ender has not become - . • ;
<br /> obligated to pay ro the Seczetary,and Lender shall promptiy refund any eacess funds to Borrower. Immediately prior to ` .. , '
<br /> a foreclosure sale of the Property or its acquisition by L.ender,Borrower's account shall be creditad with any balaz►ce . • ..
<br /> .-..,r.�..-
<br /> ;n;ng for all installments for items(a),(b),and(c). . � .
<br /> 3.Apptication o�P Payments.AIl payments under pa�agiaphs 1 and 2 shall be applied by Lender as follows: ; ��`��-�_.
<br /> �to the mortgage insurance premium w Ue Paid by l.ender to t1►e Secretary or to the monthly charge by the � . . . 'y��Y
<br /> S�cxetary instead o€the monthly mortgage insurance premium: _ � p�-��,�.�.�-.
<br /> �nQ,tn any ta�ces.special assessments,leasehold payments or ground rencs,and frre, flood and other ha�ard . . ; .,�. �s. �'-_
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<br /> II1SUPdI1CR pICit1I11II1S,1S IfQlllfCd's " �, �' ��e.c--
<br /> �j�¢,w int�est due under the Nore; , •'�� - -
<br /> : � • ���
<br />� Founh•w amorti�stion of the principal of the Note;and �i ° w�+�*, ;._
<br />' �'j�'�,to late charges due under the Note. . . �.p•.��:�i.-_�
<br /> i 4.Fire,Ftooai and Other�Iaaard Iasaranoe.Borrower shall insure all improvements on the Property,wheth� . , : ::•--
<br /> now in existence or subsequently erected,aSainst anY ha�ards,casvaldes,and contingencies,including fire.for which � , r�:�-'�
<br /> � Lendea requires insucance.This insurance shall be maiatained in the amounts and for the periods that Lende,r requires. .; ::°�•,. -:�.. `
<br /> •,„ �.
<br /> Borrower shall atso u�saYe all improvemeats on the Property,whether now in existence or subsequently eae�ted,against . ,.. -r'-:.� � . .
<br /> .�
<br /> loss by floo�to the extent requnred by the Secretary.All insuiance shall be carried with companies approved by Lender. . . . -.���-'�:..:
<br /> The u�rance policies and any renewals shall be held by L.ender and shall include loss payable clauses in favor oY,and . �� �• ', ; ` ': �
<br /> ia a forw acoeptable to,Lender. . � �i
<br /> In the event of loss,Borrower shall give Lender immediate notice by mail.Lender may make pmof of loss if not °. ;i{- ,•- . ,� ,
<br /> made prompdy by Bonower.Fach insurance company concemed is hereby authorized and directed to make payment for . '`-'��•-: :,.' `.
<br /> .<,�:.,�'. t .
<br /> sucb loss directly w Lea�der,ins�tead of tn Borrower and to Lendea jointly.AU or any part of the insurance proceeds maY ,- . �.,.:y :
<br /> b e a p piied b y Lender,ai its o ptnon,either(a)to ihe reduction of the indebtedness under the Not�and this Security " .,,r,_.,.. . •� ��a •
<br /> Ir�.strument,first w any delinquent amounu applied in the ordea in paragraph 3,and then to prepayment of principal,or ;'. -�`i i
<br /> (b)to the restoratinn or repair of dre damaged Propeaty AnY aPPli�ian of the proceeds to the principal shall not extend '' ��f� ;•.
<br />� �-Y�:� - .
<br /> or posq�one the due darc of tiie monthly paymeaits which are refened to in paragraph 2,or change the amount of such '4
<br /> PaYments.Any excess ins�uance proceeds ova an amount required tn pay all ouutanding indebtedness under the Note - —f--
<br />; and this Secuaity Instrument shall be paid to the entity legally entifled thereio. •'�.>��, ,
<br />; In the event of foreclosure of this Security Insmunca�t or other 4�ansfer of dtle to the Property ihat eatinguishes the � y�
<br />� indebtedness.aU right,dde and interest of Borrower in and w inswance policies in forcc shall pass w Me p�uc h a s e r. "'��.,:• : ;
<br />� '�;A .
<br />_ 5,pccupancy, pr�;ervation,lNaintenance and Protecbion ot the Progerty; Borrower's Loan Application; �. �fi,.. 5
<br /> A.ea.schotds. Botrower shall occupy.establish,and use the Aropeacy as Bonower's principal residense within sixty days ��'-"=
<br />� after t�e ea�ecudon of this Seciuity Instrument(or within sixty days of a later sale or uansfer of the Property)and shall �''
<br />• contimus to occupy the Propeaty as Bo:row�'s principal residence for ai least one year attes the date of occup�cy, : --'°''���%:
<br /> unless Lenda determines ihat requirement will cause�ndue tiardship for Borrower,or unless e�ctenuating ci�cumstances ;�,.;�.'-
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<br /> j eaist ahich are beyond Borrower's wmtrol.Borrower shall notify Lendea of any ea�tEnua6ng circamstances.Bocrower . }" -e• t •. .'=.
<br />- es�o dama e or substsntiall chan e il�e Property or allow Ihe Pmperty to deteriorate. .,. :jx����-�
<br /> shall not commit waste or d y, g Y B
<br /> i reasonnble wear and tear excepted.Lender may inspecc the Propetty if ihe Prop�ty is vacant or abandoned or the loan is ' � ��-� •.
<br />� in defa�lt Lender may take reasonable action to protect and presedve such vzcant or abandoned Property. , : .. ..� r���-'
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