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<br />` � 9�° 9„�2'��5 � . , � --
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<br /> � If the amounu held by Lender for Escrow Items exceed the amounu permitted to be held by RESPA, L.ender � . • _
<br /> } shall ascount to Borrower for the rxcess funds as required by RES�A. If the amounu of funds held by Lender at any , �
<br /> 1 time arz not sufficient to pay the Fscmw Items when due, Lender may noti"ry the Bonower and require Borrower to . " � .
<br />�3 make up the shortage as permitted by RESPA. -, .,-.-."_- - . -
<br /> The Escmw Funds are pledged as additionai securiry for all sums secured by this Security Instrument. If � . � . , ,F, _
<br />� Borrower tenders to Lender the faU payment of all such sums,Sarrower's account sh311 be credited with the balance •. - . •
<br /> remaining for all installment items(a), (b),and(c)and any mortgage insurance premiwn installment that Lender has . . , .. .- :���__'�.
<br /> not become obligated to pay co the Secretary, and Lender shall prompdy refund any excess funds to Borrower. ' -- ,�y
<br /> Immediately prior to a foreclosure sale of the Progerty or its acyuisition by Lender, Bonower's account shall be � ,;•;�' `"
<br /> �-
<br /> credited with any balance remaining for all installmenu for items(a),@),and(c)• . r.,.,• � �<<:�;s
<br /> 3.ApplIcation of Paymeats.All paymeats under paragraphs 1 and 2 shall be applied by Lender as follows: • "
<br /> Fi�st,to the mortgage insurance premium to be paid by Lender to the Secretary or to the monthly charge by the � . `' :-=��
<br /> Secretaay instead of the monthly mortgage insurance premium; � -:�,�fy '
<br /> econd to any taxes,special assessments,leasehold payments or ground rents,and fire. flood and other hazard =-=-- --
<br /> insurance premiums,as required; .:�...�
<br /> �.'��r.�_-
<br /> Third.to interest due under the Note; �� . �--
<br /> Fo ,to amorti7auon of the principal of the Note;and � '_---
<br /> Fifth.to late charges due under the Note. �. -� - -
<br /> 4.F3re,F7aad and Other HsTard 1ns�nance.Borrower shall insure all improvemenu on the Property,whether . - - ---���'"��--
<br /> ' now in existence or subsequently erected,against any hazards,casualdes,and contingencies,including fire,for which � ` rt �°�` "�
<br /> j ,;�;.._�s-
<br /> : �d� req� inrnran�. � �-�ce sball be maintained in [he amounu and for the periods that Lender , - -
<br /> �• require�. Boaower shall also insure all improvements on the Property, whether now in existence or subsequendy ,'_'�
<br /> erected,against loss by floods to�he ex[eat required by the 5ecretary. AU insurance shall be carried with companies *
<br /> appmved by Lcnder.Thc insurauce policies and any renewals shall be held by Lender and shaU include loss payable ; -- �= - :-:, .T:==
<br />, clauses in favor of,and in a form acceptable to,I.ender. ' �.�� ''A�'� �°,
<br /> In the event of loss,Borrower shall give Lender irnmediate notice by mail.I.ender may make proof of toss if not �� '-';
<br /> made prowpdy by Borrower.Each insurance compan}+concemed is hereby authorized and directed to make payment -. � _ .t
<br /> for such loss directly to Lender. instead of to Borrower and to I.ender joindy. All or any part of the insurance ��,;�,,,.� • �.� �
<br /> proceeds may be applied by Lender, at iu option, either(a)to the reduction of the indebtedness under the Note and � ��^�s ` �'L�
<br /> this Security Instrumeat,fi�.t to any delinyuent amounu applied ia�he order in paragraph 3.aad then co prepayment -_ °� � �-�#! .
<br /> of principal, or (b)to We restondon or repair of the damaged Property. Any application of the procads to the �)i ; .�
<br /> principal shaU not extend or postpone the due date of the monthly payments which are referred to in paragraph 2,or - �-�� • �-•
<br /> change the amount of such paymenu. Any excess insurance proceeds over an amount required to pay all ouutanding �! ,�
<br /> indebtedness under the Note and this Seturity instrument shall be paid to the entity legally entitled thereta � • _•�,,;
<br /> In the event of foreclosure of this Security lnsaument or other uansfer of tide to ttie Property that extinguishes {��
<br /> . the iadebtedness. all right, title and interest of Borrower in and to insurance policies in force shall pass to the r��_�:� .
<br /> . Purchaser. �.—n
<br /> S.O�ccupancy,Preservation,Maintenance and Protertio�of the Properiy; Borrower's Loan Appllcatloa; ��°
<br /> Leasehoids. Bosrower shall occapy, establish,and use the Property as Barrower's principal residence within sixry '
<br /> days after the eacecution of this Securiry Instnunent(or within sixty days of a later sale or uansfer of the Property) _• -_ _ �=°Y�
<br />• and shall wntinue to accupy the Properry as Boaower's principal residence for at least one year after the date of • ' � • "
<br /> . occupancy,unless Lender determines that reqnirement will cause undue hardship for Boaower,or unless exteauating �.� .� �
<br /> ..� ' ,. � -
<br /> • c i r c u m s t a n c e s e x i s t w h i c h az e b e y o n d B o r r o w e r's c o n u o l. B o a o w e r s h a ll n o[i f y L e n d e r o f a a y e x t e n u a t i n g �'�"'�""���_-`
<br /> c'vcumstances.Borrower shall not commit waste or destroy.damage or substanrially change the Properry or allow the —_ �-
<br />.-- � 'rropeity[o de[erionte,reasnna�ie wear and tear excepted. Lender may inspect the Property it the Property is vacant -`�`, -
<br /> or abandoned or the loan is in default. Lender may take reasonable action to protect and preserve such vacaut or ��`'�"�� _ �� �
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<br />� �4RIHE1�ssoa�.oi Page 3 of 8 ,N„au,/�,�,�,/ .;:'� . :- :.
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