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<br />� If the amaunts held by L.ender for Fscrow Items ea�ceed ihe amounu permitted to be held by RESPA.I.euder shall , • � ;`
<br /> accoun[ro Borsawer for the excess funds as required by RESPA- If the an►ounu of funds held by I.cnder at any time . � .. _
<br /> are not sufficient to pay the Escrow Items when due,I.ender may notify the Bonower and require Borrower to make up . • � =
<br /> she st�ortage as pe�mittecl by RESPA. • •
<br /> 'Rie Escrow Funds are pledged as additional security for all swns secured by this Security InstivmenG If Borrower �`— .- - " , —
<br /> teatiers so Leuder tl�e full payinent of all such sums,Borrower's acooant shall be credited wida die balance remain�ng for , �t:� i,
<br /> ` all iustallment items(a),(b),and (c) and any raortgage insoiance premium installment that Lender has not betome .�-
<br /> obligated tn pay w the Secretary,and Leader shall prompdy sefund any excess funds m Barrower. Immediately prnnr to _ , ; 4,
<br /> a foreclosure sale uf the Pmpeny or its acqaisidon by i.euda,Borrower's account shall be credited with anY balauce . . . ;
<br /> � rnmaining fOt 8ll 1n51811tACi1tS fOi ilPdilS(S).(b).3nd(C). - --�,v.�..�...._
<br /> _- 3.Applicatioa o�Paya�enis.AD payments under paragiaphs 1 and 2 shall 6e applied by Lender as follows: " _ _ --
<br /> �r y to the mortgage�ance premium tn be paid by Lender to the Secreta:y or to the montgily charge by the � � _= _-
<br /> - � . �'- .�A .
<br /> Secretary instead of the monilily mongage insurance premium; �, ' ;:;.•;�=�
<br /> • Second•w any taxes,special,assessments,leasehold payments or ground remu,and fue,tlood and other har�rd ., —.. _—
<br /> insurance premiwns,as required; :!��_-�T---.
<br /> �i�,to interest due undra the Not�
<br /> . . ~ ��:
<br /> �,to amortization of the principal of the Note;and . . .
<br /> f m late charges due uuder the Note. � � ° ��s�'�
<br /> 4.F�e,Flood and Other�iazard�nsurance.Borrnwer shall insure ali improvements on the Property,whether . .. :t_��=,�►°s -
<br /> now in existence or subsequently erected,against any ha�ds.ca�ualties.and contingencies.mcluding fue.for which : :�. � �_'��, �
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<br /> ' Lender req�ires insurance.'Ihis insarance shall be maintained in the amounts and for the periods diat Lender requires. -�:7�`r-
<br /> gc�oa,er shall also insure ail imp*ovements on the Property,whethe:r now in existence or subsequenUy erected.against , �
<br /> . .,� loss by floods tn the exteat required by the Secretary.All in�ucance shall be carried with companies apgroved by I.ender. . `���;:'._
<br /> ; � �('he insurance po licies an d any rene w a l s s h a ll b e h e l d b y L e n d e r a n d s h a ri i n c l u d e l o s s p a yable clauses in favor of,and �
<br /> . in a foan acceptal�le to,Lenda. ,��"'��,
<br /> I n i he event o f loss,Bo r r ow e r s h a ll g i v e l.e u d e r i m m e d i a t e n o t i c e b y m a il.L e n d e r m a y n n a k,e p r o o f o f l oss if not � ;,��s; '.'.
<br /> • . made prompdy by Borrowea.Each insuiance company conce.�ned is hcaeby authorized and directed to make payment fos �• _ .�` ,:,
<br /> . ' sucb loss direcdy to Lenda,instt�of to Borrower and to L.endea joindy.All or any part of the;nc�,.ance proc¢ecls maY . --`- _ >';�'r.�
<br /> � be applied by Lender,at its option,either(a) tn t he r e ducrion o f t he in de b t e d n e s s u n d e r t h e N o t e a n d t h i s S e c.u r i ty ��Yr ;- � •
<br /> " Insuument,first to any delinquent amounts applied in the ordea in paragraph 3.and then to prepaymant of principal,or „��..�;:��+::
<br /> (b)to ihe restoration ar repair of the damaged Property.Any applicadon of the proceeds w ihe princip�l shall noi ea�tend �'- x�i ;`.
<br /> or posqwne t6e due date of�he monthly payments which zae refeaed to in paiagraph 2,or change the amount of such . - '�.,� -.
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<br />. pay�nnec�ts,pny eaccess insurance proceeds ovea an amount required to pay all ouutanding indebtedness under the Note ,?k :
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<br /> .� and this Security Insuument shall be paid w the entity legallY entided Werew. �:�d:.+�;�.;�' '' - •
<br /> • In t�e event of foreclosure of this Security Instniment or other uansfer of dde to the Property that extinguishes the ,�;:,,�.. �'�,
<br /> indebtedness,all right,atle and inteaest of Borrower in and to insurance palicies in fone shall pass to the purc6aser. '?3:s-
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<br /> S,pccupancy, Preservatiun,Mnintenance and Protecbion of the Property;Borrovier's Loan Appdtratloa; � T%�_�,
<br /> a
<br /> ' Leaseteoidg. Bosower shall occupy,establish,and use the Propaty as Bonower's principal residence within si�cty days �,�rt r*'�w�r
<br /> � after the execudon of ihis Security Instnuneat(or within s"vcty days of a latear sale or uansfer of the Propeity)and shall ��R-"��==
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<br /> • ' continue So occupy the Property as Borrower's principal residence for az least one year after ihe date of occupancy. �--, ., y
<br /> , unless Lender detesmines thai requirement will cause undue hardship for Borrower,or unless estenuavng circumstances �,-'�.�„*,,�,�•,Y,�
<br /> eaist airich are beyond Borrower's control.Borrower shall norify Lendea of any extenuating circumstances.Bosower j•.=- - _ _
<br /> ' � shall noi cornmit aaste or de,stroy,damage ar substantially change the Propeaty or altow the Property to deteriorate, �,,.
<br /> � reasonable wear and tear ea ted.Lender may inspect the Pro �f the Pro �s vacant or abandoned or the loan is ���---=`
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<br /> � •'':y in defaW4 Lender may take reasonable action w protect and presen+e such vacant or abandoned Ptopeaty. ::�..�;,����,
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