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<br /> 1 b Leuder for Esaow Items exceed the amo�nts Perm'�d w��id by RESPA,Lender shall � � : � —
<br /> If the amounis he d y
<br /> account to Boirower for the excess funds as required by RESPA. If the amounLS of funds held by Lender at any t�e E• ' '
<br /> " are not sufGaent w pay the Fsaow Ite�s when due,Lec►der may norify the Bonower and requue Borro�ver to make up �. :_ : , _. .,- -- _
<br /> the sho:tage as pemuued by RFSPA. , . � �
<br /> 'F�e Fscrow Funds are pledged as addiuonal security for a]I sums secured by this Security Instr�meat If Borrower .'..;.�
<br /> tenders to Lender the full paYmeat af all such sums,Borrow�'��un�������d°has nom t becom�e '
<br /> all installment ite�ns (a). (b), aud (c)and aay mortgag _ . . ..
<br /> obligaLed tn pay to the Secretary,and Lenda shall pmmpdy refund any excess funds w Borrower. Iinmediately prior to `. .
<br /> a foieclosure sale of ihe PrapatY or its acquisition bY Lender,Borrow�'s account shalll be credited with any balance . .: `
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<br /> = remaining fo;aIi snstallments fcr iteals{a?,N?,2n�(�)• �1 and 2 shall be applied by Lender as follows. - :-_-- ` , --
<br /> � 3.Applicat�on of Payffients.All payments under P�S�P � , , ' , . '
<br /> �,to the mortgage insu►annce premium to be paid by Lendes to the Secretary or to the monthly charge by the • �... ;- _.
<br /> a ��, {t...a�,..���.
<br /> SeQemrY ins�d of the monthly mortgage insurance premium; � �<�=��
<br /> t"
<br /> c,��,w amy taxes,special assessments,teasehold payments or ground renis,and fire,flood and other hazard , �r.., -
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<br />. ins�uance premiums.as recinired: , ' .-.-:,:-
<br /> 'Ifiird.to interest dne under the Note; � _ _ _ ..
<br /> go�•��rion of tha principal of the Note:and .;� J rt ��;_
<br /> �,to late cbarges due anrler the Note. whethe,r - , , �--��-�
<br /> • 4.Ffre,Ftaod and Ot6er Hazard lasurance.Borrowea shall insur�e all improvements on[he Property, •...G,-
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<br /> now in existence or snbsequendy erected a�►st a°Y ha�d�,��ti�,�d�°ntingencies.including 6re,for which �� �
<br /> , Lender reguires inswrance.This insurance shall be maintained in the amounts and for the periods that L.ender requires. . :�. �� , �."':' �-.
<br /> • B o i ro w e r s h a ll a l s o i n s u r e all im p mvements on the Ptopercy,wheiher now in existence ar subse4uendy erected,agaimst -
<br /> All insutance shall be cairied wi t h companies app r ov e d b y L e n d e�.
<br /> � loss by floods w t he extent required by We Secretary. � :�``
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<br /> .' �e�n�policies and any renewals sba11 be h e ld by I.ender and sha11 inc�ude loss payabte clanses in favor of,and , : s
<br /> ' in a forai accePtable to,L.ender. f of loss if not ' '`�" . �
<br /> In the event of loss.Bonowec shall give Ixnd�immedi,ate notice by mail.Lender may make p� - •. -
<br /> b Boirower.Faeb insutance company conceaned is hereby authorized and directed to malce payment for �. ,-
<br /> • made PromP�Y Y . � `:
<br /> to Lendea.instead of to Borrower and w Lender loindy.All or any part of the insurance pmceeds maY ,�::'."
<br /> • such loss direcdY '� ,
<br /> be applie�by Leudea,at iLs option,either (a) to the reduction of the indebtednesc nnder the Note and this Securiry �+�, . ; T
<br /> Insuument,first to ai►y delinquent amounts ag�lied in the ordar in paragraph 3,and then w prepayment of Principal,°I ,_ .;.,.:. _ �;`F. ..
<br /> , � ed Pro An hcation of the proceeds w�he principal shall not e�ctend '`� .,
<br /> (b)to the restotation or zepair of the damag �Y• Y aPP� -":�. - ,
<br /> or postQone the due date of the monthly payments wiuch are referred tn in paragiaPh 2.or change the amount of such �:;:�--`. E
<br /> . payments.Any encess insuiance proceads over an amo�mt required w pay all outstanding indebtedness under the Note � .,;,;r,,.., ' ' :.s_,�_;-...
<br /> and this Security Insaument shari be paid to the en6ty tegaUy enaded therew. ��'�
<br /> In the event of forec�sure of this Security Instrument or other transfes of atle to We PropenY���8���e ':.;.��_. ��;��..
<br /> indebtedness.all righb utie and int�est of Boaower in and w in�uance policies in force shall pass to the purchaser. ��.:.� � ,
<br /> S.Occapanc9,Preservatton,Maintenance aad ProtecHon ot the Property, Borrower's Loan Applka4ton. �:�,�,;._,;`�__ •_``'
<br /> I.sasehoids. Borrow�r shall occuPY.establish,ami use the Propesty as Borrower s principal residence within sixty days _�,v.y: -
<br /> aftcr�he execution of thig Securiry Inswment(or within siuty daYs of a tater sale or transfer of the PropeatY)and s1�a11
<br /> � continue to occuAY the Propeaty as Horrower's principal residence for at least one year after the date of oecupancy. �-=--�`=
<br /> unle�Lender determines thai re9uirement will cause undue hardshiP for Borruwea,or unless extenuating circ�amstances y�:-� �-:
<br /> exist which are beyond Borrowea's control.Boaower shall norify Lender of any eat�enuating circumstaT►ces.Borrower f�-_
<br /> � fiall noi commit wagte or desuoy,damaSe or su bs t a n t i a Uy c t i a n g e t h e p r o p e r t y o r a ll o w t h e P r o p e d t y w d e t e n o r a t e. •.� s. _., - _
<br /> ..' reasflnable wear and tear eacepted.I.ender may inspect the P�'opertY if the ProPertY is vacant or abandoned or the loan is ��� : �_
<br /> . t���
<br /> in default Lender may taice reasonable acuon to protECt and preseNe such vacant or abarcdoned Propeay ,-
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