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� 201200337 2. App11CffiIOfI of Payments or PPOCeedS. Except as otherwise described in this Secliu?i 2, all pnymenh accepted and applied by Lender shal(Ue applied in tl�e following order of priority: (a) interest due under the Note; (b) princlpal due imder the Note; (c) amounts due under Section 3. Such payments shall be applied to cacl�Pcriodic Paymcnt in thc ordcr in which it bccamc duc. Any rcmaining an�ounts shall bc applicd tirst to late charges, seco�d to any ullier amounts due under this Security Ins�rument, and then [u reduce the principal balance of the Note. If Lendee receives a payment from Boerower for a deHnqaenl Yeriodic Yayment which includes a sufGcieul amount to pay any la[e charge due, the payment may be applied to We delinquenl payment and the late chaege. If more Chan one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments If, and to the exten[ that, each payment can be paid in full. To We exlenl that a�ry excess exists after the payment is applied to the fi�ll payment of one or morc Perlodlc Payments, sucli excess may 6e applied to any ixte charges due. Vuluntary pi�epxyinents shall be xpplied first to any prepayment charges and then as describcd in [he Note. Any application of payments, insurance proceeds, or Miscellanenus Rnceeds tu principal due under the Nute shall not extend or postpmie tlie due date, or cLange lhe aruuunt, of the Periudic Payments_ 3. Funds for Escrow Items. Borrower shall pay to Lcnder on tlic day Pcriodic Fayments are due w�der tl�e Note, tmtll the Note is paid in fidl, a sum (We °Fuuds") to prnvide for payroenr of amounts due for: (a) laxes and assessmenh and other items which can attaln priority over this Security Ins[rument as a lien. or encwnbr<�nce on the Prope�ty; (b) leasehnld pnyments or �-oimd rents on the Property, if any; (c) pi�emiums for any and all insurance required by Lender under Section 5; and (d) Morgage Ins�uance premiums, if any, nr any sums payablc 6y Sorrower to Lender in lieu of the payment of MorLgage liu7unnce premium.s in accordance with t}ie prnvisions of Section 10. These items are� called "Escrow Ifems." At originalion o� al any time� during tlie [erm of lhe Loan, Le��der may require [hat Community AssociaCion Dues, Fees, and Assessments, if any, he escrowed by Borrower, and such dues, fees and assessments shall be an Escrow � i[em. Borrower shall prompUy furnish to Lender ali notices of amnunts tu Le paid under this Section. � Borrower shall pay Le�der the Fuods for Escrow Ifems tmless Lender walves Borrower's obligaflon to pay tl�e Fimds for a�ry or all Lscmw ltems. Lender may waive Borrowcr's obligation to pay to Lender Funds for any m�all Escrow Items at airy time. Any such waive� may only be in writing. in the event of such waiver, Borrower shall pay directly, when and wliere payable, [he amounts due for any lscruw Items for which paymeut of F'unds has been waived 6y Lender and, if Lendcr rcquires, shall furnisli to Lender re�ceipls evidencing such payment within such tlme period as Lender may reyuire.. Bnrruwer's obligation to makc ruch payments and to provide receSpls shall for all purposes be decmed Cn be a covenant and agreeoient cuntained in this Security Instrument, as tlie phrase "co��enanl and xgreemenP' is used in Sectinn 9. If Borrower is obflgaled to pay Escrow I[ems directly, pursuant ro a walver, and Borrower fails to pay tlie amount due for an Escrow Itetn, Lender may exercise lls righ[s under Secfion 9 and pay such ammmt and � Borrower shall llien be obligated under Section 9 to repay to Lender any sucl� amount Lender may revoke � the waiver as�to any or ail Escrow Items al any lime by a notice given in accordance with Section 15 and, � upon sucl� rewca6on, Borrower shall pxy fo Lender all Fimds, and in suc�h amounts, that are then required under this Section 3. � Lender may, at any dme, collecl and hold Funds in an amount (a) suffic�ie�nt to�permit Lender to apply tf�e Funds af the time speclfied unde�r RESYA, and (6) nut to exceed the maximum ainoimt a lender can require � under RESPA. Lendcr shall estimate the amounl of Funds due on the basis of carrcn[ data a�d re<�vsonable � estima[es of expenditures of future Escmw Items or otherwise iu acc�ordance wi[h Applicable Law. oon 22sz000v [�+�zaazoaos] NE6R�SK�-Singlc Famny-Fannie Mae�Fretltlie Mac UNIFORM INSTRUMENT WITH MERS Fnrm 3pZtl 110t VMP OO VMPSA(NE)(11O5J.(H) Wolten Kluwcr Finnncial5crvices Pagc 5 of 1J �