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201201012
<br /> A�1y application o�f payments, insura��ee proceeds, or Miscellaneous Proceeds to priueipal due undec the Note
<br /> shall ��oC extend or postpone fl�e due daTe, or cha�ige the a�nount, of the Periodic Payments.
<br /> 3. Nlmds for Escrow IEemS. Borrower shall pay to Lendec on the day Periodre Payinents nre due undcr G�e
<br /> Note, unCil �he Note is paid In full, a sum(the "FUnds") to provide for paymeut oF amounts dae for: (a)taxes
<br /> and assessinents and other itams which can aCCain priority ovec this Security Instrumenl as a Tien or �
<br /> encumbrance on the Property; (b) leasehold payments or ground rents on the Properry, if any; (c)preiniums
<br /> for airy and al] insurancc required by Lender under Section 5; ttnd (d) Mortgage Insuruice premiums, iP any,
<br /> or any sums payable by Borrower Yo I,ender in lieu of the payment of MorCgage Insurance pxemiums in
<br /> accordance�vith the proviaione af Section 10. Thesc iCems are called "Escrow I[ems." At oxigination or at
<br /> any �ime during the Yerm of die Loan, Lender n�ay require ehat Community Associution Dues, Fees, and
<br /> Assessments, if any, be escrowed by Rorrower, a��d such duea, fees ancl assessmenCs sliall Ue an Eserow
<br /> Item. Borrower shtill prompkly furnish Co Lender a11 uotices of amounfs to be paid�tvder chis Scction.
<br /> Borro�er shall pay Lender U�e Funds for Escrow Stems unless I,ender waives Borrower's obligation to pay
<br /> the Funds Por any or all �secow Items. Lei�der may waive Borrpwer's obligation to pay to I,ender Funds for
<br /> any or all Sscrow Items af any time. Any such waiver may only Ue in writing. It� tha event of sucl�waiver,
<br /> Borrower shall pay directly, when and where payaUle, the aniounts due for any Fsarow Items for whioh
<br /> payment of Funds has been waived bp Leuder and, if Lender requires, shall fur�ilsh to L,encler receipts
<br /> evidencing such payment within such time period as Lender may require. Borrower's obligation to m�lce
<br /> such payments and to provide receipts shall Por all purposes be deemed to be a covenant and agreement
<br /> cont2ined in diis Secur3ry InstrumenC, as the phrase "covenvrt.md agrcemcnt° is used in Section 9. If'
<br /> BorTOwer is obligated to pay Nsc�•ow Items directly, pursuant to a waiver, and Borrower f.iils Co pay the
<br /> amou�it due for an Escrow Item, Lender may exercise iCS rights under Section 9 u�d pay such amount and
<br /> Borrower shall Chen be obligaCed ttnder Section 9 to repap fo Lender 1ny such tunount. Lender may revoke
<br /> the waiver as to any or all Escrow ICems at any [ime by a notiee given in aiccordance witfi SecCion 15 and,
<br /> upon such revocatiov, Borrower shall pay to Lender all Fundy, and in such amou�ts, thaY are[hen required
<br /> under this Section 3.
<br /> I.endex may, fit ury time, collect and hold Funds in an amount(a) su�FPicient to permit Lender to apply the
<br /> Punds at the time specified under RPSPA, and (U) not to exceed the maximum amou�it x lender can require
<br /> under RESPA, I.,ender shall estimate the umount of F`unds dua on tlie basis of current daCa and reasonaUle
<br /> esCimates of expeuditures of fuCUre}?scrow ICe�ns or otl�exwise in accordance wiCli ApplicaUle Law.
<br /> The Funds shall be held iu au institution whose deposits are insured Uy a federal agency, inatiumeutttlity, or
<br /> entlty (including Lender, if Lendcr is an institution whose deposits are so insured)�or iu any Federail Home
<br /> I,oau Bank, Lender sl�all apply the Funds to pay tlie Escrow Items no�later ehan the time speciYled under
<br /> RESPA. Lender shall noC charge Bocrower for holdiiig and applying the Fttuds, annu�illy analyzing the
<br /> escrow account, or verifying Che L�scinw Items, unless Lender pays Borrower i�iterest on the Fnnds and
<br /> Applicable L.aw permiCs I,ender to malce such a charge. Unless av agreement is made in writing or
<br /> Applicable Lflw requires in[erest to be paid on the Punds, Lender shall noC be required to pfly Borrower any
<br /> inCeTest or earnhzgs on fhc Funds. Borrower avd Leuder can agxce in writing, liowever, UiaC intcresC shall I�e
<br /> paid on the Funds. I,ender sl�all give to Borrower, wiChouL charge, an aununl accounting o'f the Funds as
<br /> rcquired by RFSPA.
<br /> If'therc is a surplus of Funds held in escrow, ae defined uoder RESPA, Lenc%er shall account to Borrower for
<br /> Uie excass funds in aceardance with RESPA. If there is a shorfage of Funds l�eld in eserow, as dafined undcr
<br /> RESPA, Lender sl�all notify Borrower as required by RL�SPA, and Borrower shall pay to Lender the amount
<br /> necessary to mnlce up the shorCage in accordance with RESPA, but]n no more thnu 12 inonthly payments. If
<br /> thera is a dcficicncy of Funds l�eld in escrow, as deflned under RESPA, Lender shall nofify Borrqwer as
<br /> � � zn000�sz
<br /> NG�RA51<A-Single Family-FOnnia Mea/FreAtlla Mac UNIfOPM INSTRUMENT Porm 3028 1lOt
<br /> VMP� VMP61NE11110b)
<br /> WOlters IUUWOr Flnonolel Servloes Pape 6 af 1"/
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