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<br /> Any [ipplication of payments, insurancc procecds, or Miscellaneous Proceeds W principal due undec fhe No[e
<br /> shall not extend or postpone the due date, or change the amount, oP the Peciodic Payinents.
<br /> 3. I+'m�ds Y'or Escrow items. Borrower shall pay to Lender on the day Periodic PaymenCs are due nndec the
<br /> Note, untll the Note is paid in full, a sum(the "Funds") to provide for paymeiit o�f unounts due for: (a)taxes
<br /> and assessmcnts and oCher iCems which can attain priority over this Securi[y Iustrument as a lien or
<br /> cncumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c)premiums
<br /> for any and all insurance required by Lender under Section 5; and (c� Moxt�;age Insurance premittms, if any,
<br /> or any smns payaUle Uy Borrower to Lender in lieu oY the paytnent of Mortgage Insurance premiums in
<br /> accordance with the provis9ons of SecCion 10. 'fhese i[ems are called "Escrow Items." AC origination or xt
<br /> any time during Ihe Cerm of the Loan, Lender may requiie that Connnuuiry Association Dues, Fccs, and
<br /> Assessments, if any, be escrowed by Borrower, and such dqcs, Pees and assessments Rhall be an�sarow
<br /> Item. Borrower shxl] promptly furnish Co Lender all notices of amounts to be paid under this Section.
<br /> Boirower shall pay Levder the Funds for Eserow Items unless Lender waives Bo�rower's obli�;a�ion t'o pay
<br /> thc Funds for any or al] Escrow IYems. Lender may waiue Borrower's obligation to pay Co Lender Funds Por
<br /> any or alI Eacrow Ikems aC any time. Any such waiver may only be in wriling. In the eve�t of sueh Waivei,
<br /> Borrower shall pay directly, when and where�ayubte, the amounts due Por auy Escrow Iten�s for which
<br /> payment of F1mds has Ueen waived by Lender aud, if Lender requires, shall furnish to Lender receipts
<br /> evidencing such payment wiChin such cime period as Lender may require. Borrower's oUligation to makc
<br /> such payments and to pravida ceceipts sliall for all purposes be deemed to be a coventtnc and agreement
<br /> contained in diis SecuriCy Instrument, as tl�e phrase "coveiiant and agrcemcnt" is used in Section 9. If
<br /> BorroweT is obligated to puy Escrow Iteme d3recCly, pursuanC ta a waiver, and Borrower fails to pay the
<br /> xmount duc Por an Escrow Item, I.ender may exereise iYs rigltts under Section 9 and pay such amoanC and
<br /> ]3orrower shall then be obligaYed under 3ection 9 to re�ny w Le��der any such amaunG Lender may revoke
<br /> Che waiver as to any or all Escrow Items at u1y time by n notice�iven in accordance with SecCiou 15 and,
<br /> upon sucU revocation, Borrower shall pay to LendeT all Funds, and in such amnunts, ChaC are theu required
<br /> under tliis Section 3,
<br /> Lerider may, aY uiy time, collect uid hold Funds in an amount(a) suPficient to permit Lender to ttpply tlle
<br /> Punds at the time spscified under RESPA,ancl (b) not to exceed the maximum amount a lender cn�i require
<br /> uvder RESPA. Le¢der shall cstimalc fhe amount of Funds due oi�tlie basis oP current daGi tmd reasonablc
<br /> estim�tes ofexpendiCUres of future�scrow Itwns or otherwisc in accocdanec wi[h Applicahle Law.
<br /> Phe Funds s1�all be held in an instiiution whose deposits are insured by a fcdcral agency, instrumentlLity, or
<br /> entity (including Lender, if Lencter is an institution whose deposits are so insared) or in any Pedersil IIome
<br /> Loau Be�nlc. Lender shall apply Che Fl�nds Co pay the Escrow Iteme uo later Yl�2n the time specitied u�ider
<br /> RFSPA. Lcnder shall not charge Borrower for holding and n�plying the Punds, �mnually xnalyzing the
<br /> escrow aceounti, or verifyiug the L�ecrow Items, unless Lender pays Borruwer intcresl on Che Funds and
<br /> Applieable Law permits L,ender to mal<e such a cliarge. Unlcss an agrcemenC is made in �c�riting or
<br /> Applicable Law requires interest tv be paid on the Fltnds, I,euder shall not be required Co pay Borrower any
<br /> interest or earnings on the Flmds. Borrowcr and I.ender ean agree in wriCing, liowever, tha[inCerest shall 6c
<br /> paid oii the Fui�ds. Lendcr shall give to Borrqwer, without chlrge, av annual accouiitiiig of thc Funds as
<br /> required by RNSPA.
<br /> IP there is a surplus of Funds held in escrow, as defiued under RESPA, Lendcr shall account to Bnrrower for
<br /> d�e excese Punds in aocoxda�lce wiCh RESPA, IY there is a shortage oP Nunds held in eserow, as defined ui�der
<br /> RESPA, Lender shall noiify Borrowcr as required by RFSPA, and Borrower sl�all pay to Lencler the anioant
<br /> nec:essazy to makc up the shortage in aceordance wieh RL�SPA, Unt in no more [han 12 moi7thly payme�ts. If
<br /> there is a deficiency of Funds lield in escrow,as clefi�ed under RESPA, Lender shall notify Borrower as
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