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201201749
<br /> Any applicatiou of paymen�s, insur.uice proceeds, ot Miscellaneous Proceeds to principal due under Il�e NQte
<br /> shal] not extend or posipnne Che due date, oi change the unount, oF the Periodic Payments.
<br /> 3, PuncLs for Eserow Itcros. Borrower shall pay to Lender on I:he day Periodic Paymcnts azre duc under tlze
<br /> Note, until the Nole ia paid ii�full, 2 swn(Yhe "Funds") Yo provide for payment of amowits due for: (a) taxes
<br /> and assessnzcnfs ai�d ottxer items which c.m attaii��riority ovec tliis Seeurity Instrument as a lien or
<br /> encumbt�ance on the Property; (ti) leaschold payilicnts or groui�d rents on the Property, if�y; (c) �remiums
<br /> Por any and al] iusuiance required by Lender un,der 3ection 5; and (d) Mnrtga^c Lisurancc prciTiiums, if any,
<br /> or any smns payable by IIarrower Yo Lender in lieu of[he paymenL of MorCga�;e Insurance premiums in
<br /> accordance wiCh thc provisions of Section 10. Tlxese itetns are called "Esccow Items." At origivation or at
<br /> any time during the fern� nf the T.oan, I,euder may raqttire thaf CotwmGniTy Assoc.iation Dues, Pees, and
<br /> Assessmente, if any, Ue escrowed by Borrower, ai�d such dues, fees aild assessnieilts shall he tu� Escrow
<br /> Ieem. Borrower shaIl promptly furni�sl� to Lender al] notices of amounts to be paid ni�der tliis Section.
<br /> Borrower shall pay I.ender the Punds for Escrow Ifcros unlcss T;ender waives Eorrower's obligation to pay
<br /> thc Punda for a�iy or all Escrow Items. Lender may waive Borrower's obligaeion to pay to Lender Funds for
<br /> any or all EsCrow Items �t any timc. Any such waiver may only be in writing. In tlie eve�lt of such waiver,
<br /> Bon�ower sl�all pay directly, wlien uid wliere payable, the �uno�mCS due for any Fscrow Items Por which
<br /> payment of Funds has bcen waived by Lender a�d, if Lei�der requires, sliall furnish to Levder receipts
<br /> evidencing sti�ch payment within such [ime period ay Lender may rcyuirc. Borrower's ubligation to malce
<br /> such pfiyments and to provide xeceipts sl�all for aIl pur�oses be deemed to be a covenaE�t a��d agraemenC
<br /> eontalned in this Secucity InsCrnment, as the phrase "covenant and agreement" is used in Section 9. If
<br /> Borrower is obligated to pay L�scrow ICems directly, pursuant to a waiver, and Bon�o�ver fails to pay tlie .
<br /> amount due for an Escrow Item, Lender ma}+ exercise its rights under Sectioi� 9 and pay such amount aud
<br /> Borrower shall tl�en be obligated under Seotiou 9 to repay To T,ender any suc(z amouoY.. i.ender may revoLce
<br /> the waiver as to any or all Escrow Items at any time by a norice given in aceordance �uith SecCion 15 and,
<br /> upon such revocaCion, Borrower shall pay to L,evdee all Funds, and in sucl� amounts, that fire tUen required
<br /> under this Scction 3.
<br /> Lcnder may, at any time, collecC and hold Furids in an �inount(a) sufficieiiE to pernzit Leuder to apply the
<br /> Funds at the time specified under RFSPA, a��d (b)not to exceed tl�e maxin�um amount a lender can requirc
<br /> under R�SPA. Lender shall estimate tlie amount of Punds due on tl�e basis of eurrent daCa and reasonaUle
<br /> �estimates of expenditur�s of future Eserow It�ems or otherwise in accordance w3t1�Applica6la L aw.
<br /> T(ie runds slia(I ve held in an instituYion wliose deposits are�isured by a federal agency, insriurnentality, or
<br /> evtity (including Lender, if Leiider is an institution wl�ase deposits are so insured) or in ai�y Federal Ilame
<br /> Loan 13ank. Lender shall apply the Punds co pay lhc Esecow ltems no IaCec tlian Che time spcaified under
<br /> RIISYA. Lender slinll not cl�arge Borrower for Iiold'rng a�d applying tl�e Funds, annually a�alyz'mg the
<br /> escrow account, or verifying the�scrow Ttems, unless Lender plys Borrower interest on tl�e Punds and
<br /> ApplScable Law pennite Lender 1:o make such x charge. Unless an agreement i5 mado in writtng or
<br /> Applieable Law requires interest tn be paid on the Fun�ls, Lender s1�all not be required to pay Borrower any
<br /> iuterest or earnings on khe Funds. Borrower aud Lender ca�i agree in writing, l�owever, tl�at interest shall be
<br /> paid on t�ie Pu�ds. Lender shal] give to Bo�rower, wiChout charge, a�i annual accoui�l.ing of Ihe I1mds as
<br /> required Uy RLSPA.
<br /> If tliere is a surplus of Runds held in escrow, as defiued under R�SPA, Lender shall ticcount to Borrower for
<br /> the excess funds iii accordance witlr RESPA. If there is a sl�ortage of Funds held in eccrow, �as defiized undar
<br /> RLSPA, Lender sliall notify Borrower as ��equired by RBSPA, and Borrower s1�all pay to Lender tl�e amount
<br /> neeessary ko malce up the sho�tage i�a accw�dance with RF.,S,PA, but in no more than 12 monthly payinents. If
<br /> tl�ere is a deficiency of Pmids l�eld in esc�row, as defined under RESPA, Lender slial] no[ify Borrower as
<br /> 2400049G
<br /> Nf-6RASI(A-Singlc Family-Pannle MaelFretldle Mac UNI�ORM INSTRUMENT Form 3029 1/01
<br /> VMP p VMP6WEI I��06�
<br /> Wolters Nlowor finanalzl Serviaes PaQe G of 1]
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