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� � 201201757
<br /> Any applicauon of payments, insurance proceeds, or Miscellaneotvs Proceeds to principal duc wtder the Note
<br /> shall not extead or postpone the due daCe, or change the auioun� of fhe Period'ac Payments.
<br /> 3. Funds for Escrow Items. Barrower shall pay to Lender on the day Periodic Payments are due under the
<br /> Nofe, imtil the ATpte is paid in full, a sum (fl�e"FuncLs")to provide for payment of amouats dne for. (a)taxes
<br /> and assessments and other items which can attain priority over this Security InstrLUnent as a lien or
<br /> encumbrance on the Pioperty; (b} leasehold paymenis or gound rents on the Proper[y, if any; (c)premiums
<br /> for any and all insurance required by Lender imder Seckon 5; and(d)�_NSortgage IYisurance premiiuns, if any,
<br /> or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in
<br /> accordance with the provisiovs of Section 1Q Tkese items are called"Escrpw Items" AT oxiginarion or at
<br /> any time during th�term of the Loui, I,ender may require that Cominunity Association Dues, Fees, and
<br /> Assessments, if any, be escrowed by Borrower, and.such dues, fees and assessments shall be an L'sero�v
<br /> Itcm. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Seetion.
<br /> Borrower shall pay Lender khe Funds for Escrow Items unless Lender waives Borrower's obligarion to pay
<br /> the Funds for any or all Escro�v Items. Lendcr inay waive]3orrower's oUligation to pay to Lender Funds for
<br /> any or all Escrow ltems at any tiine. Any such waiver may only be in writing. In the event of such waiver,
<br /> Boreower sha11 pay directly, when and where pay�Ule, the amounts due for�y Escrow Tfems for which
<br /> pagment of Funds hzs been waived by Lender and, if Lender requires, shall furnish to Lender rec;cipts
<br /> e�7dencin�such paymenl within auch tune period as Lendcr may require. Borrower's ohligalion to make
<br /> snch payments and co provida receipts shall for all piuppses be deemed to be a covenant and ageement
<br /> contained in this Security I.nstrument, as the phrase"covenant and agreemenY' Is used in Section 9. If
<br /> Borrower is obligated to pay Escrow Items direcLly, pwsuant to a waiver, and Boixower EtiJ.s to pay ihe
<br /> amount due for an Esc*ow°Item, Lender may exercise its ri�ts under Section 9 and pay such amount and
<br /> Rorrower shall then be obligated under Secrion 9 to repay to Lender any such amount. Lender may revoke
<br /> the waiver as to any or all Escrow Iteans at aay tjme by a notice given in accordance wiYh Secrion IS and,
<br /> upon such rcvocation, Boaower shall pap to Lender all Funds, and in such ainounts, that are then required
<br /> mider this Seclion 3.
<br /> Lender may, at any time, collect and hold Funds in an amount(a) sufficient to peruiit Lznder to apply the
<br /> FundS at thc fime specified under RESPA, and(U) not to exceed fhe ma�mum amounE a lender can require
<br /> under RPSPA Lender sha11 estimate the amount oF Funds due on the basis of ciurenT data and reasonable
<br /> estimates of eapenditures of future Escrow Ltems or otheawise in accordanca with Applicable Lav✓.
<br /> The Funds shall be held in an institurion wl�ose deposits arc insured by a federal agency, instrumentality, or
<br /> entity(including Lender, if Lender is an insritution whose deposits are so insured) or in any Pederal Home
<br /> Loan Bank, Lender shall apply the FLmds to pay the P.scrow Items no later than the time specified under
<br /> RE,SPA Lender shall not chaxge BorroweT for holding and a�plqing the Fimds, uu�ually azialyzin�the
<br /> escrow account, or verifying the Escrow Items, unless Lender pays Bonower interest on the Funds and
<br /> Applieable I.aw permits Lender to inalee such a charge. Unless an agreament is made in wrTting or
<br /> Applicable Law requires interest to be paid on the Funds, I,ender shall not be required to pay Borrower any
<br /> interesE or earnings on the Funds. Boirower and Lendcr can agree In writing, however, that interest shall be
<br /> paid on the Fmids. Lender shall �nve to Borrower, wit7iout charge, an annual accounting of the Funds as
<br /> required by RESFA.
<br /> If there is a gurplus of Funds held In escrow, as defined under RE$I'A, Lender shall acconnt to Barrowzr for
<br /> the exeess funds in accordance wlth RESPA. lf fli�e ia a shorCage of Funds held in escrow, as defined under
<br /> RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to I ender the aniount
<br /> necessary to make up fl�e shortage in accordance with R�SYA, but in no more than 12 monthly payments. If
<br /> there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as
<br /> 2:GD0513
<br /> NFBRr:SKASingle Famity-Fannie hiaelFretltlie Idac IINIF02d INgTRUf.1 ENT Form 3028 t l01
<br /> Vhi P O
<br /> W olte:e Kluw er FinanGel Services VM P6(NE)(1105J
<br /> Pa5'-5 af 1]
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