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201201759
<br /> A1�y application o1'payments, insur�tnce�roceeds, or Misc;ollaneons Prooeecis to principnl due tmdor the Not�
<br /> shall not extcnd or poetpone the due datc, or change the amouvt, of the Periodic Pay�nents.
<br /> 3. Pmids for l;scirow Itoms. Borrower shr�11 pay to Lendex on tlie day Periodic PaymenCe are due under the
<br /> Note, imtil Chc Nota is paid in ftall, a smn (t1�e "Puuds")to providc for paymenC of amoturts due fox: (a) taxes
<br /> uid assesements u�d other items which cen attain priority ovar this Socivity Instrument as a lien or
<br /> c��cuanbrance on the Pro�erty; (b) leasehold pnyinents or gsound renCs on the Property, iF any; (c)preminms
<br /> foc any and a11 insuras�ce xequired by],ender under SeoHon�; aiid(d)Mortgage Insm'twoe prem'rwns, if any,
<br /> or any sLUns payaUle Uy Borrawex to Lcnder in lieu of the paymcnt of Mortgagc insurauce preuvums in
<br /> accorduroe with C7ic provisione of'Section 10. 'Chese items are called "Fscrow Items." At origination or aC
<br /> airy tima dm�ing the term of thc Lozm, Lender rnny require that Community Association Ducs, Cees, and
<br /> Aesessn7enCe, if a+�y, Ue escrowed by Borrowee, and such dneF, fces and assessn7enes shall be an rscrow
<br /> ltem. Borxower ahall protnptly fnrnish to Leiidcr all notices of<vnonnts to be paid undor E1zis Section.
<br /> Borrower shall pny Lender thc Ftmds for Escrow ICenns imless Lendex waiva� 'Borrower's oblig�tion to pa�y
<br /> tho HLU1ds �For any or all E+scrow Itcros. Lender may waivo}3omowar's obligation to pay to Lender Funde for
<br /> any or al] Rscrow Itema at any time. Any sLich waiver may only be in wriYing. In thc event of auch waiver,
<br /> Borrower sl�all pay direcfly, when and whoro payable, the amotmCe due for any Esorow itcros for wluch
<br /> payment of Pmids hae Uoc��w2ived by Lender nnd, if],ender requires, shall ftuiush to Lencier rcccipts
<br /> ev'rdoncing such paymen[within such time period aa Lender may require. Borrower's oUligation fo mpko
<br /> such pa}�n�uts aud tio provide receipCs shall for a11 purposes�I�o dcemed to be a ooveua�tt and Tgreement
<br /> contnined in thie Secu��ity IusCrwneait, pe the phrase "covenant atnd agrecmenti" is used in SecHon 9. If
<br /> Borcower is obligated Co pay L.+scr�w Itieme directly, pureutuit fo a waiver, and 8oi�rowar faila Co�pay thc
<br /> ainount due for an Lscrow Item, Le�ider may exercise ita rightn nnder Section 9 and pay such einount and
<br /> Boirower sl�all tUen be obligated under Soction 9 to repay to Lender auy such nmount. Lender ma�y revoke
<br /> the wniver n�to any c�r all Escrow IEems�e�ny time Uy a uotice given in accordance with Sa;tiou 15 aud,
<br /> Lil�on such revocafion, Borrower shall pay to Leuder al] l�unds, aaid in eueh aivouuts, that are flien requiied
<br /> undcr this Section 3.
<br /> Lc�7der may, at any rime, collecC and hold Ftuids in�n atnount(a) eulFicient tio permit T.ender to al�ply ttre
<br /> Punds at'tUe time speaitied under ItESPA, and(b)iiot to exceed lhe maximmn amounC a lcnder cau require
<br /> tmder RESPA, Lovdcr sha11 estimatie the amount of H'unds due on the bneis of ciu'rent data�uici rcasonab1e
<br /> esCnnatcs of expendittues of fu6ure L+scrz��v TCems or otiherwise in accordauce with Applicnble T_,aw.
<br /> Tl�e N�mds shall ba held in en inatituLion wbose depositis ere ineiu'cd by a federal agency, instrtui2enti�lity, or
<br /> entity(includinb l,ender, iPLender is nn instituticm whose depoeits ue so inswed) or in nny Fcder2l Home
<br /> Loen Barik. I,endcr sha11 ;�pply the Funds to pny t�hc Nsorow Items no later than the time speoited undc�r
<br /> RFSPA. Lenelex shall noe chu�go 13orrower for holdiug�nd applying the Punds, annually zik�lyzing the
<br /> escrow account, or verifying the Escrow items, unlesa Lender pays 13orrower iuteresC on tlte Punds aAid
<br /> Applicable�Lxw pe��mit�s Lander to make sucl� a chaige. Uuless an agrecment is innde in writing or
<br /> Applicable Law raqtur�.s inferest to Ue paid ou Che FuiicLs, I,eiidar ehall nat l�c roqau'ed tio pay Borirower any
<br /> interest or eernittgs on the Fmids. Bonower and Lender ou�agreo in writing, however, that intereat shall be
<br /> paid on thc FLmds. Lender sh�tll give to Borrower, witihout charge, an annual accounting of the Ptuicls as
<br /> required by P�SPA.
<br /> I'F there is a snrplus of�w�ds held in escrow, as defined wider RESPA, Lender shall account to Boreower For
<br /> the excess fimcis in aocordaiacc with RPSPA. If Yhere is a shortage of'Funds held in escrow, as de�ined wide�
<br /> RNSI'A, Lander ahnll notify Borrower ae required by It�SPA, and l�orrower shall pay to Lender the amomi�
<br /> neoessary to maka up llie shortflge in accordsmce witli ItLSPA,Uuf in no more than 12 monthly payinents. Tf
<br /> there is a deficie�lcy of Punfts held in escrow, as dofined under I2ESPA, Lcnder s1�a11 notify Borrowcr es
<br /> zaooaeoa
<br /> NE64ZA9KA-6ingle Famlly-Fennio MflalFreAdie Mno UNIFORM IN3TRUMENT Po�m 3D26 1107
<br /> VMP(y VMPB(NE)(41061
<br /> Walfera Kluwer Financlal 3erNces Page 8 oi 17
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