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201201859
<br /> Any application of payincnts, insurance proceeds, or�VIiscellaneous Proceeds to principal due under the Note
<br /> shall not eYtend or postpone d�e due date, ar change the ainount, of the Periodic Payments.
<br /> 3. Funds for Escrow Itemis. Bonower shall pay to Lendes on Lhe day Penodic Payments are due under the
<br /> Note, unril the Note Is paid in full, a sum(the"Funds")to provide fox payxnent of amouffis due for_ (a) taxes
<br /> and assessments and other items which can attain priority over this Security Insiruuieni as a lien or
<br /> encumbrance on the Property; (b)leasehold payments or gound rents on the Property, if any, (c)premiums .
<br /> for any and ail insurance required by Lender uncier Section 5; and(d)Mortgage Insurance premiums, if any,
<br /> or u�y suws payable by Borrower to Lender in lieu of the payment of Mortgage Insurance preaiiwns in
<br /> accorda�lce with the pzovisians of Section 10. These items are called°Escrow Items." At origination or at
<br /> any time during the term of tiie Loan, Lender may require that Community Associa6on Dues, Fees, and
<br /> Assessmenfs, if any, be escrowed by Borro��er, and such dues, fees and assessments shall be an Escrow
<br /> Item. Borrower sl�atl prompfly furnish to Lender all noriees of amounts to be paid undc�r this Section.
<br /> � Borrower shall pay Lender flie Funds for Escrov✓Items unless Lender waives Borrowei s obligarion to pay
<br /> the Funds for any or a11 Escrow Items. Lcnder may�•aive Barrower's obligation to pay to Lende*Punds for
<br /> any or all Escrow Items at any time. Any such waiver may only be in w-riting. In the event of such waiver,
<br /> Borrower shall gay d�ecely, when and where payable, the amouncs duc for any Escrow Items f4r which
<br /> pay�nent of Funds has been waived by Lender and, if Lender requires, shall furnish To T ender receipts
<br /> evidencing such payinent withiu such tune period as Lender may require. Borrower's obligati on to make
<br /> such paymeirts and Yo grovide receipts shall for all purpo5es be deemed to be a covenant and agreement
<br /> eontained in tlus Secnrity Instnmient, aS the phrase"covenairt and a�reemenE" is used in Section 9. ,If
<br /> Borrower is obligafed to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay thc �
<br /> amoimt due for an Escrow Item, Lender may exercise its rights under Seckion 9 and pay such amount and
<br /> Borrower shall then be oUlieatcd nnder Section 9 to repay to Lerder any such amount. Lender ma.y revoke
<br /> the waiver as to any or all.Escrow Items at an�y riine l�y a notice given in aecordance w-ith Section 15 and,
<br /> upon such revocation, Borrourer shall pay to Lender all Funds, and in.such atnouuts, that are then rcquired
<br /> uncler tlus SectiQn 3.
<br /> Lender may, at any time, collecc and hold Fimds in an amount(a)sufficien[to pennit Lender to apply the
<br /> Funds at the tirrie specified under ILESPA, and(b) not to exce�d the xnaximum amount a lender can require
<br /> under RE.SPA. Lcnder shall estimate the amount of Punds due on the Uasis of current data and reasonaUlc
<br /> estimates of e�enditures of futurc Escrow Items oF otherwise in accordance with Applicable L aw.
<br /> The Funds shall be held in an institiition wh�se deposits are insured bq a federal agency, instrumentality, or
<br /> entity(includ3n�Lender, if Lendez is an insfitution whose deposits aze so ins�ed) or in�y Federal Hoine
<br /> Loan Bank. Lender shall apply the Funds to pay the Escrow Iteins no later than the tune specified under
<br /> RESPA. Lender sh:�Il not charge Borrower for holding and applying tlac Funds, annually analyzing the
<br /> escrow account, ar verifying tke Escro�u Items, unless T.ender pays Borrower mterest oa the Fuuds and
<br /> Applicable Law pemuts Lender to make such a cl�arge. Unless an agreetnent is made in writing or
<br /> A�plicable La�v requires interest to be paid on the Funds, Lcnder shall not be requi.red to pay Borro�vcr any
<br /> interesC or eamings cm the Fund.e. Borrower and Lender can agree in writuig, however, that interest shall be
<br /> paid on the I unds. Lender shall give to Borrotver, Rnthout charge, an annual accounfing of the Funds as
<br /> required by RESPA.
<br /> If there is a eurplus of Funds held in escrow, as defned mider RFSPA, Lender shall account to Borrower for
<br /> the excess funds in accordancc with RESPA. If there is a shortage of Punds held in cscrow, as defined under
<br /> RESPA, Lender shall notify Borrower as required Uy RESPA, and Borrotiver shall pay to Lender the amoimt
<br /> necessary to make up the shortnge in accordance with RF,SPA, but m no more ihan 12 monthly payments. ff
<br /> there is a deficiency of Funds lield in escrow, as defined under RESP.4, Lender shall notify Borrower as
<br /> zacoossa
<br /> NFBR4SKASingle Family-Fannie b:aPlFretlCie Mac 11NIFORM INSTRUMENT Fam 3028 1/U1
<br /> VM P OO VM PG(NE)(N OS)
<br /> W cl,ers Kluwer Fnancial Services . Psqe 5 of 1]
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