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<br />gremiums, if any, or any s�ims payable bp Barrower to Lender in Iieei of the payment of Mortgage
<br />Insvrance prermums in accordancs with the pmvisions of Section 10. These items are catl�i "Escrow
<br />Items." At arlginaEion or at any time during the temi of tl�e Loan, Lender may require that Co�unity
<br />Associarion Dues, Fe,es, and Assessments, if any, be escrawed bp Borrower. and such dues, fe�s and
<br />assessments shall be sn Escrow Ttem. Borrower shall promptty furnish to Lender ali notices of amaunts to
<br />be paid under this Sectian. Borrower syall pay I.eacler the Funds for Escrow Items unlese Lender waives
<br />Boxrower's obligation co gay ihe Funds for �y or a�t Escrow Items. Leader may w►aive Bflrrower's
<br />obligation to pay to L,e�der Funds for agy or ail Escrow i�ems at any Ei�. Any such waiver ma9 �Y be
<br />ia writiag. In the evenr of such waiver, Borrower shaIt pay @irectly. when and where payab�e, Ehe amaumts
<br />due for any Escrow ltems for which payment of Funds has b�n waived by Lender and, if Lender requires,
<br />shall furnish to Lender receipts evidenciag such payment within such titt� period as Leuder may requi�'e•
<br />Borrower's obligation to rnake such gayments and to provide receipta ahall fo� all ptuposes be deemed to
<br />be a covenant and agre�ment contained in this Seca�rity Inst�ument, as the pltrase "covenant and. ag►�e�ment"
<br />is used in Section 9. If Bortower is obiigatec� w pay Escrow Items directly, pu�s�ant to a wa�er, and
<br />Barrawer faiLs to pay the auutunt due far an Escrow Item, Lender may exereise its rights under Section 9
<br />and pay such amoe�nt a�l Barrower s�all then be obligated under Section 9 to repay to Lender aay such
<br />amount. L.ender may reeake the waiver as fa any or sil F.scrow Items at any time by a notice given in
<br />accordane� with Section IS and, apon such revacation, Borrower shall pay to Lender all runds, and in
<br />such amounu, thac are then required u�er this Se�tion 3.
<br />Leader may, at any time, co11�t and hold Funds in aa anmunt (a) sufficient w peraiit Lender ts apply
<br />t�e Funds at the time specifieci under RFSPA. and (b) nat to exc�ed the maximUm amount a lender can
<br />reqnire uader RESPA. Lender shall estimate the amount of Fiutds due on tite �asis of currenc data and
<br />reasoaable estimates of expernlliures of futnre Escmw Items ar otherwise in accordance with App]icable
<br />Law.
<br />The Fuuds shatl lse held iu an institution whose deposits are insnred by a federal agency,
<br />instrumentality, or entitp (including Lender, if Lender is an insdtntiaze whose deposits are so insured) or in
<br />any F�ierai Home Loan Bank. Lender shatl apply the Fnnds ta pay the F.�crow Items no later than the time
<br />specified under RESPA. Lender shali not charge Barrower for hoIding aad applying tI�e �unds, annualty
<br />analyzing the escrow accouat, or verifying tire Escmw Iterns, unless Lender gays Barrower interest �n the
<br />Funds and Applicable Law germits Lender to maS�e such a charge. Untess an agreeu�eni is made in writing
<br />or AgpIicable Law requires interest to be paid on the Funds, Lender shall not i� r�quired to pay Horrower
<br />any interest or earnings on the Funds. Borrower and Lender can �gree in writing, howeve�r. th2d interest
<br />shall be paid on the finnds. Lender ahall give ta Barnower, without charge, an a�maal accow�ng of the
<br />�nds as raquired �y RESPA.
<br />If theee is a surplus af Funds held in escraw� as defimed undez RESPA, Lender shall accaunt w
<br />Barro.ver for the excess f�uids in ac.cordance with RESPA, if ther� is a sb.ortage of Frmds held 'm escrow,
<br />as defined under RESPA, Le,ader shall notify Borrower as required by RESPA, an� Borlower shatl pay to
<br />Ltnder the amaunt necessary to ma�e up the shortage in accordance vPith RE5PA, but in no more tF�aa 12
<br />monthty payments. If there is a deficieacy of Punds held fn e�row, as defined under RESPA, Le�er shall
<br />notify Borrower as required hy RESPA, and Borrower shalt pay to Lender the ameuut necessary tn malce
<br />up the deficiency in accordance with RFSPA, bnt ia no more than 12 monthly payments.
<br />Upan payment in fiill of ali sums seeure�i by ihis Security Instrument. �er shalt promptty refund
<br />to Barrower any Funds held by Leader.
<br />4. Charges; I.iens. Borrower shali gay all taxes, a�ss�ents, charges, fines, and imgositians
<br />atmbucable to the Pinperty which caa attain priority over chis Setvriry Instrus�nt, leasehold gayments or
<br />ground rents on the Progerty, if aay, and Gammunity Associatian Dues. Fees, and Assessments, if any. To
<br />th� extent that these items are Escrow Items, Borrower shall pay them in che manner grovide�3 in Se�ction 3.
<br />(� -SG(NE1 t0006i.a� Pege 6 of 15
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<br />Form 3028 7/07
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