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201202001
<br /> Any applictttion oP payments, insurance proceeds, o� Misecllaneoue Proceeds to principal due u�dcr �he N�1e
<br /> shall not extend or postpone thc dua date, or cli2�ige thc amount, of the Periodic PaymenCs.
<br /> 3. I'unds for Escirow Items� Borrower shall pay to Lender on the day Periodic Payments are due uuder the
<br /> Note, until Che NoCe is pald in full, a sum (tl�e "Funds") to prpvide for payment of amounts clue for: (a) taxes
<br /> fuid assessmenCS and oYher items�wliich can attain priority over this Securiry Insh'ument as a]ien or
<br /> encumhrance on Yhe Pcoperty; (b) leasahold paymenfs or ground reuts on tlie ProperCy, if any; (c) premiums
<br /> for any and all insuranee rec�uired by I,ender under Section 5; aud (d) Mortgage Tnsurance prenmiums, if any,
<br /> or any sums payal�le by Borrower to Lender in lieu o'P the paymeut of MocCgage Inst[rance prcmiumc i�t
<br /> accoxdxnce with the provisions oP Seetion 10. These items are callgd "Escrow IYems." At ori�ination or at
<br /> any tin�e during Che terni oP the Loan, I.ender may require that Conunuoity Association Duas, Pees, and
<br /> Assessments, iY any, be escrowed by Borrower, and such dues, Peee and assessments ehall be an Fscrow
<br /> Itero. Borrower shall promptly furnish to Lender [ill noCices of amounCs to bc paid under[his SeG:ion.
<br /> Borrower shal] pay Lender the Punds fnr L+scxow Items unless Lender waives Borrower's obligation to p2y
<br /> the Funds Por any or all Escrow Items. I,ender may waive Borrower's obligation to p�iy ta Lender Pwids f�r
<br /> any or all Nscrow Items at any time, Any such waiver may only be in writing. In tlie�vcnC of such w�lvac,
<br /> Borrower shall pay direclly, whei�and wliere payable, the anlounts due for amy Escrow Itams for which
<br /> payment of Func(s has been waived by Lender and, if Lender requires, shall furnish to Lender rcceipts
<br /> evidencing sucb paymem within sueh time period as Lender may require. Borrower's obligaCion to make
<br /> sucli paynients and to provide receipts shall for all purposes Ue deemed to be a cove�iant a�id agceement
<br /> contained in Yhis Security Instrument, as fhe phrase "covenant and agreemeut" is useci in Section 9, IY
<br /> Borrower is oUligtited to pay Escrow Items direeYly, pursua�it Co a waiver, an�l Burrower fails to pay Ihe
<br /> atnount due fox an Sscrow Item, Lender may exerclse its righcs under Section 9 and pay euch amounC and
<br /> Borrower shall then be obligated under Seetipn 9 to xepay co Lender any such amount. Lender may revoke
<br /> the waiver as to any or all Escrow Items aY any time by a notice given in accordanee with Section 15 ai�d,
<br /> upon such revoeation, Borrower shall p�y to Lender all Punds, and in such amounts, thaC are then required
<br /> under Cl�is Seation 3.
<br /> Lendcr may, at any tinie, collect and hold iltnds in an amaant(a) sufFicieut to pei�init l,ender to apply thc
<br /> Funds aY Che time specified under RESPA, and (b) not to exceed the mnximum amouot a lender can require
<br /> � under RESPA. I,ender shall estimafe the amount of Funds due on the basis oP curreut data and reasonable
<br /> estiniaCes of expendiYuresof futute Escrow ICems or oeherwise in accordance wid� Appl3eable Lflw.
<br /> Tl�e Funds shall be lield in�an insCitaCion whose deposiCe are insured by a federal age�cy, instrumentality, or
<br /> enfity (includ'rng Lender, iP Lender is ui institution whose deposits are so insured) a•in any Pederal Home
<br /> Loui Bank. Lender shall appty the Funds to pay the L�scrow Items no later thau the time apecified imder
<br /> RLSPA. Lender shall not charge Borrower for holding and applying Che Pimde, annually a�jalyzing Che
<br /> escrow accouut, or verifying the Escrow ICems, unless Lender paye Borrower inCerest on tha Funds and
<br /> Applicable I.aw permiC4 Lender to u�ake sucli a charge. Unless an agreemenC is made in writing or
<br /> Applicable I.aw requires intcrest to be paid on the Funde, Levder shall not be required to pay Borrower any
<br /> interesC oe earnings on the I'Lmds, Bon•ower and Lender can agree in wriCing, however, lhat interest shall be
<br /> paid on the Funds. L.ender shal] give to Borrower, without charge, an umual accounting of d1e Punds as
<br /> required Uy RFSPA,
<br /> PL'there is a surplus aP Funds held in escrow, as defined undet RESPA, Lender shall aceount to Sorrower Par
<br /> lhe excess funds in accordance with RP.SPA, If there is a shartage of Fands hcld in escrow, as defined under
<br /> ItESPA, Lender slaall uotify Borrower as required by RESPA, and Borrower shall p2y to Lender the amount
<br /> necessaiy do make up the shortage in aecord2nce wiCh RESPA, buk in no more than 12 monthly payments, IY
<br /> tliere is a deficiency oY L unde held in escrow, ae defiued u�idax RESPA, Lender ehall notify Borrower as
<br /> za000e2o
<br /> NE6qA51CA-Slnqle Femlly-Fannie MaelFrodtlle Mec UMFORM INSTRUMEN'I' Form 30D8 1l01
<br /> VMP� VMPBMEI!1106)
<br /> Wolters Kluwer Flnancial Servicns Paqe G ul 1]
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