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<br />premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
<br />Insurance premiums in accordance with the provisions of Section 10. These items are called "Fscrow
<br />Items." At origination or at any time during the term of the Loan, Lender may require that Community
<br />Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to
<br />be paid under this S�tion. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives
<br />Bonower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Bonower's
<br />obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be
<br />in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts
<br />due for any Escrow Items for which payment of Funds has b�n waived by Lender and, if Lender requires,
<br />shall fiunish to Lender receipts evidencing such payment within such time period as Lender may require.
<br />Bonower's obligation to make such payments and to provide receipts shall for all purposes be deeme� to
<br />be a covenant and agr�ment contained in this Se�urity Instrument, as the phrase "covenant and agr�ment"
<br />is used in Section 9. If Bonower is obligate� to pay Escrow Items directly, pursuant to a waiver, and
<br />Bonower fails to pay the amount due for an Fscrow Item, Lender may exercise its rights under Section 9
<br />and pay such amount and Bonower shall then be obligated under Secrion 9 to repay to Lender any such
<br />amount. I.ender may revoke the waiver as to any or all Escrow Items at any time by a norice given in
<br />accordance with S�tion 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in
<br />such amounts, that aze then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) suff'icient to permit Lender to apply
<br />the Funds at the time sp�ified under RESPA, and (b) not to exce�d the maximum amount a lender can
<br />require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and
<br />reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable
<br />Law.
<br />The Funds shall be held in an institution whose deposits aze insured by a federal agency,
<br />instrumentality, or entity (including Lender, if Lender is an insritution whose deposits aze so insured) or in
<br />any Federal Home I,oan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time
<br />specified under RESPA. Lender shall not chazge Bonower for holding and applying the Funds, annually
<br />analyzing the escrow account, or verifying the Fscrow Items, unless Lender pays Borrower interest on the
<br />Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing
<br />or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Bonower
<br />any interest or earnings on the Funds. Bonower and Lender can agre� in writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to Bonower, without charge, an annual accounting of the
<br />Funds as requirefl by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to
<br />Bonower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow,
<br />as defined under RESPA, Lender shall notify Bonower as required by RFSPA, and Bonower shall pay to
<br />Len�er the amn�t a�sary to make up the shortage in accordance with RFSPA, but in no more than 12
<br />monihly payments. If th�re is a deficiency of �mds held in escrow, as defined under RESPA, Lender shall
<br />notify �rrower as asequired by RESPA, anfl �onower shall pay to Lender the amount n�essary to make
<br />up the deficiency in accordance with RESPA, �ut in no more than 12 monthly payments.
<br />Upon pay�cent in full of all sums se�ure�i by this Security Instrument, Lender shall promptly refund
<br />to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and imposirions
<br />attributable to the Property which can attain priority over this Security Instrument, leasehold payments or
<br />ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To
<br />the extent that these items are Escrow Items, Bonower shall pay them in the manner provided in Section 3.
<br />�-6G(NE) r0005).oa
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<br />Page 5 of 15
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<br />�nma�s:
<br />Form 3028 1 /01
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