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<br />Any application of payments, insutance proceeds, or Miscellaneous Proceeds to principal due under the Note
<br />shall not extend or postpone the due date, or change the amouat, of the Periodic Payments.
<br />3. Funda for Escrow Itema Borrower shall pay to Lender on the day Periodic Payments aze due under the
<br />Note, unril the Note is paid in full, a sum (the °Funds") to provide for payment of amouats due far. (a) taxes
<br />and assessments and other items which can attain priority over this 5ecurity Instcument as a lien or
<br />encumbrance on the Property; (b) leasehold payments or grouad rents on the Properly, if any; (c) premiums
<br />for any and all insuiance required by Lender under Section 5; and {d) Mortgage Instua.nce premiums, if any,
<br />or any aums payable by Boaower to Lendet in lieu of the payment of Mortgage Insuirance premiums in
<br />accordance with the provisions of Section 10. These items aze called °Escrow Items," At origination or at
<br />any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and
<br />Assessments, if any, be escrowed by Borrower, and such dues, fees and ass�ents shall be an. Escrow
<br />Item. Boaower shall promptly futnish to Lender all notices of amounts to be paid under this Section.
<br />Bortower shall pay Lender the Funds for Escrow Items unle,ss Lender waives Boaower's obligation to pay
<br />the Funds for any or all Escrow Items. Lender may waive Bortower's obligation to pay to Lender Funds for
<br />any or all Escrow Itema at any time. Any such waiver may only be in writing. In the event of svch waiver,
<br />Bortowet shall pay directly, when and where payable, fhe amounts dne for any Escrow Items for which
<br />payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender r�eipts
<br />evidencing such payment within such time period as Lender ma.y require. Borrower's obligation to make
<br />such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement
<br />contained in this Security Insh�ument, as the phr�se "covenant and agreement" is used in Section 9. If
<br />Bonower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the
<br />amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and
<br />Boaower shall then be ohligat� under Section 9 to repay to Lender any such amount. Lender may revoke
<br />the waiver as to any or all Escrow Items at any time by a notice given in accordance with SecNon 15 and,
<br />upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required
<br />under this Section 3.
<br />Lender maq, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the
<br />Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require
<br />uader RESPA. Lender ehall estimate the amount of Funds due on the basis of current data and reasonable
<br />estimates of expenditutes of fuiure Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposifs are insured by a federal agency, instrumentality, or
<br />entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home
<br />Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under
<br />RESPA Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the
<br />escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and
<br />Applicable Law permits Lender to make such a chatge. Unless an agteement is made in wtiting or
<br />Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any
<br />interest or earnings on the Fuuds. Borrower and Lender can agree in writing, however, that interest shall be
<br />paid on the Funda. Lender shall give to Bartower, without charge, an annual accounting of the F�mds as
<br />required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall accouut to Borrower for
<br />the eaccess fuads in accordance with RESPA. If there is a ehortage of Fuads held in escrow, as defined under
<br />RESPA, Lender s}�all notify Borrower as required by RESPA, and Borrower shall pay to Lender the amouat
<br />n�essary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If
<br />there ia a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as
<br />� � KA-Single Family-Fannfe MaelFreddie Mac UNIFORM INSTRUMENT FOR �� ��
<br />VMPB(NE) (1105).aD
<br />Wotteis Iduwer Firterrofel Services Page 6 of 1T
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