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20120529�
<br />Any application of payments. insurance proczeds, or MisceUan�us Proceeds to prmcipa! due under the Note
<br />shell not extend ar pastpone the due date. or cbange the amount, of the Periodic Paymea►ts.
<br />3. Funds !or Eserow Items. Bonowcr shall pay to Lcndcr on thc day Periodie Paymcnts are due under the
<br />Note, until the Note is paid in full. a s�um (the "Funds") to provide for paynneat of amoimis due for. (a) taxes
<br />�n,d assessments a� ather items which can attain priority over this Secunity Ynstrument as a li�n or
<br />c�wumbrance c�n the Pruperiy� (b) �eu.�ehu(d �saymenl.c nr �vunci reni� on the Prnperty, �f arry, (c) Prerniums
<br />for any and si( in�urance required by Lender urtder Se�tirin 5; and (d} Mortgage lnsurance premiums, if asry,
<br />or any sums pa}+abl� by Bortower to Lender ia li�u nf the payment of Mortgage Ins�ance pre�miums in
<br />accordance with the provisians oC Section i0. These items ace autleci "Escrow Items." At origivation as at
<br />any time during the term of the Loaa, Lender may require t�t Community Assoaialian Dues, Fees, aad
<br />Ass�ents, if any, be �towed by 8orrower, and such dues, fees and asfiessments shall be an Escraw
<br />Itca+. Barrower sbai! prompily fnmish to Lendcr all notices of amounts to bc paid uncier tlus Section.
<br />Bnrmwer sh�ll pay Lender the Fonds for Escrow Ifems upless Lender waiv� Horrower's obligation to pay
<br />the Funciq for any or all Escmw Items. Lender muy wuive $orrower's obtigation to pay to Lender Funds for
<br />any ur :ai Escrow items ul any time. Any sus:h cvaierr w;ay un[y b� in writing. In the eveN af such waiver,
<br />Borrawr,� �hull pay direcily, whea und wherr pay�ablr, the amoantx due for any F.�.�mw ilc;ms for which
<br />paymeni of Funds has been waived by Lender aad, if Lender requires, shall fumish to Lender tec�ipts
<br />cwide�ncing such payment within snch tune period as Lcnder may require. �trawer's obligation ta make
<br />such payments and to pmvide r�eipts shall for all purposes be deemed to be a covenant aad agreemeM
<br />contained ia ttus Security Instrument, as the phrase "covenant sud agreemeni° is used in Seetioa 9. If
<br />Borrowrs is obligarcd to pay Escr�w Itcros dircctly, purs�nt to a waiver, end Borrower fails to pay the
<br />amount due Par an Escrow Item, Lender may exercise its rights under Secrion 9 and pay sach arnount and �
<br />Boaovver s�mll thea be nbtigs►ted under SecEion 9 to r�pay ro Lender uny suclt amauni. Lender may revoke
<br />the waiver as to any or �li Escruw Items at any time by a aotice given in accorciance with Seation 15 aad,
<br />upon E�titch revc�cution, Botrower shull pay fo L,c;nder all Funds, and in such amuunts, that are then required
<br />nnder this Se�tion 3.
<br />Le�er may, at any time, collect anci Lold �unds in an smount (a) svfficient to permit Lend�r to apply the
<br />Funds at the time specified under RESPA, and (b) not to exceett the maximum amount a lender can require
<br />under RESPA. Lc;nder shall estimate thc amount af Fuads due on tha basis of curr�t data and rerisouablc
<br />estimntes of expendicures of tuture Escrow Items or o16en�vise in accosdance with Appiicable Lew.
<br />The Funds s�Yall be held in nn inctitntion whose deposits ate insured by a faleia! agency, instrumentatity. or
<br />entity (inctuding Lender, if Lender is aa insfiiution whose deposits are so ptsared) or in any Fedeza! Home
<br />Loan B;xnh. L�nder shall apply the Funds tc► flay the F.s�crnw Itemr nc� later ttwn the tima s�tx:i5ed undc;r
<br />RESPA L�nder shall not charge $artower for h�lding and a�piying tbe Funds, annuslty analyziag the
<br />escmw aceount, or vetifying the Escmw Items. �wless Lender pays Barmwer interest on the Fuads aad
<br />Appticable Law permits Zender to make such � c6arga Unless an agreemeat is made in writin� or
<br />AppEicable Law reqnires iaterest ta he paid oa t�e Punds, Lender shall noi bc required to pay Borrower any
<br />iatetest or rarninge on the Fnnds_ Botrowcr and Lcnder can agtee in writing, howcver, that iaterest shal] be
<br />paid on the Fuads. Lender shall give to Bnrrower, without charge, an aanual aceo�� of the Fnnds as
<br />reqaired by RESPA
<br />If lhere i� a surplus uf Funds held in �c;rc�w� xs d�ftnesi undcr ItESPA, Lendct c�hal) au;ouni to Sarrower fefr
<br />the e.xaess fiwds itt accordance with RE5PA. If ihere is a shortage of Funda held sa escrow, as defined umier
<br />RESPA, Lender shatl �tify Boaowcr as tequireci by RESFA, and Bortnwet sl�all gay to Leudex the amount
<br />neceseary tv make up fhe s6ortage in accordance witlt RLSPA, but in no more thao 12 moatWy payments. If
<br />there is a deficiency of Funds heid in escrow, as defined under RLSPA, Lender shall imtify Borrower as
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