|
201205888
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or
<br />entity (including Lender, if Lender is an in�titutiou whose deposits are so insured) or in any Federal Home Loan
<br />Bank. Leader shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA.
<br />Lender shall not charge Borrower for holding and applying the Funds, minually analyzing the escrow account, or
<br />verifying the Escrow Items, unless Lender pays Borrower interest on the liunds and Applicable Law permits
<br />Lender to make such a charge. Unless air agreement is made in writing or Applicable Law requires interest to be
<br />paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings an the Funds. Borrower
<br />and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borruwer�
<br />without charge, an annual accoundrig of the Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the
<br />excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESP -A,
<br />Lender shall notify Bormwer as required by RESPA, and Borrower shall pay to Lender the aniount necessary to
<br />make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a
<br />deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by
<br />RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with
<br />RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all sum secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. .
<br />4. Charges; Lions. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Property which can attain priority over this Security Instrument, leaschold payments or ground rents im the
<br />Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these
<br />items are Escrow Items. Borrower shall pay them in the marmer provided in Section 3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrinvon(a)
<br />agrees in writing to the payment of the obligation secured 1337 the lieu in a inarmer acceptable to Lender, but ordy
<br />so long as Bounwer is performing such agreement-, (b) contests the lien in good faith by, oi� defends against
<br />enforcement of the lien in, legal proceedings which in Lendef s opinion operate to prevent the enforcement of the
<br />lien while those proceedings are pending, but only until such proceedings are C(mcluded; or (u) secures from the
<br />holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If
<br />Lender determines that any part of the Property is subject to a hen which can attain prionty over this Security
<br />histrunient, Lender may give Borrower a notice ideutiC7jng the hen. Within 10 days of the date on which that
<br />notice is given, Borrower shall satisfy the lien or take one. or morc of the actions set forth above in this Section 4.
<br />Lender may require Borrower to pay a one-time charge for a Yea] estate tax verification and/or reporting service
<br />used by Lender in connection with this Loan,
<br />S. Property Insurance. Borrower shad keep the improvements now existing or hereafter crected. on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage," and any other hazards
<br />including, but not limited to, earthquakes and floods, for -which Lender mquires imurance. This insurance shall
<br />be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Leader
<br />requires pursuant to the preceding sentences can change during the term of the Loan, The insurance carrier
<br />providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice,
<br />which right shall not be exercised unreasonably. Lender icay require Borrower to pay, in connection with this
<br />Loan, either: (a) a one-time charge for flood zone deterrinaration, certification and trarldug services: or (b) a one -
<br />dine charge for flood zone determination and certification services and subsequent charges each time
<br />remappings or siuWar changes occur which reasonarbly might affect such determination or certification. Borrower
<br />shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency
<br />in connection with the review of any flood zone deterimnation resulting from an objection by Borrower.
<br />NESRAS�Singfe Fanl�F�ie MaelRa&1a Mae UNIFORM MMUMEN7 F.. 3M 1�
<br />VKR 0 VMP6(NE) (1105).Q0
<br />W.�, Fmanaid S�. Page 5 als
<br />IN 1111111111111111111111111111111101
<br />OOCONE9770656
<br />
|