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201206261
<br /> Any applieation of payments, ii�surtu�ce pioceeds, or Miseellaneous Proceeds to principal due undec the Note
<br /> shall not extend or postpone the due date, or change the amount, of tlie Periudic Payments.
<br /> 3. H`mxls for Escrow Items. Borrower shall pxy Co Lencler on the day Periodic Payments are due under Yhe
<br /> NoCe, imCil ehe Noie is p2id iii Yull, a sum (the "k'unds") Yo provide'for paymeiit �f amounts due for: (a) taxes
<br /> and assessmen�s and other itcros which oan aCCain priority over this SecuriCy lnstrument as a lien or
<br /> encumbrancc on (he Properry; (b) leasel�old p2yments or ground renCs on tlie Properey, if any; (e)premiums
<br /> for any and all insurance requiced Uy Lender under SocCion 5; and (d) Moi�Ygage Insurance premiLime, iP Aiiy,
<br /> or any sume payaUle Uy Boirower to Lender in lieu of the paymevC of Mortgage InSurance premiums in
<br /> aceordance with tha provisfons of SecCion I0. 'l'hese iCems are called "Escrow 1Cems." At origii�ation or at
<br /> any time duc3ug the term oP C[ie Loan, Lender may require that ConimuniCy Assocratinn Dues, Fees, at�d
<br /> Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow
<br /> Item. Borrower shall ptomptly fiunish to Lende� all notices of�unounts to be paid under 4his 3ection.
<br /> Borrower shall pay Lender the Funds 'Cor Escrow Items u�iless Lender waivcs Borrower's otrligation to pay
<br /> the Ptwds for any or all Escrow 1[ems. Lender may waive Borrower's obligation to pay to Lender Flmds for
<br /> atiy or all Escrow Itcrris at any time. Any such waiver may only be 3n writii�g. In Yhe event of such waiver,
<br /> Rorrowar shall pay directly, when and where payable, Che amounYs due for airy Eacrow lfetns for wltich
<br /> paymenY of Punds li2s been waived by 1_,ender 1nd, if Lender requires, shall furnish to Lender receipts
<br /> evidencii�g s�ich��aymenC wi�hin stwh [ime period as Lender n�ay A•equire. Borrower's obligation ro maka
<br /> sucl�pxyn�en� and to provide reeeipts shall for all �urposes be deemed to be a covenant and agreemeut
<br /> couCained in Chis SeeuriCy Instrument, as tl�e phrasc "covenant ancl agreement" is used in Section 9, If
<br /> Rorrower is obligated Yo pay Escrow Itcn�s dicectly, pu�suant t'o a waiver, and Borrower Pails to pay the
<br /> amonnC due foc an Escraw Item, Lcnder may exeroise iYs rights under Scclion 9 and pay sucl� amount and
<br /> Borrower sh.ill then be obligaCcd under SacYiod 9 to repay to Lender any such amount. Lender may revoke
<br /> the waiver as to ttny or all Fscro�v ICems aC any [ime by a noCicc given in accordance with Section 15 and,
<br /> upon such revocaCion, Borrower shall pay to Lender all F'unds, a�ul in sucli amounCs, that are then required
<br /> under I:his SecCion 3,
<br /> Lender may, at any time, wllect and hold Flmds in ari amo�mC(a) sufficient to permit Lender to apply the
<br /> N'unds at Che time rpeciTied under RESP�1, and (b) not to exe,�ed the m.iximum amount a lender cav require
<br /> under RLrSPA. Lender shall estimaCe the amoune of Pimds due on the basis of cnrrent daYa and re&sonablc
<br /> estimates o'f expenditures of Ptthire�scrow Items or oCherwise in aecordanee wi[h Applicable Law.
<br /> The Funds shall bc hcld in an insCitution whose cleposits arc insured by a federnl agency, inslrumentaliry, or
<br /> eiitity (inoluding Lender, if Lender is a�i iustitution�whosa depoeits are so insured) or in any Fecleral Home
<br /> Loun Bauk. Lender shall apply Che Funds to pay Che Rserow ICems no l�iter thkm thc tirne speciPied under
<br /> RESPA. L,ender shall not charge Borrower fior holding and applying the Funds, anvually analyaing the
<br /> escrow account, or verifyiiig the L�scraw itams, unless Lender pays Borrower interest on the FEmds tmd
<br /> Appllcable Law permits Lender to �nake sueh a charge. Unloss an agraemenC is made in writiug or
<br /> Applicable I.aw reqti�ires intecest to be paid oii the Funds, Lender sliall not be required to pay Borrower any
<br /> interest or eari�ings on tl�e Funds. Borxower and Lender ean agree in writing, however, thar interest sl�all be
<br /> paid on tlie Funds. Lender shall give to Borrower, without char�e, an anmial acwunting of tlie Funds as
<br /> required by RESPA.
<br /> If tliere is a surplus oP Nunds lield i�T eserow, as defiiied undcr RNSYA, Lender shall accaunC Co l�orrower for
<br /> the exoess Piands in accordance wiCl� RESPA. If thexo is a shortage of Punde lield iii escrow, as dePined under
<br /> RESPA, I.ender shall notify Borrower as required Uy RPSPA, and Borrower shall pay Co l�i�der Che amount
<br /> necessary to make up the sl�orta�e in accordance with RESPA, but in no more than 12 monthly payments. If'
<br /> thero is a deficiency of Punds held in eserow, as defined un�iez RESPA, Lender shall notiPy Borrower as
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<br /> NE9RASICA-Singlo f-amilY-fannie Mae/f-reddie Mac UNIFORM INBTRUMENT Form 302N 1l01
<br /> VMP� VMPBINCI 11106)
<br /> Wol[are Kluwar Finanaiel 8arvicas Popn 5 of 1]
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