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.'� � <br />2 U 1 2U644� <br />Lender will esti�tniate from time to time <br />Mortgagor or Grantor's yeazly taxes, <br />assessments, leasehold paymenTs or ground <br />rents and insvrance premiums, which will be <br />caliexl the Escrow Items. Lender will use <br />existing assessments and bi11s and reasonable <br />estimates of future assessments and bills. The <br />amounts that Mortgagor or Grantor pays to <br />Lender for Fscrow Items under this secdon <br />will be called the Funds. Lender will coilect <br />and ho[d Funds in an amovnfi not to exceed <br />the m,axununn amount a lender for a fecterally <br />reiated mortgage loan may rec�uire for <br />Mortgagor or Grantor's escrow account <br />under the federaI Real Fstate Seltlement <br />Procedures Act of 1g74 (as amended), unless <br />another law that applies to the Funds sets a <br />Iesser amount. If so, I.ender wilI collect and <br />hald Funds in the iesser a�ount. <br />Lender will keep the Funds in a saviugs or <br />banking institution which has its deposits or <br />accounts insured or guaranieed by a federal <br />ac state agency. If Lender is such an <br />institution, I.ender may hold the Funds. <br />Lender will use the Funds to pay #he Escrow <br />Items. Lender will give MorEgagor or <br />Grantor, witk�out charge, an aunual <br />accounting of the Funds. That accounting <br />inust show all additions to and deductions <br />frona the Funds and the reason for each <br />decluction. <br />Lender may not charge Mortgagor or <br />Grantor for holding or keeping the Funds, <br />for using the Funds to pay Escrow Items, <br />for analyzing Morfgagor or Grantor's <br />payments of Funds, or for reoeiving, <br />veri�yeng and totaling assessm�ents and bills. <br />However, Lender may charge Mortgagor or <br />Grantor fac these services if Lender pays <br />Mortgagor or Grantor interest on the Funds <br />and if the law permits Lender to make saclx a <br />charge. Lender may require Mortgagor or <br />Grantor to pay a one charge for an <br />independent real estate tax reporting service <br />used by Lendez in accordance with Che <br />Secured Debts, unless applicable law <br />provzdes otherwise. Lender wiif not be <br />required to pay Mortgagor or Grantor any <br />interest or earnin$s on ihe Funds unless <br />either (i} Lender and Mortgagor or Grantor <br />agzee in writing, at the tune Mortgagoz or <br />Grantor signed this Security Instniment, that <br />Leuder will pay interest on the Funds; or <br />(ii) the law requires Lender to pay intezest on <br />the Funds. <br />If the Funds held hy I.ender exceed the <br />amounts permitted ta be held by applicable <br />law, Lendez will account to borrower for the <br />excess Funds in accordance witl�t the <br />requirements of applicable Iaw..If ttze aznount <br />of the funds held by L.ender at any tizne is <br />not sufficient to pay tlxe Escrow Ttems when <br />due, Lender may notify borrawer in writing, <br />and, in such case, I�onower will pay to <br />Lender the amovnt necessary to make up che <br />shortage or deficie�acy. Borrower shall make <br />up the shortage or deficiency as Lender <br />directs, suhject to the requirements of <br />applicable law. <br />If, by reason of any default wider tl�is <br />Security Instrument, I.ender declares all <br />Securecl Debts due and payable, I.ender may <br />then apply any Funds against the Secureci <br />Debts. <br />When Mortgagor or Gzantor has paid atl of <br />the sucns secured, Lender will prompt[y <br />refund to Mortgagor or Grantor any Funds <br />diat are then being held by Lendec. <br />RAwtQege Rider <br />VMPQ9 Benkars Systoma7'�1 <br />Woltars K4uwer Finande( Sarvicea 0 20 f 1 <br />MTO-R 4I3012011 <br />VMP-G701 t11041.00 <br />Page 2 of 3 <br />