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201206710
<br /> Any application of pay�snents; i*�surance proceeds, or Miscellaneous Proceeds to principal due undcr the I�Tote
<br /> sfiall not extend or postpona t}ie due da2e, ox change the au�ounY, of the Periadic Pannents.
<br /> 3. Fimds for Eserovv Items. Borro��er shall pay to Lendcr an the day Periodic Paymcirts are due under the
<br /> Note, until the Note is paid in full, a sum(the"Funds") to provide fox payment of amounts due for: (a) tazes
<br /> and assessments and other iteins wluch can a#ain priority over this Security Instrument as a lien or
<br /> encumbrance on the Properry; (b)leasehold payments or gound rents on the Properly, if any;(c)premiums
<br /> for any and all ins�u'ance xequired 6y Lender nnder Secfion 5; and(d)Mortgage Insur�uce premiums, 3f any,
<br /> or any sums payable by Borrower Yo Lender in lieu of the payment of Mortgane Insurance pxemiuuzs in
<br /> accordance with the provislons of Section 10. These items aze callzd."Fscrow Items." AY origination Or at
<br /> any time duiing the term of the Loan, Lznder may require that Community Asseciation Dues, Fees, and
<br /> Assessments, if any, be escrowed by Borcowa, and snch 3ues, fees and assessfuents shall oe azi Fscrow
<br /> Item. Eoaower shall gromptly fumish to Lender a11 nokaes oi amounts tcr be paid under flus Section.
<br /> Borrower shall pay Leacler the Funds for Escrow Items unless Lender waives Borrower s obfigation fo pay
<br /> the F�unds for any or al.l Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for
<br /> any or all Escrow Items at any ffine. Any snch waiver may only be in writiug. In[Fie Cvent of such waiver,
<br /> Sorrower shall pay directly, when and�vhc7e payable, the amounts due for any Escrow Items for w�hich
<br /> payment of Funds has be0n v✓aived by Lender and, if Lender requires, shall fiunish to Lender receipts
<br /> evidencing suc:h payment wzthin such tnne period as Lender inay require. Borrower s obligalion to make
<br /> such pa}wents and to provide receipts shall for all purposes be deemed to be a covenant and agreement
<br /> contained in th3s Security InsCniment, as the p3aase'�covenant and agreement" is used in Section 9. If
<br /> Borrowet is obli�ted to pay Escrow Ite�ns dizecfly, purscuwt To a waivei, 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 /> Boapwer shall then Ue oUligated under Sect[ov.9 to repay to Lender any such a3noLYnt. Lender may revokc
<br /> the waiver as to any or all L�scrow Items at any tune by a norice given in accordance with Section 15 and,
<br /> upon such revocation, Bbrrower shall pay to Lender all Hlinds, and in such vnounts, that aze then requSrad
<br /> under this Seclion 3.
<br /> Lender may, at any time, collect and hold Funds in an aniount(a) sufficien�to pennit Lender to apply the
<br /> Fimds at the time specified under RESPA, and(li)not to exceed the masimmn amount a lender can require
<br /> under RESPA. Lender sha11 esiimate the a�nount of Funds due on the basis of current data and reasonable
<br /> estunates of expenditures of future Bscrow Items or otherwise in accordance with Applicable Law.
<br /> The Funds shall be held in an insirtution��hose deposiCs are insL�red by a federal agency, insfsumenfality, or
<br /> entity(including Lender, if Lender is an institution whose deposits aze so mgured) or in any Federal Home
<br /> Loan Bank. Lendex shall apply the Puncis to pay the Fscrow Itv�ns no later tkan the time specified Lmdc;r
<br /> R�SPA Leudei s1�a11 not eharge Horrower for holding and applyuig the Funcis, azuiva]ly aiYalyzing the
<br /> escrow acwunf, or verifying the Escrow ITems, unless I.endei pays Borrower interest on the FLmds and
<br /> Applicahlc Law permits Lender to malce such a chazge. Unless an ageeinent is made in writing 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 Funds. Borrow-er and Lender can agee in writing, however, that interest shall be
<br /> paid oa the Funds. Lender shall give to Bozrower, without charga, ar� annual accounting of the Funds as
<br /> reqrured by 12�SYA.
<br /> If there is a�iuplus of Fimds held in escrow, as defrned under RESPA, Lender shall account to BorEowei for
<br /> the exc�s funds in accordance with RESPA. If there is a shortage ot F iuids held in zscrow, as definecl under
<br /> RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount
<br /> necessary to mak�up the shortage in accordance wifli RESP9, Uuk in no more than 12 monthly payments. If
<br /> there is a deficiency of Funds held in escro�v, as defined under RESPA, Lender shall notify Borrower as
<br /> 24001�6]
<br /> NFBR4SICA-Single Family-Fannie M ze/Retldie A7 ac UMFORM INSTRUh1 W T Form 3028 t 101
<br /> Vbi P� Vhi P6(NG)(1105)
<br /> VJolters Kluwer Financial Services Pagc-5 of i/
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