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201206723
<br /> Any application of�flymenha, insiu�ant;c}�roceeds, or Miscella�ieous Proceeds to principnl due ttnder H�e NoEe
<br /> sha11 not exCend or postpone the dua date, or change the amounC, of tl�c Pcriodic Paymeuts.
<br /> $. I�'ands fur�aerow Iteme. Boxrowex eha11 pay Co Lender on the deSy Ycriodic Paynients are due m�der the
<br /> Note, until the Note is paicl in full, a stun(the"Punds") W provide for paymenC of amounts duc for: (ft)taxes
<br /> aaici assessments ei2d oChor itcn�s whicb car� akt�tin priority over tihis Sectuity Inshument ne a lien or
<br /> encumbrnnce on the Property; (b) leasehold payrncnts or grour�tl rents on the Property, if any; (c)premiums
<br /> f'or uiy vid all inaurance requirecl by Lender under Section 5; avd(d}Mortg�ga 1nsLu�uice premians, if any,
<br /> or any smns payaUle Uy Borrower to Lencler in lieu of the payment oP��orCgage Insurance pren�iums ui
<br /> accordance with ihe provisions of Secfion 10. Thase ifems u•e called "Esorow Items." Af orign2ation or at
<br /> airy timo during tho tcrj'n of the l,oan, l,ender may require tliat ConnnuniYy Associarion Lhies, P'ees, and
<br /> AssessmenYs, if any, ba escirowed by Borrower, and suoh clues, fees and assessments sl�all Uo an Escrow
<br /> ]tem. Ron ower shall prompf1y furnish to Lender all notiees of tunounts to bepAid undec this Section.
<br /> Borrower shall p�y Lender the Funds for L;scrow Itcros unlesd La�ider�vaives Borrower's obligaYion to pay
<br /> tho Funds For any or all Escrow Items. Lender mny waive Borrowec's oblig2tion to pay to Lcndcr Cnnds for
<br /> auy or all F,scrow.Itams at any time. Aiiy sucli waiver may only be in writing. In the event af such waiver,
<br /> Borrower sh�ll p1y ciirecCly, whon and wherc payab1e, the amotiults clue for any L+ecrow Itetns Por which
<br /> payment of Iunds has been weived bg Lender end, if Lender reqiures, sltall ftin�ish to l.euder reeeipts
<br /> evidenciug such pa}nnent witivn such time period es Leuder may require. Borrowei�'s obligation to�7�alcc
<br /> such payinents Euid to provide receipCs slu�li £or all purposas be deemed to Ue a oovenaut and agreeinenC
<br /> containcd in this Sccurity instr�ument, as the phrase"coveilaut and agreevnent" is ixsad in SecYion 9. If
<br /> Borrower is obligated to pay L+.scrow Iteme directly, pursuant to a waiver, and]3ou�ower fails to pmy tl�e
<br /> nnzount due for an Escrow Item, Lender may exe�cise ita rights under Sechion 9 and�ay such�aniount and
<br /> Rorrowe�'sl�all t��e�i be obligated uuder $ection 9 fo repay to Lender any such emounk Lender ni�y revoke
<br /> the waiver as to any oc all��erow Ttenin at any timc l�y a noHcc given itt accorda�ice with Secfion 15 and,
<br /> upou such revocation, Borrower shall pay to Lender all IIunds, a�id iu suah aznounte, that aro il�cn requirecl
<br /> Luicler this Section 3.
<br /> L ender may, at any tiine, collc;ct end hold Funds in an amount(a)sufficient to pemvt Lender to�pply t�Le
<br /> Ftmds at the time syeci5ed wider RESPA, �id(b}not to exceed the tnaximmn�mount a lender c�n require
<br /> under RI�SPA. Lcndcr sUall cstimate fhe rauiowlf of I�w�ds dae on the l�asis of current data aald reasonable
<br /> estiniates of'expenditwes of future Hsorow Items or otherwise iu aocordauce with Applioable Lnw.
<br /> The Punds shall be held in nn instituEion whose depoeits are insurecf by fl federal agenoy, insu�umenCalify, or
<br /> entify(includin�*Lender, if I.ender is au u�sCitutiou whose deposits aa'e so insured) o� in auy Fedei.'d Homa
<br /> Loan Banlc Lcnder shall apply tho Funds to��ay tihc�scrow Itcros no latcr than thc Hn�ie specificd under
<br /> RESPA. Lettde�� shall not charge lloarower for holding and ttpplying the Punds, ennually Analyzing Che
<br /> escrow aocowit, or varifying the�scrow Items, unless Lender pays Borrower interest on the Funds aud
<br /> Applicable I.aw�ermiCs Lorider to make sueh a chttrge, Unless an agrccn�ont is ma�ie in writing or
<br /> Applicnble Law requu•es uiterest to be pnicl on the IIunds, Lender skall not l�a required Lo pay Borrowc���ny
<br /> intarest or earnings ou the Fmids. Borrower and Lender can aga•ee in writing, however, that iuterest st1�11 be
<br /> paid on the Fwids. l,ender ehall give to Borrower, without charge, an amival accounting oi'tihe Funds as
<br /> rcq��ircd My RL�SPt�i.
<br /> If tl�cre is a surplus ot'1'unds hcld in cscrc�w, as doflt�cd�mcler R�SPA, Lender sha11 account to Rorrower for
<br /> the excess fiiuds in�ccordanoe with RESPA. I£there ie a shortage of Punds held in eaorow, es de�ined inade�'
<br /> RESPA, Lender sha11 noCify Dorrowar as required by RLSPA, and Borrower shzll pay to Lender the nmount
<br /> neoeesary to n�alce up tho ehortage iv awordanco with 12S5YA, but in no inore Yhan 12 monthly pay�nents. Ii
<br /> kheie ie a deflciency o£Punds held in escrow, �s defuied uuder IZ�SPA, Lender sflall nocify Borrowcr ae
<br /> zaoo9i�a
<br /> NEeRFtSKA-Single Fam ily-Fsnnle M aelGredAle M ac UMFORM INSTRUM ENT Form 3020 1l01
<br /> VM P Cy VM F6�NE)f7105)
<br /> Woltare Kluwer financlal Servloea Page B of 77
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