|
201206911
<br /> Any a�plication of payinanfs, insurance proceeds, or Misoellatieous Prococcie to principsl due under tlie Note
<br /> shal] not cxtend or postpone the due date, or chauge the amotimt, o£the Periodio Pftyments.
<br /> 3. 1�unds fm•tiscrow]te�ns. Rarrower shall pay fo Lender on the day Periodic P�yinents aro duc imder U�e
<br /> Note, imGl the Nohe is�aid in full, a surn(the"Funds")to provide for pa}nnani of¢monnts dne for: (a) faxes
<br /> and assessmente and other items�vhich can aCfnin priority ovcr fl�is Seciu�ity 6ist�uinent as a lien ox
<br /> e�ictimibrance on the ProperCy, (b)leaseliold pa�yments oc gronnd cents on Lhe PropeCty, 9f any; (c)premimns
<br /> for xuiy and�11 insurance required by]_,ender under Section 5; aud(d)Morfgage Insurm�ce prert�iiuns, if any,
<br /> ar �nq smns�ayable by Bon�ower Co Leridcr in]icu of Yhc payment of Mortgage Insurauce premiuma in
<br /> �ccordance with the pt•ovisione o£8ection 10. These items aro c<lllcd"Escrow Items.° At origiiiatiou or at
<br /> any time dmiitg the term of'tho Loau, Lender m�y require thac Coimnunity Aseoci�tion llucs, �ees, and
<br /> Assessmenfs, if auy, be escrowed by Borrower, and such du�s, fee9 aud assessments shall be�nn Eserow
<br /> Ttevi. Borrower shall promptly fiu•uiah to Lender all nofioefi of anio�u�ts to bc paid under tihis SecCion.
<br /> Borrower shall pay Lender the P'unde for Escrow Iteins unless Lender wpives Borrowcr's oUligaEioix to pay
<br /> thc, FLuide for any nr all Fscrow ltema Lender may waive Borrower's obligation to pay to Lender Punds for
<br /> any oc all L�scrow Items at any timo, Any such waivcr may only be in writing, In Yhe evaut of such w�ivor,
<br /> Barrower shall pay directly, when nnd where payable, the n�i�oimts due for any �+scrow ltems£or which
<br /> payment oi'Fwida I�as Ueen waived Uy Lendae and, if Lender reqt�ires, skell furuish to Leudex receipts
<br /> evidcnoing sueh paymcnt within euch time period as l,ender may require. Borrower's obligetion to malea
<br /> snch�ayn�ents and lo provicie receipts shull for all purposes bc dcc���ed to Uc a covenavt�uid agreeinent
<br /> containecl in this Security Instrument, ns the phrnae "covenant ancl agreen�ent" is uxod in Scotion 9. lf
<br /> Borrower is oUligaCed to pay�scrow Items directly, pursuaait to n wniver, and Borrower fails to�ay fhc
<br /> �moimt due for an Nscrow ftem, T,ender may exerciee ity rights midar SecTion 9 and pay auch emount nncl
<br /> Barrower shall 11ian be obligaCed under Seetion 9 to rcpay to Lcndcr any sueh amounG. Lender tnay revolce
<br /> fhe waiver as Eo axiy or all Lacrow Items at Any time by a notice given in accordance with Scction 15 and,
<br /> upon such revocation, Borrower shall pay to Lender all Funds, aaid iu such nmouuts, tliet are khen requirad
<br /> imder lhis SecCion 3.
<br /> Lendcr may, aC any Lrn�q co]Iwt ai�ci hold l�tmck in aii ttmount(e�) sufFicient to pe��mit Lender to apply the
<br /> T�unds at the time s�eoified under RESPA, and(b) not to exoeed tha i�r��imum amount a lcndce utn require
<br /> mider RL�SPA. Leuder ehall estia�ate the ainoLmC of'Funds due on the basie af current d2fa and xeAsonable
<br /> es6irriates oP experiditures of fuLure L�scro�v Items or otherwiso in lcenrdance with Apylicahle Law.
<br /> The Funde shall bo lseld i�s ��� institutinn whnse dcpnsits aro ii�surod Uy a fedoral age�icy, nist�lwieuSality, or
<br /> entity(inehidiug Lender, if Lender is nn insLilu[ion whose deposiLs u�e so inarired) or in any Fcdctal Flome
<br /> Loan Bank, Lender shall apply Sha Funds tn pe�+the Escrow Items no later than the time specified under
<br /> RBSk'A. Lcndcr vhall not charga 8m7awer for holdin�;and applqiu�Uie Funds, aunUally aik�lyzing the
<br /> escrow accoun[, or vexifqing Ihe L+scrow Items, unless Lzncier p2ys]3on�ower intcrest rn�the Ftiuids aud
<br /> Applicable Law pennits Lender to make such a chTrge. Unlese an agreement ie niade iu wri[ing ox
<br /> Applic�tblo i,��v reqtiutes interest to be paid on t1�e Fiu�ds, Leuder shall not be required to p�y Borrower any
<br /> interesf or enrx�ings on Che Funds. Borrower and Lencier can agi'co i»�ii�irin�;, however, U�at interest sha11 be
<br /> p€�icl on the P�unds. Lender shall give to Borrower, without oharge, flu armual accounCing oP Che Fuiids as
<br /> required Uy RESPA.
<br /> If there is z surplus of Funde held in escrow, as detiued uuder RESPA, Lender ehall account to 13orrower for
<br /> the excess ftmds in aocordance with RI�SPA. 1'f tl�ere is a s1�c�rtage of Ftuids held in esorow, as defned under
<br /> I2LSPA, Lender shall noCiPy Borxower as cecriiired by RLSPA, ancl Borrower ehall pay t� Lc��de�'tl�e aanow�t
<br /> necessary to make u�Yhe shorta�ge in aecordance with 1ZESPA, but in no inore thnn 12 monthly payn�eni�s, IP
<br /> there is a defieiency aF Runds held in escrow, as defii2ed timfter RFSPA, Le�ider shall nofif'y Bon�ower as
<br /> -- .-- --- — ---_—'_- — 24001841
<br /> NFBRASIfA-Single f-amily-Fannie MaelFredAie btac UNIFORM INSTRUMFNT Porm 3020 7101
<br /> VMP� VMPA(N[)(t7�61
<br /> Woltere Kluwar Rnnnnlal Servlres Pa9e b ot 77
<br />
|