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201207026
<br /> Any application of payments, inew azice proceeds, ar NCisccl1ancous Proceeds �o princi�al due uxider the Note
<br /> s1�aI1 not exteud oc postpone the dtiic datc, or change fhe amoxurt, of the Periocllc Payments.
<br /> 3. P+uude for�sec•ow Lleins. i�orrower s11a11 pay W Lender on Lhe day Periodic Paymenfs are due under the
<br /> Note, nntil t6e Notc is pnid in full, a snin(ihe "Punds")to provide Yor payment of aanotimfs dUe for; (a) taxos
<br /> and aSsesEmenC� and olher items which can attain priority over this Security [ristrun�enC as r�lien or
<br /> enouuibl'ance on the ProperCy; (b)leasehold pa}nnents or groutid renla on tlie Properry, if any; (c)premiums
<br /> for any�nd aLl ii�sm ance required Ug 1',cndc�r under Section 5; and (d)Mortgage Ii�surance p�einimns, if any,
<br /> or any suins payaUle Uy Borrower to Lei�ider in lieu of fhe payinenti of'Mortgage InaLirance prci7�iums in _
<br /> accordaiace with Ihe provisions of Section 'd 0. �Theee items are oal1ed"Escruw ICeins.'" AC origina[ion or at
<br /> nny time diiring the term of the Loaa�, Lender may rcquire that Coi�nmutrity tlssociation Dues, Fees, and
<br /> Assassincnts, if any; be escrowed by Borxowet•, and such dues, fees aud aescaemenls shall be�n�sorow
<br /> Item. Borrowea•shnA protnptly f'urnish to�I.ender a11 noticce of ainounfs to be paid under this Section.
<br /> Borrower sh�ll pay Lender the.P'm�ds for l:scrow Itema unless Lender waives Borrower's oUligakion to paq
<br /> the Fmids�Eor any or a11 Nscrow ICetns, Lender may waiue Borrower's obligation to pay to Lcnidor Funds for
<br /> vry or all Nscraw ICcnis aC any tune. tlny s�ich waiver may only Ue in writing. In Che evenC of such waiver,
<br /> Borrowe��sl�all pny directly, when azid where payable, thc�unomlt�s due for any Escrow Items for wlrich
<br /> pnyment of Punds hTs Ueen waived Uy I,e��der and, if Lender requires, sl�all fiunish to Lender receipts
<br /> evideucing such paymeut withiii euol�time petiod as Lender u�zy requira. Borrower's obligation ta mak¢
<br /> such�ayinents and to��rovide xeceipts shnll for all purposes be deemed fo bc a covenanC and ngreenaent
<br /> contained in this Security Insh•ument, as the phrase 'bovcnant and agreeuient" ie used in Section 9. If
<br /> Borrower is obligated to pay�sorow Itomn dircctly, pL�raunnC to a waiver, and Borrowex fails Eo pa}�tl�e
<br /> amount due for an Fsorow Itc�n, Lendar n��y exercise iYa rights under Seotion 9 and�ay sucl�an�ount t�nd
<br /> ]3orrowc.r ehall fli��ti be obligaYed under Section 9 to repay to Lendcr any Fuch�mount. Leuder may revoke
<br /> Che waiver as to atay or all Escrow Items at any timc by a noCioe given in accordauce wiUi Section 15 �tnd,
<br /> upan such revocation, Borrower shall pay to Lender all Funds, end in sttch ainonnts, that arc thcn rcquired
<br /> under tlus Sectiov 3.
<br /> Lendar inayy at any time, collcct and holcl Funds in an amounY(a) su'£ficient to permtf Lender Co npply the
<br /> Pwids at tlie timc spcciHed under RESPQ, and(b)noi to exceed thc maximum amoiutC�lender enti require
<br /> imder RLSPA. Lender shttll astima�tie the a�naunt nf F'unds dne on the basis of ctu'rent data a�d reasoi�able
<br /> estimates o£expcn�dihu'ea of fiiture Escrow Items or oCherwise in acwrdance wilh Appliceble Law.
<br /> � The Ftimds shz�11 bc held in aTi inslihition whose deposits are insured by a Pedesal agetioy, insY�•utnenYaliEy, or
<br /> ctatity(including Lendet•, iY Lender is an institixtion whose deposits nre so insured) or in any Faderxl Home
<br /> Lo�n Bunk. Lender shall apply thd Funde to pay the Escrow Items no laiar than t1�e timc spccif'1ed imder
<br /> It�SPA. Lender sha11 not charge Borrower far hold'uig and applying t1�c F'unds, annuall}�nnnlyzing Yhe
<br /> eeorotv accotimt, or verifying khe Escrow Itiems, unless Lcncicr}�ays Borrower inYerest on the Funds a�id
<br /> At�plicable Lnw permite Lender tio make such a ohazge. Unleas an agreement is mAde in wi�itu�b or
<br /> Applicable Law reqttires interest.to be�paid on 11ie Puntls, Lender shall not be requir•ed ki pay Borro�ver any
<br /> interaetor ean�ings on tl�c Funds. Borrower and Lender can ngree in wriHiig, however, tlint interest shall be
<br /> paid on thc Ftmds. Leuder sh9ll give to Borrower, w{Yhout charge, an amnini accounting of the Ftmds as
<br /> required by RESPA.
<br /> If tihere is a surplua of'Fuuds I�eld in escrow, as defneci under ILESPA, Lander shall account to Burrower fos
<br /> flie excess fitnds in accnrdanec wiU�RLSPA. If there is a shorfage of I LUTde 1Tcld in escrow, as clafined uncler
<br /> RSSPA, l.endc��shall noCiPy Borrower as reqLured Uy RRSPA, and Borrower eh�ll poy to Lender tha amouut
<br /> nccc,��ary W inalce up tihe shortaga in accordan�o with 1�SPA, bnt ni no moie than 12 mont�l�ly payments. If
<br /> fhere ia n deficiency ot'Ftmds held in escrow, ae deCined nnder RESPA, Lender shall noYifq Borrower as
<br /> znoais�s
<br /> NEORASICA-Singla Feinlly-Fannle MaelFreddle Mao UNIFORM IN3TRl1MENT Form 3020 1101
<br /> VMP@y VIdPfi(NE)(110G) -
<br /> W olters Kluw er Flnancial Services Page 6 011]
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