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201207370
<br /> Any applicalion of payments, nisurpnoe proceeds, ac Miscellaneoue Proceede to principal clue under the Note
<br /> ehell not extend or postpona tha due date, or cl�ange Uie amoimt, of the Pariodio Payments.
<br /> 3. Tnuds for Eacrow Itcros. Borrower s1u�11 pay to Lender on the day Pari�dic Payments a�e due under the
<br /> Note, until the Not�e is paid in full, d sum (thc"l�w�ds") to providc for paymcnt of ai��ounts duc for: (a) taxce
<br /> au$assessments and othor iteme which c�n aCCain priorily over this Securit'y I�istrumenC�s n lien ar
<br /> encurnbiaucc on Che Pinperty; (b) leasehold payments or gromid rents on the Propexty, iE any; (c)preaniums
<br /> for auy and all insiv�nce required by Lender under Section 5; a�id(d)Mortgage Insmance preiniums, if auy,
<br /> ox any sums payable by Borrower To Lender in lieu of the payment of.Vlortgage Insnrance premiums in
<br /> accorduice wifli 11ie�invisions of Secfioil 10. 'I'l�ase items arc caUed °Lscrow itoms." At originllioi�i or aC
<br /> any tiine diuing thc tcnii of the LoAi�i, Lendec may require Cha�t Cornmunity Asaociation Dues, 1�ees, ancl
<br /> Assesemonts, if any, be eserowed by Rbrrower, an�i such duen, fc�ee and nesashmcntF sh�Ll bc au�sorow
<br /> Item. I3onower sl�all�romgCly fumish Co Lencler al1 norices of nmonnts to ba paid t�nder tlzis Section.
<br /> Borrower shall pAy Leuder the Punds for P�sorow Items miless Lender waives Boirower's oUligation to pay
<br /> the I�nnds For nny or all Escrow Iteuis. Lender may waive Aorrower's obligation to pay to Lencier P'imds �for
<br /> auy or a�ll L'scrow Items at�ny time. Any�uch waiver nlay only be in writing. In the event of snch wAiver,
<br /> Borrower sl�Rll pay dircctly, wl�ien and wkiere�a�qeble, the�unounts due for Atiy Escrow Items Por which
<br /> puyment of Funds has been waived Uy Lender nncl, iF Lender requires, shall fmnish to Lender reccipta
<br /> cvidencing suoh pnyixtenC wiChin sucli tiina period as Lender roay reqLure. F3orrowcr's oUligatipn Co tnake
<br /> such paymeuts anci fo provide receipts sha71 for all purposes be deemed Co he a eoven�nU and agreeinent
<br /> contained v�fl�is Seourity Ine6rnment, as the pYuAse"covenant and agreement" ia usod in 6eotion 9. PF
<br /> Bc�rtower ifi obligated to p�ty Esero�a Ttems directily, pursuant�to�waiver, and Tion�ower fails to pay the
<br /> �mount due foa•an Lscrow Iten�, Lender mny cxcroisa itie righis iuider SecCion 9 and pay suoh amount nnd
<br /> Borrower shall t7�en bc obligaCec{uncler Section 9 to repay to Lender nuy sucli tunottnt. Lender mc�y revolce
<br /> tho waiver ae to nny ox all Eaerow Iteins at Any tune by a noGice given in accordancc with Seot�oa 15 anci,
<br /> upon such r�vocation, Borrower shz1l pay to l.en,dcr all A'unc�s, and in such an�oimts, lh�t are then required
<br /> uncler this Section 3.
<br /> Lender mny, at aaiy tima, collect a��d hold Niu�ds iii an amnuuL(a) sitfGcient to permit Lender to apply Y1ie
<br /> Fuuds at tlie time specified m�der RLSPA, and (b) not to exceed the maxiunun amount alendar can require
<br /> unde� R'LSPA, Lender shnll estimate the atnount of Funds dua on the basis of current data and reasonable
<br /> estimates of expenditures of fidure Lscrow Iten�s or otherwise in ticcordance with Appliceble Law.
<br /> The Ftuids sliall Ue held iu an institutiun whose deposits nre insurecl by a FederAl egency, iiistr•tunentality, or
<br /> entify(incliiding Lenclet, if Lender is an institution whose deposits are so in.sured)�or in any I�cdoral Homo
<br /> Loan Bamlc Lender sha11 apply tl�e Puuds to pay thc N,scrow ICcros no lafcr than tl�ie Lin�e specified under
<br /> RESPA. Lender sha11 not cl�argc Borrowex 1'or holding ancl Applying the I+1mds, annually auTlyzing The
<br /> escrow accoLnrt, or verifymg the�scrow Itema, unless Lender pays IIorrower interest on t1Te Punds and
<br /> A�>plicable Ltiw pernuts Leuder to make suoh a charge. Unlees an ugreemcnt is mado ia� wrilii7g or
<br /> Applicnble Law rec�ttires inCeresC fo l�e par�1 on the 1�unde, Lunder shatll not be required to pnq Bocrower any
<br /> interest or ea��uings on the l^unds. Borrower aiici Lender oan agree in wriYing, however, tliaC interese shall Ue
<br /> paid on t1�c 1+''ui7ds. Lender shnll give to Borrower, without charge, au annual acaonnting cif the Nunde as
<br /> renuired by I2ESPA.
<br /> If there is a swplus ol'Punds Ueld in escro�v, ae dofincii inider P�LSPA, Lendex slisll acconiit Co Bonower fox
<br /> Che excess fiinds in accorc3ance wifh RLSPA. If there is a shortage of runds held iix eserow, as defined under
<br /> R�FSPA, Lcnder shell notify Boirower as required by RT�'SPA, and I3orrowee ahall pay k>Lcndcr tlie atnotmC
<br /> riecessnry to make up the shartage in accordancc�wiCl�K}3SYA, Uul'in no more th�n 12 monthly p�yments. IP
<br /> there is 1 deficienoy of Punds hcld in oscrow, as defined under RESPA, Lender sh�ll uocify Borrower as
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<br /> yp�p U VM P6(Nf)f 17 D6(
<br /> Wollers I<luwer Flnanclol Scrviccs Pnfle 5 of 1%
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