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<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumeatality, or
<br />entity (including Lender, if Lender is an institution whose deposits are so insurecn or in any Federal Home
<br />Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under
<br />RESPA. I.ender shall not charge Borrower for holding and applying the Funds, annually analyzing the
<br />escrow accow�t, or verifying the Escrow Items, unless Lender pays Bonower interest on the Funds and
<br />Applicable Law permits Lender to make such a charge. Unle.ss an ageement is made in writing or
<br />Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Horrower any
<br />interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be
<br />paid on the F�mds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as
<br />required by RESPA
<br />If there is a sucplus of Funds held in escrow, as defined under RESPA, Lender shall account to Bonower for
<br />the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as definefl under
<br />RESPA, Lender shall notify Borrower as re�uired by RESPA, and Borrower shall pay to I,ender the amount
<br />necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If
<br />there is a deficienc.y of Fimds held in e.scrow, as de� under RESPA, Lender shall notify Borrower as
<br />required by RESPA, and Borrower sha11 pay to Lender the amount necessary to make up the deficiency in
<br />acxordance with RESPA, but in no more than 12 �nthly payments.
<br />Upon payment in full of a11 sums secured by this Security Ins�u�ent, Lender shall Promptly refimd to
<br />Borrower any Funds held by Lender.
<br />Char9ges; Liens. Borrower sha11 pay all taxes, assessments, charges, 6nes, and impositions attributable to
<br />the Property wluch can attain priority over this Security Inshvment, leasehold payments or ground rents on
<br />the Property, if any, and Commonity Association Dues, Fees, and Asses�aents, if any. To the extent that
<br />these items are Escrow Items, Borrower shall pay them in the manner providefl in Section 3.
<br />Hoaower shall pro�tly discharge any lien wluch has priority over tlris Sacurity Instrument unless
<br />Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable
<br />to Lender, but only so long as Boaower is performing such agreement; (b) contests the lien in good faith by,
<br />or defends against enforcement of the lien in, legal proceedings wluch in Lender' s opinion operate to prevent
<br />the enforcement of the lien while those proc�edings are pending, but only until such praceedings are
<br />concludad; or (c) secures from tha holde� of the lien an agreement satisfactory to Lender subordinating tha
<br />lien to tlus Se�urity Instrument. If Leader deternmines that any part of the Properiy is subject to a lien which
<br />can attain priority over titis S�vrity Instrument, Lender may give Bonower a notice identifying the lien.
<br />Within 10 days of the date on which that notice is given, Boaower sl�all satisfy the lien or take one or more
<br />of the actions set forth above in tlus Section 4.
<br />Lender may renuire Borrower to pay a one-time charga for a reat estate tax verific�tion and/or reporting
<br />service useci by I.ender in connection with tlus Loan.
<br />Property Insurance. Borrower sha11 k�p the improvements now existing or her�fter erected on the
<br />Properiy insured against loss by fire, �aZazds included within the terrm "extended coverage,�� and any other
<br />hazards including, but not limited to, earthquakes aad fl�ds, for which Lender requires insurance. This
<br />insurance shall be maintained in the amouats (including deductible levels) and for the periads that L,ender
<br />requires. What I.ender requires pursuant to the preceding sentences c�n chaage during the term of the Loan.
<br />The insiu�ance cerrier providing the insurance shall be chosen by Bonower subject to Lender's right to
<br />disapprove Bonowar' s choice, wltich right shall not be exercised unreasonably. Lender may require
<br />Borrower to pay, in connection with tlus Loan, either: (a) a one-time charge for flood zone determination,
<br />certification and tractdng services; or (b) a ono-time cherge for flood zone determination and c�rtification
<br />Y20048408g D V9ANE
<br />iKA-S6q�le FemQy-FanNe Mae/Freddle Mea UNIFORM INSTFtUMENT WRH MER3 � Form 3038 7l07
<br />VMPBA�NE) (1106)
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