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�0�20�044 2. Applh�t�n of Payn�r�ts or Pno�ds. Except as othervv�isa described 'm this Saction z, all PaYments accepted and applied by I,ender shall be applied in the following order of priority: (a) int�est due under tha Note; (t�) PrinciPal due under the Note; (c) a�unts dua wnd� Sactian 3. Such payments ahall be applied to each Periodic Payment in the order in wluch it b� due. Any remaining �ow�ts shall be applied first to late cbsrg�, second to sny other a�oimts due under this Seciuity Instmm�ent, aad then to reduce the principal balance of the Note. �f Lender recsives a payment from Borrower for a dalinquent Periodic Payment wluch includes a sufficient aznount to pay any late chazga due, tha payment maq be appliad to the dalinquent paym�t and tha lats charge. If more thaa one P�riodic Payment is outstanding, Lender maY ePPiY �Y PaYment received from Borrower to the repay�ent of the Periodic Payments if, and to the axtent tbat, e�ch payment c�n be paid 'm full. To tha ext�t tthat any excess exists aftar the payment is applied to the full payment of one or �re Periodic Paymenta, such excess may be applied to any late chazges due. Voluntar�' PrePaY�� aha11 ba applied first to any prepay�ent charges and than as' dascri'bed in the Note. Any applic�tion of payments, inauranca proc�eds, or Miscellan�ua Proceeds to principal due under the Note ahall not extand or postpona tha due date, ar chang� the a�imt, of the Pari�ic Payments. 3. Funds for EBtx�ow Items. Borrower ahall pay to Lender on the day Periodic Payments are due imder tha Note, until the Note is paid in full, a sum (the "Fw�ds") to provide for payment of amoimts due for: (a) taxes arnd assessnnents and other itema which can attain priority ov� tbis Sacurity Inat�vment as a liea or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any a�nd all inauranc�e re�uired by Lender under Section 5; and (cn Mortgaga Ins�u�ance pramiums, if any or any sums payabla by Borrowar to Lender in lieu '�of the payment of Mortgaga Ins�u�aaca premiums in accordance with the provisions of Section 10. These items are called "Escrow Itams." At origination or at any time during the tenn of tha Loan, Lender may requira that Cammunity A.ssociation Dues, Fe�, and Ass�sments, if any, be e.scrowed by Borrowar, aud such dues, fees and a�ssnients shall be an F.scrow Item. Bonow� shall promptly fiunish to Lendar all notices of amounts to be paid under this Section. Borrowar ahall pay Lender the Funds for F..scrow It�ms unless Lender waivea Borrower's obligation to pay tha Fu�ds for aay or all Escrow Items. Lender may waive Borrow�'s obligation to pay to Lend� Funds for any or all Escrow Items at any ti�e. Any such waivar may only ba in writing. In the avent of such waiver, Borrower shall pay directly, when and where payable, the amuunts due for any F.scrow Items for which PaYment of Funds has bean waived by Lender and, if Lend� raquires, ahall furnish to Lender recaipts evidencing such pay�ent within such ti�e period as Lender may require. Borrower' s obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in thia Security In,��+*+�+�, as the phrase "cove,nant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items dir�tly, Pursuant to a waiver, and Boirow�r fails to pay the a�unt due for an F.scrow Item, Lendar may axercisa its rights und� Section 9 and pay such amount aad Boaower ahall then 1� obligated under Seclion 9 to repay to Lmder any such a�unt. Lender may revoke the waiver as to aay or all Escrow Items at any tix�a by a notice givan in accordance with Seclion 15 and, upon such reva�bion, Bonower ahall pay to Lende� all Funds, and in such au�u�mLg, that are theu required underr this Section 3. L,ender may, at any time, collect and hold Fwids in aa amount (a) au�icient to permit L.ander to apply the Funds at the tit� s�cified under RESPA, and (b) not to exc�ed tha maximum aznowrt a l�der can raquira imder RESPA. Lender shall e.gtimate the aa�unt of �unds due on tha basis of cutrent data and reasonable estimates of expendi� of futi�re Escrow Items or othervvise in accordance with Applicable Law. 2200287833 D VBANE � Femey-�a�e n�read�e nneo unnFOann mis�tunn�ntr wm� nn� r-wm ao3a tro� VMPBA�NE►11106) W�� p�,� � g�� Pape 6 of 17 �`' � � • � .