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201209312
<br /> Any application of paymentS, insurance proceeds, or Mlscellaneous Froceeds to principal due under the Note
<br /> shall not extend or posipoae the dnc date, or change the amount, of'the Periodic Payinents.
<br /> 3. Tunds for Escrow Items. Borrower shall pay to Lender on the day Periodic i ayments aze due under the
<br /> Note, until the Note is pa3 d in full, a sum(the"Fimds") to provide for pa}�ment o£amounts due fnr: (a)ta�es
<br /> and assessments and other items which can attain priority �ver this Security Instaunent as a lien or
<br /> encumbrance on the Property; (b)leasehold payments or ground rents on the Property, if any, (c)premit,m.
<br /> for any and all insu�ance required by Lender under$ecrion 5; and(�Mortgage Inswance,premiusns, If any,
<br /> or airy sums payable by Bono�ver to Lender in lieu of the payment af Mortgage Insurance premiums in
<br /> accordance u�th the procisions of Sectian 10. These items aze called"Escrow Items." At originalion or at
<br /> �ny time during rhe tcnn of the Loan, Lender may reqiure that Coinmunity Association Dues, Fees, and
<br /> Assessments, if any, be escrowed by Bonower, and sueh dues, Pees and assessments shall be an Escrow
<br /> Item. $orrower shaIl prompdy fumish to Lender all notices of aznountc to be paid under this Section.
<br /> Borrower shall pay Lender flie Funds for Escrow Items unless Lender�vaives Borrower's obligarion to pay
<br /> flie Fimds for any or all Escrow Items. Lendcr maywaive]Borrower's obligatiqn to pay to Lendec Funds for
<br /> any or all L.scrow Itcin�at any time. Any such waiver may pnly be in writing In Lhe eveirt of such waiver,
<br /> Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which
<br /> payment of Funds l�as been waived by Lendcr and, if Lender requires, shall fwnish to Lender receipts
<br /> evidencina such payment withiti such time period as L ender may require. Borrower's obligation to make
<br /> such payments and to provide receipts shall for a11 purposes be deemed to Ue a covenant and agreement
<br /> contained in this Secuclty Instnament, as the yhrace"covenant and agreement" is i�sed in Section 9. If
<br /> Borrower is obligated to pay Escrow Items d'uecfly, pursuant to a waiver, and Borrowez fails ta pay the
<br /> amounE due for an Escrow Item, I,ender may exercise ifs rights under Section 9 and pay such amount and
<br /> Borrowcr shall then be obligated under Section 9 to repay to Lender any such amoun[. Lendcr may revolce
<br /> the waiv0r as to any or all Escrow Items at any time by a norice gven in aecordance with Section 1� az�d,
<br /> upon such revocation, Borrower shall pay Co Lender all Funds, and in such amoun[s, that are then required
<br /> under this Section 3.
<br /> Lender may, at any time, collect and hold Funds in an amount(a) sufficient to permit Lender to apply nc�
<br /> Funds at the time specified under RL.SPA, and(U)not to exceed the ma�num amount a lender can require
<br /> under RESPA. Lender sha71 estimate the amount of Funds�1ue on the basis o£cwrarit data and xeasonahle
<br /> estimates of expendihues of future L.scrow ltcros or otherwise in accordance with Applicahle Law.
<br /> The Funds shall be held in an instiiurion whose deposits are insured by a federal agency, instrumcntality, or
<br /> entity (including Lender, if Lender Is an institution whose deposits aze so insured)or in any Federal Home
<br /> Loau Baak. Lender shall apply the Funcls to pay the Fscrow Items no later than i�e tiuie specified under
<br /> RESPA. Lender shall not charge Rorrower for holding and applying ffic FLmds, azinualIy analyzing the
<br /> escrow account, or verifying Lhe Escrow Itcros, unless Lender pays Borrower inlerest on the Funds and
<br /> Applicable Law permits Lender to make such a charge. Unless an agreement is made in wriring or
<br /> Applicable Law requires interest to be patd on the Funds, Lender shall not be reqiured to pay Bortowex any
<br /> interest or earnings on the Punds. Borrower and Lender can a�ee in writing, however, tha[intarest shall be
<br /> paid on thc Funds. Lender shall give to Bonower, withoet charge, an azuiva] accounting of the Funcis as
<br /> required by RESPA.
<br /> if there 3s a surplus of Funds held in escrow, as defined under 12ESPA, Lender shall account to Borrower for
<br /> the excess funds in accordance with RL.SPA If therz is a shortage of Funds held in escrow; as defined under
<br /> RESPA, Lender shall notify F3orrower as required by RESPA, and Borrowcr snall�ay to T.ender the amount
<br /> necessazy to ma.ke up the shortage in accordance wzth RESPA, but in no more than 12 monthly payments. If
<br /> tkere is a deficiency of Funds held in escrow, as defined wlder RESPA, Lender shall notify Borrower as
<br /> N:B�SKASin IeFaml� - 24002fi58
<br /> g yFaMieMae/FretlCieAlacUNIFORRIINSTROMENT Form30281lOt
<br /> VM P(q' V M P6(Nc)(t 1�5�
<br /> W ol.ers Kluwer Fnancial Services Page 5 of 1]
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