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201209434
<br /> "covenant and agreemcnY' is uscd in Seclion 9. If Borrower is obligatcd tu pay�.scrow I[ems direcUy, pursuanl to
<br /> a waiver, and Borrowcr fxils lo pay lhe amount duc for an Escrow Item, Lender may exercise ils righls under Section
<br /> 9 and pay such amounl end Borrower shall lhen be obligxied under Secticm 9 to repay to LendE�r any such amount.
<br /> Lender may revoke the waiver as[o any or aIl Escrow Itcros at eny time by a no[ice given in accordnnce with Section
<br /> 15 and, upon such revocation, 13orrower shall pay to Lender all Funds, and in such amounis, thal are then required
<br /> under lhis Section 3.
<br /> Lcnder may,nt any timc, collccl and hold Funds i�an amount(a)sufficicnt[o permit Le�dcr ro apply thc Funds
<br /> at the timc speciGcd under RESPA, and(b)nol to excecd[he mwcimum amount a lender can rcquirc under RESPA.
<br /> Lender shall estimate the amount of Funds duc un (he basis of current data and reasonublc esUmales of expenditures
<br /> of future Escrow Items or othcrwise in accordance with Applicablc Lew.
<br /> Thc Funds shall be held in an instimtion whose dcposits are insured by a federal xgency, instrumentalily, or
<br /> cntiry (including Lender, if Lender is an inslilulion whusc deposits are so insured) or in xny Fedf,Tal Homc Loan
<br /> Bank. Lendcr shall apply the Funds to pay the Escrow Itcans no la�er than lhc time specified undcr RESPA. Lender
<br /> shxll not chazge Borrower for holding end applying the Funds, ttnnually anxlyzing the cscrow account, or vcrifying
<br /> lhc Escrow Items, unless Lender pxys Borrower interest on the Funds and Applicablc Law permits Lend�.v to mnlcc
<br /> such a eharge. Unless an agreemcnt is made in writing or Applicable Law requiros inlerest lo be paid on the Funds,
<br /> Lender shall not be required lo pxy Borrowcr any interesl or carnings on the Funds. Borrower and Lender can agr�ti
<br /> in writing, howcver, lhat interest shall be paid on the Funds. Lcnder shall give to Homower, withou[ charge, an
<br /> annual accoun[ing of the Funds as requircd by RESPA.
<br /> If there is a surplus of Funds held in escrow, as defined undcr RESPA, Lender shall account to Borrowcr Cor
<br /> thc excess funds in accordance widt RESPA. If[hcrc is a shorlage of Funds held in escrow, as dcfincd under RESPA,
<br /> Lender shall notify Bomower as requircd by RESPA, and 8orrowtr shall pay to Lcndcr the amount necessary to mnkc
<br /> up the shortage in accordancc with RESPA, buL in no more Ihan 12 monlhly pxyments. If there is a deficicncy uf
<br /> Funds held in escrow,as defined unde:r RESPA, Lender shall notify BorrowcT xs rcquired by RESPA, and I3orruwcr
<br /> shall pay to Lender lhe xmount necessary to makc up the deficiency in accordence wilh RESPA, 6ut in no morc than
<br /> 12 monthly paymcnts.
<br /> Upon paymcnl in full of all sums securedby ihis Security Ins[rumc�l, Lender shall prompAy refund to Burrower
<br /> any Funds hcld by Lender.
<br /> 4. Charges; Liens. Borrower shall pay ttll la�ces,assessmen�s, charges, fincs, end impositions auributable to
<br /> thc Properly w�hich can xitain priority over Lhis Security Instrumcnt, Icaschold paymenls or ground rents on [he
<br /> Property, if nny, and Community Association Ducs, Fccs, nnd Assessmenls, if any. To thc cxtcnt lhat these itcros
<br /> are Escrow Ilems, i3orrower shall pay thcm in [he manner provided in Seclion 3.
<br /> Borrower shall promptly dischuge any lien which has priori[y over lhis Sccurily Inslrumenl unless Borrowca:
<br /> (u)agrces in wri[ing to the payment oC the obligxtion secured by the lien in a mxnner acc�ptablc lo Lender,but only
<br /> so long as F3orrowEr is performing such agrccmcnl; (b) contests lhc licn in good fxith by, or defends agxinsf
<br /> enforcemen[of the lien iq Iegal proccedings which in Lender's opinion operele fo prevcnt the enforeemcnt of the licn
<br /> whilc lhose procwdings are pending, bul only until such proccedings are canduded; or(c) sccures from thc holder
<br /> of lhe lien an agreement satisCactory to Lcnder suhordinaUng the lien to lhis Security Inslrumcnt. ff Lcndcr
<br /> determincs that xny par[oI lhe Praperty is subjecl lo a lien which oan all•ain priority over this Secvrity Instrumenl,
<br /> Lender mxy give Borrower a notice identifying lhc lien. Within 10 days of the date on which thal nolice is given,
<br /> Borrowcr shxll satisfy the lien or take ona or more of the ac[ions sct forth above in lhis Seaion 4.
<br /> Lender may require Borrower to pay a ono-time chazge for a real estate ta�c verification and/or reporling scrvice
<br /> used by Lender in conneclion with lhis Loan.
<br /> 5. Property [nsuraoce. 13orrower shall keep lhe improvcmenls now exisUng or hercafier crcctcd an thc
<br /> Property insured against loss by firq ha'rdrds included wilhin lhc tcxm"extended coverage," and any other hazards
<br /> including, but not limited lo, earlhquxkes and lloods, for which Lender requires insurance. This insurance shall be
<br /> maintained in lhc amounts (including dcductiblc levcls) and for the periods thal Lcndcr requires. What Lender
<br /> requires pursuant tu thc prcccding scnlences can change during the term of thc Loan. The insurance carrier providing
<br /> thc insurttnce shall be chosen by Borrower subjec,-t to Lender's right to disapprove Borrower's choicc,whichrighl shall
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