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201210884
<br /> Any applica#ion of pay�nznts, insiaance proceed,q or IvSiscallaneov.e Proceeds tn prmcipaI dec iuider ttte Note
<br /> shall not e�eud ar postpane the due dake, or cf�:nae�e azaou�#,. of the Period:c Fay-mencs.
<br /> 3. Fuuds for Escsow Ifems. Borro�a sLall pa4 ta I,�der on the da}�Periodic Paysenis aze dw,xuider ih.e
<br /> idote; uniil ihc�Tote is paid in fall, a swn(ihe°Pnnds°}to pracide for payment of amounts due for: {a)Taxes
<br /> and asses�mera7:s and other items�hieh ean atiaiu priority oces[I�is Sectuity Insinament as a lien or
<br /> r�rxchimbrsace oa thc Pmp..-zty; �b}leasehold pay�neat�or g�onnd rents on the Propai.;+, if any, (c)prenu��c
<br /> for any aud 2ll insuranee required by Lender under Section 5; and(d)Mortgage Insl.u�ance premiemis, if any,
<br /> or any swns payable by�onow-er to LeuHer in iieu o£#he payiuent of Mortgage Ip.surance pretniums ia
<br /> accordancc with the proFzsioas of Sectzan 10. Th.ese itesns aze calIed"Fscro'�u Items." At ari�nation or af
<br /> any tise d�_ng the tenn af tfie Loaz+, Lender may require that Coa¢mmity r�ssociaL:o-n]7ues, Re�s, and
<br /> 3ssessments, if auy, be escsocaed by Borrower, znd such dues, fees and asse;gm�ts shai.l be an Escrow
<br /> Iter�. 13�rrower sb.all promgtly furnish ta Lender a11 notices of amounts to fie pzid mider this Section.
<br /> $osower shall pay Lender ihe FLu�3s for Escrow I#ems w3less Lender R�aives Bors'ows's ohugalion:o pa}�
<br /> the Fuuds for any or all Escro�r Ifems. Lzrder may waive Borrowa's obLigaEion fo pay tv Lendes Funds for
<br /> any or aIt&s.,�oa•itesas at ar_y time. Anp sucI�waivzr may only be in�,sitiing. In the avent of such waiver,
<br /> Borrowei shall pay directly, whea aad where payab7e, che amounts du.e fur any Escrow-Items for w}uch
<br /> payment of Fimds 33as been waivzd by Lender and, if I,eudzr requires, shall�rnish to Lender receipts
<br /> ezzd:ncing such paymznt within sueh time p.riod as Le�der may recp.tire_ Eorrower's oblieation to make
<br /> such paymenis aud to giovide receiyts sball£c�all purposes be deamed to be a cocenant and agrz�ient
<br /> contained in this Szeurih•Tnc�n,,,,�,� as flie plu,ase"eacenant and ageemcnt" is wai in Section 9. If
<br /> Bozrower is obligated to par Escrow Items tlirecFly, pur�,�uaut�to a waicer, and Porrower fails to pay tlle
<br /> amo�t due ior an Escrow Item, Lander may exercise its ribhts imd�Seetioa 9�d pav such amount and
<br /> Bosower sI�all thcn 6e obligaC�l cwder Section 9 te x pay to Lendez any such avcouat Lender may rzroke
<br /> die���ver as to any or all Eserow Items at any time by a notice�ven in accor�ce w;th Section 1�and,
<br /> upon snch revocatiov, Boixower shall pay to I.ender all F�uxds, and in such amounts; rhst are Then req�rired
<br /> under this Section 3.
<br /> Lender may, af any time, co3lect�d£iola Fuads is an aznount(a) su��c"cent to pzrmit Leader to applg�The
<br /> Fimds at the time spccified wider RESP A, and(b}not io exc�d the maximum av-�ount a Iznder can requue
<br /> undzr RESPA. Lendea sha1l estimate�[kzz acuount o:Funds due on the Uasis of curreu±r}ata and reasonal�le
<br /> esiituales of sxpendfis�es of fuinre Escrou-Ffems or otheru�ise in acccrdance+ntith Appli.caF�le?,aw.
<br /> . The Fimds shall be h:.1d in an insti�iiau�vhose depogits ara isstised by a fecieiral agenc�; inslr�mentality, o:
<br /> entiry(ancluding Lender, if Lender is an insciNrion R�hose deposzts aze so insured}or in any Federal Home
<br /> Loan B�mk. T,znder shall appl�the Funds to pay tha Esceow Items no later thazi;he time�ified�nder
<br /> RESPA. i,eader shall not c3�arge Borrower foz holding and applying the Funds, annvahy anatyzin�fhe
<br /> e,crow account, or verifying the Escraw Iteuis, w�less Leader pa�>�Borrower interest on the Punds and
<br /> ?hpplicable Law permits Lender Lo make suckt a charge. UnIess an agreement is made in writmg ar�
<br /> Applicabfe Laa-req�res interest 4o be paid on the F��ds, Lemdzr s"hall not be rec�ired t�pay Bozrower axiy
<br /> intcresf or earninaac or the F�mds. Borrmuzr and Leadex can agree in vn'ifing, hawevu, thai interest shall be
<br /> paid on the Funds. Le,nder shall�ve to Ecnrow-e.r, wYthout clxarge, an aimual accounung of the Fnnds as
<br /> required by P.�SPA.
<br /> If there is a surplus of F'unds held in escrow, as 8efiaed undet 1ZESPA, Leuder shall accounf to Borrower for
<br /> the excess funds u:accozdauce Rith ItESPA, If t]1ere is z shorta�e of Funds held in escrrnv, as defned unde€
<br /> RESP.4, Les�.er shall notify Boxrower as:equia�ed by RESPA, and Bosromer shall pay to Lender the amouat
<br /> necesssry�to uia�e up fne shortaga in accordance with RESPA,but in no more tt�an IZ monrhly payments. If
<br /> t�ere is a deficiency of Punds hald ia escrow, as defn�d uucier RESP A, Lender shaLF aotify�orrou=er as
<br /> zaaoaase
<br /> N�RSSKASim_fe.FamUy-Fvnie Maei-recdie Mzc IfNIFOiPA INS�RUM 3JT Form 3C28 1/6t
<br /> Vf�JP� VWPG{NE�(;10a}
<br /> lNnlms Klvwer Financial Seriiczs Page5 ot iT
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