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201210890
<br /> Any applicatima o£payments, insurance proceeds, o��Miacellat�ieous Procoeds to principal c�ue undar the Note
<br /> shall noE cxtend or postpone fl�e due daCe, or change the amount, of th�Periodic 1'a3nnents.
<br /> 3. Fmids for Escrow Itcros. Bon�o�ver sha11 pny to Lender on the day Vcriodic Payinents are clue under the
<br /> Note, until Lhe Note is paid in full, a sum(the'Bunds") to provide for pagment of unomrts due for: (a)taxes
<br /> and assessmexits and other items wlvch can attain priority over this Seci�rity Instrument as a lien or
<br /> enoumbxunoe on Lhc Pro�erty; (b)loascholci payinents or ground rents on the Propetty, if�ny, (c}premiurns
<br /> for any and all insurince required by Lender under SccCic>n 5; uid(d)Mortgage Insnrance pre�ruums, if any,
<br /> or any sums payable by Borrower ko Lencler in lieu of the payment of Mortgage Insurance pramiums in
<br /> accordance wikl�the provisions of Section 1�, Tl�ese items are called"�Sscrow Itenvs." At origination or Qt
<br /> any time daring fl�c tcrin of the Loan, Le.nder may require that Gouununity Association Dues, Fees, and
<br /> Assessments, if any, be escrowed by Borrower, and such dues, Pees ax�d asscssments shall be an Escrow
<br /> Item. Borrowcl•ahall proinptly tiuiush to Lender all no6ces of�mounts fo bo paid Lmder this Section.
<br /> Borrower sha1l pay Lender tlie,Funds for Escrow Items unless Lender w�ivas Borrower'� oUligatiov to pay
<br /> the Fui�ds for atry�r al1 F,scrow Items. Le�lder may waive Bon�ower's obligefion to pay to Lendex Pnnds Fpr
<br /> nty or all L�earow Itev�s at�ny time. Any such w�ivcr may only be ui writing. In Yhe event ofauoh wai.ver,
<br /> Borrower shall pay directly, when and wheie payable, the ainoimts duc for any Escrow Itenis for wlrich
<br /> payment of Funds hes been waived by Lender wd, if Lender requires, eh211 furnish to Lende,r rccaipts
<br /> evidencaig snchpayment witl�in such rime period as Lender�na�y require. Barrower's ob'�gation fo mnke
<br /> sucli p�rymenta and to provide raceipCs el�all for �ll���urposes be deemed to be a covenant and agieement
<br /> confained in this Securitg Inshvment, ns H2e phtase "covenant and ag��ecrnent" is used iai Seotion 9. If
<br /> Borrower is obligatecl to pay Escrow IYema direotly,pursv�nt to a w�iuer, and]3orrowcr fails to pay tl�e
<br /> amount due f'or an Esorow IYem, Lender may exercise its rights under Secfion 9 anci pay snch amoLmt��d
<br /> Borrower shzll then be obligated wider Section 9 to repay to Lender nny such nmotmc. Lander may revokc
<br /> the waiver as to airy or all L�scrow lteins at wy time by a notice given in�ecoxdnuce witlx Section 15 flnd,
<br /> upon such revocation, Borrower shall pay to i,e�ider aIl Fwicis, and in such emounYs, th¢;are then required
<br /> �mder this Section 3.
<br /> Lender may, at any&mc, collcct�nci hold Punds in�n tunomrt(a) stitffioient to permit Le�ider to apply�the
<br /> P'tuids aC Che riine speoifaed under RBSPA, and (b)not to exceed Che maxinlum an�ount a lender cau requii e
<br /> under RESPA. Lender shall esfimate flia amount of Funds due on the b�sia of cuneut data and reasonable
<br /> estiiruttes of cxpcndituros aLfii[ure�soro�v Items or oChexwise in accordance with Applicable Law.
<br /> The Funds,shall Ue helcl in an institution whose deposits ue insLu�ed Uy a federal agency, insCrtunentality, or
<br /> entity (including Lender, if Lendc�' is an insfitntion whosc deposits ate so insured) or in a�iy Federal Home
<br /> Loan$�ilc. Le��der shall apply the Funds to pay Cl�e L+scrow Iton�s iio latcr tht�n the fime specified imder
<br /> RESPA. Lend�r sha11 nof charge Borrowex for holding and�pplying thic�Fi�nds, annnally analyzing lhe
<br /> eserow flocount, ar verifying the Escrow Items, m�less Lender peys Borrower interest on the Puuds and
<br /> Applieable Law perinits Lencier to make such a charge. Unless an agreemeuE is m¢de in writing or
<br /> Applicable Law xeqtiuxes intcrest to be paid on Chc Funcls, Lcndct ehall not be rec�uired to pay Borrower any
<br /> interest or earvings on Che Ptmds, Borrowei uid Lender c�n agree it1 writing, however, fl7a6 inC�,Kesf sl�nll bc
<br /> paid on Yhe Punds. Lender shttll give to Borrower, withotiit charge, an aimu�l acoounting of the Puvds as
<br /> reqLured by RESPA,
<br /> If thes e is a surplus of'Funds held iai escrow, as defined mider RESPA, Lender slujll account to Borrower for
<br /> the exoess funds in accordance with RESPA. Tf tl�ere is a sUortage of Puvds held in escrow, as daFinad under
<br /> RESPA, Lender shell notify Rorrower�s rcquircd by RLBYA, and,Borrower shall pay to Lencier the amotmt
<br /> necessary to ma1ce up the shortage in �ccord�noe wihh RLSPA, but in no rnorc thai� 12 monthly paymente, If
<br /> E[iere is a dcficie�icy oFPunds held in esorow, as deFined undex RESPA, I,ender shall norify Borrowar ne
<br /> 2A003136
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<br /> V�UP �O VMP6(NE�(11051
<br /> W olters ICluw ar�inanuial Sarvlces Pn�je 5 of t Y
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