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<br /> 4. Funds for Escrow Items. Borrower and Lender expressly covenant and agree, that until all
<br /> indebtedness owing on said Note and Security Instrument (Hereinafter referred to as "Loan
<br /> Documents") or any renewal thereof is paid, Borrower will keep all Required Insurance premiums,
<br /> taxes, governmental assessments, levies, and charges against said premises that could encumber
<br /> said Real Estate paid as they become due. Borrower's failure to keep such insurance coverage,
<br /> taxes and charges current, as described in the preceding sentence, may result, at Lender's option,
<br /> without waiving any of its other rights or remedies and after giving any notice required by law, in
<br /> Lender paying said insurance, taxes or charges, and the amount so paid, with interest thereon at
<br /> the rate described in said Loan Documents; will be and become a part of the indebtedness secured
<br /> by this Agreement. Lender may elect, the law may require, or Borrower may request that Lender
<br /> maintain an escrow fund for payment of real estate taxes, assessments, insurance premiums, or
<br /> other obligations that might encumber the Real Estate if not timely paid when due. If so elected, if
<br /> required by law, or if Borrower's request is granted, Borrower will pay to Lender on the day
<br /> payments are due under the Loan Documents as amended by this Agreement, until the Loan is
<br /> paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and
<br /> assessments and other items which can attain priority over the Mortgage as a lien or encumbrance
<br /> on the property that secures Borrower's Note ("Property"); (b) leasehold payments or ground rents
<br /> on the Property, if any; (c) premiums for any and all insurance required by Lender under the Loan
<br /> Documents; (d) mortgage insurance premiums, if any, or any sums payable to Lender in lieu of the
<br /> payment of mortgage insurance premiums in accordance with the Loan Documents; and (e) any
<br /> community association dues, fees, and assessments that Lender requires to be escrowed. These
<br /> items are called "Escrow Items." Borrower shall promptly furnish to Lender all notices of amounts
<br /> to be paid under this section. Borrower shall pay Lender the Funds for Escrow Items unless Lender
<br /> waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive
<br /> Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such
<br /> waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and
<br /> where payable, the amounts due for any Escrow Items for which payment of Funds has been
<br /> waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment
<br /> within such time period as Lender may require. Borrower's obligation to make such payments and
<br /> to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in
<br /> the Loan Documents, as the phrase "covenant and agreement" is used in the Loan Documents. If
<br /> Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay
<br /> the amount due for an Escrow Item, Lender may exercise its rights under the Loan Documents and
<br /> this Agreement and pay such amount and Borrower shall then be obligated to repay to Lender any
<br /> such amount and interest as allowed by law. Lender may revoke the waiver as to any or all Escrow
<br /> Items at any time by a notice given in accordance with the Loan Documents, and, upon such
<br /> revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required
<br /> under this section.
<br /> Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to
<br /> apply the Funds at the time specified under the Real Estate Settlement Procedures Act ("RESPA"),
<br /> and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall
<br /> estimate the amount of Funds due on the basis of current data and reasonable estimates of
<br /> expenditures of future Escrow Items or otherwise in accordance with applicable law.
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency,
<br /> instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured)
<br /> or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later
<br /> than the time specified under RESPA. Lender shall not charge Borrower for holding and applying
<br /> the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender
<br /> pays Borrower interest on the Funds and applicable law permits Lender to make such a charge.
<br /> UNMA43 (04-17-11) C.E. I.B. Modification Agreement Page 3 of 6
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