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<br /> Any app�ica�ion of payments, insuranc�prac�eds, or Misce�laneou� Proceeds�a princ�pa� due under the No�e
<br /> sha11 not ext�nd ar postpone the�.u��a�e, or chang�th�amount, of the Per�adic Payments.
<br /> 3. Funds for Escrow I�em�. Borrower sha11 pay to Lender an�he day Period�c Payments are due under the
<br /> Nat�, un�i�the Note is paid �n fixil, a sum tth� "Funds"}�o provide for paym�n�of am.nunts due for: �a}�axes
<br /> and assessments and a�her i�ems vvh�ch can attain pri�ri�y o�er�his Security �nstrument as a 1�en or
<br /> encumbrance an�he Praper�y; �b}leaseh�id pa�ments or gr�und rents on the Proper��, if any; �C}premiums
<br /> for any and all insurance required by Lender under Sec��on 5; and�d} N�ortgage�nsurance premium�, if any,
<br /> or any sums payab�e b�Borrflwer�o I.ender�n��eu of the payment of N�ortgage�nsurance prem�ums �n
<br /> accordance w�th�he pro��sions flf Sec�ion 14. These�tems are ca�ied "Escrow ��ems." A�arigir�ation or at
<br /> any t�m.e during the�erm of�he Loan, Lend�r may requ�re tha��ommuni�y Associatian Dues, �ees, and
<br /> Assessments, if a�ny, be escrowed b�Barrflwer, and such dues, fees and assessmen�s shall b�an Escrow
<br /> �tem. Borrower shall prompt�y furnish to Lender a��notic�s of amaunts to be paid under�his Section.
<br /> Borrawer s�a�l pa� Lender�he Funds for Escrow ��ems uni�ss Lender waive�Barrower's obl�ga�ion to pay
<br /> �he Funds f�r an�or al� Escrow �tems. I..ender may wa��e B�rrawer's obl�gat�on�o pa��o Lender Funds for
<br /> ar���r a�� Escrow Items at any tim�. An�r su�h waiver may only b�xn wri��ng. In�he e�vent of such waiver,
<br /> Borr�vver shall pay directl�r, when and where pa�rable, the amaun�s due for any Escraw Items for which
<br /> payment af Funds has been waiWed b� Lender and, �f Lender requires, s�a�� furn�sh to Lender receip�s
<br /> e�idenc�ng such paymen�wi�hin such�t�nZe period as L.ender ma�r require. Sorrower's�b�igat�on�o make
<br /> su�h payxnents and�o provxde receipts shall for all purp�ses�e deem,ed ta be�cov�nan�and agre�ment
<br /> contained in�h�s Security �nstrument, as the phras� "covenan�and agre�ment" is used in Section 9. �f
<br /> Borrnwer is�bl�gated�o pay Escrow I��ms direc�ly, pursuant to a waiver, and Borrower fa�1s to pay�he
<br /> am�unt due for an�scrfl�u Itemy Lender may e�ercise i�s rights under S�c�i�n 9 and pay suc�am�un�and
<br /> Borrower sha11�hen be ob��ga�ed under S�ct�on� to repay tfl Lender any such am�unt. Lend�r ma�revoke
<br /> the waiver as�n any or all �scr�w Items at any �im�by a no��ce gi�ren�n accordance wi�h Sect�nn �S a.nd,
<br /> upon such reW�cat�on, Borrower sha��pay�o L.ender all Funds, and �n such amounts, �hat are#hen requ�r�d
<br /> und�r th�s Sec��an 3.
<br /> Lender may, at any time, collect and hold Funds in an amoun��a} suffic�ent to pernc�it Lend�r�o app�y�he
<br /> Funds a��he�ime specified under RESPA, and�b} no��a exceed�h�ma�imum amount a lender can requ�re
<br /> under RESPA. Lender sha11 �st�n�ate the amount of Funds due�n�he�asis of current da�a and reasonabl�
<br /> �stima�es�f exp�nd��ures of fu�ure�scrow Items or atheru�ise in a��ordanc�v���h App�icab�e Law.
<br /> The Funds sha�I�e held in an insti�u�ion whose depos��s are insured by a fed�ral agency, ins�rumentali��, or
<br /> entity �inciuding Lender, if L.ender is an�ns�i�ut�on wh�se deposits are sa insured�ar�n an� Fed�ral �ome
<br /> I.�an Bar�k. Lender shal� apply the Funds to pay�he Escrov���ems n��ater than the time specif��d under
<br /> RESPA. Lender sha��not charge Borrower for h�idin�ar�d appl�ing the Funds, annually analyzing the
<br /> escrow ac�ount, or�er�fy�ng the Escrow �tems, unless Lender pays B�rrower in�er�st on�he Funds and
<br /> Applicable Law permi�s Lender to make such a�harg�. IJnl�ss an agreement�s mad�in writing ar
<br /> Applicab�e Law requ�res interes�t�be pa�d on�he Funds, L.�nder shal�not be required�a pay Borrower any
<br /> in�erest nr earnings on the Funds. gorrov�er and Lender can agree�n writ�ng, h�weWer, that xnteres�sha�i�e
<br /> paid on the Funds. L.�nder sha�� give�o Borrovver, wi�hout charge, an annual accounting�f�he Funds as
<br /> requ�red b� RE�PA.
<br /> If there�s a surplus of Funds held �n escra►�, as def�ned under RESPA, Lender sha�I a�coun��o Borrower for
<br /> �he e��ess funds in acGordanc�vvith RESPA. �f there�s a shar�age of Funds he�d in escr�w, as def�ned under
<br /> RESPA, Lender sha11 notify Borrawer as required�y RESPA, and Barrower sha�l pay�fl I_ender th�amount
<br /> necessary t�make up�he shor�age in accordance wi�h RESPA, bu�in na m.ore than 1�mon�.h�y payments. �f
<br /> there�s a deficienc�of Funds heid in escrow, a�def�ned und�r R�SPA, Lender sha�l notif�Borrower as
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<br /> Wolters Kluwer Financial Ser�i�es Page�vf 17
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