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<br /> Any app�ica�ion of paym�n�s, insurance pr�ceec�s, or M�sc���aneous Proceeds to principal due under the No�e
<br /> shall nat extend or pos�pon��he due da�e, �r change the amoun�, of the P�riod�c Pa�men�s.
<br /> 3. Funds for�scrow Items. Borrflwer shall pay to Lender on th�day Per�o�iic Payments are due und�r�he
<br /> Na�e, until the No�e is paid�n fu��, a sum�the "Funds"}�o provide for pa�ment�f arnoun�s due far: �a} taxes
<br /> a.nd assessmen�s and other�tems which�an attain priority over�his Security �nstrument as a��en or
<br /> encumbra.nce�n�he Propert�; (b} leaseh��d paymen�s or ground ren�s on�he Proper��, if an�; (c}premiums
<br /> f'�r any and al� insurance required by Lender under Section 5; and �d} Il�or�gage�nsurance premzums, if any,
<br /> ar any sums pa�a���b�r Barr�w�r ta L�nder in l�eu�f th�payment of N�or�gage Insurance prem�ums �n
<br /> accordan�e w��h�he pro�v�sions�f S�cti�n 14. These�tems are ca11�d "Escrov� I��ms." A�.arigina���n or at
<br /> a.ny�ime dur�ng the�erm of the Loan, Lender may require�hat Community Assacia��on Dues, Fees, and
<br /> Assessments, if any, �e escrawed by Borrower, and such du�s, fees and assessments sha��be an Escrovv
<br /> ��em. Borrovv�r�ha��prompt��furnish�� Lender all noti��s of amounts to�e pa�d under th�s Sec��on.
<br /> Borrn�rer sha11 pay L�nd�r the Funds far Escrow �tem�unless Lender waives Borrower's ob�xgat�on to pay
<br /> the Funds for any or all Escraw I�ems. Lender may�va��e Borr�w�r'S o��igation ta pay to Lender Funds f�r
<br /> any or a�� Escrow �tems a�any t�me. Any such wai�rer may an�y be in wri��ng. In the e�ent of such�raiver,
<br /> B�rrower sha�I pa�direct�y, wh�n and vvhere payab�e, �he amounts du�for any�scrow ��ems for wh�ch
<br /> pa�ment�f Funds has be�n v�aived by Lender and, if L�nder requires, sha�� furnish to Lender receipts
<br /> e�idencxng such payment w��h�n such time period as Lender may requ�re, Barrawer's ob�igation��make
<br /> such pa�rments and�o pro�ide receipts shail far al�purpos�s b�deemed to be a c�venan�and agreem�.ent
<br /> contained in�his Securit��nstrument, as the phras� "co��nant and agreemen�" is used�n Section 9. �f
<br /> Barrower i�obli�ated t�pay Escrow I�ems direct��, pursuant to a wa�ver, and B�rrower fails�o pay th�
<br /> amount due for an EsCrow �tem, Lender may exercise i�s r�gh�s und�r S�ct�on 9 and�ay such amoun�and
<br /> Borrower sha���hen be obl�gat�d under Section 9 to repa�to Lender an�such amount. Lender may revflke
<br /> the waiver as�o any ar a�� Escr�v� I�erns at any time b�a not�ce given�n ac�ordance with Sec��on 15 and,
<br /> up�n such re�oca��on, Borrav�rer sha��pay to Lender al� Funds, and in such amoun�s, that are�hen required
<br /> under�his Section 3.
<br /> Lender rnay, at any t�me, callect and hoid Funds �n an amount (a} suff�c��nt to p�rmi.t Lender�o app�y the
<br /> Funds a��he�irne spe�i�ed u�.der RESPA, and��} n�t�o exceed the maxim.um amount a lender can require
<br /> under RESPA. I.ender sha���stima�e the amoun��f Funds due�n the�asis of�urrent data and reasona�b�e
<br /> estima�es af expendi�ur�s of future Escrov�r ��ems or otherwise i�n acc�rdance with Appiicab�e Law.
<br /> The Funds shall be held in an�nst�tu��on whose depos��s are�nsured�y a federal agency, ins�runzen�a�ity, �r
<br /> en��ty�inc�uding Lender, if Lend�r xs an inst��ution whose deposits are so insure�.} ar in any Federal. �ome
<br /> Loan Bank. L.en�er�ha�l app�y the Funds ta pa��he Escrow I�ems no later�han�he time spec�fied under
<br /> RESPA. Lender sha11 not charge Borrawer f�r ho�dzng and applying the Funds, annuall�analyzing�he
<br /> escrow account, ar�er�fying the Es�r�w Items, unle�s Lender pays Borrower in��rest an the Funds and
<br /> App��cab�e Law permx�s Lender to make such a charge. Unless an agreement is made�n wr�ting�r
<br /> Applicab�e Lav�requires �nterest to be paid�n the Funds, L.ender sha�l no�be required�o pa� Borrawer any
<br /> in�erest or earnings on the Funds. Borrower and Llender can agree in wr�ting, however, th.at interest sha��be
<br /> paid on the Funds. Lender shall g��e t�Borrow�r, withou�charge, an annual accoun�ing of��e Funds as
<br /> requ�r�d by R�SPA.
<br /> �f�here�s a surplus of Funds��ld in escrow, as d��ned under RESPA, L,ender shall accoun��o Borrov�er for
<br /> �he excess funds in ac�ordance w�th RESPA. If ther��s a shor�age of Funds held in e��row, as defined under
<br /> RESPA, Lender shal�no�ify Barrower as required b�RESPA, and Borrower shall pa��o Len�er�he amaunt
<br /> necessary�o make up the shar�age�n accordance vsrith RESPA, but in nn mor��han 12 month�y pa�men�s. �f
<br /> ther� �s a def�cienc�r af Funds held in escrow, as defined under RESPA, Lender shal�n�tify Borrawer as
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<br /> Wafters Kluwer Finar�cia�Ser�ices Page 5 af'�7
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