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��14�3�99
<br /> An�r applieatian of pa�m.er�ts� in.surance�roceeds, or M�isce��.arieous Pro�eeds to pr���pal due under the Note
<br /> shall not exte�c�or postpone�he�.ue date, or change the amour�t, af the Periodic P�.yme��s.
<br /> 3. �wads fo�E�cro�Itex�.s. Barro�ver shall pay�o Lender�n the day Period�.c Payn�en�s a.re due u�der the
<br /> N�t�, u�a.��l�h�Note rs pa�d in full, a sum�the"Fur�ds"}�o pravide for payme�t of amounts due for: (a��axes
<br /> a.nd assessments and�ther i�ems wh�.ch can at�ain pr�ority over�x�s Security Instru��ent as a Iie�or
<br /> encumbrance or�the Property, �b� l:easeho�d pay�nents ar ground rents an�he Property, if a�.y, [c�premiums
<br /> far any a�d a1I i-nsurance required by Len.der under Sec��on 5; a�d�d}1Vlortgage Irisurance premiums, if any,
<br /> or any sums payable by Borrower ta Lender�.n�.eu of�he paym�i�t Qf Mortgage I�suranee prer�i.t�m�in
<br /> accordance v�rith the prov�si.ans of Sect�on 1�. These xtems are ca.��ed"Escrow Items." A�orig�a�.on�r at
<br /> any�x.me dur�ng�he�erm of�he L�an, Lender may require�hat�ommunity Assac��:�ion I]ues, F ees, ar�.d
<br /> As�essments, �f any, be escr�uuTed by Barrower, and sueh dues, fees and ass�ssments shall be an Esero�v
<br /> Item. �orrawer sha11 pramptly furnish ta Lender a.�I not�ces of a,mounts to be paid under thi�Sect:�on.
<br /> Borrov��r sha1��ay Lender�he�Eur�ds for E�crow Items�un�ess Le�.der wa�ves Borrflwer's ob�i.gation.to pay
<br /> the Funds for a.n�or aII Escrow I�ems. Le�der may waive B�rro-�ver's ob�iga�ion�o pay ta Lender Funds fflr
<br /> any or all Escrow Items a�ar�.y tirm�_ Any�uch wa:iver may or�Iy be in��rriting. In�he even�of such�v�.�ver,
<br /> Borrfl�wer shall pay d�rec�ly, when and where�ayabl.e, �e amouxa.ts due for a�y Escro�Ite�n.5 f�r whi�h
<br /> �aaym.en�of Fu�ds has been v�rai�ved by Lender and, �f Lender requires, s�ia:l.�fu�nish to Lender rece�pts
<br /> ev�c�enc�r�g su�h payment w��h�n such�i�nn.e per�:od.a.�I�ender�ay requa.re. Borrawer?s�bligat�on�a ma�e
<br /> such paylmen�s a�d��provide receipts sha��for a�.�.pur�oses be deemec�t��e a c�ve�ant anc�agreement
<br /> contain.ed�n thi� Secur�.ty Instrumen-�, as the�phrase"covenant ax�d agreem�nt" i.s used in Sec��on 9. If
<br /> Borrawer is obliga�ed to pa.y Escrow It�ms d�rec�ly, pursuant�o a vvaiver, arrd Borrawer fa�ls to pay the
<br /> am�unt due for a-�Escrow I�em, Lender may e�erc�se�.ts righ�s under Sect�on 9 and�ay�uch axnount and
<br /> Barrflwer shall�then be�b�.�.gated under Sec�ion�to repay to Lender any such amo�nt. Lender�.a�r�vake
<br /> the wazver as�o any�r a�l.Escrow Items at any�ime by a not�ce g�ven ir�accard.ar�ce w�.th Sect��n 15 and,
<br /> upon such reva�ation, Borrou�ex sha1�pay�o Lender a1�Funds, and in such am.ou:��s, �hat are then required.
<br /> under�h�s Sect��n 3.
<br /> Lender may, a�any t�nae, co�lect and hald F�ds ix�.a�am.ount�a} suf�xcient ta�ex�m�t Lend.er�o ap�a�.y the
<br /> Funds at the time speci�ed.under RESPA, a��i�b}mot�o e�ceed.t�ie xnax�mum amou�t a�ender can re�uir�
<br /> unde�R]ESPA. Lender shall estimate the amou��of Fu�ds d.ue on the�a.���of current data�.ne�rea�onab�.e
<br /> es�m.ates of expenc�.tures of future E�crow It�m�or��h�rw�se in accordance v�ri�h 1�.pplicab�e Law.
<br /> The Funds sha��.�e heid�.n an�n.s��.tution�rhose depasi�s are insured by a federal agenc�r, i-�strumenta��ty, or
<br /> entity��nc�ud�ng Lender, if Lender is ar��r�stitut�.on whose depo��ts are sa insu:red}ar�ar��Federal Horne
<br /> �Loan Bank. Lender sha1l app�y the Fur�.ds�o pay th��scro,w-Items no�ater�han the time spec�f�ed under
<br /> RESPA. Lender sha�l not charge Borrawer far holding and appl�ing the Fuxa.c��, arua.ua�y ar�a�y�ing tlze
<br /> escrow a��ount, or verifying�he Escr�w Items, �1�ss�enc�er pays�3orrower i-nteres�an t�.e Fun�:s a�d
<br /> Applicab�e Law perm�ts Iae�der to mal��such a charge. �CJnless�.agreement�s made�.n�wr���x�g or
<br /> Ap���cab�.e La�r�equires�nteresf�o be��c�o�.�h���:u-�.d.s, �.ender sh.�I��t�be reqta�r-ec�to�ay I3oxro-�er axzy
<br /> interes��r earr�ngs on t�ie Funds. Bor�awer an.d L,er�dez cari agree in:�rriting, hov�ever, �h.at�terest shall�e
<br /> pard on�he Funds. Le�der shall g�ve ta Barrower, vv�tls�ut charge, an ar�xa:ual account�g of�1ie Funds a.�
<br /> requir�d by RESPA.
<br /> If there is a surplus�f F-unds he�d�.�scro�v, as defined un�.er RESPA, L�nder s�.a�l accau���o Borro�re�for
<br /> �he�x�ess funds in accordanc���th RESP�. If there is a.shortage of Fund�he�d�n escr�w, a5 de�ed under
<br /> RESPA., Lender shall not�.fy Borrawer as requ�red bv RESPA, and�3orrov�rer 5ha1�.pay t�L�nder the amount.
<br /> �.�eessary to make up th.e shart.a.�e�n accordance vwi�i RESPA, but�n no rnQre thax� ��month�y�ay�e�ts. I�
<br /> there�.s a de�'iciency af Fur�ds he�d�escrovr, a,s de�ine�.u�der RESPA, Lender shal�.not�fy Borr�wer as
<br /> 24D�fi�7�
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<br /> Wol�ers Kluw er Financia[5en�ices Page 5 of 1�
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