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<br /> Any appiica��on of payments, �nsurance proceeds, �r M�sc�iianeous Prace�ds to principa� due under the Note
<br /> shall not�x�end or postpone the due date, �r change�he arnaunt, of�he Period�c Paymen�s.
<br /> 3. Funds far Escrow I�ems. B�rrow�r shai� pa� to Lender�n the day P�riodic Payments are due under the
<br /> Note, until �he Note�s pa�d in fuli, a sum��he "Funds"} ��prn�ride f�r paymen�of amounts due far: �a} taxes
<br /> and assessm�nts and nther items which can at�ain prior�ty o�er�his Security �nstrum�n�as a��en�r
<br /> encumbran�e on�h�Property; �b} leasehold payments or ground rents on�he Proper�y, if any; �c�pr�miums
<br /> for an� and all insurance r�quired�y Lender under Sect�on 5; and (d} Mor�gage�nsurance premiums, if an�,
<br /> or an� sums payab�e by Barrower to Lender�n�ieu of the pa�ment of Mor�gage Insurance premiums in
<br /> a�cordanc��rith the pro��si�ns of S�ctian 10. T`hese �tems are cal�ed "Escrow It�ms." At origina��on or at
<br /> any time during �he�erm af the Loan, Lender may r�quire that Communit�Assoc�a���n Dues, Fees, and
<br /> Assessmen�s, if any, be escr�wed by Btirrower, and su�h dues, fees and assessments shal�be an Escrov�
<br /> �tem. B�rr�wer sha��pram�ptly furnish�a Lender aIi noti�es of amounts ta be pa�d und�r th�s Se���on.
<br /> Borrawer shall pay Lender the Funds f�r Escraw �tems un�ess Lender vwazv�s Borrower's obliga�ion to pa�
<br /> �he Funds for an��r aI1 Escrow ��en1s. Lender ma�wai�re Borrov�er's obl�gation to pay�o I.�nder Funds for
<br /> ar�y ar a11 Es�r�w ��ems a�any t�me. Any such wa�ver ma�on�y be in vvri�ing. �n�he even�of such v�a�ver,
<br /> B�rr�wer sha��pay direc��y, when and where pa�able, the amounts due for any Escra� �tems for�vh�ch
<br /> paymen�of Funds has b�en wai��d by Lender and, if Lender requires, shal� furnish to Lender receipts
<br /> evidencing such paymen��vithin�uch�ime period as L�nder ma� require. Borrow�r's a�l�gation��make
<br /> such payments and�a pro�ide receip�s shall for all purpases be deemed�o be a cavenant and agreement
<br /> c�ntained in th�s Security �nstrument, as the phrase "c�venant and agre�m.en�'i �s used in Sec�ion 9. �f
<br /> Borr�vver is�b�iga�ed to pa� �scrow�tems d�rectly, pursuant to a�ra��er, and Borrov�rer faiis to pa��he
<br /> amount due far an Escrow ��em, Lender may exercise its r�ghts under Section 9 and pay such amaun�and
<br /> Borrower sha��then be abligated under Section 9�� repay ta Lender any such amount. Lender ma� r��rake
<br /> �he wai��r as�o any or a11 Escr�w ��ems a�any�ime by a not�c�given in accordanc�w��h Section 15 and,
<br /> upon such re�raca�ion, Borrow�r sha�.�pa��a Lender a�� Funds, and in such amoun�s, that are the�requir�d
<br /> under�h�s Sec�inn 3.
<br /> L�nd�r may, at any time, collect and hold Funds zn an amoun� �a} suf�cient to perm��Lender�� apply the
<br /> Funds at�he time spe�i�ied under RESPA, and �b}no��o exceed the maximum amoun�a Iender can require
<br /> under RESPA. Lender s�ali est�ma�e�he am�unt of Funds du��n the basis of eurrent data and r�asona�b�e
<br /> estimates of�xpend�tures of future Escrow Items or��herw�se in accordance�nrith Appl�ca�le Law.
<br /> The Funds shaii be held �n an ins�itution�nrhnse deposits are�nsured by a federal ag�ncy, instrument�li�}�, or
<br /> enti�� ��nclud�ng Lender, if Lender is an ins�i�ution wh�se deposits are so insured} or in any Federal Hame
<br /> Loan Bank. L.�nder shali appl�th�Funds to pay the Escr�ur �tems n� �ater than the t�me spec��ed under
<br /> RESPA. I.�nder sha�l not charge Borrovver f�r holding and apply�ng the Funds, annually analyz�ng�h�
<br /> escrflw acc�un�, or�rerify�ng the Escrow ��ems, un�ess Lender pays Barrower inter�st on�he Funds and
<br /> App�icahle Lav�p�rmi�s Lender t�ma�e such a charge. Un�ess an agreemen�is made in v�ri�in��r
<br /> Appl�cabl�Law requires interest to be paid on the Funds, Lender shal� nat be requir�d to pay Borrower an}�
<br /> interes�or earnings on�he Funds. Borrower and L�ender�an agree in writin�, h�w��er, tha�interes�shal�be
<br /> paid on�h� Funds. Lender shall gi�e to Borrower, without�harge, an annua� accounting of�he Fun�.s as
<br /> required b� RESPA.
<br /> If�here is a surpius of Funds held in escrow, as def�ned under RESPA, Lender shai� account��Barrourer f�r
<br /> the excess funds in accordance w�th RESPA. �f�here xs a shartage af Funds held in escraw, a�de�ned und�r
<br /> RESPA, Lender shail notify Borrawer as required b�r RESPA, and Borrawer shall pay�a Lender�he am�unt
<br /> nec�ssar�ta make up the shor�age �n accordance w�th RESPA, but in na more�han I�mon�h�y pa�ments. �f
<br /> ther�is a de�c�ency of Funds heid �n escrow, as def�ne�und�r RESPA, Lender shaii not�fy Borr�wer as
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<br /> VMP Q VMP6�N�)�i 302)
<br /> Wolters Kluwer Financial Ser�ices Page 5 vf�7
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