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<br /> Any applicat�on of payments, in�urance proceeds, �r N��scellaneous Praeeeds t�principal due under the No�e
<br /> sha�� not ex�end or pos�pone�he due da��, �r change the amoun�, flf�he P�r��dic Payments.
<br /> 3. Funds for�scro��v I�ems. Bflrrower sha�l pay�o I.end�r an the day Per��d�c Payments are due under�he
<br /> No�e, unt�i the No�e is paid �n fu�I, a sum�the "Funds"} �o pro�ride f�r payment of amoun�s due for: �a}taxes
<br /> and assessments and o�her items which can a�tain pr�ori�y a�er this Securi�y�ns�rum.ent as a�ien or
<br /> encumhrance on the Prnper�y; (b} �ea�ehold pa�men�s or gr�und rents on th�Pr�per�y, if any; �c}premiums
<br /> for any and a�� insuranc�requ�red by L,ender under Sec�ion 5; and�d� Mor�gage Insurance pre�miums, if an}�,
<br /> or any sum.s pa�ra�le hy Borrow�r to Lender in l�eu of�he payment of Mor�gage �nsurance premiums in
<br /> accordance wi�h�he pro�isians of Se�tion I�. These�tems are cal�ed "Es�raw ��em.s." A�or��ination or a�
<br /> any�ime during�h�term of�he Loan, L,ender may require�hat Community Asso�ia��on Dues, �ees, and
<br /> Assessments, if any, be escrovued�y Barrower, and such dues, fees and assessments sha��b�an Escro�
<br /> �tem, Borrower shall promp�l�r furn�sh t� Lender all no�ices�f amounts ta be paid under�h�s Section.
<br /> B�rrav�er shall pay Lender the Funds f�r Escrow Items unless Lender wai�es B�rrower's o���gation to pay
<br /> �he Funds for an� or all Escrow �tems. Lend�r may v�ra��ve Borrawer's ob�igation to pay�� L.e�d�r Funds for
<br /> any or aI� Escrovv �tem.s at any�ime. Any such v�a��er m�ay�nly be in writing. �n�he event of such v�ra�v�r,
<br /> Borrower shall pay directl�, when and v�here payable, the amoun�s due far any �scrow �tem� for v�rhich
<br /> paymen�of Funds has be�n wai�ed by Lender and, if Lender requires, shal� furnish�o I�nder receipts
<br /> e��denc�ng such payment w��hin su�h��me p�r�od as Lender may requ�re. Borr�wer's abiigat�on�o make
<br /> such paymen�s and�o pro�ide receipts sha�i for al� purposes be deenaed to be a covenant and agreemen�
<br /> c�ntained in�h�s Security �nstrument, as�he phrase "�o�enan�and agreernen�" �s used in 5ect�on�. �f
<br /> Borrower�s ob��ga�ed ta pay �scrow ��e�ns d�rect��, pursuant to a wai�er, and Borrov�er fails�o pay the
<br /> amoun�due for an �scraw �tem, I.ender may�xerci�e i�s r�ghts under Sec�ian 9 and pa� such amount and
<br /> Borrower shall then be ob�igated und�r Sec�ion 9 to repay to Lender any such amount. Lender may re�nke
<br /> th�wai�er as to any or a�� Escrow ��ems a�an��ime by a no�ice g��en in acGordanc�with Section �5 and,
<br /> up�n su�h re�oca��an, Borrower sha11 pay to Lender ai� Funds, ar�d in such amounts, tha�are then required
<br /> under this Sect�on 3.
<br /> L�nder ma�, at an�time, collec�and h��d Funds in an amount�a} suff�cient to permit Llender to apply�he
<br /> Funds at�he�ime speci�ed under RESPA, and�b} not ta�xce�d the maximum amaun�a Iend�r can r�quire
<br /> under RESPA. Lender shall estima�e the amoun��f Funds due an th�basis of curren�data and reasonab��
<br /> estimates�f expenditures of futur�Escrow Items or o�herwise in acc�rdance w�th App�icab�e Law.
<br /> The Funds shall �e h��d �n an ins�i�ution v�rhos�dep�si�s are�nsured by a fe�eral agency, ins�rumentali��, or
<br /> enti�� tinciuding Lender, if Lender is an �nsti�ution whose depos�ts ar�so �nsured} or�n any Federal ��me
<br /> L�an Bank. Lender sha�1 app�y �he Funds to pa� the Es��ow I�ems n� Iater�han.the time spec���d under
<br /> R�SPA. Lender shall no�charge Borra�rer f�r ho�d�ng and app�y�ng�he Funds, annuall� analyzing the
<br /> escrow a�coun�, or�erifying the Escrav� �tem�, unless L�nder pays Borr��ver�ntere�t an�he Funds and
<br /> Applica�le Lav�permi�s Lender�o make such a charge. Unless an a�reement�s made in wr�t�ng ar
<br /> Applicable Law requires �nter�st to be pa�d nn the Funds, L�nder shall nnt be requ�red�o pay Borrov�er any
<br /> interes�or earnings nn the Funds. Borrovver and L.�nder�an agr�e�n wr��ing, howe�er, �hat interest sha�I be
<br /> paid on the Funds. Lender sha11 gi�e t�Borr�wer, with�ut charge, an annua� ac�ount�ng of the Funds as
<br /> requ�red b�r RESPA.
<br /> If there is a surpius of Fur�ds held in�s�row, as de�ned under RESPA, Lender shali account tn Borr�wer for
<br /> �he e�c�ss funds in ac��rdance v���h RESPA, �f ther�is a shortag�of Funds held in escr�w, as defined under
<br /> R.�SPA, Lender shal�not�fy Borrower as requ�red by RESPA, and Borrower shail pay t� Lender�he amount
<br /> necessar�to make up the shar�ag�in ac�ardance wi�h RESPA, hut�n no mare than 12 monthly payments. �f
<br /> �here is a de#iciency�#`Funds held �n escrow, as de�ned under RESPA, Lender shall not�f� B�rrower as
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<br /> Wa�i�rs Kluwer�inancial 5er�ices Page 5 of�7
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