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<br /> Any applicatian af payaments, insurance proceeds, or Misc���aneous Proc�eds to pr�ncipai due under the Note
<br /> shall not ex�end�r pas�pone the due date, or change�he amount, of�he Per�od�c Paym�nts.
<br /> 3. Funds for Eserow I�ems. Borrower shal� pay to L�nder an the da� Periodic Paymen�� are due under the
<br /> No�e, unt�l�h�Nfl��zs paid �n full, a sum�the "Funds"�to prov�de for paymen�of amounts due for: �a}ta�es
<br /> and as�essments and oth�r items vsrhzch ca.n.a�ta�n prior�ty�ver thzs Securxty �nstrument as a��en or
<br /> �ncumbranc�an the Proper�y; �b} ��as�hald payments ar ground rents on the Proper�y, if any; �c}pr�m�ums
<br /> for any and a�l �nsurance requ�red�y L�n�er under S�ct�n�5; and �d} Mar�gage Insurance premium�, if any,
<br /> or any sums payable by Borrower�o Lender in�ieu of the payrnent af Mor�gage�nsuran��prem�ums in
<br /> accordance w�th the provisi�ns af Section 1�, Thes�i�ems are cal�ed "Escrow �tems." At arigination or at
<br /> an���n�e dur�ng the�erm of the Loan, Lend�r z�n.ay requ�r��hat Cammunit�r Associati�n Dues, Fees, and
<br /> A�sessments, �f any, be escr�wed by Barrow�r, and such dues, fe�s and assessments sha��be an Escrov�r
<br /> �tem. Barrawer sha�l pr�m,pt�y furnish t� Lender a�l n�t��es af am�unts to be paid und�r�his Section.
<br /> Borrav��r shall pay Lender the Funds for�s�row �tems unless I�ender wa�ve�Barrawer'��b��ga�ian��pay
<br /> the Funds for any or a11 Escro�v Items. Lender may Wai�e Borro�ver's ab�igat�an��pay to Lender Funds fflr
<br /> any nr a�� Escrow �tenzs a�any�ime. Any such waiver may only be in writing. �n th��ven�of su�h wa�ver,
<br /> Borrawer shall pay direc�Iy, �vhen and wh�re payab�e, �he amounts due for any Escrow ��ems fnr wh�ch
<br /> payment of Funds has been wai�ed b� Lender and, if Lend�r requ�res, shal� furn�sh�o Lender receipts
<br /> �videncing su�h payment w��h�n su�h time perzad as Lender may requ�re, Borr�wer's obli�ati�n�o make
<br /> such pa�men�s and�o provide receipts sha�� far all purposes be deemed to be a�ovenant an�.a�r�emen�
<br /> contained in this Security Instrument, as the phrase "cavenant and agreement" is u��d in Sec�ion 9. �f
<br /> Barrower�s obl�gated to pay Escrour Items directly, pursuant�� a v�raiver, and Borrawer fa�1s�o pa��he
<br /> amaunt due for an Es�row �tem, Lender ma�exerc�se xts r�ghts under S�c�i�n 9 and pay such amoun�and
<br /> Borr�wer shall then be obligated under Sec�ion 9 to repay to Lender any such amoun�. L.�nder may r��oke
<br /> �he waiver as to any or a�� Es�row Items at any time�� a na�ice gi�en in accordance with Section 15 and,
<br /> up�n such revacati�n, Borr�wer sha�l pay t� Lender a�� Funds, and�n su�h amaunts, �ha�are�hen requ�r�d
<br /> under�his Secti�n 3.
<br /> Lender�nay, a�any��me, c���ect and h��d Funds ��an am�un��a} suffici�nt to perm�t Lender to apply the
<br /> Funds at the time specified under R�SPA, and �b� not to ex�e���he maximum amount a lend�r can require
<br /> under RESPA. Lender sha�l estimate the amount af Funds due an�h�basis of curr�nt data and reas�nab�e
<br /> est�mates of expend�tures af fu�ure Escrow �tems or otherw�se in accordance with Applicable Law.
<br /> The Funds shall be held in an ins���u��on whase depos��s are�nsur��by a f�dera� ag�nc�, instrumentality, or
<br /> en�ity �including Lend�r, if Ijender is an inst��u�ion wh�se depasits are so insur�d� ar in any F�d�ra� �3om�
<br /> Loan Bank. Lender shal� apply the Funds to pay the Escrovv Items na later than�he ti�ne�pecified under
<br /> RESPA. L,ender sha�� no�charge Borrower f�r hald�ng and appl��ng the Funds, annua�ly anal�zing the
<br /> es�r�w acc�unt, or��rifying th.e Escrow ���ms, un��ss Lender pays Borrower interest�n the Funds and
<br /> App�icab�e Law p�rmits Lender to mak��uch a charge, Un��ss an agr�ement �s made�n wr�ting or
<br /> App�icab�e Law requ�res �nterest t��e paid on the Funds, L�nd�r sha��no�be required to pay B�rrower any
<br /> interest or earn�ngs on�he Funds. Borrower and L�nd�r can a�ree�n wr�t�ng, h�w�ver, that�nterest�hall be
<br /> paid an the Funds. Lender sha�I give ta Borrower, withaut charge, an annua� ac�aunting of the�unds as
<br /> required by RESPA,
<br /> �f there is a surp�us of Funds he�d in escrow, as de�ned under R�SPA, L�nder shali ac��unt to Barrawer for
<br /> �h�exc�ss funds in accordance with RESPA. If there�s a shar�age af Funds held in�scrflw, as defined under
<br /> RESPA, Lend�r sha�I not�fy Borrawer as requir�d by RESPA, and Borrower shall pay�o Lender the am�unt
<br /> necessary��mak�up the shor�ag��n accordance v��th RESPA, but �n no rnore�han I�month��payments. �f
<br /> there �s a d�f�c�ency af Funds held in escrow, as defined und�r RESPA, Lender shai� n�t�fy Borro�r�r as
<br /> N�SRASI{A-5ing�e Famity-Fanni�Mael�reddie Mac UNI��RM lNSTRUM�NT Form 3028 1101
<br /> VMP Q VMP6{NE�t�342)
<br /> Watters iCtuwer Fin�ncia!5er�ic�s Page 5 of 17
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