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<br /> An� applicat�on of payrnents, insurance praceeds, �r N��sce��aneous Proceeds to pr�ncipal due under�he N�te
<br /> shall nat e��end or p�stpone the due date, or chaua.ge�he am�uri�, af�he P�r�od��Paym�nts.
<br /> 3. Funds for Escrnw Item�s. Barrower shall pay�o Lender�n the day Per�odic Paymen�s are due under�he
<br /> No�e, until the No�e xs paid in fuil, a sum��he "Funds"}t�provide for paymen��f amoun�s due for: �a} taxes
<br /> a.nd assessm�n�s and o�her it�ms�hich can a��a�n pr��r�ty over this S�curity �ns�rumen�a� a�ien or
<br /> encumbrance on t.�.e Pro�erty; �b} leasehold�a�rmenfis or ground rents on the Proper�y, if ar��; �c}prem�.ums
<br /> for any and a�� insuranGe r�quir�d by Lender under Sec�ion 5; and�d} Mor�gage�nsuran�e premiums, �f any,
<br /> or an��um�s payab�e by Borrov�er�o Len�.�r in l�eu�f�he payment vf Mortgage�nsurance premiums in
<br /> accordanc�with the provisions af Sect��n 1.4. Thes�items are�a�led "Escr�vv I��ms." A�orig�na�ion or at
<br /> an�txme during�he term nf��e Loan, Lender may require that�ommuni�y Assacia�ion Due�, Fe�s, and
<br /> Assessments, if any, be escrowed b�Barrower, and such dues, fees and assessments shall be an Es�r�w
<br /> I�em. Borrower sha���romptly furnish ta Lender aI�not�ces of amounts�o be pa�d under this Sec�ifln.
<br /> Barrower sha��pay Lender�he Funds for Escro�v ��ems unless L�nder waives Barr�wer's obligat�on to pay
<br /> �he Funds for any or ali Escraw ��ems. Lender may v�aive Borro�rer's obl�gatian to pay ta Lender Funds for
<br /> any or ai� Escr�w Items at any��me. An�r such v�aiver ma�only be in writ�ng. �n fihe event af such v�a�ver,
<br /> �orrower sha��pa�direc���, when and v�h�re payab��, �he amoun�� due for any Escr�w I�ems for which
<br /> paymen�of Funds has been waived by Lender and, �f Lend�r requires, sha�l furxzis�to Lender re�e�pts
<br /> evidencing such payment w�thzn suc�time perio�.as Lender ma�r require. B�rrower's ob��ga�ian to make
<br /> su�h payments and��pr�vide receip�s s�a�� for aii purpases be de��med to b�a covenan�and agreement
<br /> canta�ned xn th�s Se�uri�y �ns�rument, as�he p�.rase "co��nant and agree�nent" �s used in Sec�ion 9. �f
<br /> Borrower is obliga�ed to pay Escrow�tems dire�t�y, pursuant to a wa��er, and Borr�v�rer fa�1��a pay�he
<br /> am.aunt due for an E�crow �t�m, Lender may ex�rcise its rights under Se��ion 9 and pay such amount and
<br /> Borrower shall then be ob��ga�ed under Sec�ion 9 to repay to L�nd�r any such amount. Lender may re�ok�
<br /> �he waxver as�o any or aII Escr�w I�ems at any time by a n�t�ce given in accardance wi�h Section �5 and,
<br /> upon such re�acatian, Borrower sha��pay to Lender ai� Funds, and�n such amoun�s, ��at ar�then required
<br /> �xnd�r�hi� Sect��n 3.
<br /> Lender may y at any time, co�lect and hold Funds in an amflunt�a} suffic�ent to perm�.t Lender�o app�y�h�
<br /> Funds at the#ime specified under RESPA, and�b} no�ta exceed the max�mum amoun�a�ender�an require
<br /> under RESFA. Lender shall es�imate�he am.oun�of Funds du�an the bas�s of current data and rea�onable
<br /> estima�es of e�pend��ures of future Escrow Z�ems or o�herw�se�n ac��rdance with App�icable Lavv.
<br /> The Funds sha��be held in an inst��u��an whas�deposits are�nsur�d b�a f�dera� agency, �nstrumen�alit�, or
<br /> enti���inc�ud�ng L�nder, �f Lender�s an�nstitut�on whose depasits are so insured} �r�n any F�dera�Hame
<br /> L�an Bank. Lender�hal� app�y the Funds��pay�h� Escrovv Items na Iater�han the time specif�ed under
<br /> RESPA. Lender sha��no��harge Borrower for halding and appl�xr�g th�Funds, annually analyzing�he
<br /> es�row account, or�erifying the�scrow I�ems, unless Lender pays Borr�wer inter�s��n the Funds and
<br /> App��cab��Law p�rm�ts Lender�o make such a charge. Unless an agre�m�nt is made in wri�ing or
<br /> Applicable Law requir�s interes��o be paid�n the Funds, Lend�r shal�no�be requ�reci�o pay B�rr�wer any
<br /> interest or earn�ngs on�he Fund�. Borrow�r and Lender can a�ree in wri�ing, however, �ha��n�eres�shall be
<br /> paid on�he Funds. L�nder sha�l give ta Borr�v�er, wi�hout char��, an annua� accounting�f�he Funds as
<br /> r�qu�red by RESPA,
<br /> �f ther��s a�urp�us of Funds hexd in escrow, as def�ned under R�SPA, Lender shali accaun�to Borrower for
<br /> the e�cess funds in ac�ordance�v�th RESPA. �f�here is a sh�r�age of Funds he�d in escrav�r, as de�ned under
<br /> RESPA, Lender sha�� na�if� Borrawer as requ�red b�RESPA, �.nd Borrower sha��pay�� Lend�r�he amoun�
<br /> nec�ssary�o mak�up the shor�age in a��ordance with RESPA, but in no more than 12 manfh.�y paymen�s. �f
<br /> �her��s a de�ci�nc�af Funds h��d in escrow, as d�fined under RESPA, L�nder sha��notify B�rr�w�r as
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<br /> Walters Kluwer Financial Se��ices Page 5 af 1�
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