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<br /> An�app��cat�on�f paymen�s, insurance proceeds, or Mis�e��an�ous Proceeds to princ�pal due under the NoCe
<br /> shai� no�extend or pastpone the due dat�, or change the a�rnoun�, �f�he Period��Paymen�s.
<br /> 3. Funds for Escrow IternS. Borrow�r shail pa� ta Lender an the da� Period�c Pa�ments are due under�he
<br /> Note, un�il�he No�e is paid xn fu�l, a sum��he "Funds"} �a pro��d�for paymen�of amaunts due for: �a} taxes
<br /> and assessments and other xtems v�h�ch can a��ain priarity o�er�his Security �nstrum.en�as a lien or
<br /> �ncumbran�e on�he Proper��; �b} leasehold payments or graund rents nn the Proper�y, if any; (c}pr�miums
<br /> f�r an�and ai� insurance requ�red by Lender under Sect�on 5; and�d} Mor�gage�nsurance premiums, if any,
<br /> or any sums payable h�r B�rr�wer�.� Lender in��eu of the payment af Mar�gage Insurar�ce premiums �n
<br /> accordance with th�pro�r�s�ons�f Sec��on 1�. These items are ca��ed "Escrow I�ems." A�orig�nation or at
<br /> any t�me during the term af�he L�an, Lender may requ�r�tha�.��mmun��y Associat�on Du�s, Fees, and
<br /> Assessments, if any, be escrowed by Borrovver, and su�h due�, fees and assessments shall be an Escrow
<br /> Ztem. Borrower shall promptl� furn��h to Lend�r a��n��ices of amoun�s to�e paid under th�s Section.
<br /> Borrower shall pay Lender�h�Funds for Escrow �tems unless Lender waives Barr�wer's abliga��on�a pay
<br /> the Funds for an�r or a�i Escrow Items. Lend�r may wai��Borrower's o��iga��on to pay�� Lender Funds for
<br /> �ny ar a1I Escrow �tems at an�t�me. Any such waiver may only be in wri��ng. �n th�even��f su�h wa�ver,
<br /> Borr�wer shall pa�d�rectly, when and where payab�e, �he amounts due for an� Escrow i�ems f�r which
<br /> pa�r�m.�nt of Funds has�e�n vwa��ed b�r Lend�r and, xf I.�nder requ�res, shall furnis�to L.ender r�ceipts
<br /> eviden�ing su�h payment within such time period as Lender may requir�. Borraw�r's obiigation�a make
<br /> �uch payments and�.a pra�ide receipts sha�� for all purp�ses�e deemed to�e a covenan�and agreement
<br /> conta�ned in this Secur��� �nstrum.en�, as�he phrase "covenant and agr�ement" is used in Sect�on 9. If
<br /> Borr�w�r is ob�igated to pay E�cro�v ��ems direc��y, pursuan�to a wai�er, and Barrower fails to pay the
<br /> am�un�due for an Escrow��em, Lender ma�ex�rc�se its rights under Section 9 ar�d pa�r such amount and
<br /> Borrawer sha���hen be o��igated under Sec��on 9�a repay�o Lend�r any such arnoun�, Lender ma� revoke
<br /> the wa�v�r as�� any or a�� �scrow �tems at any t�me b�a not�ce given�n acc�rdance w�th Sec�ian I S and,
<br /> upon such revacat��n, Borrower sha��pay to Lender a�� Funds, and �n such amaun�s, that are�hen required
<br /> under this Sec��on 3.
<br /> Lender may, a�any�in1e, colXect and hold Funds in an arnoun��a} sufficien��o permi�L.�nder to appiy�he
<br /> Funds at�he t�m�sp�cif�ed under RESPA, and �b}no�to e�ceed�he maximum amoun�a lender can requ�re
<br /> under RESPA. Lender sha��es�ima�e�he amount�f Funds due on the bas�s of curren�data and reasonab�e
<br /> es�imates of expend��ures of future Escrow ��ems ar otherwise in accordar�ce v�i�h Applicab�e Lav�.
<br /> The Funds sha11 be held in an insti�ut�on v�hos�depasits are insur�d by a federal agency, instrumentality, or
<br /> en�i�y �including Lender, if Lender is an�ns�itution�vhose depasits are so insured} or in any Federal �iome
<br /> Loan Bank. Lender sha�l appl�the Funds to pay the Escro�v�r I�ems no �a�er than�he time specified under
<br /> RESPA. Lender shall no�charge Borrower for holding and app�y�ng�he Funds, annua��y anaxyzing�he
<br /> �SCraW aCCaun�, or�erifying the �scrow Items, unless Lender pa�s B�rr�wer�n�eres�on�h�Funds and
<br /> App�i�ab�e Law permits Lender to m.ak�su�h a�har�e. Unless an agre�ment�s made xn wri�ing or
<br /> Appi�cab��La�v requires �nteres�to be pa�d on the Funds, Lender sha�l nat be r�quired to pay Borrower any
<br /> �n�e�res�or ea�nings on�he Funds. Borrawer and Lender can agree in writ�ng, hawever, �ha��n�er�st shal�be
<br /> paid on�he Funds. Lender sha�� g��e to Borrow�r, wi�hau�charge, an annual accoun�ing of�he Funds as
<br /> requir�d b�RESPA.
<br /> �f there �s a surplus of Funds held �n escrav�r, as defined under R.�SPA, Lender shall acc�unt to$�rr�wer for
<br /> the excess funds in accnrdance v�rith R�SPA. If th�re is a shor�age of Funds�.eld �n escrow, as de�ned under
<br /> RESPA, Lender shall not�f� Barr�wer as required by RESPA, and Borr�v�er shall pay to Lender�he am�unt
<br /> necessary to �m.ake up the shartage in accordance v�ith RESPA, �ut in no n��re�han ��mon�hiy payments. �f
<br /> �here is a defzcienc�r af Funds he�d in escrow, as defined under RESPA, Lend�r sha11 notify Borr�wer as
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<br /> Wolters Kluwer Finar�cial 5er�ices Page 5❑f i 7
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