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��14�5751 �. Application of Payments vr Proceeds. Except as oth�rwise described in this 5ectivn 2, all pa�ments accepted and appiied by Lender shall be applied in the following order of pr�ority: (a} int�r�st due under the Nate; tb} principai duQ under the No�e; �c} amounts due under 5ectian 3. Such payments shall��appi�ed to each Periodic Payment in the order in which it�ecame due. Any remaining amvun�s shall be appiied f�rst tv late charges, second to any o�her amounts due under this Security Instrument, and then ta reduce �he pr�ncipal balance of the No#e. If Lender recei�es a payment frvm Borrower for a delinquent Periodic Payment�hich includes a sufficient amount to pay any 1at� chargQ duQ, the paymen� may be appi�ed tv the delinquent payment and the late charge. If more than ane Periodic Payment is outstand�ng, LendQr may appiy any payment received from Borravver to the r�paym�nt of the Per�odic Payments if, and t❑ the extent that, each payment can be paid in fuil. Tu the extent that any excess �xis�s after the payment is applied to the full payment af one or more Perivdic Payments, such excess may be applied ta any late charges due. Voluntary prepayments sha�i be app�ied first ta any prepayment charges and then as des�ribed in the Nnte. Any applicat�on ❑f payments, insurance proceeds, ar Miscellanevus Proceeds to principal due under the Nnte sha11 not extend or postpvne�h�due date, ar change the amount, of the Per�odic Payments. 3. Funds far Escrow Items. Barrower sha11 pay to Lender on �he day P�riodic Payments are due under the Nate, until the Note is paid in full, a sum �the "Funds"� ta pro�ide for payment of amaunts due fvr: �a} taxes and assessments and other items which can attain priori#y o�er #his 5ecurity �nsfrument as a lien ❑r encumbrance vn the Property; �h} leasehold payments�r ground rents on �he Property, if any; (c} premiums for any and a11 insurance required by Lender under 5ection 5; and �d} Mortgage Insurance premiurns, if any, vr any sums payable by Borrovver to Lender in lieu of the payment af Martgage Insurance premiums in accordance vvith the pro�isions af 5ection 1D. These �tems are called "Escrovv I�ems." At vrigination ar at any time during �he t�rm af the Loan, Lender may require �hat CommurYity Assoc�ation Dues, FeQs, and Assessments, if any, be escrowed by Borrov�er, and such dues, fees and assQssments sha11 b� an Escrow ��em. Barrower shall pramptly furnish ta Lender al� natices of amvunts �o be paid und�r this Section. Borra�ver sha11 pay Lender the Funds for Escr�w Items unless Lender wai�es Barro�ver'S ohliga#�on to pa� �he Funds for any ar al� Escrow I�QmS. L�nder may waive Barrower's vbligativn ta pay to Lender Funds for any or a11 Escrov�Items a�any time. Any such v�raiver may only be in writing. In the e�ent❑f such wai�rer, Borrawer shall pay directiy, vvhen and vvhere payable, the amuunts due for any Escrow items for which payment of Funds has bQen v�ai�ed by Lender and, if Lender r�quires, sha11 furnish #o Lender receip#s e�idencing such payment �ri�hin such time period as Lender may require. Borrower's abiigation to make such payments and to pro��de receipts sha11 for all purposes be deemed to be a co�enant and agreement c�ntained in this 5ecurity Instrument, as the phrase "co�enant and agreement" is use� in Sect�on 9. If Borrower is obligated to pay EscravW Items dir�c�ly, pursuant to a wai�er, and Borra�ver fails to pay the amvunt due for an Escraw Item, Lender may exercise its rights under Section 9 and pay such amount and Borrovver shal� then be obligated under 5ection 9 to repay tn Lender an� such amount. Lender may re�ake the wai�er as to any or all Escrnvv Items at any tim� by a natic� given in accordance with 5ectian 15 and, upon such re�ocativn, Bvrravv�r sha11 pay ta Lender a11 Funds, an� in such amounts, that are then required under this 5ection 3. Lender may, a� any time, col�ect and hold Funds in an amaunt (a} sufficient to pernut Lender to apply #he Funds at the time specified under RESPA, and �h} not to e�ceed the maximum amount a lender can require under RESPA. Lender 5ha11 estimate the amount af Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items�r otherwise in accordance with Applicable Lavv. 0�'!1 239401 1 5 Citi�ank 3.�83'i9 V2 N�BRA51{A-5mgle Family-Fannie MaelFreddie Mac UNIFDRM iNSTRUMENT WITH MERS Form 3D28 7101 VMP� VMP[aA[NE)(13�2}pp WolEers Kluwer Financ�af Services Page 5 of 7 7