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<br /> Any app�ica�ion�f payments, �nsuranc�proceeds, or Miscellaneous Proceeds��principal due under fhe Note
<br /> sha�l n���xtend�r pastpon��he due da�e, or change the amoun�, af the Periodic Payments.
<br /> 3, �`unds for Escrow Items. Barra�er sha�l pay to Lender on the day Periodic Pa�m�nts are due under the
<br /> Note, un�x�the N��e is paid �n fu�l, a sum�the "Funds"}�fl pro�ide for pa�ment of amounts due for: �a} ta�ces
<br /> and assessmen�s and o�her items v�hich�an at�ain pr��r�t�over this Security �ns�rument as a lien or
<br /> .
<br /> encumbrance�n the Pr�per�y; �b}Ieasehold pa�ments or ground rents an the Fropert�r, �f any; �c}prem�ums
<br /> for any and all �nsura�nce required b� Lender und�r Se��ion 5; and �d} Mortgage Insurance prem�ums, if an�,
<br /> ar an�r sums payab�e b�r Borra�r�r to Lender in��eu af the paymen�of N�nrtgag� Insurance premiums �n
<br /> a�cardance v�i�h�he pr�v�sions af Sec�ion I D. These x�ems are called "Escrow �tems." At origina�i�n or at
<br /> any time dur�ng�he�errn of the Loan, Lender may requ�re tha���mmun�ty Assoc�a�ian Dues, Fees, and
<br /> Assessmen�s, �f any, be escrowed by Borrow�r, an�such dues, fees and assessments shal�be an Escrov�r
<br /> Item. Borr�wer shaii pr�mptly furnish to I�nder a�l nat�ces of amaunts���e pa�d under this �ect�on.
<br /> Bnrrow�r shall pa�r Lender�he Funds for Escraw i�ems un�ess Lender wa��r�s Borrower's obli�at�an to pay
<br /> th�Funds f�r an��r al� Escrow ���ms. Lender may v�ai�e Borro�nrer's ob�iga�ian�o pay t� Lender Funds for
<br /> an.y ar a�� Escr�w I�ems at any�im�. Any such wai�er ma�oniy be in wr���ng. In the ev�nt�f such wa�ver,
<br /> Barrower shal�pay d�rect�y, when and where pa�ab�ea the amoun�s due for any Escraw �tems for wh�ch
<br /> payment of Funds has been wa�ved�y Lender and, if Lender requ�res, shail furnish to Lender rece�pts
<br /> evid�n��ng such payment vvi�hin such time per��d as Lender may require. Borrov�er's obi�ga��on ta make
<br /> such paymen�s and�o pro�ide receip�s sha11 for a��purpos�s be d�emed�o be a covenan�and agreem�n�
<br /> con�ain�d in�his Security �nstrumen�, as the phrase "�o�enan�and agreemen�" �s used in 5ection 9. If
<br /> Borr�wer is�b�igated�o pay Escrow ��em�directly, pursuan�to a vvai�er, and Borrower fai�s �o pay the
<br /> anZount due for an Escrow Ite7m, Lender xnay e�erc�se i�s rights under Sect��n 9 and pay su�h amount and
<br /> Borrower sha��then be ob�igate�i under Sec�ion 9�o repa� to Lend�r an� such amount. Lender ma}� r��oke
<br /> the�vaiver as �o any or a�� Escrow ��ems at any �ime by a not�ce�i�ren�n accordance v�r�th Se�t�on �S and,
<br /> upon such revocation, Borrovver sha�I pay to Lender a�� Funds, and �n such amaun�s, tha�are�hen requ�red
<br /> under th�s Section 3.
<br /> L�nder may, at any�ime, coliect and hoid Funds in an amount (a} sufficien�ta perm�.�Lender�a appl��he
<br /> Funds at the time spe�if�ed under R�SPA, and �b}nat ta exc�ed the maximum amoun� a lender can require
<br /> under RESPA. Lender shall �stima�e the am.ount of Funds due on the�asis of curren�data and reas�nah�e
<br /> estima�es of e�.penditures o#`future Escrow �tems or o�herwise in acco�rdance v�ith Applica�Ie Law.
<br /> The Funds shall be held in an�nst�tut�on wh�se depasi�s ar� insured�y a f�d�ra� ag�n�y, instrumenta��ty, ar
<br /> �nt��y ��nc�uding Lend�r, if Lender is an inst��ution v�hose�ieposi�s are so insur�d} or in any Federa� �3ome
<br /> Loan Bank. L,�nd�r sha11 apply the Funds �o pa�the�scrow Items na la�er than the time spec�fied under
<br /> RESPA. L.ender�ha�l n�t charge Borrower far holding and app�}�ing�he Funds, annual�y analyzing the
<br /> e�crow account, �r�er�fying the Escrow �tem�, unl�s�Lender pa�s Barrawer interest on th�Funds and
<br /> App�icable Lav�permi�s Lender t�make such a charge. Unless an agreement�s made�n writing or
<br /> Applicable Law requires �n�erest to be paid�n�he Funds, Lender shall not be requ�red to pa� Borrovwer any
<br /> in�erest ar earnings on t�e Funds. Borrov�rer and Lende�can agree �n writing, however, �hat in�erest sha��be
<br /> pa�d nn the Funds. L.ender shal�gi�e�o Borrawer, with�u�charge, an annual accounting of�h�Funds as
<br /> required by RESPA.
<br /> �f�h�r� �s a surplus of Funds held in escrow, as defined under RESPA, L.ender shall account to Borrower for
<br /> the excess funds �n accordance with RESPA. �f�here is a shortage�f Funds heid �n escrow, as de�ned under
<br /> RESPA, Lender sha�� notify Borro�er as required by R�SP,A., and Borrawer sha��pa�r to Lender the am�unt
<br /> necessar�t�make up the shortage in accordance vv�th RESPA s bu� �n nn more than ��rnonth��r payments. �f
<br /> th�re is a def�ciency of Funds held in es�raw, as defined under RESPA, Lender sha�1 n�tify Barra�er as
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<br /> Walters�Cluwer Financial Services Page 5 vf 17
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