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<br /> 3. Fund� for E�craw It��n�. Barrower shall pay ta Lender �n the day Periodic Payments are
<br /> due under the Note, until the Note is pa�d in full, a sum ��he "Funds"} t� provide for p�yment of amounts
<br /> due for; �a} taxes and assessments and other i�ems which can at#ain priority aver this Securi�y
<br /> I nstru ment as a I�en or encu m b�ance on �he Property; �b} leasehold �ayments or grou nd rents on th�
<br /> Pr�perty, if any; €c} premiums �or any and all insurance required by �ender und�r Sec�ivn 5; and �d}
<br /> Mortgage Insuranc� premiums, �f any, or any sums payable �y Borrower to Lender in lieu of the
<br /> payment vf Nlortgage Insurance premiums �n accordanc� wi�h fh� pr�visions of Sect'r�n 1 D. These
<br /> items are cailed "Escrow It�ms." At �riginativn or a� any time du�ing the t�rm of�he Loan, Lender may
<br /> requ�re that Community Association Dues, Fees, and Assessments, if any, be escrawed by �3orrower,
<br /> and such dues, fees and assessments shail be an Escrow Item. Borrower sha�� prom�tly furnish to
<br /> Len�er all notices vf amounts ta be �aid under this Section. Borrower sha�l pay Lender �he �unds fo�
<br /> Escrow Items unless Lender wa��es B�rrow�r's ob�igation to pay the Funds f�r any or all Escr�w Items.
<br /> Len�er �ay waive Borrower's o�ligation to pay �o Lender Funds f�r any or all Escraw �tems at any time,
<br /> Any such waiver may anly be in writing. ln the event of such waiver, 6arrower shall pay directly, when
<br /> and where payable, the amaunts due for any Escrow l�ems for which payment of Funds has been
<br /> wai�ed by Len�er and, if Lender requir�s, shail furnish to Lender receipts evidencing such payment
<br /> wi�hin su�h t�me per�ad as �ender may require. Borrower's abligation t� mak� such payments and to
<br /> provide receipts sha[I for all purposes be deemed to �e a cvvenant and agreem�nt contained in this
<br /> SeGurity Instrument, as �he �hras� "c�venant and agreement" i5 used in Sec�ion 9. If Barrower is
<br /> obfiga�ed to pay �scrow Items direc��y, pursuant t� a waiver, and Borr�wer fails to pay �he amount du�
<br /> for an Escrow ltem, Lend�r may exercise its rights under Sec�ian 9 and pay su�h am�unt an� Borrower
<br /> shal� then be ��ligated under Section 9 t� repay to Lende� any such amount. Lender may r�voke the
<br /> waiver as �o any �r ali Escrow �tems at any �ime by a notice given in accordance with Sec�ion 15 and,
<br /> upon su�h revocation, Borrawer shali pay ta Lender all Funds, and in such amounts, that are then
<br /> r�quired un�er this Section 3.
<br /> Lender may, at any time, callect and hold Funds in an amount �a} sufficient #o permi� Lender t❑
<br /> app�y the Funds at the �ime specified under R�SPA, and �b} not to exceed the maximum amount a
<br /> I�nder can r�quire under RESPA. Lender shall estimafe �he amount af Funds due an the �asis of
<br /> current dafa and reasonabl� estimates of expendi�ures of future Escraw I�ems ar v�herwise in
<br /> accordance wi�f�App�icable Law,
<br /> The Funds shal� be held in an insti�u�ian whose depasits are insur�d by a federal ag�ncy,
<br /> instrumentality, ar en�ity �including Lender3 if Lender is an institution whose deposits are so insured} or �
<br /> in any Federal Hame Laan Bank, Lender shall app�y the Funds to pay �he Escraw Items no later than
<br /> the time specified under RESPA. Lender sha(I n�t char�e Borrvwer f�r holding and applying the Funds,
<br /> annually analyz�ng the escrow account, or verifying the Escrnw Items, unless Lender pays Borrower
<br /> interes�on the Funds and Applica�le Law permits Lender ta make such a charge. Uniess an agreemer�f
<br /> is made in writing �r A�plicabfe Law r��quires interest #a �e paid on the Funds, Lend�r shall not be
<br /> required to pay Borrawer any inter�st ar earnings �n the �unds, Borr�wer and Lender can agree in
<br /> writing, h�wever, �hat interest shafl �e paid on the Funds. Lender shalf give �o Borrower, without
<br /> charge, an annual accounting af�he Furids as requ�red by RESPA,
<br /> �f there is a surplus af Funds he�d in es�r�w, as defined under RESPA, Lend�r shall account �o
<br /> Borrower for the excess funds �n accordance �ith RESPA. lf ther� is a shor�age of Funds held in
<br /> escraw, as defined under RES�'A, Lend�r shal� nof�fy Borrower as required �y R�SFA, and Borrower
<br /> shalf pay to Lender �he amount necessary �n mak� up the shortage in accordance with RES}'A, �ut in
<br /> no more than 1� monthly payments. If there is a deficiency of Funds neid in escrow, as defined unde�
<br /> RESPA, Lender shafl no�ify Bor�ower as required �y RESPA, and Borrovver shall pay to Lender the
<br /> amount necessary to make up �he deficiency in accordance wi�h RESPA, but in no mare than 'L�
<br /> manthly payments.
<br /> Upon paymen� in ful! of aCl sums secured by this Security lnstrument, Lender shall �rompfly re�und ta
<br /> Borrawer any Funds h�ld by Lender.
<br /> 4. G�arges; Liens. Borrower shall pay all �axes, assessmen�s, charges, fines, and impasit�ons
<br /> a�tr�butable �o the Property which can a�ta�n pr�or�ty over �hfs Security lnstrument, [easehald payment�
<br /> or graund ren�s an the Proper�y, if any, and Community Associatian Dues, Fees, and Assessm�nts, if
<br /> any. Ta�he exten�that�hese items are Escrow �tems, B�rrower shall pay them in th� manner pro��d�d
<br /> �n Secti�n 3,
<br /> Barrower shal� promp�ly discharge any �ien which has prinrity over this Secur�ty Instrument unless
<br /> Borrower: �a} agrees in w�iting to the payment of the obligati�n secured by the lien in a manner
<br /> acce��able to Lender, bu� onfy s� long as Borr�wer �s p�rForming such ag�eement; �b} can�es�s fhe l�en
<br /> in good faith �y, or defends against enforcement af the �ien in, legal proc�edings which in Lender's
<br /> opinion opera�e ta pre�ent �h� enforcemenf of the lien while th�se pr�ce�dings are pending, �ut aniy
<br /> un�il such prviceedings are concluded; ❑r �c} secures fram the holder of �he �i�n an agreement
<br /> satisfa�t�ry to Lender subvrdinating the lien f� this Security Ins�rument, If L�nde� determines that any
<br /> tpa�e�af 1 z}
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