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<br /> Any applica�ion of paymen�s, insurance proceeds, or Miscellaneous Procee�s��principai due ur�der the No�e
<br /> shall no�extend or pos�pone the due date, or chan�e the amoun�, of the P�riodic Paymen�s.
<br /> 3. Funds for Escrow I��ms. B�rr�vWer shall pay to Lend�r on the day Periodic Paymen�s are due under�he
<br /> Na�e, un��� the No�e is pa�d in full, a sum�the "Funds"}to pr��ide fflr pa�ment nf amounts du�for: �a}�axes
<br /> and assessm�.ents and o�her i�ems v�rhich can attain priority over this Securit� �nstrument as a��en or
<br /> en�umbrance on the Proper�y; �b} leaseh��d pa�ments�r ground ren�s an th�Prop�r�y, if any; �c}premiums
<br /> for any and all �nsurance required by Lender under Section S; and �d} M�r�gage�nsurance premiums, if an�,
<br /> ar any sums payable b� Bnrrower to L.�nder�n li�u of the paynlent of Mortgage Insuranee premuiums �n
<br /> acc�rdance�i�h th�prov�si�ns of Sect�on 10. These items are cal�ed "Escrov� Items." At orig��na�i�n or at
<br /> an�r�ime dur�ng�he�erm of�he Laan, L,end�r may require that Commun��y Asso�ia��an Dues, Fees, a.nd
<br /> Assessments, if an�, be escrov�ed by Borrower, and such dues, fees and assessmen�s shal�be an EScrow
<br /> I�em. B�rr�wer shal�pr�mptly furnish�o Lender al� no�ices�f am�un�s t�be paid under this Sec�ian.
<br /> Borrower shal�pay Lender the Funds for Escrow �tems un�ess Lend�r vvai�es Borr�v�er's obli�a�ion to pay
<br /> �he Funds far an�or aIi �scrow ��ems. Lend�r may v�aive Borrower's tib�i�a�ion tn pa��n Lender Funds for
<br /> any or aI1 Es�row ��ems a�any�ime. Any such wa�ver ma� only be in wri��ng. �n the eWent of such wai�er,
<br /> Borrower shal�p�y direct��, when and where payable, �he a�mounts due for an� Escr�w I�ems far wh�ch
<br /> payment of Funds has been waived by Lender and, if Lender requ�res, sha11 furnish t� I�:nder receipts
<br /> e�idenci�g su��.pa�r�men�with�n such�ime period as L.�n�er ma�require. Borrower's obligation to make
<br /> su�h payments and�o provid�rec�ip�s sha�� far ali pur�aoses b�d�emed t�he a co�enan�and a�reement
<br /> contained in�his Securit}� �nstrumen�, as the phrase "�o�enant and agreement" 15 LiS�d 1�I 5���1�I��. �f
<br /> Borrower�s oh�igat�d to pay Escrov� �tems�irectly, pursuant�o a vvai�rer, and�arrower fai�s to pay�he
<br /> an�.ount due for an�s�row ��em, L�nder may exercise i�s righ�s under Sec��on 9 and pay such amount and
<br /> Borr�vver sha�l �hen b�obligated under Sec��on 9 to re�ay to Len�ier any such amtiun�. Lender ma�re�oke
<br /> the wa��er as to any or a1i Escrow it�ms at any ti�m.e by a notice gi�en�n accardanc�with Secti�n �5 and,
<br /> upon such re�ocat�on, Borrower sha��pay to Lender a�l Funds, and �n su�h amoun�s, tha�are�hen reqrxired
<br /> under th�s Sect�on 3.
<br /> Lender may, at any t�m�, collect and hold Funds �n an amoun��a} suf�cien��o perm�t Lender ta apply�he
<br /> Funds at the tim�sp�cified und�r RE�PA, and �b}not to exceed the maximum amoun�a lender�an r�qu�re
<br /> under RESPA. Lender shall estima�e the amoun�of Funds due an the�asis of current data and reas�nab�e
<br /> esf�ma�es of expend��ur�s of fix�ure�scrow I�ems or otherwise�n ace�rdance w��h Applica�i�Law,
<br /> The Funds shall be held �n an�ns�itut�fln whose depos�ts are�nsured by a federa� agen��, �ns�rumen�ali�y, ar
<br /> entity �includin� Lender, �f L�nder�s an ins�i�ution whose deposits are so insured}or in an�r �edera� Hom.e
<br /> Loan�ank. I..ender shali apply�he Funds tfl pay�he Escrow ��ems na�a�er than the tim�speci�ed unde�r
<br /> RESPA. Lender sha�l no�charg�Borr�wer fflr h�iding and applying�he Funds, annua��y ana�yz�ng�he
<br /> escrow accoun�, �r verif�in�the Escrnw ��ems, unless L.ender pa�s Borrower interes�fln�he Funds and
<br /> App��cable Law permi�s Lender�o make suc�a charge. Unless an agreement is mad�in vvriting ar
<br /> Appiica��e Law requ�res �n�erest to be pa�d on�he Funds, Lfender shall n��be required�o pay Borrawer any
<br /> in�erest or earnings an�he Funds. Borrovver and Lender can agree in wri�ing, however, that xn�eres�shall�e
<br /> paid�n�he Funds. Lender shall g��e�a Borra�rer, wi�hout c�.arge, an annual account�ng of the Funds as
<br /> r�qu�red b� RESPA.
<br /> �f there is a surplus of Funds held�n escrav�, a�defined under RESPA, Lender sha11 account to Borro�v�r f�r
<br /> the excess funds in accordance v�ri�h RESPA. �f�here�s a s�ortage of Funds held�n escrow, as def�ned under
<br /> RESPA, Lender shall na��fy B�rrower as requ�red by RESPA, and Borrov�er shall pa��n Lender the amoun�
<br /> nece�sary to rnake up�he shor�age in accordance with RE�PA, bu� in na mare than 1�month�y paymen�s. If
<br /> ther�is a def�cienc�of Funds he�d �n escrovv, as define� under RESPA, Lender sha��no�ify Borrower as
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<br /> VMP Q VMP6(NE�{734�f
<br /> Wralters Kfuwer Firtar�Cial 5er�ices Page 5 0#17
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