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��15���51 <br /> Any appl�ca�'ia��f�ay�ne�a�s, insurarice proceeds, �r Misce�laneous Proe�ec�s�o principaZ c�ue under the N�1:� <br /> sha�l no�ex�e�d a�pos�,�one�he c�ue da�e, or c�1a11ge t��e ainoun�, of�he Periodic Paytner��s, <br /> 3. Tunds for�scrow I�e�ns. Bar����r slza��pay�o Le��.er on 1:he day Periadic Payrn�r��s are due u�.�.er�he <br /> Note, u��i��he No�e is pa�d in fu11, a su�n(��le "Fur��s"� tfl prav�de for paym�n�of a�nounts due�or: �a��axes <br /> ar�d assess�nen�s ax�d a��.er i�e�ns�vhiclz cax��.��ain�ri.o�ity nver��z�s Securi�y I�s��urnetlt as a 1ier�or <br /> e�zcu�-n�rance on the Pra���f:y; �b� �ea�e�.o�d pay�nen�s or g�ound.ren�s o�.��ie Proper�y, if any, �c��re�niu��ns <br /> far a�1y an�.a1� �nsura��ce required by Lender under Sectia�l5; a�d��.}1V�or�gage InsL�rance�reinfums, if any, <br /> ar any sutns payabl�by Bori ov�er�a Lent�er in Iieu of�he pa.ynzen�of Mo��gage I�asura�lce���e�n�utns�n <br /> a�corda�ce�vi�h�1ze pr�visions af Sec���n 1�. T�ese i�e�ns�re ca�Iec�"Esc�aw��efns." A�arig�na�ion o� a� <br /> �ny tiir�e�.uri�lg�he�er�n of�he Laan, Lender�ZZay�equire that�o�m�nu�a.i�y As�Qcia��atz Dues, Fees; ax�.�. <br /> A55�55111��1�5, xf any, be e�crovved by Borrowe�r, �.n�.suc�1 dues, fees anc�assessmen�s s�lall be a.r�Esc�a�r <br /> Ite�n. Bort owe�s�laT1 pra�np��y fur��sh to Leric�er a�Z riotices af amot�n�s �o be paid under�11is Sec�ion, <br /> Barrov�er s��all pay Leilder��ze F�nds lar Escrow I�e�ns u�lless Le�der�vaives Barrower's obliga�:ian�a pay <br /> �he Funds for ar�y or al1 Escx ow I�e�ns. Lender znay waive Borrovve�r'�o1�Xxga��o��a pay�a Lender Func�s fo1� <br /> �xa.y or a1�E�cro�Z�.e�ns�.�aizy���ne. Aiiy such v�ra�v�r�nay only be in vvr��ing. I��he evet�l;of suc11�waiVer, <br /> I3orrov�er s�i�.��pay�.irec�;ly, vvl�en and wllere�ay'�.�Ze, ��ie a��noun�s c�ue for a�.y Escrovv rf:el��s fa1�vsrh�ch <br /> pay�nen�oF ru���.s has Ueen waxv�c��y Lenc�er and, if Lender r�quires, sl�.a�� furnis�l�o�,enc�er receip�s <br /> evlder�c�r�g suc�z pay�ner���i1:lzin st�ch���r�e-�e�ioc�as Lender xna.y�equ.ire, Lorrower's abligai:ion�o�nalfe <br /> such payments a�c��o�rov�de�eceip�s s���.�1 fat•al��urposes be dee�lled to�e a caver�a�a.�a�c�agree�n�n�: <br /> co��ai�e�.i�a.�his Securi�y�n��ru��net1�, as�he phrase"covenan�a�zd a.greet11en1;" �s used���Sec��o�9. Yf <br /> Bor�awer is obligated�;o�ay Escrovv rte�ns dxrec�ly, pu�sua.�t to a waxver, anc�Borrowe�fails���ay��1� <br /> ainotxn�c�ue fa�r ar��sc�av�I�exn, Lenc�er�na�exe�czse��s r�ghts ut��.er Sec�i�n 9 and p�.y such a�nour��an�. <br /> Borro�er s���.11��1en be obliga�ed.under Se��ion 9 to repay to Lenc�er any st�ch a�nauil�, Le��der�nay�•ev�lce <br /> ��ie�aive�as�o a�y or a1I�scrov�Iteins �.�ar�y�i�ne by a no�ice give�in a�co�c�a������h Sec���z� 15 a�d, <br /> up�n such.revaca�ion, Borrovver sha��pay�a Lender al�Fu��.ds, and Tn suc�1 atnaunts, �h.a�are t�1en required <br /> unc�er�1z�s S e�tion 3, <br /> Ler�c�er�n.ay, at ar�y ti�ne� co�lect an�.ho�d Fu�d�in an�ma�.�.��a� st�fficient�a�er�ni�r.,ender to a�ply tl�e <br /> runds a�;��ze�i�ne specifiec�.ur�c�er R�SPA, az�d���no�to ex�eec����e maxiinu�n a�noun�a�etlder ca�require <br /> u�ac�er R�SPA. Letzc�er shal�es�i���.te��ze atnount of Fun�s�.�.xe az���e b�sis of��.�.rren��.a�a anc��easonal��e <br /> es�i�nates of exper�dituf•es af fu�L��e�sct�ow I�e�ns or al;herwise�n 1cc�rda.nce u�i��z A�p�icable Law. <br /> The Fu�c�s sh�.11�be helc�ir�a��zr�s�itut�on whose deposi�s are it��t�red by a led��'al age�zcy, i�struznent�.lity, or <br /> en�x�y�inclu�.�ng Lende�, if Le�zc�e�is an i�.s�xtu��on w�ose c�epflsz�s a��e so insured} or�n az�y Federal Ho�ne <br /> Loa�Ba.t11c, Ler�der s�1a11 ��p�y��e Funds�o�ay�he Escr�vv I�e�ns no�a�er�:h�tz�he 1:i�ne speci�ied unc�e� <br /> R.ESPA.. Le��c�er s�za11�z��charge Bor�rov��� fo�haldi��g an�.a�p�ying�;1ze Fu�a.�.�, antlual�y a.nalyzing�he <br /> esc�aw accou�.�, or ver�fying i.1ie Lscr�v��te�ns, u�le�s Le�1c��r pays Borrav�rer�n�eres�o��t�ze Fuz�.c�s and <br /> Ap�li�ai�le La�?v�er�xa.j:l:s Le�ader�a�nalfe suc�i a ch�rge. U�.ess an agreelne�a.����n�.de in v��i�i�g or <br /> Ap�licable Law reqtixires �nteresl;�o be p�.id on the runc�s, Lende�s��a11 r�a�be reqL�i�•ec�i.o pay]3orrav�er�ny <br /> znteres�or ea��nings �n��ze I'u�lds. Lflrrower a.nc�L�nde��a��.ag��ee���wri�ing, however, �h�.t i��eres�s�a�al�l�e <br /> pa�c�on t1�e Funds. Letlder shal�.give ta Borrovve�, wif:lz�u�cha�g�, an ar�lual accau���ing ar t�le Fu�lds as <br /> requ�re�t�y RESPA. <br /> Il there xs a sL�rp�t�s of Fu�c�s hel�in e�ct�ow, as �efi�lec�utldet�RESPA, �ende�shall accou��to Bor�rower for <br /> t�ze excess fiinds i�.a�co��c�a��ce w��11 RESPA.. �f��zere�s a sl�a���age of Fur�ds l�elc�it�.escra�u, as c�e�r���.u��der <br /> RESP�1, L�t�der��1�.�1 nol;ify Borrovver as requ�red by RESPA, aild Barrov�e��s�za��pay�a Let�c�e���he a�nou�� <br /> �.ecessary��znalce up�:�ze sha��age i�i acc�rda�ce wi��l I�SP.�., bu�in�zo ino�re�11�n �2�nai���.ly�ay���etl�s. Tf <br /> �he�,e is a c�e:�c�ency oF�`u�zd511e��.i�a.escrov�, as de�i�ae�.u�dez•R�SPA, Le�lc�e�:s���:1I notify Borr��v�r as <br /> ��Qo�rr�� <br /> N�BI�ASICA-SIngl�Family-�anni�M ael�re�die M ac L1NIFaRM IN5TRLIM�NT Farm 3428 �1�� <br /> 11M P�} VM P6{N�}��3Q�} <br /> W ofters Kluw er Financial Sarvices Page 5 0��7 <br />