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<br /> Any app��cat��n af paymen�s, insurance proceeds, or Miscellaneaus Praceeds to principal du�under the No�e
<br /> sha�� not extend or postpone�he du�da��, or change the amoun�, of the P�riod�c Paymen��.
<br /> 3. Funds for�scrow Items. Borrovver sha��pay�o Lender on the day Periodic Pa�ments ar�due under�he
<br /> Note, unt�l �he Note is paid�n fix11, a sum��the "Funds"} ��pr�v�de for paym.en�of amounts due for: �a} taxes
<br /> and assessmen�s and ather itenls wh�ch can attain priority n�er this Secur�ty �ns�run�ent as a lien or
<br /> encumbran�e on the Proper�y; �b} leasehold payments ar ground rents an the Praperty, �f any; ��}prem�ums
<br /> f�r any and a�l �nsurance required by Lender under Sec��on 5; and �d} Mor�ga�e �nsurance premiums, if any,
<br /> or any sums payable b� Borrower�o L,ender�n Ii�u of the payment af Mor�gage�nsurance premiums in
<br /> a�cordance wi�h�he prov�s�ons flf Sect�on 10. These �tems ar��a��ed "Escr��r ��ems." At vriginat�on ar at
<br /> any time dur�ng�he�erm of�he Loar�, Lender rnay require that�om�mun�ty Assoc�a���n Dues, Fe�s, and
<br /> Assessments, �f an}�, �e�scrowed by B�rrawer, and such due�, fe�s and a�s�ssments shali�e an Escrov�r
<br /> ��em. Borrov�er shal�pr�mpt�y furnish�o L.ender al� natices of amaunts��be paid under this Sect�on.
<br /> Borrower shall pay L.ender�he Funds for Escrow Items unless L.ender wax�es Borraw�r's ob�igatifln to pa�
<br /> the Funds f�r any ar a11 Escro�r �tems. Lender may wa��e Borrower's ob�igat�an�o pay��L.end�r Funds f�r
<br /> any�r a11 Escrovv I�ems at any t�m�. Any su�h v�rai�er may only be in wri�ing. �n�he e�ent of such wai�er,
<br /> Borrower sha��pay direc�ly, wh�n and where payahle, �he amoun�s due for any Es�row ��em�.s for wh�ch
<br /> payment of Funds has�een wa�v�d b�Lend�r and, if Lender requires, sha11 furn�sh to Lender receipts
<br /> ev�d�ncing such payment wi�h�n such�ime period as Lender nlay require. Borrovver's obligation�o make
<br /> such paymen�s and to pra�ide recezpts shail f�r ail pUrpases be d�eme�to be a�o�enant and agre�men�
<br /> con�ained�n�h�s Security Ins�rument, as the phrase "covenan�and agreemen�" is us�d�n Section 9. �f
<br /> Borrovver is ahliga�ed�o pay Escr�v�a Items d�re�t�y, pursuant to a wa��er, and B�rrower fai�s�o pay�he
<br /> amount due for an�scrow �tem., Lender ma�exercise its rig�ts under Section 9 and pa� such amount and
<br /> Borrov�er shall�hen be o�liga�ed under Se��ion 9 ta repay �a Lender any such a�moun�. Lender may re�ok�
<br /> �h�wa�ver as�o any or a�l Escrov� ��em�s at an���me b� a nati�e g�ven�n accordance vsri�h Se�tion �5 and,
<br /> upan such revacat�on, Borrower shall pay�o Lender al� Funds, and in such amoun�s, tha�are�hen required
<br /> under�his Sec�ion 3.
<br /> Lender may, a�any time, callec� and�o�d Funds in an amount�a} suffic�en�to perrn���Lender�o appl�r the
<br /> Funds at�he�ime specif�ed under RESPA, ar�d �b}no� to exceed the max�mum amount a�ender can require
<br /> under RESPA. Lender sha1�es�imate the amoun�of�unds due on the basis of curren�da�a axad reasonable
<br /> estima�es of�xpend�tures of fu�ur�Escrov� I�ems or atherwise in accordanc�w��h Applicabie Law.
<br /> The Funds shall�e he�d in an ins�ituti�n whose�eposi�s ar��nsured b� a federa� agency, �nstrum�n�ali�y, ar
<br /> �n�it�r ��nc�uding Lender, �f L.�nder�s an�ns�itut�an vWhose depos�ts are so insured}or in any Federal Home
<br /> Loan Bank. Lender shai� appiy the Funds�o pay the Escrov�►1 Items no later than the time�pe�ifiet�under
<br /> RESPA. Lender sha�I no�charge Borrower for holding and applying�he Funds, annuaily anal�zing the
<br /> escrow accoun�, or�erifying�he�s�row I�ems, un�ess Lender pa}�s Barrov��r�n��rest on�he FUnds and
<br /> Appl�cable Law perm�.ts Lender to make su�h a charge. Unle�s an agreement is made�n writing or
<br /> Appl�cable Lavv requir�s �nteres�t�be paid on th�Funds, L.ender�ha�� nat be requ�red�o pay Borrower any
<br /> interes�or earnings on the Funds. Borrov�er ar�d L,�nder can agree in vvri�ing, however, �hat interest shal�be
<br /> pa�d on the Funds. Lender shail gi�e to Barr�v�er, v���hou�charge, an annual accoun�ing vf�he Funds as
<br /> r�quired by RESPA.
<br /> �f there�s a surplus of Funds he�d �n escr�w, as defined under RESPA, Lender sha1� account�� Borrower for
<br /> �he excess iunds in accardanGe w�th R�SPA. If there is a shor�ag�of Funds�e�d �n escrov�, as def�n�d under
<br /> RESPA, L,�nder sha�I notif�Borrower as requ�red by RESPA, and Borrov�er shall pay�� i.ender the amount
<br /> n��essary to make up th�shor�ag�in a�cordance wi�h RESPA, but in no more than 1�m.on�h�y pa�rments. If
<br /> �here is a de��iency of Funds held in escrou�, as de�ned under RESPA, L.�nder sha�l na�ify Borrov�rer as
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<br /> Woiters Kluw�r Finar�cia!5er�ices Page 5 of 17
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