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��15��531
<br /> Any applicat�on of paymen�s, insurance proceeds, or Miscellane�us Proceeds to princ�pal du�under�h� No�e
<br /> shall no�extend or postpone th�due date, or change�he amoun�, of�he Period�c Paymen�s.
<br /> 3. Funds for Escrovv Items. Borrower s�.a�l pay to Lender on the day Per�od�c Paym�n�s are due under the
<br /> No�e, until the No�e�s paid in ful1, a sum�the "Func�s"}to pro�ide f�r payment of am�un�s due for: �a}taxes
<br /> and assessments and fl�her items wh�ch can a��ain pr�or��y over th�s Securi�y�nstrument as a�ien�r
<br /> encumbra.nc�an the Proper�y; �b} leaseho�d payments or ground rents�n the Proper�y, xf any s �c}premiums
<br /> f�r any ar�d a�1 �nsurance required by Lender under Sect�on S; and�d} Mor�gage Insuranc�premuiums, �f an�,
<br /> or any sums payab�e b�r Borrav�er�o Lender in�ieu of the payment�f Mor�gage Insurance prem.iums xn
<br /> accordance v�ith�he p��v�s�ons of��ct�on �.0. Th�se i�ems are called "Escrow ��ems." A�or�g�nation or at
<br /> any��m.e dur�ng�he term of�he Loan, Lender ma� require tha��ommunity Assaciation Dues, Fees, and
<br /> Assessm�n�s, �f ar��, be es�rowed b�Borrov�er, an�such dues, fees and assessments s�all be an Escrow
<br /> Item. �orrower sha11�romp���r furn�sh to Lender a��notices af amoun�s ta��e paid under�h�s Section,
<br /> Borr�v�er sha��pay�et�der the Funds for Escrow �tems un�ess Lender wai��s�orrower's obl�gat�on ta pa�
<br /> �he Funds for an�or a�� Escrow �tems. I.ender may wa�ve Barrower's ob��g��i�n to pay to Lend�r�unds ft��
<br /> any�r a�� Escraw I�em� at ar��time. Any such wai�er may only�e in wr����. In�he e�e��of�uch wa��r�er,
<br /> Barr�wer sha11 pay directly, v�hen and vvhere payab��, the amounts due f�ar�n.y Escrow ��ems for wh�ch
<br /> payment�f Funds has been wai�ed by Lender and, if I.�;nder requ�r�s, s�a�1�urn�sh to Lender rece�p�s
<br /> evidencing su�h payment with�n such time period as Lender may requ�re. �arrow�r's obligatxon�o make
<br /> such paymen�s and to pr�vide rec�ipts sha��for alI purpases be deemed�o�e a�avenant and agreem�nt
<br /> conta�ned �n this Secur�ty �nstrument, as�he phrase "�o�enant and agreem�nt" is us���n Sec�ion 9. �f
<br /> Borrower is ob�igated�o pa�r Escr��r Items direct�y, pursuant ta a wax�er, and B�rrower fa��s to pay�.he
<br /> amount due for an Es�ro�v Item, I.�nder may exercise its rights under Sec���n 9 and pay such amount and
<br /> B�rrower sha11 then�e��liga�ed under Sec�ion 9 to repa��o Lender any s�h amoun�. L�nder may re�oke
<br /> the wa�ver as ta any or a�� �scro�r I�ems a�an�r t�me�y a not�ce g��ven in ac�ordanc�w���.Section 15 and,
<br /> upon su�h re�ocation, Borrawer shal�pay�o Lender a11 Funds, and in such�mounts, �ha�are then required
<br /> un�.�r�his Se�tian 3.
<br /> Lend�r may, at an��ime, c���ect and ho�d Funds in an an�.�unt�a} sufficie�.��t�permi�Lender to apply�he
<br /> Funds at the t�me specified under R�SPA, and�b�not to ex�eed the max��amaunt a lender can require
<br /> under RESPA. Lender sha11 e�tima�e the amoun�tif Funds due an th�bas�s�f curren�data and reasonab�e
<br /> estimat�s of expendi�ures of future Es�raw �tems�r otherwise�n accordanr�v�i�h App��cab1�Law.
<br /> The Funds shal�be he�d �n an inst��uti�n whase deposits are�nsured b�a f�era� agenc�, �nstrumentali�y, or
<br /> en�ity �includ�ng L.�nder, �f Lender is an zns��tu�i�n whose depas�ts are s�insured}or in any Federal Home
<br /> Loan Bank. L,�nder sha�� app�y the Funds t�pay�he Es�ro� �tems no later�han the�ime specif�ed under
<br /> R�SPA. Lender shai� no�charge Borrower for hald�ng and apply�ng�he Funds, annuai�y analyzin��he
<br /> escrow accoun�, or ver�fying the Escrow ��ems, unless Lender pays Barro�cr�r inter�s�on th�Funds and
<br /> Applica��e Law�ern�ats L.�nder ta make such a charge. Un�ess an agreenr�e���s made in v�rriting or
<br /> Applicable La�r re�uires �n�eres�to be pa�d on the Funds, Lender sha�� not�b�required to pa�Borr��v�r an�r
<br /> in�erest or�arn�ngs on�h�Funds. B�rrower and Lender can agree in wr�ti��,�owever, tha��nterest sh����
<br /> paid on the�unc�s. �nder shall gi�e to B�rrow�r, w��hou�char�e, an ann���c�unt�ng of�h�Funds as
<br /> requ�red by��S PA.
<br /> If there is a surp�us of Funds he�d in es�row, as de�ned under RESPA, Lender sha�l acc�unt to Borro�ver for
<br /> the�xcess funds �n ac�ardance�v��h RESPA. �f�here is a shartage of Fund�held in escr�w, a�def�ned under
<br /> RESPA, Lender sha�1 na��f�r B�rrawer as requ�red by RESPA, and Borrower sha11 pay to L�nder the arn.oun�
<br /> necessary�o make up the shartage�n a�cardance v�rxth RE�PA, but in na rnare than 12 mon�hly paymen�s. �f
<br /> �here is a d�ficiency af Funds h��d�n escrow, as def�ned und�r RESPA, Lend�r sha11 no�ify Borrflwer as
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<br /> Wotters Klt�wer�inanc�al Ser�ices 9
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