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��15��549
<br /> Any applica�on�f payments, insura�a.ce praceeds, or Mzscellaneous Proceeds to pr��.cipal due under�he Note
<br /> shall nat extend ar�ostpane the due d.a.t�, �r cha.n_ge�.he amount, of�he Pe�iodi.c Paym.�ts.
<br /> 3. Fu�ds for Es�r�yv Iten�s. Borrovver shal.I pay t�Lender on�.ie day Periadic Paym�its are due under th�
<br /> Not�, unti��he Note is pazd�.x�fu��, a sum��he"Fur�ds"}ta provide far paym.ent of amou�ts due for: �a��axes
<br /> ar�d assessrn.ents and other z�ems which can at�ain pri.ority over this Secu.rity Instrument as a�.i.en ar
<br /> en.cux�brance on th.e Praperty; �b} �easehold payments or ground rents�n the Pr�perty, if any; �c}premium�
<br /> for any and all��s�rance requ�red by Lender under Sect�on 5; and[d�Mor�gage Insurar�ce premiums, if any,
<br /> or an.y sums payab�.e by Borrov�er ta Lender in.lieu af the paym�n:�of Mortgage In�urance pr�miiums in
<br /> accordax�.ce w�th the provi.sions af See��an ��_ These i�ems are cal�ed"Escrow I�ems.'� A�origix�.afion or�.�
<br /> any ti_me dux-�ng�.he�erm of the L�ax�, L�nder may require�hat�ommunity A�sociatio�Dues; F ees, a�d
<br /> A5S�55I71�IT�S, �f any, be escrowed by Borrower, and such dues, fees and assessments shall be�Escrow
<br /> Item. Lorrower shall�ar�mptly furnish tfl�.ea�der a11�otices af amour�ts ta�be paid�.d.er��is Section.
<br /> Borrower shall.pay Lenc�er the Funds for Escrow It�s ur�ess Lender wa�ves I3orrovw�r`s�bligatzo�to pa�
<br /> tlie Funds for any or all Escrow Iten�. Lender may waive Borr�wer's�bligatz�n to pay tQ Lende�-Funds far
<br /> ax�.y or a1I Escrovsr I�ems at any�.me. A��suc�wa�iver may on�y be 7.n wx-���r�g. In�he even.t of such waiver,
<br /> Borrower shall pay dire��ly, when and where payable, �he amounts due for any Escrov�r Items for which
<br /> payment�f Funds has be��waived by Ler�der and, �f Lender requ:�res, shall furn�sh�o Lender receipts
<br /> evidencing such payme�t wx.thin such time period as L�nder may require. Borrov�er's�b�igation to make
<br /> such payments and�o provxde receipts shall for a�.l.purposes be deemed�o be a e�vena�t axa.d agreement
<br /> conta�ned in�his S�curity Ir�strument, as t11e phrase"�ovenant and agreemerit" is used i-�Section 9. If
<br /> Borrowe��s ol�ligated�o�ay Es�ro�r Items d�rect�y, pursuant ta a wa�ver, ax�.d�3orrower fails to pay the
<br /> amount d:ue fvr an Escrow Ttem, Le�der may e��rcise its rig�.ts under Sec�ion 9 and pay such amour�.�and
<br /> Ba�rower s�.a11 t�en be obligated.under Sec�_on 9 to�ep�:y to Le�der any such a�o�t� ]Lender�nay revoke
<br /> the waiver as�o any or all Escrow Itexns a��,ny time by a nati.ce give��.r�accordanee with Sect�an�5 and,
<br /> upon such r�v�cation, Barrower shall pay�a Lender a�.�Funds, aza.d in such amaunts, th:at are�hen required
<br /> under this S�cti.Qn 3.
<br /> Lender ma�r, at ar��t7:me, co��ect and ho�ci Funds in an amau�t�a� sufficaient�o�ermit Lender ta apply the
<br /> Funds at the time specif�ed und�r RESPA, a�.d�b}not tQ exceed the maximum amount a�.ender can require
<br /> und.er R�_SPA. Ilender sha11�stimat��he amaur�t af Fuxxds due an�he basis of curr-ent data and rea:�anab�e
<br /> estima�es af���enditures of future Escrou�Items ar o�herv�r�se in accarc�.ance�th App��cab��Lav�r.
<br /> The Funds sh.al.1 be h��d in a�.i�xstitut�on v�r�ose deposits ar��surec�by a fed�ral agency, i��entality, �r
<br /> e�tity�includix�.g�Lender, if L�n.cier is an�n.stituti��whose c�e�pasits are�o�s�.r�d� or��y Fec�eral�Iome
<br /> L�aaz Bank. �.er�der s]hall apply the Fu�ds t��ay�he Escrow Items no lat�r�han the�i�ne specifxe�.u�der
<br /> RESPA. Lender sha1�not charge Borrawer for ho�ding�n.�.app�ying-th.e Furids; annually ana:l.yzing the
<br /> escrow accoun�, or ver�.fy�ing the Escrow Item�s, un�ess L�rider pay5 Borrower ira.�erest nn.�.br.e F`unds and
<br /> AppT.xcable Law per�ts Lender ta mak�such a charg�. Un�ess an agreemen�is made in wr�ting ar
<br /> Appli.cab�e La�r requires i.x�.terest to be pax:d on the Fun.ds, Lender shal�nat be required to pay B�rrower ar�y
<br /> �nterest Qr earn�.r�gs on the Fund.s. Borrawer an.d Lender can agree�n wr����.g, haurever, that�n�erest sh�:11 be
<br /> �pai.d on th�Funds. �Lender sha11 give ta Barr�wer, �thout charge; ar�.annual a�caux�ting of�he Functs as
<br /> requi:red�by]L�ESPA.
<br /> If�h.ere zs a��rplus of�'�:n.ds held in escr�tiv, as�.e�ne��.der RESPA, Iaend.er s�all account�a I3Qr�ower for
<br /> the excess funds�.xa.accardance wit�RESP�.. �f�ere is a shortage of Fumc�..s he�:d.�n escrow, as def�ned�der
<br /> RESPA, Lenc�er sha�l not�fy Barrower as�equired�by RESPA, anc�Bflrrower sha�1 pay t��Lender�he axrxount
<br /> �ecessary to make up the shortage�x�:accQrdance with RESPA, but i-�x�o mare thar� 1�m�n�bly payments� If
<br /> there is a def ciency of Funds he�d in escrow, as defined ura.der RESPA; Lender�ha�.�.notify Borrower as
<br /> 24�Q777'�
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<br /> W�[t�rs Kf�awer Fnanc9a�Services Page 5 of�T
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