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<br /> An� app�ica�ion af paymen�s, insurance praceeds, or M�s����an�ous Proceeds to prin�ipal due under the Note
<br /> shal� n�t�xt�nd ar p�s�pane the due date, or change�he amount, �f�he Per�od�c Paym�nts.
<br /> 3. �unds for Escrow Items. Borrower shall pa�ta Lender on the day Periad�c Payments a�r�due under the
<br /> Note, until �he Not� is pa�d�n fu�l, a sum(the "Funds"} ta provide for pa�men�of amounts due for: �a} �a�es
<br /> and as�essments and other�tems v�rhich can a�ta�n priority o�er th�s Securi�� �nstrum�n�as a�ien or
<br /> en�um.branee on the Praper�y; �b} leasehold payments or ground ren�s an�he Proper��, if any; �c}premiums
<br /> for an� and a�i insurance requ�red by Lend�r under Sect�an 5; ax�d�d} M�r�gag��nsurance premiums, xf�ny,
<br /> �r any sums paya��e b� Barr��er�o Lend�r in l�eu of�h�paymen�of Mor�gage Insurance premiums in
<br /> a�cordance v��th�he prav�si�ns�f Sect�on 1D. These i�ems ar�cal�e�i "Es�row�t�ms." At or�g�na�.ion or a�
<br /> any t�me during�he�erm of�he Laan, Lender ma�require tha�Community Assaciatior�Dues, Fees, and
<br /> Assessmen�s, if any, be�scrovved by Borrovver, and such dues, f�es and asse�smen�s shali�e an Escrow
<br /> �tem. Borr�vver sha��promptly furnish�o Lender a��not�ces of amounts�o be paid under this Secti�n.
<br /> Borravver shatl pay Lender�he Funds far�s�raw Items un�ess Lender wa���s B�rrov�rer's obl�gation to pa�
<br /> the Funds for any or a�� Escrov� �ten�s. L�nder may wai�e�arrower's abligation t�pa}��o L�nder Funds for
<br /> an�or all �scrovW �tems a�an�r��me. Any such v�a��er may only b� in writing. �n the e��nt af such wa�ver,
<br /> Borrower shall pay direct��, v�hen and where pa�able, ��e amoun�s due for any Escrov�r �tems for which
<br /> payment of Funds has been wai�ed by Lender and, if Lender r�quires, sha1� furnish to Lender re�e�pts
<br /> e�idenc�ng such payment v�r�thxn such t�rne per�od as Lender may require. Borrov�r�r's obliga�ion to make
<br /> such payments and to pr�vide rece�pts shai� for a��purposes be d�emed to be a�o��nant and agreemen�
<br /> contained in thxs�ecur�ty Ins�rument, as the phrase "covenant and agreement" is used�n Sect�an 9. �f
<br /> Borr�wer is obligated�o pa� Escrow ��ems directly, pursuan�to a wai�rer, and�orrow�r fa�ls�o pay the
<br /> amoun��ue for an Escr�w �tem, Lender may�xercise i�s r�ghts under Section 9 and pay such amount and
<br /> Borrower shall then be�b�iga�ed und�r Sec�ion 9�o r�pay to L�nd�r any su�h am,ount. Lender may revol�e
<br /> �he waiver as�� an�or ai� Escrow �tems a�any time by a not�ce gi�ren�n accardance w�th Sec�ion I5 ar�d,
<br /> upon such revocation, B�rrower shal�pay to L�nder a�l Funds, �I]C� ��Sl1C�l�lOt�I1�Sy �hat are then r�quired
<br /> under this Sec�ion 3.
<br /> Lender may, a�any tinn�e, co��ect and hold Funds �n an amaunt�a} sufficient to permit Lender�o apply the
<br /> Funds a��he time spe�ified under RESPA, and �b}n�t �o exceed�h�max�mum amount a lender can requir�
<br /> under RESPA. Lender shal�es�ima�e�he am�unt of�und�due fln�he�as�s of curr�nt data and reasonab��
<br /> est�mates of e�pendi�ures of fu�ure Escrow �tems or�thervvise in accordance with Appl�cab�e Lav�.
<br /> The Funds sha��be held in an�ns�i�ution whose dep�si�s are insured by a federa� agenc}�, instrumenta���y, or
<br /> en�ity �including Lender, �f L.ender is an ins�i�utian vvhose depos��s are so insured}or in any Federa� �flme
<br /> Loan Bank. Lfender sha�l apply the Funds to pay the�scraw �tem�no �at�r than�he�ime specified under
<br /> RESPA. Lender shall no�charge Borr�wer for ho�ding and app�ying�h�Funds, annually ana�yz�ng the
<br /> eseraw account, or verifying�he Escro�v I�e�rns, unless L�nder pays Borrower in�erest on�he Funds and
<br /> App�icable Law p�rmits L�nder to m.ake su�h a charge, Unless an agreemen� is made�n wri�ing or
<br /> App��ca�le Law requ�res �nteres�to be paid on�he Funds, L.�nder shall not be required�o pay Borrower any
<br /> in��rest or eamings on the Funds. Borrower and Lender�an agree in writing, hovvever, �hat�nterest shall be
<br /> paid on�he Funds. Lender shall gi�e ta Borrower, wi�haut charge, an annual accflunting of th�Funds as
<br /> required�y RESPA.
<br /> �f there �s a surp�us af Funds h�id in e�cr�w, as d��ned under RESPA, L�nder shail accoun�to Borrov��r for
<br /> the excess funds in accordance wi�h RESPA. �f�here�s a�hor�age of Funds held in es�row, as de�ned under
<br /> RESPA, L�nder shall notify Borrawer as requir�d b� RESPA, and Borrower shall pay to Lender�he an�.ount
<br /> necessar� �o mak�up�he shartage in ac�ordanGe vvith R�SPA, bu�in no more�han ��month�y payrnents. �f
<br /> there is a def�c�enc�of Funds he�d in esc�row, as de�n�d under RESPA, I.ender shail notif�Borrov�er as
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<br /> Wvlters Kluw�r�ir�ancia!5er�ices Pag�5 a#17
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