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��15��174
<br /> Any app�ication�f paymen�s, �nsurance proc�eds, �r Miscel�aneous Proceeds�n principa� due under the Note
<br /> shall not�xtend or p�stp�ne the due da�e, or change�he a�mount, af the Pe�r�adi�Paymen�s.
<br /> 3. Funds for�scrow I�ems. Borr�wer sha11 pay�a L,ender on�he da�r P�riodic Pa�rmen�s are due under�he
<br /> N�te, unt�1 the No��xs pa�d xn ful�, a sum�the "Funds"} �o pr�v�de for pa�merzt of amoun�s du�for: �a� taxes
<br /> and ass�ss�rn.�nts and��her���ms wh�ch can at�a�n pr�ority�ver�his Security�nstrumen�as a lien or
<br /> encumbranGe on the Proper�y; �b}�easeh��d paymen�s�r graund ren�s on�he Propert�, if any; �G}prem�um�
<br /> f�r any and ali insuranc�required by Lender under Se�tian S; and�d} Mor�gag��nsurance premiums, if any,
<br /> or any sums payab�e by Barraw�r�a Lender in lieu�f�he paym�n�of Mor�gage Insurance pr�miums in
<br /> accardan�e with the p�rovisians of Sect�on 1D. These items are called "Escro�v Items." A��rig�na�ian or at
<br /> any t�me during the term of the Loan, Lender may requ�re�hat�ommun��y Assacia�.i�n Dues, Fees, and
<br /> Assessm�.en�s, if any, be escrowed by Borrower, and such due�, fees and assessmen�s sha��be an Escraw
<br /> ��em. Borrower s�a�l pramp��y furnish to i..�nder a11 n�tices of amounts to be paid under�h�s S�ct�on.
<br /> Borrower sha�l pay Lend�r�.he �unds for Es�rov� �tems unles� Lender wai��s Borrow�r's ob�iga��on�o pa�r
<br /> th�Funds for any or a�� �s�row �tem�s. Lender may waive Barrawer's�bl�gation�o pa��a Lender Funds f�r
<br /> an�or a11 Escrow Items at any�im�. Any suc�wai�er may on��be�n wr�t�ng. In�he event of su�h vva�ver,
<br /> B�rrawer sha11 pay d�rec�ly, when and where payab�e, �he amoun�s due for any Escrn�r ��ems for wh�ch
<br /> payxnen�of�unds has been waiv�d by Lender and, if Lender requ�r�s, s�a11 furnish�o Lend�r receipts
<br /> e�idencing such pa�ment w��h�n such time periad as Lender may r�qu�re. Barrower's�bligat��n ta make
<br /> such payments and�o pr�vide receip�s sha�l for all purposes be de�med�o b�a co�enan�and agreement
<br /> contaxned �n this Secur�t� Instrument, as�he phrase "cavenant a�.d agreemen�" �s us�d in Sect�on 9. �f
<br /> Borrovver�s�b1�ga�ed to pa� Escrovv Items d�r�ctiy, pursuant to a wa��er, and B�rrower fai�s ta pay the
<br /> amount due for an Escrov5r ��e�n, Lender may exer�ise its rights under Sect�on 9 and pa�such amoun� and
<br /> Borrow�r shali�hen�e ob�igated under Sectian 9�o repay t� Lender any such amoun�. Lender xnay revoke
<br /> the wax�rer as to ar�y�r a�i Escrow Items a�an�t�m�by a no�ice g��ven in acc�rdance wi��.Section I S and,
<br /> upon such revoca�ian, B�rrQ�ver shall pa��o Lender a11 Funds, and�n su�h amau��s, tha�ar��h�n required
<br /> under this Secti�n 3.
<br /> L.end�r may, at any�xme, C�11ec�and hold Funds in an amoun��a} sufficient to perm��L.ender�o ap��y�he
<br /> Funds at�he�im�e spec��ed under RESPA, and �b}na�to exceed��e maximum amaunt a��nder can require
<br /> under RESPA. Lender shal��s�imate�he amount of Funds due�n���bas�s of curren�data and reasona�le
<br /> est�mates of expendi�ur�s af future Escrov�r ��ems or otherwi�e�n ac�ordance v�ith Applica�le Law.
<br /> The Funds s�all�e he�d in an�nst�tu�ion whose depos��s are insur�d by a federa� agency, instrumenta�ity, or
<br /> �n�ity �includ�ng Lender, if Lend�r is an�ns�itu�ion whose deposits are sa �nsured� or�n any Federal Home
<br /> Loan Bank. Lender sha11 appl��he Funds tn pay�he Escr�w �tems no la�er than the time specif�ed under
<br /> R�SPA. Le�ader sha��not charge Barrower for ha�ding and app�y�ng the Funds, annually analyzing the
<br /> escrow accaunt, or verif�ring the Es�rov� �tems, un�e�s L�nder pa�rs Borrawer interes�on�he Funds and
<br /> Applicab�e Law p�rm�.�s Lender to make such a charge. Uniess an agreemen��s made in wri�.ir�g or
<br /> Applicable Law requires �n�er�st�o be pa�d on�he Funds, Lend�r shali no�b�requ�red to pa�r Borrower any
<br /> in�eres�or earnings an�he Funds. Borr�wer ar�d Lender can agree in writ�ng, however, tha�interest shall be
<br /> paid an the�unds. Lender sha1l give to Borr��ver, wi�h.�ut charge, an annua� accoun��ng of�he Funds as
<br /> required by R.ESPA.
<br /> �f there�s a surpius of Fund�held �n escrow, as defined under RESPA, Lender sha�� accoun��fl Borr�v�er for
<br /> the exce�s funds in accordance w�th R�SPA. If�her��s a shor�ag�af Funds he�d in escraw, as de�ned under
<br /> RESPA, Lender sha�l notify Borr�vv�r as requ�red by R.ESPA, and Barrower shall pay�o L�nder�he amaun�
<br /> necessarsr t�make up the shortage in accordance wit� R�SPA, bu�in no m�re than 12 monthl�pa�men�s. �f
<br /> there�s a def�ciency tif Funds he�d �n es�raw, as de�ned under RESPA, Lender sha11 no��fy Borrower as
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