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<br /> Any applica�ion of pa�men�s, insuran��praceeds, or Nlisceilaneous Pro��eds to principa� due under�he Note
<br /> shall nat extend�r pos�pone the due date, or change the amount, �f the Per��d�c Pa�men�s.
<br /> 3. Funds for EScra�v I�ems. B�rrower shai�pa��o Lend�r an�e day Periodic Payments are due under the
<br /> Not�, un�il �he Note is paid in fu1�, a sum�the "Funds"} �o pr�v�de f�r payment of.axnaunts due f�r: �a} taxes
<br /> and asses�men�s and�ther�tems which can attain pr�or�ty o�er this Securi�� Instrument as a lien or
<br /> encum.brance on the Prop�r�y; �b} �easeh�Id pa�men�s or ground ren�s an�he Prop�rt�, if any; �c}prema.ums
<br /> f�r any and aI� i�surance require���Lender under Secti�n 5; and�d} N�or��age�nsurance premiums, if any,
<br /> ar any sums payable by Borrawer to Lender�n l�eu of the pay�m.en�af Mor�gage�nsurance premiums in
<br /> accordance v�rith th�pr���s�ons of�ect�on 1 D. These items ar�called "Escrovv Items," At orig�nati�n or at
<br /> any t�me during�he term af the I..�an, Lend�r may require�hat Communi��Associa�ion�3u�s, Fees, and
<br /> Assessments, if any, be escrowed��Borrflwer, and such dues, fees and assessm.ents shall be an Escrow
<br /> ��em. Borrov�er shal�promp��y furn�sh�o Lender a�� n���ces of amounts to be paid und�r th�s Section.
<br /> � �y �� •' ;-= B�rrow�r shall pa�r Lender�h�Fun�d��or Escrov� Items unless I.ender wai�es Borrower's a�b���a�ion to pay
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<br /> the Funds for any or a11 Escrow ��ems. Lender rnay ura�v�Borrov�rer's o��xga�ion to�ay�o Lend�r Funds far
<br /> an�flr all Escrav� �tems a�any tin�.e. An�such wai�rer may anly�e�n wri�ing. �n�h�e�r�n��f such wai�er,
<br /> Barrower shal�pay direc�l�, when and where paya��e, �he amaun�s due far an�Escrow I�ems for which
<br /> paym�n��f Funds�as heen wa��ed by Lender and, if L�nder requir�s, sha11 furn�sh t�Lender r��e�p�s
<br /> ev�denc�ng such payment�u�th�n such��me period as Lender may requ�re. Borrower's obl�gafion�a make
<br /> such paymen�s and to provide recexpts shai� far a��purpases be deemed t�be a�ovenant and agre�men�
<br /> cantained �n th�s Security Ins�rumen�, as the phrase "��venant and agreemen�" is use�i in Sect�on 9. �f
<br /> Borrower is abliga�ed to pay Escrov� I�ems direc�I�, pursuant�o a wa��er, and Borrower fai�s�o pay�he
<br /> axx�aunt due f�r an Escraw�tem, Lender m.ay exerc�se i�s rights under Sectian 9 and pay such amaun� and
<br /> Barrawer sha��then be�b�iga�ed under Se��ion 9 to repay to I.ender any such amount. Lend�r may re�ake
<br /> the wa��er as�a any or aIl Es�row �tems at an�time by a no�i�e g�ven in aGc�rdance wi�h Sectifln �.5 and,
<br /> ~� upon such revacati�n, Borrow�r sha11 pay�o Lender a�I Funds, and �n such amounts, that are then requir�d
<br /> under�his S�c�ian 3.
<br /> Lende�r�.ay, at any time, co�iec�and h��d Funds in an amount �a} suffici,�n�to p�rrn�t Lender�o apply the
<br /> Funds a��he�ime specif��d und�r RESPA, and �b}not tfl e�ceed the ma�imum arnount a�ender�an require
<br /> under RESPA. Ilender sha11 e�timate th�arnount of Funds due on the basis of current da�a and reas�nable
<br /> estima�es�f expenditur�s of fu�ure Escrow �tems or��hervvis�in ac�ardance wi�Appiicabie Law.
<br /> Th�Funds sha��be h�ld �n an�nst�tutian whose depos�ts are insured by a federal a�ency, �ns�ruxnentali�y, or
<br /> ent�ty �including L,ender, if Lender is an ins���u�ian whose depns�ts are so insured} or�n any Federal Home .
<br /> L.�an Bank. Lender sha�� app�y�he Funds to pay fhe Es�row �tems no la��r�han the time specified under
<br /> R�SPA. Lender shall no�char�e B�rr�wer for halding and appi�ing the Funds, annuai�y ana�yzing the
<br /> escrow accoun�, or verifying the Escrow Items, unless Lender pa�s Borrower�nteres�on the Funds and
<br /> App��ca��e Law permi�s Lender�o make such a charge. Unless an agreemen�is made�n writ�ng or
<br /> Appli�ab�e Law requires in�eres��a be paid on the Funds, Lender�hall not�e required�o pay Borrow�r any
<br /> interes�ar earning�on the Funds. Borrower and Lender can agree in v�riting, however, that�n�erest s�a��be
<br /> pai� on the Funds. Lender sha�l gi�e to Borrovv�r, w�thou�charge, an annual acc�un�ing of�he Funds a�
<br /> requir�d�y RESPA.
<br /> �f there is a surplus of Funds held �n escrow, as d�f�ned under RESPA, Len�.er sha11 account to Borrower for
<br /> the excess funds �n accordance w��h RESPA. �f�here�s a shor�age af Funds h��d in�scrow, as de�ned under
<br /> R�SPA, Lender sha��no�ify Borrower as required by RESPA, and B�rrov�rer shall pa��o I.ender the am�un�
<br /> necessary to make up�he sh��.age in accordanc�wit� RESPA, but in n�more thar� �.�monthl�payments. �f
<br /> �here�s a defi�ienc�of Fund�he�d �n escraw, as de�ned under RESPA, Lender sha�l notify Borrower as
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