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<br /> An� applicatian of paymen�s, �nsurance proceeds, or Mis�ellaneflus Proceeds �o prinGipal due under�he Note
<br /> shall no�ex�end or pos�pone�he due da�e, or�hange the amount, af the Periodic Paymen�s.
<br /> 3. Funds for Escr�w I�ems. B�rr�wer shal�pay to Lend�r on�he da� Per�adic Payments are du�under the
<br /> Note, unt�l �he Nate is paid in full, a sum�the "Funds"} to pro�ride for paymen�af amounts du�for: �a}tax�s
<br /> and ass�ssments and other items which can atta�n prior��y o�er th�s Securi�y �nstrum�n�as a i�en or
<br /> en�umbrance on the Proper�y; �b} �eas�ho�d pa�ments or ground r�nts on the Property, if any; �c}prem�ums
<br /> for any and all �nsurance r�quirec�b� L�nder under Section 5; and�d} M�rtgag��nsurance premiums, if any,
<br /> ar any sums pa�a��e by Borrawer�o Lender in lieu af�he pa}�ment of Mar�gage�nsuran��pre�m�ums �n
<br /> a���rdance�ri�h the provis�ons of 5ection 1�. Thes�i�ems are ca���d "Escrovv Items," At orig�nation or at
<br /> an�t�me dur�ng�he term of�he L�an, Lender may require tha��am�mun�ty Associa�ion Dues, Fees, and
<br /> Assessments, if any, b�escr�v�ed by Borrovver, and such dues, fe�s and assessnr�en�s sha��t�e an �scraw
<br /> �tem. Barrav�er sha11 promptly furnish to I�nder a�l no��ces of amounts to b�pa�d under th�s Sec�ion.
<br /> B�rrow�r sha�l pay Lend�r t�e Funds f�r Escraw Items un�ess Lender vcraives Borr�wer's abliga�ion�o pay
<br /> the Funds for an�or all �s�row �te�ns. Lender may vva��re Borra�er's ob��ga�ion ta pa�to Lender�unds f�r
<br /> any�r a�l Escrow Items at any time. Any such wai�er rna�only be in�vr��ing. �n�he e�en�af such waiver,
<br /> Borrov�rer shail pay d�rec�ly, when and v�here payable, �he amounts due far an}� Es�raw Items for whi�h
<br /> payxnen�of Funds has been wai�ed by Lender and, if Lender re�uires, sha�� furnish�o Lend�r receip�s
<br /> evidencing such�aymen�within su�h time period as Lender may require. Borrovver's ab��gat�an��make
<br /> such payments and to pr�vide receipts shall for all purgos�s be deemed to be a covenant and agreernen�
<br /> conta�ned �n�h�s Secur�ty Instrument, as �he phrase "cn�enant and agreemen�" is used in Sec�ion 9. If
<br /> Borrower is obl�gated to pay �scrow Items d�r�ctly, pursuant�o a vva��er, and Borrower fails to pay the
<br /> amoun�due for an Escrow �tem, Ilender may exerc�se i�s rights under Se�t�on 9 and pay such amount and
<br /> Barrow�r shall then be�b�igat�d under Section 9 to repay to Lender an� such amoun�. L.�nder may rev�ke
<br /> �he vva�ver as to any or al� Escrow I�ems at any t�me by a no���e g��ren�n accordan�e wi�h Secti�n IS and,
<br /> upan such re�ocar��n, Borr�wer sha�I pay�o Lender aI� Funds, and �n such amounts, tha�are then required
<br /> un�er this Section 3.
<br /> Lender may, a�an�r time, co�l�ct and ha�d Funds in an am�unt �a} suffic�ent to permit Lender to app���he
<br /> Funds at the�ime spec�f�ed under RESPA, and ��}nat to exceed the max�mum amount a Iender can require
<br /> under RESPA, Lender shal�es�imate the amflun�of Funds due on�he basis of current data and reasona�Ie
<br /> �stimates�f e�pendi�ures of fu�ure Escrov� Iterns�r otherwise�n a�cordance wi�h App��cable Law.
<br /> Th� Funds sha��be he�d in an inst��ut�on v�hose depos�ts are �nsured b�a federal agenc�, instrumentality, ar
<br /> en�i�y �inciuding Lender, �f L�nder�s an ins���utian who�e deposi�s are sa �nsured� or in an� Federal H�me
<br /> Loan Bank. L�nder shall apply �he Funds�o pay the Escravv Items no later�han the time spec�fied under
<br /> R�SPA. Lender shal� not charge Borrovver for halding and applying�h� Funds, annua��y analyzing the
<br /> escrow accoun�, or�erif�ing the�scrow ��ems, unless Le�der pays Bflrrower inter�st on�h�Funds and
<br /> Appli�ab�e Law permits I.ender�o rr�ake such a charg�. Unless an agreem�nt is rnade in wrzting or
<br /> Appl�ca��e Law requires interest�o be paid on the Funds, Lender shaii nat be required to pay Borr�w�r any
<br /> interes��r earnings on��e Funds. B�rr�wer and L�nder�an agree in wr�ting, howe�er, tha�in��res�sha��be
<br /> paid on�he Funds. I.lender shal� gi�e�o Borrower, wi�h�u�charge, an annua� accaunting of�he Funds as
<br /> requ�red�y RESPA.
<br /> �f there is a surplus�f Funds held in escrow, as def�ned under R.�SPA, Lender shall ac�ount to Barrawer for
<br /> the excess funds in accordance wi�h RESPA. Xf�here�s a shor�age of Funds h.eld in escrow, as def�ne�under
<br /> R�SPA, Lender shal�n�tif}� B�rrower as required by RESPA, and Barrovver shall pa�to Lender the amaunt
<br /> nec�ssary to�nake up the shor�age�n acc�rdan��with R.ESPAs but in no m�re than 12 mon�hl�payments. �f
<br /> there �s a deficiency of Funds h��d in escr�v�, as defined under RESPA, Lender shall no�ify Borrov�►l�r as
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<br /> Wvlters Kluwer�inan�ia�5er�ices Page 5 vf 17
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