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��15�3�59
<br /> Any applicat�on of pa�m�nts, insurance proceeds, ar Miscellaneous Pro�eeds to principal due und�r the Not�
<br /> sha�l not extend or pastpone�he due da�e, �r change the amoun�, of�he Periodic Paym�n�s.
<br /> 3. Funds for Escraw Items. Bnrrower shall pay �o L��der on the day Period�� Payments a�r�due under the
<br /> No�e, unt�1 the Not�is paid �n ful�, a sum�the "Funds"} to pra�ide for payment of amounts due for: �a}taxes
<br /> and ass�ssm�nts and�ther items which can at�ain pri�r��y o�rer th�s Security Ins�rument as a lien or
<br /> encumbrance o�the Proper�y; �b� Iea�ehn�d pa�ments�r ground ren�s on the Proper�y, if any; ���premiums
<br /> for any and aiI insurance required by Lender under Section 5; and�d} Mor�gage�nsurance premiums, if any,
<br /> or an� sums pa�able by B�rrawer to Lender in l�eu�f the paym�n�of Mor�gage Insurance premiums �n
<br /> a��ardance w�th the provisi�ns af 5�c�ion 1�. These items are cal�e�. "Escrow Items." At orig�na�ion or at
<br /> any t�me during�he term flf�he Loan, Lender ma� requir�that�ommuni�y Assaciati�n Du�s, Fees, and
<br /> Assessmen�s, if an�, be escr�wed by Borrower, and such dues, fees and assessments sha11 be an Escrow
<br /> ��em. Borra�ver shaii promptly fixrn�sh t� Lender aI�n��ices of amoun�s�o be paid under this S���ion.
<br /> Borrower sha1� pay Lender the Funds for�scrow I�ems un�ess L.�nder waiv�s Borrawer's ob�igati�n to pay
<br /> the Funds ��r an�r ar al� Escrov� I�em�. Lend�r mr.ay wai�e Borrower's obligation to pa��a Lender Funds for
<br /> any�r a1I Escrfl�v Items a�any time. Any such waiver may flnl�be in wr�t�ng. In the e�en�of such wa�v�r,
<br /> Borrower sha�l pay directly, when and�vhere payable, the amaunts due for any Escrav� I�ems for which
<br /> payment of Funds has been wa��ed by Lender and, if Lender requ�res, shall furnish t� Lender receip�s
<br /> evidencing such payment v�rithin such��me period as Lender may require. Barrower's�bligation to make
<br /> such pa�rmen�s and ta pro�ide recei��s shall for a�l purposes be deemed�o be a co�enant and agreemen�
<br /> con�ained in this Secur�t�Ins�rument s as the phra�e "cnvenant and agreement" �s used in Sectinn 9. �f
<br /> Borr�v�er is ob��gated t�pa� EsGrav�r �tems d�rectl�, pursuant�a a�va�ver, and Barr�w�r fails to pay the
<br /> amount due f�r an�scrow Item, L�nder ma�exercise its rights under Sec�ion 9 and pa� such amount and
<br /> Borrow�r shal�then b�flb�igated under Section 9�o repay to Lender any such amoun�. Lender may rev�ke
<br /> �h�waiver as t� any or aII Es�row �tems at any time b�a no��ce gi�en in a��ordance with Sec�ion 15 and,
<br /> upan such revocat�on, Borrovver shali pay�o L.�nder aI� Funds, and �n such amoun�s, that are th�n required
<br /> under this Section 3. �
<br /> Lender mia�, at any time, co�lec�and ho�d Funds �n an.am�unt�a� suff�ci�nt�o p�rmit Lender to app�y�he
<br /> Funds a��he�ime speci��ed under RESPA, and �b} not to exceed�he maxirnum amount a I�nder�an require
<br /> under RESPA. L�nder shall es�ima�e the a�ount�f Funds due on�he basis af curren�data and reasonable
<br /> es��mates of expendi�ures of future Es�row It�ms flr o�herwise in accordance wi�h Appl�ca��e Law.
<br /> Th�Funds sha�l be held in an institu�i�n whas�deposi�s are insured b� a fed�rai agenc�, instrumentalit�, ar
<br /> entity �inc�uding Lender, if Lender�s an insti�ution wh�se dep�sits are sa �nsured}or�n any Federal Hame
<br /> Laan Bank. Lender shal� app�y the Funds to pa� �he Escr�w �tem�no Iater than the tim�e spec�fied under
<br /> RESPA. Lender sha�l not charge Borro�rer far ho�ding and appiying the Fund�, annua��y ana�yz�ng th�
<br /> escrow accoun�, or�erifying th�Escrow �tem.s, uniess L�nd�r pays Borrnwer interes�on the Funds and
<br /> Appl�cabie Law perm�.�s Lender�o make such a charge. Uniess an agreemen� is made in v�rr��ing�r
<br /> App�icab�e Law requires �r�terest to be paid�n�h�Funds, Lender sha11 not be required to pay Borrov�rer any
<br /> in�eres�ar earr�in�s on the Funds. Barrower and Lfender can agree in wri�ing, hov�rever, �ha� in�erest sha�l be
<br /> paid on th�Funds. Lender shail gi�e�o B�rrovv�r, wi�hou�charge, an annual accounting of the Funds as
<br /> required b� RESPA.
<br /> If there�s a surp�us of Funds heid �n escraw, as def�ned under RESPA, Lender shail account to Borrawer for
<br /> the excess funds in acc�rdance v�►�ith RESPA. �f there �s a shor�age of Funds held in escrov�►l, as defined und�r
<br /> RESPA, Lender shall notify Bnrr�w�r as required by RESPA, and Borrower shail pa�r to Lender�he amount
<br /> necessary to make up �he shor�ag��n accardance�vi�h RESPA, bu�in no more than 1 Z m.on�h�y paymen�s. �f
<br /> �here is a def�ciency�f'Funds h�ld in�scro�r, a�defined under RESPA, Lender shall n�t�fy Barrov��r as
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