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, <br /> , ��15�39�7 <br /> L�AN#: 3314'139�'� <br /> �. Ap��i��t��r� �f P��m�r�t� �r p�����ds. E�c�ep� a� ���erwi�e d���rib�d �n ��is Se�t��n � a!� <br /> �aym�n��acc�p��� a�d a�p1��� by Ler�d�r�ha�l be�pplied in �he fo����r��g �rd�r o�pri�ri : � ir�ter��� <br /> due u�der th�l�a��� � ��r� � � � <br /> , � }� c���l due un��r�h���te, �c���n�u��s du�under S�ct��vn 3. ��ch pay��nts <br /> �h��� ���p�1����o e��h F'er�od�c F�a�m�nt�n �he�r�er�n�h��� i�b�c�n��due.Ar� r�m���i� amoun�� <br /> � � <br /> sh�l� b�app�ie�f�rs��a la�e �h�rg��, seca�� �o�ny �t��r�mnur�ts due ur�de�-th�s�ecu�� ��s�rur��r�� <br /> an��h�n �o r��u�e��e ��n � � , <br /> p c p�� ba�a�ce af�h� Na��. <br /> !f Lend�r rece��e� � pay�en� �ran� �arro��er for � d�finque�� Peri�d�c Payrn�nt u�hich includ�� � <br /> suf��cie�f a��untto pay any la��charg�dUe,t��payrnen�may��app�ied�o the de��n u�r�t a m��r�and <br /> q � Y <br /> �h����e c�arge.If n��re than or�e F��r��dic Paym�nt is�u�s�and�ng,L��der m�y apply ar� a �er�t r�c��v�d <br /> Yp � <br /> f�fl�n E3�rro�rer to t�e r�p�ym�n�of�h�Per��dic Pa�n7en�s if, an�t�t�e��ct�n��hat, ea�h a mer�fi can b� <br /> pY <br /> pai�1 �n��ll. To t�e���n��h��any exc��s exi�t�aft�r#he pa���r��i��pp�ied�a�h�full�� men��f o��ar <br /> Y <br /> . �ar� �eri�dic��ym�n��, su�h excess may ��a���i�d�� an� ���e c��rges d�e. Volunta�y�rep� nr��n�� <br /> Y <br /> shall �e a�p�ied f�rst��any prep��n�en�char�es ar�d ��en as des���b�d in t�e N���. <br /> Any�pp�icaf��n of p�ym�n�s, insura�ce pr�c���s,�r�i�c�li�neau�F��oce�ds���rincipa�due unde� <br /> �he No���h��� n���x�end ar postpa�e�h�du�d���, �r ch�ng�th� an��u�t, ��fi�� PeriQdic�'� rnen�s. <br /> Y <br /> � �, F`u�a��f�r�s�r��Ite��. �a�ro�er shall pay��Ler�d�r on�he day Periodi��'aymer��s ar�du� <br /> under the Note, u��i��h� Nat��s p�id �r�ful�, a sum ��he"Fund�"}���rovid�f�r�ayment af amoun�s due <br /> for: �a}��xe�ar��as�e��men���nd oth�r ifems�t�rhi��can at�a�� priori�over�his���uri�y�ns�rum�n�a� <br /> � �i�n ���ncu�bran�e o���� Pra�er�y; ��} ���seho�d p�yrn�n�s or ground �en�s an�h� Prvp�r�y, if an ; <br /> Y <br /> �c}prem�urns for an�and a����s�ranc�r�auired b�L�nde�under�ee��vn 5; and�d}IIl�ortgag��n�ura�c�e <br /> premiums,�f�n�,a��n��ums pa�abie by gorr�wer��Lend�r i�li�u af�he�a�m�n�of�ortga���nsuranc� <br /> �r�m�urn� in ��cordan��►�r�i�h th� prav����ns of 5����ar� 1�. Th��e ���ms are ��I�ed "Es�raw i�e�ns."A� <br /> ori��n��i�n� ar a�an�€��rn�d�ring �h�fiert� �f th� La�n, Len�er r�nay r�quir�e�h����mmuni#y�4s�ac��ti�� <br /> due�, F�es, and�sse��rnen�s, if ar��, b��s��a��d����rro��rer, �nd s�ch du�s,f���a�d ass�s��n�nt� <br /> � shall be an Es�ra����rr�.�3arra�,n��r�h��!prvmp���furnis��o L�r�d�r�!�n�ti�e��f�m�un����be �id under <br /> P <br /> ���s S�e���on. B�rr���r shall p�� Lend����e Funds for E��ra� ��ems �nl��s L�nder v�ai��s �arr�v��r'� <br /> o��igation�� pay fihe F�r�d�for any or a�l ���rov��fierr�s. Le�der ma�����re E��rra�nrer's ablig�tior�to pay <br /> �v L�nder Funds f�ar�ny �r al� E�c��v�r �tems������i�e.A�y suc��ra��r�r r��y o�l�► �e i��riting. In �he <br /> event of such �ai�er, �orr��v�r�ha[� pay direc�l�, v�hen and �h�r� payabl�, th� amo���� due f�r ��y <br /> �s�raw Ite�� f�r�nrh��h paym�r�� of Fund� ha� b��� vvai�ed by L�nd�r and, �f �.�nder requi���, �hal� <br /> furn�s� �a L.ender r�c��pts ��r���n�Eng �uch paym��t�r�thin s�ch t�r�� ��ri�d as L�r��er ma� r�quir�. <br /> ���ro�nr�r�s obl�gati�n ta r�ak��uch �aym�n�s�nd to pra��d�receip�s sha�I for af[ pu�p�se�b����me� <br /> �a be a ��venanf ar�d a�re���n� c�n�ai��d in �hi� �ecuri�y �r�s�r��n�nt, a� �n� p�rase "co�enan� ��d <br /> agr�e�en�" is �s�d in �ec�i�n 9. �f Bor���er is ob��ga�e� �a pay �s�r��r ���m� dir�c�fy, pursu�n� to a <br /> �a�ver, �n� Bo�r���r�a��� to pa� �he �mour�t �ue for �n E�cro� ��en�, �.e�d�r rr�a� �xercis� ��s righ�� <br /> �nd�r��c�i�n � �nd pay su�h �rr��u��a�d �or�ow�r sha�� �h�n �� �bligat�d t��d�r��c�i�n 9 �o r���y <br /> t�Ler�d�r��y such an��un�. L�en��r rr�ay r���k�t�e�rai��r�s��an�or a�� E��ro�r I�ems at��}���m��y <br /> a n���ce gi��n in a�c�rdanc���th �ec�ian �� ar�d, u�fln �u�h r��o��fiian, E�a�r��er sh��� pa��� L�r�der <br /> ��I Fund�, and �r� �u�h arn�u�ts, �h���r��hen r�quir�� under�h�s ��c�i�n 3. <br /> Le�d�rma�, a�an�tim�, coi��c�an�hold Fund�in a�amaun��a}suffi�ien�t�p�rm��L�r�d�r��app�Y <br /> �h�Funds at tne tEme spe�i�i�d und��RESP�r, and ���not to exc�e�t�e r-�ax�mum amount a��nder c�n <br /> re�U[r� u�der���PA. L�nder s�a��!es�imate t�e arnount vf�und�du�on�h� basis��c�rr�n�d��a a�d <br /> ��a�ana�le esfiir�afes af�xpendi�ur��of fu�ur�E�cr��ite��or o�he�i���n��cardance�ri���pp�ica��� <br /> , Lav�. <br /> � T#��Funds sha��b�he��in�n ir�s�i�u�ion�r����d��o�i�s���in�u��d b�a federa�ag�r�c ,in��rumen���i <br /> Y �]1, <br /> �r�n�ifiy ��nc�ud�r�� �,e�d�r, if�.�r�der is an ins�itut��n�rhas� ��posi�s �r� �v insur�d} or in �n� F�d�r�� <br /> Han�e Loan B�r�k. L�r�der sna[C a�p�y�h�Fun�s t�pay�h�l�s�r��v�t�m�no�a�e������h��€r��specifi�d <br /> u���r f��SPA. L�r�d�r�hall n�t c��rge E�orro�ver f�r��ldi����d ap�O���ng t��Fu�d�, ��nu���}�a�alyzir�� <br /> t���sc�o�a�c�un�, or�er���ng�n� E�cr��It�t�s, u�1�s� L�nd�r p�y� �3�rr��v����t�rest an �h� F'u��s <br /> and��pl�cable �.a����n^ri�s L�r�d�r to mak�such a c���ge. Un�e�s an agr��rr��nt is m�de in wri���� ar <br /> �ppiicable L.�w requires i��er�est�o be paid on t�e ��nd�, Len�er sh��!r�o�b�re�u�r�d to pa� �3orro�r�r <br /> ��}r in�e�-�s��r��rn�n�s an th��ur�ds. �arr�vv�r ar�d Len��r�ar�agre�in�rri�ing, h���v�r, ��a�ir�t����� . <br /> shal� be paid an��� Funds. Lend�r shal� gi��to ��r�-v��r, ����ou��h�rge, an annua!���nun���� af�h�e <br /> Fun��as r�quir�d �y ���Pa, <br /> if��ere is a sc�rp�us �f Funds ���d in ���r��, as d�f���� u�der F��SPA, L�nd�r sha�l a��oun� �� <br /> ��rrv��r for��e�x���s fu�ds ir����ard���ce�ri�� �ES�'A. ���h�r�i���h�r��g��f F�nd�h�l��n e�cra�, <br /> ��d�fined�nd�r R��PA, L�r�der�ha�l no��f��flr�ov��r�s requir�d��F���p�,,and��rrov�er shal�p���� <br /> L��d�r�h�e amou��n�c��sa���rn�k�up�h���or��g�ir��ccord�n��`nri�h �E�f�A, �au��r� n�m�r��h�r� <br /> �� mont�ly pa�rr�e�ts. If t�e��i��defici�n�y�f Fur��s h�ld i�escr��, a�defir��� �nder RE���, Len��r <br /> sha[� ����fy E�orra�er as reqt�ir�d �y F���F��4, ���d �orro��r sh�il �a� �o �.en��r��� �r�oun� n�cess�r� <br /> to rri�k� up�h�d�ficie�c� �n acc��dan�e�i�� F���P�, bu��r� no �n�re�h�� �� mon�hly �ayments. <br /> Upo� p��m�r����t full �f ali sums��cur�� b�thi��ecur�� �ns�r�m�n�, L�n��r�hal� ��amp��� r�fund <br /> ta �3���aw�r a�� Fund� h�l� b�y L�nde�. <br /> 4. ���r�g��; l.����. 8arro�er s�a�� p�� a�l �ax�s, a���ssm�n�s, �ha����, f�n��, a�d �mpo�i���ns <br /> at�ribut�b���a�he F'rop�r���ich car� �ttain priari�� aver�nis �ecuri� �r�s�rume�t, �eas�hol� pa}�rnen��s <br /> " h�E��#���-�ingCe Family�_F��ni��aef�`red��e I�a��UN1���.1��N�T���IIE�I'�l�o�rv�3Q��'�l�'� <br /> El�ie Mae,inc. Page 4 of'�� � tv������ �3�� � <br /> � NEEDEED <br /> �610�12�'I 5 a'I:'�8 PM PST <br /> 1 <br /> ' . <br /> . � <br />