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��15�4547 2. Applicativnaf Payments or Pro�eeds.Exce�t as other��rse�escrxbed in this S�ction 2, a��payments accepted and app�ied by Lender shat�be appl�ed in the follawing order of pr�orit�; (a� ir�ter�st du�ut�der the No�e;(b}prir�cipal due under the I�Tote;(�)amounts due under Sect�on?. Such payments sha�ll be ap�lied ta each Periodi�Paymen�in the order rn which it b�ecame due.Any remaining amounts sha11 b�applied�rst tQ Zate charges,second to any other�.mounts due under this Security�r�strum�nt,and then to red�ce the principal balance of the Note. If Lender recei�es a payment from Bflrra�er far a delinque�lt Periodic Paym�nt whi�h includes a suffic�ent amount to pay any late charge due,the payment may be applied to the delinquent pa�ment and the late charge.If rnor�than ane Periodic Payrnent is outstanding,Lender may app�y an�r�ayrnent received from Borrawer to the repayment of the Periodic Payments if,and to the extent that,each paym�nt can be paid in full.To the extent that any excess exists after the payment is applied to the full payment of ane or more Per�odic Payments, such excess may be a�plied to any late charges due. Voluntary pr�payments sha�l be applied first to any prepaymeat charges and then as described in the Note. Any applicatio�of paymcnts, insurance pr�cceds,or Miscelianeous Prac�eds ta princ�pai due under the Note sha��nat extend or postp�ne the due date,or change the amount,of the Periodic Payments. 3. Fundsfor Escrow�t�ms. Barravver shall pay�a Lender on the�ay Periodic Payment�are due under the �ote,until th��Note is paid�n full,a sum�the"F�.nds"�to provide for payrnent of amounts due for; (a�taxes ' and as�essrnents and other items which can attain priority o�er this Security Instrumen�as a l�en or encurnbrance on the Property;�b}lea�ehold payments or ground r�nts on�h�Property, if any;{c)prern�ums for any and al�insurance required b�Lender under Section 5;and(d}M�rtgage Insura.nce premium�, if aay, or any sums payab�e'by Borrov�er to Lend�r in Iieu of the pa�ment of Martgage Insurance premiums in accordance with the prov�si�n�of Se�tion 1�,Thes�items are called"Escrou�Items."At�rigina�ion or at any time during the term of�he Loa�., Lender may requu-e that�ommunity Association Dues,Fees,and Assessments,xf any,�e escrowed b��3orrawer,and such dues, fees and a�se�sments shall be an Escraw Item.Borrow�r sha.11�romptly furnish to Lender a11 notices of amounts ta be paid under this Section, B�rrawer sha]l pay Lender the Funds for Escro�r Items unl�ss Lender waives Borrower'�abli�;ation to pay the Funds f�r any or all Escro�Ztems. Len�ier may avai�e Borro�ver's obligation ta pay ta Lender Funds for any or a�l Escrow Items at any time.Any such`vaiver ma�only be in tivriting. In the event of su�h wa�ver, Borrower sha��pay d�rect�y,when and where payable, the arnounts due for a�ny Escrow I�ems f�r which payment af Funds has been�vaived by Len�er and,if�,�nder requ�res,shait furnis�i ta Lender receipts evidencing such payment�vithin such time periad as Lendcr may require. Borrower's obligation t�make such payments and ta provide receipts sha�l fQr a��urpos�s be deemed to be a co��nant and agreernent contain�d in this Sccurity Instrumcnt, as the phrasc"ca�enant and agrecment" is uscd in Section 9, If Borrower��obligated to pay�,scra��It�ms directly,pursuant to a v�aiver,and Bor�'o�er fails to pay the amount du�for an Escrow Item,Lend�r may exercise its rights under Se�tion�and pay suc�amount and Bt�rrov�er shal�then be obligat�d under�ection 9 to repay to Len�er any such amount. I.r�nder may rev�l�e the vvaiv�r as t�any or all Escro�r�tems at any t�rne b�a notice given in accordance tivi�h Section 15 and, upon such r�vo�ation,Borro�ver shall pay to Lender axI Fun�.s,and in such arnoun�s,�hat are then r�quired under this Section 3. Len�er may,at any time,callect and hold Fun�is in an amount(a}sufficient tn permit Len�er to apply the Funds at the time�pecified under RESPA,and��)not to exceed the maximu�amaunt a lender can reqraire under RESPA.Lender shall es�imate the amount of Funds due on the basis of current data and reasanable es�imates of e�penditures of future Escro�It�ms or other�ise in ac�ordance�ith Appiicable La��. NE8RAS1{A-5ingle Famiiy-Fannie MaelFreddie Mac L1NIFORM INSTRUMENT WITH MERS F�rm 3D28 91Q1 VMP� VMPBA�NE}�13n2].4a Wafters Kluwer Financiaf 5ervices . Page 5 of 17 qo3��a�s6zl o�� 3�1 as17