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��15�4575 �. App�i�ationof Payrnents vr Proc�eds.Except as otherwise d�scribed in this�ecti�n 2, all payments accepted and applied b�r Lender�hall be applied in the falic�wing arder of priarity:(a)in�terest due under the Nflte;�b�prineipal due under th�1�1a�.e;�c�amounts du�under 5�ction�.Such pa�ment�sha11 be app�xed t� each Fe��odic Pa.yment in the order in which it beGamc t�ue.Any remaining amounts s�ial�b�app�i�d fu-st�.� late charges,sec�nd to a��athe�amount�due under this Secu�rity Instrument,and then�a reduce the princip�.l bala�ce of t��ote. If Lender rece��e�a payment from Borro�uer far a delinquent per�odic Payment urhiGh includ�s a suff cient amount t�pay any Iate charge due,the payment may be appli�d#o the delinquent payment and the Iate charge.If m�rG thaa one Perio�ic�a�m�nt is outstandrng,Lcnd�r rnay apply any payme�t rece��e�from Borr��er to th�repaymen�of'the F'erio�ic Payrn�nts if,and to the ext�nt t�at,each pa�ment can��paid in ful�.To the extent that any excess exists a.f�er the pa.yment is applied to the full paymen�of ane ar more PeriodY�Payrr�ent�,such excess may be app�ied ta any late charges�ue.Volurrtary prepayments shall be app��ed f rst��any prepayznent charges and then as described in the Note. Any applicati�n of pa�m�nts,�ns�ranc;e graceeds,�r Miscella�.�ous Praceeds ta pr�ncipal due under the�ote sh�a�l not�xten�ar postpan�the due date,or change the am�unt,�f th�Periad�c Payments. 3. Fundsfvr Escrnw items.Borr4wer sh�11 pay to Lend�r an the day Periodie Paytnen#s are due u�.dcr the N�te,until th�Note is paid in fi�ll,a sum�th�e"Funds"�t+a p�a�ide f�r paymen#af amounts due far:�a�t.axes and assessments and ather ite�ms which can attain priority o�er this Security Instrument as a iien or encumbran�e on the Property;�b��ease�aold pay�nent�or grou�7ci rer�ts an�he Property, �f any;(c)premiur�ns for any and all insuran�e required b�L�nder under Section 5;and(d)Mortgage�nsurance premiums,if any, or any sums payabt��y B�rrot�er tv Len,der in l�eu af the payment of Mortgage Insuranc�prem�ums in accordance w�th the pro�isians af Secti�n 10.These items are call�d"Es�ro�v Item�."At arigination ar at any time du�ing the term of the Loan,Lend�r may r�quire that C4mrnunity Assoc�atiori Du�s,Fees�and �ssessments,if any,be escro�ved b�r Borr�wcr,and sueh du��,fccs and assessmen�s sha�1 be an Escrow Item.�arro�ver�ha�i prompt�y furn�sh to Lend�r all not�ces�f am�unts to be paid under this S�ction, Borrower shall pay Leader the Funds for Escra�I�ems unless Lender wai�es��rrower`s obligatit�n to pay the Funds far any or all Eserow Items.Lender may wai�e Borrov�rer's obiigati�n to pay to Lender Funds far any or a1�Escrow I�ems at any time.Any su�h�vaiver may on�y be in�vritin�.In the event of such waiver, Borrawer shall pay directl�r,when and where payabl�,the amounts due for an�Escr�w Items far which payment of Funds has been waived by�etider and,if�.ender requires,shall f�u.rn.tsh ta Lender receipts et�idencin�such payment within such t�me perio�as Lender may r�quire. Barro�v�r's ab�igatian to make such payrri�nts and ta pro�idc rcccipts shall far a�I purpases be deemed to be�covenant and agreement contained in this 5ecurity Instrument,as the phra.se'"co�enant and agr��ment"is used in�ection 9.If Borrower is ob��ga�ed ta pay Escrow�tems direct�y,p�rsuant to a wa��er,aad Sorro�er fails to pay�he arnount due f�r arr Escrow Itern,Lender may exercise xts rights under�cction 9 and pay such amount and Bo�rQwer shall then be abligated under 5ectinn 9 ta repay to Len�ler any such amount. Lender ma�re�oke the wai�er as to any or alt Escrow Iterns at an�r tirn�by a notice given in accordance tivith Section 15 and, upon such revacatian,Borr�wer sha�l pa�t�L�nder alI runds,and�n such amounts,that are then require�l und�r this Section 3. Lender may,at any time,collect and h�Id Funds in an amou�t�a}suff cient tQ permit Lender to apply thc Funds at the time specif ed under RESPA,and�b�not to exceed the maximurn amauat a l�nder ca.n require under RESPA.Lender shall est�mate the amount of Funds due on the basis vf current data.and reasonab�e estimates of expenditures of fu.ture Escrow Items or at�erwise in a�uordance�vi�h App�icable La�v. NESRASF{A-5ing�e Family-Fannie Mael�reddie Mac UNiF4RM INSTRUM�NT W�TH M�RS Farm 3028 tl04 Wp,�p� VMP6A{NE)�9302].4� Wolters Kluwer FinanciaR Ser►�ices Page 5�f 1� q�33385955� 4233 593 �517