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<br /> An�ap��icat�nn of paymen�s, �nsuranee pr�ce�ds, or Misce�laneaus Proceeds�o princ�pa�du�under the No�e
<br /> shal�not extend ar postpone the due date, or�hange the amaun�, �f the Periadic Pa�ments.
<br /> 3. Funds f�r Escraw I�ems. Barr�wer�ha�i pay to Lender on the day Per�od�c Paymen�s are due under���.e
<br /> �o�e, unt�1�he Note is paid in ful�, a sum�the "Func�s"}to pro�ide for payment of amounts due for: ta}ta�es
<br /> and ass�ssm�nts and o�her items urhich can a�tain pri�rity o�er�his Security�n��rument as a�ien�r
<br /> encumbrance�n the Proper�y; �b}leasehold payments or gr�und rents on the Property, if any; �c}premiums
<br /> for any and a���nsurance requ�red by Lend�r under 5ect�fln 5; and�d}Mor�gag��nsuran�e premiums, if any,
<br /> or any surns pa�able by Borrflv��r�o Lender in lieu of�he payment of Mar�gage�nsurance prerniums in
<br /> ac�ordance urith the pro�risi�ns af S�cti�n ID, These items ar�called "Escra�r I�ems." At orig�nation or a�
<br /> any t�me dur�ng�he term�f�he Lvan, Lender may require tha�Cammunity Assaciation Dues, Fees, and
<br /> Assessments, if any, be�scrow�d 1o�r Borrawer, and such du�s, fe�s and as�essmen�s shall be an Escrow
<br /> �tem. Borrower shal�promptly furnish�o Lender al�notices of am�unts to be paid under thi�Sectzon.
<br /> Borrov�er sha�1 pay Le�.der the Funds far Es�ro� �tern�unless Lend��r vva��ves Barrovver'�ohligation to pay
<br /> the Funds for any vr a�� Es�r�w I��ms, Lender may wai�e Borrower's o�l�gat�an to pay ta L�nder Funds for
<br /> any or a11 Escrow I�ems a�an�r t�me, Any such wai�er may an�y be�n�vri�ing. �n�he e�ent af such�vai�er,
<br /> Bnrrov�er sha11 pay direc�ly, when and v�here payable, the amoun�s due for any Es�row�tems for which
<br /> payment af Funds has been waived hy L��der and, if Lend�r requ�res, sha11 furnish�a Lender receipts
<br /> e�r�dencing such pa�men�within sueh��me period as L�nder ma�require, B�rrower's obligat�on�.o make
<br /> such paym�nts and�o provide receipts shall for a�l purposes be deem�d ta��a ca��nant and agr�ement
<br /> �ontained in th�s Se�urity�nstrumen�, as�he phrase "cflvenan�and agreement" �s used in Sec�i�n 9. If
<br /> Borrower is obligated�o pay Escrovv Items directly,pursuant ta a wa�ver, and Borrow�r fa�is to pay�he
<br /> arnaunt due far an Es�row Item, Lender may exercisc i�s rights under Sect�on�and pay such amount and
<br /> Barraw�r sha�1�hen be ob�igated und�r Sec�ion g to�epay�o Lender any such am�unt. L�nder may re�r�ke
<br /> th�wai�rer as to any ar ail Escr�w�tems a�an��ime by a no�ic�givcn in accordance w��h S�ction �5 and,
<br /> u�on such re��cat�on, Borrower shal�pa�ta Lender all Funds, and in such amaunts, that are then requir�d
<br /> under this Sec�ion 3.
<br /> L,�nd�r may, at any time, col�ect an.d ho�d Funds in an am�un� �a}sufficien�t�permit L�nder to apply th�
<br /> Funds at the�ime speGified under RESPA, and(h}na�to exceed�he maximum amount a lender can re�uir�
<br /> und�r RESPA. Len�er shali�stirna�e�he amaunt af Funds due on�he�as�s of current da�a and reasonab�e
<br /> estimat�s af expenditur�s of fu�ure Escr�w Yt�ms�r otherv�ise in accordance with Applicab�e Law.
<br /> The Funds sha11 be held in an ins�itut�nn whas�depasits ar�insured by a federal agency, in�trumenta�ity, ar
<br /> en�ity �inc�uding Lender, if Lend�r is an ins���utzan v�rhose deposi�s are so insured}ar in an�Federa�Home
<br /> Laan Ba��k. Lender s��.all apply�he Funds�o pay th�Escro�v Iterns no�ater�han the time sp�cified under
<br /> RESPA. Lender shal�not charge Borrower f�r ho�dxng and appl�ing�he Funds, annual��analy2ing�he
<br /> es�row account, �r verifying the Escrow Items, un�ess Lender pay� Borrawer in�erest on the Funds and
<br /> Applicable Law permi�s Lend�r to make such a char�e. Un�ess an.agr��rnen�is made xn wr��ing or
<br /> App�i�ab�e Law req�ires interest to be paid on the Funds, Lender sha�� no�be requir�d�o pa�r Barra�ver any
<br /> in�er�st ar earn��.gs on the Funds. Borr�w�r and L�nder�an a�re�xn writing,ho�vev�r, tha�zn�eres� sha11 be
<br /> paid an�he Funds. L�r�der shal�gi��to Borrow�r, withau�charge, an annuai accounting af th�Funds as
<br /> required by RESPA.
<br /> If there is a surp�us�f Funds held�n escraw, as def�ned under RESPA, Lender shal�account to Barrav�rer for
<br /> �he excess funds zn accordance with RESPA. �f there�s a shortag�flf Funds held in escrow, as defined under
<br /> RESPA, Lender shall na��f�r Borr��ver as required by RESPA, and B�rrov�rer shall pay ta L.end�r�he amoun�
<br /> necessary to ma.ke up�he shor�age in accardance w�th RESPA y but in no more than �2 monthly payrnents. �f
<br /> �here��a defi�iency af Funds he�d�n escrow, as c�ef�ned under I�.ESPA, Lender sha��notify��rrovv�r as
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<br /> Woiters Kluwer Finar�ciaf S�rvi�es Page 5 oi 17
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