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<br /> Any applicati�n of Pa�ments, �nsurance proce�ds, or Mi��e�laneous Proceeds t�principa�due under t�e�Iote
<br /> sha��not extend or pos�pone the due date, ar change�he amount, of the Peri�dic Payrnen�s.
<br /> 3. �'unds for Escrow I�ems. Borro�ver shall�a�to Lender on�he day Per�od�c Paymen�s ar�due under th�
<br /> Note, unti�the No�e�s paid in full, a sum�the "�unds"}�o pravide far payment of am�unts due for: �a3 tax�s
<br /> and ass�ssments and o�her i�ems urh�ch can a��ain pr�orit�over this Secur�t�r �nstrurnent as a�ien or
<br /> encumbrance on�he Prop�r�y; (b��easehold pa�ments or ground r�nts�n the Proper�y, �f any; �c�premuums
<br /> for any and alI insurance required by Lender unde�r 5e�tzan 5; and�d}Mortgage Insurance prern�ums, if an�,
<br /> or an�su�ms payable by Borrowe�to Lender in�ieu of�he pa�ment of Mortgage�nsurance prerniums in
<br /> acc�rdance wi�h�he prov�sions of 5ect�on ��. These iterns are calied "Escrow�terns." At ariginat��n or at
<br /> an���me dur�ng�h��erm of�he L.oan, Lender may require�hat Cammun�ty Assaciat�on Dues, Fees, and
<br /> Assessments, if any, be escrowed by B�rrawer, and such dues, fees and a��essm�nts sha11 be an Escraw
<br /> Itex��. Barrower sha��prompt��r furnish�o Lender a11 nat�ces af amoun�s to be pa�d under this Sect��n.
<br /> Borrower shall pay I..end�r�he Funds for Escrovv Items unless Lender wa��res Sorrawer's ob�i�at�on tfl pa�
<br /> the Fun�s for any or aI�Escraw Items. Lender ma�r wa�ve Bflrrower's obl�gati�n to pay to Lender Funds far
<br /> any or a�� Escraw��ems a�any�ime. A�y such wa�ver may only be in vvr�t�n�. �n the e�rent��such wai��r,
<br /> Borr�wer shall pay direct�y, when and where pa�ab�e, the amounts due for an�Escz-ow �tenas fo�-whic�a
<br /> payment of Funds has been waived by Lender and, if Lender requires, shall#urnish to Lender receipts
<br /> evidencing�uch paymen�w��hin such��me period a5 L�nder may requ�r�, Borr�wer's obliga�ion to make
<br /> su�h pa�ments and to pr�vide receip�s shal�for al�purposes be d�emed to be a covenant and agreemen�
<br /> cantaine�.in thi�Security Instrumen�, as the phrase "�:��enant and agr�emen�" is used in Sec�ion 9. �f
<br /> Barrovver is ab�igated��pay Es�row Iten�direc��y, pursuant��a waiver, and Borr�w�r fai�s to pay�he
<br /> amaunt due f�r an Esc�-ow �tem, Lender ma�exer�i�e�ts right�under Section 9 and pay such amoun�and
<br /> Borrower sha�I�hen he obligated under Sectian 9�o r�pay ta Lender any such amount. Lender may revoke
<br /> the wa�v�r as to any or all Es�row Y�ems at any t�m�by a not�ce given in accc�rdance with Se�;tior� 15 and,
<br /> upon such reva�atian, B�rrawer�hall pay to Lender a11 Funds, and �n such amoun�s, that are then r�quired
<br /> under th�s Sect��n 3.
<br /> Lender may, a�any tirne, collect and hald Funds xn an amoun��a}suffic�ent ta perrn.i.�L.ender to app�y�he
<br /> Funds at the time spec�f"�ed under RESPA, and�b}na�to exceed the maximum am�unt a lender can require
<br /> under RESPA. L.�nder sha�l est�mate the am�unt of Funds due on th�basis of current data and reasonable
<br /> estimat�s of expenditures of future Escro�r Iterns or a�herwise in a�cardanc�wi�h Appl�cab�e LavU.
<br /> The Funds shall be he�d �n an institut�on wha�e deposits are znsured by a federai ag�ncy, instrum�nta.�ity, nr
<br /> entity�inc�ud�ng Lender, �f Lender is an ins�i�ut�on whose depasits are so insur�d}�r�n an� Federal Home
<br /> I.oan Bank. Lend�r�hall appiy the Funds�n pay the Escrow Items na�ater than the t�me spec��ed under
<br /> RESPA. Lender shal�no�charge Borrov�re�r for ho�din�and app�y�ng the Funds, annually analyzing�he
<br /> escraw account, or�rerifying the Escrow It�rns, un�ess Lender pays Borrower in�erest an the Funds and
<br /> Applicab�e Law permits Lender to make such a charge. Un�ess an agr��men��s made�n writing ar
<br /> Ap�lical�I�Laur requires i��terest�o be�aid���.tl�e Fu��ds, Le��der shai�not be requ�red to pay Borrower any
<br /> in�eres�ar earnings�n the Funds. Borr�wer and Lender can agree�n wri��ng, howe�er, that in�ere�t sha�i he
<br /> paid on the Funds, Lender sha��gi�e to B�rrower, withou�charge, an annua�ac�oun�ing Qf th�Funds as
<br /> required by RESPA.
<br /> Zf there�s a surplus of Funds heid in escro�v, as defined under RESP�, Len�er shall account to Borrower for
<br /> the excess funds in aG�ordance with RESPA. �f th�re is a shor�age of Funds held in e5�row, as defined under
<br /> RESPA, Lender shall notify Barrowe�as requ�red by RESPA, and Borrower shall pay ta Lender the arnount
<br /> necessary to mak�up the sh�r�age in acco�rdance vv�th RESPA, but in no rn�re than �2 rnonthly paym�n�s. If
<br /> there�s a�eficxency of Funds heid in escro��v, as def n�d under RESPA, L�nder shall no�ify Bflrrower as
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<br /> Wolters KI�€wer Financial 5er�ices Page 5 oi 17
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