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. ��15��1 � 5
<br /> 2. Applic�tionvf Payments or Procee�ls.Except as atherwise described ia this Section 2, a11 payments
<br /> accepted and applied by Len�er sh�l�be��plied in the f�1low�ng order af priorit�;�a}interes�due under the
<br /> No�e;���principal�u�und�r the�ote;(c)amoumts due under�e�tion 3, Such payments�hall be applxed t4
<br /> each Peri�dic Paytr�ent ua th��rde�in which i���cam�du�.Any r�mai�xing amoun�s sha��be applied fvrst t�
<br /> late charges,second to an.y�ather amaunts�ue und�r th�s Security Ins�ru��n�, and#h�a to r�duce the
<br /> principal�al�nce af the Nate.
<br /> If Lender recei�es a payrnent f�am�3orro�r��for a delinquea��Per�adic�'ay�aaent�rh�ch inc�udes a suffici�nt
<br /> anlount to pa�any la�e c�arg�due,t��p�ym�nt ma}�l�e applied ta th�d�linquent payment and the la��
<br /> charge.If more than an�Feri�dic Fayment is�utstand�ng,L�nder m�a.y�pp1�r an�payrne�.t recei�ed from
<br /> Borro�er to the r�pa�me��t��'th�p�ri��ie�a�ments if,�nc��v�he����nt that,�acb p�.y��n�c����paid in
<br /> f���.To the extent that a�ny��c�ss exists a��r t�.e p�ymen��s app�i��tv t�a�fi,�11�ayment of��ae or more
<br /> Ferivd�c F�yment�,such exce��may be ap�l�e�to a�n�1a�e charge�d�e.V�luntary�r�payrnents s�aal�b�
<br /> applied first to any prepa�rm�nt char�e��nd the��s c����rrb�d in the�flte.
<br /> �.ny appl�cation a�payrrients,i�su�ance prt�c�eds,�r l�is�cell�ne�t�s 1'roceeds t�prinGipal due under the N�te
<br /> shall not exter�d ar p��tpoae���du��iate,�r��i��.��the a�m�unt,�f�t�.�I'eriodic Pa��n.en�s.
<br /> 3. Fundsfc�r E��raw ftem��Borrfl�v�r shall pa�y to Lent�er on the day�eriodx�P�yrflent�are due under the
<br /> �Tote,until the Nvt�is paid xn full,a suzx�(the "Funds"}t�prav�d���r payment�f amounts due for: (a}ta.xes
<br /> �nd asses�ments and other i�ems whi�e�c�n a�.in priorit�ov�r th�s Security�nstru.ment as a lien or
<br /> encumbrance on the Pr�perty;(�a�lea��hald paym,�nts or ground re�ts on the Praperty, if a�.y; �c}premiums
<br /> far any and a�1 in�uranc�r��uiured by L�r�der under Sectian 5;and�d)Mortgage Insurance pr�miums,�f any,
<br /> vr an�r sums�a�able�y Borrower ta Lender in lieu of the payment of Mortgag��nsurance premiums in
<br /> accordance with the provisions af Section �4, T�ese items are�a��ed"Escrovsr Items,"At origination or at
<br /> any time during the terr�of the LQa�,L�nder�x�.ay re�ui.r�that�omn�,�nity As�oc�ation�,ies,Fees,and
<br /> Assessments,if any,�e escrow�d by Barrow�r,��d�u��.dues,f�es arad assess�nents�hall be an Escrow
<br /> Item.B�rrower shall pr�mpt�}�furnish to Leader a11 natice�of arnounts tc�be paid under this Sec��on,
<br /> �orro�er shall pay Lender the Fu�.ds fox Escrow�tems un�less Ler�d�r r�v�i�es�arrower's o�ligatian t4 pay
<br /> th�Fund�far an�of a11 E��row�t�ms�, Lender may waive Borr�wer's ob�igation to pay ta Lender Funds for
<br /> any or�.1�Eserow Items a�any time..A.ny�uch wai�er may onI}�b�in v�i��ng. �n the�vent�f sueh waiver,
<br /> Borrower shall pa�d�rectly,vu���a�d�h�r���yabl�,the amoun.�s dt�e����.ny�scrow Items�or�hich
<br /> paym�nt of Funds has be�n waiv�d by L�nder�nd, �f�,�nder re�u�r�s, sl�all fur�i�h to�emder�e�eipts
<br /> evidencin�such paym�n�vvithin sttch tir�e�e��od a�L��nd�r ma�requi.re. �orr���r's obligation ta mak�
<br /> such paym�nts and to provide r�c�ipts sh���f�r a11 purp���s be d�en�ed ta be a coven.a�.nt�nd agreement
<br /> cantaine�in�his�ecur�ty�ns�rum��.t,as th�phra�e"cov��ant and ag�r�e��n�"is used�n�ection�. �f
<br /> B�rrawer i$�bligated t4��.�Escr�w Ite�r��di�e�tly,gursuant to a wai�r��-,and Barrower fails to pay the
<br /> amount du�for an��cra�I��n�,Le�a��r ma�y e�erci��its r��h�s unde�Sect�on 9 and pay s�cl��maunt and
<br /> B�rtow�r shall th�n b�ob�i�ated und�r SeG���n�t�repay t�L�nder any such am�unt.L��nder may revQk�
<br /> the waiuer as to any or all Es�r��uv�ten�s at any�ir�e by a na�tice giu�n in accvrdance with Se�ti4n 15 a�d,
<br /> upon su�h rev�cation� �arrow���hall pay to L�nder�II F�nds,and in su�h amount5,that are t�en r�9uix�d
<br /> unde�this Sect�on 3.
<br /> i►ende�r may,at a�.y time,collect ar�d hold Fua�ds in an amoun�(a)suf�'�ci��t to permit I.ender to app1�the
<br /> Funds at t�.e time spe�ified ur�der RE�PA,a�d�b�nat to��ceed the maximum�m�unt�lender can require
<br /> under RESPA. Lend�r sh�.xl e�timat�th�a�c�un�af Funds�iue an the b�sis of curre�.t data and reasona���
<br /> estimates of expenditures of fia�ture Esc��w Iterns nr other�ise in acc�rd�nce with App�i�ab�e Law.
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