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��1 5��748 2. Ap��icatr�n �f Payments or Pro�eed�, Except as expressly sta�ed otherwise�i.n this 5e�urity Tns�rum�n�ar the N�t�, all payments accepted and applied by Lender shal�b�appli�d in�he fn��awing �rd�r of priority: First, to the M�r�gage Insurance premiums to be paid hy Lender to the 5ecretary�r�h�monthly charg�by the 5ecretary inst�ad of the m�nthl�mortgage insurance premiums; Se�an�, �o any taxes, specia�assessments, leasehold payments�r gr�und rents, and f�re, fl��d anc� other ha.2ard insuran�e premiums, as r�qu�.red; Third, to inter�st due under the I�a�e; Fourth, �o amarti�a�ion of�he principa�of�he Nate; and, F�fth, tv lat�charges due under the Nnte. An�applica�ion af payrnents, insurance proceeds, or Mis�ellaneous Proceeds�a priva�cipal due under the ��e shall not e�tend or postpane the due da�e, or change the am�un�, of the Perindic Paymen�s. 3. Fund�for Escraw ltems. Borrower sha�l pay ta L�nder on the day P�riodic Payments are due u.nder the Note, until�he l��te is paid%n ful1, a sum�the"Funds"}to pro�ide f�r pa�ment�f amoun�s du�far: �a�ta�es and assessments and v�her i�ems which can attain pri.or�ty over this Security Instrument as a li�n or�Ilcum.brance on th�Pr�perty; (b}leaseh�ld paym�nts flr graund rents an the Proper�y, if auy; �c} premiums for any and all insurance required by Lender under 5�ct�an 5; a.nd�d�Mor�gag�Insurance �rem�ums ta he paid by Lender�o the Secretary or the mon�hly charge by the 5e�re�ary i.nstead of the manthly M�rtgage Insurance premiums. T`hese items are called"Escrow I�ems." At origination ar at any t�me during the�erm�f the Loan, Lender ma�require that�ommunity Associa�ivn Dues, Fees, and Assessments, xf any, be escraw�d by Borrower, and su�h dues, fees and ass�ssmen�s sha�l be an Escro� Item. Barrower shall prompt��furnish to Lender a11 nu��es of amounts�a be paid under th�s 5ectio�. Borr�w�r shall pay Lender�he Funds for Escrow Items unless Lender waives B�rrovver's obl�gation�o pa�the Funds for any or a11 Escro�v Items. L�nder may wai�re Barrower's obliga�ion to pay to Lender Funds for any or al1 Escraw��ems a�any time. Any such waiver may anl�be in writu�g. In the event of such�aiver, Borrower sha11 pay directly, �rhen and vvhere payahle, the amounts due fvr an�Escro�v ��ems fflr which payment uf Funds has been waived hy Lender and, if L�nder requires, shall furnish to Lender receipts e�idenc�.ng suGh payment within su�h time period as Lend�r may require. Barr�v�rer's abliaatian t�make such payxnents and�o pravide receipts shall for al�purp�ses be deemed t�be a covenant and agreement c�nta�ned in�his�ecurity Instrument, as th�phrase "�ovenant and agree�nent" is used in Section 9. �f Barrovv�r is nbligated t�pay Escraw Items directly, pursuant�o a wai�er, and Borrower fails to pay the amaunt due for an Escrow It�m, Lender ma�exercis�its r�ghts under Section� and pay such amaun�and B�rrawer shall then l�e obligated under Se�t�on 9�o repay�a Lend�r any such amount. Lender may reWal�e the wai�er as ta any ar ail Escrow Items a�any ti_me�y a notice given in accordance with Section 14 and, up�n su�h re�ocati�n, B�rrower shall pay t�Lender alI Funds, and in such amounts, that are then required under�his 5ectian 3. Lender ma�, at�ny time, c�llect and hold Funds in an am�unt[a}sufficien��a permi�Lender��apply�he F unds at�he time spe�ified under RE SPA, and�b�not to exce�d the maximum amaunt a lender cau r�quir� under RESPA. Lender shall es�imate t.h.e a�aount flf Funds due on the basis of�urr�n�data and reasona�le estuna��s of expenditures of future Es�rovv Items �r otherv�ise�.n accordan�e with App�i�able Law. ��15-274'l 5�3 1�0�4970��12497729 8166 FHA��d of Trust Wit h M�R5-NE g��`� Bankers Systems7�� VMP C�J VMP4N�NE�[15��] Walters ICluw er Fnancial 5ervic�s g1�4I��15 2:33 PM Page 5 af 17