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��l 5�71 73
<br /> Any app�ication of payments, �nsurance procee�s, ar M�sce��ane�us Prace�ds�o princ�pa� du�under th�N�te
<br /> shall not extend ar pastpone the due dat�, or�hange�he am�unt, af�h�Pe�r��dic Paym�nts.
<br /> 3. Funds for Escrow I�ems. B�rrower sha��pa�ta Lender an�he da�Period�c Paym.ents are due under�he
<br /> N�tey un�il the No�e is paid�n ful�, a sum�the "Funds"�to provide for payrnent of amount�due for; (a��axes
<br /> a��d asses�ments and�ther iterns wh�ch�an a�tain pr�ority o�er this Secu�rx�y�nstrument as a l�en or
<br /> encumbrance an�he Proper�y; �b}�easehold pa�ments�r ground ren��an�he Property, if an�r; (c}pr�rn�ums
<br /> for a��y a��d al�insurance required by Lender und�r Sec�i�n 5; and (d}Mort�age Insurance pr�xn�ums, �f an�,
<br /> �r any sums pa�abie by Borrovver�.o Le�der in lieu of the payment of M�rtgage Insurance pr�miums in
<br /> accordance with�he pravisions of Sec��on I.�. Th�se�tems are ca��ed "Escraw I�erns." At orig�natxan�r at
<br /> any�ime during the�erm of the Laan, Lender may require that�ommuni��Association I7u�s, F�es, and
<br /> Assessments, �f any, be escrov�red by B�rrawer, and such dues, fees and assessments sha��l�e an Escrov�
<br /> Item, Borrov�►�er sha��promp��y furnish to Lender aIl na�xces of amounts to b�paid under th�s Sec�ion.
<br /> Borrawer sha��pay Lender�he Funds for Escraw�tems unless Lender waives Barrower's o�Iiga�ion to pay
<br /> the Funds for any or all Escro�r Z�ems. Lender may waive Borr�wer's�bXiga�ion�o pay to Lender�unds for
<br /> any or a�l Es�row �t�ms a�any t�me. Any such waiver may only�e�n wr��ing. In�he e�ent af�uch wai�er,
<br /> Barrower sha��pay dir�ctly, when and where payab�e, th�am�unts du�for any Escraw�tems for wh��h
<br /> pa�ment of Funds has been wa�ved b�Lend�r and, if Lender requxres, sha��furnish�a Lend�r receip�s
<br /> �videncing such payment within su�h time period as L�nder may require. Borro�er's abligatian ta make
<br /> such payments and to provide receipts shall for all purposes�be de�med to be a covenant and a�reement
<br /> �ontained in this Security Instrument, as the phrase "�avenan�and agreement" �s used xn S�ction 9. �f
<br /> Barro�er�s abl�gated t�pay Es�ro� ��erns d�r����y, pursuant to a vvaiver, and Borrawer fails t�pa��he
<br /> am�un�due for an Escrow �tem, Lender may e�er�is�i�s r��hts under Section 9 and pay such arnoun�and
<br /> Borrawer sha11�hen be ot�l�ga�ed und�r Section 9 t�repay�o Lender an�r sv��h amoun�. Lender may revoke
<br /> �he waxver as to any or all Escrow�tems a�any t�m.e by a no�ice g��en in ace�rdanc�w�th 5ec��on �5 and,
<br /> up�n su�h reva�a�ion, Barrawer shall pa�t�Lender all Funds, and�n such amounts, �h.at are then required
<br /> under this Section 3,
<br /> Lender ma�, at any time, collec�and h�id Funds in an amaunt�a) suff�cient��p�r�n.x�L.�nder to app�y the
<br /> Funds at�he�ime specxfxed under RESPA, and�b}nat to exceed�he maximum amount a lender can require
<br /> under RESPA. Lender shall�stimate�he arnount of Funds due on�he basis of�urrent data and reasanabl�
<br /> est�mates of e�pend�tures of future�scr�w I�ems ar�therv�ise�n accordance u�ith A�pli�able Lavv.
<br /> The Funds sha�l�e he�d�n an insti�u�i�n whase depos�ts are insur�d by a federa�agen�y, ins�rumen�al�ty, or
<br /> entity(including Lender, if I�ender is an�nst�tuti�n whose depas�ts ar�so insured} or in a���Federa��ome
<br /> Loan Bank, Lcndcr shall appXy th�Funds ta pa��he Escrow �terns no �ater than�he tirne sp�cifi�d under
<br /> RESPA. Lfender shall not charge Barrower for h�iding and app�ying�he Funds, annua���a.nalyzing�he
<br /> escrow accoun�, or�erify�ng the Escrow Items y un�ess Lender pays Borrawer interes�on#he Funds and
<br /> App��cable Lav�permits Lender to make such a charge. Un�ess an agreement is made�n writing or
<br /> App��ca���Law requ�r�s in�crest to b�pa�d an the Funds, Lender shaii naf be required to pay Borr�wer an�
<br /> in��rest ar earnings an the Funds. Borravv�r and Lender can agree in writing,hawever, �.ha�interest sha�I�e
<br /> paid on the Funds. Lender shall give to Barrow�r, withau�charge, an annuai a�countin�of the Funds as
<br /> requ�red by RESPA.
<br /> If th�re is a�u�-plus of Funds held�n�scrow, as defined under RESPA, Lender sha��acc�unt�a Barrawer far
<br /> �e excess funds �n accordan�e wi�h R.ESPA. If fiher��s a shortage af Funds held�n escrow, as de�ned under
<br /> RESPA, Lender 5ha11 no�ify Borr�wer as required b�RESPA, and Borrow�r sha11 pay�a Lender the amoun�
<br /> necessary to make up the shar�age in accordance with RESPA, bu��n n�m�r�than I�man�hl�paymen�s. �f
<br /> there is a def�cienc�of Funds heid in e�crow, as def�n�d under R�SPA, Lender shal�notify�3�rrower as
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<br /> Woi�ers Kluwer�ir�anciaf 5er�ices Page 5 of 17
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