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2� 15�7�58 2. Appl�cat�onof Payments or Proceeds.Except as expressly stated otherwise in th�s Security Instrum�nt or the Note,all payments accepted and app�i�d by Lend�r shal�be applied in the following order of priority: First,to the Mortgage�ns�.rance premiums to be paid by Lender to the Secretary or the monthly charge by the Secretary instead of the monthly mortgage insurance premiums; Second,��an�r�taxes,spe�ial assessments,leasehold payn�ents oi gr�und rents, a�d fire, �.�od and other ha�ard insurance premiums,as required; Third,to interest due under the l�ote; Fourth,ta amort�zation of the principal af the Note;and, Fifth,to lat�charges due under the Note. An�app�icatian of payme�.ts,insurance proceeds, or N.[iscellan�ous Proceeds to pr�ncipa�due under the Note shall not exte�d or pos�pone the due date,or change the�n�o�ant,o�the Periodic Payments. 3. Fundsfor Escrow ltems.$ortovver$hall pay tc�Lender on the day PeriodiG P�.yments are due under the Note,until the Note is paid in full,a sum�the "FundS"}to provide for payment�f amaunts due for: �a�ta.xes and assessments an�1 other itern�which can atta�n priarity over�his S�curity Instrum�nt as a�ien or�n�un�bran�e on the Prope�; �b}�easeho�d pa��ts or ground ren�s on the prvperty, if any; �c� premium�for any and all�nsurance required by Lex�de�under Section 5;and�d}ll�ortgage Insurance premiums to be paid by Lender ta the Secretary or the monthly charge by the Secretary instead of the month�y Mortgage Insurance premiums. These items are called"Escrow Items."At�r�ginatioa or at any t�me during the term of the Loan,Lender may require that Commu�ity Association Dues, Fees,a�d Assessments, �f any,be escrowed by Barro�er,and such dues, fees and assessments shat�be an Escr�w Item. Borrower sha11 promptiy fumish to Lender all notrces af amounts to be paid under th�s Se�tion. Banotiver sha�l pay Le�der the Funds for E�craw It�ms untess Lender waives Borro�er's ob�i�ation�o pay the Fun.ds for any or all Escrow I�ems. L�nder may waive�orro�ver's obliga�ion to pay to Lender Funds fqr any or a11 Escrow Iterns�t an�time.An�s�c'h v�ai�er may�on��be�n�riti�g. In.the event af such tivai�er,Borrovver shall pay dir�ctly,�vhen and�rhere payable,the a�ounts du.e for any Escrov� Items for�vhich pa�ment of Funds has been wai�ed by Lender and,if Lender requires,sha��furnish to Lender receipts evidenc�ng such payment Within�uch time period as Lender may requ�.re. Borrower's obligation to make such payments and to provide receip�s shalY for alI purposes be deemed ta be a co�enant and agreement contained in this Securi�r Instrument,as the phrase ''covenant an�agr�ement" is us�d in Section 9.If�orrawer is obliga�ed to pay Escro�r Items directly,pursuant to a�vaz�er, and Barrower faiis to pay the amount due for an Escro�v Item,�,ender ma�exercise its r�gh�ts und�r Sectian 9 and pa�su�h amount and Ba�-rov�er sha��then be ob�igated under Sec�ion 9 i��re�ay to Lender any such amour�t, Lender m�.y revoke th��a��rer as to any�r a��Escro�Iterx�s at any t�rne by a notic e g��en i� accordance with Sectian 14 and,u�on such revocation,�orrower s#�all pay to Lender all F�nds, a�nd in su�h amounts,that are then requued under this Section 3. Lend�r ma�, at an��ime,collect and hold Funds in an axnount�a}sufficient ta p�rmit Lender to apply the Funds at the time speczfied under RESPA., and(b�x�ot to e�ceed the maximum amount a lender can require under RESPA. Lender sha11 estimate the amount af Funds due Q�the�asi�vf current data and reasonable estimates of exp�nditures of future Escro�Items or otherwise in accordance with Agp�icab�e Law. FHA Qeed of Trust With MERS-NE 9I3012414 Bankers Systems'�+ VMP� 1llUlP4N�NE]�"l506}.�0 Wolters Kluwer Finar�cial Services Page 5 of 1� q0334�36684D Q233 424 �517