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2� 15�77�4
<br /> Any app��ca��on of payments, �nsurance proc�eds, a�Mzscellaneous Proceeds to princ�pal due under the N��e
<br /> sha��n��extend or postpone�he due date, or change�he amaun�, af the Periodic Paymen�s.
<br /> 3. Funds for Es�row Items. Borro�ver shal�pay to L.�nder an the da�Per�od�c Paymen�s are due under the
<br /> No�e, un�i� �he Note�s paid xn fu��, a sum�th� "Funds"}to provide for pa�rment of amounts due for: �a} �axes
<br /> and assessments and o�her i�ems v�hi�h can a��ain pri�rity o�er�his Secur��y Instrument as a lien or
<br /> en�umbrance an�he Property; �b� leasehol�.paymen�s or ground rents on the Proper�y, if any; �c�premiums
<br /> for any and a1i insurance requ�red by Lender und�r Sectian 5; and �d} Mor�gage Insurance prem.�ums, if any,
<br /> or any sums payab�e by Bflrrav�er�o Lender in lieu af the payment of Mor�gage�nsurance prem.�ums in
<br /> accordance wi�h the pr���sions af S��tion ��. These item� are ca�led "Escr�w ��ems." At arig�na�ian or at
<br /> any t�me dur�ng the t�r�m af the Loan, Lender may requir��hat�ommun��y Asso�ia��on Du�s, Fees, and
<br /> Assessmen�s, �f an�r, be escrov�►led by Borrower, and such dues, fees and assessments sha��be an Escrow
<br /> �tem. B�rrower shall promp�Iy furnish to L,ender a11 no�ices of amoun�s to be paid und�r�h�s Sectian.
<br /> Barrovver shall pay Lender th� Funds for�scr�w �t�ms unless Lender wa��es Barrovwer's obligat�on�a pay
<br /> �he Funds for an�or a11 Escrow �tems. Lender may�v�ra��e Barrawer's ob�iga��on t�pay to Lender Funds f�r
<br /> any�r ail Escr�v� Items a�any�ime. Any such wa��er ma�an��be in writing. �n the even�of such waiWery
<br /> Borrawer sha��pay d�rec�ly, when and where payable, �he amoun�s due for any Es�row Items fo�vtrhxch
<br /> payment Qf Funds has�een waived by Lender and, if Lend�r requir�s, shall furnis��o Lender receip�s
<br /> e�videncing such pa�ment vvithin such time period as Lender may require. Barrower's ob�igat�an�a make
<br /> such payments and to provide re��ipts shall far aIl purposes be deemed�o be a�avenant and agre�ment
<br /> contained in th�s 5ecurity�ns�rument, as�he phrase "cavenant and agreemen�" �s used�n Section 9. �f
<br /> Borr�wer�s obl�gated to pay Escro�r �tems directly, pursuant�a a wai�er, and Borrower faiis to pay the
<br /> amau�.t due for an Escraw �tem, Lender may exerci�e��s r�gh�s under�ec��an 9 and pay such amount and
<br /> Borrower shall then be abl�ga�ed under Sec�ion 9�� repa�to L�nder any such amount. I.ender may re�oke
<br /> the vWaiver as�o an�or all Escrow �t�ms at any t�me by a notice g��en in accordan�e with Sec�ion �.S and,
<br /> upon such revocat�an, Borrawer shai�pa�r ta L.�nder a�� Funds, and in such amoun�s, tha�are�h��a required
<br /> under this S�ct�on 3.
<br /> Lender may, a�an�time, co��ect and ho�d Funds in an arn�unt�a} suff�cien��o perm�.� Len�.er t� app�y�he
<br /> Funds a��he t�nze specified under RESPA, an�. �b}no�ta ex��ed the maximum amount a�ender can requ�re
<br /> under RESPA. Lender shall estimate the am�un�of Funds due on the basis�f current da�a and reasonab�e
<br /> estimates of expenditures�f future Es�row ��ern.s or o�heru�ise in accordanc�v�xth Appiicable Law.
<br /> The Funds s�iall be held in an�nstitu�ion whase depasits are insured by a federal agency, instrumenta�x�y, o�r
<br /> en��ty �inc�uding Lender, if Lender is an ins���ution�rhose d�pos��s a�e so �nsured�or�n an�r Federal Home
<br /> I.�an Bank. Lender sha11 apply�he Funds�o pay the Escrow �t�ms no la��r than the�ime spec�fxed under
<br /> RESPA. Lend�r sha11 not charg�Borrower f�r holding and app�ying �he Funds, annually ana��rz�ng�he
<br /> escrow accoun�, or�r�rifying�he Escravv It�ms, unl��s I�:nder pays Barrower�n�eres�on the Funds and
<br /> Applicab�e Law permi�s Lender�o make such a char�e. Unless an agreement is made in wri�ing or
<br /> Applicable Law requ�res interest�o be paid on the Funds, Lender sha��not be requir�d��pay Borrower any
<br /> �n�eres�or earn�ngs�n the Funds. Borrower and Lender can agree in wr��ing, ho�e��r, tha��nteres�shall b�
<br /> pa�d on the Funds. Lender shali gi�e to Borrov�rer, w�thout charge, an annua� acc�un�xng af the Funds as
<br /> required b� RESPA.
<br /> �f there is a�urp�u�of�unds���d�n�scrow, as defir�ed�nd�r R.ESPA, Lender sha11 account�� Borr�wer for
<br /> th�excess funds in accordanc�w��h RESPA. If th�re �s a shor�age of Funds held�n escrow, as defxne�.under
<br /> RESPA, Lender sha��n�tify Barrfl��r as required b�RESPA, and Borr�wer sha��pay�o Lend�r the amaun�
<br /> necessary�o make u��he sh�rtage�n accordance w��h RESPA, �ut �n no mare than �.2 monthiy payments. �f
<br /> �here�s a def�cx�nc�r af Funds he�d i�.escraw, as def�ned under RESPA, Len�.�r sha��no�if� Borrower as
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