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2� 15�8775 2. Applicationof Payments or Proceeds.Except as exp�essl�s�a�ed oth�rv�ise in this Security Instrument or the Nate,al�pa�ments acc�pted and appiied by Len�ler sha�i be applied in the foliawing order af priority: First,to th�Mpr�gage Insuran.ce premiums to be paid by Lender to�he Secre�ary ar the month�� �harge by the Secretary instead af the monthly rrlortgage insurance prem�ums; Second,to any ta�es,speeial a��essments, �easeho�d payments or ground rent�,and fire,flaod and other ha�ard insurance premr�.r�s,as ret�uired; Third,to interest due under the I�ot�; Fourth,to arnorti�a�ion of the principa��f th�Note;and, Fif�h,to late charges due under the No�e. Any app�icat�on of payments, insurance pro�eeds,or Vfisce�ianeous Proceeds to prinGipal due under the ��te�hall not ext�nd ar postpone the due date,�r change the amount,of the P�riodic Payments. 3. Fundsfor Escrvw Items.Borrower sha�l pay to Lender on the day Feri�dic Faym�nts ar�du�under the Note,until th�Note is paid in futl,a sum�the "Funds")to pravide for paym�r�t vf amounts due for; (a)ta�e�and assessments and other items�vhi�h can attain priority o�r�r this S�curity In��ument as a lien or encumbrance an the Prope�y;(b}leasehald payments or graund rents�n th.e Pr�pert�r,if an�;��} premiums for any and alI�nsuranc�r�quired by L�nder under S�ctian 5;and�d}Mor�gag��nsuranc� premium�t��paid by Lender to the S�cretary nr the monthly c�iarge by th�Secr�tar�instead�of th.e monthty Mortgage Insurance pcemiums.These ite�ns are ca��ed"Escr��Ite�ns."At origination or at any time durxng the term of the Loan,Lender may r�c}ui�e that Communit�Association Dues,Fee�,and Assessments, if any,be escrQwed b�Borro�ver,and such dues,fees and assessments shall be an Escr��v Item,Borrower sh�.��pra��t�y furnish to Lende�all notices of amounts to be paid.under this Sect�on. Barr�w�r shali pay Len�er the Funds for Escro�r It�ms unl�ss Lender waives Borfower's obligation to pay the Fun�i�far any or al�Escra�Items. L�n�ier ma�v�aive Borra�e�''s obligation t�pay t�Lend�r Funds far any or a��Escrotiv I�ems at any tirne.Any�uch u��i�er ma�only be in writing. In the event of su�h�a��r�r,Borrow�r sh��I pa�direc�:ly,�rhen and where paya�b�e,the am�unts due�or any Escroti� �tems#`or�vhxch payrrient of Funds�aas been wai�ed by Lender and,if Len�er requir�s, shall furni�h ta Lender�eceipts e�iden�ing such payn-��nt�uithi�n such�ime per�od as Lender may require. Borrower's obiigation tQ make such pa�ments and�o pravide receipts sha1�for a1i purposes be deemed t�be a c�venant and agreement co�n�ained in this Securit�Tnstrum�nt,as the phrase"cavenant and agr�ement" is used in.5ection 9. �f Borro�er i�obligated to pay�scr�tiv Items directly,pursuant to a w�.iver,and �orroti�er fails to pay the amount due for an Escrov�Item, Lender rnay exercise�ts rights under Section 9 and pay such arriou�t and Bonower shall then be obligated under Section�to repay ta Lender any such amount. Lender may revoke the tivaiver as ta any or all Escro�v�tems at any time by a notice given in accordance�vith Section �4 and,upon such revocatio�,Barro�ver s�.a11 pay ta Lender a11 Funds, and in such am�unts,that are then re�uired und�r this Section 3. Le�,der may, at any time, ca�lect and hald Funds in an amount[a�suffici�nt to permit Lender to a�ply the Funds at the time specified under RESPA, and�b}not to ex�eed the maximum amount a�en�er can re�u�re under RESPA. Lender shal�estimate the amount of Fund�due an the basis af�urrent da�ta and reasonable estimates of expend�tures of future Escro�v Items or otherwis�in accord�.n�e�vith App�icable La�v. FHA❑�ed of Trust With MERS-NE 913�f2014 Bankers Systems� VMP� VMP4N(IVE)�15DB)_OQ Wolters K�uwer Financial Servi�es Page 5 of i7 q�33484��57� ��33 �'S9 �517