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<br /> An a li�ation of payments, insurance pr�ceeds, or Miscellaneous Pro��eds to prin�ipal due under the Nate
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<br /> sha11 n�t extend vr postpane the due date, ar�hange the amaunt, of the Pe�riodic Payments.
<br /> 3. Funcis fnr Es�row Items. Borrower sha,�l pa�ta Lender on the day Period.ic Payrnents ax'e due under the
<br /> Note, until the Note is paid in full, a sum(the"Funds"}to provide for payment vf amounts due far: (a}taxes
<br /> and assessments and othe�'items whi�h can attain priority a�er this S�curity Instrument as a lien or
<br /> encumbrance on the Property; �b}leaseho�d payments or ground rents on the Property, if any, C�)premiums
<br /> for an and a11 in.surance requu'ed by Lender under Section 5; and�d}Mortgage Insurance premiums, if anY�
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<br /> or an sums payable by Barrower to Lender in lieu�f the payment af Mortgage Insurance premiums in
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<br /> accordance with the provisions of Se�ion 1 U. These items are cal�ed"Escrow Items." At origination or at
<br /> an time durin the term of the Loan, Lender may require that�ommunity Association Dues, F ees, and
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<br /> Assessments, if any, be escrowed by Ba�rovver, and su�h dues, fees and assessmen�s sha11 be an Escraw
<br /> Item. Borr�wer shall promptly fizrnish to Lender a11 motices of amounts ta be paid under this 5ection.
<br /> Barrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay
<br /> the Funds f�r an �r all Escrow Items. Lender'may'waYye BOrrower's obligation ta pay to Lender Funds far
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<br /> an or all Escrow Items at any time. Any such waiver may vnly be i.n writing. In the event af such waiver,
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<br /> Borrower sha11 pay direct�y, when and where payab�e, the amounts due for any Escrow Items for which
<br /> a ent of Funds has been waived by Lender and, if Lender requires, shall furnish to L�nder receipts
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<br /> evidencin su�h payment wit�in such t�me period as Lender may require. Borrower's obligation to make
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<br /> such a ents and to pravide receipts shall for a��purposes be deemed to be a covenant and agreement
<br /> p � • • "�ovenant and a �e�me�nt" is used in S�tivn 9. If
<br /> cvntavaed 1n th�s Seccur�ty Instrument, as the phrase gz
<br /> Borrower is obli ated to pay Escrow Items directly, pu�'suant to a w�i�er, and Bar�'oweT fails to pay the
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<br /> amount due for an Escrow Item, Lender may exercise its righ�s undeY'Seeti.on 9 and pay such amount and
<br /> Barrower shall then be ob�igat�d under Section 9 tv repay to L�nder any such am�unt. Lender m,ay revake
<br /> the waiver as ta an �r aI1 Escrow Items at any time by a noti�ce gi�en in accordance with S�tion �5 and,
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<br /> u on such revocation, Borrower sha11 pay to Lender a11 Fur�d�s, and in such amvunts, that are then required
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<br /> under this Sect�on 3.
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<br /> Lender ma at an time, collect and ho�d Funds in an amount(a}su.ff�cient to pennit Lender to apply the
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<br /> Funds at the�ime ecified under RESPA, and�b)n�t tv exceed the maximum amount a lender can require
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<br /> under RESPA. Lend�r shall es�imate the amount of Funds due on the basis of current data aud reasonable
<br /> estimates of expenditur'es of future Escrow Items or atherwise in.accordanee with Applicable Law.
<br /> The Funds shall be he�d in an institution whose de�asits are insured by a fede�ral agency, instrumentality, or
<br /> enti inc�udin Len.der, if Lender is an institution whose deposits are sa ix�sured)or 1n any F ecleral Home
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<br /> Loan Bank. Lender sha11 apply the Funds ta pay the Escrow Items no later than the time specified under
<br /> RE SPA. Lender shall not charge Bvrrowe�r f��holding and applying the F unds, annually an.alyzing the
<br /> escraw accoun�, ar verifying the Es�row Items, unless Lender pay�Borrower�terest on the Fun.ds and
<br /> A Iicable Law perr�uts Lender to make su�h a charge. Un�ess an agreement is made in writing or
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<br /> A Iicable Law requires interest to be paid on the Funds, Lender shal�not be required to pay Borrower ax�y
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<br /> interest or earnin s on the Funds. Barrower and L�nder can agree in writing, however, that interest shall be
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<br /> aid an the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as
<br /> required by RESPA.
<br /> If there is a s lus af Funds held in escrow, as defined under RESPA, Lender shall account to Barrower for
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<br /> the excess funds in accordance wi�h RESPA. If there is a shortage of Funds held in escrow, as defined under
<br /> RESPA Lender sha11 notify Borrower as required by RESPA, and Barrower shall pay to Lender t�e amflunt
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<br /> nECe55 to make the shortage in ac��rdance with RESPA, but in no more than 12 monthly payments. I
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<br /> there is a deficiency of Funds held in escraw, as defined under RESPA, Lender shall notify Barrow�r as
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