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<br /> phrase"co�enant and Agreement" is used in the Loan DoGuments. If I am obligated to pay Escrnw
<br /> Items directly, pursuant to a wa��er, and i fail to pay the amount due for an Escruw Item, Lender
<br /> may exercise its rights und�r the Loan Dacuments and this Agreement and pay such amount and I
<br /> shall then be vbligated to repay ta Lender any such amaunt. Lender may reWake the wa.i�er as to
<br /> any or al�Escrow Items at any time by a notice gi�en in accardance with the Loan Documents,and,
<br /> upon such re�ocation,I shall pay to Lender all Funds, and in such amaunts,that are then required
<br /> under this Sectivn 4.E.
<br /> Lender may, at any time, collect and hold Funds in an amount �a} sufficient to permi� Lender to
<br /> apply the Funds at the time specif ed under the Real Estate Seitlement Procedures Act�"RESPA"},
<br /> and (b} not ta exceed �he maximum amount a lender can require under RESPA. Lender sha11
<br /> es�imate the amount of Funds due on the bas�s of current data and reasonab�e estimates af
<br /> expenditures of future Escrow Items or oth�rwise in aecordance with applicable taw.
<br /> The Funds sha�l be held in an institutivn whvse deposits are �nsured by a federa� agency,
<br /> instrumentality, or entity �inciuding Lender, if Lender is .an institu�ion whose deposits are so
<br /> insured}or in any Federal Home Loan Bank. Lender shall apply the Funds ta pay the Escraw�tems
<br /> no later than the tim�5pecified under RESPA.Lender sha�l not cha.rge me fvr holding and applying
<br /> the Funds, annually analyzing the escrow account, or �er�fying the Escrvw Items, unless Lender
<br /> pays me interest an the Funds and applicable law permits Lender to make such a charg�.Unl�ss an
<br /> a.greement is made in writing or applicable law reyuires interest tv be paid on the FundS, Lender
<br /> shall nvt be reyuired ta pay me any interest or earnings on �he Funds. Lender and I can agree in
<br /> wrifing,hawe�er,that interest shall be pai�l on the Funds.Lender sha�l pro�ide me,without charge,
<br /> an annua�accounting of the Funds as required by RESPA.
<br /> If there is a surplus of Funds held in escrow, as defined under RESPA,Lender shall account to me
<br /> for the ex�ess funds in accflrdance with RESPA. �f#h�re is a shartage of Funds held in escrow, as
<br /> defined under RESPA,Lender shail natify me as required by RESPA,and I shall pay to Lender the
<br /> amount necessary to make up the shot�age in accordanc� with RESPA, but in no more than 12
<br /> monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA,
<br /> Lender shall notify me as required by RESPA, and I sha11 pay to Lender the amount necessary to
<br /> make up the deficiency in ac�vrdance with RESPA,but in n❑more than 1�monthly payments.
<br /> Upan payment in ful�af all sums secured by the Loan Documents,Lender shall promptiy refund to
<br /> me any Funds held by Lender.
<br /> D. If the Borrnwers balance h�s been reduced as a result af this new Agreement, it is underst�od that
<br /> adny credit life, accident and health, and in�oluntary unemployment�nsurance written in connect�vn
<br /> with this loan has been can�elled, �nd that any refund of unearned premiums ar charges made
<br /> because �f�he cancellation af such credit insurance is reflected in the amount due under this
<br /> Agr�em�nt.Ex.�epti��: �n the state af California,Lif�,A&H,and IUI insurance must be cancelled,
<br /> with refunds applied t��h�account prior to entry of the seitlement tra,nsac�ian,e�en though there is
<br /> no reduction in balan�e as part vf the settlement�
<br /> E. If th�s loan has "Monthly Add-�n Premium" Credit Life or Cr�di�Accident & Health Insurance
<br /> co�erage, it is understood and agreed that the Barrowers acceptance of this Agreement will result in
<br /> the cancetlation of the abo�e-mentioned insurances.
<br /> F. If the Borrower's home�wners insurance should lapse,Wells Fargo Home Mortgage reserves the
<br /> right to place L�nder Placed InsuranGe �LP�} an the account. If LPI is placed on the accvunt the
<br /> mvnthly payment cauid increase.AII ather terms of the modifica.tion Agreement will not be affected
<br /> by the LPI and will r�main in efFect with accordance tv this Ageemen#.
<br /> Wells Farga Custam Multistate Home A�'ordable Madification Agreement 4�Z����������
<br /> —5ingle Family 14U42fl 15_368
<br /> First American Mortgage Solutions Page 5
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