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� 2� 1 ��215� 2. Ap�licationaf Payments or Proceeds.Except a�express�y stated otherwise in this Security Instxum�nt or the 1�Tote,a11 payments accept�d and apptied b�Lender shal�b�app�ied in the foliowing order o�priority: First,to the Nior�gage�nsurance premiums ta b�paid 1�y Le�.�er�o the S�cretazy or the montk�ly charge by th� Secretary instead�f the monthly mart�ag�in.surance premiums; 5econd,�o any taxes,sp�c�ai assessments, �e�.s�ha�d payrnents�r graund r�nts,and fire,f�aad and other hazard insuran�e premiums,as required; Third,to interest due under the Note; Fourth,to amorti�ation of the principa�of the Not�;and, F�fth,to�at�charges due under the Na�e. An.�application of payments,�nsuranc�pro�e�ds,or Miscellaneou�Prac�ed�to pr�n�ipal due und�r the Note shall not extend vr pastpone the due dat�,�r change the amount,of the Period�c T'ayments. 3. Fundsfa�Escrorn��tems.Borro�er shai�pay�o Lender�n the day Periodic Payments are due under the Note,until the Note is paid in full,a sum(the "Funds"}to pro��de for paym�nt of amounts due for: [a}taxes and ass��srnents and other i�err�s whic�.ca�atta�n priority over this S�curit}�Instrument as a Iien Qr encumbrance on the 13roperty;�b)leasehald p�.yments or ground ren�s on the Propert�,if any; (c� prem�ums for any and aI�insuran�e re�uir�d by Lender under Section S;and(d)Mortgage Insurance premiums to be paid by i,�nder to the Secretiary or the monthly cha.rg��y the Secretary�nstead of the monthly Mort�a�e Insuran�e premiums. These items are ca�ted"�scro�r Items."At origination or at any t�me durin,�the ter�n of the Loa�,Lender ma�requ�re that Community Associat�on Due�,�'ees,and Assessments, if any,be es�rowed by Barra�ver,and such due�, fees and assessments shall be an Escraw Item,Borr�w�r shal�prom�tly furnrsh to Leader a�1 notices o�'��oun.�s to be paid�.nder this Sect�o�n. Borrower sha��pay Lender�he Funds far Escrow Items untess Lender waives Borrower's obligation to pay th�Funds for any or a11 Escro�v Items. Lender may wa��Bo�rrower's obligation to pay to Lender F��ds fo�r an.y or a1�Esc�aw Items at any time.Any such waiver may only�e �n wr�ting. In the even�of such waiver,$orro�ver�ha11 pay c�irectly}when and where payable,t�.e amaunts due for any Escr�w Items for which payment af Funds has been�vai�ed by Lender an�i,if Lender requ�.res, sha11 fura�sh to Lender rec�ipt�evidencin�such payment w�thin such time period as Lender may requ�re. Borrower's ob�i�atian ta make such p�yments and to prvvrde receipts sha��fvr al�purposes be deemed t�be a covenaat and agreement contained in this��curi�y Instrument,as the phrase"covenan�and agreemen�"is used in 5e�tion 9, If Barrower�s ob��gated to pay Escrow Items d�.r�ctly,pursuant to a waiver,and B��rrower fails to p�.��he a��un�du�for an Escr�w��rn,Lender may exercise it�rights under 5ecti�n 9 and pa�such amount and B�rrower sha11 then be abligated under S�ction 9 to repay to Lender any�u�h amount. L�nder may revoke the vva.�ver as to any or aI1 Escro�v Items at any time by a notice given�n accardanc�tivit�Section 1�and,upon such revocation,Borr�wer sha11 pay to Lender al�Funds,and�n such amaunts,that are then r�quued under th�s Sectian 3. Lender may,at any time,cottect an.d hv�d Fu�ds�n an amount[a�suf�'icient to per�ni#L�nder ta a.pply the Funds at the time specifieti und�r RESPA, and(b�not�a exceed the maximum amount a lender can requi.re under RESPA. Lender shall estimate the am�un.t of Fu�ds due on the basis of eurrent data and reasanable estin�ates�f ex�enditur�s��f€�ture�scrov�Items or otherwise in accordance�vvith Appli�a�ale Law, FiiA[3eed nf Tru�t With MERS-NE 913Ul�fl94 Bankers Systems�"" 11MP� VMP4h1�NE}�1�}.�4 YVait�rs Kluwer Financial Sen►ices Qage 5 of 17 q4335�9�3U47 �233 3�7 �517