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� 2� 1 ��2828 � �. ' Applicati�vnof P�yments or Proceeds.Except as otherwise descr�bed in this Secti�n 2, a11 payrnents accepted and appli�d by Lender shall b�applied in the fol�ovving order of priorit�: �a}i�terest due und�r the Note;�b)principal due under the Nate;(c�amaunts due under Sec�i�n 3. Such payments shall be applied t� � each P�r�odic Payment in the order�n tivhich it be�ame due.An�remaining amounts shall be applied fust ta ; Iate charg�s,second to any other amounts due und�r this Security Ins�rument,and then to reduce the � principal balanc�of the N�t�. � If Lender recei�es a payment from$orrav��r for a de�inquent Perradic�aymeat�vhYch inc�udes a suf�cien� arrYvunt ta pay any late charge due,the payment may be appli�d to the delinquent payment and the late � charge. If more than one Periodi�Payment is outstanding,Lender may appl�any payme�t recei�ed from Borra�ver to the repayment of the Periodic Pa}rments if,and to the�xt�nt that, each payment can be paid in � fu�l. To the extent that any exce�s exists a�er the paym�nt is�pplied�o the full payment of one or more periodic P�ym�nts, such excess may be applied to any late charg�s due.Voluntar�r prepayments sha11 be , applied first to any prepayment Gharges and then as described in the N�te. � Aay applicat�on of payments,in.surance praceeds,or Miscellaneous Procee�s to principal due u�nder the Note � shall not extend or pastpon�the due da�e,ar�hange the amount,of the�eriodic�ayments. �. Fundsf�r Escrr�w ftems.Borrovver shall pay t�Lender on the day Periodic Payments are due under the �T��e,un��the I�Tote i�paid in�fu��,a surr2(the "Fund�"}to pro��for payment of amvun�s due for; �a}taxes and assessments and other items whi�h can attain priority over this Security Instrument a�a lien or ' encumbrance on the Prap�rty; (b}leasehold payments or ground rents�n the Property, if�ny; �c}premiums � for any and a�t insurance required b�r Lender under Section 5;and�d)Mortgage Ins�.rance p�em�ums, i�an�, � or any sums payalale b�Bvrr�wer ta Lender in lieu of the pa�ment of Mortgage Insurance premiums in : accordance with the pro�isions of 5ect�an �Q.These items are called"Escro�Items."At arigina�ion or a� � any time during the term vf the Loan,Lender may requvre�ha��ommunity Assc�ciatio�Dues, Fees,and Assessments, if an�,be escrawed b�Borro�ver,and�uch due�,fees ar�d assessments sha11 be an Escro�r Item.Borrower�ha11 promptly furnish to Lender all notices of amounts to be paid under this Section. Bflrrower shall pay Lender th�Funds for Escro�v It�ms unless Lender vcraives Barrotiver's ob�igation ta pay the Funds for any or all Escrovv Items. Lender rnay vvai�re Borrower's obligatian to pay to Lender Funds for any or a11 Escrotiv Items at any time.Any such waiver may o�1y b�in writing. In the event�f such waiver, �orrower sha11 pay direct�y,when and where payabl�,the amounts due far any Escro�v Items for which � payment�f Fund�has been waived by Lender a�n.d, if Lender requues, sha11 furnish�v Lender receipts � ' e��denc�ng such p�yxnent��th�n such��me per�od as Lender may requir�.Borr��ver's obligation to ma.i�e su�h paym�nts and to provide receipts shall for a11 purpo�es be deemed ta be a cov�nan.t aad agreement c�ntained in this Security Instrument,as the phrase"cov�nant and agre�ment" is used in Section 9. If �3�rrower is obtigat�d tv pay�scrv�v Iter�as direct�y,pursuant to a�a�ver,and Bar�ro�v�r�a��s to pa�the amaunt due for an Escrow Itern,Lender may exercise its r�ghts under Sec�ion 9 and pay such amount and ' �ono�er shall then be abligated under Section 9 to repay to Lender any such amount. Lender may r�voke � the wai�ex as to any or a�1 Escrow�tems at any time by a no�ic�given in accordance wi.th Sect��n I S and, upon such revocati�n,F3onawer sha11 pay ta Lenc�er a11 Funds,and in such amounts,t�at are th�n required � under this Section 3. Lender may,a�any�ime,co�lect and hold Funds in an amount(a}sufficient ta permit Lender#o apply the ' Funds at the time specified under RESPA,and�b�not to exceed the�aximum amount a lender Gan require under�SPA. �.ender sha��es�ima�te the amount of�unds due�n.the basYs of cu�ent data and rea��nab�e estimates of expenditures af future Escrow Items or otherwise in accardance vvith Applicable Law. N 8RAS1{A-Single Family-Fannie MaelFr�die Mac 11NIF�RM 1NSTRUMENT WITH MERS Fornn 3fl28'llfl1 V P� VMPfiA(IdE}(43flZ).�4 Vll�lt�rs Kluwer Fir�anGiai Se�vi�es Page 5 of�7 � � I � qi�33554a83GZ t7�33 �1� Q51�