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2� 1 ��29�3 2. Applicatianvf Payments or Prnceeds.Except as expressly stated othen�vise in�his Security Instrument or the Note,a11 payments accepted and app�ied by Lender sha11 be applied in the following order of pri�rity; First,to the Mortgage Insurance pr�miums to be paid by Lend�r to the Secre�ary or the month�y charge by the Secretary�nstead of the month�y mortgage insuranc�premiums; S�cond,to any taxes,special assessments, leasehald payments or ground re�ts,and fire, flood and o�her hazard insurance premiums,as re�uired; Third,to interest due under the Note; F��uth,to amorti�a�ion o f the princ�pa1 o f the Nate;and, Fifth,to late charges due under the Note. Any application of payments, insurance�roceeds,ar Miscellaneaus Proceeds to principal due under the Nat�shall not extend or postpon.e the due date,or change the amount,of the Periodi�Paymen�s. 3. Fundsfar Escraw ltems.Borrower shail pa�r to Lend�r on the day Per�odic Paym�nts are due under the Note,until the Note�s paid in fu11,a sum(the "Funds"}to pr�vid�for payment of amounts due for: (a)�axes and as�essments�nd oth�r i�ems�vhich can atta�n priority over this Security Ins�.rument as a lien or e�ncumbrance an the Property; �b}leaseho�d payments ar ground rents on the Progerty, if any; (c) premiums for any and alI�n.surance required by Lender under Section 5;and(d)Mortgage Insurance prem�ums to�e paid by Lender to the�ecretary ar the manthly charge by the Secr�tary instead of the monthly Mortgage Insurance premiums. These items are ca��ed"Escrovv It�ms,"At origination or at any �ime during the term af the L.oan,Lender may require�hat Community Association Dues,Fees,and Asses�ments, �f any,be escrowed�y Borrower,and such dues, fe�s and asses�ments shal�be an Escrow Item. Borr�wer shall promptly furnish to Lend�r all notices of amounts to be paid under this Sectian. Barrower sha11 pay Lender the Funds for Escrow It�ms un�ess Lender�a��es Borrower's�bligation t� pay the Funds f�r any or atl Escrow Items. L�nder ma}�vvaive Barrow�r's obligation to pay to Lender Funds for any or a11 Escrow Items at any time.Any such wai�er may anl�be in writing. Ia�he event of such waiver,B�rrow�r�ha11 pay directly,when and where�ayable,the amaunts due for any Escro�v . It�ms for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish t� Lender receipts ev�denc�ng such paymen��ithin such t�me period as Lender may requue. Borrower's ' obl�gat�vn ta make such paymen�s and to prov�de receipts shat�for a�t purposes b�de�med to be a c�venant aad agreement contained in this Security Instrument,as the phra.se"co�r�nant and agreement"is used in�ection 9. If Borr��ver xs obligat�d to pa�Es�crow I�ems directly,pursuant�o a�vaiver,and �orrower fails to p�y the amaunt due for an Escrow Item,Lender may exercise its rights un�er Sectian 9 and pay such amount and Borro�rer sha��then be obligated under Sect�on 9 to repay to Lender any such amvunt. Lender may re�ake the wai�er as to any or a11 Escr�tiv Items at any time by a natice gi�en in accordance with Se�tion 14 and,upon such revocation.,Borrower sha11 pay to Lender all Funds,and in such am.ounts,that ar��hen required under this�ection 3. Lender may, at any time, collect and hold Funds in an amount�a}suff�cient to permit Lender t�apply�he Funds at the time specified un�.er F�ESPA, and�b�not to exceed the maximum amount a lender can require under RESPA. Lender sha11�stimate the amount of Funds due on the basis of current data and reas��able e�timates of expend�tures�f future Es�row Items�r oth�rwis�in accordance with Applicab�e La�. FHA Deed of Trust With ARERS-NE 9l341�414 Bankers SystemsT�+� VMP� VMP4N{NE��15nfi)A4 Woiters Kluwer Financiaf Services Page 5 of 9 7 q�335528$8fi5 �233 33� �517