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2� 1 ��347� �. Applicationo#�ayments or Prviceeds.Except as expressly sta.te�otherwise in this Security Instrument or the Nate,a��paymen�s accepted and applied by Lender shat�be app�ied in the following �rder o�priority: �irst,to the Mor�gage Insuran.ce premiums to be pa�d by Lender to the Secreta.ry or the manthly charge by the Secreta.ry instead of the m�nthly mortgage insurance premiums; Second,ta any ta.xes, special assessment�, �easehold payments or ground rents, and fi�e, flood and other hazar��nsurance premiums,as required; Third,to intere�t due uncier the Note; �aurth,to amortization of the principai of the Note;and, Fi#�h,to late char�es due under the Note. Any application of payments, insurance proceeds,or Miscellaneous Procee�s to principal due under the l�ote shali not extend ar�ostpane the due�date, or change t�ie amount�of�he T'eriodic Payments. 3. Fun��for Esero�v�t�ms.Borrower sha��ga�to Lender on the day Periodic Payments are due u�.der the Note,unti�th�Note is paid�n fut�,a sum�the "Funds"�to pro�ride for pa�ment�f amounts tiue f�r: (a)�axes and assessments and ather items which can attain priority over��s Security Ins�rument as a lien or encumbrance on the Property; (b�leaseho�d payments or ground rer�ts on th�Property, �f any; (c) premiums for any and all in.s�urance x�quiret�by Lender un�er Section S;and�d)N�artgage�nsurance premiums to he paid by Lender to the Secretary or the mon�h�y charg�by the Secretary instead of the rnonthly Mortgage Insurance premiums. These iterns are ca�led"Escrow Items."At ariginat�on or at any time during the term of the Loan,Lender may requ�re that�vmmun�t�Assaciation Dues,�ees,and Assessments,if any,be escrowed�y Bvrrvwer,and such due�,fees and assessments sha�t�e an Escrow Item. Bano�ver sha11 promp�ly furnish��Lender a11 r�otices of amounts to be paid under th�s�ect�on. Borrower sha11 pay Lender the Funds for Escro�r�tems un�es�Lender wai�e�Borrower's ob��gat�on to pa�the Funds for an�or a11 Escro�Items, Lender may waive Borr��ver's obligativn to pay to Lender Funds for any or a��Escrativ Items a�any time.Any such�uaiver may pnly be�n�rriting. 7n the e�ent af such vvaiver,Borrower sha11 pay di.rectly,when and where payable,the amounts due for any Escrow Item�for which paym�nt of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment w�thin su�h time period as Lender rr�a�req�.ire, Borrov�rer's obligation�v make such payments and to prav�de receipts shai�for a11 purposes be deemed to be a c�venant and agreement contain.ed in this Security InstrumentA as the phrase "c�ve�ant and agreement" is used in Section 9.If�orrower i�obligated to pay Escraw Items�.irectly,pursuant to a�uaiver,and Borrower fails to pay the amount due for an Escrow Item,Lender may exercise its rights urxder Section 9 and pay su�h am�unt and Bono�ver sha11 then be obligated under Section�to repay ta Lender any such amount.Lender may revoke the wai�er as to any or a��Esc-ro�v I�ems at any time by a notice g�ven�n accordance with Section 14 and�upon such revv�at�on,Borrower shat�p�}�to Lender a�l Funds,and in such amounts,that are then required under this Sectron 3. Lender may, at any time, collect and hold Funds in an amaunt(a�suffcien�tv permit Lender to apply the Funds at the time speci�ed ur�der RE�PA, and(b�not to exce�d the maximum amount a��nder can require under F..ES�A. �.ender shai�estimate the amount of Funds due on the basis of current da�a and reasonab�e estimates of expenditures of future Es�ro�v Items ar otherw�s�in accordance with Applicab�e Laur. FHA peed af Tntst With MERS-NE �i3�12494 Bankers SystemsT�"" VMP� VMP4N[NE}[150fi}.04 Woiters Kluwer Ffnancia�5ervices Page 5 a��7 �#�3357�12��3 4�33 31�i �517 �;