2� 1 ��4�38
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<br /> L�AN #: 16�5USF��2��8
<br /> ' E3��rnwer m�gi��hav� na�rv or in �h�fu�ure aga�r��� Lender�haf� r�lieve Barra�re�fr�rr� making p��nnent�
<br /> due un�er�he �ote �n� thi� Security �nst�umen�or�erForming the covenar��s and agre��nen�� s�cur��
<br /> by th is�eGu ri�� I ns�ru ment.
<br /> �. �4pp������o� �f Paym��f� �r P��ceet�s. Excepf as o�n����� describ�d in �ni� �ec�ion �, ali
<br /> �Oaymen�s ac�e��e� an� a�pl��d by Len�er s���� b� ap�lied in fihe�al���nr�n� �rd�r❑f priori�}�:
<br /> First, �v the i''�llortgag� In��ranc� premium�� �a b� paid b� ��r�der to th� Sec�et�ry �r�h� m�n�h��
<br /> charg� by the Secre�ary ins�ead of�h� mont�ly mortgage ��sur�nc� p�-emf�m�;
<br /> ��cond, �o�ny�ax�s, �peci�l asse�smen�s, ��as�hofd paym�n��v�grQund ren�s, ar�d fire,fl�od�nd
<br /> o�her ha�ard insuran�� premium�, as r�q�ired;
<br /> T��rd, �� in�eres�due under th� Nate;
<br /> Fou�h, �o�m�rtiz�tiQn ���he pri������ af the IV�te; �nd,
<br /> Fi�t�, �o ����ch�rges d�� �nde�th� �lat�.
<br /> Any appli�a�io��f payme��s, ir��ura��e�r�c��d�, or�is�ella���u�Pr�ac��ds�a p�incipal due und��
<br /> the �la�� �ha�l no�ex��n� �r pas�pane �h� du�e d��e, or chan�e �he amQu��, ��the Pe�i���� �ayrnen��.
<br /> �. Fund�f�r��c�ow lt�rr��. �orrovUer shall ����a Lender on �h� day per�ad�c F'a�rn�n���re �ue
<br /> under t�e IVo�e, u�til �h� N��� �s pa��d in fu�f, a sum �the"Fur�ds"} �� pra�r�de���p�ym�nt af�rnoun�s du�
<br /> far: ��}tax�s�nd a�se�smer��s a�d ��her item��rhi�h can a��ir� pr���ifi�a�er this���uri�y lnstrumen�as
<br /> a lien �r en�umbranc� on �h� �r�per��; �b} �eas�hold pa�nnent� or graun� ��r��s on fih� Prop��y, if any;
<br /> �c} pr�rniums��r an��nd ail in�urance requ�r�d by Lende�un��r��c�ion 5; �nd �d} �art��ge Ir�su��nce
<br /> pr�mium� �� be paid b� �.�nder ta the ��cre�ary or�h� mon�h�y char�� by �h� ��cr�t�� ins���d af���
<br /> month�y ��rtga�� Insur�nce �r��iums. These i�ems are c���ed "Escro� I�er�s."�.�originat�or� �r at an�
<br /> tim�e durin��he t�rm af the La��, Lend��may requir���a��ammuni��.��ocia���n Dues, Fe��,�nd�sse��-
<br /> ments, if�ny, ��escro�e� �y BQrr�wer, an� �uch du�s, f��s and asse�s�er����hal� �e an Escro�I�em.
<br /> Borro�ver s�a�! �romp�l�furnish �� L�n�er a�� nati��s of amoun���� b� p�id under��is�ec�ian. Borro��r
<br /> �h�ll pay Lend�r the Fun�s far Es�ro�i�erns unle��Lender�a�v�s E�or�ow��'s�bliga#ion�Q pa�t��Fund�
<br /> for any Qr a�i E�cr�����ms. Len��r may��ive Borro�ver's o�liga�i�n fiQ pay fio Lend�r Fund�for�n}��r a!I
<br /> Escro� I�ems a�an��irne.An�such�rai�er may on�y b� ir�v�rrit�ng. In the e�r�nt vf such�ai�er, Borroonr�r
<br /> shall pay d�reGt��, �he�and�h�r� paya�ie, the a�oun��d��far�ny E��rv�I��rn�f�r�rhich p���ent of
<br /> Funds ha�be�n�ra���d by L�nd��and, if Lend�rr��qu�r�s, sh�l�furni�h ta Len�d�rr�ceipts e�r�d�en�ing�uch
<br /> p��r�nen��ith�n �uch �im� p�ri�d a� Len�e�rr�a� require. B�rrawer's ����g��i�n t�a n�ake �uch p�yr�en�s
<br /> '�and�o provid����ei��s shall farall�urpos�s b�d��me�tv be a����nan�and ag�e�rn�nt�+�n�ained �r��his
<br /> S��urity Instrum�n�, a�th�phrase"cov��an�and agre�r�en�"is u��d in S���i�n�. lf Borro�er i�ob�iga�ed
<br /> to pay��c�a�I�ems dir���ly, p�rsuant to a�vai��r, �nd �arr���r fai�s�o pay the ar��unfi d�u�for�n Es�row
<br /> I�em, Le�de� ��� ex�rc�s� ��� r��h�s �ander S�c�ion � an� pa� ��ch �rnoun�and �arr�v���shall �hen be
<br /> obli�ate��rn�ler�ec�ro�9��repay fi�Lend�rany such�m�un�. Ler�d�rrn��r��okethev�aiver��t�a���r
<br /> all ��cr�o�r lfien�s at any t�m�b�� n�tice giver� �r� ����rdance�i�h Se��ion �4 an�, upon su�h r����c��i�n,
<br /> Barro�er shafl�ay�o Lender�II Fun��, ar�d in su�h�m�unts, ��a��r�t�en required under�his Se����r� 3.
<br /> Len�er may, a��r��ti��, �ollec�and hold Fur�ds in an arr�ounf�a}su���ien��o pe�mi�Ler�der�a appf�
<br /> ��e Funds at�he tirrie sp�cifi�d under�E�P�, �nd tb� n����excee� ��� ma�cir�nu��rnount a I��d�r car�
<br /> re�uir�un�ler F�E�F'A. Lender sh�l����ir�na�e the�maun�af Fund�du��n�h�bas�s nf curren�d��a�n�re�-
<br /> sonabl���tima���af�xp�n�i�ur�s af fu�ur�Fs�r��r���ms or�ot��rwis��n��card�nc��rvi�h Applica�l�L��rv
<br /> The Fun�s shal�be�eld���n€�s��tu�i�n whase d�posi�s are in�ured b�a f�deral agen�y, ins�r�rr�en�alW
<br /> ifi�, ar en�i�y�in�luding L�nder, �f L�nd�r i�an �ns�i�u�ion�h�s�d�p��it�are so insur�d}or in�ny F�d�ral
<br /> Home L��n Bank. Lend�r�hal�ap�ly fihe Funds��pa��i����cr�v�I��ms r�o lat�r�han�he�irn�s��cifi�d
<br /> under RESF�A. Len��r shall no�ch�rg� Borro�er��r holdi��and app��ring�he �unds, a�nually�nal���ng
<br /> t�� �scro��c�oun�, �r v��ifying the �s�cro� lt�ms, unl��� Lender p��s Borra��r int�res�on fi�� Fund�
<br /> and Appli�a��e Lavv perm�t� Lend�r�� rn�.k� su�h a ch�����. u�le�s an agre�m�n� i� ma�� i� wri�ing or
<br /> �pp�tcab�e L��requir�s intere�t to b� ��id an ��� F�rnds, Lender shall n��be r��uired to �a�r ��rrower
<br /> an� in��r����r ea�ning��n �he Fund�. B�rrav�er ar�� Lend�r can �gr�� �n v�ri�'rng, hov����r, �i�a�ir���resf
<br /> shall �� p��d �n �he Fund�. Lender shall ���e�o Barro�er, �ri�hou�ch�r�e, �r� annuai acc�un�ing vf�h�
<br /> Funds�s �equired b� RES�A.
<br /> If th�re ��a surplu�of Funds held �n escro�, as def�ned under F�E�PA, Lender s�all acc�u���o �or�
<br /> ra��r���fihe ex���s�un�s in ac�ardanc����h RESPA. ���her� is a sh�r��g�of Funds��ld ir� escr��, as
<br /> def�ned under RE�P�, L�nd�r s��l� n�ti� �arr�vver as requir�d by RESP�, and iBorr�wer�h��l �ay �a
<br /> L�nd�r�h�amo�n�ne�e�sary�o mak� up�f�e sh�rt�g� in acGo�dar����i�h RESPA, bu�ir� n� mQre�han
<br /> �� mon�hl�paymen�s. �f���re is a defi�i�r���of Fund�he�d in �sc�o�, ����fined und�r RE�PA, Lend��
<br /> shall ���i� �orro���a� require� b� RESPA, and Borrowcr���I� pay�� Lender���am�un�n�c�s��ry to
<br /> m��e up the def��i���y in accordanc��i�n RE�R�4, bu��n na mor��h�� 1� m�nth�y p��rn�n�s.
<br /> �Jpa� �aymen� �n fu�� �f a�[ sums ��cure� by fhi� Securi� I�s�ru�nenfi; L�nder shall �rompt�� r��und
<br /> �� Bv�ra�rv�r�n� Funds held �� Lend�r.
<br /> �. �harg��; L��ns. Barra��er shall pay �f[ �axes, a�sessrne�fis, �ha�gesf fir���, and imp�s�t�ans
<br /> a�rib�utab���o�he Proper��rh�ch can a��ir� pr�o�i���er�his Securi�� �ns�rument, le�s��o�d p�ymen�s�r
<br /> gro�r�d ren�s�n th�Proper�, if any, �nd�o�rr�muni��rsso��ation Du��, F��s, and Assessmer�fis, if�n�.Ta
<br /> fih�ex�ent tha�th�s�item��re������r i�ems, l�o��a��r sh�l�pay�hem in the mar�n�r pravided�n�����on 3.
<br /> R�rro�v�r shail pr�mpt�y �i��h�r�� �ny lien �r���h has pri�ri�y ��er this �ecurif� fr���r+�ment ur�l�ss
<br /> E�orrorn��r: �a}agrees in�ri�in��Q�he paym�r�t�f�h�o�ligafi��n s�cur�d b�th�lier�in a r�anr��r accep��ble
<br /> fVEBIF�a4S�C�--Single Family--Fannie��e1�r�d����lac lJhllFC3F��i!1MSTRU�IEhfT' F�rm 3��8'i1�1 . . z
<br /> Modified for FHA 91��'14�HUD Handba�k 4�OQ.�} �n�tials: � ��
<br /> Eflie Mae, �nc. Page 4 of�'i IVEEFHA��C�E �9�15
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