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2� 1 ��4�37 �. Appli�ati�nof Payments or Pr�ceeds.Except a�expr�ssly stated oth�rv�ise in this S�curit�r Instrument or the Note,aI1 payments accepted and app�ied b�Lender�ha1l be applied in�he following order�f priority: Fust,to the Mortgage In��rance premiums to he paid b�Lender to th�Seereta.ry or the monthly charge by the Secretary instead of the montb�ly mortgage insurance premiums; Second,to any tax�s,special ass�ssrrients, Ieasehold pa�ments or ground rents,and fue, flood and other hazard insurance premiums,a�required; Third,to interes�d.��under the�ote; Fourth,to amortization.of the principal of the Note;and, Fi�l�,ta late charges due under the I�ote. Any application of payrrients, insurance proceeds,or Miscellaneous Praceeds t�principal due under the Nate sha11 not extend or pas�aone th�due date,or chang�the a�ount,of t�e Periodic Paymer�ts. 3. Fundsfvr E�crvw Items.Borrower sha11 pay to Lender on the day Periodic Payments are due under the Note,until th�Nate is paid in fu1�,a sum�the "Funds")to provid�for p�yment of amaunts due for: (a}t�xes and as�essments and other items which can attain priority o�er th�s Security Instrurnent as a lien or encumbrance on the Property;�b}leasehold pa�n�.ents�r graund rents on the Prop�rty, �f any;�c} premiums for any and al�insurance required by Lender under Sect�on�;and�d)Mort�ag�Insurance prem�ums to be paid by Lender ta the Secretar�or the monthly charge by the S�cretary instead of the monthly Mortgage Insurance premiums. 7'hese items are called "Escrow Items."At�riginatian ar at any ��me during the�erm of the Loan,Lender may require that�ommunity Ass��iation Dues,Fees,and Assessments, if an.y,be escrawed by Borrawer,and such due�, fees and assessments sha11 be an Escrow Item. Borrower shall promptly furnish to Lender a11 notices of amounts ta b�paid u�der this Section. Bvnawer sha�l pay Lender th�Fu�ds for Escro��ms unless Lender waiv�s Borrawer's o'b��gation to pay the Funds for any or ai�Escrvw Items. L�nd�r may�va��Borr�vver'��bligatiorx to gay to Lender Funds for any or a��Escrovv Items at any time..Atly such waiver may only be in�vriting. In the ev�nt of such waiver,l3onower sha11 pa�r duectly,wh�n and vvhere payable,the am�unts due for any�scrow Items f�r which payment of Fund�has been waived b�Lender and, �f Lend�r requires, sha11 furnish to Lender receipts e��dencing such payment vvithin such time period as Lender may require. Borrower's oblig�.tia�to make such pa�ments and to provide xeceipts sha11 for a11 purposes be deemed to be a covenant and agreement contain�d in thi�Security Instrument,as t�.e phras� "covenant and agreement"is used in�ection 9. If Borrower is ob��gated to pa�Escrow Items directly,pursuant��a waiver�and Borro�ver fails to pay the amount due for an Escr�w Item�Len��r may exerc�.se its r�ghts under Section 9 and gay such arr�ount and Borrower sha11 then be oblig�.ted under Section 9�o r�pay to Lender any such amount. Lender may revoke�he vvai�er as�fl any or alI Escraw Items at any time by a notice gi�en in acc�rdance�vith Section 14 and,upon su�h revocation,Borrawer sha11 pay to Lender a11 Fund�,and�n such amounts,that are then requued u�.der this Se�tion 3. �.ender may, at any time, eollect and hold Funds in an amount(a)s�fficient�o permit Lender ta app�y the Funds at th�time specif�ed under RESPA, a.nd(b}r�ot to exc�ed�he max�mum amount a 1end�er can requue under RESPA. Lender shall estimate the arnount vf Funds due on th�basis of current dat�.and reasanable estimat�s of exp�nd�tures of future Escravv Items or other�rise in accordance with A�pl�eabl�Law. FHA[�eed o�Tfusf Vl�i#h MERS-NE 913Ul2fl14 Bankers SystemsTti+ VIVIP� VMP4N=NE�4'€506)A4 Wolters Kluwer Financial Services Page 5 of�7 qU33547644Q7 0233 589 a517