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2� 1 ��5212 Z. Applicationof Payments or Rroceeds.Exc�pt as expressly s�a�ed otherwise �n this S�curity Instrument or the Note,a11 paym�n�s accepted and applied by Lender sha11 be applied in the following order of priorit}�: Fir��,�o the Mortgage Insurance premiums to be paid by Lender to the Secretary or the monthl�r charge by the Secre�ary instead of the monthly mortgage�nsurance premiums; Second,to any taxes,spec�a�assessments, leasehold payments ar�round rents,and fue, flood and other hazard insurance premiums,as required; Third,to�n�eres�due under the N��e? Fourth,to amortiaati�n of the principa�vf�h�N�te�and, Fifth,to late charges due under the N�te. A�y app�ication of payments, insurance proceeds,or Misce��aneous Procee�.s to principal due u�.der the Nate shall not extend or postpone the du�dat�,or change th�amoun�,of the PeriodiG Paymen�s. 3. Fundsfor Escra►nr�tems.Borrower�ha11 pay to Lender an the day Periodic Payments are due under the Note,unt�l the Note is paid in full,a��m�th� "Funds"}to pra�ide for payment of amounts due for: �a)taxes and assessments and other it�ms�vh�ch can attain priority over thi�S�curity Instrum�nt as a lien or encum�rance on the Property; (b}leasehold payments or ground rents on the Prop�rty, if any; (c} premiums for any and a��insuranee required by Lender under Section 5;and(d)Mortgage Insurance premiums to be paid by Lender�a the Secreta.ry or the mon�hl��harge by the Secretary instead of the mor�thly Mortgage In�uranc�prern�ums. These it�ms are calted"Escrow I�ems."At origination or at an�y time during the term of th�Loan,Lender may requue�ha��ommunit3r Association Dues� Fees,and Assessmer�ts, if any,�be escrowed�y Borrower,and such dues, fees and assessments shall be an Escro�v Item. Borrower sha��promptly furnish to Lender all notices of am�unts to be paid under this S�c�ian. Borrower s�.a��ay Lender the Funds for Escro�v Items unless Lender waives Borrower's obligation to pay the Funds far any or a11 Escrow I�ems, Lender may waive Borro�er's obligation ta pay to Lender Funds for an�or all Escro�v Items at any time.Any such wai�er may only be in writing. In the e�ent of such waiver,Borrower sha�l pay directly,when and where payable,the amounts due for any E�crow Items for which payment af Funds has been wai�ed by Lender and, if Le�der requires, shall furnish to Lender receipts evrdencing such payment within such�ime period as Lender ma�require. Barrower's ob�igation to ma.ke su�h payments and to provide receipts sha11 for all purposes be deemec��o be a co�enant and agreement canta.ined in this Security Instrument,a�the p�rase"covenant and agreement" is used in Sec�ian 9. If Borrower is obligated to pay Escraw Items direct��,pursuant to a wa��er,and Borrower fails to pay the amount due for an Escrow Item,Lender may exercis�its r�gh�s under Se�tion 9 and pay such amount and Borrawer sha1l then be obligated under Section 9 to repay ta Lender any such amaunt. Lender�nay re�roke the waiver as to any�r a11 Escrow Items at any time by a notice g��en in accordance with Section �4 and,upon such r�v�cation,Bor�rower�ha11 pay to Lender all Funds,and in such amounts,that are then required under thi�Sectron 3. Lend�r may, at any tirne, co�Iect and hold Funds in an amount(a)sufficient to permi�Lend�r to apply the Funds at the time specified under RESPA, and(b}na�to exceed�he maximum amount a lender can r�quu'e un�er I�ESPA. L.ender sha11 estima�e the amount of Funds du�on the basis of current data a�d reasonable estimates of�xpenditures of futur�Escraw Items or�therwise in accordance�vith Applicab�e Law. FHA❑eed of Trust With MERS-NE 913Qi2414 Bankers Systems�+ VMP� VMP4M€NE}�1546}.fl4 Walters Kluwer Financial Services Page 5 of 17 q�3359�79G84 �233 3�3 �517