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2� 1 ��544�
<br /> Any appiication af pa�ments, insurance pro�eeds, or N��scel�an��us Proce�ds�o pr�nc�pal due under�he Note
<br /> sha�I not extend�r postpone�he due da�e, or change�he amount, of�he Per��dic Payments.
<br /> �. Tu���s f�r��crow It�n�s. I3arrov��r sh�1�pay to Lcndcr on thc da�Pcriadic PAymcnt� �rc du�undcr thc
<br /> N��e, un�ii the No�e is paid�n full, a sum�the "Funds"} �a provide for pa�ment flf amounts due for: �a} �a�es
<br /> and assessmen�s and other it�ms v�h�ch can atta�n priorit�over�his Securi�y �nstrumen�a� a�ien or
<br /> encum�rance on�he Proper�y; �b} leasehald�aynl�nts or ground ren�s on�he Property, �f any; �c}premiums
<br /> for a��� and all insurance r�qu�red by Lender under Sect�an 5; and �d} M�rt�age�nsuran�e prem�um.s, �f any,
<br /> ar an��um.s paya����y Borr�wer�o Lender in�ieu of�he payment of Martgage �nsurance prem�ums �n �
<br /> accardance with�he pro��sions of S���ion ��. These i�ems are called "Es�rav�a I�ems." A�origination or at
<br /> an�t�me dur�ng the term�f the Laan, Lender�na�rec�uire that Comrnunity Association Dues, Fees, and
<br /> Assessmen�s, if any, be escrovved b� Borrav�er, and such dues, fees and assessnZents sha�I be an�scrow
<br /> Item. Borrov�er sha�i prompt�y furnish�o Lend�r aIl notices of amounts to be pa�d under�his Sec��on.
<br /> Borrawer shall pay Lender the Funds f�r Escro�r �tems unless Lender waiues B�rrawer's oh���at�on to�a�
<br /> the Funds for any or all Escrovv ��ems. Lender may wai�e Borr�wer's obliga��an�o pa�to Lend�r Funds for
<br /> �r��nr�11 �sr,rn� ��Pm� at a�y�irnP_ Any ���r� w��v�r m���ply h�: in u�ri��n�. T�n �n��v���nf�u�h w�.iv�r,
<br /> Barr�wer sha��pay directiy, when and�vhere payabl�, the amounts due for any Escr�w ��ems for which
<br /> pa�ment of Funds has be�n�a�ved by Lender and, �f Lender requ�res, sha�l furnish to Lender receipts
<br /> ��idencing such payment wi�hin such t�rne peri�d as L.�nder ma� re�u�re. Borrower's ob��gati�n ta m.ak�
<br /> such payments and to pr�vide rec�ipts shall for a�l purp�s��be deemed to be a covenant and a�reemen�
<br /> contained �n this Secur��� �ns�rument, as�he phrase "co��nant and agreement" is used in Sectian 9. �f
<br /> Borrower is obl�gated t�pay �scro��� �t�ms direc��y, pursuant to a wai�rer, and Borrower fai�s�o pay the
<br /> amoun�du� for an�scr�vv I�em, L�nder may exercise �ts rights under S��tion 9 and pay such amoun� and
<br /> B�rrower shaii then be ob�i�a�ed under Section 9�o repa�t� Lender an�such amount. Lender ma� revoke
<br /> �he waiv�r as to a��y�r a�l �scrow �fems a�any time�� a not�ce�i��n in accordance vv��h 5e��ion �5 and,
<br /> upon such re�ocation, Barrower�hall pay to Lender al� Funds, and in such amounts, �hat are then required
<br /> under this Se����n 3.
<br /> Lender may, a�an� ��me, c��Iect and hold Funds in an amount�a} suffic��nt�o permit Lender ta app��r�he
<br /> Funds at �he��me speci�ied under RESPA, and �h} not�o exceed�he maximum amoun�a lender can require
<br /> under RESPA. L�nder sha�i es��ma�e�he am.�unt of Funds due on the bas�s of curren�data and rea��nable
<br /> es�irna�es�f e�.penditures of fu�ure Escro��r ��ems or otherw�se in accordan�e vvith Applicabl�Law.
<br /> The Funds sha�l be held in an�ns�itution whose dep�s�ts ar�insured by a fed�ral a�enc�r, ins�rumen�ali�y, ar
<br /> en�ity �includin� Lend�r, if Lender is an inst�tutzon v�rhos�depas�ts ar�so �nsured} or�n any Federal Home
<br /> L,aan Bank. Lend�r shail app�� the Funds �o pay �he �scrow I�ems no �ater than the time specified under
<br /> RESPA. Lender shall n�t charge Borrow�r for hoiding and appl��n� the Funds, annually anaiyzing the
<br /> escrow a��ount, or�er�fying the Escrow I�ems, uniess Lend�r pa�� Borrow�r in��rest on th� Funds and
<br /> App���ab�e Lav�permi�s Lender to make such a charge. Unless an agre�ment is made in writing or
<br /> Applica��� Law requires �nterest t�be paid on the Funds, Lender shall no�b�r�quired ta pay Borrav�er any
<br /> interes�o��arnzn�s on the Funds. Borrovwer and Lender can agr�e �n wri�ing, how�ver, that �nt�rest shall �e
<br /> paid nn the Funds. Lender sha11 gi�e�o Borrovver, wi�hou�charge, an annua� account�ng of the Funds as
<br /> requ�r�d by RE�PA,
<br /> �f there is a surp�us of Funds he�d in es�row, as defined under R.�SPA, Lender shall account t� Borrov�►rer f�r
<br /> the exGess funds in accordance with RESPA. �f th�re�s a shartage af Funds he�d in escrawy as de�ned under
<br /> RESPA, Lender sha1�notify Borrower as required by R.�SPA, and Borrower sha�l pa� to L�nder the amount
<br /> necessary to ma�ce up the sh�r�age�n accordance vvi�h RESPA, �ut in n�m�re than I2 mon�hiy paymen�s. �f
<br /> �her�is a deficienc�of Funds he�d in esGr��, as defined under RESPA, Lend�r shall not�f�r Borrovuer as
<br /> N�SRASI4A-Singl��amily-Fannie MaelFreddie Mac UN(�4RM lNSTRUM�NT Farm 3028 11�1
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