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2� 1 ��5932 7. Appiicat�onof Payments or Pr�oceeds.Except as express��stated�therwise in this Security Instrument or the Note,a11 payments ac��pted and applied by Lender shal�be applied in the f�llowing order of priority: First,to the Mortgage Insurance premiums to be paid by Lender to the Secretaiy or the monthly charge by the Sec�etary instead of the month�y martgage insurance premiums; Second,to any taxes,special assessr��.ts�leasehold payments or ground rentsA and fire,f�ood and other hazard insuran�e pre�rniums,as required; Third,to interest due under the Note; Faurth,to amortization of the principal of the Note;and, Fifth,�o iate cha�rges due under the Note, Any application of payments, insurance proceeds,or Misce�laneous Proc�eds�o principal due under the Nate shali not extend ar postpone tb�e due date,or change the amount,of the Periodic Payments. 3. Fundsfor Escrv►n►Items,Barrower sha��pay ta Lender on the day Periadic Payments are due under th�Note,until the 1�Tote is paid in fu1i,a sum(the "Funds"}to provide for payment of amounts due for: (a}taxes an�asses�ments and other items w]�ich can attain priorit�over th�s Security�nstrument as a lien or enGumbrance an the Proper�y;(b)leasehold paym�nts or grnund r�nts on the Property, if any; (c} . premiums for any and a11 insuranc�re�uired by Lender under Sectian S;and(d}Mortgage Insurance premiums to be paid by Lender ta the S�cretary ar the monthly charge by the S��r�tary inst�ad af the monthly Mortgage Insurance premiums. These items are ca��ed"Escrow Items."At origination or a�any time during the term of the Loan,Lender may requue that Community Association Du�s,Fees, and Assessments, if any,�e es�rowed by Borro�uer,and such dues, fees and assessrnents�hall be an Escro� It�m. F3orrower shal�prompt�y furni�h to Lender a11�otices of amaunts to be paid under this Secti�n. Borrv�rer sha�Z pay Lender the Funds for Escro�u��ems unless Lender waives Borrower's abligation to pay the Funds for any or all Esc�row Items. Lender may�aive Borrower's obligatian to pay to Lend�r Funds for any or all Escrow Items at any time.Any such waiver may only be in writing. In the event of such waiver,Bono�ver sha�1 pay directly,when and where payable,the amounts due fflr any Escro�t �tems for which payment of Funds has been waived by Lender and, �f Lender requir�s,shal�fumish to Lender rece�pts evidencing such payment with�n.such time period as Lend�er ma�require. Borrower's obligation ta mak��uch payments and to pro�ide receipts s�a��far a11 ge�rposes he deex�ed to be a co�enant and agreement contained in�his Security Instrument,as the phrase "covenan�and agreement" is used in Section 9.If Borrower is obligated to pay Escrow Items directly,pursuant to a�vaiver,aad Borrov�e�fails ta pay the amoun�d�e for an Escrow It�m,Lender may�xercise�ts rights under Sec�ion 9 and pay such amount and�orrower sha11 then be o�ligated under Section 9 tfl repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notic�g��en in acc�rdance with Sectian 1��#and,upon such revocation,Borro�ver sha11 pay to Lend�r a��Funds,and in such amaun�s,tha�are then required under this Section 3. Lender may,at any time,collec�and hold Funds in an amo�nt(a)suffi�ient to perrr�it L��de�'to app�.y the Funds at the time speci#"�ed und�r RESFA, and(b�not to e�.eeed the maximum amount a lender�an require under RESPA. Lender sha�l estirnate the amount�f Funds c�ue on the basis of eurrent data and reasonable �st�mat�s of expenditur�s o�fii�e Esc�o�Items or otherw�se�n accordance with App�icab�e Lar�v. FHA Deed of Trust 11Vith MERS-NE 913U1241� Bankers SystemsTM VMP� VMP4N�NE)�15(36}.4� Wolters K�uwer Financiaf Servi�es Rage 5 of"!7 q43358851285 Q233 5�2 �517