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2� 1 ���443
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<br /> �. Applicationof Payments or Proceeds.L;xcep�as express�y s�ated other��ise in this Security
<br /> Instr1zmen�or the Note,a�l payments accepted and applied by Lender shall be applied�n the followi��g
<br /> arder of priority;
<br /> First,to the Mor��a�e In�urance premiums to be paid by Ler�der to�he Secre�axy ar the mon�hly
<br /> char�e by the Seeretar�r instead af the manthly mort�a�e insurance premi�ims;
<br /> Second,to any taxes, spe�ial�ssessments, leasehold payments ar ground ren�s, and fire, flood ai�d
<br /> other hazard insurance premiurns,as reyuired;
<br /> Third,to interesti due under the Note;
<br /> rourth,t�amo�-�iza�ion of the prineipal of the No�e; and,
<br /> Fifth, to Iate char�es due under the Nate.
<br /> Any app�ication�f payln�nts, ins�zrance proceeds, or Misceilan�aus�'race�ds to prix�cipal due ul�der the
<br /> Note shall not extend or pos�po��e t.he du�date, ax-change the amount,of t:he �'eriodic �'aymet�ts.
<br /> 3, Fundsfor Escraw It�ms. �3o�-rar�ver s��all pa��a Le��der o�i t��e day�'�riadic PayrT�cr�ts are d�re�rr�der
<br /> �he Not�,nn�il the Notc is paid ii1 fi�ll, a s��m�fihc "Funds")t.o providc far paym�nt of amo���-�rs due for:
<br /> �a}taxes and ass�ss�nents and other it�ms��hich can attain priority o�er this Security Inst.rument as a lien
<br /> or encumbrance on thc Froper�y; �b) lcaschold paymcn�s or grour�d rents on thc praperty, if any; (c}
<br /> premiums for any and aIl insurane�required by Lender under Section 5;and(d}Mortgage Insurance
<br /> prcmiums to bc paid�y Lcndcr to��e Secr��ary or thc monthly chargc by thc SecrcYary ins�ead of the
<br /> mont�ly Mor�gage Insurance premiums. rThese �tems ar�called "Escrow rtems."�t originatior�ar at an�
<br /> #ime d��ring thc tcrrn of�.h� �,oara, Lei7dcr Y�nay r��uirc thati Community�ssociation I)����, Fccs,ar�d
<br /> Ass�ssments, i#"any,be escro�ved by Bo�-ra��e1•,and such dues, #ees and assessme��t�s shal�be an Escro��v
<br /> Item. Borra��ver shall pramptly furnish ta Lender ar1 notices o�amounts ta be paid�.�nder this Section.
<br /> B��-rower sha11 pay Lender the Fun�s for Escraw Ite�ns unless Lender waives Barro��er's abligation to
<br /> pay�hc Funds for any or a1�Escrow Itcros. Lcndcr may waiv���nowcr's obli�atian ta pay�o Lc�nder
<br /> Funds far any or a�l Escro�v Items at any time, Any such��aiver may onty be in��riti�r�g. In the eve��t of
<br /> such�vai�er,Borrawer shall pay�iirectly,�vher�and�vhere payable,the amou��ts due for any Escrow
<br /> Item�f�r�vhi�;h pa.ylnent�f Funt��ha�been�vaive[�by Len��r and, if Lender reyt�ires, 5ha11 furnish to
<br /> Ler�der receipts evidencing s�xch payment v�rithit�such ti1�e period as Lender may req�iire. F3orro��ver's
<br /> �bli�atic�n to make su�h payrr�ent�and to prc�vide receipts sha�1 f�r all p��rpc�se�be cieemeci to be a
<br /> co�enant and agreement co�tained in this Security I��str���nent., as thG phras� "covenant and a�reement" is
<br /> u�ed in Section 9. If Bc�nUwer is obli�atec�tc�pay ��5cruw�terns t�irt�ctly,p��r5uar�.t tc�a ��aiver,ar�ci
<br /> Borro�v�r fails to pay the amount due tor an Escrow Item, Lender may exercise its ri�hts��r�der Section 9
<br /> an�i pay such amount and�3on�w�r�hall th�n be c�bli�at�d r�n�i�r S�ction 9 t�repay tt� Lendc;r any StYch
<br /> amat�nt. Lender may revoke the waiver a�to ar�y or ali Escrow Iterns at a��.y time by a r�.at�ce gi�en in
<br /> accordance�vith 5ectic�n �4 and, «pon such re�vcatic�n, Bc�rro�ver shall pay t�Lend�;r all I�un�s, and in
<br /> st�ch amounts,tha�are then required und�r this Section 3.
<br /> Lender may, at an�l time,co�lect and hold Funds ir�an amaunt�a}�ufficient to perrnit Lender to apply the
<br /> Fu��ds at the ti�ne specitied u��der RES�'A, ax�d�b)Y�at�to ex�eed the�naxirnu�n a�nau���a lender can r�quire
<br /> under RESPA. Lender shall esti�nate the amoi�nt�of F�unds due on�he�bas�s of c��izet�t data and reasox�able
<br /> estimates o�'exper�dit��r�s of fut«re Es�row�te�ns or�therwise in a�cordance with�ppl��able Law,
<br /> FHA❑eed of Trusi With MERS-NE 9130lZ�144
<br /> Bankers SystemsT� VMP C7 VMF�4N(fJ�}(1506�.QD
<br /> Walters Kluwer FFnancial 5ervices Pag�5 af 17
<br /> q03357�9�03� Q��3 7Q5 �517
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