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<br /> Any application of payments, insurance pro�eeds, or Miscellaneous Proceeds �a pr�ncipai du�under the No�e
<br /> sha�l not extend or postpone�he due date, or chan�e the amount, of the Periodic Pa�men�s.
<br /> 3. Funds for Escraw Iterns. Barrower shall pa�to Lender�n�he day Per�adic Pa�men�s are due under�he
<br /> Not�, un��i the No�e�s paid in ful�, a surn�the "Funds"} t�pro�id�for payment of amounts�ue for: �a} �axes
<br /> and ass�ssments and other items which can at�a�n prior�ty ov�r this �ecurity �ns�rumen�as a��en or
<br /> encumbrance�n�he Prap�r�y; �b} I�asehold pa�men�s or ground ren�s on the Proper�y, if an�; �c}pr�miums
<br /> for any and a�� insurance r�quired b�r Lender under Section 5; and�d} Mor�gage�nsurance premiums, if any,
<br /> or any sums pa�abi�by Bnrrower�o Lender�n lieu of the paymen�of N�or�gage Insurance premiums in
<br /> acc�rdan�e w�th the pro�isiflns�f S�c�ion ��. These item�s are calied "Es�rov�r �tem�." At originatian or at
<br /> any tinle dur�ng�he�erm af�he L.aan, Lender ma� require�ha� Com�mun��� Associat��n Dues, Fees, and �
<br /> Assessmen�s, if any, be escrowed�y Borrower, and such dues, fees and assessments shall be an Escrow
<br /> Item, B�rrower shall pr�mp�ly furn�sh�o L,ender aI�noti�es of amaunts to be pa�d und�r�his S��txon.
<br /> Borrnvver shai�pay �,ender the Funds f�r Escr��nr ��em�un�ess L�end�r wai��s Borrov�er's o��igat�on to pay
<br /> �he Funds far any ar a�i Es�rov�r ��ems. Lender may waive Borrower's obligation�a pay�a Lender Funds f�r
<br /> any or aII Escraw �tems at any time. An� such wa��er ma� only be�n wr��ing. �n�he e�ent of such�vai�r�r,
<br /> Borrower sha��pay d�rect��, v�rhen and where payable, the a�mounts due for any Es�rav� �tems for wh�ch
<br /> payment�f Funds has heen v�a��ed by Lend�r and, �f L�nder requires, shall furnish to Lender receip�s
<br /> e�iden��ng such paymen�wi�hin su�h�im�p�riod as Lender may require. B�rrower's ob�iga�ian�o mak�
<br /> such paymen�s and to pra�ide receipts shall f�r a�I purposes be de�nzed�o be a c�v�nant and a�reemen� �
<br /> con�ained �n�h�s S�cur�t� Instrument, as the phrase "co�enant and agreemen�" is us�d �n Se�tian 9. �f
<br /> Borrower i�obliga�ed�o pay Escrow �terns d�rec��y, pursuant�� a wai�er, and Borra�rer fails�o pay the
<br /> am�un�due for an E�crow Item, L.ender ma�exerc�se �ts r�ghts under Section 9 and pay such amount and
<br /> Borrov�rer sha�� then b��hligated under Section 9 �o re�a�r�o Lender any such am�un�. L.�nder ma� r�v�ke
<br /> the v�a��er as to an�or a�� Escr�w ��ems at any t�me by a no�ice given in accordance v�r��h Se�tion 15 and,
<br /> upon such re�oca�ion, Borraw�r sha�l pay to L�nder all Funds, and �n such amoun�s, �hat are�hen required
<br /> under�his Sec�ion 3.
<br /> I.�nder ma�, at an�r t�m�, col�ect and ho�d Funds �n an amount�a� sufficient�o permi� L�ender to app��the
<br /> Fund� a��he time sp�c��ied und�r R�SPA, and �b} no� to ex�eed the maximum amount a lender can requ�re
<br /> under RESPA. Lender shali es�imate�he amount of Funds due on the hasis of�urr�n�da�a and reasona�ble
<br /> estimates of expenditures af future Escra�nr ��ems or otherv�r�se in accordance w��h Appl�ca�le Law.
<br /> The Funds shai�b�held in an inst�tution�vhos�deposits are�nsured hy a federa� agenc�y instrurnen�a�i��, or
<br /> en��ty �including Lender, �f Lender�� an insti�u�ion whos�depos��s are sa insured}or�n any Fed�ral Hom�
<br /> Laan Bank. Lender shall app�y the Funds�o pay the Escrov� ��ems no �ater than the time specif�ed under
<br /> RESPA. Lender shal� no�char�e Borrower far holding and applying�he Funds, annual�y ana�yzing�he
<br /> escr�v� account, or�er�fying the Escrow Items, un�ess Lender pa�s Borr�wer in��r�st on�he Funds and
<br /> App�ica�Ie Law p�rmits Lender�o mai�e such a charg�. Unless an agre�ment is made in writing or
<br /> App��cable Law requires �nterest�o be paxd on the Funds, Lend�r sha�� na��e required t�pay Borrower any
<br /> interest or earn�ngs on�he Funds. Barrawer and L,�nder can agree in wri�ing, h�wever, tha�in�eres��hall b�
<br /> paid on the Funds. Lender sha�i give��Borrov�rer, withou�char�e, an annual accounting of the Funds a�
<br /> required by RESPA,
<br /> �f there is a surplus of�unds held in escrow, as de�ned under RESPA, Lender shall account to B�rrower f�r
<br /> the excess funds in accardanc�with RESPA. If ther�is a shor�age�f Funds he�d in escrow, as de�ne�under
<br /> RESPA, Lender shall notify Borr�wer as r�qu�red b� RESPA, and Barrov�rer sha�� pay�o Lender�he amoun� �
<br /> . ne��ssary�a make up the shortage�n accordance���h�ESPA, but in no mor�than 12 monthl�r payrnents. �f
<br /> �here is a def�ciency of Funds heid �n escrow, as d��ned under RESPA, Lender shall no��fy Borrower as
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<br /> Wolters Kluw�r�inartcial Ser�ic�s Page 5 of 17
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