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2� 1 ��7217
<br /> 2. Applicationof P'aym�nts or Prviceeds.Except as expressly sta.ted otherwise in this Security
<br /> Instrunnent ar the Note,all paym�nts accepted and app�ied by Lender shall be applied in the following
<br /> order of priarity;
<br /> First,to the Martgage Insurance premiums to be paid by Lender to the S�creta.ry or the monthly
<br /> charge by the Secreta,ry�r�st�ad of the month�y rr�vrtgage insurar��e pr�miu�ns;
<br /> Secand,ta any taxes,spec�al assessments,leasehold payments ar grou��d rents,and fre,flood an�i
<br /> ather hazard insurance premiums,as required;
<br /> Third,to int�rest due uader th�Note;
<br /> Fourth,ta amortization of th�principa�of the Notes and,
<br /> Fifth,t�1�.te charges due under the Nate..
<br /> Any application of payments,insurance proceeds,ar Misce�laneous Proceeds to princxpal due under the
<br /> Note sha11 not extend ar postpone the due date,or change the amount,of the Periodic Payments.
<br /> 3. Fundsfvr Es�row Items.Bonawer shalt pay ta Lender on the day Periodic Payrnents are due uader
<br /> the��t�,ur�t��th�I�ote rs ga�d xn.fu��,a sum�t��"Fur�ds"}to prov�de far payment Qf arr�ounts due f�r:
<br /> . (a}taxes and a�s�ssmen�s and atl�er items which can attain priarity o�er�his Security instrum�nt as a lien
<br /> or�ncumbrance�n th�Property; (b)leaseh�ld payments ar�round rents�n the Praperty,if any;(c}
<br /> prerrii�ums for any and a���nsurance�equ�r�d by�ender undeF Sectzan�;and(d�Mortgage Insurance
<br /> premiums to be paid by L�nder to the Secretary�r the rnonthly charge by the Secr�tary in�tead of�he
<br /> monthl��Vlor�gage�nsurance premiums.Th�se items are cal�ed"Escrow Items,"At origination ar at any
<br /> t�m�during the terrri af the Lvan,L�nd�r may requxre that Gv�nu�.2t�A.s�ociat�on I�ues,Fee�,and
<br /> Assessn�ents,if any,be escro�ed by Borro�rer,and such du�s,fees and assessments sha�l be an�s�row
<br /> Item.�orr��v�r shal�p�ramptly furnish to Lender all notices of amounts to be p�id under this Section.
<br /> Boz�rawer s�.a���a�Lenr�er the Funds for Escra�Iter�s u�.�ess Lender�vai��s B��-row�r's ob��gat�on�o
<br /> pay the Funds far any or a1t Escrow Items,Lend�r may waiv�Borrower's abliga�ian ta pay to Lend�r
<br /> Funds for any or al�Escraw Items at any t�m�.Any such waiver may only be in�vriting. In the e�en�of
<br /> su�h tivai�er,B�rr��ver ska��pay dire�t�y,�rhen and where payab��,the arr�aunts d�e for any Escro�
<br /> �tems for which payment of Funds has be�n waived b�Lender and,if Lender requires,sha11 furnish to
<br /> Lend�r receipts e�idencing such payment�rithin suc�time period as Lender may require.Borr4�ver's
<br /> ob�rgat�an t�ma�e suc�.payments and t�pr�vid�r��eipts s�a�� fo�a���urpo�es be de�rr�ed ta be a
<br /> cav�nant and a�reemen�contained in this Security�nstrurr��nt,as the phrase "ca��nant and agre�ment" is
<br /> used in 5ection 9, If Bono�ver�s oblrgat�d ta pay�scroiu Items directly,pursuant�o a v�raiver,and
<br /> Borrou���fai�s to pay the amau�.t dUe�or an Escro�v Item,�.en�e�-ma�exerc�s�its��ghts under�ecti�n 9
<br /> and pay such amount and Borrower shall�hen be obligated under Secti�n 9 to repay to Lender any such
<br /> amount,�,end�r may revoke the wai�rer as to any or a�l Escrow Items at any time by a notiee given in
<br /> accor�ance with S�ction �4 and,upan sUc�rev�catrar�,Bofro�ver sha�1 pa�to Le�.�er a��Fun�s,and�n
<br /> �ueh amounts,that are then requued under this S�ction 3.
<br /> Lender may,a�any time,col�ect and hold Funds in an amaunt(a)sufficient to permit Lender to apply the
<br /> . Funds at the time specif ed under RESPA, and�b)n�ot to exceed the maximum amount a�ender can require
<br /> und�r RESl'A. Lend�r s�ha11 estimate the amaunt of�unds due on the basis of�urrent data.and reasonable
<br /> estimates of exgenditures of future Escrow Items or otherwise in accardance with Applicabie Law.
<br /> FHA❑eed o�Trust With MERS-NE 913QIZa14
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<br /> Wq�ters Itluwer�inancial SeNices Page�of 1T
<br /> q033627456�4 Q�33 31$ 0517
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