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2� 1 ��731 �
<br /> uniil aorrow�r rnakes payment ta bring tl�e Lvan curren�. �f Barrower does not do sa�vithin a reas�nab�e�riad❑f
<br /> time, Lender shatl either ap�ly such Funds or rewrn thern to Borfower, If not applied ear�ier,SUGh ftinds wili be
<br /> I �plied Ea the nu�tanding princip�l balance unc3er�he No�e irnmcc�iately prior t❑fareclosure. I�la offset or cla'sm
<br />� which Aorrower might haVe naw or in the future against Lender sha�[reiie�►e f3orrn�ver�rarn making payments du�
<br /> under the hvte and�his Security Inst�um�nt or}7erforming the caven�r�t.s and agreeme��4 secured by this Se�urity
<br /> Instrt�mcnt.
<br /> 2. App�i�tian of Paym�nts ar Fro��ds. Gxccp[as ntherwise descri�i� tlti�5ertion 2, all �ayrncnts
<br /> ncficpt�d nnd applicd by I.ender shall b�app�icd in ihe fo�lowing vrder vf priority: {�}intereSt due undcr tt�e Naie;
<br /> tb)�rincipa[due under the Note;{c)amaunts due undcr 5cction 3. Sucl�payrnents sha�l be a�plied t❑each Perindic
<br /> Payrncnt in the ordc�in which it bccamc due. Any remainin�nmounts sha�l be app�ied first t❑�ate chArges,seccmd
<br /> �o any other arnounts due undcr�hiti Securi�y Instrument,au�d then to rcduce the princip�l b�l�Rce of the Nate,
<br /> if I�nder recei�es a payrnent frvrn Borrower for a deiinquent�'criacli�P�yment which inelc�des n s��fFCienl
<br /> amn�snt to pay�ny la�e chargc duc, �he�r�yrnent m�y he ap�li�d tc�the de�in�ucnt paymcni ar�d the laue cltiarge. If
<br /> rnor�[ltan v��e Pcriodic P�ymenl is outstanding, Lc�dcr rnay apply any payment rccei�cd f'rom Borrower to the
<br /> reRaymenc of th�Per icxiic Payrnenss if, �nd ta th�extent tha4 eaCh payrnent ran he paid in fu�i. To the extent that
<br /> any cx�ss cx�ta aFter ttie payrnent is applied tv thc full payment af ane ar mvre P�riodir Payrn�nts,suc��excess may
<br /> be upplied ta Any 1Atc char;es duc. �alun�ury prcpaym�ncs shall be applicd f rst ta any prcpayment char�es and then
<br /> as dcs�rihcd in the Notc.
<br /> Any application❑f�ayments, insurance��acecds,or Miscellaneaus Proceeds tfl princip��due under ehe Notc
<br /> shall no�cxiend or�aostponc thc duc datc,or change thc amount,❑f tl�e Periodic Payments.
<br /> 3. Funds for Escruw Items. Barrowrr shall�y to Lcndcr an the day Periodi�Payment,s�rc d�e under the
<br /> No�c,until the Note is paid in fulf,� surn�the"Funds"}to pro�ide for payment af amount5 due fvr: (a�taxeti�nd
<br /> aSseSsments�nd oU�er iterns whiGh�an atiain prior�ty over thi�Se�uri[y Instrument as a lien v�r encumhrance on titie
<br /> Pra�crly;(b)�easehald p�yn�enis vr d aund ren�s on thc Property, i�any;(c}pr�rn�ums for any and alt insuranc:e
<br /> required by Lencier undcr 5cclion 5;and(d�N�artgage 1n�urance premiums,if any,or uny surns payabl�by Borrower
<br /> 1u Lcnder i�i licu oF the paymen[of M�rigage Insurar�ce premiums in accordance��ith the provisions of Section 14.
<br /> T�tesc itern�are called"Cs�row[[�ms." At uribinalion or a�any timc durin6 th�Eerm vf the Loan,Lender may rcquire
<br /> thlt Cammuni#y A,csaciarion�]ues,rces,and Asses,�ments,i�any,be escrowed by BorroK�er,nnd suct�du�s,fecs and
<br /> asce�,sm�ritti shal�b�nn I=��crow�tern. Bc�rrowcr�hall prarnptly Furnis�la Le:nc3er all notices o�amaunts ta be paid
<br /> u�d�r this 5ectior�. Borro�ver shal� ��y Ler�der t�e Fc�nds iar Escrow Items un�es� Lend�r w�ives Barrawcr's
<br /> a6lig�tion t�pay tl�c�uncis€'or any or afl F.�crow Items. Ler�der rrtiay w�zi�e Bvrr�wer's�blig�tion lo p�y ta Lencfer
<br /> �unds f4r�ny or ail Es�crow Ilems at any time. Any�uch wai�er may❑nly be in writing. �n�h�:evenk or sucf�waiver,
<br /> Borrower st�all pay directty,wtten and wizere�ay�ble,thc amvunts due tor any Escraw Itcros#'vr which payment of
<br /> F�nds h�.�been w�i�cd by Lcnd�r�nd,if Lender requires,shall furnish to L.cnder receipts evid�nc�ng such payment
<br /> withzn�uch tim�period as Lender may require. B�rr�wer's nh�ig,atinn ta make such�aymcnts�nd tn pro�ide receipt�
<br /> shal�far a[l pu�poses be deemed to be a c�Wenant�nd a�r�ement canlained in this Securi�y Instrument,a.s ihc phrasc
<br /> "covenan[�ttd�tgrc�ment"i.5 u.scd in 5ection 9. If Borrawer is nbligatcd t❑pay Escra«r Itcros directly,pursuant to
<br /> a wa3�er,and Bvrrower Fnils�o�ay�le amaun�due for an Escrvw Itern,Lender may exercise its rights�nder Seclion
<br /> 9�nd�xy such arnaunt and Borrvtver shall[l�en be ohlig�ted�nder Sectian 9 t�repay to Lender any such amot�nt.
<br /> Lender m�y re�ok�the w�i�er as ta�ny ar all Escrvw Items at any time by a noti�e given in accordance�vit�Sec[ian
<br /> �]�»d,upan su�h fevacation, Borrower shall pay to Lender a!l Funds,and in such amounts, that are th�n required
<br /> under�his 5ection 3.
<br /> Ler�der rnay,�t�ny timc,callect ar�d hotd Funds in an amaunt{a)suFficicnt ta perm�t�.ender to app�y tlie Fur�ds
<br /> ac the[ime s�ecified under R�SPA,and tb�nvt t❑cxce�d�he max�mum amaunt a lender cttn require under�ESPA.
<br /> Lender�half cstirn�t�the amount of Funds due on the basis o#'currcnt data and reasanable estirn�tr.�of cxpenditUres
<br /> af�ut�ire�sc�vtiv Itcrns vr ot��erwisc in arc�rdance with Applicablc Law.
<br /> The Funds shnll be held in an institu�ion ��+i�o�tcc�eposits are insured hy a fcdcra[ager�cy,in�tr-umcncaiity,or �
<br /> entity�inc�udin�t L�ndcr, E�Lender is an inslitution whos,c d�posits are so�n�ured j o�in�ny Federal Hom�Loan ;
<br /> Bank. Lcrder shalt a�ply thc Fun�ls to pay t�1c E�crow�tem�no latec than the�ime specified ur�der RESPA. Lender I
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