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2� 1 ��7751
<br /> Any applicat�ori of payrnen�s, insurance proce�ds, �r Miscel�aneous Proceeds��princ�pal due under t��No�e
<br /> sha�� nat extend or pos�pon�the due date, �r change�he amoun�, flf the Per�odic Payments.
<br /> 3. �'unds for Escrow I�ems. Barrawer shall pay to Lender an the day Per�odic Paymen�s are due under the
<br /> Note, unti��he N��e is paid �n ful�, a sum(�he "Funds"} to provide far pa�men��f amaunts due for; �a��axes
<br /> and assessments and other��ems vvhich can a��ain pr�ori��o�er th�s Securit� Ins�rum�n�as a Iien or
<br /> en�um.brance on�he Praper��r; �b} leaseh��d paymen�s or graund rents�n the Proper�y, if an�; �c}premiums
<br /> f�r an�and a�I insurance required �� Lender under Sec�ion 5; and �d} Mor�gage�nsurance pren��.ums, �f any,
<br /> or any sums payabl��y Borr�vver to Lender in��eu of�he payment of Martgage�nsurance prem�ums �n
<br /> accardance with�he pr�v�s�ons of Sec�ion �D. These�tems are called "E�craw ��ems." At origina�ian ar a�
<br /> a�y�ime during�he term of the Laan, Lender ma� require that��mmuni�y As�ocia�i�n Du�s, Fees, and
<br /> Assess�nen�s, �f any, be es�rawed by Borrower, and such dues, fees and assessments sha���e an�scr�w
<br /> ��er�.. Borrav�er sha�1 promptly furnish�o Laender aI� natices af am�un�s�o be paid under�hxs S��tion.
<br /> Borrower sha��pa� Lender the Funds for Es�rovW �tems un�ess Lender wa��e� Barra�ver's obl�ga�ian�o pay
<br /> �he Funds for an�or a11 Escrow ��ems. L�nder ma� v�aiWe Barrovv�r's�b���a��on�o pay to Lender Funds far
<br /> any�r a�� �scrov� ��ems a�an�t�me. An� such v�aiver ma�only be�n writ�n�. �n the event of such wa�ver,
<br /> Borrower sha11 pay directl�, when and where paya�le, the amounts due far an��scrov�r ��erns for wh�ch
<br /> pa�rment of Funds has been wai�ed b� Lender and, if Lender requires, sha11 furnish�o Lender rec�ip�s
<br /> evidenc�ng such payment w��hin such�ime period as Lender may require. Barrower's abl�gat��n to�ma.�e
<br /> such paymen�s and to provide re�eipts shail for all purposes be deem�d ta��a co��nan�and agr��m�n�
<br /> c�n�ain�d in thxs Secur�ty�nstrumen�, as�he phrase "covenant and agreement" is us�d�n Sec�ion 9. If
<br /> B�rro�rer�s ob��ga�ed�o pay E��row I�ems directly, pursuan�to a wa�ver, and B�rr�wer fa�ls to pay�he
<br /> amaun�due for an Escr�w �tem, Lender may e�cercise its rights under 5ect�on�and pa� su�h amaun�and
<br /> Barrower�hal.� then be obligated under Section� to repay to Lender any such amount. I.ender may re�oke
<br /> the wai�er as to any ar all Escro�v I�ems at an� time b�r a nn�ice given in accordance wi�h Section Z 5 and,
<br /> upan such revocat�an, B�rrovv�r shall pa� to Lender a�i Funds, and in such amoun�s, that are then requ�red
<br /> under th�s Sectian 3.
<br /> Lender may, a�any t�me, co11e�� and ho�d Funds in an amoun� (a} suf�cient to permit Lender to apply the
<br /> Funds at the�xme specif�ed under RESPA, and�b}not�o exceed the maximum amount a lender can require
<br /> under RESPA. Lender sha�� estima�e the am�unt af Funds due on�he bas�s of current data and reasonable
<br /> est�ma�es of expend�tures vf future Escraw I�ems ar otherwise in acGordance vvith Appiica�le Law.
<br /> The Funds sha�l be held in an institution whose depos�ts are�nsured by a federal agency, instrumen�al�ty, or
<br /> en�ity �including Lend�r, if L�nd�r is an�nstitut�on whase depos��s are so insured}or�n any Federal Home
<br /> Loan Bank. L.�n�er shall appl}� the Funds to pay the Escro�v �t�ms no later than th�time sp�c�f�ed under
<br /> RESPA. Lender shall not charg�Borrow�r for hold�ng and app��ing �he Funds, annua�iy analyzing the
<br /> escrow account, or�erifyxng th� Escrow �tems, un�ess L,ender pays Borrawer interest on the Funds and
<br /> Appi�cab�e Law permits Lender�o make such a charge. Un�ess an agreement is made in writing ar
<br /> A�plicable Law requires interes��a be paxd on the Funds, Lender sha11 not be requ�red to pay Borrow�r any
<br /> in�er�st ar earnings on�h�Funds. Borrower and Lender car�agree in wri�ing, howe�er, �hat interes�sha11 be
<br /> pa�d on the Funds. Lender sha�l gi�e ta Borrower, without charg�, an annual a�coun�ing of the Funds as
<br /> requ�red by RESPA.
<br /> If�h�re�s a surplus of�Funds he�d in escrovv, as de�ned under RESPA, L.�nder shal� accoun�.to Borrnwer for
<br /> the exc�ss funds in accordance wi�h RESPA. �f�here is a shorta��of Funds held in escrovv, as de�ned under
<br /> RESPA, Lend�r shai� notif}� Borrovver as �required Uy RESPA, and Barrower sha��pa�r to Lender the amoun�
<br /> r�ecessary to�m.a.�e up the s��rtage xn accordan�e with RESPA, bu� �n no more than I2 mon�hly payments. If
<br /> there is a deficiency of Funds held in�scrav�, as def�ned under RESPA, Lender shall n��ify Borrflw�r as
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