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2� 1 ��8158
<br /> � LQAN#:�1'��Og89��
<br /> 2. Appl�cation of Payments ar�racEeds. �xcept as othPrw�se desc�ibed in this S��tio���,ali
<br /> payments a���pt�d�nd applied hy Lender shaii be app�i�d�n th�fol�owing arder of priarity:{a�inter�st
<br /> due ur7der the Nate;�b�p�'incipal due under fhe Note;�c}amou�ts due ur�der 5ection�,5ucn p�ym�nts
<br /> shall he app�ied ta�ach P�riadic Payment in the order in which it b�c�me due.Rr�y r�maining amaunts
<br /> shal�be applied�rst to�ate charges,se��nd fio arzy other amounts due under this Security Instrument,
<br /> and then�o r�duce the pr�nc�pa�balance af the Nvte.
<br /> lf�.ender receiues a payment from�3orrower#c�r a d�[inquen�Perivdic Payrrtent which �nc�udes a
<br /> sufficient am�unt to pay any lat��h�rg�du�,the payment may be app�ied to the dElinquen#�ayment and
<br /> th�I�t�charge.l�m�r�th�n t�n�Period�c P�yment is out�tanding,�ender rnay appiy any paym�n�recei�ed
<br /> from Barrnwer to th�repayment of the P�riodi��'ayments i#,and to the ext�nt that�each paymer�t car�be
<br /> paid in ful�.To�he exteni tnai any excess exists ait�r the p�yment is app��ed to the full pa}�ment o�o��e vr
<br /> more Pe��odic Payments,such exc�ss may be appli�c�ta any��t�charg�s due.Va�untary prepayments
<br /> sha[�h�applied first#o any pr�paym�n�charges ar�d th�n as describ�d in the Note,
<br /> Any app�icatian of p�yments,insurance proceeds,ar M��cellaneous Praceeds t❑prin�ipal due�inde�
<br /> the h�ate sha(�nat extend ar po�tpvn�the due date,�r�hange the amot�nt,o�th�Periodic Payments.
<br /> 3. Funds�'r��'Esc�'ow I#ems.Borravver�hali p�y tn�.ender qn the day Periadic Payments ar�due
<br /> under th�Nate,until t�e h�ot�is paid in�ull,a Sum�the"Funds"}to prnvide fvr paymEnt qf amounts due
<br /> far:�a}taxes and assessments and o�her items which Gan attairi priarity o�er f��i�S�curity ln�trument as
<br /> a lien or encumbrance on the Prape�ty;�b}leasehvid paymen�s or ground rents on the�roperty,if any;
<br /> �c}prem�ums�ar any and all insurance req��i�ed hy�.�r�de�t�nder Section 5;and�d}Mar�gage Insuran�e -
<br /> premiums,if any,ar any sums�ayable by Borr�wert��.ender i��li�u❑f the payment of Mortga�e�nsuranc�
<br /> pr�mi�ams;n aceard�t�ce w�th�he provisions of SectiQn �fl.�'hese ite�s are�a�led"�scrow Items,"At
<br /> origination or at any#im�du�ing tl�e term of the Ln�n,Lender Ex�ay r�quire th�t Cor�muni�y Ass�ei�tian
<br /> Bues,Fees,�nd Ass�ssmen�s,if any,h�escrawed by Barrawer,���d such due�,#�es and assessments
<br /> shall be ar�Escrow lt�m,�orrower sh�ll promptly furr�ish to Lender�ll no��ces of�mounts ta be paid under �
<br /> #his Section. ��rrower shall pay Lender the Fu�ds for�scravv Iterr�s unle55 Lender wa�v�s Borrov�er's
<br /> ob�igation ta pay the�unds far any or a!!�s�raw Items.Lender may vvai�e Borrower's abligativn t❑pay
<br /> to�.ender Funds for any or al�Escrnw�tems at any time.Any�uch wa�ver may only be in writing.�n th�
<br /> eWent of such wai�er, Borrower shall pay dire�tly,when and where paya�l�,the�mount�due for any
<br /> Es�raw lt�ms for whic��payrr��nt af Funds has b�en waived by Le��der atid,�f Lend�r requires, shall
<br /> furr�ish to L�nde�receipts e�td�ncing such payment within 5uch tim� period as Lender may r�qt�i�e.
<br /> Borrawer's�toiigatror�t❑make such�ayments and ta provide re�eipts sha�l�or a!l purposes be deerned
<br /> to��a cavenartt and ag��ement cantained in this S�curity Ins�rument, as the phrase"�ov�nant and
<br /> �greement"is us�d in Sectian 9. �f Borrower i�obligat�d to pay Escraw Iter�ns directly, purs�ant ta a
<br /> wai�er,and Borrowe�faif�to pay the arr�ount duQ for an�scrQw it�m, Lender may ex�rcise its rights
<br /> under�ection 9 ap�pay such�mount and Bo�'rov�er sha!!then be obl�g�ted under Section 9 tQ repay
<br /> tQ Lende�any Such amount.l..�nc�er may revoke the w�iver�s to any or al!Esc�-ovv Iterr�s at any tirr�e by
<br /> a notEee given in accordance with Sec#ian`l5 and,upon such revacation,Borrower shall pay to Lender
<br /> alf Ft�ndS,and in such amour�ts,that a�'�th�n r�quir�d under this S�ct�ar�3.
<br /> Lender may,at any time,co!lPct and hold Funds in an amount�a7���f�iGient ta pe�r��it LPn�Pr tn�ppEy
<br /> the Funds at the time�peci#ied under�ESPA,and�b}na�to exc�ed the maximum a�no�ant a lender can
<br /> require under RE�l�A.�.ender�ha�l estimate the amoU��t�f Funds due�n the ba�is❑f current data and
<br /> reasonable�siimates of�xper�ditures of fut��re Esc�ow Iterns or atherv�rise in accordance with Appli�abfe
<br /> L aw.
<br /> The�utids sha�l be heid En���inst�tuti�n whose deposits are insured by a f�dera�agency,instrur��entality,
<br /> or entify�including Lender,if Lsnder i�an institution whose deposits are so insu�ed}ar in any F�d�ral
<br /> Hom�Lnan Bank.Ler��e��hali apply the Funds to pay the Es�raw(t�ms�-�a iater than th�time specif�ed
<br /> under RE�pA.Lend�r shall nat charge aor�-��rver for holdinr�ar�d applying the Fun�s,annually analyzin�
<br /> the escrvw account,�r ve�i#ying the Es�row ltems,ur�le�s�.ender p�ys Barrowcr int�rest an t�e Fund�
<br /> �nd Appiicable Law p�rm�ts Lender to make such�charg�.unless an agr�ement is mad�in writ�ng or
<br /> Ap�alicabl�Law requires interest to be pa�d on the Funds,L�nd�r�hal�naf be��qui�ed ta p�y Bor�awer
<br /> any int��-est o�•earnings o��the Funds.f�orrower and�.ender can agr�e En writit�g,I�owever,that inter�st
<br /> sha�l be p�id or�th�Funds.L�nder shall�ive ta Borrow�r,without charge,an annual�ccc�unti��g af the
<br /> Funds as required by R�SPA,
<br /> lf#h�re is a surplus of Funcis held in escro�v, as de�ined unc��r F�ESf�A, �.�nd�r shall account to
<br /> �arrawer��r#he exce�s�unc�s in�Gca�d�nce with RESPA.If there is�shortage�f Funds h�;ld�n�s��ow,
<br /> as definEd under R�SPA,�.�nder shall notify�arrower as required�y�ESPR,and L�orrower shal�pay�o
<br /> Ler�d�r the amqunt nec�ssary to make up the sl�artage in�ccardanGe with RES�A,but in na��ore th��
<br /> �?.mUr�thly payments.l�t��ere is a defic�ency of Fu nd�hefd in esc�a�r,a�de��ned under��SPA,�.ender
<br /> shall na#�fy Bo�rower as requsred by RESP�,and Bor�-Qwer�hai�pay to L�i�d�r tl�e ar��our�t nece�sary
<br /> ta rr�akP up the defct�ncy in accordance w�th R�SPA,but in na mor�th�n �2 mo:�thly payr��ents,
<br /> Upon paym�nt i:�full o�all�ums�ecur�d by th�s 5ecu3�ity If��t�um�nt,LendFr�ha�!promp€�y re�u��d
<br /> tU Borrow�r any Fui�d�heid by Lender.
<br /> �, Charg�s; �.i�ns. Barr�wer sh�ii pay a!f tax�s,ass��sr��enls, charg��, fin�s, and ir�� osi'ons
<br /> �ttributabl�to tl�e P�'operty which c�n at��in priorily o�er���is Sect�rily 1nslrume��t,IeasehQfd �y er�tsf��� ,
<br /> lnit�als; ._._.. _ •.v'
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