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2� 1 ��8797 receipts shall for all purp�ses be deemed to be a covenan�and agreement contained in�his Security Instrum�nt,as the phrase"co�enant and agreement" is used in Sectxan 9. If Borr�wer is obligated ta pay Escrov�r Items directly,pursuan��o a waiver, and Borra�er fails ta pay the amount due for an Escro�v Item,Lender may exercise its righ�s under 5ection 9 and pay such amoun�and Borr�wer sha�I then be oU��gated under Sec�ion 9 to repay to Lender any such amaunt.Lender may revoke the waiver as to an�or aIl Escro�Items at an�tirne by a natice gi�en in accardance wi�h Section 14 and,up�n su�h re�ocation,Borrower sha11 pay to Lender a�l Funds,and in such amounts,that are�hen requzred under this 5 ection 3. Lender may, at any time, co�lect and hold Funds�n an amount(a�sufficient to permit Lender to apply the Funds at the time specified under RESPA, and(b}not to exceed the maxzmurn amount a lender can require under RESPA.Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expendi�ures of fu�ure Escro�v Items or otherv�ise 7n accordance with Applicable Law. The Funds sha11 be held in an institu�ion vvhose deposits are insured by a federal agency, instrumentality, or entity�including Lender, if Lender is an institu�ion whose deposits are so insur�d} or in an�Federal Home Loan Bank.Lender shall apply the Funds to pay�he Escrvw I�ems no la�er � than the tim�sp�cified under RESPA.L�nder shall nat char�e Barrawer for holding and apply�ng�he Funds, annually analyzing the escrvw account, or verifying the Escrow Items,un�ess Lender pays Borrawer interest on the Funds and Applica�le Lav�permits Lender ta make such a charge. Unl�ss an � agreement is made in writing or Applicable Law requires interest�o be paid on�he Funds,Lender sha1� no�be required to pay Borrovver any interest or earnings on the Funds. Borrower and Lender can agree in�vriting,howe�er,that interest shall be paid on the Funds.Lender shall give to Borr�wer,v�i�hout charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as def ned under RESPA,Lender sha11 accoun�t� B orrower for�he excess funds in a�cordance vvith RESPA. If there is a shor�age of Funds held in escrow,as defin�d under RESPA,Lender shall natify Borrov�er as required by RESPA,and Borrower �hall pay to Lender the amount necessary ta make up the shortage in accordance with RESPA,but in no more�han �2 monthly paymen�s. If there zs a deficienc�of Funds held in escrovv, as defined under RESPA,Lender shall nat�fy Borrower as required by RESPA, and B�rrower shall pay ta Lender �he amount necessary to make up th�deficienc�in accordance with RESPA,but in no more than I2 rnon�hl�paymen�s. Upon payment in fui�af all sums secured by this Security Instrum�nt,Lender shail pramptly refund to Borrower any Funds held by Lender. 4. �ha�'ges; Li�ns, Borr�wer sha�I pay a11 taxe�, assessments,charges,fines,and impositions attributable�o the Property which can attain priarit�over this Security Instrumen�, leasehold payments ar ground rents ori the Praperty, if any, and Community Associati�n Dues,Fees,and Assessments, if any. To the exten�that these items are Escrow Items,B�rrower sha11 pay them in�he manner provided in Section 3. � B�rrawer sha11 promptly discharge any lien which has priority aver this Securit}�Ins�rument unless B orrower: �a�agrees in writing to the paymen�of the obligation secured by the Iien in a manner HCFG-0�7Q3 � 2��$82�j6'�6�'�2 FHA�ee�of Trust-NE 913Q12414 Ban�Cers 5ystemsT�'VMP� �� Walters Kluwer Financia[Sarvices 2�'f 6'i�1915.3.2.35fl9-J201607Z1 Y Page 5 af 15 � i