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2� 17�� 148
<br /> Any applica��on af paymen�s, insuranc�proc�eds, or Misce��ane�us Pro�e�ds �o princ�pal due und�r the No��
<br /> s�a11 n��exfiend or postp�ne�he due da�e, ar char�ge the a.�mount, of th� Period�c Paymen�s.
<br /> 3. Funds for�s�row It�mrs. Borrower sha��pa�r ta Lender an the�.ay Periodi�Paymen�s are due under�he
<br /> Note, un�i�the Nate is pa�d in ful�, a sum(�he "Funds"}�a provide far payment of amounts due far: �a}taxes
<br /> and assessm�nts and a�her�tems which can at�ain pr�ori��over�his �ecur�ty Ins�rum.�nt as a l�en or
<br /> encumbran��an the Property; �b} leas�hold payments or ground rents on the Proper��r, if any; �c}pre�niums
<br /> fnr any and a�� insurance required by Lender under Sec�ion 5; and (d} Mor�gage Insurance premiurns, �f any,
<br /> or an�r sums payable by B�r�row�r�a L�nder xn Iieu of the payment�f Mor�gage�nsurance premiums in
<br /> accordance with t�e provisians of Section �0. T�.ese��ems are ca��ed "�scrow Items." At�riginat�on or a�
<br /> any t�me dur�ng�he�erm af the Loar�, L,�nder n�.a� require�hat�ommun�ty Assoc�a�ion l]ues, �ees, anc�
<br /> Assessments, if an�, b�escrowed by Borrow�r, and such du�s, fees ar�d asses�men�s shall b�an Es�row
<br /> ��em. Borrower sha��pr�mp��y furn�sh�o L�nder a�� noti�ces�f amoun�s to be paid under this Sec�.ion.
<br /> Borr�w�r s�a�l pay Lender the Funds for Es�row ��ems u�al.ess I.�nder wa�ves Borrawer's ob�igati�n�o pa�r
<br /> �he Funds far any ar aI� ��cro�v I�ems. L.ender ma�vvaive Borrav�er's obl�gat�on�a pay�a Lender Funds for
<br /> any�r ali Escrow��en�s at any t�n7e. �11ny such waiver may only be�n wr�ting. �n the e�rent of such waiv�r,
<br /> B�rrov�rer sha��pay d�rect�y, when and where paya��e, the amoun�s du�for an��scraw ��ems far whxch
<br /> payment of Funds has been wai��d by Lender and, if Lender r�quires, sha��furnish t� I.�nder receip�ts
<br /> e�idencing such�aymen�w�thin such time per�od as Lender ma� require. Borrower's o��iga�ian�o make
<br /> such paymen�s and�a prov�de receipts shal� far aIl purposes be deem.ed ta be a cov�nant and agreemen�
<br /> conta�ne�i in this Secur�ry Ins�rumen�, as the phrase "�avenant and agreement" is used in Sec�ion 9. �f
<br /> Borrower is obligat�d to pa�r Escrow �tems d�rectly, pursuant�o a wa�ver, and Borrower fa�ls��pa�the
<br /> amount due for an Escrow �t�m., I,ender ma�e�ercise its rights under Section� and pa� such amount and
<br /> Borrower sha�l then b�obligated und�r Sect�on 9 to repay�a Lender any such am�unt. Lender may rev�ke
<br /> �he wa�ver as�o any or all Escrow �tems at an�time by a n�tice gi�en in accardance wi�h S�ction �5 and,
<br /> upon such re��cati�n, Bflrrower shall pay�o Lender aI� Funds, and �n such amoun�s, that are then requ�red
<br /> under this �ec�ion 3.
<br /> Lender may, a�an�tim�.e, c�llect and hold Funds in an an�.ount�a} suffic�ent to permit Lender�o appl�the
<br /> Funds at�he time specif�ed under R�SPA, and�b}not�o exceed�he max�mum amount a l�nder can requxr�
<br /> under RESPA. Lender sha�� es�imate�h�am�un��f Funds due fln�he basis of current data and reasonable
<br /> �s�xmate�of e�pendi�ures af future Escrow ��em�s or otherwise�n accordance v��th Applicabie La�r.
<br /> The Funds sha��be held�n an�ns��tu�ifln whose deposits are insur�d by a federal ag�ncy, instrumen�a��t�r, �r
<br /> enti�� ��ncluding L,end�r, if Lender is an inst��ufi�on whose deposits are so insured}or�n any F�dera� Hame
<br /> Laan Bank. I�nder shali app�y�h� Fund� ta�ay th.e Escrow �t�ms no�ater than�he�ime specif�ed und�r
<br /> RESPA. Lender shall na��harge Borrower for holding and apply�ng the Funds, anx�.ually anal�zing the
<br /> escrow acc�un�, ar verify�ng th�Escrow �tems, unl.ess Lender pays Borrow�r interest�n the Funds and
<br /> App�icable Law permi�s Lender��m.ake such a charg�. L�n�ess an agreernent�s made�n wr���ng or
<br /> App�icable Lavv requires in�eres�ta be pa�d on the Funds, I.ender shal�not be required�o pay Borrawer any
<br /> �nterest ar earnings on the Funds. Borrawer and Lender�an agree in writ�ng, however, �ha�interes�shall be
<br /> paid an th�Funds. L�nder sha11 give�.o Borr�wer, wi�hout charge, an annual account�ng af�he Funds as
<br /> r�quired b�R�SP�,
<br /> �f ther�e�s a surplus of�unds he��i in escrow, as def�ned under RESPA, Lender sha�� ac��un�to Borrav�er far
<br /> �he e���ss funds�n acco�dance w�th RE�PA. If t�er��s a shor�age of Funds he�d in�scrow, as de�ned under
<br /> �.�SPA, �ender sha.��notify Borrovver as requ�red by RESPA, and Barrower shal�pay�fl Lender�he amoun�
<br /> necessary�o mak�up�a.e shvrtage�n accardance with R.�SPA, bu� in no more�han ��month��r paymen�s. �f
<br /> ther��� a def���en�y of Funds�eid�n escrow, as defined under R.ESPA, Lend�r sha�� no�ify Borrnv�rer as
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