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2� 17��491
<br /> Any app�ica�ian af payments, insurance praceeds, or M�sce��aneaus Proc�eds to pr�ncipal due under�he Note
<br /> shall no�ex�end ar pas�pane�he due dat�, or change�he amaunt, of�he Periad�c Pa�ments.
<br /> �. Funds for Escraw Iterns. Borrower sha�l pa�to Laender on the da� Period�c Paymen�s are due und�r the
<br /> Nate, unti� the Note�s paxd in fu.��, a sum��he "Funds"} to provide for pa�ment�f amoun�s due for: (a� �a�.es
<br /> and assessm�en�s an.d o��.er items wh�ch can at�ain priorit�o�rer�h�s Security Instrument as a lien or
<br /> encumbranc�on�h�Proper��; �b} �eas�hold paymen�s or graund ren�s an the Praper�y, if any; �c�premiums
<br /> for any and al� �nsuran�e requ�red by Lend�r under Sec�i�n 5; and�d} Mortgage Insurance premiums, �f any,
<br /> t�r any sums pa�rabl�by Borrower�� Lender in Ii�u of the payrnent of N�ortgage Insurance premiums in
<br /> a�cvrdance�vith�he pro�isions�f�ect�on ].D. Thes���ems are ca�ied "Escrow �tems." At origxnat�on or at
<br /> any��m�.e during the�erm of the Laan, I.�n�er may requ�re�hat���rnmunity Association I]ues, Fees, and
<br /> Assessments, �f any, be escr�w�d by Borr�wer, an.d su�h du�s, fees and ass�ssmen�s shal�be an�scrovsr
<br /> Z�em. Borrower shal�promptly furnish�o Lender a��nflt��es of amaunts�o be pa�d under�his Sec�ion.
<br /> Borrovver shali pay L�nder the Funds for Escrow �tems un�ess Lender waives Borrov�r�r's o��igatian�o pa�
<br /> the Funds for an� �r alZ Escrflvv ��ems. Lender may wa�ve Barrovver's obligation to pa�r to L.�nder Funds f�r
<br /> an�r or a�� Escrow ��ems a�any time. Any such waiver may on�y�e�n writ�ng. in t�e e��n�of such v�rai�ery
<br /> B�rrow�r shali pay dire��ly, when and wh�re payab�e, the amounts due f�r any Escrovv I�ems f�r vvhxch
<br /> pa�ment�f Funds has beeri�vaxved by I..�nd�r and, �f Lender requires, sha�l furn�sh�o I.�nder re�e�p�s
<br /> �videnc�ng suc�payment w�th�n such time period as L�nder may require. Borrovver`s ob��ga�i�n�a make
<br /> such pa��nen�s and�o pro��d�rece�p�s sha��far a11 purpflses be deemed�o be a cov�nant and agreemen�
<br /> �nnta�ned�n���s Security Ins�rumen�, as the phrase "c��enant and agreem.en�" �s us�d in Section 9. �f
<br /> Borrovver is�b�igated ta pay Escrow It�ms directi�, pursuan�t�a waiver, and Bnrr�vver fa�1s to�ay�i�
<br /> amaunt due f�r an Es�rovv �tem, Lend�r may e�ercise its righ�s under S�cti�n 9 an.d pay such amount and
<br /> B�rrower shall�h�n be a��igated under Sec��on 9 to repay to I.�nder any such amount. Lender m�ay revoke
<br /> the waiver a�to any or a�l Escrow ��ems at any�im.e by a not�ce�iv�n�n accorda�ce wxth Sec�i�n �5 and,
<br /> upan such re�o�a�xon, B�rrov�rer sh�i.�pay to Lender a�� Funds, and in such amounts, �hat are�hen requ�r�d
<br /> under�his Sect�on 3.
<br /> Lender may, at any time, c�ilec�and hold Funds in an amoun��a} suf�cien�ta perna�t Lend�r to apply the
<br /> Funds at�he��m�.e specified under RESPA, and (b}no��o�xceed the maximum amoun�a�ender can require
<br /> under RESPA. Lender shal�es�ima�e�he amflunt of Funds due�n the bas�s of current da�a and reasonable
<br /> es�imates of�xpend��ures of future Escrow ��em�.s or a�herwise�n acc�rdance wi�h Applicable Law.
<br /> The Funds sha��be he�d�n an�r�stitu�xfln wh�se depas��s are xnsured by a federal agency, �ns�rument�Iity, vr
<br /> ent��y(�nc�ud�ng Lender, �f Lender�s ax��nstitution whose deposits are so insured} or in any Federa� �onle
<br /> Loan Bank. Lender shall app�y th�Funds�o pay�he Escrow Items no la�er�han the t�me specif�ed u�.der
<br /> RESPA. Lender shal�n�t charge Barrower far holding and apply�ng�he Funds, annually anaiyzing the
<br /> escrow accoun�, or�er�fying�he Escrow ���ms, un�ess Lender pays Borrower�n��rest on the Funds and
<br /> App�ical��e Law perrnits L.�nder to make such a charge. Un�ess an agreemen�is made in wr��ing or
<br /> App��cable L.aw requ�r�s �n�eres���be paid�n the FUnds, I..�nder shal��aot�e required��pay Borrow�r an�
<br /> in�eres�ar earnings on the Funds. B�rrflv�er and Lender can agree�n wr�t�ng, h�wever, fhat�n�erest shal�be
<br /> paid Qn the Funds. L.ender shall g����a Borrow�r, �v�thaut charge, an annuai accounting af�he Funds as
<br /> requzr�d�y RESPA.
<br /> �f there is a surp�us of�unds he�d�n escrow, as de��ed under R�SPA, L.�:nder sha�� accoun��n Borrower for
<br /> the e��ess funds in ac�ordance w��h RESPA. �f there is a s��r�ag��f Funds held in escro�r, as defin�d under
<br /> RESPA, Lender sha�.�not�fy Borrav�er as requ�red by RESPA, and Barrower sha��pa� �a Lender�he amoun�
<br /> ne�essary to ma�e up�he sh�r�age�n accardance w��h RESPA, bu�in no m.are�han l.�mon�hl�pa�men�s, �f
<br /> �here�s a defic�enc�of�ur�ds he�d in escrow, as de��ed under RESPA, L�nder sha��no��fy Borrourer as
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