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. 2� 17� 1479
<br /> �f Lender receives a payment fram BQrrow�r for a delinquen� Periadic Paymen� �hic�a inc�udes a
<br /> sufficient amounti �o pay any late char�e due, �he pay�.nen�m.ay be app�ied�a �he d��inquent payment
<br /> and the la�e charge. If more than one Periadic Paymen�is auts�and�ng,Lender may app�y any pay�nen�
<br /> recei�ed from Barrow�r �o thc repayrnen� of�he Periodic Payments if, and to �he ex��nt that, each
<br /> pay�ncnt can be paid in fu��. To th�ext�nt that any excess exis�s after�he payment�s appl�ed to the fu11
<br /> pa�ment of one or morc Pcriodic Payments, SUG�.1 ex�ess may be appl�ed �o any lat� charges due.
<br /> Voluntar� prcpayments sha11 be applied f�rs� �o any prepaym�n� charges and then as described in the
<br /> Note.
<br /> Any applica�ion of pay�nen�s, insurance proceeds, ar Miscellaneous Proceeds to pr�ncipal due under
<br /> �he Note shal�not extend ar postpone the duc dat�,ar change the amount of the Periodic Paymen�s.
<br /> 3. Funds for Escr�w Items. Barrower sha11 pay to Le�der on the day Periodic Payments ar� due under
<br /> the No�e, until�he Note is pa�d in ful�, a sum�the "Funds"}�Q provide for paymen�af amoun�s due for:
<br /> (a} taxes and ass�ssmen�s and o�her�tems wh�ch can at�ain priorit� o�er�his Security Instrum�nt as a
<br /> 1�en or encumbrance on the Proper�y; �b} 1eas�hold paymen�s or ground ren�s on�he Property, if any;
<br /> �c� premiums for any and a1� insurance requ�red by Lender under Sec�ion S; and �d} Mor�gage
<br /> �nsuranc� prerniums, if any, or any sums payable by Borrawer �o L�nder �n lieu of�he payment of
<br /> Martgage Insurance pr�miums in accardance�vi�h the provzsz�ns of S�ction ��. These items are called
<br /> "Escrow Items." At origina�ion or at any time dur�ng �he �erm of�hc Loan, Lender ma� require that
<br /> Comrnun�ty Associa�ion Dues, Fees, and Assessments, if any, be escrow�d by Borrov�er, and such
<br /> dues, fees and asscssmen�s shall be an Escrow Item. Borrower shall promptly furnzsh �o Lend�r a�l
<br /> no�ices af amoun�s to be paid under this Sec�ion. Borrower shall pay Lender �h� Funds for Escraw
<br /> Items �1ri1�55 Lender wai�es Borrower's obligation tfl pay the Funds far any or al� Escrow Yt�ms.
<br /> Lender �nay wai�e Barrower's obligat�on to pay to Lender Funds for any or all Escrov�r �tiems at any
<br /> time. Any such waiver may anly be in writing. �n �hc �ven� of such wai�er, Borrawer shall pay
<br /> direc��y, v�rhen and where payabl�, the amounts due far any Escrovv Items for which paymen�of Funds
<br /> has been waived by Lender and, if Lender requires, shall furnish �o Lender rece�pts e�idencing such
<br /> paymen�within such�ime per�od as Lender may requ�re. Borro�ver's obl�gatxon to make such paymcnts
<br /> and�o pro�ide receipts shall for ai1 purposes be deemed to be a co�cnan� and agreement cantained in
<br /> this Security �ns�rument, as the phrase "co�enant and agreemen�" is us�d zn Sectzon 9. If Borrower �s
<br /> ob�igat�d ta pay Escro�v�:tems direc�l�,pursuant to a�va��er, and Borrawcr fails�o pay the amoun�due
<br /> far an Escrow I�em,Lender may exercise i�s rights und�r S�c�ian 9 and pay such amoun�and Borrawer
<br /> shall then be abligated under Sect�on 9 �o r�pay to Lend�r any such amaunt. Lender may revok� the
<br /> waiv�r as to any or aI1 Es�raw�tems a�any�ime by a notic�given in accordance w��h Sec�xon �5 and,
<br /> upon such revocation, Borrower shall pay to Lender all Funds, and �n such amoun�s, �hat arc �hen
<br /> requ�red under this S�c�ion 3.
<br /> Lender may, a�any time, collect and hold Funds in an amount�a} suffici�n�to permi�Lender�o appiy
<br /> �he Funds a�the time specified under RESPA, and�b�na��o exceed�he maximum amount a lender can
<br /> requ�re under�.ESPA. Lender sha11 estima�e the amoun�of Funds due�n the basis of current datd and
<br /> reasonable est�mat�s of expendz�ures of future Escrow Ite�r�s ar o�herw�se in accardanc� v�i�h
<br /> Applicable Law.
<br /> The Funds shall be held in an inst�tutiion whose deposits are �nsured by a fedcral agency,
<br /> ins�rumen�ali�y, or �nt��y �zncluding Lendcr, if L��nder is an inst�tution whose depasi�s ar� so insur�d}
<br /> or �n any Federal H�me Loan Bank. Lender shal� apply the Funds �o pay �he Escrovv ��ems na �a�er
<br /> �han the �ime spec�fed unde�•RESPA. Lendcr shall nat charge Borrower for ho�d�ng and applying�he
<br /> Funds, annually analy�ing the escrow ac�oun�, ar verzfyzng the Escrow �tems, un�ess Lender pays
<br /> Borrower in��rest on�h�Funds and Applicab�e Law permits Lender�o Ynake such a charge. Unless an
<br /> agreemen�is made in vvr��ing or Appli�abl�Law requ�res xn��res��o b�pa�d�n th�Funds,Lender sha�l
<br /> na�be required�o pa�Borrower any in�eres�or earning��n�h�Funds. Borrovver and Lender can agr�e
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