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• � 2� 17� 155�
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<br /> any, has beeti revoked, and I have b��n advised af th� amount needed to fully fund my escro�r
<br /> a�count.
<br /> E. Funds for �scrow Items, I wi�� p�3� to Len�er an the day payments are due under the Loan
<br /> Da�ume�.ts as amended by this Agf�ement, until the Loan is paid in ful�, a sum �the "Funds"} to
<br /> proWide f�r paymenfi of amaunts due far: �a}tax�s and assessments and u�her items which�an a�tain
<br /> priarity over the Mor�gage as a l�en or encumbrance on the Property; {b� leasehald payments ar
<br /> ground rent� an the Property, if an}�; �c� pr{emiums for any and all insurance reauired by Lender
<br /> under the Uaan Documents; �d} mvrtgage insurance premiums, if any, c�r any sums payable to
<br /> Lender i� lieu of �he pa�ment of r�ortgage �nsurance premiums in aecardance with the Loan
<br /> Documents;and�e}any cammun�ty ass�ciatian dues, fees, and a.ssessmen�s that Lender requ�re� tia
<br /> be escro�ved.These items are ca�led"Es�rovv Itiems." I shaii promptly furnish to Lender all notices
<br /> af amounts to be paid under this 5ection. I �hall pay Lender the Funds far Escrow Items unless
<br /> Lender wai�es my obliga�Yon fo pay the Funds for any❑r a[1 Escrow Items. Lender may wai�e my
<br /> abligati�n �a pay to Lender Funds far any or a!1 Escr�w�tems at any �ime. Any such �vai�er may
<br /> on�y be in �riting. �n the e�ent of such wai�er, I shall pay direct�}r, wher�and vvhere payable, the
<br /> amounts due for any Escraw Ytems far�rh�ch payment of Funds has be�n�raived by Lender and, if
<br /> Lender reRuires, shall furnish to Lender teceipts evidenc�ng such payment within such time period
<br /> as Lender may require. My obligation ta m�lce such paymen�s and�o pra�ide receipts shall for all
<br /> purpases be deemed to be a coWenant and agreement contained in the L�oan Documents, as the
<br /> phrase"et��renant and agreement" is use� in the Loan Documen�ts. If I a�n abligated to pay Escrow
<br /> �tems di�-ectl�, pursuant to a waiver, and i fai I to pay the amount due fQr ar�Escrow Item, Lender
<br /> may exeecise its rights under the Lo�n Documen#,s and this A�reement and pay such amount and I
<br /> sha�l then �e obiiga�ed to repay to L�nder any such amount. Lender ma� revoke the waiver as to
<br /> any or a�l�scraw Ytems at any time b�a natiee given in accordance with��e Loan Documents,and,
<br /> upon such�evocation, I shall pay to�.�nder a��Fun�s, and in such amo�nts,that are then reauired
<br /> under this s�ction.
<br /> L�nder ma�, at any tim�, coll�ct and h�ld Funds in an amount �a� suff cient to permit Lender to
<br /> apply the F�nds at the time specified�n�ler the R�al Estate Settlement PrQcedures Act�"RESPA"},
<br /> and 4b� nat �a exceed the maximurr� amount a iender can require under RESFA. Lend�r shai�
<br /> estimate t�e amount of Funds due ��� the basis of current dafa and reasanable estimates of
<br /> expenditures of future Escrow Items�r otherwise in accordance with applicable law.
<br /> The Funds shall be held in an instituti�n whose deposits are insured �y a federai agency,
<br /> instrumenta�ity, or enti�ty �including L�nder, if Lender is an institution whose deposittis are so
<br /> insured}ar in any Federal Hame Loan Bank. Lender shail apply the Funds�o pay the Escrow I�ems
<br /> nn later than the time specified under 1ZESPA.Lender shali not charge me for holding and app�ying
<br /> the Funds, anr�uall� ana�yzing the escrow account, or �erifying �he Escrow Items, unless Lender
<br /> pays me in�erest on fhe Funds and appiicable law permi�s Lender to make such a charge. Unless an
<br /> agreement is made in writ�ng or applicable lavrr reyuires in�erest t� be paid on the Funds, Lender
<br /> shaII not b� requ�red to pay me an}� interest ar earnings oi� the Funds. L�nder and I can agree in
<br /> writing,ho�rever,that interest 5ha11 be paid�n the Funds.Lender shall pra�ride me,without charge,
<br /> an annua�aG�ounting of the Funds as required by RESPA.
<br /> �f ther�Ys a surp[us of Funds held zn�s�rorW,as defined under RESPA,L�ender shall account to me
<br /> far the excess Funds ii� accardan�e wit� RESPA. If thece is a shQrtage of Funds he�d in escrvw, as
<br /> defned under R.ESFA, Lender shall natif�me as required by RESPA,and I shall pay to Lender the
<br /> amaunt necessary to make up the shartag� in accordance ►�rith RESI�A, �ut in no more than l2
<br /> �el�s Farg¢Custom FH�Hvme Af�'ordable MvdiFcation Agreerr�ent �p8 I������������
<br /> 1���2n16 445
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