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<br /> L�AN#: DC5�NB?�3'[7'46?8
<br /> �. A�ap��c�t�or� �f IPa�r���ts �r �rvc��ds. �x�e�t as ath��wise d�scribed in thi� Se����n �, a�[
<br /> ���rnents accept�d and �p�Oli�� by �.e�de�shall b�applied in th�fo!lo�rrng �rder o�priarity: �a} i��ere��
<br /> due und�r��e N��e; ����rinc�pal du�u���r�h�No�e; ��}arn�un�sdu�ur�d�rSec�i�n 3. �uch p��rmen��
<br /> sha�l h�a�p�i�d t��a�h �eriodic�'�ym�n�i����or��r i��rui��ch ��b�cam��due.An�r�maining�maur��s
<br /> s���� b��p���ed f�rs��� ���e �har���, seco�d �o an� o���r am�un�s due u�d�r�h�s S�curit� Insfir�umen�,
<br /> and�h�� �o r�duc�t�e princi��� b�l�n��of f�e N�fie.
<br /> �f Le�d�r rec�iW�s a pa��en� �r��m Bo�r�v��r far a delir�qu�n� Peria��c Pay�nent�rh�ch inc�udes a
<br /> suffi�ient am��nt tn pay an�la��cha���d�e,�h�paym�n�r�nay be�pp�i�d���h�de[�n��en��aaym�n�and
<br /> �he la�e cln�rge.�f��re fhan an�Per�adic F'ayrnen�is auts�ar�d���,Lender ma�ap�Ol��n�p��rme��r�c�ivcd
<br /> fr�m Borrorn��r�o���r�pay��nt�f�he�'eriadic P�ymen�t�if, and���he�x�en��hat, �ach payr�ent ca�k�e
<br /> paid �n fu[[.�`�v the�xt�nt tha�a�y��xces�e��sts a�fter�i�e paymen�is a�p���d t��he f��!paym�nt af a��or
<br /> mo�� Periodi�P��m�n��, su�F� �x��s� m�y ���ppl�ed�a an� ���e c�arges du�.�Jv��ntan� p��pa�men�s
<br /> s�a�l b�ap�l�ed f�rs��a an� p��pay�en��harg�s and �h�n as�escr�b�d in t�e �V���.
<br /> A�y�ppfic��iar�of pa�m�n�s,ins����ce pr�vice�ds,a���sc�lfaneou�Prvice����o princ�pa!d�e��d�r
<br /> the No��shai[ no�exter�� �r����p��e�h���e da��, or chang�t�e am�u�t, �f�h� Pe�iad�c P�}�m����.
<br /> 3. ��r�ds f�r E��rv��t�r�s. �a�ra��r s�al�p���o L�nde��n�he da� F�er�adic�'ay�n�nt�ar�due
<br /> under�he h�ot�, �n����h� �v�e i�p��� �n fui�, ������he"�unds"�to p��vi€�e for a�ym���af am�ur��s du�
<br /> f�r: �a�t�xes an�ass�ss�en�s ar�d o��e�i�enns�hich c�r��t�a�n priorit�r��er�h�s Se�ur�ty�nstr�m��n�as
<br /> a lien ar encumb��n�e vn ��e �r�p��y; ��� I�as�ho�d ��}��en�s ar gr��nd ��nt�on th� Praperty, �f an�;
<br /> ��}pr��iums for�r��and al�insu�an��r�qu�r�d by L.�nd�r ur�de���ction 5; and �d}�o�t���g��r�s�ranc�e
<br /> pr�rr�iu ms,�f an�1,�r ar��sum�paya���by�QrrQvv�r�o Lender i��i�u�f�h�pa��n�nt af�Il�vrtg�ge I r�su ra�n�e
<br /> �remium� �n ac�orda��e v�i�h �h� �rovi�i�ns �f S��ti�n '��. Th�s� i��ms a�� �al�ed "�scr�w lfi�m�."At
<br /> ari�ina�ian �r a�any��me d�ring�h���r� of�h� ��an, �.en�er�a� require�hat Cammuni�y AssQci���on
<br /> Q��s, F�e�, and Assessmen�s, if any, be escrav��d�y�orrar�r�r,and such d�es,fe�s�nd assessm�n��
<br /> sha��b�an�scrav���ern.�3�rrar�r�r sha��p��rr�p�i��urn��h��L�n�er all no�ic��af��o�n�s fi��e���d u�d�r
<br /> �h�� �ecfi��n. ��rro��r sha�l pa� Lend�er�ne Fur�ds for Es�r�v� ���ms unle�s Ler�der�ai��s �3arrv���'�
<br /> o��ig��i�r�f� pa��he F����fo�a���r a�[ Es�ro����rn�. �.E�d�er ma��nrai���3orrau�er'S�b�igati�r����ay
<br /> �� Le�d�r Funds f�r an�or al� Escr��r Ite�s a�any�ime.A�y�u�h waiver may an�y be in�ri�i�g. lr��he
<br /> �r�enfi of�uch �►a�v�r, Borr���r�h�i� pa� di�ec��y, r�uh�n a�d �h�re pa��b��, ��e amour�ts �u� f�r��y
<br /> Escr�� �t�ms for�r�ich paymen� �f F�nds h�� be�r� ��i�red by Lend�r a�td, if Lender r�quir�s, sh��l
<br /> furnish �a Lender r�c�ip�s �vid�ncing su�h p����r�����hin suc� ti�� p�e��od as Lender may ��q��r�.
<br /> B�rr��er's ab�i�a�ivn��mak��ucl� p�y�nents ana��v pr�vid�eec�ip��sh���for a�l p�rposes b��eemed
<br /> �a �e � covenant �nd a�reemer�� �on�ai�ed 'rn ��is 5�c����y ��strumer��, a� the phrase "co�e�ar�� ar�d
<br /> agre�m�n�'' is used in Sec���� �. �� B�rr�w�r is �obl�ga��d �o pay Es���vv ���ms d��ecti�r, pursuar��ta a
<br /> v��iv�r, �nd �or���er fai[s �� p�y �h� a�ou n���ae �vr an Es�ro�r �te�, Lend�r ma}� ex�r�ise i�s r�g��s
<br /> under����ian 9 ar�d p�y s��h a��un�and B�rro►�rer s�aii ��en be v�liga�ed und�r S�c���n � �o r�p�}�
<br /> ta L�nd�r�n}��uch���ur��. L�n�er may re�r�k�e th�����r�r as�o�r�y ar�i� E�cro���ems a�an�r�im�by
<br /> a n���c�gi��� in a�ca�d�n�e�►i�h S�c�iar� �5 a�a, u�o� ���h reWaca�i�n, Sorro��r sha�� pay�� Le�der
<br /> al� �unds, �nd in su�� a�a�r��s, �h�f�re t�er� r��u�re�d €ar�d�r�h�s Secti�n 3.
<br /> L�nder nna����ar�}�i��,cofl���and ho�d Fur���in an amoun���}s�ff�c��nt t���rm��L�nder��apply
<br /> �he�und�at�������s��c����d u�������P�, �nd �b}�v�f�ex�e���h�r��x�r�tu�n a�Q�n�a��nd�r ca�
<br /> ��qu�r� �r��er�ES�'�. Lend�r��a�f�sti�a���he�mou���f Fu�ds du�on the bas�s�f curr���da�a�nd
<br /> �ea��n�bl�e��i�a���of�xpen�[��ar�s of fi��u��Es�r�v����ms�r o�h��t�s��r��ccord�n�e�v��h Ap��ic�b�e
<br /> La�nr.
<br /> T��Fun�s sha[�b�h��d�r��n��s�i���i�,�v�h�s�d�pa�����r�ir�sure�d by a fed���l agency,ins�rumenfiali�y,
<br /> +�r en���y ��n�c�ud�ng L�nd�r, �f Lender is a� �n��i���io�v�h��� d�pas��s are so �r�sur�d� �r in any Fed�r��
<br /> H�m�L�a� ��nk. L�nd��shafl a�p��'���F�ndsta�ay�n�Escr�u�r���rns n�la�e�than�h��ime�pe�ified
<br /> �nder RESPA. Let�d�rsh�il n��charge Borra���far�tald��g�nd appl�ing���Funds,annuall��nal�zing
<br /> �he e�cro�ac��un�; o��r�rif�ing�he E�cr�������, ur��es� Lend�r p�ys ���rv�er interes�on��� F�n�s
<br /> anal Appl�cab�e La�pe�m��s ���der�o�n�k�s�ch �char��. Un�ess an agr��m�nt is rna�e ir��ri��n� or
<br /> �pp�icab�e Lavv req��re�i�ter�s��o b��aid �r���� Fun�s, L�n�er sh��� ���b� required�a p�� ��r����r
<br /> an�in��rest�r�arnings on�he Ft�nd�. �orr���r and L�nde�can a�r��ir��rri�ing, h��v�v�r,t�a��nt�r��t
<br /> sha�� �e p��d on t�� Fu��s. L��der s�al� g�v�fi� Borro�e�,�i��ou�charge, an annu�l accvunting of�he
<br /> Funds a� r��uired �t� R��PA.
<br /> �f�her� �s a surpius af Fu�ds he�d rn es����, �s defined under� R��PA, Lender sha�l ac�ount �o
<br /> �orr��r�r f�r�he ex�e�s fund�ir�accorda�c��vith �ES��. !f fh�r�is a�h�r��ge af Funds held�n�scravv,
<br /> �s defin�d und�r RE�P�1, Le�der�h�i�nQ�if��o�ro�er�s��quired by RESPA,and�orr�wer�ha��pa�fi�
<br /> L�nde���e amou��n���ss����r�ake u��he�hor#�g��n����rdanc����h F�E�PA, bu��n nv mare�han
<br /> ��man�hl��a�trn�n�s. 1f���re��a def�ci�ncy of Fu��s��i�in��crvv�, �s�ef[r�ed und�r R��P�4= �.�nd�e�
<br /> sha�i no�if� Borr����as ��quir�d �� �E�F�4, a�� �3�rr����sha�� p�y �o Lender�h� �m�u��n�c�ss��
<br /> �a m�ake up���defici�nc� �r� acc�rdan�e�nrit� ��5�'�, bu�ir� n� rr�or��han �� m�n�h�y p�yn��r���.
<br /> �p�n �a�1�en�in full af al�su�s s���r�� �y this S��uri�y �r�s�rurn�n�, L�nder�hal� promp�i� refUr�d
<br /> �� Barra��r an� �unds hel� b� L�n��r.
<br /> 4k �������� l.���s. B�r�v��r s�a�� pa� ��� �a�c�s, �ss���rn�r��s, c��r��s, fines, and irn��si�ions
<br /> a��r�but�b[���th� F�r�p�r�y�rv�ic� �a� ��a�n �ri�ri� o�r�r�his ��cu��� �ns�rume��, �e���h��d p���ents
<br /> h]EBRl�5��4--Single Fami�y--Far���e i�laelF�ed����ac v�iF�r`��I��TR�J�1�lENT Farrn 3a�8'�d�3�
<br /> El�ie Mae,lnc. P��e 4[3f 1'� fVEEC�EED �3'1�
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<br /> � D41'�31�D 17 Q9:46�IM PST
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