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200105157
<br />premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
<br />Insurance premiums in accordancewith the provisions of Section 10. These items are called "Escrow
<br />Items." At originationor at any time during the term of the Loan, Lendermay require that Community
<br />Association Dues, Fees, and Assessments,if any, be escrowed by Borrower, and such dues, fees and
<br />assessmentsshall be an Escrow Item. Borrowershall promptlyfurnish to Lenderall notices of amountsto
<br />be paid under this Section. Borrowershall pay Lenderthe Funds for Escrow Items unless Lenderwaives
<br />Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's
<br />obligationto pay to LenderFunds for any or all Escrow Itemsat any time. Any such waiver may only be
<br />in writing. In the eventof such waiver, Borrowershall pay directly, when and where payable,the amounts
<br />due for any Escrow Itemsfor which paymentof Funds has beenwaived by Lenderand, if Lenderrequires,
<br />shall furnish to Lenderreceiptsevidencingsuch paymentwithin such time periodas Lendermay require.
<br />Borrower'sobligationto make such paymentsand to provide receiptsshall for all purposesbe deemedto
<br />be a covenantandagreementontainedin this Securitylnstrument,as the phrase "covenantand agreement"
<br />is used in Section 9. If Borroweris obligatedto pay Escrow Items directly, pursuantto a waiver, and
<br />Borrowerfails to pay the amountdue for an Escrow Item, Lendermay exerciseits rights under Section9
<br />and pay such amountand Borrowershall then be obligatedunder Section 9 to repay to Lenderany such
<br />amount. Lendermay revoke the waiver as to any or all Escrow Items at any time by a notice given in
<br />accordancewith Section 15 and, upon such revocation, Borrower shall pay to Lenderall Funds, and in
<br />such amounts, that are then required under this Section 3.
<br />Lendermay, at anytime, collect and hold Funds in an amount(a) sufficientto permitLenderto apply
<br />the Funds at the time specified under RESPA, and (b) not to exceedthe maximumamounta lendercan
<br />require under RESPA. Lendershall estimatethe amountof Funds due on the basis of current data and
<br />reasonableestimatesof expendituresof future Escrow Items or otherwise in accordancewith Applicable
<br />Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency,
<br />instrumentalitypr entity (includingLender,if Lenderis an institutionwhosedepositsareso insured)orin
<br />any FederalHomeLoan Bank. Lendershall applythe Funds to pay the Escrow Itemsno laterthan the time
<br />specified under RESPA. Lendershall not charge Borrowerfor holding and applying the Funds, annually
<br />analyzingthe escrow account,or verifying the Escrow Items, unless Lenderpays Borrowerintereston the
<br />Funds and ApplicableLaw permitsLenderto makesuch a charge. Unless an agreemends madein writing
<br />or ApplicableLaw requiresinterestto be paid on the Funds, Lendershall not be requiredto pay Borrower
<br />any interest or earnings on the Funds. Borrowerand Lendercan agree in writing, however, that interest
<br />shall be paid on the Funds. Lendershall give to Borrower, without charge, an annual accountingof the
<br />Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to
<br />Borrowerfor the excess funds in accordancewith RESPA.If thereis a shortageof Funds held in escrow,
<br />as definedunderRESPA,Lendershall notify Borroweras requiredby RESPA,and Borrowershall pay to
<br />Lenderthe amountnecessaryto makeup the shortagein accordancewith RESPA,but in no more than 12
<br />monthlypayments.If thereis a deficiencyof Funds heldin escrow, as definedunderRESPA,Lendershall
<br />notify Borroweras requiredby RESPA,and Borrowershall pay to Lenderthe amountnecessaryto make
<br />up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon paymentin full of all sums securedby this Security Instrument,Lendershall promptlyrefund
<br />to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributabldo the Propertywhich can attainpriority over this Security Instrument,leaseholdpaymentsor
<br />groundrentson the Property,if any, and CommunityAssociationDues, Fees, and Assessmentsjf any. To
<br />the extentthattheseitems are Escrow Items, Borrowershall pay them in the mannerprovidedin Section3.
<br />Initials
<br />®6A(NE) 10005) Page 5 of 7 5 Form 3028 1/01
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