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290111310
<br />premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage.
<br />Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow
<br />Items." At origination or at any time during the term of the Loan, Lender may require that Community
<br />Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts
<br />to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender
<br />waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive
<br />Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver
<br />may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where
<br />payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender
<br />and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time
<br />period as Lender may require. Borrower's obligation to make such payments and to provide receipts
<br />shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument,
<br />as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow
<br />Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item,
<br />Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be
<br />obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any
<br />or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such
<br />revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under
<br />this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit
<br />Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum
<br />amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis
<br />of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in
<br />accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency,
<br />instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or
<br />in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than
<br />the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds,
<br />annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower
<br />interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement
<br />is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be
<br />required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in
<br />writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without
<br />charge, an annual accounting of the 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 />Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow,
<br />as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay
<br />to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more
<br />than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA,
<br />Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount
<br />necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly
<br />payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly
<br />refund to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which can attain priority over this Security. Instrument, leasehold payments
<br />or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if
<br />any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in
<br />Section 3.
<br />-6(NE) (0005) Form 3028 1 /01
<br />NE3028E (12/14/00) Page 5 of 15 Initials:
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