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200411991
<br />DOC ID #: 0008534121711004
<br />Periodic PaymaM86 such excess may be applied to any late cbugm due, Volutery prepayments shall be
<br />applied Brat to any Prepayment charges and than as described in the Note.
<br />Any application of payments, irmnenee proceeds, or Misoeriaueous Proceeds to principal due under the
<br />Note shall not extend or postpone the due date, or change the amount of the Periodic paymaab.
<br />3. Funds for Escrow Items. Bonower shall pay to Lender on the day Periodic Payments am due under
<br />the Note, until the Nobs is paid in full, a sum (the "Funds") to provide for payment of amounts due for (a)
<br />MM and as&ossuaenta and other items which on attain priority over Ns Security Instrument as a Hen or
<br />encumbrance on the Property; (b) laasehold payments or ground :rots on the Property, if any; (c) premiums
<br />for any and all insurance required by Leader under Section 5; and (d) Mortgage insurance premiums, if any, w
<br />any sums payable by Borrower to Leader in lien of the payment of Mortgage insurance premiums in
<br />accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at say
<br />time during the term of the Loan, Leader may require that Community Association Dues, Fees, and
<br />Assessments, Kam be escrowed by Borrower, and such dues, fees and eatastne nts shah be an Escrow Item.
<br />Borrower shall promptly Aunish to Lander all notices of amounts to be paid under this Section. Borrower shall
<br />PRY Leader the Funds for BOW" Items unless Lender waives Borrower's obligation to pay the Funds for any
<br />or all Escrow items. Lender may waive Borrowers obligation to Pay to Lender Foods for any or all Escrow
<br />Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay
<br />directly, when and where payable, the amounts due for any Escrow Item for which payment of Funds has
<br />been waived by Leader and, if Lender requires, shall flunish to Lander receipts evidencing snob payment
<br />within such time period as Lender may require, Bonowe's obligation to make such payments and to provide
<br />receipts shall for all purposes be deemed to be a covenant and agmemem tcntafued in this Security
<br />instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay
<br />Escrow Items directly, pursuant to a waiver, and Borrower faits to pay the amount due par an Escrow Item,
<br />Lander may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated
<br />under Section 9 to repay to Leader any such amount Lender may revoke the waiver as to any or all Escrow
<br />Itatn at any time by a notice given in accord&= with Section 15 and, upon such revocation, Borrower slay
<br />pay to Lender all Finds, and in such amounts, that are %c a required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) suificieat to permit Lender to apply the
<br />Funds at the time specified under RESPA, and (h) not to exowd the maximum amount a leader can require
<br />under RESPA. pander shall estimate the amount of bands due on the basis of current data and reasonable
<br />estimates of axPMdituros of fits Hicrow Items or otherwise in soco=danee with Applicable Law.
<br />The. Funds shall be held in an institurtfon whose deposits are insured by a federal agency, fnatrwnemtellty,
<br />or amity (including Lender, if Lander is an imdtelion wboae de xWU era so insured) or in arty Fedmal Home
<br />Lean Bank. Lender shall apply the Funds to pay the Becrow Items no hinter then the time specified under
<br />RESPA. Leader shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow
<br />actoum, Or verifying the Escrow Item unless Lander pays Borrower interest on the Fronds and Applicable
<br />Law permits Leader to make such a charge. Unless an agreement is made m writing or Applicable Law
<br />requires interest to be paid on the Phmd% Linder &bell not be required to pay Borrower any interest or eunfnge
<br />on the Funds. Borrower and Lender can agree in writing, however, that Interest shall be paid on the Funds.
<br />Lender shall give to Borrower, without charge, an annual accounting of the Intends as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA. Lewder sball account to Borrower
<br />fa the suss flmda in accordance with RESPA. If them is a shortage, of Ponds hold in escrow, as defined
<br />under RESPA, Lender shall notify Borrower as requited by RESPA, and Borrower &ball pay to Lander the
<br />Amount necessary to make up the she" in accordance with RESPA, but in no more than 12 monthly
<br />Payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Linder shall notify
<br />Borrower as required by RESPA, and Bottulver sball pay to Lender the amount necessary to make up the
<br />deficiency in accordance with RESPA, but in no mare than 12 monthly payments.
<br />Upon payment in fall of all sums secured by this Security Instrument Lender shall promptly mfbnd to
<br />Borrower any Funds held by Lender.
<br />4. Charges; Liao. Borrower shall pay all taxes, weesmouas, charges, Bea, and impositions attributable
<br />to the Property which can attain priority over this Security burr m e t, leasehold payments or ground rents on
<br />the Property, if say, and Community Association Duos, Foss, and Asw%am nts, if any. To the extent that these
<br />items are Escrow Item&, Borrower shall pay diem in the manner provided In Section 3.
<br />Borrower shell promptly dlacbarge any lion which bus priority over this Security hatnanem unless
<br />Borrower: (s) agrees in writing to the payment of the obligation secured by the Ram In a manner acceptable to
<br />Lender, but only so long as Borrower is Performing each 411roamett4 (b) contests the lien in good faith by, or
<br />defends against enforoement of the lien in, low Proceedings which in Lenders opinion operate to prevent the
<br />adorceMM of the lien while those proceedings sue pending, but only until such proceedings are concluded;
<br />or (c) secures from the holder of the Ron an agreement sadsfiotory to Lender subordinating due lien to this
<br />Security Instrument If Lender determines flat any part of the Property is subject to a Ran which can attain
<br />Madly over this Security Instrument Lender may give Borrower a notice identifying the Han. Within 10 days
<br />of the date on which that notice is given, Borrower shall saufdy the lien or take one or more of the actions set
<br />forth above in this Section 4.
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verification andlor repotting
<br />service used by Lender in connection with this Lam.
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