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200301073
<br />premiums,if any, or any sums payableby Borrowerto Lenderin lieu of the paymentof Mortgage Insurance
<br />premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At
<br />origination or at any time during the term of the Loan, Lender may require that Community Association
<br />Dues, Fees and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessmentsshall be
<br />an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this
<br />Sect ion. Borrowershall pay Lenderthe Funds for EscrowItemsuntess Lenderwaives Borrower's obligation
<br />to pay the Funds for any or all Escrow Items. Lendermay waive Borrower's obligation to pay to Lender
<br />Funds for any or all EscrowItemsat any time.Any such waiver may only be in writing. In the event of such
<br />waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for
<br />which payment of Fundshas beenwaived by Lendermd, if Lenderrequires, shall furnish to Lenderreceipts
<br />evidencing such paymentwithin such timeperiodas Lendermay require.Borrowei s obligationto make such
<br />payments and to provide receiptsshall for all purposesbe deemedto be a covenant and agreememcomained
<br />in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is
<br />obligatedto pay EscrowItemadirectly, pursua dto a waiver, and Borrowerfails to pay the amomudue for an
<br />Escrowltem,Lendermay exerciseits rightsunderSection9 andpay such amountand Borrowersball thenbe
<br />obligatedunderSection 9 to repayto Lendermy such amoumLendermay revoke the waiver as to any or all
<br />Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation,
<br />Borrower shall pay to Lender all Funds, and in such amounts, that we then required under this Section 3.
<br />Lendermay, at any time, collect and hold Funds in an amount (a) sufficient to permitLenderto apply
<br />the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can
<br />require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and
<br />reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institutionwhose depositsucinsuredby a federalagency, instrumentality,
<br />or entity (including Lender,if Lenderis an institutionwhose depositsare so insured)or in any FederalHome
<br />Loan Bank. Lender shall apply the Finds to pay the Escrow Items no later than the time specified under
<br />RESPA. Lender shall not charge Borrower for holding and applying the Finds, annually analyzing the
<br />escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and
<br />Applicablelaw permitsLenderto make such a charge. Unless an agreementis made in writing or Applicable
<br />Law requires interest to be paid on the Funds, Lender shall not be requiredto pay Borrower any interestor
<br />earnings on the Funds. Borrower and Lender can agreein writing, however, that interest shall be paid on the
<br />Funds. Lender shall give to Borrower, without charge, an annual accounting of the Finds as required by
<br />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 Finds held in escrow, as
<br />defined under RESPA, Lender shall notify Borrower as requiredby RESPA, and Borrower shall pay to
<br />Lender the amountnecessary to make up the shortage in accordancewith RESPA,but in no more than 12
<br />monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lendershall
<br />notify Borroweras requiredby RESPA, and Borrowershall pay to Lenderthe amountnecessary to make up
<br />the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Uponpaymentin full of all sums securedby this Security Instrument,Lendershall promptlyrefund to
<br />Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributableto the Property which can attain priority over this Security Instmment,leasehold payments or
<br />groundrentson the Property,if any, and CommunityAssodationDues, Fees, and Assessments,if any. To the
<br />extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
<br />DOC #:317605 APPL #:8010075391 Sfk LOAN #:8010095391
<br />InXIeB: iYI.
<br />40 -6(NE) sssq Pegesais '�5 , Fonn3028 1/01
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