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200302471
<br />prcmimuS, 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 ate 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 entices of amounts to
<br />he paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives
<br />Borrower's obligation to pay the Funds for any or all Escrow ituus. Lender nary waive Borrower's
<br />obligation to pay to Lender Funds for any or all Escrow Items at any bane. Any such waiver may Only be
<br />in writing. In the event of such waiver, Borrower shall pay directly, wheu and where payable, the amounts
<br />due for any Escrow items for which payment of Funds has been waived by Leader and, if Lender requires,
<br />Shall furnish to Lender receipts evidencing such payment within such time period as Lender may require.
<br />Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to
<br />be a covenant aid agreement curtained in this Security Instrument, as the phrase "covenant and agreement"
<br />is used in Section 9. If Borrower is Obligated to pay Escrow items directly, pursuant to a waiver, and
<br />Burrower fails to pay the amount due for an Escrow item, Lender may exercise its rights under Section 9
<br />and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such
<br />amount. Lender may revoke the waiver as nn any or all Escrow Items at any time by a notice given in
<br />accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in
<br />such amounts, that are then required under tltis Section 3.
<br />Lender may, at may time, collect and hold Funds in an amount (a) sufficient to permit lender to apply
<br />the Funds at du time specified under RESPA, and (b) not to exceed dhc nuxinmm amount a leader 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 finuru Escrow Items or otherwise in accordance with Applicable
<br />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 in
<br />any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time
<br />specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually
<br />analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the
<br />Funds and Applicable Law pernnits Lender to make such a charge. Unless an agreement is nude in writing
<br />or Applicable Law requires interest to be paid On the Funds, Leader shall not be required to pay Borrower
<br />any interest or eam iris on the Funds. Borrower and Lender can agree in writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of We
<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 />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 Polity Burrower as required by RESPA, and Borrower shall pay to
<br />Leader the amount necessary to nuke up the shortage in accordance with RESPA, but in no more than 12
<br />monthly payments. if there is a deficiency of Funds held in escrow, as defined under RFSPA, fender shall
<br />notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make
<br />tip the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund
<br />to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all axes, assessments, charges, fines, and impositions
<br />attribumble to the Property which coif attain priority over this Security Instrument, Leasehold payments or
<br />ground rents on die Property, if any, and Community Association Dues, Fees, and Assessments, if any. 'ro
<br />the extent tut these items are Escrow Items, Borrower shall pay thorn in the manner provided in Section 3.
<br />Document # L078NE
<br />II-t sFS-St"'
<br />-EONEl moll)
<br />"".111
<br />Form 3028
<br />1101
<br />Document # L078NE
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