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<br />prcmiunrs. l our or any Bunn payable by iorrower to Lender in lieu of the payment of Mortgage
<br />Insurance pentiums in aa:ordancc with the provisions of Section 10. These items are called "Escrow
<br />Items." U oripinaIna ar at any lime during tltc term of the Loan, Lender may require that Community
<br />Association Ducs, Fccs, and Assessments, it any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall he an Iiscrnw I m. Borrower shall promptly fumish to Lender all notices of amounts to
<br />be paid uudcr this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives
<br />Borrower's obligation to pip the Funds for nny of all Escrow Items. Lender may waive Borrower's
<br />obGgauon to puy to Lcnder Funds for am or al I Escrow Items at any time. Any such waiver may only be
<br />in writine. III the "vent of such waiver, Borro, , I shall pay directly, when and where payable, the amounts
<br />due for anc harrow Reins liter wlhich payment of Funds has been waived by Lender and, if Lender requires,
<br />that lurni.ah ten Lcuder receipts cvicicncin,•, suer payment within such time period as Lender may require.
<br />Borrower's ohll"azion to make suchh paynhcnts id to provide receipts shall for all purposes be deemed to
<br />he n covr7tam :rod agrcahnent wutuiuc l In this $s Lin nts Instrument, as the phrase "covenant and agreement"
<br />is useA in Srctinn '). II Borrower is ohligatal w pav Escrow Items directly, pursuant to a waiver, and
<br />Burrower ILiI, lo pav the annrmu duo for au Escrow Item, Lender may exercise its rights under Section 9
<br />and pav such wnount and Borrower shall then he obligated under Section 9 to repay to Lender any such
<br />amount. La11Jer may Ineoll th" waiver :is to .inv or all Escrow Items at any time by a notice given in
<br />acatrdaace "'th Section 15 and, upon such ravocuion, Borrower shalt pay to Lender all Funds, and in
<br />such amounts, that are then requimd uudcr this Secion 3.
<br />Lender may, at airy hill. aollecuuul hold funds in an amount (a) sufficient to permit Lender to apply
<br />[he Funds :a thr time specified under RESPA, and (b) not to exceed the maximum amount a lender can
<br />requie uudcr RESPA_ Lsrdc, shall ",'Berate the amount of Funds due on the basis of current data and
<br />reusonaLlc caivaics of expenditures of lima" Esch'ow Items or otherwise in accordance with Applicable
<br />Law.
<br />'Ili, Ihculs shall he held in an iastimuon whose deposits are insured by a federal agency,
<br />insnvnhcnraliiv_ or Cntity (including Lender, it Lender is an institution whose deposits are so insured) or in
<br />any Federal I Ionic Loan Bank. Lcnder shall apply the Funds to pay the Escrow Items no later than the time
<br />specified under RESPA. Lender shall not charzc Borrower for holding and applying the Funds, annually
<br />analyzing the csw-ow account, or vcril}ing th w e l cro Items, unless Lender pays Borrower interest on the
<br />Funds and Applicable Law pcnuits I - uudcr to ii:,kc Such a charge. Unless an agreement is made in writing
<br />or Applicable Law requires iotcnret to he paid on the Funds, Lender shall not be required to pay Borrower
<br />nny inmresl m' "amines on the Funds. Burromcr: rod Lender can agree in writing, however, that interest
<br />shall he mid on the Funds. Lcuder slwll glyc to Borrower, without charge, an annual accounting of the
<br />Funds n, roqulrc,l by RFSPA
<br />If hero i, a surplus nl I'indS held iu uuow, as dcfined under RESPA, Lender shall account to
<br />Borrower fo:.hc cscesa Balk io accoodanoc with RESPA. If there is a shortage of Funds held in escrow,
<br />as dcliocd t r RI'SI'A, I.a:dcr shall uouty h,unn + -er za required by RESPA, and Borrower shall pay to
<br />Lcnder the :.nun rot rCCCSsan' 0, make up the sl.o*ta ,,c in accordance with RESPA, but in no more than 12
<br />mocilik puccmna. If there is a dchconev of Finds held in escrow, as defined under RESPA, Lender shall
<br />potty Bnrromer as required by RESPA, uud BUlrllw'Cr shall pay to Lender the amount necessary to make
<br />up the dcfidcnoy in accordance with RESPA, hit iu no more than 12 monthly payments.
<br />lit on p"Ircal is ILII of all sums secured by this Security instrument, Lender shall promptly refund
<br />to Borrower Lim Funds held by Lender.
<br />4. Charges; Liens. Bon'owcr shall pay u6 taxes, assessments, charges, fines, and impositions
<br />itinhwahle '.o the Property which ccit auxin priority over this Security Instrument, leasehold payments or
<br />,'round -ruts :.n me Property, it any, and (omv.nnity Association Dues, Fees, and Assessments, if any. To
<br />the cxtno, tb, . ihcso items arc Lserow hunts. Br oowcr shall pay them in the manner provided in Section 3.
<br />M -C
<br />- 6INEI F.,. 3028 1101
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