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MAR -14 -2003 FRI 01 45 PM WELLS FARGO HOME MTG FAX NO. 4025362983
<br />200303116
<br />premiums, if any, x 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 my 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 famish to Lender all notices of amounts n
<br />be paid under this Sction. Borrower shall pay Lender the Funds for Escrow Items urdess Lender waives
<br />Borrower's obligaton to pay the Funds for any or all Escrow items_ Lender may waive Borrower's
<br />obligation to pay to LaMar Funds for any or all Escrow Items at any time. Any such waiver may only be
<br />in writing. In the evemt of such waiver, Borrower shall pay directly, when and where payable, the amounts
<br />due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires,
<br />shall famish to Levu er 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 and ag eement contained in this Security Instrument, as the phrase "covenant and agreement"
<br />is used in Section 9 If Borrower is obligated in pay Escrow Items directly, pursuant to a waiver, and
<br />Borrower fails to pal the amount due for an Escrow Item, Lender may exercise its rights under Section 9
<br />and pay such amoun. and Borrower shall then be obligated under Section 9 to repay to Lender my such
<br />amount. Lender may revoke the waiver as to 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 in Lender all Funds, and in
<br />such amounts, that are then required under this Section 3.
<br />Lender may, at my time, collect and hold Funds in an amount (a) sutiicient to permit Lender to apply
<br />the Funds at the tura specified under RESPA, and (b) not to exceed the maximum amour a lender can
<br />require under RESP/,. Lender shall estimate the amount of Funds due on the basis of current data and
<br />reasonable esrima[t5 of expenditures of future 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 en'.i[y (including Under, if Lender is an institution whose deposits are so insured) or in
<br />my Federal Home Lo m Bank. Lend" shall apply the Funds to pay the Escrow Items no later than the time
<br />specified under RESF A. Lender shall not charge Borrower for holding and applying the Funds, annually
<br />analyzing the escrow account, or verifying the Esmow Items, unless Lender pays Borrower interest on the
<br />Fonds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing
<br />or Applicable Law ra wires interest in be paid on the Funds, Lender shall not be required to pay Borrower
<br />my inures[ or ration is on the Foods. Borrower and Lender can agree in writing, however, that interest
<br />shall he paid on the Bads. Lender shag give to Borrower, without charge, an annual accounting or the
<br />Funds as required by RESPA.
<br />If there is a surlus 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 Fonds held in escrow,
<br />as defined under RESPA, Lender shall notify Borrower as required by RESPA, m4 Borrower shall pay to
<br />Lender the amomt nev essary to make up the shortage in accordance with RESPA, but in no more than 12
<br />monthly payments. If here is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall
<br />notify Borrower as re, uimd by RESPA, and borrower shall pay to lender the amount necessary to make
<br />up 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 Instrumem, Lender shall promptly refund
<br />to Bormwer my Fail held by Lender.
<br />4. Charges; Luna. 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 or
<br />ground rents on the Property, if my, and Community Association Dues, Fees, and Assessments, if my. To
<br />the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
<br />-e1NEl r000si rea.a er �e Form3o2a 1/01
<br />P. 14
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