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0042603332 <br />200305705 <br />premiumst any,or anysumspayabiby Borroweto Lendein lieuof thepaymenmf Mortgagdnsurance y <br />premiumsn accordancwith the provisionmf Sectiorl0. Theseitemsare called" Escrowltems. "At <br />originatioror at anytime duringthetermof the Loan, LendermayrequirethatCommunityAssociation <br />Dues FeesandAssessment tany,beescrowetiy Borrowerandsuchduesf eesandassessmestsalbe <br />an Escrowltem.Borrowershallpromptlyfurnishto Lenderall noticemf amountgo be paidunderthis <br />SectionBorroweshallpayLende the Fundsfor EscroWtemsunlestenderwaived3orrower 's)bligation <br />to paythe Fundsfor anyor all Escrow( tems. LendermaywaiveBorrower 'mbligatiorto payto Lender <br />Fundsfor anyor all EscroWtemsat anytime Any such Naivermayonlybein writing.ln theevenbf such <br />waive r, Borrowershallpaydirectlywhenandwherepayabletheamountstuefor anyEscrowltemsfor <br />whichpaymensf Fundshasbeerwaivecby Lendeland,if Lenderequires$halturnishto Lendereceipts <br />evidencingucfpaymer* ithinsucltimeperiodasLendemayrequireBorrower 's)bligatioroo makesuch <br />paymentandto provideaeceiptshaltor all purposebedeemedb be a cove nardndagreemerabntained <br />in this Security nstrumentasthephrasdcovenanbndagreemenit usedin Sectior9. If Borroweris <br />obligatetb payEscroWtemsdirectlypursuartb a waive randBorrowetailsto paytheamountluefor an <br />EscroWtem, LendemayexercisdsrightsunderSectior9 andpaysuchamountindBorroweshalthenbe <br />obligatednderSectior9 to repayto LendeanysuchamountLendemayrevokdhewaiverasto anyorall <br />Escrowltemsat any time by a noticegivenin accordanceith Sectionl5 and, upon suchrevocation, <br />Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. <br />Lendermay ,atanytime,collectandholdFunddn anamounta) sufficiento permitLenderto apply <br />the Fundsat the time specifiedinderRESPA gnd(b) sotto exceedhemaximurramounta lendercan <br />requireunderRESPALendershallestimatitheamounbf Fundsdueonthebasisof currenidataand <br />reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable L <br />The Fund mhaIbeheldin an in stitutiorwhosaiepositareinsuredby a fed erakgencyinstrumentality, <br />orentity(includina-enderif LendeisaninstitutiomvhosedepositaresoinsuredorinanyFederafHome <br />Loan Bank.LendershallapplytheFundsto paytheEscrowltemsno late rthanthe time specifieahnder <br />RESPA.Lendershallnot chargeBorrowerfor holdingandapplyingthe Funds,annuallyanalyzinghe <br />escrowaccountgr verifyingthe Escrowltems, unlessLenderpaysBorrowednteresbn the Fundsand <br />Applicablt-awpermitELendeto makesuchachargeUniessnagreemeid madan writingor Applicable <br />Law requireinteresto bepaidon the Funds�endershallnotberequiredo payBorroweranyinteresbr <br />earn ingentheFundsBorroweandLendecanagreen writing, howeverthatinteresishalbepaidonthe <br />FundsLendershallgiveto Borrowerwithoutchargean annuabccountingf the Fundsasrequirecby <br />RESPA. <br />If thereis a surplusof Fundsheldin escrowasdefinedunderRESPA ,Lenders hall accounto <br />Borrowetortheexcestundsin accordanafeithRESPAlf thereis a shortagef Fundsheldin escrowas <br />definedrnderRESPA). endershallnotifyBorrowerasrequirecby RESPAgndBorrowershallpayto <br />Lendertheamounhecessarfp makeup theshortagtn accordanaoith RESPAbut in no morethanl2 <br />month lypaymentJf thereis a deficiencpf Fundsheldin escrowasdefinedinderRESPA�endershall <br />notify Borroweasrequiredby RESPAandBorroweshallpayto Lendetheamountiecessatp makeup <br />the deficiency in accordance with RESPA, but in no more than 12 monthly payments. <br />Uponpaymenin full of all sumssecuredy thisSecurit�nstrumenLendershallpromptiy (efundto <br />Borrower any Funds held by Lender. <br />4. Charges; Liens. Borrowershall pay all taxes,assessment$hargestines, and impositions <br />attributablbD the P rope rtywhich can attainpriorityoverthisSecurity nstrumenipaseholoaymenter <br />ground'entmntheP rope rtyif any, andCommunityAssociatiobuesFeesandAssessmenUsany .Tothe <br />extentthatthesatemsareEscrowltems ,Borrowershallpay them in themanneprovidedn SectiorS. <br />inifl <br />(M 6(NE) (0005) Page 5 of 15 Form 3028 1/01 <br />M A <br />