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200305866
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficientamount
<br />[o pay any late charge due, the payment may be a�plicr to the delinquent payment and the late charge. If more than one
<br />Nenodre Pa ant is out standing, Lendeunay appyanypayment received om Borrower to the reps Periodic
<br />Payments it and to the extent that, each payment can be paid in full. To the extent that anygxcess exists after the payment is
<br />applied [o the full payment ofone or more Periodic Payments, such excess maybe applied to any late charges due. Voluntary
<br />prepayments shall be applied first to any prepayment charges and then as described in the Note.
<br />Any xpplicetion ofpayments, insurance Proceeds, or Miscellaneous Proceeds to principal due under the Note
<br />shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow It ems. Borrower shall pay [o lender on the day Periodic Pa ents are due under the Note,
<br />until the No[e is paid in full, a sum (Ne "Funds ") [o provide for payment of amounts due for. (a) taxes and assessments and
<br />other item! which can attain priority over this Securely Instrument as a lien or encumbrance on the Property, (b) leasehold
<br />payments or ground rents on the Property, ifany; (<) premiums for any and all insurance required byy Lender under Seen. 5;
<br />and (d) Mortgage Insurance premiums, ifany, or any sums payable by Borrower to Lender m lieu ofthe paymemofMortgage
<br />Insurance n 11111111 ms in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination
<br />any, be escrowed b Borrower, and such dues, tees and assessments shall be an Escrow Item. Borrower shall promptly
<br />furnishto Lenderall notices ofamounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items
<br />unless Lender waives Borrower's obligation m pay the Funds for any or all Escrow Items. Lender may waive Borrower's
<br />obligation to pay to Lender Funds for any or all Escrow Items 9 any time. Any such waiver may only a in writing. In the
<br />event ofsuch waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow, items or which
<br />payment of Funds has been waived gay lender and, if Lender requires, shall famish to Lender receipts evidencing such
<br />payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide
<br />receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security InsGmnent, as the phrase
<br />"covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver,
<br />and Borrower fads to pay the amount due for an Escrow Item, lender may exercise its n6thus under Section 9 and pay such
<br />amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the
<br />waiver as to an or all Escrow Items at anytime by notice given in accordance with Section 15 and, upon such revocation,
<br />Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3.
<br />Lender may, at anytime, collect and hold Fonds in an amount (a) sufficient to permit Lender to appply the Funds at
<br />the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender
<br />shall estimate the amount of Funds due on the basis ofcurrent data and reasonable estimates ofexpendinnes offulure Escrow
<br />Items or otherwise in accordance with Applicable Law.
<br />{r holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender
<br />pays Burrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is
<br />made in writing or Applicable Law reVires interest m be paid on the Funds, Lender shall not be required to gay Borrower
<br />any interest or Comings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the
<br />Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the
<br />excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender
<br />shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the
<br />shortage in accordance with RESPA, but in no more than 12 monthly Payments. If there is a deficiency of Funds held in
<br />escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall payto Lender the
<br />amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly ppayments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall prompflyrefundtoBorrower any
<br />Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable ratio
<br />Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any,
<br />and Community Association Dues, Fees, and Assessments, ifany. To the extent that these items are Escrow Items, Borrower
<br />shall pay them in the manner provided in Section 3.
<br />Borrower shall promptly it ischar6e any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obhgganon secured by the hen in a manner acceptable to Lender, but only so long as
<br />Borrower is performing such agreement; (b) contests the lien m good faith hy, or defends against enforcement ofthe lien in,
<br />legal proceedings which in Lender's opinion operate to prevent the enforcement of the hen while those proceedings are
<br />pending, but only until such proceedings are concluded; or (c) secures from the holder ofthe lien an agreement satisfaciurytn
<br />LendersuhordinaU gthe lien to this Security Instrument. If Lender determinesthat any part eifthe Property is subject too
<br />lien which can attain priority over this Secunty lnsGUment, Lender maygive Borroweranotice identifying the lien. Within
<br />l0 days ofthe date on which that notice is given, Borrower shall sa[is the lien or take one or more efthe actions set forth
<br />above in this Section 4.
<br />Under may require Borrower to pay a one -time charge for a real estate tax verification and/or reporting service
<br />used by Lender in connection with this Loan.
<br />S. Property Insurance. Burrower shall keep the improvements now existing or hereafter erectedon the Property
<br />insured against loss by fire, hazards included within the term "extended coverage," and anymber hazards including, but not
<br />limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts
<br />(including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding
<br />sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by
<br />Borrower subject to Lender s right to disapprove Borrower's choice, which right shall not be exercised unreasonably.
<br />Lender may require Borrower to pay, in connection with this Loan, either: (a) a one -time charge for flood zone
<br />determination, certification and Lacking services; or (b) a one -time charge for flood zone determination and certification
<br />services and subsequent charges each time remappings or similar changes occur which reasonably mi t affect such
<br />determination or certification. Borrower shall also be responsible for the payment of any fees imposed y the Federal
<br />Emergency Management Agency in connection with the review of my flood zone determination resulting from an objection
<br />by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, a
<br />Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of
<br />coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the
<br />Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage
<br />than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly
<br />exceed the cost of insurance that Borrower could have obtained Any amounts disbursed by Lender under this Section 5 shall
<br />m
<br />become additional debt of Borrower secured bythis Security Instrument. Theseaountss all bear interest at the Note rate
<br />from the date of disbursement and shall he payable, with such interest, upon notice from Lender to Borrower requesting
<br />payment.
<br />All insurance policies required standard Lender and renewals e, such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include a standard mortggage clause, and shall name Lender as mortgagee and/or o er an
<br />additional loss payee. Lender shall have the right r hold mhc policies and renewal certificates. btans IfUnder
<br />an requires, Borrower
<br />shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance
<br />N'EBRASRA -- Single Fanilly— Fannie M.sTreddie Mae UNIFORM INSTRUMENT Form 202x U01 (page3of8pages)
<br />9754 CV(1202) 1694876
<br />COTO(OCAM61A)
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