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<br />200203392
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<br />BorrClwer shall pay Lend.er the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the
<br />Funds for any or all Escrow Items. Lender may waive Borrowcr's obligation to pay to Lender Funds for any or
<br />all Escrow hems at any time. Any such waiver m;;. y onlv be in ~'fiting. [n the event of such ~ai\'er, Borrower
<br />shall pay direstly. when and where payable, the amounts due for any Escrow Items for which payment of
<br />Funds hJ.s been waived by Lender and,if Lende' requires, sl,,1I f-"l'T'i~hto Lender receipts evidencing such
<br />payment within such time period as Lel;der may r<.:quire. Borrow!,;r', obligation to make such payments and to
<br />provide receipts sbll for all pillposes be deemed to be a covenant and agreement contained in this Security
<br />In.~trUment, as the phrase "covenant and agreement" is used In Section 9. If Borrower is obligated to pay
<br />Escrow Items directly, pursuant to a waiver, and Borrower fails 10 pay the amount due for an Escrow Item,
<br />Lender may exercis>: il~ rights under Section 9 and pay such amount and Borrower shall then be obligl\ted
<br />under Section 9 to repay to Lender any such amount. Lender may revoke the waIver as to any or all Escrow
<br />Items at any time by a notice given in accordauce with Section l5 and. upon such revocation, Borrower shall
<br />pay to lcnder all Funds, and in such amounts, th:ll arc then required under this Section 3.
<br />Lendc:rm;I)'. at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply
<br />the Funds at the time specified under RESPA and (b) not to exceed the 'maximum amount a lender can require
<br />under RESP A. lendershall estimate the amomt of Funds due on the basis of current data and reasonable
<br />estimates of expenditures of future Escrow It.::ms or othetwise in accardance with Applicable Law.
<br />The Funds shall be held in ill1 innitution whose deposits areinsurw by a federal agency.
<br />if1~uumental;ty, '
<br />or en,itv (including Lender, if Lender is an instinttion whose dl'pe'sits are so insured) or in any Federal Home
<br />Loan Bank Lender shall npply thc Funds to pay the Escrow !tcr<ts no later than the time specified under
<br />RES? !,. Lender shall nOt eharge Borrower for hi:llding and app:yip.g the Funds, annually :malyzing the escrow
<br />account, or verifymg the Escrow [terns, unless Lender pays Borrower interest on the Funds and Applicable
<br />Law permits Lender to rn<,l(e such a charge. Unless an agreement is made in writing or Applicable Law
<br />requires interest to be paid 00 the Funds, Lender shall not be required to pay Borrower any interest or earnings
<br />on the Funds. BOlTOWer and Lender can agree in writing, however, that interest shall be paid on the Funds.
<br />Lender shall give to Borrower, without charge. an annual accounLing of the Funds IlS required by RESPA.
<br />If there is a surplus of Funds held in ~',r.r')w, as di'fined under RES!'A. Len.der shall account to
<br />Borrower for the excess f.ll.ds in accordance with RES!' A. If thele is a shortage offunos held in escrow, as
<br />defined under RESPA, Le!1J,~r shall notify BOrrower as required by P..ESPA, and Borrower shall pay to Lender
<br />tht: amount necessary to nUKe up the shortage i:: ::cccr~hncc wit)! RE!,:vA. but in no more than 12 monthly
<br />payments. If thefo~ is a .deficiency of Funds held in escrow, as defined under RESPA, Lender ~hallllotil'y
<br />Borrower as required by REf;;? A, and Borrower shall pay to LcnJer the amount neces,~ary to make up the
<br />deficiency in acconl"ncewith RESPA, but in no more than 12 m.onthly paymp:nts.
<br />Upon payment in fllli of all sums secured by this Security Instrument, Lender shall promptly refund to
<br />Borrower any Funds held by Lender.
<br />4. Charge!;; Liens. Borrower shall pay all taxes, assessments, charges, lines. anti impositions
<br />attributable to the Propeny which ean attain priority over this Scculity Instrument, leasei101a payments or
<br />ground rents on (jlC Property. if any, and ConununilY As~ociatil)n Dues, Fe;:s, und Assessmcnl5, if any. To the
<br />cxt~nt that these items arc E~;crcw Items, Borrower shall pay them in the manner provided in Section 3.
<br />Borrower shall promptly discharge ::IllY lien which has priority over this Security Instnur.cnt unlc~s
<br />Borrower: (a) agrel:s III wrUng to the paym,~nt of the obligation secured by the lien in .. manner ;\cccptab!c 10
<br />Len(kr, but only s.) long a~ Borrower h perflllllling sueh llgreernelll; (b) contests the licll III good faith by, or
<br />defends against en forccIl1cllt of thckn in, legal proc.:edings which h1 Lender's opinion opc.ate to preVt'nt tit.:
<br />enforcement of th,: lien while those proceedings ar.: pending, but only until sllch proceedings are concluded; or
<br />(ci sccures Ir'JIll the hollieI' 0(' the lien an agreement satisfactory to Le~der sllbordidadng the lien 10 this
<br />Security Instrument. If Lender detennines that any pan of the Propcn:' IS subject to Il !ien which can attain
<br />priority 'Jvcr this Security ::":sll1lrtlent, Lender may give Uorrower a notice identifying the lien. Within 10 days
<br />of the date on which tlut notice is give~l, Borrol,l/er shall satisfy the lien or take one or more of the actions set
<br />trmh above in this Sc;ctjon 4.
<br />Lender ni;lY fl.-quire Borrowa to pay a one-time chHlge for it real ':S[1It<: iax veriiication and/or
<br />r<:porting ,;ervice lJ'i.:d by Lenckr in connection with this Loan.
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<br />FOII'l ~U~K 1.0 I
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