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MAR . 21.2002 12 : X11 PM 20020423'7 NO. 07e P. 27/72 Arty application of payments, insurance proceeds, or Miscellaneous PropeedS to principal due under the Note shall nPt extend or postpone the due date, or change the amount, of the Periodic Payments. I Funds for Escrow HeMs, Porrower shall pay to j_ender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds') to provide for paYment of amounts due for: (a) taxes pnd assessments and ether items which ran attain priority over this Security Instrument as a lien or encumbrance on the Prppprly; (b) leasehold paYment$ pr Around rents on the property, if any; (c) premiums for any and all insurance required by Lender under Section 5, and (d) Mortgage insurance premiums, if any, or any sums parable by Borrower tQ Wnder in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Sectlop 10. These items are called "Escrow Items." At origination Pr at Any time during the terra of the Loan, Lender may require that Community Association Dues, Fees, and Asse5pmen% if any, be escrowed by Borrower, and Such dues, fees end aas+essments shall be an Escrow Item. Borrower Shall Promptly Furnish to Lepdar all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Fender waives Sorrowees obligation to pay the Funds For any or Ail Escrow items, Lender may vwaive Borrower's obligation -to pay to Lender Funds f+or any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items For which payment of Funds has been waived by Lender and, if tender requires, shall furnish to Lander receipts evidencipg such payment within such tlme period as Lender may require. Sorrowees Apligation to make such payments and to provide receipts shall for all purposes pe deemed to be a covenant and agreement Contained in this security instrument, as the phrase "covenant and agreement" is used in Section 9, If Borrower is obligated to pay Escrow Reins directly, pursuant to a waiver, and Borrower NO to pay the amount due for an Escrow item, Leader May exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation' Borrower small pay to tender all Funds, and in such amounts, that are then required udder this Section 3, 4.ender may, -at anytime, collect .and hold Funds in an amount (a) ,sufficient to permit Lender to Apply the Funds ;at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA, Lender shall pstimate the amount of Funds due on the basis Qf current data and reasonabic estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law, The Funds shall be held in an institution whose deposits are insured by a federal agency, Instrumentality, or entity (including Lender, if Lender Is an institution whose deposits are so insured) or In any Federal Home Loan BanK. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA, Lender shall not charge Borrower For holding and applying the Funds, annMaIIY analyzing the escrpw account, or verifying the Escrow Items, unless Lender pays Rorrowor interest on the I✓unds and Appllcable Law permits Lender to make such a charge. Liniess an agreement is made in writing or Applicable Law requires interest to be paid an the Funds. Lender shall not be SNE03 Rev IIIMAG PM90 5 of 16 In�lial §: FORM 30 1A11 �j�