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200205897
<br />premiums, it any, or any sums payable by Borrower to Lender in lieu of the payment of Morgage
<br />Insurance premiums' in accordance with the provisions of Section IQ These Items are tilled "HscCOw
<br />Items." At origination or at any time during the u:ru of the Loan. Lender may requue that Community
<br />Assodxtiou Dues. Fees, and Assessments, if arty, be ee'crowcd by Borto+vcr. and such dots, fees and
<br />assessments shall be an Escrow Irern_ Borrower shun prOral Burnish to Lender Al noraCs of amounts Io
<br />be paid under Ibis Section. Borrower shall pay I -ender the Funds for Escrow hems unless Lender waives
<br />Borrnweis obligation to pay the Funds for sty or all ':screw
<br />Items. Lcndcr may waive L'oO'owcr's
<br />obligation to pay to I<-nder Funds for any or all Escrow' Items at any tittle. Any such wpivcr Inay only be
<br />In writing. In the event of such wai�e4 Borrower shall pay direcly, when and wltem payable, the amounts
<br />due for any Escrow hems for which Payment of Funds has been loured by Lender and, if Lender eciflucs,
<br />shtdl furnith to Lender receipts evidencing soeh payment within such lime Pa'iod as Lender sung require.
<br />Burrower's obligation to make such payal sold to provide receipts shalt for all purposes be dtvned 10
<br />he a covenant and aercnnent contained in this Seeudry htstrument, as the phrase "covenant and agrce1 c ill
<br />is used in Secuou 9- if Borrower is obligated to pay Escrow Items directly, pursuant to a waiver' until
<br />Borrower jails to pay the ;anoint due for an Escrow Item, Lender nary exercise its rights under Section 9
<br />and pay such amount and Borrower shall then be obligated under Section 9 to repay to Widerr any such
<br />amount. Lcndcr ntay rewkc tine waiver as to any ar all Lscrnw Ittnu at any lime by a notice givell in
<br />accordance with Section 15 and. upon such reeocalion, Borrower shall pay to Lender all Funds. anJ ill
<br />such amounts, that are then required under this &C[!OR 3.
<br />Leader may, at any time, collect and hold Funds in an amount (a) sufficient to permit Leader to apply
<br />the Feuds e the tune specified under RESPA, and (b)
<br />not to exceed the maxununt amount a leader call
<br />require under RESPA. Lender shall estimate the amount of Funds Uue on the basis of current data and
<br />reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable
<br />Law.
<br />The Funds shall be held in an institution whose depushs are insured by a federal agency,
<br />instrumcrnahly, or entity (including Lender, if Lender is an ias[itknion whose deposits etc so insured) or in
<br />My F leral Home Ivan Bank. Lander shall apply the Funds to pay the Esuou' Items nu later that the time
<br />speci Red under RESPA. Lender shall not charge Borrower for holding and applying the Funds. annually
<br />analysing [he escrow account, or verifying the Escrow learns, unless Lender pays Borrower interest on tilt
<br />Funds and Applicable Law permits Leader to mike such a charge. Unless an a, *reellicnt is made in writing
<br />or Applicable Law requires interest to be paid on the Funds, Lender shall not he required to pay Borrower
<br />any interest or earrings on the Ponds. Borrow,. and Lender can agree in writing, hoes -evtt, chat iutcel
<br />'shall be Paid on the Funds. Leadcr shall gIe'e to Borrower' without Chnrpe, an annual accounting of the
<br />Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, is definnl under RESPA. Lender shall account to
<br />Borrower for the excess funds in accordance with RESPA, If there is a shortaee of Funds held in escrow,
<br />as defined under RESPA. Lender shall notify narrower as' required by RESPA. and Borrower shall pay tit
<br />Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12
<br />monthly payments. If there is a defidcwy of Funds held in escrow, as dunned under RESPA, Lender shgh
<br />notify Borrower as required by RESPA, and Botrower shall pay to Lender the amount necessary to make
<br />up the deficiency in accordance with RESPA, but in no more than 12 monthly paymcrus.
<br />Upon payment in full of all auras secured by this Security Instrmneat, Lender shall prmnptly rehntd
<br />to Borrower any Funds held by Lender. charge, fines, and im oshions
<br />4, Charges; Lillis. Burrower shall pay all taxes, assessments, V
<br />a¢ribulti to the Property which can attain priority over this Security In,ii ment, Icasehold payments or
<br />ground rents on the P,cl if any, and Conlnumity Association Dues, Fees, and Assessments, if any. To
<br />the client that those items are LEernw Items. Borrower shall pay dram in the manner provided In Section 3.
<br />(M6nINE1 i000a
<br />mnou r� Form 3023 1101
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