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<br />required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by
<br />Borrower to Lender in lieu of tic payment of Mortgage Insurance premiums in accordance with the provisions of
<br />Section 10. These items are called "Fscmw Items." At origination or at any time during the term of the Loan,
<br />Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower,
<br />and such dues, fees and assessments shall be on Escrow Item. Borrower shall promptly furnish to Lender all notices
<br />of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender
<br />waives Borrower's obligation t0 pay the Funds for any or all Escrow Items. Lender may waive Borrower's
<br />obligation to pay to Lender Finds for any or all Escrow Items at any time. Any such waiver may only be in writing.
<br />In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow
<br />Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender
<br />receipts evidencing such payment within such time period as Lender may require Borrower's obligation to make
<br />such payments and to provide receipts shall for all purposes be deemed to he a covenant and agreement contained in
<br />this Security Instrument_ as the phrase "covenant and agreement- is used in Section 9. If Borrower is obligated to
<br />pav Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item,
<br />Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under
<br />Section 9 to repay to tender any such amount. lender may revoke the waiver as to any or all Escrow Items at any
<br />time by a notice given in accordance with Section 15 and upon such revocation, Borrower shall pay to Lender all
<br />Funds, and in such amounts, that are then required under this Section i
<br />Lender may, or any time, collect and hold funds in an amount (a) sufficient to permit Lender to apply the
<br />I units at the time specified under RESPA, and (b) not to exceed the maximmn amount a lender can require under
<br />RLSPA. Lcndcr shall estimate the amount of Funds due on the basis of current data and reasonable estimates of
<br />expenditures of future Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposit's are insured by a federal agency, instrumentality,
<br />or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal home Loan
<br />Bank. Lunde, shall apply the Funds to pay the Escrow bons no later than the time specified under RESPA_ Lender
<br />shall nut charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying
<br />the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits tender to make
<br />such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds,
<br />lender shall not be required to pay Borrower any interest or earnings on the ILnds. Borrmvcr and Louder can agree
<br />in writing, however, that interest shall be paid on the Funds. lender shall give to Borrower, without charge, an
<br />annual accounting of the Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lcndcr shall account to But UWer
<br />for the excess funds in accordance with RESPA. It there is a shortage of Funds held in escrow, as defined under
<br />RLSPA, Lender shall mnify Borrower as required by RESPA, and Borrower shall pay to Lender the amount
<br />necessary to make up the shortage in accordance with RLSPA, but in no more than 12 monthly payments. If there is
<br />a deficiency of Finds held is escrow, as defined under ILLSPA. Lcndcr shall notify Borrower as required by
<br />RLSPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with
<br />RLSPA, but in nu more than 12 monthly payments_
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to
<br />Borrower any Funds held by Lender.
<br />J. Charges; Liens. Borrower shall pay all taxes, ussessmods, charges, fines, and impositions attributable
<br />to the Property which can attain priority over this Serenity Instrument, leasehold payments or ground rents on the
<br />Property, if any, and Community Association Dues, Fits, and Assessments, if an). To the extent that these items
<br />are Fscrow Items, Borrower shall pay them in the manner provided in Section 3
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless
<br />Burrower: (a) agrees in writing to the payment of the ublivation secured by the lien in a manner acceptable to
<br />Lender, but only so Ions as Borrower is performing such agreement. (b) contests the Tien irr good faith by, or
<br />defends against enforcement of the lien in. legal proceedings which in Lender's opinion operate to prevent the
<br />enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c)
<br />secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security
<br />Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this
<br />Security lo,umnent, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which
<br />SERRASRA —Smvle Famtb-- Van nit Mae /Fredric Mac t\ I NORM INS] RU11F. \T Pore 302N 1 /01
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