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200206953
<br />premiums, if any, or any sums payable by Borrower to Iorder in lieu of the payment of Mortgage
<br />Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow
<br />Items." At origination or at any time during the term of the Loan, Lender may require that Community
<br />Association Dues, Fees, and Assessments, if any, he escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to
<br />be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives
<br />Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's
<br />obligation to pay to Under Funds for any or all Escrow Items at any [line. Any such waiver may only be
<br />in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts
<br />due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires,
<br />shall furnsh to tondo receipts evidencing such payment within such time period as lender may require.
<br />Borrower's obligation to make such payments and to provide receipts shall for all purposes he deemed to
<br />be a covenant and agreement contained in this Security Indictment, as the phrase "covenant and agreement"
<br />is used in Section 9. If Borrower Is obligated to pay Escrow Items directly, pursuant to a waiver, and
<br />Borrower fails to pay the amount due for an Escrow Item. Leader may exercise its rights under Section 9
<br />and pay such amount and Bormwer shall then he obligated under Section 9 to repay to Lender my such
<br />amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in
<br />accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds. and in
<br />such amounts, that are then required under this Section 3.
<br />Under may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply
<br />the Ruins at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can
<br />require wider RESPA. Lender shall estimate the amount of Funds due on the basis of current data and
<br />reasonable estimates of expenditures of drum Escrow Items or otherwise in accordance with Applicable
<br />Law.
<br />The Funds shall be held in an institution whose deposits are sured by a federal agency,
<br />instrumentality, or entity (including Lender, if Lender is m instiution whose deposits am so insured) or in
<br />any Federal Hume Used Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time
<br />specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually
<br />analyzing the escrow account, or verifying the Escrow Items, unless lender pays Borrower interest on the
<br />Funds and Applicable Law permits Lender to make such a charge. Hitless an agreement is hands in writing
<br />or Applicable Law requires interest to be paid on the Funds, Under shall not be required to pay Borrower
<br />any interest or earnings on the Funds. Borrower and Leader can agree in writing, however, that interest
<br />shall be paid on the Funds. Under shall give to Borrower, without charge, an annual amounting of the
<br />Funds as required by RESPA.
<br />If there is a surplus of Fund held in escrow, as defined under RESPA, Lender shall account to
<br />Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow,
<br />as defined under RESPA, lender shall notify Borrower as required by RESPA, and Borrower shall pay to
<br />Lender the amount necessary to snake up the shortage in accordance with RESPA, but in no more than 12
<br />monthly payments. If them is a deficiency of Funds held in escrow, as defined under RESPA, lender shall
<br />notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make
<br />up the deficiency in accordance with RESPA, but in no more Had 12 monthly payments.
<br />Upon payment in hill of all sums secured by this Security Instrument, Lender shall promptly refund
<br />to Boor cover my Funds held by Lender.
<br />4. Charges; Licre. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which can anain priority over this Security Instrument, leasehold payments or
<br />around rents on the property, if any, had Community Association Dues, Fees, and Assessments, if any. To
<br />the extent that these items are Escrow Items, Borrower shall pay them in the mmuwa provided in Section 3.
<br />L)
<br />®LINEI soocn rw.zmis Form 3020 t /Ot
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