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200207119
<br />premiums, if any, or any sums payable by Borrower to Leader in lieu of the payment of Mortgage
<br />Insurance premiums in resonance with the provisions of Section 10. These items are called "Escrow
<br />Items." At origination or at any time during the tenh of the Loon, Lender may require that Community
<br />Association Dues, Fees, and Assessments, if any, be escrowed by Burrower, and such dugs, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly finish 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 pry to I ender Funds for any or all Escrow Items at any time. Any such waiver may body be
<br />in writing. In the event of such waiver, Borrower shall pay dimply, when and where payable, the amounts
<br />due for ;my Escrow Isms for which payment of Funds has been waived by Lender and, if Lender requires,
<br />shall furnish to Lender receipts evidencing such payment within such time period as Lender may require.
<br />Bbrrowds obligation to make such payments mud to provide receipts shall for all purposes be donned to
<br />be a covenant and agreement contained in this Security Instrument, as the phrase "cerement 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, Lender may exercise its rights under Section 9
<br />and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such
<br />,amount. Lender may revoke the waiver as to any or all Escrow Ferris at any time by a notice given in
<br />accordance with Section 15 and, upon such revocation, Borrower shall pay to Linder all Funds, and in
<br />such amounts, that son then required under this Section 3.
<br />Lender may, 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 emu
<br />require tinder RESPA. Lender shall estimate the amount of Funds due on the basis of current data and
<br />reasonable estimates of expenditure of future Escrow Items or otherwise in accordance with Applicable
<br />Law.
<br />no funds shall he held in an Institution whose deposits are insured by a federal agency,
<br />instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in
<br />any Federal Home Loan Bank_ Lender shall apply the Funds to pay the Escrow Items no later than the time
<br />specified under RESPA. Leader shall not charge Borrower for holding and applying the Funds, annually
<br />analyzing the escrow account, or erifying the Escrow Items, unless Lender pays Borrower interest on the
<br />Funds and Applicable Law permits Lender to make such a chage Unless an agreement is made in writing
<br />or Applicable Law requires Interest to be paid on the Funds, lender shall not be required to pay Borrower
<br />any intern or mugs on the Funds. Borrower and Under an agree fit writing, however, that interest
<br />shall be paid on the Funds_ Lender shall give to Borrower, without charge, an =us] accounting of the
<br />Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to
<br />Borrower for the events funds in aressurafferroo 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 />I under the amount necessary to make up the shortage in aewrdam a with RESPA, but in no more than 12
<br />monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA. Lender shall
<br />notify Borrower as required by RESPA, and Borrower shun pay to Lender the amount necessary to make
<br />up the deficiency in accordance with RESPA, but in no more than 12 monthly payments_
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund
<br />to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Ba'rower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which can attain priority over this Security Instrument, leasehold payments or
<br />ground only on the Property, if my, odd Community Association Dues, Fees, and Assessments, if any. To
<br />the extent that these items are Escrow Items, Borrower shall pay then m the Insurer provided in Section 3.
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