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200207183
<br />premiums, if any, o tiny sums payable by Borrower to Lender in lieu of the payment of Mortgage
<br />Insurance premiums Ash accordance with the provisions of Section 10. These items me called "Escrow,
<br />Itc ns " At origination or at any time during the term of the Loan, Lender may require that Community
<br />Association Dues, Fees, and Asscssmeats, if any, be escrowed by Borrower, and such dues, few and
<br />meets shall be an Escrow Item. Borrower shall promptly famish Simmons
<br />to Lender all notices of a to
<br />be paid under this Section Harrower shall pay Leader the Funds for Escrow Items unless Lender waives
<br />Borrower's obligation to pay the Funds for any or all Escrow hours. Lender may waive larrnwei .s
<br />obligation to pay as Lender Funds for any or all Escrow Items at any time. Any such waiver may only be
<br />in writing. In the event of such waiver, Ronowm .shall pay directly, when and where payable, the amounts
<br />due for any Escrow Items for which payment of Funds has been waived by Leader and, f Lender requires,
<br />shall famish to Leader receipts evidencing such payment within such tine period as Lender may require.
<br />Borrower's obligation to make such payments and to provide receipts shall for all purposes be detailed to
<br />be a enant and agreemau contained in this Security Instrument, as the pluase "covenant and agreement"
<br />IS used to Section 9. if Borrnw'cr is obligated to pay Escrow Items smartly, pursuant to a waive, and
<br />Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9
<br />and pay inch amount and Bnrmwer shall then be obligated under Section 9 to repay to Lender any such
<br />amount landcr may revoke the waiver as to tiny or all Fsxuw, hens at any time by a notice given in
<br />aaordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Foods, and in
<br />such communist that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Foods in an amount (a) sufficient to permit Lender to apply
<br />the Funds at the time specified under RP.SPA, and (b) not to exceed the translation amount a lender can
<br />require under RESPA. Leader shall estimate the amount of Funds due on the basis of cut mal dots and
<br />reasonable estimates of expenditures of Fume Escrow Items or otherwise In accordance with Applicable
<br />Law.
<br />The Foods shut] be held in an institution whose deposits are insured by a federal agency,
<br />instrumentality, or cttity (including Lender, if Lender is an i nstitution whose deposits we so insured) or in
<br />any Federal Home Loan Bank Leader shall apply the Foods to pay the Escrow Items no later than the time
<br />Specified under RESPA. Lender shall not charge Borrower for holding and applying the Fends, annually
<br />analyzing the escrow account, or verifying the Fscrow Items, unless Lender pays Borrower interest an the
<br />Funds and Applicable law permits Lender to make such a charge. Unless an agremse t is made in writing
<br />or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Harrower
<br />any interest or earrings on the Funds. harrower mid Lender can agree in writing however, that interest
<br />shall be paid on the Funds Lando shall give to Borroweo without charge, m annual accounting of the
<br />Funds as required by JEESFA.
<br />If there is it surplus of Funds held in escrow, as defined under RESPA, Leader 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 unrest Borrower as required by RESPA, and Horrown- shall pay to
<br />Lender the amount necessary to make up the shortage in accordat with RESPA, but in no inure than 12
<br />monthly payments. If there is a deficiency of Foods held in escrow, as claimed under RESPA, Lander shall
<br />notify Unit asset as required by RESPA, card Borrower shall pay to Lender the amount necessary to make
<br />up the deficiency in accordance with RFSPA, but in no more then 12 monthly payments.
<br />Upon paymcm in full of all sums secured by this Security Instrument, Lunde shall promptly refund
<br />to Borrvwer coy Funds held by Iatder.
<br />4. Chagcs; Lints. Harrower shall pay all taxes, ascatinu nos, charges, tines, and impositions
<br />attributable to the Property which can attain priority over this Security Instrument leasehold payments or
<br />ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if my. To
<br />the extant diet these items me Escrow Items, Borrower shalt pay them in the neumer provided in Section 3.
<br />X 229152
<br />CB� -B(NE) NrOP. -" - Form 3926 1toI
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