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200207239
<br />premiums, if any, or any Smm payable by Borrower to Icndcr in lieu of the payment of Mortgage
<br />Insurance premiums in accordance with the provisions of Soriano 10. These items arc called "Escrow,
<br />Items." At origination in at my time during the term of the loan, Icndcr may require that Community
<br />Association Dues, Fees Laid Asaewsmems, if any, be escrowed by Borrower, and such rasa, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amowtm to
<br />be paid under this Section. Borrower shall pay Lender elm Fulls for Escrow Items unless Lcndcr waives
<br />Borrower's obligation to pay the Funds for arty or all Escrow Items. Lender only waive Borrower a
<br />obligation to pay to Lender funds for any or all Escrow Items it any time. Any such waiver may only be
<br />in wilting. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts
<br />due for any Escrow Items for winch payment of Funds has been waived by I eater and, if Lender requires_
<br />shall furnish to lender receipts evidencing such pavan m within when time period as Lender may termite.
<br />Borrower's obligation to make nmh July clients and to provide reaches shall for all purposes be dammed to
<br />be a covenant and agreement comainnl in this Security Instrument, as the phrase' covenant and agreement"
<br />used in Section 9. If Borrower Is obligated to pay Escrow Items directly, put mu m n Ind
<br />Is u w terse,
<br />Burrower fails to pay the amount due far an Escrow Item, Leader may exercise its rights under Section 9
<br />and pay such amount and Burrower shall then be obligated under Section 9 to repay to Lender any such
<br />aimoun; Lender may revoke the waiver as to a ny or all Escrow Items at any time by it notice Viven in
<br />aia-milainats with Soxom, 15 and, upon such revocation, Borrower shall pay to Leader all Funds, and in
<br />such amounts, that are then required under this Section 3.
<br />Lender may, at shy time, collect and hold Funds In an amount (a) sufficient to permit Leader to apply
<br />the Funds at the time specified under RESPA, and (b) not la existed [lie maxinmm amount a Icndcr can
<br />onions under RESPA. Lcndcr shall estimate the amount of Funds due on the basis of current data and
<br />onable estimates of expenditures of finu e Escrow Items or otherwise in accordance with Applicable
<br />I nw.
<br />The I ands shall be held in an institution whose deposits arc insured by a federal agency,
<br />instrumental ay. or entity Gnelhding 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 late+ thorn the time
<br />spethGed under RESPA. Lender shall net charge Borrower for holding and applying the Funds, annually
<br />carpeting the escrow account. or verifying the Escrow Items, unless Lender pays Boaowee interest on the
<br />I unds and Applicable Law permits lender to make such a charge. Unless an agreement is made in writing
<br />or Applicable Law requires interest to be paid on the Funds, Lender shall 1101 be required to pay Borrower
<br />interest or earnings on the Funds. Borrower and Iender can agree writing, however, that interest
<br />alp m
<br />shall be paid on the Funds. Lender shill give to Borrower, without charge, an annual accounting of the
<br />Funds as required by RESPA.
<br />If there is a surplus of Funds held in review, as defined under RESPA, Lcndcr 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, Lcndcr .shall notify Ron never as required by RESPA, and Borrower shall pay to
<br />Lender the amount mocessars to make hp the shortage in accordance will, RESPA, lout in no intic than 12
<br />omlily payhncnts_ If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall
<br />nOlily Borrower as required by RESPA, and Borrower shall pay to tender the amount necessary to make
<br />up the deficiency in accordance skull RESPA, but in no mote that' 12 monthly paymens.
<br />Ilpoll payment in Bill of all sums secured by this Security Instrument. Lender shall pNnhpty island
<br />to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, tines, and impositions
<br />attributable to [lie Property which can attain priority near this Security Instrument. leasehold payments or
<br />ground ten¢ on the proporry, if any. and Community Association Dues, Fees, and Asacssmcns, If any. To
<br />the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
<br />® -61NEI roars, .we. .0 `.yX a/ Form3e28 1101
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