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<br />premiums, if any, or any slims payable by Borrower to Lender in lieu of the f uyment 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 Lama, Lender may require that Cultural
<br />Association Dues, Fees, mid Assessments, if any, be escrowed by Burrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all noticed of amounts to
<br />be paid under this Section. Borrower shall pay Lwder the Funds for Escrow (tans unless Lender waives
<br />Borrower's obligation to pay the Fund for any or all Escrow Items. Lender may waive Borrower's
<br />obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be
<br />in writing. In the evert of such waiver. Borrower shall pay directly, when and where payable, the recounts
<br />due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires,
<br />shall famish to I ender teceipts evidencing such payment within such time period as Lender may require.
<br />Mower s obligation to make such payments and to provide receipts shall for all purposes be dccmed to
<br />be a swearer and agrccment confuted in this Security Instrument as the plusse "coven;un and agleanent'
<br />is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, sand
<br />Boaewer fails to pay the amount due for an Gsonow Item, i.aidcr may exercise its rights stet Section 9
<br />and pay such will and Borrower shall then be obligated under Section 9 to repay to Leader any such
<br />annotim. Tender may revoke the waiver as in any or WI Escrow Items at any time by a notice given he
<br />accordance with Section 15 and, upon such revocation, Boaowa shall pay to Lender all Funds, and in
<br />such mnomin, that are then required under this Section 3.
<br />Lender may, at any time collect and hold Fundy in an amount (a) sufficient to permit London to apply
<br />the Funds at the time specified under' RESPA, and (b) not to exceed the maximum amount a lender can
<br />require under RESPA. Lender shall estimate the upward of Funds due on the basis of current data and
<br />warsonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable
<br />law.
<br />The Fund shall be held in an institution whose deposits are sure) by a federal agency,
<br />tnanumor lxlhy, or entity (including Lender, if Lender is an institution who c deposits me so insured) or in
<br />any Federal Home Loan Bmik. Lender shall apply the Funds to pay the Escrow Items no later that the time
<br />specified under RESPA. Leader shall not charge Burrower for holding mid applying the Funds, annually
<br />analyzing the escrow account, or verifying the Ilsaow Items, unless Lender pays Borrower interest on the
<br />Funds and Applicable law permits Lender to make such a chmgu Undess an agrocnhcnt is made in writing
<br />or Applicable I.aw requires interest to be paid on the Funds, Lender shall not be required to pay Borrower
<br />any interest or earnings on the Funds Evil mid Lander can agree in writing, hawser, that interest
<br />shall be paid on the Fund Lender shall give to Burial without charge, an annul accounting of the
<br />Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined wider RFSPA Lender shall account to
<br />Donower for the excess funds in accordance with RESPA. If there is a shortage of Fund hold in escrow,
<br />as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Burrower shall Flay to
<br />I ceder the amount necessary to move up the shortage in accordance with RESPA, but in no more that 12
<br />monthly payments. If There is a deficiency of Fund, held in escrow, as defined under RESPA, Leader shall
<br />notify Borrower as required by RESPA, and Borrower shall pay to Leader the amount necessary to make
<br />up the deficiency in accordance with RESPA. but in no more than 12 monthly paymema.
<br />Uput payment In full of all sums secured by this Security Instrument, London shall promptly refund
<br />to Boaowa any Finds held by Leader.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessment, charges, f e , 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 Commonly Association Dues, Forst and Assessments, if any. To
<br />the extent that these items are Escrow Items, Boaowa shall pay than in the moral provided in Section 3,
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