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200207256
<br />premiums, if any, or any sans payable by ]3orxower to Iender in lieu of the payment of Mortgage
<br />Insurance premiums in ordance with the provisions of Section 10. These items are called "Escrow
<br />Itmns." At origination or at any time during the term of the Loan, ;.ender may require that Community
<br />Association Does, Fees, and Asseswnents, if any, be escrowed by follower, and such dues, fees mid
<br />assessments shall be an Escrow Item borrower shall promptly fumish to Lender all notices of amounts to
<br />be paid under this Section. Borrower shall pay Lerida the Funds for Escrow harts unless Lender waives
<br />Em ower's obligation to pay the Funds for any or all Escrow hems. Lender may waive Borrower's
<br />obligation to pay to I.mder Ponds for any or all Escrow Items at any tier. Any such waiver may only be
<br />in writing. In the even 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 Lunde' and, if Lender requires,
<br />shall furnish to Lender inertias evidencing such payment within such time period as Lender may require.
<br />Fkmmwer's obligation to make such payments and to provide receipts shall for all purposes be deemed to
<br />be a ;rot and agreement contained in this Security instrument, as the phrase "covens t and agreement" is used in Scotism 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 harrower shall then he obligated under Section 9 to repay to Lender any such
<br />prnount. 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 Fonda, and in
<br />such amounts, that are Wen required under this Section 3.
<br />Lender may, at my time, collect prod hold Funds in an amount (a) sufficient to permit Lander to apply
<br />the Funds ut the (;tine specified under RESPA, and (b) riot its exceed the maximum amount a lender can
<br />require under RESPA. Lepuba shall estimate the amount of Funds due on the basis of current data and
<br />reasonable estimates of expenditures of fdnue Escrow Items or otherwise in accordance with Applicable
<br />Law.
<br />The Fund shall be held in an institution whose deposits me insured by a federal agency,
<br />instrumentality, or entity (including bender, If Lender is an institution whose deposits are so insured) or in
<br />any Federal home Loan Bank_ I ender shall apply the Funds to pay the Escrow Items no later than the time
<br />specified under RESPA. Lender shall not charge Harrower for holding and applying the Funds, amorally
<br />analyzing the escrow account, ta vetifiing the Escrow Ines, uness Lender pays Borrower interest on the
<br />Funds and Applicable Law permits Leader to make such a charge. Unless an agreement is made in writing
<br />or Applicable Law requires inarest to be paid on the Funds, Lender shall not be required to pay harrower
<br />wry interest or earnings on the Funds Borrower and Lender can agree in writing, boweve, that mares
<br />shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the
<br />Funds as required by Ifil
<br />If there Is a surplus of Funds 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, Leader shall notify Borowcr as required by RESPA, wad Borrower shall pay to
<br />Lender the amount necessary to rake up the shortage in accordance with RESPA, but in no more Ihwr 12
<br />monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall
<br />notify Borrower its required by RFSPA, and forrower shall pay to leader the amount necessary to make
<br />up the deficiency in maradanee with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in fall of all sums secured by this Security Instrument, Lender shall promptly refund
<br />to Harrower any Fends held by Lender.
<br />0. Charges; Liens. narrower shall pay all taxes, as s emm(s, charges, fines, and impositions
<br />attributable to the Property which can attain priority over this Security Instrument, leasehold payments or
<br />ground torts on the Property, if any, and Community Association Dues, Fees, and Assessments, if any To
<br />the extent that these itenu are Lscrow Items, Borrower shall pay them in the manner provided in Section 3.
<br />,oa`C` 229156
<br />ENEIbrow rgie,of , Form 3028 1101
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