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200207441
<br />premiums, if erry, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
<br />Insurance premiums in aceordmice with the provisions Of Scctimi 10. Ilhese items are called "Escrow
<br />hens." At origination or at any time during the term of the Loan, Lender may require that Community
<br />Association Dues. Fees, mid Assessments, if any, be escrowed by Borrower, mid such dues, fells and
<br />assessments shall be an Escrow Item. Borrower shall promptly Furnish In Lender all notices of amounts to
<br />be paid under this Section. Borrower shall pay Lender the Funds for Escrow htnns unless Lender waivcs
<br />Borrower's obligation to pay the Funds 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 event of such waiver, Borrower shall pay dircclly, when and where payable, the amounts
<br />due for any Escrow Items for which payment of Funds has been waived by Iendcr and, if Lender requires,
<br />shall furnish to Lender receipts evidencing Such payment within such Itnc period as Lender may require.
<br />Borrower's obligation to make such payments and to provide receipts shall lur all purposes be deemed m
<br />be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement"
<br />is used in Section 9. If Borrower is obligated to pay 8serow flu lls directly, pursuant to a waiver, and
<br />Borrower fails to pay the amount due for an Escrow Item, Leader may exercise its rights under Section 9
<br />and pay such amount and Borrower shall then be obligated under Section 9 to repay to bender any such
<br />amount. Lender may revoke the waiver as to :cry or all Escrow Items at any time by a notice given in
<br />accordance with Section L5 and, upon such revocation, Borrower shall pay to Lender all Funds, mid in
<br />such strainers, that are then required under this Section 3.
<br />Lender may, al any here, collect and hold Funds in an museum (a) sufficient to permit Leader to apply
<br />the Funds at the time specified under RESPA, and (b) not to exceed the ntaxinntni amount a lender can
<br />require under RESPA. Lender shall estimate the amount of Funds due nn the basis of current data and
<br />reasonable estimates of expenditures of futum Escrow Items or otherwise in acLandaraV with Applicable
<br />Law.
<br />nic Fluids shall be held in an Institution whose deposits are insured by a ldrial agency,
<br />itvsL,mv,valdty, or entity (including Lender, if Lender is an institution whose deposits arc an insured) or in
<br />any Federpl Home Loan Bank. Lender ,shall apply the Funds to pay the Escrow Items no later than 1110 Ionic
<br />specified under RESPA_ Lender shall not charge Borrower for holding and applying the Funds, annually
<br />wellyting the escrow account, or verifying tie Escrow Items, unless Leader pays Borrower interest ou the
<br />Funds and Applicable Law permits Lender to make such a charge. Unless all agretanpn is made in writing
<br />or Applicable Law requires interest to he paid on the Funds, Lcnder shall not be mclo imd to pay Harrower
<br />any interest or earnings on the Funds, Borrower mid Lender can agree in writing. however, that interest
<br />shall be paid on the Funds. Lender shall give to Borrower, without charge, an mieual accounting of the
<br />Funds is required by RESPA.
<br />If there i,a a surplus of Fund=: held in escrow. ss defined under RESPA, Icnder shall account to
<br />narrower for the amass funds in accordance with RESPA. If there is a shortage of Funds held in escrow,
<br />as doef ined under RESPA. Lender shall notify Borrower as required by RESPA, and Borrower shall pay to
<br />Lender the anIDUnt necessary to make up the shortage in accordance with RESPA, but in no more than 12
<br />monthly payments. If there is a deficiency Of Funds held in eseraw, as defined under RESPA, Lender shall
<br />notify Borrower as required by RESPA, mid Borrower staff pay to Lender the amount necessary to make
<br />up the deficiency in accordance with RESPA, but in no [Wore than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security Iusel ment, Lender shall promptly rcl'urid
<br />to Borrower any Funds held by Lender.
<br />A. Charges; Liens. Borrower 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 tents on the Property, if any. and Connally Association Duos, Fees, and Asasameuts, if any. To
<br />the extent that these items arc Escrow Items, Borrower shall pay them in the wander provided in Section 3.
<br />M -61NE1 tcou, v.y" s m is �� I Form 3028 1101
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