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200207531
<br />premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
<br />Insurance premiums in accordance with the provisions of Section 10. Those i(cros arc called "Escrow
<br />Items." At origination or at any time during the term of the Loan, Lender may require that Community
<br />Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such does, fees and
<br />assessments shall be an Uscrow, Item. Borrower shall promptly furnish to Lenderall notices of amountsto
<br />be paid under this Section. Borrower shall pay Lender the Fronds for Escrow Items unless Lender waives
<br />Borrower's obligation to pay the Funds for any or all Escrow hems. Lcndcr may waive Borrower's
<br />obligation to pay to Lender Ponds for any or all Escrow Items at any time. Any such waiver may only be
<br />in writing. In the event of such waiver, Borruwershall pay dinectly, when and where payable, the amounts
<br />due for any Escrow Items for which payment of Funds has been waived by Lcndcr and, if Lcndcr requires,
<br />shall furnish to Lender receipts evidencing such payment within such time period as Lender may require.
<br />Borrower's ohligatio r to make such payments and to provide receipts shall for all purposes be deemedto
<br />be a covenant and zgreemenfcontained in this Security Instrument, as I he phrase "covenant and agreement'
<br />is used in Section 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 nay exercise its rights under Section 9
<br />and pay such amount and Borrower shalt then be obligated under Section 9 to repay to Lender any such
<br />amount Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in
<br />accordaneewith Section 15 and, upon such revocation, Burrower shall pay to Lcndcr all Funds, and in
<br />such amounts, that are then required under this Section 3.
<br />Lcndcrmay, at any time, collect andhold Funds in an amou t(a) sufficient to permit Lender to apply
<br />the Funds at the time specified under RESPA, and (b) not to exceed (he maximum amount a lender can
<br />require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and
<br />reasonableesticam es of expenditures of tumre Escrow Items or otherwise in accordanecwith Applicable
<br />Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency,
<br />instrumcntalil y, or untity (including Lender, if Lender is rot institution whose deposits are so insured) or in
<br />any FederalfIonic Loan Bank. Lendershall apply the Funds to pay the Escrow Itemsno later Than Ihctimc
<br />specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually
<br />analyzing the escrow account, or verifying the Escrow Items, unless Lunderpays Borrowerinterem on the
<br />Funds and Applicable Law permits Lender to make such a charge. Unless an agrnementis made in writing
<br />or Applicable Law requires mist car to be paid on the Funds, Leader shall not be repair edto pay Borrower
<br />any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, Ihat interest
<br />shall be paid on the funds. Lender shah 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 osrow, as defined under RESPA, Lender shall account In
<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 nofity, Borrower as retuuedby RESPA, and Borrower shall pay to
<br />Lender the amoum necessary to make up the shortage in accordanecwith RFSPA, but in no more than 12
<br />monthly payments. 11 there is a deficiency of Ponds held in escrow, as defined under RESPA, Lender shall
<br />notify Borrower as rcquiredby RESPA, and Boronvershall pay to Leader the amount necessary to make
<br />up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in lull of all sums secured by this Security Instrument, Lender shall promptly refund
<br />to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributableto the Property which can attain priority over this Security Instrument, leasehold payments or
<br />ground rents on the Properly, if any, and Community Association Duos, Fecs, and Assessments, if any. To
<br />the extent that these items are Escrow Items, Borrowershall pay themin the mannerprovided in Section 3.
<br />31FSC1970 (12100) r 041r35328 -+ mms.: /LI/�
<br />�-6AINEl moon. ayesm is Form3026 rot
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