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200208943
<br />premiums, if any, or any sums payable by Borrower to Lender in lice of the payment of Mortgage Insurance
<br />premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At
<br />origination or at any time during the term of the Lear, Lender may require that Community Association
<br />Dues, Fees and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be
<br />an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to he paid under this
<br />Segtion. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation
<br />to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender
<br />Funds for any or all Escrow Items at any time. Any such waiver tray only be in writing. In the event of such
<br />waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for
<br />which payment of Funds has been waived by Lender and, if lender requires, shall furnish to Lender receipts
<br />evidencing such payment within such time period as Lender may require. Borrower's obligation to make such
<br />payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained
<br />in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is
<br />obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an
<br />Escrow Item, Under may exercise its rights under Section 9 and pay such amount acrd Borrower shall then be
<br />obligated under Section 9 to repay to Lender any such summit. Lender may revoke the waiver as to any or all
<br />Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation,
<br />Borrower shall pay to Lender all Funds, and in such amounts, that arc then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender 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 amount of Funds due on the basis of current data and
<br />reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality,
<br />or entity (including Lander, if Lender is an institution whose deposits are so insured) or in any Federal Home
<br />Iran Bank_ Lander shall apply the Funds to pay die Escrow Items no later than die time specified under
<br />RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing die
<br />escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and
<br />Applicable Law permits Under to make such a charge. Unless an agreement is made in writing or Applicable
<br />Law requires interest to be paid on the Funds, Lender shall not he required to pay Borrower any interest or
<br />earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the
<br />Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by
<br />RESPA.
<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 acemdancc with RESPA. If there is a shortage of Funds held in escrow, as
<br />defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to
<br />Lender the amount necessary in make up the shortage in accordance with RESPA, but in no more than 12
<br />monthly payments. If them is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall
<br />notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make tip
<br />the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to
<br />Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />annhumblc to the Property which can attain priority over this Security hisnument, leasehold payments or
<br />ground rents on the Property, if any, and Commmnuty Association Dues, Fees, and Assessments, if any. To the
<br />extent that these items are Escrow Items, Borrower shall pay them in the manner providcd�jn S tion 3.
<br />®6(NE) Imao ne sans
<br />Form 3028 II01
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