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It Lender receives m pay any late charge due, Periodic Payment is outsWa piepayments shalt be applied first to any I Any application of payment shall not extend or postpone the due date, 3. Funds for Far row Items.l until the Nme is paid in full, a sum (the" F other items which can attain priority over the any, be escrowed by Borrower, and so famish to Lender all notices of amounts unless Lender waives Borrower's oblig obligation to pay to Lender Funds for a event of such waiver Boatowershallpa 200208950 a delinquent Periodic Payment which includes a sufficient Mount In the delinquent payment and the lace charge. if more than one )ayment received from Borrower to the repayment of the Periodic aid in ffill. To the extent that any excess exists after the paymentis ants, such excess maybe applied to any late charges due. Voluntary uges and then as described in the Note. seeds, or Miscellaneous Proceeds to principal due under the Note amount, of the Periodic Payments. pay to Lender on the day Periodic Payments are due under the Nose, ide for payment of amounts due for: (a) laces and assessments and istrument as a lien or encumbrance on the Property; (b) leasehold premiums for to pay the Funds for any or all Al Escrow Items at anytime. , ctly when and where payable, an Escrow item. Fees, and In the -- payment of Funds has been waived by lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to he a covenant and agreement contained in this Security Instrument, as thephrase "covenant and agreement" is used in Section 9. if Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. lender mayrevoke the waiver as m =yet all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to lender all Funds, and in such amounts, that are then requited under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits me so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds in pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires Interest to be paid on the Funds, Lender shall not be required m pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall paym Lenderthe amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly ppayments. Upon payment in full of all sums secured by this Security Instrument, Lender shall pmmptiyref indto Borrower any Funds held by Lender. 4. Charles; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over th is Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if my. To the extent that these items arcEscinw Bear, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the ohhgalion secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreemenp (b) wntesta the lien in good faith by, or defends against enforcement of the lien m legal proceedings which in Lender's opinion operate m prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings aze concluded; or (c) secures from the holder of the lien an agreement satisfaclory In Lender subordinating the lien to this Security Instrument If Lender determmcs that any part of the Properly is subject to a lien which can attain priorityover this Secunty instrument, lender may give Borrower a notice identi%ngl elien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take nest or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a nest -time charge for a real estate tax verification and/or reporting service used by Lender in correction with this Loan. 5. Properly Insurance. Borrower shall keep the imprended cis now existing an hereafter hazards lino nth g, but not insured xgains[ Toss by fire, hazards included within the term "extended .This insurance and any other hazards including, but not limited ngearthquakes and floods, for which Lender requires insurauce. This insurance shall es maintained in the amounts (including deductible levels) and for the periods that Lender requires. What render requires pursuant to the preceding sentences can change during the term of the Iran. The insurance carrier providing the insurance shall un chosen by Borrower subject re Lender's right m disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower ro pay, in connection with this Loan, either. (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one -time charge for flood zone determination and certification services and subsequent charges each time remappings nr similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. if Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of insurance coverage soobtained mightsignificantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Now rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by leader and renewals e, sins policies shall be subject to gee and/or m disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an shall promptly payee. Lender shall have the right premiums the and and notices. If obtains my form of shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance N RRASRA-- Single Family- -Fwude Matl reddie Mac UNIFORM INSTRUMRNT Form 3028 1 /01 (puge3 fA pagem) 9954.CV raN3) G11942 GOTG("291 9)