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200210174
<br />DOC ID # 0002033064753063
<br />Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied
<br />first m any prepayment charges and then as described in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds in principal due under the
<br />Now shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under
<br />the Note, not the Now is paid in full, a sum (the "Funds ") to provide for payment of amounts due for: (a)
<br />taxes and assessments and other items which can attain priority over this Security Instrument as a lien or
<br />encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for
<br />any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any
<br />sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance
<br />with the provisions of Section 10. These items we raped "Escrow Items." At origination or at any time during
<br />the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be
<br />escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly
<br />famish in Lender all notices of amounts w be paid under this Section. Borrower shall pay Lender the Funds for
<br />Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items.
<br />Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any
<br />such waiver may only be in writing. In the event of such waiver, Borrower shall pay direcdy, when and where
<br />payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if
<br />Lender requires, shall furnish In Lender receipts evidencing such payment within such time period as Lender
<br />may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be
<br />deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and
<br />agreement' is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver,
<br />and 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 Borrower shall then be obligated under Section 9 to repay In 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 />accordance with Section 15 and, upon such revocation, Borrower shall pay In Lender all Funds, and in such
<br />amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender m apply the
<br />Funds at the time specified under RESPA, and do not in exceed the maximum amount a lender can require
<br />under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable
<br />estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an instiNdon whose deposits are insured by a federal agency, instrumentality,
<br />or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home
<br />Lours Bank. Lender shall apply the Funds in pay the Escrow Items no later than the time specified under
<br />RESPA Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow
<br />account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law
<br />permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires
<br />interest in be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the
<br />Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender
<br />shall give m Borrower, without charge, an annual accounting of the Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower
<br />for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined
<br />under RESPA, lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the
<br />amount necessary In make up the shortage in accordance with RESPA, but in no more than 12 monthly
<br />payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify
<br />Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary m make up the
<br />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 hold by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable
<br />m the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on
<br />the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these
<br />items are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless
<br />Borrower: (a) agrees in writing to the payment of the obligation seemed by the lien in a manner acceptable to
<br />Lender, but only so long as Borrower is pertorming such agreement; (b) comests the lien in good laid] by, or
<br />defends against enforcement of the Gen in, legal proceedings which in Lender's opinion operate to prevent [be
<br />enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; m
<br />(c) secures from the holder of the Gen an agreement satisfactory to Lender subordinating the lien to this
<br />Security Instrument. If Lender determines that any part of die Property is subject to a Gen which can attain
<br />priority over this Security lnstrument, Lender may give Borrower a notice identifying the lien. Within 10 days
<br />of the date on which that notice is given, Borrower shall satisfy the Gen or take one or more of the actions set
<br />forth above in this Section 4.
<br />Lender may require Borrower to pay a one -time charge for a real estate tax verification and/or reporting
<br />service used by Lender in connection with this Loan.
<br />- 6A(NE)raoo5)o1 CHL(01101) aageaonl Form 3028 1101
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