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<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount
<br />to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one
<br />Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic
<br />Payments if, and to the extent that, each payment can be paid in full. To the extent that my excess exists after the payment is
<br />applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary
<br />prepayments shall be applied first to any prepayment charges and then as described in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note
<br />shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Borrower shallpay to Lender on the day Periodic Payments are due underthe Note,
<br />unfit the Now is paid in full, a sum (the "Funds ") to provide for payment of amounts due for. (a) taxes and assessments and
<br />other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold
<br />payments or ground rents on the Property, if any; (c) premiums for any and al I insurance required by Lender under Section 5;
<br />or
<br />unless Lender waives Borrower's obligation to pay the Funds
<br />obligation to pay to Lender Funds for any or all Escrow Items
<br />event of such waiver, Borrower shall pay directly, when and w
<br />payment of Funds has been waived y Lender and, if Lende
<br />payment within such time period as Lender may require. Bc
<br />receipts shall for all purposes be deemed in be a covenant and
<br />"covenant and agreement" is used in Section 9. If Borrower is
<br />waver as to any or al I Escrow Items at any time
<br />Borrower shall pay to Lender all Funds, and in
<br />Lender may, at any time, collect and h(
<br />the time specified under RESPA, and (b) not to
<br />Association
<br />shall be an Escrow Item. Borrower shall promptly
<br />3orower shall pay Lender the Funds for Escrow Items
<br />or all Escrow Items. Lender may waive Borrower's
<br />me. Any such waiver may only be in writing. In the
<br />Nunes, shall turnish to Lender receipts evidencing such
<br />,wer's obligation in make such payments and to provide
<br />eement contained in this Securitylnstrume rt, as the phrase
<br />ligated to pay Escrow Items directly, pursuant to a waiver,
<br />rider may exercise its rights under Section 9 and pay such
<br />repay to Lender any such amount. Lender mayrevoke the
<br />in accordance with Section 15 and, upon such revocation,
<br />at are then required under this Section 3.
<br />nount (a) sufficient to permit lender to apply the Funds at
<br />mum amount a lender can require under RESPA. Lender
<br />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, or entity
<br />Home an
<br />(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Hoe Le Bank. Lender shall
<br />apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower
<br />for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender
<br />pays Borrower interest on the Funds and Applicable Law permits Lender in make such a charge. Unless an agreement is
<br />made in writing or Applicable law requires interest in be paid on the Funds, Lender shall not be required to y Borrower
<br />any interest or 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 RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the
<br />excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender
<br />shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the
<br />shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in
<br />escrow, as defined under RESPA, Lender shall notify Borrower as required byRESPA, and Borrower shall paytoLender the
<br />amount necessary in make up 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 in Borrower any
<br />Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any,
<br />and Community Association Dues, Fees, and Assessments, if any. To the extent that these items areEscrowhems, Borrower
<br />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 Borrower. (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as
<br />Borrower is pe ornting such agreemenq @) contests the lien in goad faith by, or defends against enforcement of the lien m,
<br />legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are
<br />pending but on yuntil such proceedings are concluded; or (c) secures from the holder of the lien anagreemenIisatisfacmrym
<br />Lender sobordinating the lien m this Security Instrument If Lender determines that any part of the Propertyy is subject [o a
<br />Tien which can attain priority over this Severity Instrument, lender ntay give Borrower anotice of ntifyingthe lien Within
<br />10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one m more of the actions set forth
<br />above m this Section 4.
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service
<br />used by Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erectedontheProperty
<br />insured against loss by fire, hazards included within the term "extended coverage;' and anyother hazards including, but not
<br />limited to, earthquakes and Floods, for which Lender requires insurance. This insurance shall be maintained in the amounts
<br />(including deductible levels) and for the periods that lender requires. What lender requires pursuant to the preceding
<br />sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by
<br />Borrower subject m Iendei s right to disapprove Borrower's choice, which right shall not be exercised unreasonably.
<br />lender may require Borrower to pay, at connection with this Loan, either (a) a one -time charge for flood zone
<br />determination, certifi cation and tracking services; or (b) a one -time charge for food zone determination and certification
<br />services and subsequent charges each time remappings or slar changes occur which reasonably might affect such
<br />determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal
<br />Emergency Management Agency in connection with the review of anyflood zone determination resulting from an objection
<br />by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at
<br />Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of
<br />coverage. Therefore, such coverage shall cover Lender, but might or might not printer Borrower, Borr ower's equity in the
<br />Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage
<br />exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under du Section 5 shall
<br />become additional debt of Borrower secured by this Security Instrument These amounts shall bear interest at the Note rate
<br />from the dale of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting
<br />payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right m
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an
<br />additional loss payee. Lender shall have the right in hold the policies and renewal certificates. If Lender requires, Borrower
<br />shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance
<br />NERMS"-- Single Family— Fannie Mee /Freddie MacMFORMINSTMMslENT Farm3028 1/01 (page3af8pages)
<br />9956cV(IN2) G11899
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