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200214001
<br />premiums, it any, or any sums payable by Borrower to leader in lieu of the payment of Mortgage
<br />Insurance premiums in accordance with the provisions of Section 10. These items are 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 dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amount% to
<br />be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives
<br />Borrower's obligation to pay the Funds for any or all Fscrow hems. Lender may waive Borrower's
<br />Obligation to pay to Lender Funds for any or all Escrow Items at any rime. Any such waiver may only be
<br />in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts
<br />due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires,
<br />shall famish to Lender receipts evidencing such payment within such time period as Lander may require.
<br />Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to
<br />be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement"
<br />is used in Section 9. If Borrower is obligated to pay Escrow hems directly, pursuant to a waiver, and
<br />Rormwcr 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 to Lender any such
<br />amount, Lender may revoke the waiver as to any or all F,scrow Items at any time by a notice given in
<br />aaandance with Section 15 and, upon such revocation. Borrower shall pay to Lender all Funds, and in
<br />such amounts, that are then requited under this Section 3.
<br />Lender may, at any time, collect and hold Funds in art solution (a) sufficicm to permit Lender to apply
<br />the Funds at the time specified under RESPA, and do not to exceed the maximum amount a lender can
<br />require under RESPA. Lender shall estimate the amount of Funds due on the basis or current data and
<br />reasonable estimates of expenditures or fuwre P_rorow Items or otherwise in accordance with Applicable
<br />Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency,
<br />instrumentality, ar entity (including Lender, if Lender is an institution whose deposits are so insured) or in
<br />any Federal Home Loan Bank. Lender shall apply the Fttral% m pay the Escrow Items no later than the time
<br />specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, ano %illy
<br />analysing Ibc csomw account, or verifying the Escrow Items, unless Lender pays Borrower interest on the
<br />Iuunds and Applicable Isw permits Lender to stake such it charge. Unless an agreement is made in writing
<br />or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower
<br />airy tutcien or carnines cn the Funds. Borrower and Lender can agree in writing, however, that interest
<br />shall be paid on the FumLs_ Lender shall give to Borrower, without charge, an annual accounting of the
<br />Funds as required by RLSPA.
<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 accordance with RESPA. If there is a shortage of Funds held in escrow,
<br />as defined under RLSPA, Lender shall notify Borrower a% requirul by RESPA, and Borrower shall pay to
<br />Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more Bran 12
<br />monthly payuhcros. If there is a deficiency of Funds held in escrow, as defined under RLSPA. Lender shall
<br />amity Borrower as required by RESPA, and Borrownt shall pay to Leader the amount necessary to make
<br />up the deficiency in accordance with RLSPA, but in no more than 12 monthly payments.
<br />Lpnn payment in full of aii sums secured by this Security Instrument, Lender shall promptly refired
<br />to Borrower any Funds held by I Undo.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessment" charge%, (uses, and impositions
<br />auribuWble to the Property which can attain priority over this Security Instrument, leasehold payments or
<br />ground rents on the Property, if any, and C,tnnmm�ity Association Dues, Fees, and Assessments, it any. To
<br />the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
<br />(M EINEI 000�. �.n� r, „a��5 „rte - -- _ -- Form 3028 1101
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