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200214022
<br />preniunus, if any, of any sums payable by Borrower m Lender 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 cscruwcd by Borrower, and such dues, tees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts 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 Escrow Itcros. Lender may waive Borrower's
<br />obligation to pay m Lender Funds for any or all Escrow Items at any time. Any such waive 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 Lender may require.
<br />Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to
<br />Ire a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement"
<br />is used in Seuion 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and
<br />Borrower tails to pay the amount due for m 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. bander 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 to Lender all Fmtds, and in
<br />such amounts, that are then required under Otis Scvlion 3.
<br />Lender may, at any time, collect and hold Funds in an enomd (a) sufficient to permit Lender to apply
<br />the Punds at the time specified under RESPA, and (b) not to exceed the maximum amount a hander can
<br />require under RESPA. Lender shall ettintate the atnount of Funds due on the basis of current data and
<br />reasonable estimates of expenditures of future Escrow Imes or otherwise in accordance with Applicable
<br />Isw_
<br />[he Punds shall be heal in an institution whose deposits are insured by o federal agency,
<br />instrumentality, or entity (including Lender, if Lender is an institution whose deposits are an insured) or in
<br />any Federal Home Loan Bank. Lender shall apply the Funds to pay We Escrow Items no later than the time
<br />specified under RESPA. Lender shall not charge Borrower for holding and applylug We Funds, annually
<br />analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the
<br />Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing
<br />or Applicable Law inquires interest to be paid on the Funds, Lender shall not be required to pay Borrower
<br />any interest or earnings un Lite Funds. Borrower and Lender can agree in writing, however, that interest
<br />shall be paid on the Funds_ Lender shall give to BuITOW(a, without charge, an annual accounting of the
<br />Funds as required by RESPA.
<br />If there is a sugdua of Funds held in escrow, as defined under RESPA, Lender shall account to
<br />Borrower for (lie excess funds in acco..Im,c with RESPA. IF there is a shortage of Itunds held in escrow,
<br />as defined under RESPA. Lender shall notify Borrower as required by RESPA, and But shall pay to
<br />I ender the nntount necessary to make up the shortage in accordance with RESPA, but in no more than 12
<br />monthly payments. If there is a dL,f icucy of Funds held in escrow, as defined under RESPA, tender shall
<br />notify Borrower as required by RESPA, and BnrrnWLu shall pay to Lender the amount necessary to make
<br />up the deficiency in accordance with RESPA, but in no more than 12 monhly payments.
<br />Upon payment in full of all sums secured by this Security Instument, Lender shall promptly refund
<br />to But any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assctsmcnts, charges, fines, and impositions
<br />attributahle to the Property which can attain priority over this Security Instrument, leasehold payments or
<br />ground rents on the Property, if any, dud Comnuntity Association Dues, Fees, and Assessments, if any 'Co
<br />the extent that these items are Escrow Items, Borrower shall pay Ihem io the manner provided in Section 3.
<br />AlR] -6WEl mcoci of a -ie a ='I" Form 3028 1101
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