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200600025 prcmiwns, if any, or any som'. payable by Borrower to Lender in lieu of the payment of MOl1.gage Insurance premiums in accordance wilh the provisions of Section. 10. These items are called "Escrow JIL"I11.~." At origination or at any time during tb~ term of the Lo.1.Il., Lender may require that Communi.ty Association Dues, Fees, and AS~s.\menrs, if any. be escrowed by Borrower. :md such dues, fees <U1c:l assessments shall be an Escrow Item. Borrower &hal1 promptly furnish to Lender all Donces of amounts to be paid under this Secti(lI1. Borrower shall pay l..endcr the Funds for E.'lCI'OW Items unless Lt.-nder waives Borrower's obligation to pay the Funds for a,1Jy or al1. Escrow Items. Lender may waive Borrower's obligation to pay to Lender F\ll'1d... {or any or all E.<:cTOW Items at any time. Any such waiver may only be in writing. In the event of such waiver. Borrower shall pay c:lirc:ctJy. When and where payable, the amounts due for any Escrow Itr;::rm: for which payment of Funds has been waived by I...ender and, if Lender requires, shl!ll fumish to Lender receipts evidCl'1Cing such paymeot within such time period a~ Lender may require. Borrower's obligation. to make such paymenL" and to provide receipts :)hall for all purposes be dccmod to be a covwant lIIld agreement contained. in this security Instrument. as the phrase "covenant and agn::cmentft is used in SectiOJl 9. I{ 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 SectiOD 9 and PIlY such amount and Borrower shall then be obligated umk'" Section 9 to repay to Lender any such amount. Lender may revoke the Walver as to any or all Escrow Items aI. any time by a Jloticc given in accordance with SectiOD 15 and. upon such revocation. Borrower shall pay to Lender all Funds, aDd. in such amounts. 1hat arc then required uilder this Section 3. Lender may, at any time. collect and hold Funds j,n an wnount (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 d\le on the basis of current dllUi and reasonable estimates of expc:odimres of future Escrow ltems or otherwise in aCCOtdanre with Applicable Law. The Funds sball be beld in an instimtion whose d;ePosil<; ate insured by a fedctal agency, instrumentality, or entity (including Lender, if .lender is an lnstimtion whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later tb;'lfl the time specified under RESPA. Lendtt shall not charge Borro'wCt for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items. unlC$S Lender pays Borrower interest on the Funds and Applicable Lawpermlts Lender to make such a charge. Un]e&.'\ an agreement is made in writing or Applicable Law requir~!l interest to be paid on the Funds, Lender shaIJ not be requIred to pay Borrower any interest or earnings OD the Funds. Borrower WId Lender can agree ID writing, however. tbat interest shall be p.ud on the Funds. LeDder ~llll give to Borrower, without charge, an :mnual accounting of the Funds as required by RESPA. If there is a lilll'plus of Funds he]<l in escrow, as defined under RESPA. Lender shall account to Borrower for the excess fwds in accordance w),tn RESPA. If there is a shortage of FWlds held in escrow, as defmed under RESPA, Lender ~all notify Borrower -lIS required by RESPA. and Borrower shall pay to Lender the amount ncc:c:&.<>ary to make up the shortage in accoJWnC'l: with RESPA. b"n in. no more than 12 monlhly payments. If thert is a deficiency of Funds hc:ld in escrow. ,IS defmed under RESPA. Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lend~ the amount nec;:egsary to make up the deficic:o.cy in accordance with RESPA, but in no mote than 12 mOJlthly payments. Upon payment in fllll of all SllIIlS :se(:l)t(:d by this Security Instroment, Lender shall promptly ref\ll'1d to Borrower any Funds held by Lender. 4. Charges; Liens.. Borrower shall pay all taxes, as...~cnts. charges. fines, and imposition.'l attributable to the Property which can attain priority over this Security l'll&trument, leasehold payments or ground reDts on the Property, if any. and Community As..I\ociation Dues, Fees. :md Assessments. if any. To the extent that these ittlnS are Escrow Items, Borrower shall pay them in the manner provided in Section 3. ,zcRJ1 0512096854 Ini~i~I.7R.J:J Form 3028 1/01 fll~/:lAINE) (0407) I'~"" (i ~f 1:; 9EO.d WElEEZ9lB 31lIl lSHlj XlIHllJ8S L8:Bl 900Z-9l-J3a