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<br />200700648
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<br />premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance
<br />premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At
<br />origination or at any time during the term of the Loan, Lender. may require that Community Association
<br />Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be
<br />an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this
<br />Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation
<br />to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender
<br />Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such
<br />waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for
<br />which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts
<br />evidencing such payment within such time period as Lender may require. Borrower's obligation to make such
<br />payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained
<br />in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is
<br />obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an
<br />Escrow Item, Lender may exercise its right<; under Section 9 and pay such amount and Borrower shall then be
<br />obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all
<br />Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation,
<br />Borrower shall pay to Lender all Funds, and in such 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 to apply
<br />the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can
<br />require under RESP A. Lender shall estimate the amount of Funds due on the basis of current data and
<br />reasonable estimates of expenditures of future Escrow 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,
<br />or entity (including Lender, if Lender is an institution whose deposit<; are so insured) or in any Federal Home
<br />Loan Bank. Lender shall apply the Funds to 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
<br />escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and
<br />Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable
<br />Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or
<br />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
<br />RESPA.
<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 RESP A. If there is a shortage of Funds held in escrow, as
<br />defined under RESPA, Lender shall notify Borrower as required 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 than 12
<br />monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESP A, Lender shall
<br />notify Borrower as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up
<br />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 to
<br />Borrower any Funds held by Lender.
<br />4, Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which can attain priority over this Security Instrument, leasehold payments or
<br />ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the
<br />extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
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<br />.-6A(NE) (0407).01
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<br />Initials: E..1o~.~.I--<.&,
<br />Form 3028 1101
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