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<br />200702312
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<br />premiums, if any, or any sums payable: by Borrower to Lender in lieu of the payment of Mongage
<br />Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow
<br />Items." At origination or at any time dating the term of the Loan, lender may require that Community
<br />Association Dues, Fees. and Assessments, if any, be escrowed by Borrower, ancl such dues, fees lUld
<br />assessments shalt be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to
<br />be paid under this SCI;tion. SOITower shall pay Lender the Funds for Escrow IteJD& unless Lender waives
<br />Borrower's obligation to pay the Funds for any or all Escrow Items. Lender rtl8.y waive Borrower's
<br />obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be
<br />in writing. In the event of such waiver, Borrower shall pay directly I 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 furnish 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 />he a covenant and agreement contained in this Security InsttUment, as the phrase "covenant and agreement"
<br />is used. in Section 9. If Borrower is obligated to pay Escrow HeInS directly, pursuant to a waiver, 8nd
<br />Borrower fails to pay the amount due for an EscrOw Item, Lender may exercise it.!; 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 tlle waiver as to any or all Escrow Items at lmY time by a notice given in
<br />accotdance with Section 15 amI, upon such revocation, Borrower shall pay to Lender all Funds, and in
<br />such amounts, that are then required under this Section 3.
<br />Lender may, at any time, coUeet 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 mMinnun amount a lender can
<br />require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and
<br />reasonable estimates of e"'pendlmres of future Escrow Items or otherwise in accotdance with Applicable
<br />Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency,
<br />instrumentality, or entity (including Lender, if Lender is an imtitution whose deposits are sO insuted) or in
<br />any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time
<br />specified under RESPA. Lender shall not charge Borrower for holding and applying the 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 requires interest to be paid on the Funds. Lender shall not be required to pay Borrower
<br />any interest or earnings on tlle Funds. Borrower and Ltn'lder can agree in writing, however, that interest
<br />shall 00 paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the
<br />Funds as required by RESPA.
<br />If there is a surplus of funds held in escrow, as detined under RESPA, Lender shall account to
<br />Borrower fot the excess funds in accordance with RRSPA. If there is a shortage of Funds held in escrow\
<br />as defmed 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 witll RESPA. but in no more tban 12
<br />monthly payments. If there is a deficIency of Funds held in escrow, as defined under RESPA, Lender shall
<br />notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make
<br />up the deficiency in accordance with RESPA, but in no mote than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security IJ15trument, Lender shall promptly refund
<br />to Borrower any Funds heid by Lender.
<br />4, Charges; Liens. Borrower shall pay all taxes, assessments, Cl1.arges, fines, and impositions
<br />attributable to the Property which can attain priority over This Security Instrument, leasehold payment5 or
<br />sround rents on the Propeny, if any. and Community Association Dues, Fees, and Assessmonts, if any. To
<br />the extent that these itemS are Escrow Items, Borrower $b.a11 pay them in the manner provided in Section 3.
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<br />Inlllall'0 ...:J't,
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<br />_-6INf!1 100051
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<br />P~g~ 6 Qf 1li
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<br />Form 3028 1/01
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