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<br />200702415
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<br />premiums. if any, or any sums payable by Borrower to Lender in lieu 01' thtl payment of MQrtgnge
<br />Insurance premiums in accordance with the provisions of Section :10. These items ar~ called "Escrow
<br />Items." At origin.'\lion or at any time dUring the term of the Loan. LenUl;!r may requite that Community
<br />Association Dues, Fees, and. Assessments, if any, be escrowed by Borrower, and such dues, fees amI
<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 Lcndtlr the Funds for Escrow hems unless Lender waives
<br />Borrower's oblig;ation to pay the Funds for any or all E.'lcrow Hems. Lender may waive BOlTower's
<br />obligation to pay (0 Lender Funds for any ar all Escrow Items at any time. Any such waiver may only be
<br />in writing. In the event of such waiwr, Borrower shall pay directly. when and where payable, the anlounts
<br />due far any Escrow Items for which payment of Funds has been waived by L.l;!nder aJldt if Lender requires.
<br />shall furnish to Lender receipu evidencing such payment within such time period as Lender may require.
<br />Borrower's obligation to ma](e 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 ,lOd agreement"
<br />is used in Section 9. If Borrower is obligated to pay Escrow Items d.ircctly, pursuant to a waiver, mId
<br />Borrower tails to pay the artlOUnl due for an Escrow Item, Lender may exercise its rights under Section 9
<br />and pay such amount and Borrower shall then btl obligated under Section 9 '0 repay to Lender any such
<br />amount. Lender may revoke lhc 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 aU Fun4s, and in
<br />such amounts, that are then rcquirtld under tills Section 3.
<br />Lender may, at any time, collect and hold Funds in an arnOUnl (a) sufficient to perJnit Lender to apply
<br />thtl Funds at the time spccified under RESPA, and (b) not to exceed the maximum amount a lender can
<br />require under RESPA. Lender shall estimate the amount of FUMS aue on the basis of current data and
<br />rcasonable estimates ot' eJtpenditures of funlre Escrow It~'Tl1S or otherwise in accordance with Applicable
<br />Law.
<br />The Funds shall bl! htllcl in an i1l.Stitution whose deposits are lnsurca by a fecleral agency,
<br />instrumentalHy, or entity (incJuding Lender. if Lender is an insLHution whose deposits are so insured) or in
<br />any FederaJ I-lame Loan Bank. Lender shall apply the Funds to pay the Bscrow Items no later than the time
<br />spccitil;!d under RESPA. Lr::mlcr shall not charge Borrower for holding and applying the Funds, annually
<br />analyzing the escrow account, or verifying the Escrow Items, unless: Lendt;.'f pays Borrower intercst on the
<br />Funds and Applicable Law permits Lender to maI<:e such a charge. Unless an. agreement is made in writing
<br />or Applicable Law requires interest to be paid on the FlUlds, Lender shall not be required to pay Borrower
<br />any interest or earnings on the Funds. Borrower ana Lender can agree in writing, however, that intereSlt
<br />shall be paid on ~he Funds. Lendet shall giw to Borrower, witl'1ou.t charge. <Ul annual accol/Juing of the
<br />Fuml.s as required by RESPA,
<br />If there is a surplus of Funds: htlld in escrow, as detined 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 RBSPA, Lender shall notify Borrower a.~ required by RESPA, and BOrrOwer shall pay to
<br />Lemler 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 ill CSCrow, as defined under .RESPA., lender shELlI
<br />notify Borrower as required by RESPA, and .Borrower shall pay to Lender the amount necessary to make
<br />up Ibe del1ciency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all SlUns secure<! by this Security InstrU1'J'l.eT1t, Lender shall promptly refunll
<br />to Borrower any Funds held by Lender.
<br />4. Charges; Liel1s. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which can attain priority over this Security Instroment, If;lasehold payments or
<br />ground rents on the Property, it" any, and Community Association Due::;, FI;!f;lS, and Assessments, if any. To
<br />the elttent that these items art! EScrow Items, Borrower shall pay them in the ffiMner provided in Section 3.
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<br />G.6llll!l;) ICllali1
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<br />IniliOl",~I-J
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<br />POBO 5 01 15
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<br />Form 3028 1(01
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