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200704727 DOC ID#: 00016463810105007 Borrower to the repayment of the Periodic hymeDtt if, aDd to the extent th.. CllICb payment ClIO be peid in fUll. To the extent that any OXCOII cxistI 'after the PlYment II applied 10 the fUll payment of Ofte or more Periodic Paym~ IUch oxcess may be applied to any lItO chirps due. Voluntlry prepayments shall be applied tint to any prepayment ..... -' then u deaoribed iu the Note. Any applioatlon of paymCftts. InsurInco Prooeods. or MllCOllll'leOus Proceedt to principal duo under the Note shall not extend or poRpone 1ho due date. or chanp the IIIlOUJIt. of the Poriodie Payments, 3. FIIIIdI for Elerow [teals. Borrower shall pay to Lender on the day Periodic Payments are due Uftder the Note, until the Note Is paid in ftaU. a IUIIl (the "FwsdJ") to provide fQr pI)'IIlent of amounts due for. (a) taxes and asHNmCDtl and other 1_. which C8II attain priority over thill Security Instrument IS a lieD or encumbrance Oil the Property; (b) Ic:uchold payments or pound rents on the Property. if any; (0) premiums for any and aU inlW'lnoe roqulrod by Lender under Section S; and (d) Mortpac lnsutance pn:miums, irany. or any sums pcyable by Borrower to Lender In lieu of the payment of Morfatp Insurance premiums in accordance with the provisions of Section 10, These i1cmIan: ca1Jccl "Bscrow Items." At originatioa or at any time durin. the tem'l of the LoIn, Lender may req~ that Community Association Dues. Fees, and AstCSlimonts. if any, be eacrowed by Borrower, and such 4..._ and _monts shall he an Bscrow Item. Boft'Owcr shall promptly t\amisb to Lander all notices of emounll to be }Mid under this Section. Borrower shall pay Lencklr 1he Funds tor Escrow Items unless Lender waives Bomwer's. obll&ati011 to pi)' the Funds for any or all EsCrow Items, Lender may waive 8QrrQwer'$ obUption to pay to Lender Funds for anY or all Escrow Item. at any timo. Any IlJCh waiver may only be in writiq. In the event of such waiver. Borrower $he.ll pay ditectly. wbeD and where pay8ble, the BDlOUIlll due for lilY Escrow Item. for which payment of Funds h-. been waived by Lender and. if Lender Rlquires. shall tbmisb 10 Londer receipts evidencing .uch payment within such time period II Lender may require. Borrower's obliptlon to make such paymentS and to provide receipts sball for all purposoI be deemed to be a covenant and :apem0llt coataitlCld In this Security lDstnImtnt. as tho phruo "covcaant and ....-meat" is used in Secti91l 9. If &nower is oblip1ed to pay Escrow Items dli'ectly. punuant to a w.iver, Md DQrrower fails to pay the amount clue for an Escrow Item. Lender may exercillO ill rishts under Sectkm , and pay such UIl)unt and Borrower .un then be oblipted UDder Section 9 to repay to Lender any _ amount. Lender may revoke the waiver as to any or all Escrow ltemlat any time by a notice liven in accordance with SectIon IS Md, upon such revocation, Borrower shall pay to Lender all Funds. and in such amounts, that are tIleD required under this Section J, Lender may, at an)' time. colloct and bold FlUlds in an amount (-> suft1cicnt to permit Lender to apply the Funds at the time specified under RBSP A. 'IJId (b) not to exceed the maximum IlnOUIlt a lender can require under RBSPA. Lender shall estimate the llmOunt of Funds due on the buil of c;urrent data and reuonab1e estimates of expenditures of future Escrow Items or otherwise In accordance with Applicable Law. The Funds shall be held in an Institution whose deposit..... inaured by. fildctal qency, instrumentality. or entity (including Lender. if Lender i. 1ft inititution whose deposits are 10 insured) or in any FodcraI Home Lo8n Bank. Lender shall apply tho Funds to pay tho Escrow Items no later than the time specif1cd ullder RESPA. Lcndersball not charae Borrower IIr holding and applyma the Funds, annually analyzing the escrow account. or verifyilla the Escrow Item., unless Lender pan Bonowor interest on the Funds and Applicable Law permits Lender to mike suah a cb-.=. UnllliSI an qRlCIneat il made In writing or Applicable Law requires interest to be paid on the Fund.J. Lender ihall not be required to pay Borrowcrany intCl'Cllt or eamiDgS on the FUDd.. Borrow<< and Uader can IIft'O in writina. however, that interest shall be paid on the Funds. Lender shall give to &rrower, widlout obac'p.an llIIIlullUlCduntiq ofthc Funds 88 required by RESPA. Iftbcn is a surpl_ of Funds held in escrow. II defined under RESPA, Lender s~ ICl;OUDt to Borrower for the exceuiUnds ill IlCICOIdance with RESPA. If there is . shor1ap of Funds held in escrow, II defined under RBSPA, Lender shalt notify Borrower II required b)' RESP^, and Borrower shall pay to Lender the amount ~ to make up tit. sbonaae in aocordance with RBSPA, but in no more than 12 monthly payments. If there is . cleflcleacy of Funds beld in DCIVW, ai cJeftDecl undor RESPA, Lendci shall omity Borrower IS required by RESPA, Uld Bonowcr shaI1 pay 10 LOldor the amount oeccaary to make DP the deficiency in accordance with RESPA, but in no more than 1211lO1l1hly payments. UJIOn payment in fbll of all sums secured by this Security 1Dstrumcnt. LOlldel' shall promptly refund to Borrower an, Funds beId by Lolldel'. 4. Cbarpl; LIeu. Borrower .shall pay all fUel, ~ cbarpI. fines. ancIlmpositions attributable 10 the Property which can ItIain priority over this Seourity Inttruma'lt, leuebold payments or pound rents on the Property, if any, and Community Association Dues. Fees. and AsaessmClll1l, if any, To the extent that these items are Escrow Items. Bonowcr sball pay them in the IIl8IUlCI' provided in Section 3. Borrower shall promptly diJcbar&e Ifty lien which bas priority over this Security Instrument unl.. Borrower: (a) ar;rces In wridnl to the)Mr)'ftlent of the obllptlaD secured by the nOllIu a lMIIdClI' accepblble to Lender, but 0111)' 10 1008 as Borrower iI porfbrmJDa such aa.ncmeatj (b) coatclts tbo lica in aood faith by. or defonds against anfortemeat of tile Ii. in.1epI proceediDp whioh in Lcnder's opinicm operate to prevent the IJIfbrcemCftt of the lien while thole. pmeeedings are pending, but only until such proceedings are concluded; or (c) secures ftom the hoider of the lien an agreement .atisfactory to Lender subordinating tbc lien to this S<<:urity Instrument. If LCDdor dcttrmlna that any put of the Property Is subj~ 10 a llal which can attain priority over this Security Instrument,. Lendor., sive 8Oft'owcr a notice JdClltifYiDI the lien. Within 10 clay. of the date on whic;h that notice Is given, Borrower IhaII _~ the 1km or take ODe or IDOR of1be actions set fonh above in this SeotIo1l4. Leader may requite Borrower to pay . ODClotlme oharp tbr a Rat ... tlIX wrifioItioD.and/or ~ ~rvicc used by Leader in COIUIICtion with this LoIn. _ oIA(N1) (0407) CHI. (DMl5) ,... of 11 Fom'lS02l 1JU1