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<br />200706183
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<br />DOC ID #: 00017594299007007
<br />Borrower to the repayment of the Periodic Payments if~ and to the extent that, each payment can be paid in
<br />full. To the extent that any excess exists after the paymcnt is applicd to thc full paymcnt of one or more
<br />Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be
<br />applied first to any prepayment charges and then as deseribed in the Note.
<br />Any application of payments, insuranee proeeeds, or Miscellaneous Proceeds to principal due under the
<br />Nott: shall not extend or postpone the due date, or change the amount, oftht: Periodic Payments.
<br />3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodie Payments are due under
<br />tht: Nott:, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a)
<br />taxes and assessments and other itt:ms which can attain priority over this Seeurity Instrument as a lien or
<br />encumbrance on thc Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums
<br />for any and all insurance required by Lender undcr Section 5; and (d) Mortgage Insurance premiums, ifany, or
<br />any sums payable by Borrower to Lender in licu of the payment of Mortgage Insurance premiums in
<br />accordance with the provisions of Section 10. These items are callcd "Escrow Items." At origination or at any
<br />time during the term of the Loan, Lender may require that Community Association Dues, Fees, and
<br />Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item.
<br />Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall
<br />pay Lender the Funds for Eserow Items unless Lender waives Borrower's ohligation to pay the Funds for any
<br />or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow
<br />Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay
<br />directly, when and where payable, the amounts due for any Escrow Itcms for which payment of Funds has
<br />been waived by Lender and, if Lender requires, shall furnish to Lt:ndt:r rt:ceipts evidencing such payment
<br />within such time pt:riod as Lender may require. Borrower's obligation to make such payments and to provide
<br />receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security
<br />Instrument, as the phrasc "covenant and agreement" is used in Section 9. If Borrower is obligated to pay
<br />Escrow Items directly, pursuant to a waiver, and Borrower fails to pay thc amount due for an Escrow Item,
<br />Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated
<br />undt:r Section 9 to rt:pay to Lt:nder any such amount. Lender may revoke the waivcr as to any or all Escrow
<br />Items at any time by a notice given in accordance with Scction 15 and, upon such revocation, Borrower shall
<br />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 the
<br />Funds at thc time specified under RESPA, and (b) not to exceed the maximum amount a knder can rt:quirt:
<br />under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable
<br />cstimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law.
<br />Tht: Funds shall be held in an institution whost: deposits are insured by a federal agency, instrumentality,
<br />or entity (including Lender, if Lender is an institution whose deposits 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 escrow
<br />account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable
<br />Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law
<br />requircs interest to be paid on thc Funds, Lender shall not be required to pay Borrowt:r any interest or earnings
<br />on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds.
<br />Lender shall givc to Borrower, without charge, an annual accounting ofthe Funds as required by RESPA.
<br />If there is a surplus of Funds held in cscrow, as defined under RESPA, Lender shall account to Borrower
<br />for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as dcfincd
<br />under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the
<br />amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly
<br />payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify
<br />Borrower as required by RESP A, and Borrower shall pay to Lender thc amount necessary to make up the
<br />deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all sums securcd by this Security Instrument, Lender shall promptly refund to
<br />Borrower any Funds held by Lt:ndt:r.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable
<br />to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on
<br />the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that tht:se
<br />itcms art: Escrow Items, Borrower shall pay them in the manner provided in Section 3.
<br />Borrower shall promptly dischargt: any lien which has priority over this Security Instrument unless
<br />Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to
<br />Lender, but only so long as Borrowcr is pcrforming such agrcemt:nt; (b) contests the lien in good faith by, or
<br />defends against cnforcement of the lien in, legal proceedings which in Lender's opinion operate to prt:vent the
<br />enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded;
<br />or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this
<br />Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain
<br />priority over this Sceurity Instrumt:nt, Lender may give Borrower a notice identifying tht: lien. Within 10 days
<br />of the datc on which that notice is given, Borrower shall satisfy the licn or take one or more ofthe actions set
<br />forth above in this Section 4.
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting
<br />service used by Lender in connection with this Loan.
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<br />_ -6A(NE) (0407)
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<br />CHL (08/05)
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<br />Form 3028 1/01
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