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<br />200707602
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<br />paYl1l0nt if tIlt': payment or partial payments are insllfticient to bring the Loan cllrrent. Lend0r may accept any payment or partial
<br />payment insufticient to bring the Loan current, without waiver of any rights herl':nnder or prejudice to its rights to r<:fus0 sucb
<br />payment or pm-tial payments in the future, but Lender is not obligated to apply such payments atth0 time such payulents arc
<br />accepted, If each Periodic P,iyment is applied as of its scheduled dU0 date, then Lender ueed not pay in10rest on unapplied flUIds,
<br />Lender may hold sucll unapplied funds until Borrower makes payment to hring the Loan curr0nt. If Borrower doc:s 1101 do so
<br />within a reasonable period of time, Lender shall either apply such fllIHls or retum them to Borrower. If not applied 0;lrlier, sllcb
<br />funds will be applied to the outstanding principal balance nnder the Note immediately prior to f<)reclosnre. No offset or claim
<br />which Borrower ,night have now or in the future against Lender shall relieve Borrower from making paymenls due nllller fhl':
<br />Note and this Security InstnlInent or performing the covenants aud agreements secured hy this Security IustnLlu0uL
<br />2. Applkation of Payments or Proceeds. Except ,is otherwise described in this Section 2, all payments accepted and
<br />applied by Lender shall be applied in the following order of priority: (a) interest dne nnder the Note; (b) principal due under the
<br />Nole; (c) ,unOlults dne under Section 3, Such payments shall be applied to each Periodic Payment in the order in which it
<br />bccame due, Any r0J\laining amounts shall be applied first to late charges, second to any oth0r anlonnts clue under Ihis Sc<:urity
<br />InslrIlm0ut, and tben to reduce the plincipal balance of the Note.
<br />If L.:nder r,~c0ives a payment from Borrowt;r for a delinquent Periodic Paymenl which iuclndes a snfficient amount to pay
<br />any late chargc dUe, tbe paymenl may be applied to the delinquent payment and Ih0 late charge, If morc than on0 Periodic
<br />Paylll0ut is outstanding:, Lender may apply any payment rec0ived from Borrower to the repaym0nt of Ilt0 Periodic PaYlllents if,
<br />:md to the extent that, 0ach payment can be paid in full. To the extent that any excess exisls alkr tlte paynlent is applicd to lhc
<br />full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepaYlnents
<br />slt:dl be applied first to any prepayment charges and then as described in the Note,
<br />Any ,qlplication of payments, insnrance proceeds, or Miscellaneons Proce0ds 10 prillcipal due under the Note sh:dl not
<br />ex tend or post pon0 lhe due date, or changt; the a.lllonnt, of the Periodi<: Payments,
<br />3. Fund,: for Escrow Items. Borrower shall pay to Lender on the day Periodic Paynlents are due under the Nole, IlIlt iI
<br />lhe Note is paid in full, a sum (the "Funds") to provide for payment of amounts duc for: (a) taxes and assessments and other
<br />items which can Hnain priority over this Security Instrllment a~ a lien or eneumbran<:e on 1 he Property; (b) leasehold paymenls
<br />or grouud rents on the Property, if any; (c) premiullls for any and all insurance required by Ll':nder nnder Section 5; aud
<br />(d) M0l1gage Iusurance premiums, if any, or any SlllllS payable by Borrower to Lender in lieu of the payment of Mortga;':0
<br />Insllrance prcnliums in a<:cordanee with the provisions of Section 10, These items are called "Escrow Hems," At origination or
<br />at any time during the term of thc Loan, Lender lllay require that Community Association Dnes, Fees, and Assessments, if any,
<br />be 0scrowed hy Borrower, and snch dues, fees and assessments shall Iw an Escrow Item, Borrower shall promptly fumish to
<br />L\;nder all IIOtiCl:S of amounts to he paid under this Section, Borrower shall pay Lender the 1,'unds for Escrow Items nnlcss
<br />Lender wai ves Horrower's obliF-,lt ion to pay the Fnnds for any or all Escrow It0lns_ I ,ender may waive Borrower's obli;.:nt ion to
<br />pay to Lemkr Funds for any or all Escrow Items at any time, Any such waiver may only be in writing, In th0 event of sllch
<br />waiver, Borrower shall pay directly, when and where payable, the amonnts dne for any Escrow Items for whidl paynlell1 of
<br />Funds has bC0n waived by l,ender and, if Lender reqnires, shall furnish to L0nder rt;ceipts evidencing such payment within
<br />such lime period as Lender m<IY r0qllir0, Borrower's obligation to make such paynl011ts and to provide receipts shall for all
<br />pllI'pOSCS bc de\;nled to he a covenant and agrct:~ment contained in this Securily Inslnllllenl, as the phrase "ulV\:n<lnt :IIHI
<br />:igr0cmenl" is nsed in Section 9, ]T Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, ami Borrower
<br />I-ails to pav th..: alnollnt dlle for an Escrow It0m, Lender may exercise its rights umkr S0ction 9 and pay sneh amount and
<br />Borrower shall then be obligated umkr Section 9 to repay to Lender any such amolllll. Lender may revoke the waiver as 10 nny
<br />or all Escrow hems at any lime by a notice given in accordance with Section 15 and, upon such r0vocation, Borrower shall pay
<br />to Lender all Funds, and ill sneh 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 10 apply the Funds at the
<br />lime sp0cified under RESPA, and (h) not to exceed the maximum amount a lender can require under RESPA. Lender shall
<br />eslilnat0 Ih0 alnount of Funds dU0 on the basis of current data ,llld reasonable estimates of expenditures of flllnre Escrow [tellls
<br />or oth0rwise in accordance with Applicable Law,
<br />Tile FUllds sltall be held in an institution whose deposits ar0 insured by a federal agency, instrIllnentality, or entity
<br />(illcludillg Lender, if Lellder is an institution whose deposits arc so insllred) or ill any Federal Home 1,0,11I Balik, Lender sltall
<br />apply Ihe Funds 10 pay the Escrow Items no later than the time specified under RESPA, Lender sl11lllnot clt,lrge Borrowcr for
<br />holdillg ,md applying the Funds, annnally analyzing the escrow ;KCOUllt, or verifying the Escrow Items, unless Lender pays
<br />BorrOW0r inlerest on the Funds and Applicable Law permits Lender to make such a charge. Unless ,ill ,lgreement is made ill
<br />writing ur Applicable Law requires interest to be paid on the fUllds, Lender shall not be rcquired to pay l3onow0r :Iny illlcr0st
<br />or eamings on tlte FUllds, 130rrower and Lender can agree in writing, Itowl':ver, lltat interest shall be paid on Ih0 Fllnds_ l,ender
<br />slwll give to Borrower, withont <:ltarge, an aunual accounting of the Fnnds as r0quired by RESPA.
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<br />ITEMI2098lA (0308)--MERS
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<br />(P,_'.~e 4 orl2 !'ages)
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<br />Form 302H l!O t
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<br />em,ATI AN Il .
<br />Tu Oruel Call: 1-800-530-9393 0 fax, 616-/g1-1i:ll
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<br />:'>:EllHM,KA-Sill"k 1'.L1i1il)--hnlllie Nbc/lire,ldie Mac UNIFORM INSTR1I1VIENT
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