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<br />200708697
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<br />premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
<br />lnsuJ:ance premiums in 8CCOrdanco with the provisions of Section 10. These items are called .Escrow
<br />Items." At origination or at any time duri:og the term of the Loan, Lender may require that Comnmnity
<br />Association Dues, Fees, and Assessments, if my, be escrowed by BODOwer, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly fumisb. to Leoder all notices of amounts to
<br />be paid UDder this Section. BODOWer shall pay Lender the Fonds for Escrow Items unless Lender waives
<br />Borrower's obligation to pay the Funds for any or all &crow Items. Lender may 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 sball pay ditectly, 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 />be a COVltDllDt and agroement contained in this Security Instnunent, as the phntse "covenant and agreement"
<br />is used in Section 9. If Bonower is obligated to pay Escrow Items directly, pursuant to 8 waiver, and
<br />Borrower fails to pay the amount duo for an Escrow Item, Lender may exercise its 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 the 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 all Funds, and in
<br />such amounts, that are then required UDder this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (8) sufficient to permit Lender to apply
<br />the Funds at the time specified under RESPA, and (b) DOt to exceed the maximum amount a leDder can
<br />require under RESP A. Lender shall estimate the amount of Funds doe on the basis of cnnent data and
<br />reasonable estimates of expenditotes of future Escrow Items or otherwiso in accordance with Applicable
<br />Law.
<br />The Funds shall be hold in an institution whose deposits are iDsured by a federal agency ,
<br />instrumentality, or entity (including Lender. if Lender is an institution whose deposits are so insured) or in
<br />any Federal Home Loan BlUlk. Lender shall apply the Funds to pay the Escrow Irems no later than the time
<br />specified under RESPA. Lender sball not charge Borrower for holding and applying the Fonds, 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 the Funds. Borrower and Lender can agree in writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to BoDOwer, without charge. an annual accounting of the
<br />Funds as required by RESP A.
<br />If there is a surplus of Funds held in escrow, as defined under ~ A, Lender shall account to
<br />Borrower for the excess funds in accordance with RESP A. If there is a shortage of Funds held in escrow,
<br />as defined under RESP A, Lender shall notify Borrower as required by RESPA. and Bonower shall pay to
<br />Lender the amount oeccssm:y to make up the libortage in accordance with RESP A, but in no more than 12
<br />monthly payments. If there is a deficieooy of Funds held in escrow, as defined under RESPA, Lender shall
<br />notify Borrower 88 required by RESP A. and Borrower shall pay to Lender the amount necessary to make
<br />up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all sums secuxed by this Security Instnnnent, Lender shall promptly refund
<br />to Bon:ower any Funds held by Lender.
<br />4. Charges; Lieus. Borrower shall pay all taxes, RSOHllJl1mh:, charges, fines, and impositiOllS
<br />attributable to the Property which can attain priority over this Security Instrument, leasehold payments or
<br />ground. rents on the Property, if any, and Cn-rnnnmity Association Dues, Fees, and AsscaSJDCD.ts, if any. To
<br />the extent that these items are Escrow Items, Borrower shall pay them in th[?ProVided in Section 3.
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<br />~ -GeNE) 1000&1 P.... & of 1& Form 3028 1/01
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