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<br />200708757
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<br />Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the
<br />principal of and interest on the debt evidenced by the Note and any prepayment and late charges due llilder tlle
<br />Note.
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<br />Applicable Law. As used in this Security Instrument, the term "Applicable Law" shall mean all controlling
<br />applicable federal, state and local statutes, regulations, ordinances and administrative rules lmd orders (that have
<br />the effect oflaw) as well as all applicable final, non-appealable judicial opinions.
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<br />Funds for Taxes and Insurancc. At Lender's request and subject to Applicable Law, Borrower shall pay to
<br />Lender on the day periodic payments are due llilder the Note, until the Note is paid in full, a sum ("Funds") for: (a)
<br />yearly taxes and assessments which may attain priority over this Security Instrument as a lien on the Property; (b)
<br />yearly leasehold payments or ground rents on the Property, if <my; (c) yearly hazard or property insurance
<br />premiums; (d) yearly flood insurance premiums, if any; (e) yearly mortgage insurance premiums, if <my; <md (f)
<br /><my sums payable by Borrower to Lender, in accordance with the provisions of the paragraph titled Mortgage
<br />Insurance, in lieu of the payment of mortgage insurance premiums. These items are called "Escrow Items."
<br />Lender may, at any time, collect and hold Funds in <m amount not to exceed the maximum amount a lender for a -
<br />federally related mortgage loan may require for Borrower's escrow account under the federal Real Estate
<br />Settlement Procedures Act of 1974 as amended from time to time, 12 U.S.c. Section 2601 et seq. ("RESPA"),
<br />llilless <mother Applicable Law that applies to tile Funds sets a lesser amount. If so, Lender may, at any time,
<br />collect and hold Funds in an amount not to exceed the lesser amount. Lender may estimate the amOllilt of F1Ulds
<br />due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in
<br />accord<mce with Applicable Law.
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<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity
<br />(including Lender, if Lender is such an institution) or in any Federal Home Loan B<mk. Lender shall apply the
<br />Funds to pay the Escrow Items. Lender may not charge Borrower for holding and applying the Fllilds, annually
<br />analyzing the escrow account, or verifYing the Escrow Items, unless Lender pays Borrower interest on the Funds
<br />and Applicable Law permits Lender to make such a charge. However, Lender may require Borrower to pay a one-
<br />time charge for an independent real estate tax reporting service used by Lender in connection with this loan, llilless
<br />Applicable Law provides otherwise. Unless an agreement is made or Applicable Law requires interest to be paid,
<br />Lender shall not be required to pay Borrower any interest or earnings on tile Funds. Borrower and Lend(;,'f may
<br />agree in writing, however, tllat interest shall be paid on the Fllilds. Lender shall give to Borrower, without charge,
<br />an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each debit to
<br />the Funds was made. The Funds are pledged as additional security for all sums secured by this Security InstrunHut.
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<br />If the Funds held by Lender exeeed the amounts permitted to be held by Applicable Law, Lender shall account to
<br />Borrower for the excess Funds in accordance with the requirements of Applicable Law. Ifthe amount ofthe Funds
<br />held by Lender at any time is not sufIicient to pay the Escrow Items when due, Lender may so notify Borrower in
<br />writing, and, in such case Borrower shall pay to Lender the amount necessary to make up the deficiency. Borrower
<br />shall make up the deficiency in no more th<m twelve monthly payments, at Lender's sole discretion.
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<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Fllilds held by Lender. If, under the section titled Acceleration; Remedies, Lender shall acquire or sell the
<br />Property, Lender, prior to the acquisition or sale ofthe Property, shall apply any Funds held by Lender at the time
<br />of acquisition or sale as a credit against tlle SUlllS secured by the Security Instrunlent.
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<br />Application of Payments. Unless Applicable Law provides otherwise, all payments received by Lender shall be
<br />applied: first, to any prepayment charges due under the Note; second, to amounts payable under the section titled
<br />Funds for Taxes and Insurancc; tllird, to interest duc; fourth, to principal due; and last, to any late charges due
<br />under tlle Note.
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<br />Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Sa'Urity Instrument, and leasehold payments or ground rents, if any.
<br />Borrower shall pay tllese obligations in the manner provided in section titled Funds for Taxcs and Insurancc, or
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<br />@2oo4-2007 Copyright Compliance Sy>t<lTI'. hi<. ~C9C.5C35 . 2007.01.201
<br />Con8wncr Real Ellta.te. Security hllltr'U:m~nt DL2036
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<br />www,compliancosyste:ms.oom
<br />800-968-8>22 - r"" 616-9>6-1868
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