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<br />200709078
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<br />premiums, if any, or any SlUns payable by Borrower to Lender in lieu of the payment of Mortgage
<br />Insurance premilUns in accordance with Ule provisions of Section 10. These items are called "Escrow
<br />Items." At origination or at any time during Ule term of Ule Loan, Lender may require Ulat Community
<br />Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to
<br />be paid under this Section. Borrower shall pay Lender tile Funds for Escrow Items lUlless Lender waives
<br />Borrower's obligation to pay the FlUIds for any or all Escrow Items Lender may waive Borrower's
<br />Obligation to pay to Lender FlUIds for any or all Escrow Hems at ,my time. Any such waiver may only be
<br />in ,witing. In the event of such waiver, Borrower shall pay directly, when and where payable, the atnOlUlts
<br />due for any Escrow Hems for which payment of FlUIds has been waived by Lender and, if Lender requires,
<br />shall furnish to Lender receipts evidencing such payment witlli.n such timc period as Lender may require_
<br />Borrower's obligation to make such payments cU1d to provide receipts shall for all purposes be deemed to
<br />be a covenant and agreement contained in tllis Security InSlrlUnent, as the phrase "covenatlt atId agreement"
<br />is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, mId
<br />Borrower fails to pay tile mnount due for an Escrow Item, Lender may exercisc its rights lUIder Section 9
<br />and pay such anlOlUlt and Borrower shall then be obligated lUIder Section 9 to repay to Lender any such
<br />mnount. Lender may revoke the waiver as to atl)' or all Escrow Items at atIy time by a notice given in
<br />accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, mId in
<br />such atnounts, that are then required lUIder this Section 3.
<br />Lender may, at any time, collect mId hold Funds in ml mnOWlt (a) sufficient to permit Lender to apply
<br />the Funds at tile time specified under RESPA, and (b) not to exceed tile maximum mnount a lender can
<br />require WIder RESP A. Lender shall estimate the cunowlt of FWlds dne on the basis of current data and
<br />reasonable estimates of expenditures of future Escrow Items or otherwise in accordance witll Applicable
<br />Law.
<br />The FWIds shall be held in an institution whose deposits are insured by a federal agency,
<br />mstrwllemality, or entity (including Lender, if Lender is CUl institution whose deposits are so insW"ed) or in
<br />any Federal Home Loan BatIk Lender shall apply Ule Funds to pay the Escrow Items no later Ulml tlte time
<br />specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, mUlually
<br />mlalyzing the escrow accolUlt, or verif}' i.llg tile Escrow Items, wlless Lender pays Borrower interest on Ule
<br />Funds and Applicable Law permits Lender to make such a chm'ge. Unless an agreement is made in writing
<br />or Applicable Law requires interest to be paid on the FU.llds, Lender shall not be required to pay Borrower
<br />any interest or earnings on the FIUlds. Borrower ,md Lender C,Ul agree in writing, however, that interest
<br />. shall be paid on the FlUIds. Lender shall give to Borrower, WitllOUt charge, ml tumual accowlting of Ule
<br />Funds as required by RESPA.
<br />If tllere is a surplus of Funds held in escrow, as defined WIder RESP A, Lender shall accolUlt to
<br />Borrower for Ule excess funds i.ll accordance with RESPA. If there is a shortage of FWlds held in escrow,
<br />as defined WIder RESP A, Lender shall notify Borrower as required by RESP A. mId Borrower shall pay to
<br />Lender the muount necessary to make up the shortage in accordance with RESPA, but in no more Ulan 12
<br />monUlly payments. If there is a deficiency of FWlds held in escrow, as defined under RESP A, Lender shall
<br />notify Borrower as required by RESP A, and Borrower shall pay to Lender tile atllOunt necessary to make
<br />up Ule deficiency in accordance with RESPA, but in no more tllatl 12 montllly payments.
<br />Upon payment in full of all swns secured by this Security Instfwnent, Lender shall promptly ref wId
<br />to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, mId impositions
<br />attributable to the Property which can attain priority over tllis Security Instrwuent, leasehold payments or
<br />ground rents on the Property, if any, culd Community Association Dues, Fees, mId Assessments, if atlY. To
<br />the extent that tllese items arc Escrow Items, Borrower shall pay them in the mlliUler provided in Section 3.
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<br />8800278337
<br />
<br />f'e
<br />EeL
<br />
<br />8800278337
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<br />Initials:
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<br />~.6A(NE:)<0407)Ol
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<br />Pag' 5 or 1 5
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<br />Form 3028 1/01
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