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<br />'20071014 q
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<br />premiums. if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
<br />Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow
<br />lte.cns." At origination or at any time during the term of me Loan, Lender may require that Co;rot,O,UJ).ity
<br />Association Ones, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall proxnptly furnish to Lender all nc>tices of amounts to
<br />be paid under this Section. Borrower shall pay Lender rhe Funds for Escrow ltems unless Lender waives
<br />Borrower's obligatio;!;), to pay the Funds for any Or all Escrow Items. Lender may waive Borrower's
<br />obl~garion to pay to Lender Funds for any or all Escrow Items at any tllne. Any such waiver may oDly be
<br />in WTiting. In the event of such waiver, Borrower shall pay directly, when and where payable. the amoUIlts
<br />due for any Escrow lter.os frJr which payment of Funds has been waived by Lender ami, if Lender requires.
<br />shall furnish IO Lender receipts evidencing such payment within $l1ch time period as Lendl;!f may require.
<br />Borrower'~ obligation to make sucb pa.yments and to provide receipts shall for all purposes be o.eemed to
<br />be a (:(tvenartt an.a agreement contained in this Security InstrUment, as the phrase "covenant and agreem.ent"
<br />is \1sed in Section 9. If Borrower is Obligated to pay Escrow Items directly, pursuant to a waiver, aud
<br />Borrower falls to pay the amoWlt d.ue for an Escrow I!cm, Lender may exercj$e its rights under Section 9
<br />and pay such amount and. Borrower shall then be obligated. under Section 9 to repay to Lender MY such
<br />,ll,u.cm.rtt. Lender may revoke me waiver as lO any or all Escrow ItemS at any time by a notice given in
<br />accordance with Section 15 and, upon such revocation, Bon-ower shall pay to Lende:J,' all Funds, and in
<br />such amounts, that 3te then required under this Section 3_
<br />Lender may, at any time, collect and hold Funds in an amount (a} sufficient to permit l..ender to ilpply
<br />the Funds at the time specified under RESPA, aDd (1)) not to e~ceed the maximwn amount a lender Can
<br />require under RESP A. Lender shall esrima.re the amount of Funds due On the basis of current data and
<br />reasonable estim:a.tl!:$ of expenditures of future Escrow Items or otherwise in acCOrdance wiIh Applicable
<br />Law.
<br />The FWlds shall be b~ld in an institution whose depOSits ate insured by a federal agency,
<br />instn.une:utality, or endty (including LeX1.der, if Lender is an institution whose deposits ate so insured) or in
<br />any Federal Home Loan Bank. Lender shall apply tb,e fund$ to pay the Escrow Items nO later tban the time
<br />specified under RESPA. Le;ud<< shall not charge Borrower fOr holding and applying the Funds, annually
<br />analyzing the escrow account, or verifying the Escrow hems, unless Lender pays Bonower interest on the
<br />Funds and Applicable Law permits Lender to make ;;w;:)::I, a charge. Unless an agreement is ~p.ade ill writirtg
<br />or Applicable Law requires iute:J,'esr 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 i:o. writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to Borrower, wirhout charge, au aonnal accounting of the
<br />Funds as required l;Jy RESP A.
<br />If there is a surplus of Funds held in esCrOW, ilS defined under RESPA, Lender shall !lCcount to
<br />Borrower for the excess fimdS in accordance with RESP A, If there is a shortage of FWlds held in escrow,
<br />as defined under RESP A, Lende;r: snall notify Borrower as required by RESP A. and Borrower shall pay to
<br />Lender the amOunt necessary to make up the sbortage in accordance with RESPA, but in no more than 12
<br />m.onthly paymems. If there is B. deficiency of Funds held in escrow, as defined under RESP A, :Lender shall
<br />notify Borrower as required by RESt' A, and Borrower shall pay to Lender the amoWlt necessary to make
<br />up me deficiency in aecordance with RESPA, but in no rt'lore than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security Instmmenr, Lender shall promptly refund
<br />to Borrower any Funds held by Lender_
<br />4. Charges; Lims. Borrower Shall pay all taxes. assessments, charges, tines, and impositions
<br />attributable to the Property which can attain priority over this Security Instrument, leasehold payments Or
<br />ground rents on the Propeny, if any, and Community Association Dues, Fees, and Assessments, if any. To
<br />the exrent mat these items Me Escrow Items, Borrower sball pay them in the manner provided in Section 3.
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<br />G -6(NE) (OOO~)
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<br />Form 3028 1 to')
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