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<br />200800270
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<br />premiwns, if any, Or any sums payable by Borrower to Lender in liel,1 of me payment of Mortgage
<br />Insuta11ce premiums in accordance wi1:h the provisions of Section 10. These items are called "Escrow
<br />Items." At origination or at any time during the term of the Loan, lender may require that Comm\lDiry
<br />Association Dues, Fees, and Assessments, if any, be e5CIowed by Borrower, and SU,ch dues, fees and
<br />assessments shall be an Escrow Item. BOrrower shall promptly furnish to lender all notices of mnounts 10
<br />be paid under this Section. Borrower shall pay Lender the Funds for Escrow ltems unless Lender waive$
<br />Borrower's obUgatio;o, to pay the Punas fo-,; ;m,y Or all Escrow IteIIlll. Lender :may waive Borrower's
<br />obligation IO pay to Lender Funds for any or all Escrow Items at any time. A:fJy such waiver may only be
<br />in writing. In the e'lent of such waiver, Borrower shall pay directly, whee. and where payable, the amounts
<br />. due for any Escrow I;ems for which payment of F\lD,(ls h~ been waived by Lender and, if Lender requires, '
<br />shall fumish to Lender receipts evjdencing such payment within such time period as Lender rTJAY require.
<br />Borrower's obligation to make such payments and to provide receipts shall for $ll purposes be deemed to
<br />be a covenant and agreem(!.Ut contained in this Security Instrwnent, as the phrase "covenant and agreement"
<br />is used in Section 9. If BorrowE::J: is obligated to pay Escrow ItemS directly, PUI5\lallt to a waiver, and
<br />Borrower f~$ to pay the amount d\l.e for an Escrow Item, Lender '1J}J.'j e:tetcise its rights under Section 9
<br />and pay S\lch amotmt and Borrower shall then tie obligated under Section 9 to repay to Lender any such
<br />mnount. Lender may revoke the waiver as to any Or all Escrow Items at any time by a notice given in.
<br />accordance with Section IS and, upon such revocation, Borrower shall pay to Lender all :Funds, and 'in
<br />snc,b amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect and bold funds in an amount (a) sufficient to permit Lender to apply
<br />the Funds at the ~ specified under RESPA, and (b) not 10 exceed the maximum amount a lender can
<br />;require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and
<br />reasonable estimates of expenditllle.s of future Escrow Items or otherwise in accordance with Applicable
<br />Law.
<br />The Puruls sball tie held in an instit\ltion whose deposits are insured by 3. federal agency ,
<br />instrumentality, or entity (including Lender, if Lender is an instimtion whose deposits are so iD.sw:ed)-oJ: i.J1
<br />any Federal Home Loan ;Bank. Lender shall apply the Funds to pay the Bscrow Items no later than; the time
<br />specified under RESP A. Lender shall not char,ge Borrower for holdi.J1g and applying the Funds, auxl1.ally
<br />analyzing the escrow account, Or verifying the Escrow Items, unless Le;Qde;r pays Borrower interest on the
<br />FuncJs and Applicable Law pennihi Lencler to make such a charge. Unless an agreement is made in writing
<br />or Applicable Law requires interest to be paid on the Funds, Len(iet $h.all not be required to pay BonOwtt
<br />mt:y interest or earnings on the Foods. Borrower and Lender can agree in writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the
<br />Funds as required by :RESP A.
<br />If there is i s\lxpl\1$ of Funds held in escrow, as defIned under RESP A, Lender shall account to
<br />:Borrower for the excess funds in. accordance wi111 RESPA. If there is a shonage of Funds held in escrow~.
<br />as defined under RBSPA, Lender shall notify lJorrower as required by RESPA, ~(l lJorroWet shall.pay to
<br />Lender the amOl,1/J,t jJtte,ssary to make up the shortage in accordance with RESP A, but in no mort than 12'
<br />monthly payments. If there is .a deficiency of Funds held in eSCroW, as defined under RESP A, Lender shall
<br />notify Borrower as required by RESPA, tu1d Borrower shall pay to Lend.er the amounI necessary to make
<br />up the o.eficiex:\cy m. accordance with RESPA, but in 110 more than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund
<br />to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessm.l!1),t$, charges, fines, and impo$JtiOns
<br />attributable to the Propeny which can .attain prioriIY over this Security Instrument, leasehold payments or'
<br />ground rents OD- the Property, if any, and C01l:Un\l.nity A$$ociadol1 Dues, Fees, and Assess-menrs, if any. To
<br />the extent that these iIe:ms are Escrow Items, Borrower $all pay them in me maIlIler provided in Section 3.
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<br />[41-
<br />Initials: /' ,
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<br />.. -SINE) f00(6)
<br />iiI
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<br />Pille 5 0115
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<br />Form 3028 1/01
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