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<br />200801439
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<br />premiums, if auy, or any stlm8 payable by Bonower to Lendcr in liE!\! of the pa:ym.ent of Mortgage
<br />Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow
<br />Items." At origination or at any time d11ring the term of the Loan, tender may reqUire that COD'ltllllnity
<br />Association Dues, Fees, and Assessmexns. if any, be escrowed by Borrower. and such dues, fees and
<br />assessments shall be an Ese;row Item. Borrower shall promptly furnish to Lend.eJ: all notices of amounts to
<br />be paid under this Section. Borrower shall pay Leuder the Funds for Escrow Items Ul),less Lender waives
<br />Borrower's obligation to pay the Funds for any or all Escrow items. Lender may waive Borrower's
<br />oblig:ition to pay to Lender FUnds for auy or llll Escrow Items at auy time. Any snell, waiver may only be
<br />in writing. In the event of Budl waiver, Borrower shall p~y di.n:cl'ly, when and where payable, the amounts
<br />dUe for 8J).y Escrow Items for which payment of Funds has been waived by Lend~ and, if Lender requires,
<br />shall furnish to Lender receiptS evidencing such payment within such time period all Lender may require.
<br />Borrower's obligation [0 make such payments aDd to provide receipts shall for all purposes be deemed to
<br />be a covenant aud agreement contained in this Security Instrument. as !be phrase "COvenant and agreement"
<br />is used in Section 9. If Borrower is Obligated to pay Escrow Items directly, purs~t to a waiver, and
<br />Borrower- fails to pay the amount due for an Escrow Item, Lender may exercise its rights undtl; Section 9
<br />and pay such wount and. Borrower shall then be Obligated under Section 9 to repty to Lender any st'lch
<br />amount. Lender may revoke the waivet as to any or all B$t:row Items at any time by a notice given in
<br />accordance with Stttion IS and, upon such revocation. Borrower shall pay to Lend.er all Funds. and in
<br />,such amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permi.t Lender to apply
<br />" the Funds at the tinre specified under RESliA. and (b) not to ~d the maximum amount a lender can
<br />require under RESPA. Lender shall estimate the amount of funds due on the basis of Clll'tent data and
<br />reasonable estimates of expenditures of future Escrow Items or otherwise in accordance w~th Applicable
<br />Law.
<br />The Funds shall be :b.eld ill an instimtion whose deposits are insured by a federal agency,
<br />instrntnentaliry. or entity (including Lender, if l..e:nder is an institution who.se deposits are 50 inSUred) or in
<br />any Federal Home Loan Bank. Lender shall apply the Funds to pay the Eicrow Items no later than the time
<br />specified under RESPA. Lender sball not charge Borrower for hol~ and applying the Funds, annually
<br />analyzing the escrow account, or veri:tying tlJ.e Escrow ltems, unless Lender pays Borrower interest on the
<br />Funds and Applicable Law pennits Lende.\ to make such a charge. Unless an agreement is road-e in writing
<br />or Applicable Law requires interest t<) 'be paid on the Funds, Lender shall not be required to pay Borrower
<br />auy interest or earnings On the Funds. Borrower and Lender ean agree in writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to Borrowa-, withom cba:rge, an ~\lal aCCOWlti:o.g of the
<br />Funds as required by RBSPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to
<br />Borrower for the excess funds irt accordance with RESPA. Xi there is a shortage of ~d5 held in eSCTow,
<br />as defined under llliSPA, Lender shall notity Borrower as required by RESPA, and Borrower sball pay to
<br />Lender the amount necessary to make up the shonage ~n accordance with RBSP A, but in no xnOre than 12
<br />monthly payments. If there is a deficieney of Funds held in escrow, as defined under RESPA, Lender shall
<br />notify Bonower as required by R.ESFA, and Borrower shall pay to Lender the amount necessary to make
<br />up me deficiency in accordance with RESPA, but in no DK>re than 12 monthly paYn1ents.
<br />Upon payment in full of all sm:os secured by this Security Instrument, lender shall promptly refund
<br />to Borrower any :Funds held by l.ender.
<br />4. Charges; Liens. Borrower shall pay all taxes. asSUSIIlents, charges, fmes, and impositions
<br />attributable to the Propeny whiCh can attain priority over this Security l:Q,stIUment, leasehold payments or
<br />ground rents on the Property, if any, and Community Association Du.es, Fees, and Assessments, if any. To
<br />the extent ~at these items are Escrow ItCImi, Borrower shall pay them in the :manner provided in Section 3.
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<br />~-8INE;1 (0005)
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<br />U,M. Initials' tfIj..I M
<br />Page 5 at'5 --"#"
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<br />Form 3028 1/01
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