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<br />200801477
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<br />rremiums, if any, or any sums rayable by Borrower to Lender in lieu of the payment of Mortgage
<br />Insurance premiums in accordance with the rrovisions 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 Community
<br />Association Dues, fees, and Assessments, if any, be escrowed by Borrower, and such dues, tees 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 the Funds for Eserow Items unless Lender waives
<br />Borrower's obligation to pay the Funds tor any or all Escrow Items. Lender may waive Borrower's
<br />obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be
<br />in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts
<br />due tor any Escrow Items for which rayment of Funds has been waived by Lender and, if Lcnder requires,
<br />shall furnish to Lender receipts evidencing such rayment within such time period as Lender may requirc.
<br />Borrower's obligation to make such payments and to rrovide receipts shall for all purposes be deemed to
<br />be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement"
<br />is used in Section 9. If Borrower is obligated to ray Escrow Items directly, pursuant to a waiver, and
<br />Borrower fails to pay thc amount due tor an Escrow Itcm, Lender may exercise its rights undcr Section 9
<br />and pay such amount and Borrower shall then be oblig<Lted under Section 9 to reray to Lender any such
<br />amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in
<br />accordance with Section 1 S and, upon such revocation, Borrower shall pay to Lender all Funds, and in
<br />such amounts, that arc then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply
<br />the Funds at the time srecificd under RESPA, and (b) not to exceed the maximum amount a lender can
<br />require under RESPA. Lender shall estimate tht: amount of Funds due on the basis of current data and
<br />reasonable estimates of expenditures of future Escrow Items or othelwise in accordance with Applicable
<br />LLW.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency,
<br />instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in
<br />any Federal Horne Loan Bank, Lendcr shall arrly the Funds to pay the Escrow Items no later than the time
<br />specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually
<br />analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the
<br />Funds and Applicable Law permits Lendt:r to make such a charge. Unless an agreemt:nt is made in writing
<br />or Applicable Law requires intcrest to be paid on the Funds, Lender shall not be required to pay Borrower
<br />any interest or eamings on the funds. 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 RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to
<br />BOlTower fiJr the excess funds in accordance witb RESPA. If there is a shortage of Funds held in escrow,
<br />as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to
<br />Lender the amount necessury to make up the shortage in accordanet: with RESP A, but in no more than 12
<br />monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESP A, Lender shall
<br />notify Bon-ower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make
<br />up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of ,tll 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, assessments, charges, fines, and impositions
<br />attributable to the Property which can attain priority over this Security Instrument, leasehold payments or
<br />ground rents on the Property, if any, and C'ommunity Association Dues, Fees, and Assessments, if any. To
<br />the extent that these items arc Escrow Items, Borrower shall pay them in tht: manner provided in Section 3.
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<br />G-6(NE) (0407)
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<br />101111.1./3 'm P
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<br />0757208954
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<br />Page 5 of 15
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<br />Form 3028 1/01
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