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200805023 premiums. if any. or any sums payable by Borrower to tender In lieu of the payment of Mortgage Insurance premiums in accordance wHh the provisions of Section 10. These Hems are called "Escrow Items." At origination or at any lime during the term of the Loan, Lender may require that Community Association Dues. Fees. and Assessments, if any. be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or' all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any Urne. Any such waiver may only be In wrlling. In the event of such waiver. Borrower shall pay directly. when and where payable, the amounls due for any Escrow I1ems for which payment of Funds has been waived by Lender and, if Lender requires. shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such paymenls and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument. as the phrase "covenant and agreement" Is used In Secllon 9. If Borrower Is obllgated 10 pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount ilnd Borrower shall then be obligated under Section 9 to repay to Lender ilny such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any lime, collect and hold Funds in an amount (a) sufficJenlto permit Lender to apply the Funds at the lime specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates ot' expenditur,!!s of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an Institution whose deposits are insured by a federal agency. Inslrumenlality, or entHy (including Lender. If Lender Is an Inslilutlon whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shal! not charge Borrower for holding and applying the Funds. annually analyzing the escrow account, or veritylng the Escrow Items, unless Lender pays Borrower Interest on the Funds and Applicable Law permlls Lender to make such a charge. Unless an agreement Is made In writing or Applicable Law requires Interesl to be paid on the Funds. Lender shall not be required to pay Borrower any Interest or earnings on the Funds. Borrower and Lender can agree in wrItIng, however. that interest shall be paid on the Funds. Lender shall give 10 Borrower. without charge, an annual accounting of the Funds as required by RESPA. If there Is a surplus of Funds held In escrow. as defined under RESPA. Lender shall account to Borrower for the excess funds In accordance with RESPA. If there Is a shortage of Funds held in escrow. as defined under RESPA. Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shorlage in accordance with RESPA, but In no more than 12 monthly payments. If there Is a deficiency of Funds held In escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA. and Borrower shall pay to Lender the amount necessary to make up the deficiency In accordance with RESPA, but In no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments. charges. fines. and impositions aUributable to the Property which can attain priority over tills Security Instrument, leasehold payments or ground rents on the Property, If any. and Community Association Dues, Fees. and Assessments, If any. To the extent that these Items are Escrow Items, Borrower shall pay them In the manner provided In Section 3. 002005425058 ~-6A(NE) (0407).01 Pug. 5 .r 15 ~""~~ Form 3028 1/01 CltlMortgagc 3.2.15.13 va