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<br />200805531
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<br />premiums, if any, or any SWI1" payable by Borrower to Lender in lieu of the payment of Mortgage
<br />Inmnmce premiwm in accordance with the provi..ions 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 CommWIity
<br />Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall prompdy furnish to Lender ail notices of amounts to
<br />be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives
<br />Borrower's obligation to pay the Funds for any or ail Escrow Items. Lender may waive Borrower's
<br />obligation to pay to Lender Funds for any or ail Escrow Items at any time. Any such waiver may only be
<br />in writing. In the event of such waiver, Borrower shall pay direcdy, when and where payable, the amounts
<br />due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires,
<br />shall fumi..h to Lender receipts evidencing such payment within such time period as Lender may require.
<br />Borrower's obligation to make such payments and to provide 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 pay Escrow Items directly, pursuant to a waiver, and
<br />Borrower fails to pay the an10unt due f'or an F..scrow Item, Lender may exercise its rights under Section 9
<br />and pay such amoWIt and Borrower shall then be obligated under Section 9 to repay to Lender any such
<br />anloWIt. Lender may revoke the waiver as to any or all Escrow ItelllS at My time by II notice given in
<br />accordance with Section 15 and, upon such revocution, Bonuwer shall pay to Lender all }Unds, and in
<br />such llDlOWIts, that arc then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amoWIt (a) sufficient to permit Lender to apply
<br />the Funds at the time specified ualcr lUSPA, and (b) not to exceed the maxiDlWll amoWIt a lender can
<br />require under RE."lPA. Lender shall estimate the amount of Funds due on the basis of C\DT'ent data and
<br />reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable
<br />Law.
<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 Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time
<br />specified under RE.~PA. Lender shall not charge Borrower for holding and applying the }'lllld.., annually
<br />analyzing the escrow account., or verifying the Escrow Items, unless Lender pays Borrower interest on the
<br />Fund.. and Applicable Law permits Lender to make such a charge. Unless an agreement i.. made in writing
<br />or Applicable Law requires interest 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 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 RFSPA.
<br />If there i<; a surplll." of Funds held in escrow, as defined under RFBPA, Lender shall account to
<br />Borrower for the excess funds in acconlance with RFBPA.Jf there is a shortage of Funds held in escrow,
<br />as defined under RFSPA, Lender shall notify Borrower as required by RE,"PA, and Borrower shall pay to
<br />Lender the amOWIt necessary to make up the shortage in accordance with RFBPA, but in no more than 12
<br />monthly payments. If there i.. a deficiency of Funds held in escrow, as defincd under RFSPA, Lender shall
<br />notify Borrower as required by RFSPA, and Borrower shall pay to Lender the amoWIt necessary to make
<br />up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />lJpon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund
<br />to Borrower any }'WId.. held by Lender.
<br />4. Charges; Liens. BOlTOwcr shall pay ail taxes, assessments, charges, fines, and impo....itioDS
<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 CommWIity Association Dues, Fees, and Assessments, if any. To
<br />the extent that these items lire Escnlw Itcn~, BmTower shall plly dIem in the manner provided in Section 3.
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<br />002005398805
<br />~-6A(NE) (0407).01
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<br />"-50115
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<br />-.fIL
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<br />CiliMortgage 3.2.15.16 V3
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<br />Form 3028 1/01
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