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<br />200806925
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<br />premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
<br />'Insurance premiums in accordance with the provisions of Section 10. Thesc items are called "Escrow
<br />Items." At origination or ,at anytime 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, 'fees and
<br />assessments shall be an F..scrow Item. Borrower shall promptly furnish tei Lender all notices of amounts to'
<br />be 'paid under'this Sectiori. Borrower shall pay l.ender the Funds fOT Escrow Items unless Lender waives
<br />BorroWer's obligation to ,pay the Funds for any or all Escrow Items. Lender may waive Boi:rower's .
<br />obligation to pay to Lender flunds for iUiy 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 irrriounts
<br />due (or arty Escrow Items fOr which payment of Fund~ has been waived by Lender and, if Lender requires,
<br />shall furnish to Lender receipts evidencing sucb payment within. such time period as Lender may require.
<br />Borrower's obligatio'n to make sllChpayments and to provide receipts shall for,aU purposes be deemed to
<br />be 'asovemint'and agreement contained i~ this.Secllrityhistrumehl, as thephrasc."covermot and agree.nerit"
<br />is us, ed"in,, Section", 9:Jf, ~or,r,ow,,' e,I" is. obligated",t,O, pay ES,crowltemsdirectly, pursuant to' a waiver, a, n,d
<br />BorroWedails lopaythe ~mount due for an Escrow Item, LeIider may exercise its rights uilcter Section 9
<br />and pay such amount and, Borrower shall' then be opligated under Section 9 to repay to Lender any such
<br />amO\lllt. Lender may revoke the waiver as, to any or all Escrowlterns alany time bya notice giveil in
<br />accordance with Section, 15 and,.llpon such revocation, ,Borrower shall pay to Lender all Funds, and in
<br />such amounts, that are then required under this SectiollJ.. '
<br />Lender may, at any time, collect and hold Funds in an ainouht (a) sufficitmt to permit Lender to apply
<br />:the Funds at the time specified under RESt> A, and (b) notto exceed the maxithumamount a lender can
<br />require underRESPA. Lender shall estimate the amount of Funds dUe on the basis of cUrrent data and
<br />reasonable estimates of expenditlires of future Escrow Items or otherwise in accordance with Applicable
<br />Law.
<br />,The Funds snail be held In an institution whose depo~its are insured by a federal agency,
<br />instrumentality, or entity (including Lender, if Lender is an institution whosedeposits are so insured) at 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 RESPA. l..enjjer shall not charge Borrower for holding and applying the Funds, annually
<br />,analyzing the ~scrow account, 6r verifying the Escrow Items, unless Lender pays Borrower interest on the
<br />Funds and Applicable LaW, permits Lender to make such a charge. Unless an agreement is made in writing
<br />or Applicable Law requires interest to be paid on the Funds, Lender shall not ,be req:uired to pay Borrower
<br />any ~nterest Or earnings 011 the Funds. Borrower and Lender can agree in writing, however, that interest
<br />shall be paidl;>u the Funds. tender shall give to Borrower, without charge, an annual accounting of the
<br />Funds as required by RESP A,
<br />If there is a surplus: of Funds held in escrow. as detIned under RESP A. Lend,er shall account to
<br />Borrower for the excess n,mds in aCcordance with RESPA. If there is a shortage of f<'unds held in escrow,
<br />as defined under RESPA, LendershaIl notify Borrower as required byRESPA, and Borrower shall pay to
<br />Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12
<br />monthly paym,ents. If ther~ is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall
<br />notify Borrower 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 all sums, secured by this SeC\lrity 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 amiin priority over this Security Instrument. leasehold payments or
<br />ground rents on the Property. if any. and Community Association Dues, fees. and Assessments, if any. To
<br />the extent that: these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3;
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<br />0110283305
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<br />.-6INE) (04671.02
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<br />Form 3026 1/01
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