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<br />Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the
<br />principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the
<br />Nvte.
<br />Applicable Law. As used in this 5ccurity Instrument, the term "Applicable Law" shall mean all controlling
<br />applicable fcdcral, state and Ivcal statutes, regulations, ordinances and administrative rules and orders (that have
<br />the effect of law) as well as all applicable final, non-appealable judicial opinions.
<br />Funds Yor 'l'azes and Insurance. At Tender's request and subject tv Applicable Taw, T3nrrower shall pay to
<br />Lender on the day periodic payments are due under the Notc, until the Note is paid in full, a sum ("1~'unds") For: (a)
<br />yearly taxes and assessments which may attain priority over this Security Instrument as a lien on the Property; (b)
<br />yearly leasehold payments or ground rents on the Property, if any; (c) yearly hazard or property insurance
<br />premiums; (d) yearly flood insurance premiums, if any; (e) yearly mortgage insurance premiums, if any; and (f)
<br />any sums payable by Borrvwer to Lender, in accordance with the provisions of the paragraph titled Mortgage
<br />Insurance, in lieu of the payment of mortgage insurance premiums. These items are tailed "Escrow items."
<br />Lender may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a
<br />federally related mortgage loan may require for Borrower's escrow account under the fcdcral Rcal Estate
<br />5ettlcment Procedures Act of 1974 as amended from time tv time, 12 U.S.C. Section 2601 et seq. ("RESPA"),
<br />unless another Applicable T,aw that applies to the Funds sets a lesser amount. Tf so, Tender may, at any time,
<br />collect and hold Funds in an amount not to exceed the lesser amvunt. Tender may estimate the amount of Funds
<br />due vn the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in
<br />accordance with Applicable Taw.
<br />The Funds shall be held in an instiiuHon whose deposits are insured by a federal agency, instrumentality, or entity
<br />(including Lender, if Tender is such an institution) or in any Federal Home Tsoan Bank. Lender shall apply the
<br />Funds to pay the Escrow items. Tender may not charge Torrower for holding and applying the Funds, annually
<br />analyzing the escrow account, or verifying the Escrow ltcros, unless Lcndcr pays Borrower interest on the Funds
<br />and Applicable Law permits Lender to make such a charge. Ilowever, Lcndcr may require Borrower to pay a one-
<br />time charge for an independent real estate tax reporting service used by Lcndcr in connection with this loan, unless
<br />Applicable Law provides otherwise. Unless an agreement is made or Applicable Law requires interest to be paid,
<br />Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender may
<br />agree in writing, however, that interest shall be paid vn the Funds, Lender shall give to Borrower, without charge,
<br />an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each debit tv
<br />the Funds was made. The Funds are pledged as additional security for all sums secured by this Security instrument.
<br />If the Funds held by Lender exceed the amounts permitted to be held by Applicable Law, Lender shall account to
<br />Borrower for the excess Funds in accordance with the requirements of Applicable Law. If the amvunt of the Funds
<br />held by Lcndcr at any time is not sufficient tv pay the Escrow Items when due, Lender may so notify Borrower in
<br />writing, and, in such cast Borrower shall pay to Lcndcr the amount accessary to make up the deficiency. Borrower
<br />shall make up the deficiency in no more than twelve monthly payments, at Lender's soft discretion.
<br />Upon payment in full of`all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Funds held by Lender. Tf, under the section titled Acceleration; Remedies, Lender shall acquire or sell the
<br />Property, Lender, prior tv the acquisition or sale of the Property, shall apply any Funds held by Lender at the time
<br />of acquisition or sale as a credit against the sums secured by the Security Instrument.
<br />Application of Payments. Unless Applicable Law provides otherwise, all payments received by Lender shall be
<br />applied: first, to any prepayment charges due under the Note; second, to amounts payable under the section titled
<br />Funds for Taxes and Insurance; third, to interest due; fourth, to principal due; and last, to any late charges due
<br />under the Note.
<br />Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority veer this Security instrument, and leasehold payments or ground rents, if any.
<br />Borrvwer shall pay these obligations in the manner provided in section titled Funds for "I"axes and Insurance, or
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