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200905993 amounts due under this Security Instrument, and then to reduce the principal balance of the Note. Tf Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a suffrient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, nr Miscellaneous Proceeds to principal due under the 1V!ote shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds far 13scxow Itemns. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a} taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance nn the Property; (b} leasehold payments or ,ground rents an the Property, if arty; (c) premiums for any and all insurance required by Lender under Sechan 5; and (d} Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Seciipn 10. 'T'hese items are called "Escrow Items.'" At origination or at any time during the term of the Loan, Lender may require that Community Associa8an Dues, Fees and Assessments, if any, be escrowed by Borrower, and such dues, fees, and assessments shall be an Escrow ]tem. Borrower shall prampdy 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 time. Any such waiver may only be is writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the arnpunts due for any Escrow lteras for which payment of Funds has been waived by Lender and, ff Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall far all purposes be deemed to be a covenant and agreement con#ained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant #o a waiver, and Borrower fails to pay the amount due far an Escrow Item, Lender may exercise its ~ghts under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any 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 shalt pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, wllect and hold Funds in an amount (a} sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) net to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of NI~RA,~~,A.^5fngkFamily-FwiieM~dFr+dduMaatllaFOgMrt~rRrA~Fmm4~8 f/Dl GCC - C}3028-05 (04/Ql) (Aage S gf19) ~~: