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:~; ~-R~COR~3ED
<br />200906316 204801439
<br />premiums, if say, or any 5ttms payable by Borrower t0 Leader in tietx of the payncent of Mortgage
<br />Insurance prerrtiums ut atcordaape with the provisions of Section 1Q. These items are called "Escrow
<br />Iteans_" At griginatioa or at any titxae durirxg the team of fife Loan, Lender,~ay require that Eamtrtttnity
<br />Association Dues, Ft:eS, and AssessmEnts, if auy, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower Shall plOmptly furnish to Lender ~ nOticeS Of amounts LO
<br />be paid under this Section. Borro'cver shall pay Lgtder the Ftwds for Escrow Items unless Letxder waives
<br />Borrower's obligation to pay rlrC Funds for any or all Escrow Items. Lexuier may waive llatrower's
<br />obligation, tp pay to Lender Flxuds far amy or all Escrow Items ac auy tia~. Any such waiver may only be
<br />in writing. In the event of ouch waiver, Borrower shall pay directly, whey attd where payable, the amounts
<br />due for any Escrpvv Iterrts for which payer of Funds has been waved by Lender and, if Lender requires,
<br />shall fatuish to Lender receipts evidencing such payment within such time period as Lender may require.
<br />Borrower's obligation to rxtake such payments and to provide receipts shall far aU purposes be deemed to
<br />be a covenant artd agreement cotltained in this Security Instrument, as the phrase "tgvenagt and agreement"
<br />iS Used in Section 9. If Borrower i$ obligated td pay Escrow IrernS direatly, pursuant to a waiver, and
<br />,~,~, :~- ^ Borrower fails to pay the amouxtt due for as Escrow >'~n, Leader may ~Grgise its rights under Bettina. 9
<br />'~,;, °~ and pay such axnoutat a~ud Borrower shall then be obligated under Section 9 to repay to Le,xder any such
<br />fir. `~ .:~,~ anrAaunt. Lender may revoke the waiver as to any or all l3scrow hams at any time by a ztatice given in
<br />~;~ ,?, _ - , accordance with Sc~tion 15 and, upon such revocation, Bozrawer shall pay to Lender all Funds, and in
<br />,~, , ~ , - ';such atnaunts, that are then required ua~der this Section 3.
<br />~~~ `' `-` Lender ma at any time
<br />-, ,i :: y, , collept and hold Funds in an amou>Yt (a) sufficipat to perrnut Lender to apply
<br />~I~„ ~". the Funds at the time specified under RESFA, and (b) not w exceed the itimum amount a lender can
<br />~~~ ,``'` , f require under RESFA. Leader shall estimat~c the ,mount of Funds due on the basis of cttrreadii data and
<br />- - ~` ~f reasonable estizxtates of expenditures of future I:serow Items or otherwise in accordance with Applicable
<br />C,aw.
<br />- Tkte Funds shall be >,xedd in an inatitutiau whose deposits are iaasrxral by a federal agency,
<br />inslrurnentallLy, ar entity (uacluding Lender, if Leader is an in.#titutian whose deposits are sa insured) or in
<br />any l=ederal Hame Loan Bank. Lender shall apply the finds to pay the Escrow Items na later thou the tune
<br />specified uzxder RBSI?A. Lender Shall not charge Borrower far holding and applyiuag the ~utds, annually
<br />analyzing the escrow account, or verifying the Escrow hams, unless Lender pays Harrower interest on the
<br />Fti7nric attd Applicable Law pezmits Lender to make such a charge. TJnless an agreement is made in writi»,g
<br />or Applicable )~aw requires interest tQ be paid oa dle Funds, Letxder shall not be required to pay Borrower
<br />auy interest or earnings on the Funds. Harrower and Lender cant agree iat 'Writing, however, that iateFest
<br />shall be paid on the Funds. L.eq~der shaA give to $orrower, without charge, an anx4ual accauntir~ of the
<br />Funds as required by RESFA.
<br />If there is a surplus of Funds lxeld in escrow, as defined under RESFA, Leader Sba31 account to
<br />Borrower far the excess funds in aCCardattce with RESFA. If there is a slrortage of Funds held in escrow,
<br />as defined under I+vESPA, Lender shall notify Borrower as required by RESFA, and Borrower sixall pay to
<br />Lender the amount necessary to make up the shortage in accordance with RESFA, but in na mare than Z2
<br />monthly payments. If there is a deficie~tcy of Funds held in escrow, as defined under RES)?A, Lender aha]l
<br />notify Borrower as required by RIESPA, and Harrower shall pay to Lender the amount necessary to make
<br />- up the deficiency in accordance with RESFA, but in no more than 12 monthly payn~nts.
<br />Upon payment in fuII of alt s~ Secured 1~5' this Security ~#, Lender shall promptly refund
<br />m Barxvwer any Funda held by I_.emder.
<br />- 4. Chalrgea; Liens. Harrower shall pay all taxes, assFssments, charges, fYues, 2nd impositions
<br />attn'butable to the property which can attain priority over this Security Instrument, leaseltald payments or
<br />ground rents on tlZe Property, if airy, and Community A,ssoCiation Dues, Fees, and Assessments, if any. To
<br />the extent that these iterx~s arc Escrow Items, Harrower shall pay them in the manner provided in Section 3.
<br />~~-CIH~J (DQ051 P3GC 6 of 75 Farm 3028' 7/01
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