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200910138 <br />premiums, if any, or any sums payable; by Borrower to Under in lieu of the payment of Mortgage <br />Insurance premiums in accordance with the provisions of Section 1 q. These items are called "Escrow <br />Items." At origination or at any time during the term of the Loan, Lender may require that Community <br />Association Dues, Fccs, and Assessments, if any, be escrowed lry Borrower, and such dues, fees and <br />assessments shall be an Escrow ltern. Borrower shall promptly furnish to Lender all notices of amounts to <br />be paid under this Section, Borrower shall pay Lender the Funds for Escrow Items artless Lender waives <br />Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's <br />obligation to pay to Lender Funds for any or all Escrow liems at any lime. Arty such waiver may only be <br />in writing. In the Event of such waiver, Borrower shall pay directly, when and where payable, the amounts <br />due for any Escrow Items for which payment of Funds has been waived by Lender and, i f Lender raluires, <br />shall furnish to Lender receipts evidencing such payrnertt within such time period as I.,ender may raluire. <br />Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to <br />be a covenant surd agreement contained in this Security Instrutnertt, 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 amount due for art Escrow Item, Lender may exercise its rights under Section 9 <br />and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender arty such <br />amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in <br />accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in <br />snclr amounts, that are then required under this Section 3. <br />Lender Wray, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply <br />the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can <br />require under RESPA. Lender shall estimate the amount of funds due on the basis of current data. artd <br />reasonable estimates of expenditures of future Iscrow Items or otherwise in accordance with Applicable <br />Law. <br />The Funds shall be held in an institution whose deposits arc 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 1•Iorne Loan Sank. Lender shall apply the Funds to pay the l;scrow Items no later tlran the time <br />specified under RESPA. lender shall not charge Borrower for holding and applying the Funds, annually <br />analyzing tyre escrow account, or 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 required to pay Borrower <br />any interest or earnings on the 1' ands. Borrower and Lender can agree in writing, however, that interest <br />shall be paid on the I~ ands. Lender shall give to Borrower, without charge, an annual accounting of the <br />1"ands as required by RESPA. <br />If them is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to <br />Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, <br />as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to <br />Lender the amount necessary to make up tyre shortage in accordance with RESPA, but in no more than l2 <br />monthly payrnertts, if there 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 Security Instrument, Lender shall promptly refund <br />to Borrower any Funds held by Lender. <br />4. Charges; L,i~ns. Borrower shall pay all taxes, assessments, charges, fines, and impositions <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 Community Association Dues, lees, and Assessments, if any. "I~o <br />tyre extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. <br />0110299891 <br />Inltlals: <br />-6(NE) ~oao~~.o2 Pia 5 or , 5 Form 3Q28 1/01 <br />