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<br />Payments are deemed received by Lender when received at the location designated in the Note or at such other location
<br />as may be designated by Lender in accordance with the notice provisions in Section I5, Lender may return any payment or
<br />partial payment if the payment ar partial payments are insu~cicnt to bring the Loan current. Lender may accept any payment
<br />or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to
<br />refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such
<br />payments are accepted. if each Periodic Payment is applied as of its scheduled due data, then Lender need not pay interest on
<br />unapplied funds. Lender may hold such unapplied funds until Borrower makes payments to bring the Loan current. If
<br />Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. !f
<br />not applied earlier. such funds will be applied to the outstanding principal balance under the Nate immediately prior to
<br />foreclosure, No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from
<br />making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by
<br />this Security Instrument.
<br />2. Application of Payments or Proceeds, Except as otherwise described in this Section 2, all payments accepted and
<br />applied by Lender shall be applied in the following order of priority: (a) interest due under the Nate; (b) principal due under the
<br />Note; (c) amounts due under Section 3. Such payments shat) be applied to each Periodic Payment in the order in which it
<br />became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this
<br />Security Instrument, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay
<br />any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic
<br />Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Aeriodic Payments if:
<br />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
<br />full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments
<br />shall be applied first to any prepayment charges and then as described in the Note.
<br />Any application of payments, insurance proceeds, nr Miscellaneous Proceeds to principal due under the Note shall not
<br />extend or postpone the due date. or change the amount, of the Periodic Payments.
<br />3. Funds For Escrow Items, Borrower shall pay to Lender on the day Periodic Paymenu are due under the Note, until the
<br />Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items
<br />which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments ar
<br />ground rents an the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d)
<br />Mortgage Insurance 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.
<br />These items are called "Escrow Items." At origination ar at any time during the term of the Loan, Lender may require that
<br />Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly tlrrnish to Lender all notices of amounts to be paid under this
<br />Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds
<br />far any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any
<br />time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where
<br />payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender
<br />requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's
<br />obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement
<br />contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to
<br />pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may
<br />exercise its rights under Section 9 and pay such amount and Harrower shall then be Obligated under Section 9 to repay to
<br />Lender any such 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 such amounts, that are
<br />then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time
<br />specified under }ZESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate
<br />the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or
<br />otherwise in accordance with Applicable Larv,
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