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<br />201002490
<br />premiums, if any, or any sums payable by Borrower to Lender in Iiett of the payment of Mortgage
<br />Insurance premiums in accordance with the pr+gvisions of Section IQ. Theme items are called "Escrow
<br />Items." At origination or at any tithe during the tctxtt of the Loan, Lender may require that Community
<br />Association Dues., .Fees, and Assessments, i€ any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish w Lender all notices of amounts to
<br />be paid under this Section. ]3arrower shall pay Lender the Funds for Escrow Items unless Lender waives
<br />Borrower's obligation to pay the Funds for any or all F.scraw Items. Lender may waive Borrower's
<br />obligation to pay to Lender Funds for any or all Escrow Items at any tithe. Any 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 fox which payment of Funds has been waived by Lender and, if Lender requires,
<br />shall famish to Lender receipts evidencing such payment within such time period as Lender may require.
<br />Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to
<br />be a covenant and agreement centained in this Security Instrument, 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 an Escrow Item, Lender may exercise its rights under Secxion 9
<br />and pay such amount -arid Harrower shall then be obligated under Section 9 to repay to Lender any such
<br />amount. Lender may .revolts the :waiver as to any or all Escrow Items at any time by a notice given in
<br />accordance with Section l5 and, upon such revocation, Aorrower shall pay to Lender alI Funds, and in
<br />such amounts, that are then required under this Section 3.
<br />Lender may. at any tune, collect and hold Funds in an amount (a) sufficient to permit bender to apply
<br />the Funds at the tithe specified under RPSPA, and (b) not to exceed the maximum mount a lender can
<br />require under RESPA. Lender shall .estimate .thee amount of Funds due on the basis of current data and
<br />reasonable estimates of expenditures of future Escrow Items or otherwise in ac~ordancc with Applicable
<br />Law.
<br />The Funds shall be held in. an institution whose. deposits are insured by a federal agency,
<br />iitstrurncntality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in
<br />any Federal Homy Loan Banlr, Lender shall apply the Funds to pay the Escrow Items no later than the time
<br />specified under RF,SFA. Lender shall not t barge Borrower for holding and applying the Funds, annually
<br />analyzing the escrow account, or verifying Ehe Escrow Items, utxless Lender pays Borrower interest on the
<br />Funds and Applicable Law permits Leader to make such a charge. Unless an agreement is made in writing
<br />ar Applicable Law requires itttesest tp be paid :on the Funds, Lender shall not be required to pay Borrower
<br />any inte~st or earnings on the Funds. Barrows ate Lander can 'agree in writing, however, that interest
<br />shall be paid an the k~tnds~ Lender shall give to Borrower, without charge, an annual acsrounting of the
<br />Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESFA, Lender shall account to .
<br />l3orrawer for the exoess funds in aaeardanoe with RBSPA. If there is a shortage of Funds held in escrow,
<br />as defu~l under RI:SPA, Lender shall notify Harrower as requited by RESPA, anti Borrower shall pay to
<br />Lender the amount necessary tq make up the. shortage in accordance with RESPA, but in no snare than l2
<br />~~y Payments. If there is a deficiency of Funds held in escrow, as deftned under RESPA, Lender shall
<br />notify Borrower as required by R$SFA, and Borrower shall pay to Lender the amount necessary to make
<br />up the deficiency in accordance with RESPA, but in no more than l2 monthly payments.
<br />Upon payment in full of all sutras secured by this Security Instrument, Lender shall promptly refund
<br />to Harrower any Funds held by Lender.
<br />4. Charges; Itiens. Borrower shall pay all taxes, asseasrrtents, cliarges, 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, Fees, and Assessments, if any. To
<br />the extent that these itergs are Escrow Items, Bormower shall pay them in the manner provided in Section 3.
<br />(~ 8Q(NE) ~ooosi.ot Pace 6 al 1'8 Form 3028 7/01
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