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201007344
<br />premiums, if any, or any sums payable by Harrower to Lender in lieu of the payment of Mortgage
<br />Insurance premiums in accordance with the provisions of Section l0. 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, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to
<br />be paid under this Section. Harrower shall pay Lender the Fu>itds'for Escrow Items unless Lender waives
<br />Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's
<br />nbligatian to pay to Leander Funds for any or all Escrow Items at any titmte. 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 for which payment of Funds has been waived by Lender and, if Lender requuares,
<br />shall furnish 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 contained 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 Section 9
<br />and pay such amount and Borrower shall the be obligated under Section 9 to repay to Lender any such
<br />amount. Lender may revoloe 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 Fins, and in
<br />such amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to pearrmit Lender m apply
<br />the Funds at the time specified under RESPA, and (b) not to exceed the maximrnm amouru a lender eau
<br />n~uire under 17ESPA. Leander shall estimate the amount of Funds due on the basis of current data and
<br />reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable
<br />Law.
<br />the Funds shall be held in an institution whose deposits are insured by a federal agency,
<br />Vitality, or entity (including Lender, if Leader is an institution whose deposits are so insured) or in
<br />any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time
<br />specifieti under RESPA. Lender shall not charge Borrower far holding and applying the Funds, annually
<br />analyzing the 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 requites interest tv be paid on the Funds, Leader shall not be r~uired m pay Borrower
<br />any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to Borrower, without charge, an atwual accounting of the
<br />Funds as required by 12BSPA.
<br />If there is a surplus of funds held in escrow, as defined under RFSPA, 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 ItESPA, bender shall notify Borrower as required by RFSPA, and Borrower shall pay to
<br />Lender the amount necessary W make up the shortage in accordance with RESPA, but in no more than 12
<br />monthly payments. 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 aanaunt necessary m make
<br />up tbe deficiency in accordance with RESPA, but in na 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 an}- Funds held by Lander.
<br />~4. Charges; Lie~ai. 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, Fees, and Assessments, if any. To
<br />the extent that these iteans are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
<br />ASKA -Single Fatuity - Fanr~la Mas/Fireddie Mac UNIFORM INSTRUMENT
<br />-0(NEI roar ~ 1 t~pa s at 1 a ir:~ Fad $pag 1101
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