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2Q1007404
<br />premiums, if any, or arry sums payable by Borrower to T..�nder in lieu of the payment of Mortgage
<br />Insurancc premiums in accordance with the provisians of S�tion 10. Thesc iteau�s are called "Escrow
<br />Items." At origination or at any ti,mc during the teim of thc Laan, I.ender may z�equi,re that Community
<br />Association Dues, Fees, and Assessnaents, if any, be es�rowed by Bornower, and such dues, fees and
<br />assessu�enCs shall be an Escrow Item. Barrower shall promptly fumish w L�ender all notices af amounts w
<br />be paid under this Se�tion. Honrower shall pay I.ender the Fwnds for Fscrow Items unle.ss Y.ender waives
<br />Raarrower's obligation to pay the Funds for any or all F�acrow Items. L,�nder may waivs Barrowe�r's
<br />obligation to pay to L,ender Funds for any or all Eacrow Items at any time. Any such waiver may only be
<br />in writing. In the event of such waiver, Borrawer sha11 pay directly, when and where payable, the amaunts
<br />dtte for any Escrow Items for which payment of Ftinds has been waived by Isnder and, if L.ender r�qttires,
<br />slaall furnish to T.ender receipts evidencing such payment within such tux�e period as I.ender may raquiire.
<br />Boarcower's obligarion to make snch payments and to provide receipts shall for all purposes be deemed to
<br />be a covenant and agr�t c;ontained in t�ia Security Inst�niment, as the phrase "covenant and agreeinent"
<br />is used iin Section 9. If Borrower is obligated to pay Escrow Iterns directly� pursuant Co a waivesr, and
<br />Barrower fails to pay the amount due for an Escmow Item, I.ender may exercise its rights undear Sectinn 9
<br />and pay such emount and Eorrowcr shall then be obligate� under Socxion 9 to repay to I,ender any such
<br />amount. L,end�r may rcvoke the waivcr as ta any or all Escrow Items at any time by a notice given in
<br />accordance with Section 15 and, upon such rcvocation, Bdrmwer s�all pay to I.ender all Fun,ds, and in
<br />such amounts. that are than required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to aPPYY
<br />Chc Fu�nds at the tun�e specifie� under RFSPA, and (b) nnt to eaceed t�e maximtun amount a lender can
<br />require under RFSPA, Lender shall estimate the auiount of Funds due on the basis �f current data and
<br />reasonable �tes of expenditures of futvre Escrnw Items or otherwise in accordance with Applicable
<br />Law.
<br />The Funda shall be held in an institurion whose deposits are insured by a federal ag�cy,
<br />instnunentality, or entity (including Lender, if J.�nder ia an inatitution whose deposits are so insured) or in
<br />any Federal Horc�e Loan Bank. I.ender shall apply the Frmds to pay the Escmw Ite�ns no later than the time
<br />specified under RESPA. I.ender shall not charg� Horrower for holding and applying the Funds, annually
<br />analyzing the escrow account, or verifying thc Fscrow Irems, unless Lender pays Borrower interest on the
<br />Fwads and Applicable Law permits I.cnder to make sutch a charge. UaNass an agreement is made in writing
<br />or Applicable Law requires interest to be paad on the Funds, I.ender shall not be raquir�d to pay Horrower
<br />any interest or earnin�s an the Funds. Borrower and L,endcr can agrce in writing, however, thaz interest
<br />shall be paid on the �nds. I.ender shall give w Borrower, without cd�arge, at� annual accounting of the
<br />Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrnw, as defined under RFs�SPA, Lender sha11 account to
<br />Barrower for the excess funds in accvt+dance with RESPA. If therc ia s shartage of Funds held in e�crow,
<br />as defined under ItESPA, I.ender shall notify Horrower as require� by RE,SPA, and Borrower sbiaal pay to
<br />Lcnde;r the amourn necessary to make up the shortage in acoordancs with RESPA, but in no more than 12
<br />monthly paymezxts. If there isi a deficiency of Funds hcld in escrow, as defined under RE5PA, Lender shall
<br />notify Borrower as requiu�ed by RESPA, and Eorrower shall pay to L.ender the amount ne�essazy to m�tke
<br />up the de�ciency in accordanc�e with RFSPA, but in no �rc than 12 monthly paymu�nts.
<br />Upon payment in full of all swa�s secured by tbis Sacurity In�trument, I.ender shatl promptly refund
<br />to Horrower any Fu�nds held by L.ender.
<br />4. Charge�; Liens. Borrovver shall pay gll taxos, ass�ts, charges, fines, and impc�sitions
<br />a�ttributable w the Property which can attaiaa priority over this Se�urity Insavment, le�aschold payments or
<br />ground rents on the Property, if any, a,n,d Comtnunity Association Dues, Fees, and Aas�nents, if any. To
<br />the extent that these it�ms are Escrow Items, Borrower st�all pay them in the manner provided in Section 3.
<br />N SKA - 8ingle Family - Fannt� Mae/Freddir Mac UNIFORM INS7RUMENT
<br />-B�NE► (08i t� �� ot t6 mma4: FOfRI 3078 7/07
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