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<br />premiums, if any, or any sums payable by Borrawer to Lender in lieu of the payment of Mortgage
<br />Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow
<br />ltems." At origination or at any tune during the term of the Loan, Lender may require that Community
<br />Association Dues, Fees, and Assessments, if any, be escrawed 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. Borrower shall pay Lender the Funds 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 />ohligation to pay to Lender Funds for any or a11 Escrow Items at any time. Any such waiver may only be
<br />in writing. In the event of such waiver, Borrower sha11 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 requires,
<br />shall furnish to Lender receipts evidencing such payment within such tune 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 covenanC and agreement contained in this Security lnstrument, as the phrase "covenant and agreement"
<br />is used in Section 9. If Bonower is obligated to pay Escrow Iterns directly, pursuant to a waiv�r, and
<br />Borrpwer fails to pay the amount due for an Escrow Item, l.ender 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 any such
<br />amaunt. Lender may revoke the waiver as Co any or all Escraw Items at any time by a notice given in
<br />accordance with Section 15 and, upon such revocation, Borrower sha11 pay to Lender all Funds, 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 permit Lender to apply
<br />the Funds at the time speci�ed 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 and
<br />reasonable estimates of expenditures of future Escrow Items or otherwisa in accordance with Applicable
<br />Law.
<br />'�he Funds shall be held in an inatitution whose deposits are insnred by a federal agency,
<br />instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in
<br />any Fedaral Home Loan Bank. I..ender sha11 apply the Funds to pay the Escrow Items no later than the time
<br />specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually
<br />analyzing tlie escravv 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, L,ender shall not be required to pay Borrower
<br />any inter�st ar earnings on the Fuands. Bprrpwer and Lender can agrea in writing, however, that interest
<br />shall be paid on the Funds. Lender shall �ive to Borrower, without charge, an annual accounting af the
<br />�unds as rec�uired by RESFA.
<br />If there 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 R�SPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to
<br />Lender the amaunt necessary to make up the shortage in accordance with RESPA, but in no more than 12
<br />monthly payments. If there is a de�ciency of �'unds held in escrow, as defined under RESPA, Lender shall
<br />notify Borrower as required by RESPA, and Borrower sha11 pay to Lender the atnount necessary to make
<br />up the deficiency in accprdance 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 protn�ptly refund
<br />to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impasitions
<br />attributable to the Froperty 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 items are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
<br />230942
<br />NE8CtA5KA - Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMEN7
<br />�-6(NE�(oe��) Page5of15 initieis:� Form3D28 1101
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