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1 11:11�
<br />The Funds shall be held irx an institution whose deposits are insured .by a fedsral agency, instrumBntality, or eTatity
<br />(including T ender, if Lender is a� �institution �hose .depasits ar� so insuredj .or in ar�y Fedaral Home Loan Bank. I.,ender s�iali
<br />apply the �'unds to pay the Lscrow items no later than the tinne specifi�r,i under RESPA. L,ender shall not charge Borrower for
<br />holding and applying the Funds, annwally analyzing the escrow accoun� or verifying the Escrow Items, unless �,ender pays
<br />Borrovvar inter.�st on the Funds arad .A,pp]'ica�le Law pern�t.its L,ender tu malce such a charge. Unless an agrsement is made in
<br />writiuig or Applicable I,aw requires interest to be paid on'the Func�s, T,ender shatl not be required to.pay Bqrrower at�y interest
<br />or earnings on the Funds. Borrower and I.ender carc agree in writing, horx that interest shall be paid on the Funds. �,ender
<br />sha�! give :to Borrower, without charge, an annual ac�aunting nf 1�e Funds as xequ�red `by RES;PA.�.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, �,entier sha11 account to Borrower for the excess
<br />funds in accordance with AESPA. If lhere is a shortage of Funds held in escrow, as .de#"zned under RESPA, Lender sha11
<br />notify Borrower as r�quired :by 1�ESP�, and Sonrower s1�a11 Pa� ..to Lender xhe .arnount ne�essary to .rnake .up th� shortags in
<br />accordance wit�► RESPA, but in no inore than 12 monthly pa�►nents. If there is a deficier►cy of Funds heid in escrow, as defined
<br />under RESPA, Lender shall notify Borrower as requirsd by RESpA, and Borrower shail pay to Lender tl�e amount necessary to
<br />ra�ake �up the deficiency in sc�rda�oe with RES]'A, b�t ir� no xnore ihan 12 mc�at�l� pa�nents.
<br />Upor� payment in full of all s�ms secured by this �ecucity Inslr�ment, Z.ender shall prompily refund to Borrower .any
<br />Funds held by Lender.
<br />4• Charges; Lisns. Borrower .shali pay a�.l ta7ces, assessments, :charges, fines, -and irnpositions atprib.utable ta the
<br />Property which.can at�ain priarity over,this S:cc�rity:instrum.ent, ieasehald:p.aymenks or gra.und:r.e�ts on the I'TOperty, if:an,y, and
<br />Community Association Dues, �ees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall
<br />pay them in tt►e m�u�er providrd in Sectio�.3.
<br />Borcower shall promptly disc�arge any lien which l�as priority over this Secwrity Tnstrument wiless Barrower: (a) agrees
<br />in writing to the payment of th� obligation secured by the lien in a nnanner acceptable to Lender, bttt only so long as Borrower
<br />is :performing such ,agree�ent; (b) .cankests t'he lien in �oud fa�ith by, or ;defends against enforeement of the lien in, legal
<br />proeeedings w�tich in Lender's opinion operate to prevent t�he ec►forcement of the 1'ien wh►ie those proeeedit�gs are pending,
<br />but only until such proceedings are concluded; or (c) secures from the holder af the lien an agrecrrient satisfactory rp I,ender
<br />subordlnating the lien to t�is �eeurity Janstruz�en� If Lender ,dete�tr�ines th�# a� part of the Property is subject to s lien v�bich
<br />can attain priority over this Security Instrument, Lender may gi�e Borrower a notic� identifying the lien. Within 1Q days of
<br />the date on which that notice is given, 8orrower shall satisfy the lien or talce one or mqre of the actions set forth above in this
<br />5eckior� 4.
<br />Lender may rec�uire Borrower to pay a one-time ch�rge for a real estate tax ver�cation and/�r reporting service used by
<br />Lender in connection v�ith this Loan.
<br />5. Property �nsarance. Borro�r+er sha�i keep the imprauements novv exi�g or hereafter erected on the Praperty in�uned
<br />against loss by fire, hazards included witYur� the term "e�ctended caveragc, and any other l�azards includiug but .not limited to,
<br />earthquakes and f]oods, for which I,ender requu'es insurance. This i�usurance shall be maintained in the .amounts (including
<br />deductible levels) and for Che periods that Le�tder requires_ W}iat I;endor requires pursuant.to tlie pr�eceding sentenoes ca� changa
<br />during the term of the T,oan, 'T�e insura�n;ce carriet praviding the insuranca shaJ1 be chosen by Borrower sub;ject to Lender's
<br />right to disapprove Borrawer's choice, which right shall not be exerciscd pnreasonably. T_,ender rnay requita Bottower to pa�y;
<br />in connection with f�is.Loany .either: (a) a on�ti.me charge for #lo.od .zone det�rmutation, certification and traek3ng �ervices; or
<br />(b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or
<br />similar changes occur which reasonably might affect such determination or certi�cation. Borrower shall also be responsible for
<br />the paymeni of any fees irnposed by .the Federal. Ernergesic�+ 1U,{anagexnent .A,geney in cAnneution u±ith tl�e �r;view o.f any �lood
<br />z�one determination resulting from ac� objection by Berrpwer.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's
<br />option and Borrow�er's experase. �,ender is ut�der rw ,obiigation ;to p�hase .any particular fi�e or.at��t v�';e�v�ge. 'T�erefar�,
<br />such coverage shall covEr �,ender, but might or rnight not .prQtect Boirower, Borrawer's equicy in the Property, ox the content�
<br />of the Froperty, against any cisk, hazard or liability and rnight provide gr�ater or iesser caverage than was previously in effect,
<br />Barrower ac;lcnoa�ledges that .the .cost of ihe insurance :cover�e sn obtained �igh# si�nificantly exceed the cost :of insurar�ce
<br />thaz B.orror�er �uu1d .have ob.ta;izzed. Any .amuunts disburs�l by Lender .under this Sectian 5 shall beco�e additional debt of
<br />Borrower secured by this Security Tnstrurnent, These amounts shalt bear %nxerest at the Note rate fram the date of disbursement
<br />anc� sha11 be payabJe, vwith such interest, upom na�ic� �m I,enderto $orrowsr re.questing payr�neut, .
<br />All insurance policies r�quired by Lender and renewals ,vf such .�olicies shall be subjeat to L�nder's right tc� dzsappna�+e
<br />such .pQlicies, shali include a siandard.mortgage.�cIaus�, and �hall name Lender as;rnortgag�ee.and/ar.as an additional i�ss paye�e.
<br />L�nder shall have the right to hold t�e palicies and renewal certifieates. If Lender requires, Borrawer shail promptly give to
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