Laserfiche WebLink
�, <br />2o�.00sii <br />L.ender will estimate from time to time <br />Mortgagor or Grantor's yearly taxes, <br />gssessments, leasehold paymeuts or ground <br />reuts and insurance premiums, which will be <br />called tlae Escrow ltems. Lender wi11 use <br />existing assessments and bllls and re�souable <br />estimates of future assessments and bllls. The <br />amouats that Mortgagor or C3rantor pays to <br />Leuder far Escrow Items under this section <br />will be calted thc Funds. Lender will cp(lect <br />and Itold Funds in an amount uot W excee� <br />the maximum amount a le�der for a federally <br />related mortgage lean may requ[re for <br />Mongagor or Graowr'a escrow accowu <br />under the federal Real Estate Sealement <br />Pmcedures Act af 1974 (as amend�), udess <br />another law that applies to the Funds seta a <br />lesser amount. If so, Lender will collect aqd <br />pold Funds in the lesser amount. <br />Lender will kecp the Fuuds in a savings or <br />banking iqstitution which has its deposits or <br />accounts insured or guaranteed by a federal <br />or state agency. If Lender is such an <br />institutian, L.ender may hold the Funds. <br />Lender will use tl�e Funds to pay the Escrow <br />Items. Lender will give Mortgagor or <br />Grantor, without charge, an aanual <br />accounting o;F the Funds. That accounting <br />must shaw all additions to and deductions <br />fram the Funds and the reason for each <br />deduction. <br />Lender may not charge Mortga�or ot <br />Grantor for holdiug or keeping We Puuds, <br />for using the Funds ta pay Escrow Itecns, <br />for analyzing Moagagar or GranWr's <br />payments af Pu�uds, or far receiviqg� <br />verifying and Wtaling assessmeals and bills. <br />However. Lender may eqacge Moctgagor or <br />Grantor for these services if L.cnder p�ys <br />Mortgagor ar Grantor interest on th�e Pu�s <br />the <br />and if the laW permits Lender to make such a <br />chsrge. Lender may require Mortgagor or <br />Grantor to pay a op�tiz+pe charge far an <br />independent real estate tax reporting service <br />used by Lender in accordauce with the <br />Secured Debts, unless applicable law <br />provides otherwise. Lender will uot be <br />required to pay MoRgagor or Grantor auy <br />interest ac earnings oq the Funds uuless <br />eithec (i) l,,ender and Mortgagor or Grantor <br />agree iu writing� at ihe time Mortgagor or <br />Grautar �igued thia 5ecurity Instrument� that <br />Leader will pay ipterest ou We Funds; oc <br />(i7 the law reqnires Lender ta pay interest on <br />the Fuads. <br />If the Funds held by L.ender exceed the <br />atnouuts pemutted to be held by applicable <br />law, I,euder will account to borrower for the <br />excess Funds in accor�dance wiW the <br />requirements of applicable law. If the amount <br />nf the funds held by Lender at any time is <br />not snfficient to pay the Escrow Items whep <br />due, Le�der may naify bocrower ia wricing, <br />a�d� iu sach case, borrower wi11 paq to <br />Lender clte apuoupt necesxary to make up the <br />shortage or deficiency. Bormwer shall make <br />up We shortage or deficiency as I,,euder <br />directs� subject W the requirements of <br />applicable law. <br />If. by reason of any default under this <br />Security Instrument, Lcr�dcr declares all <br />Secured Debts due aud payable, Lender may <br />then apply aay Funds against the Sccured <br />Debts. <br />When Mortgagor or Grantor has paid all of <br />We sums secured. L.eader will promptly <br />refund tn Mortgagnr or Grantor any Funds <br />that are then being held by Lender. <br />Mat RW�r <br />VMP�flNt�ft SYitM1iTN <br />walan Kww�r flmnclal s.rvk�s � 200Y <br />MTC-q 2ie�2oon <br />vnnr•c�o� �o9oa�.00 <br />Paqs 7 of 3 <br />