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201008337
<br />premiums, if any, or any sums payable by Borrower 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 />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 �scrow Ttem. Borrower shall promptly furnish to L.ender all notices of amounts to
<br />be paid under this Section. Borrower shall pay L.ender the Funds far Escrow Items unless I.ender waives
<br />Borrower's obligation to pay the Funds for any or a.il Escrow It�ms. L.ender may waive Barrower's
<br />obligation to pay to Lender Funds for any or all Escrow Items at any tirr►e. Any such waiver may or►ly 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 Trender and, if Lender requires,
<br />slaall fumish to Lender receipts evidencing such payment within such time period as Lender rnay require.
<br />Borrower's obligation to make such payments and to provide receipts shall for all purposes be deerned to
<br />be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement"
<br />is used in Section 9. Tf Borrawer is obligated to pay Escrow Items directly, pursuant to a waiver, and
<br />Bonower fails to pay the aznount due for an Escrow Item, Lender may exercise its rights under Section 9
<br />and pay such amount and Borrower shall then be obligated undex Section 9 to repay to I.ender any such
<br />amount. Lender rnay revoke the wa►ver as to an.y 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 Funds, and in
<br />such amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect a�nd hold Funds in an arnount (a) sufficient ta pernut Lender ta apply
<br />the Funds at the time speci�ed under RESPA, and (b) not to exceed the maximuzn amount a lender can
<br />require under RESPA. Lender shall estimate the arnount of Funds due on the basis of current data and
<br />reasonable estimates of expenditures of future Escrow Items ar otherwise in accordance with Applicable
<br />Law.
<br />The Fwnds shall be held in an institution whose deposits are insured by a f�deral agency,
<br />instrumentality, or entity (including Lender, iF J.ender is an institution whose deposits are so insured) or in
<br />any Federal Home Loan Bank. Lender shall apply the �nds to pay the �scrow Ttems no later than the Cime
<br />speci�e�i under RESPA. Lender shall not charge Borrower for holding and applying the Funds, anr►ually
<br />analyzing the escraw account, or verifying the Escrow Iterns, unless Lendear pays Bonrower interest on the
<br />Funds and Applicable Law permits Lender to rnake such a charge. Unless an agreernent is made in writing
<br />or Applicable Law requires interest to be paid on the Funds, I..,ender shall not be required to 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 annual accounting of the
<br />Funds as required by RESPA.
<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 R�SPA. Tf there is a shortage of �'unds held in escrow,
<br />as defined under RESPA, Lender shall natify Borrower as required by RESPA, and Borrower shall pay to
<br />L,ender the atxaount necessary to xnalce up the shortage in accordance with RESPA, but in no more than 12
<br />monthly payments. If there is a de�ciency of Funds held in escrow, as de�ned under RESPA, L.ender shall
<br />notify Borrower as required by RESPA, and Barrower shall pay to I.end�r the amount necessary ta make
<br />up the deficiency in accordance with RE5PA, but in no more than 12 monthly payments.
<br />Upon payrnent in full of all swns secured by this Security Instnunent, Lender shall promptly refund
<br />to Barrower any Funds held by I.ender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, �nes, and impositions
<br />attributable to the Property which can attain priority over this Security Instrument, leasehald payments ar
<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 />Initials:
<br />�-6G�NE) (00o5).oi Pege 5 of 15 Form 3028 1/01
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