201008521 - Laserfiche WebLink

Browse

2oloos�21 amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If I.,ender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient arnount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to Che extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess rnay be applied to any late charges due. Voluntary prepayments shall be applied first to any prepaymenC charges and then as described in the Note. Any application of payaments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds far Escrow Items. Borrower shall pay to L.ender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessrnents and other items which can attain priority over this Security Instrument as a lien or encurnbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to I,ender in lieu of the paymenC of Mortgage Insurance premiums in accordance with the provisions of Section 10. These iCems are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees and Assessments, if any, be escrowed by Borrower, and such dues, fees, and assessrnents shall be ax� Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Sectian. Borrower shall pay Lender the Funds for Escrow Items unless I,ender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escxow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if L.ender requires, shall furnish to Lender receipts evidencing such payment within such time periad as I.ender may require. Borrower's obligation to make such payrnents and to provide receipts sha11 for all purposes be deemed to be a covenant and agreement contained in Chis Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrovver is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender rnay exercise its rights under Section 9 and pay such amnunt and Borrower shall then be obligated under Section 9 to repay to L.ender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, $orrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an arnount (a) sufficient ta permit Lender to apply Che Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RE5PA. Lender shall estitnate the amount of �' B�1.5� -- Single Pamily -- Fannie Mae/Fteddie Mac l7NIFORM INSTRi7MENT Form 3028 11U1 GCC - G3028-05 (09/Ol) (Pnge S of 19) Initials: