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2010085s�
<br />premiums, if any, or any sums payable by aarrower to Lender in lieu of the payment af Mortgage
<br />Insuranee premiums in accordanc�: with the provisions of 5ection 1 Q. Tliesc: iterns are ealled "Escrow
<br />Items." At origination or at any timc during the term of the Loan, Lender mdy 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 Escrow Item. T3c>rrc�wer shall promptly furnish to Lender all notiees of amaunts to
<br />h� paid under this Section. Borrow�r shall pay Lender the F'unds for Escrow Ite;ms unless Lender waives
<br />Borrower's obligation ta pay thc Punds for any or all Escrow Items. Lender may waivc: Bprrower's
<br />obligation ta pay to Lender Funds for any or all �scraw ltems at any time. Any such waiver may anly be
<br />in writing. In the event of such waiver, Barrower shall pay directly, when and where payable, the amounts
<br />due for any Escrow Items for which �aymcnt c�f Funds has been waived by Lender and, if Lender requires,
<br />shall furnish to Lender receipts evideneing such payment within such time period as Lender may require.
<br />Borrower's obligatian to make suclY payments and to provide receipts shall for all purpos�s b� d�;emed to
<br />be a covenant and agreement contained in this Security Instrument, as the phrase "eovenant and agreement"
<br />is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and
<br />Borrower fails to pay the amount due far an Escrow Item, Lender may exercise its rights under Section 9
<br />and pay such amount and I3orrower shall then be obligated under Section 9 to repay to Lender any such
<br />amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in
<br />accardance with Section 15 and, upon such revocation, Borrawer sl�all pay to Lender all Funds, and in
<br />such amaunts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Punds in an arnount (a) suf�cient to permit Lender to apply
<br />tlie Funds at the time specified under RESPA, and (b) not ta excecd thc maximum amount a lend�r can
<br />require under RESI'A. Lender shall cstimatc the amount of Funds due on the basis af current data and
<br />reasonable estimates of expenditures of future �scrow Item� or oth�rwise in accordance with Applicable
<br />Law.
<br />The Funds shall be held in an institution whose d�:pc�sits ar�; insured by a federal agency,
<br />instrumentality, ar entity (including Lender, if Lender is an institution whosc deposits are so insured) or in
<br />any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time
<br />specifed under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annuatly
<br />analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the
<br />Funds and Applicable Law permits Lender to make such a chaxge. Unless an a�;reement is made in writin�;
<br />or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower
<br />any interest or earnings on the Funds. Borrower and Lender can agree in writin�, h�wevc;r, 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 RESPA. If there is a shortage of Funds held in cscrow,
<br />as de�ned under RE5PA, 1,ender shall notify Barrower as required by RESPA, and Borrower shall pay to
<br />Lender the amaunt necessary to make up the shortage in accordance with RESFA, but in no more than 12
<br />monthly payments. If there is a deficiency of Funds held in escrow, as defined under R�SPA, Lender shall
<br />notify IIorrower as required by RESPA, and Barrower shall pay to �.endar the amount necessary to make
<br />up the deficiency in accordance with RESPA, but in no more than 12 montl�ly payments.
<br />Upon payment in full of all sums secured by this Security Instrument, I,ender shall promptly refund
<br />to Borrower any Funds held by Lender.
<br />4. Charges; Liens. $orrower shall pay all taaccs, assessmcnts, charges, ftnes, and imppsitians
<br />attributable to the Property which can attain priority aver this Security Instrument, leasehald payments pr
<br />ground rents on thc Prap�rty, if any, and Community Associatian Dues, Fees, and Assessments, if any. To
<br />the extent that thesc items are Escrow Items, Borrower sliall pay them in the manner provided in 5ection 3.
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