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2oioos�s3 amounts due under this Security Instrument, and then tn reduce the principal balance of the Note. If L,Qnder receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount ta pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Paynnent is outstanding, Lender may apply any payment received frorn Borrower to the repayment of the Periodic Payments if, and to the extent that, each payrnent can be paid in full. To the extent that any excess exists after the payrnent is applied to the full payrnent of one or more Periodic Payments, such excess rnay be applied to any late charges due. Voluntary prepayments shall be applied �rst to any prepayment charges and then as described in the Note. Any applicatian of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend ar postpone the due date, ar change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender 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 assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance an the Property; (b) leasehnld payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lend�r under Section 5; and (d) Martgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiurns in accordance with the pravisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender rnay require that Cornmunity Association Dues, Fees and Assessments, if any, be escrowed by Borrower, and such dues, Fees, and assessments shall be an Escrow Item. Borrower sha11 promptly furn.ish to L.ender all notices of amounts to be paid under this Section. Borrower sha11 pay Lender the Funds for Escrow Iterns unless I.ender waives Borrower's obligation to pay the Funds far any or all Escrow Ttems. I.,ender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay direcCly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to T.ender receipts evidencing such payment within such tirne period as Lender rnay require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, I.ender may exercise its rights under Section 9 and pay such amount and Barrower shall then be obligated under 5ection 9 to repay to Lender 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 1S and, upon such revocation, Borrower shall pay to I.ender 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 amount (a) sufficient to perntit I,ender to apply the Funds at the time specified under RESPA, and (b) not ta exceed the maximurn amaunt a lender can require under RESPA. Lender shall estimate the arnount of �B�.Sj{�l -- Siugle Family -- Fannle Mae/l�}eddie Mac UNIFORM 1NSTRUMENT Form 30Z8 rr 1� GCC - G3028-05 (09/01) (Fage S of 19) Initials: `--�