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201048583 Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrurnentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. I.ender shall apply the Funds to pay the Escraw Items no later than the tirne speci�ed under RESPA. Lender shall not charge Borrower for halding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Ttems, unless I..ender pays Borrower interest on the Fands and Applicable Law permits Lender ta make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender sha11 give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account ta Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrawer as required by RESPA, and Borrower shall pay ta Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the arnounC necessary to make up ths deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payrnent in full of all surns secured by this Security Instrument, Lender shall prornptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrawer shall pay all taaces, assessments, charges, fines, and irnpositions attributable to the Property which can attain priarity over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Cornmunity Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay thern in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payznent of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcernent of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If I..ender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Y.ender rnay give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Sectian 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvernents now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not lirnited to, earthquakes and ]�$�►S� -- Single Family — Fannle Mae/Iheddie Mac UNIFURM INSTBUMENT Form 302$ 1/ `� GCC - G302$-06 (09/01) (Page 6 of 19) Initials: �—%