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2U1008794
<br />premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mort�age
<br />Insurancc prcmiums in accordance with the provisions of Sect'ron 10. These itcros are called "�scrow
<br />Items." At c>rigination or at any time during the term of the Loan, Lender may require tliat Community
<br />Association Dues, Fees, and Assessments, if any, be escrowed by $orrower, and such dues, fees and
<br />assc:ssments shall be an Escrow Item. Barrower shall promptly furnish to I,ender all natices of amaunts to
<br />be paid under this Section. Borrower shall pay Lender the Funds for �scrow Items unless Lender waives
<br />Borrower's obligation to pay the Funds for any or all Cscrow Items. Lender rnay waive Borrower's
<br />obligation to pay t� Lender Funds for any or all Escrow Items at any time. Any such waiver may only b�
<br />in writing. In the event of such waiver, Borrower shall pay directly, when and wh�rc; payable, the amaunts
<br />due for any �scrow Items for which payment of Funds has been waived by Lender and, if I.ender requires,
<br />shall furnish ta Lender receipts evidencing such payment within such time p�riod as Lender may require.
<br />Borraw�r's obligation to make such payments and to provide receipts shall for all purposes be deemcd to
<br />be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreemcnt"
<br />is used in Section 9. If Borrower is obligated to pay Escrow ltems directly, pursuant to a waiver, and
<br />Barrower fails ta pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9
<br />and pay such amount and Borrowcr shall thcn be abligated under Sc:ction 9 ta 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 givcn in
<br />accordance with Section 15 and, upon such revocatian, Harrower shall pay to Lender all Funds, and in
<br />such amounts, that are then required under this S�ctian 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply
<br />the Funds at the time spccified under RESPA, and (b) not to exe�ed the maximum amount a lender can
<br />require under RESFA. Lender sllall c:stimate the amount oF Punds due on the basis af current data and
<br />reasonable estimates of cxpenditures of future Escrow Items ar ptli�rwise in accordance with Applicable
<br />Law.
<br />Thc rupa:; sl�xll b� held in an institutian whpse deposits are insured by a federal agency,
<br />instrumentality, or entity (including I,cnder, if L�ndcr is an institution whps� deposits are so insured) or in
<br />any Pederal Home I.,oan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time
<br />specified und�r RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually
<br />analyziaYg th� escrc�w account, or verifying the Escraw Iterns, unless Lender pays Barrawer interest on the
<br />Fu��ds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing
<br />or Applicable Law requires inter�st to be paid on the Funds, Lc:nder shall not be required to pay �3orrawer
<br />any interest or earnings on the Funds. Borrawer and I,ender can agree in writing, however, that interest
<br />shall be paid on the Funds. Lender shall giv� to Sarrow�r, without charge, an annual accaunting of the
<br />Punds a.� rcquired by RE9PA.
<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 escrow,
<br />as defined under RESPA, Lender shall notify $orrower as required by RBSFA, and $orrower shall pay to
<br />Lender the amount necessary to make up the shortage in accordance with RBSPA, but in no more than 12
<br />monthly payments. lf there is a deficiency of Funds held in escrow, as defined under RESFA, Lender shall
<br />notify Borrower as required by RESl'A, and Borrower shall pay to Lender the amount necessary to make
<br />up the deficiency in accordance with REST'A, but in no more than 12 monthly payments.
<br />Upon payment in full af all sums secured by this Security Instrument, Lender shall pramptly refund
<br />to Borrower any Funds held by Lender.
<br />4. Charges; I.,'rens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Prope'rty which can attain priority over this Security Instrpment, leasehold payinents or
<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 />1111056355
<br />i8:
<br />�-6(NE) (oao�).o2 Pg7e 5 of 15 ��,�� Form 3028 1l01
<br />W �)
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