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<br />prerniums, if any, or any sums payable by Borrower to 1,ender in lieu of the payment of Mortgage
<br />Insurancc: pr�;miums in accordance with the provisions of 5ection 10. These items are called "Escrow
<br />Items." At arigination or at any time during the term of the Loan, Lender may require that Community
<br />Association Dues, Fees, and Assessments, if any, be escrowed by Barrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to
<br />be paid under this Section. Borrower shall pay L,ender the Funds for Escrow itcros unless Lender waives
<br />Borrower's obligation t� pay the Funds for any or all Escrow Items. Lender may waive $orrower's
<br />obligation to pay ta I,ender Funds far any or all Escrow Items at any time. Any such vvaiver may only bc
<br />in writing. In the event of such waiver, Borrowcr shall pay directly, when and where payable, the amounts
<br />due for any Escrow Items for which payment of Funds has b�en waived by Lendcr and, if Lender requires,
<br />shall furnish to Lender receipts cvidencing such payment within such time period as Lender may require.
<br />$orrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to
<br />be a covenant and agreement contained in this 5ecurity Instrument, as the phrase "covenant and agreement"
<br />is used in 5ection 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waivcr, and
<br />Barrower fails to pay the amount due for an Escrow ltem, Lender may exercise its rights under Section 9
<br />and pay such amount and Borrower shall then be obligated under 5ection 9 to repay ta Lend�r any such
<br />amount. Lender may revoke the waiver as to any or all Escrow ltems at any time by a notice given in
<br />acc�rdance with Section 15 and, upero such revocation, Borrower shall pay to Lender all Funds, and in
<br />such am<>unts, that are then requircd undcr this Scctian 3.
<br />Lender may, at any time, eollect and hold Funds in an amount (a) sufficient to permit �.ender to apply
<br />the Funds at thc time spcci�ed under R�SPA, and (6) not to exceed the maximum amount a lender can
<br />require under RESPA. Lender shall estimat� the amount of Punds due on the basis of current data and
<br />reasonable sstimatcs of �xpenditur�s of future �scrow Items or otherwise in accordance with Applica}ale
<br />Law,
<br />The Funds slYall bc: hcld in an institution whose deposits are insured by a federal agency,
<br />instrumentality, or cntity (including Lender, if Lender is an institutian whose depasits are sc� insured) or in
<br />any Federal Home I,aan Aank. Lcnder shall apply the Funds to pay the Escrow Items no lat�r than the time
<br />specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually
<br />analyzing thc escrow account, or verifying the Escrow Items, unless I.,ender pays Borrower interest on the
<br />Punds and Applicablc Law permits Lender to make such a charge. Unless an agrccment is made in writing
<br />or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower
<br />any int�rest c�r earnings oa� the Funds. Borrower and Lender can agre� in writing, however, that interest
<br />shall be paid on the Punds. Lender shall give to Borrower, withaut charge, an annual accounting of the
<br />Funds as rcquired by R�SPA.
<br />If there is a surplus af Funds held in escrow, as defined under RESPA, Lcaader shall account to
<br />Bc�rrower for the excess funds in accordance with RESPA. If there is a shartage of I� unds held in escrow,
<br />as a�fined undcr RESPA, I.,ender shall notify Borrower as required by RBSPA, and Borrawer shall pay to
<br />Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12
<br />rnonthly payments. If ther� is a deficiency of Funds held in escrow, as de�ned under RESPA, I.ender shall
<br />notify Borrc�wer as requircd by R�SPA, and Borrower shall pay to Lender the amaunt nec�ssary ta maJce
<br />up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Sccurity instrument, Lender shall promptly refund
<br />to Borrower any Funds held by Lender.
<br />4. C:harges; L.iens. Borrower shall pay all taxes, ass�ssment5, charges, fincs, and impositions
<br />attributable to the Property which can attain priority over this Security Instrument, leasehold payments or
<br />grounci rents c�n the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To
<br />the extent that th4se items �re �scrow Items, F3arrower shall pay them in the manner provided in Section 3.
<br />�-6(NE) �oao��.o2
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<br />1111056576
<br />Farm 3028 1/A1
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