201008997 - Laserfiche WebLink

Browse

2 oioos997 amounts due under this Security Instrurnent, and then to reduce tha principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payrnent which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, T.ender may apply any payment received from Barrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of ane or more Periodic Payments, such excess may be applied to any late charges due. Valuntary prepayments shall be applied �rst to any prepayment charges and then as described in the Note. Any application of payments, insurance proce�ds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. �'unds for Escrow Items. Borxower sha11 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) ta7ces and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payrnents or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Sectian 1Q. These items are called "Escrow Items." At origination or at any time during the term of the Loan, I.ender rnay require that Community Association Dues, �'ees and Assessments, if any, be escrow�d by Borrower, and such dues, fees, and assessments shall be an Escrow Item. Borrower shall promptly furnish ta T.ender all notices of amounts to be paid under this Section. Borrower shall pay L,ender the Funds for Escrow Items unless Lender waives Borrower's abligation ta pay the Funds for any or all Escrow Items. I,ender may waive Borrower's obligation ta pay to T.ender 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 directly, 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 Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide xeceipts 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 Iterns directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, L,ender may exercise its rights under Sectian 9 and pay such arnount and Borrower shall then be obligated under Section 9 to repay to Lender any such amaunt. Lender may revoke the waiver as to any or all �scrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to L,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 permit I.ender to apply the Funds at the time speci�ed under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amaunt of �B�SK.aI -- Single Family — Fannie MaelFreddie Mrc UNIFQRM INSTRUMENT Form 302$ 1 GCC - G3028-05 (09/Ol) (Page 5 af 19) Initials: