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� <br />� <br />2oioo9��v <br />;b�f[�t:l° � j t' <br />,; <br />Lender will estimate from time Co time <br />Mortgagor or Grautor's yearly taxes, <br />assessments, leasehold payments or ground <br />rents and insurance premiums, which will be <br />called the Escrow Items. Lender will use <br />existing assessments and bills and reasonable <br />estinnates of future assessments and bills. 'I'he <br />amounts that Mortgagor or Grantor pays to <br />Lender for Escrow Items under this section <br />will be called the Funds. Lender will callect <br />and hold Funds in an amount not to exceed <br />the ma�cimum amaunt a lender for a federally <br />related mortgage loan may require for <br />Mortgagor or Grantor's escrow account <br />under the federal Real Estate Settlement <br />Procedures Act of 1974 (as amended), uuless <br />another law that applies to the Funds sets a <br />lesser amount. If sa, Lender will collect and <br />hold Funds in the lesser amount. <br />Lender will keep the Funds in a savings or <br />banking institntion which has its deposits or <br />accounts insured or guaranteed by a federal <br />or state ageucy. If Lender is such an <br />institution, Lender may hold the Funds. <br />Lender will use the Funds to pay the Escrow <br />Iteuls. Lender will give Mortgagor or <br />Grantor, without ctiarge, an annual <br />accounting of the Funds. That accouuting <br />must shaw all additions to and deductions <br />from the Funds and the reason for each <br />deduction. <br />Lender may not charge Mortgagor or <br />Grantor for holding or keeping the Fun�ds, <br />for us'rng the Fuuds to pay Escrow Items, <br />for analyzing Mortgagor or Grantor's <br />payments of Funds, or for receiving, <br />verify'rng and totaling assessments and bills. <br />However, Leuder may charge MoRgagor or <br />Grantor for these services if Lender pays <br />Mortgagor or Grautor interest on the Funds <br />and if the law permits Lender to make such a <br />charge. Lender may require Mortgagor or <br />Grantor to pay a one-tixne charge for an <br />independent real estate tax reportiug service <br />used by Lender in accordance with the <br />Secured Debts, unless applicable law <br />provides otherwise. Lender will not be <br />required to pay Mortgagor or Grantor any <br />interest or earnings on the Fun�ls unless <br />eithec (i) Lender and Mortgagor or Grantor <br />agree in writing, at the time Mortgagor or <br />Grantor signed this Security instrument, that <br />Lender will pay interest on the Funds; or <br />(ii) the law requires Lender to pay interest on <br />the Funds. <br />If the Funds held by I,ender exceed the <br />amounts permitted to be held by applicable <br />law, Lender will acconnt to borrnwer for the <br />excess Funds in accordance with the <br />requirements of applicable Law. If the amount <br />of the funds held by Lender at any time is <br />not sufficient to pay the 1?scrow Items when <br />due, Leader may notify borrower in writing, <br />and, in such case, borrower will pay tn <br />Lender the amouut necessary to make up the <br />shortage or deficiency. Borrower shall make <br />up the shaRage or deficiency as Leuder <br />directs, subject to the requirements of <br />applicable law. <br />If, by reason of any default under this <br />Security InstritCm�i�; Len�i"er tie.�I�te� att <br />Secured Dehcs due and payable, Lender may <br />then apply any Funds against the Secured <br />Debts. <br />When Mortgagor or Grantor has paid all of <br />the sums secared, Lender will promptly <br />refund ta Mortgagor or Grantor any Funds <br />that are then being held by Lender. <br />Mortqaga Rider <br />VMP� Bankers SystamsTM <br />Woltars Kluwer Financial Sarvices � 2009 <br />nnrc-R srsnooa <br />VMP-C701 (09021.OD <br />Page 2 of 3 <br />