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2010093Q�
<br />The Funds shall be held in an institution whose deposits arc insured by a federal agency, instrumentality, or
<br />entity (including Lender, if Lender is an institution whose deposits are so insured) or in any F'ederal Home Loan
<br />Bank. Lander shall apply the Funds to pay the Escrow ltems no later than thc tima specified under RESPA. Lender
<br />shal) not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying
<br />thc Escrow Items, unless Lender pdys 9orrower interesc on the Funds and Applicable L.aw permits Lender to make
<br />such A charge. Unless an agreement is made in writing or Applicable Law requires interest to 6e paid on the Funds,
<br />Lender shall not be required to pay Borrower any interest or esrnings on the Funds. Borrower and Lender can agree
<br />in writing, however, that interest shall be paid on the Punds. Lender shall give ro Borrower, without charge, an
<br />annual accounting af the H'unds as required by RESPA.
<br />If'there is a surplus of I�unds held in escrow, as defined undar RF.SPA, Gander shall account to Borrower for
<br />the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as deFined under RESPA,
<br />�.ender shall notify Horrower as required by RESPA, and Borrower shall pay to I.ender the umount necessary ta make
<br />up the shortage in accordancc with RESPA, but in no more than 12 monthly payments. If there is a deficiency of
<br />Funds held in escrow, as defined undar RESPA, Lender shall notify Borrower as required by RESPA, and Borrower
<br />shall pay to Lendar tha amount necessary to make up the deficiency in accordance with RBSPA, but in no more than
<br />12 monthly payments.
<br />Upon payment in full oF all sums secured by this Security Instrument, Lender shall promptly refund to Bvrrower
<br />any Funds held by Lender.
<br />4. Charges; C.lens. Borrowar shall pay all taxes, assassmants, charges, finas, and impvsitions attributable to
<br />the Property which can attain priority over this Security Instrument, leasehold payments or gound rents on the
<br />Property, if any, and Communiry Association Dues, Fees, and Assessments, if any. To the extent that these items
<br />are Escrow Items, Borrower shall pay them in the manner provided in Saction 3.
<br />Borrower shall prumptly discharge any lien which has prioriry ovcr this Security Instrument unless Horrower:
<br />(a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only
<br />so long as Borrower is performing such agreemant; (b) contasts the lien in good faith by, or defends against
<br />enforcement of the licn in, Icgal procecdings which in L.ender's opinion operate to prevent the enforcement of the lien
<br />while thpse procaedings arc pending, but only until such proceedings are concluded; or (c) secures from the holder
<br />of the lien an agreement satisfactory to Lendar subordinating the lien to this Securiry Instrument. If Lender
<br />determines that any part of the Property is subject to a lien which can attain priority over this Security Inscrument,
<br />Lender may give Borrower a notice identifying the lien. Within l0 days of the data on which that notice is given,
<br />6orrower shall satisfy the lien or take one or morc of the actions set forth abovc in this Section 4.
<br />Lender may �equire Borrpwer to pay a one-time charge for a real estate tax veriFcation and/or raporting scrvica
<br />used by Lender in connection with this Goan.
<br />5. Property Insurance. 8orrower shall keep the impravements now existing or here�fter erecced pn the
<br />Properry insured against loss by fire, hazards included within the term "extended coverege," and any other hazards
<br />including, but not limited to, earthquakes and floods, for which Lender requires insurance. 'fhis insurance shall be
<br />maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender
<br />requiras pursuant to the preceding sentences can change during the term of the C,oan. The insurance carrier providing
<br />the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall
<br />not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-
<br />time char$e for flood zone determination, certification and �racking services; or (b) a onc-time charga fbr tlood zone
<br />determination and certification services and subsequant charges each timc ramappings or similar changes occur which
<br />reasonably might affect such determination or certification, k�orrower shall also be responsible for the payment of
<br />any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone
<br />detarmination resulting from an objection by 13orrvwer,
<br />If Borrower fails to maintain any of the coverages described above, 1,ender may obtain insurance caverage, at
<br />Lander's option and Borrower's expense, l.ender is under no obligation to purchase any particular type or amount
<br />of coverage. Therefora, such coveraga shall cover Lander, but might or might not protect Rorrower, 8orrower's
<br />equity in the Property, or the contants of tha Proparty, against any risk, hazard or liability and might provide greater
<br />or lesser coverage than was previously in effect. Borrower acknowledgas that the cost of the insurance coverage so
<br />obtained might signiticantly exceed the cost of insurance that 6orrower could have obtained. Any amounts disbursed
<br />by Lender under this Section S shall bacome additional debt of Borrower secured by this Security Instrument. These
<br />amounts shall bear interest at the Note rate from the date af disbursement and shall be payable, with such interest,
<br />upon notice from Lender to 8orrower requesting payment.
<br />Al] insurance policias required by I,ender and renewals of such policias shall be subject to Lender's right to
<br />disapprove such policies, shall include a standard mvrtgage clause, and shall name Lender as mortgagee and/or as an
<br />additional loss payee. Lender shall have the right to hold the policies and renewal certificAtes. If Lender requires,
<br />Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any
<br />form of insurance coveraga, not otherwisc raquired by Lendcr, for damagc to, or destruction of', tha Proparty, such
<br />policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss
<br />payee.
<br />In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lendar. Lender may make
<br />proof of loss if not made promptly by Borrower. Unless Lander and Borrowar otherwise agree in writing, any
<br />insurance proceeds, whethcr or not the underlying insurance was required by Lender, shall be applied to restoration
<br />or repair of thc Property, if thc restoration or repair is economically feasible and Lender's securiry is not Icssened.
<br />During such repair and rastoration period, Lander shall have the right to hold such insurance proceeds until Lender
<br />has had an opportunity to inspect such Properry to ensure thc work has bcen completad to Lender's satisfaction,
<br />Borrower lnitials: �� ��
<br />Fo�mR3028 1 50�g1e Fa y--Fannie Mae/Freddie Mac UNIP g 4 I�NS;RIIMENT - MERS pocMa
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