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201009400
<br />Lender may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a
<br />federally related mortgage loan may require for Borrower's escrow account under the federal Real Estate
<br />Settlement Procedures Act of 1974 as amended from time to timc, 12 U.S.C. Section 2601 et seq. ("R�SPA"),
<br />unless another Applicable Law that applies to the Funds sets a lesser amount. If so, Lender may, at any time,
<br />collect and hold Funds in an amount not to exceed the lesser amount. Lender may estimate the amount oF Funds
<br />due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in
<br />accordance with Applicable Law.
<br />The Funds sha11 be held in an institution whase deposits are insured by a federal agency, instrumentality, or entity
<br />(including Lender, if I.ender is such an i;nstitution) or in any Federal Home Loan Bank. Lender shall apply the
<br />Funds to pay the Escrow Iterns. L.ender may not charge Borrower for holding and applying the Funds, annually
<br />analyzing the escrow account, or verifying the Escrow Items, unless L.ender pays Borrower interest on the Funds
<br />and Applicable Law pernuts Lender to make such a charge. However, Lender may r�quire Borrower to pay a one-
<br />time charge for an independent real estate tax reporting service used by I.ender in connection with this laan, uz�less
<br />Applicable Law provides otherwise. Unless an agreement is made or Applicable I.,aw requires interest to be paid,
<br />Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender may
<br />agree in writing, however, that interest shall be paid on the Funds. I.ender shall give to Borrower, without charge,
<br />an annual accounting of the Funds, showing caredits and debits to the Funds and the purpose far which each debit to
<br />the Funds was made. The Fwnds ar� pledged as additional security for all sums secured by this Security Instrument.
<br />If the Funds held by Lender exceed the amounts permitted to be held by Applicable Law, Lender shall account to
<br />Borrow�r for the excess Funds in accordance with the requiremen.ts of Applicable Law. If the amount of the Punds
<br />held by Lender at any time is nat sufficient to pay the Escrow Ttems when due, I.ender may so notify Borrower in
<br />writin�, and, in such case Borrower shall pay to Lender the amaunt necessary to make up the deficiency. Borrower
<br />sha11 make up the deficiency in no more than twelve monthly payments, at Lender's sole discretion.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any �'unds held by Lender. If, under tha section titled Acceleration; Remed3es, I.ender shall acquire or sell the
<br />Property, Lender, prior to the acquisition or sale of the Property, shall apply any Funds held by Lender at the time
<br />of acquisition or sale as a credit against the sums secured by the Security Instrument.
<br />Appl�cation of Payments. Unless Applicable Law provides otherwise, all payments received by Lender shall be
<br />applied: first, to any prepayment charges due under the Note; second, to amounts payable under the section titled
<br />Funds fur Taxes and Insurance; third, to interest due; fourth, to principal due; and last, to any late charges due
<br />under the Note.
<br />Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the
<br />Property which may attain priority over this Security Instrument, and leasehold payrnents or ground rents, if any.
<br />Borrower shall pay these obligations in the manner provided in section titled Funds for Taxes and Insurance, or
<br />if not paid in that manner, Sarrower shall pay them on time directly to the p�rson owed payment. At the request o£
<br />Lender, Borrower shall promptly funnish to L.ender receipts evidencing the payrnents.
<br />Borrower shall promptly discharge any lien which has priority over this Secw7ity Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable ta Lender; (b)
<br />contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the
<br />Lender's opinion operate tn prevent the enforcement of the lien; or (c) secures from the holdcr of the lien an
<br />agreement satisfactory ta Lender subordinating the lien to this Security Instrument. If Lender detertnines that any
<br />part of the Properry is subject to a lien which may attain priority over this 5ecurity Instrument, I.ender may give
<br />Borrower a natice identifying the lien. Borrower shall satisfy the lien or take one or more af the actians set forth
<br />above within 10 days of the giving of notice.
<br />Hazard or Property Insurance. Borrower shall keep the improveznents now existing or hercafter erected on the
<br />Property insured against_loss by fu�hazarcis included_within_the_term "extended coverage" and any other hazards,
<br />including floods or flooding, for which Lender requires insurance. This insurance shall be maintained in the
<br />amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by
<br />Borrower subject to Lender's approval which shall not be unreasonably withheld. If Barrower fails to maintain
<br />coverage described above, 1.ender rnay, at Lender's option, abtain coverage to protect Lender's rights in the
<br />Property in accardance with section titled ProteeHon of Lender's Rights in the Property.
<br />All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, $orrower shall promptly give to
<br />L.ender all receipts o£ paid premiums and ranewal notices. In the event of loss, Borrower shall give prompt notice
<br />ta the insurance carrier and L.ender. Lender rnay make proof of loss if not made promptly by Borrower.
<br />Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or
<br />repair of the Praperiy damaged, if the restoration or repair is economically feasible and I,endcr's security is not
<br />lessened. If the restoration or repair is not econotnically feasible or L,ender's security would ba lessened, the
<br />insurance proceeds shall be applied to the sutns secured by this Security Instrument, whether or not then due, with
<br />any excess paid to Borrower. If Borrower abandons the Property, or does not answer within the number of days
<br />prescribed by Applicable Law as set forth in a notice from Lender to Borrower ttxat tha insurance carrier has
<br />offered to settle a claim, then Lender may collect the instu'ance proceeds. Lender may use the proceeds to repair or
<br />restore the Froperty or to pay sums secured by this Security Instrument, whether or not then due. The period of
<br />time for Borrower to answer as set forth in the notice will begin when the notice is given.
<br />� 2004-2009 Camplience Systems, lnc. 002D-3459 - 2009.12368
<br />Conaumer Real Estate - Seeudty Instrument DL2036 Pege 2 0(6 www.eomplianceayetema.com
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