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�oioo945� �, , ; � „ ,. � . Lender will estimate from time to tune Mortgagor or Grantor's yearly taxes, assessments, leasehold payments or ground rents and insurance premiums, which will be called the Escrow Items. Lender will use existing assessments and bills and reasonable estimates of future assessments aad bills. The amounts that Mortgagor or Granto[ pays to Lender for Escrow Items under this section will be called the Funds. Lender will collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally related znortgage loan may require for Mortgagoc or Grantor's escrow account under the federal Real Estate Settlement Procedures Act of 1974 (as ameuded), unless another law that applies to the Funds sets a lesser amount. If so, Lendec will collect and hold Fuuds in the lesser amount. Lender will keep the Fuu.ds in a savings or banking institution which has its deposits or accounts insured or guaranteed hy a federal or state ageucy. If Lender is such an institution, Lender may hold the Punds. Lender w'rll use the �'unds to pay the Escrow Items. Lender will give Mortgagor or Grantor, without charge, an annual accounting of the Funds. That accounting must show a11 additions to and deductions from the Funds and the reason for each deduction. Lender may not charge MoRgagor or Grantor for holdin�g or keeping the Funds, for using the Funds to pay Escrow Items, for analyzing Mortgagor or Grantor's payments of Funds, or for receiving, verifying and totaliug assessments and bills. However, Lender may charge Mortgagor or Grantor for these services if Lender pays Mortgagor or Grantor interest on the Funds and if the law permits Lender to rnake such a charge. L�nder may require Martgagor or Grantor to pay a one-time charge for an independent real escate tax reporting service used by Lender in accordance witl� the Secured Debts, unless applicable law provides otherwise. Lender will not be required to pay MoRgagor or Grantar any interest or earnings on the Funds unless either (i) Lender and Mvrtgagor or Grantor agree in writing, at the time Mortgagor or Grantor signed this Secnrity Instrument, that Lender will pay interest on the Funds; or (ii) the law requires Lender to pay iuterest on the Funds. If the Fuuds held by Lender exceed the amounts permitted to be held by applicable law, �ender will accouat to borrower for the excess Funds iu accordance with the requirements of applicable law. Tf the amount of the funds held by Lender at any time is not sufficient to pay the Escrow Items when due, Lender may uotify borrower in writing, and, in such case, borrower will pay to Lender the amount necessary to make up the shortage or deficiency. Barrnwer sha11 make up the shortage or deficiency as Lender directs, subject to t6e requirements of applicable law. I•f, by reason of any defautt under this Securicty Instrum�nt, Lender declares all Secured Debts due and payable, Lender xnay theu apply any Funds against the Secured Debts. When MoRgagor oc Grantor has paid all of the sums secured, Lendet� will promptly refund to Mortgagor or Grantor any Punds that are then being h�eld by Lender. Mort age Rldar VMP� Bankers SyatemarM Wolters Kluwer Flnancial Servicea � 2009 � � M7G-R 2l6/2009 VMP-C701 (0902).00 Page 2 of 3 --- ---.— �'r�` . ........