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2oioos4so amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment frorn Borrower for a delinquent Periodic Payment which includes a sufficient amaunt 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, Lender may apply any payment received frnm Borrower to the repayment of the Periodic Payrnents 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 payrnent of one or more Periodic Payments, such excess may be applied to any late charges due. Valuntary prepayments shall be applied first to any prepayment charges and then as described in the Nate. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payrnents. 3. Funds for Escrow Items. Borrower sha11 pay ta L.ender on the day Periodic Paynnents are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amaunts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrurnent as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the 1'roperty, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Martgage Insurance prerniums, if any, ar any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Comrnunity Association Dues, Fees and Assessments, if any, be escrowcd by Barrower, and such dues, fees, and assessznents shall be an Escrow Item. Borrower shall promptly furnish to r,ender all notices of amounts to be paid under this Section. Borrower shall pay I..ender the Funds for Escrow Items unless I.ender waives Borrower's obligation to pay the Funds for any or all Escrow Iterns. Lender may waive Borrower's abligation to pay to Lender 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 amaunts due for any Escraw It�ms 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 nnay require. Borrower's obligation to make such payments and to pravide receipts shall for all purposes be deemed ta be a cavenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is abligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, I.ender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Sectian 9 to repay to Lender any such amaunt. Lender may revoke the waiver as to any or all Escrow Items at any tirne by a notice given in accordance with Section 15 and, upon such revacation, Borrower shall pay to I.ender all Funds, and in such amounts, that are then required under this 5ection 3. Lender may, at any time, collect and hnld Funds in an amount (a) sufficient ta permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum arnount a lender can require under RESPA. Lender shall estimate the amount of ��.�`� -^ Single Family -- Fuwie Mre/Ih�eddie Msc UNIFORM INSTRUMENT �orm a026 1/ GCC - G3028-05 (09/01) (Page S of 19) Initials: ��