201009490 - Laserfiche WebLink

Browse

201009490 Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or cntity (including Lender, if T.,ender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time speci�ed under RESPA. L.ender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless I.ender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as de�ned under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no rnore than 12 monthly payments. If there is a deficiency of Funds held in escrow, as de�ned under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to malce up the deficiency in accardance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, �nes, and irnpositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Comrnunity Association Dues, Fees, and Assessments, if any. To the extent that these iterns are Escrow Items, Borrower shall pay thern in the manner provided in Section 3. Borrower shall prornptly discharge any lien which has priority over this Security Instrument unless $orrower: (a) agrees in writing to the payment af the obligation secured by the lien in a manner acceptable ta Lender, but only sa long as Borrower is performing such agreement; (b) contests the lien in gaod faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the li�n while thnse proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to L,ender subordinating the lien to this Security Tnstrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, L.ender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borxower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/ar reparting service used by Lender in connection with this Y.oan. S. Property Insurance. Borrawer shall keep the improvements now existing or hereafter �rected on the Property insured against lass by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and �B�S� -- Single Family -- Fanufe MaelPYeddie Mac l7NIFORM INSTRUMENT Farm 30�8 1/Yl � � � GCC - G3028-06 (09/01) (Fage 6 of 19) Initials: �,� �