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<br />premiums, if any, or any sums payablc by I3c>rrow�r ta Lender in lieu of the payment of Mortga�c
<br />lnsurance premiums in accord�ncc with the provisions of Section 10. These items arc callcd "�scrow
<br />Items." At origination or at any time during the term of the Loan, Lender may require that Community
<br />Association Dues, Pecs, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an �scrow Itern. Borrower shall promptly furnish to Lender all notices of amounts to
<br />be paid under this Sectic�n. Barrawer shall pay Lender the Funds for �scrow Items unless Lender waives
<br />$orrower's obligatian to pay the Funds far any or all Escrow Items. Lender may waive Barrower's
<br />obligation to pay to Lender Funds for any or all Escraw Items at any time. Any such waiver may only be
<br />in writing. ln the event of such waiver, �orrower shall pay directly, when and where payable, the amounts
<br />due for any Escrow Items for which payment of Funds has been waived by Lendcr and, if Lender requires,
<br />shall furnish to Lender receipts evidencing such payment within such time p�riod as Lender may require.
<br />Borrower's obligation to make such payments and to provide receipts shall for all purpases b� deemed to
<br />be a covenant and agreement contained in this Security Instrumcnt, as the phras� "covenant and agreement"
<br />is used in Section 9. If Borrower is c�bligated to pay �scrow Items dircctly, pursuant to a waiver, and
<br />Borrower fails to pay the amount due for an �scrc�w Ttem, I.endcr may exercise its rights under Section 9
<br />and pay such amount and �orrower shall tlien be obli�ated under Section 9 ta repay to Lender any such
<br />amount. Lender may rcvoke thc waivcr as to any or all �scrow Items at any time by a notice given in
<br />a�cordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in
<br />such amounts, that are then required under this 5ection 3.
<br />Lendcr may, at any ti�ne, collect and hold Funds in an amount (a) sufficient to permit Lender to apply
<br />the Funds at the timc specified under RESPA, and (b) not to cxcec:d the maximum amount a lender can
<br />require under RESPA. Lender shall estimate tlac a�nouirt of Punds duc on the basis of curre�7t data and
<br />reasonable estimates c>f expenditur�s c>f future Escrow ItCms or otherwise irl �CCOrdanCe witl� AppliCable
<br />Law.
<br />The: Punds shall bc held in an institutian whose deposits �u insured by a federal agency,
<br />instrumentality, or cntity (inCluding Lc�nder, lf Lf:riCI41' lti ii17 111St1tUt1011 WIIUS� C�C�OS1t5 �iTC Sp 111SU1'L'C�� ()I' 117
<br />any Federal Home Loan Bank. Lender shall apply the Funds ta pay the Escrow Items na later than the time
<br />specified under RESPA. Lender shall not charge Borrower fpr holding and applying the Funds, ai�iaually
<br />analyzing the escraw accaunt, or verifying the Escrow Items, unless Lender pays Borrower interc;st on the
<br />Punds and Applicable Law perrnits Lender tp make such a chaa Unless an agreement i5 made in writing
<br />or Applicable Law r�quires intcrest to be paid on th� Funds, Lender shall not be required to pay Borrower
<br />any interest or earnin�;s on the Funds. Borrowcr and Lender can agree in writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the
<br />Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RBSFA, Lender shall account to
<br />Borrower for the excess funds in accordance with RESFA. If there is a shortage of Funds held in escrow,
<br />as defined under R�SPA, Lender shall notify $arrower as required by RESPA, and Barrower shall pay to
<br />Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12
<br />monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall
<br />notify Borrower as required by RL�SPA, and Borrower shall pay to Lender the amount necessary to make
<br />up the deficiency in ac;cordan4e with R�SPA, but in nc� more than 12 mcmthly payments,
<br />Upon payment in full of all sums securcd by this Security Instrument, Lendc:r shall promptly rcfund
<br />to Borrower any Funds held }ay Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which can attain priority over this Security Instrument, leasehold payments or
<br />ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To
<br />the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
<br />�-6�NE) �oao��.o2
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<br />Form 3028 1/01
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