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<br />yearJy leasehold payments c�r ground rents a� the Property, if any; (c) yearly hazard or property insurance
<br />premiums; (d) yearly flnod insurance premiums, if any; (e) yearly mortgage insurance premiums, if any; and (�
<br />any sums paya6le Uy k3orrower to Lender, ia� accordance with the provisions of tha paragraph titled Mortgage
<br />insurance, in lieu of the payment oF morigage insurance premiums. These iterns are called "Escrow Items."
<br />I�etider may, at any tit�ae, collect and l�old FundS in an amount not to exceed the n�axirnum amount a lender for a
<br />tederally retated inortga�;e loan tnay require ti�r Borrower's escrow accounC und�r tl�e federal Real l:state
<br />Settlement Procedures Act of 1974 as amended frotn time tn time, 12 U.S.C. Section 2601 et seq. ("RESPA"),
<br />unlesti another Applicable I..avv that applies to the Funds sets a lesser amount. If so, Lender may, at any time,
<br />collect and hold Fua�dS in an amount not.to �xceed the lesacr amount. Lender may estimate the an�ount of Punds
<br />due on the basis of ciu'rent data and reasonable estirnates c�C ex�enditures of future Escrnw Items or otherwise in
<br />accordance with Applicable Law.
<br />The Hunds shall Ue held in an insCitution whose deposits are insured by a federal agency, instrumentality, or entity
<br />(including I.ender, if Lender is such an institution) or in any �'ederal Home Loan Bank. Lender shall apply ihe
<br />Funds to pay the Escrow Ttema. Lei�dcr may not charge Borrower for holciix�g and applyii7g the Funds, annually
<br />analyzing the escrow accounC, or verifyi��g the Hscrow ftcros, unless Lender pays Borrower interest on the Funds
<br />and Applicable Law perniits l,ender to make tiuch a charge. However, Lender may require Borrower to pay a one-
<br />time charge for an independenc real esiate tax reporting service used by Lender in connection with this loan, unless
<br />Applicable I,aw providcs otherwise. Unless an agreement is made or Applicable I.,aw requires interest to be paid,
<br />I.,ender shall not be required to pay Borrower any interesC or earnings on ilie Funds. Bon�ower and I..ender may
<br />agree in writing, howeve:r, that interest sl�all be paid on the Funds. C..ender shall give to Borrower, without charge,
<br />an annual accoux�ting of the Funds, showing credits and debits to the Funds and the purpose for which each debit to
<br />the Funds wa5 made. '1'1�e Funds are pledged as additional security for all sums secured by fhis Security Instrument.
<br />If Qie }�tu�ds held by Lender cxceed tlie arnou�itti permitted to be held by Applicable I.,aw, Lender shall acc�unt to
<br />13orrower for the exce:�s Funds in a�cordance with the requirernents of Applicable C_aw. If the amount of fhe Funds
<br />held by Lender at any time is not suffiicient to pay the �:scrow ltems when due, Lender may so notify f3orrower in
<br />writing, and, in such case Borrower shall pay to Lender the amount necessary to make up the deficiency. I3orrower
<br />shall make up ihe deliciency in no more than twc:lve monthly payments, at Lender'S sole discretion.
<br />Upon payment in tull of all sums secured by this 5ecurity Instrument, Lender s1ia11 prompfly retiund to Barrower
<br />any Funds held by [,ender. If, undcr the sectic�n titled Acceleration; Remedies, Lender shall acquire c>r sell the
<br />Property, Lender, prior io fhe acquisition or sale of the Property, ahall apply ai7y Funds li�ld by Lender aC the time
<br />of acquisition or sale as a credit a�;ainst the sums secured 6y the Security Instrument.
<br />Application of Payments. lJnlcss Applicable Law provides otherwisc, all payments received by Lender shall be
<br />applied: first, to any prepayment char�;es due unde:r the Note; 5econd, to amounts payable under the section titled
<br />Funds for Taxes and Insurance; third, to interest due; fourth, Co principal due; and last, to any late charges due
<br />under the Note.
<br />Cl�ar�;es; Liens. Borrower shall pay all taxes, asses5ments, charges, tines and im�ositions attributable to tlie
<br />I'roperty which may a[lain priority over cliis Security lnstrument, and leasehold payrnents or bround rents, if any.
<br />I3on shall �ay tl�ese obli�ations in the manner provided in tiuction titled w u��ds for Taxes and Insurance, or
<br />if noL paid in that manner, Bo�7�ower shall p�y tl�em on time directly to the person owed payment. At the request of
<br />Lender, k3orrower shall promptly liirnish to I..ender receipts evidencing che paymenCs.
<br />Borrower sh�ll prornptly diticharge any lien which has priority over tliis Security InsCr�rment unless Borrower: (a)
<br />agrees in ��riting to lhe payinent of the oUligakion secured by the tien in a manner acceptable to T�ender; (b)
<br />contests in good faith the licn by, or defendti against enforcemcnt oF the lien iii, legal proceedings which in the
<br />C.�cnder's opinion operale to prevent thc enforcement c�f the lien; or (c) secures fi the liolder c�f Che lien an
<br />abreanenl satisfactory to Lender subordinating the lien to this Security Instnu��ent. If Lender determine5 that any
<br />part of the Property is sub_ject tn a lien which may attain priority over this SecuriCy lnstrument, Lender may give
<br />Borrower a notice identifying the lien. Borrower shall satisf'y the lien or take one c�r more of the actions set f'orth
<br />abov� within 10 days c�f fhe giving of notice.
<br />Tlazard or Yruperty insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br />Yroperty insured againtit loss by fire, hazards included within the term "extended coverage" and any other hazards,
<br />includi»� floods or tlooding, for which C.,ender requires insurance. This insurance shall be maintained in the
<br />amounts and for the periods that Lender reyuires. The insurance carrier providing the i�isurancc shall be chosen by
<br />Borrower Subject to Lender's approval wl�ich shall not be unreasonably withheld. if I3orrawer fails to maintain
<br />coverage described above, Lender may, at C�ender's option, obtain coverage to protect Lender'S rights in the
<br />Property in accordancc with section titled Prateclion of I.,ender's Rights in the Property.
<br />All in5urance policies and renewal5 shall Ue acceptable to Lender and shall include a standard mortgage clause.
<br />l.ender tihall have the right t� hold the policies and renewalti. If Lender requires, Borrower shall prornptly give to
<br />Lender all receipts of paid premiurns and renewal natices. In the event of losa, Borrower shall give �rom�t notice
<br />to the insurance ca�ier and I.,ender. Lender may make proof of loss if not made promptly by Borr
<br />LJnlcss i..ender ai7d Borrower otherwise a�;ree iii writin�;, insurance proceeds shaIl be applied to r�storation or
<br />repair oP tl�e Property daniagcd, iF tl�e restoration or repair is econouiically feasible and C_ender's security is not
<br />lessened. If tl�e restoration or repair is not economically feasible or Lender's secarity would be le5sened, tlie
<br />insurance proceeds shall be applied Co t17e sums secured by this Security Instnxment, whether or not then due, with
<br />any excess paid to Borrower. If Borrawer abandons the Property, or d�>es not an5wer within the number af days
<br />prescribed by Applicahle Law as set forth in a notic� frorn Lender to Borrower that th� insurance carrier has
<br />�i'� 2004-2010 Cmnplinnr.e Syale�ns, Inc. liki(113-9i�A2 - 2010.03378 �
<br />Cunsumnr Real F{sia�e - Seciirity Insirumcnt llL203fi 1'a�;c 2 of 6 � www.complitmce5yslert�s.cum
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