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<br />pravide receipts shall for all purposas he deemed ta be a covenant and agreement contained in this Secuxity
<br />Cnstrument, as the phrase "covenant and agreement" is used in Section 9. If l3orrower is ohligated ta pay Escrow
<br />Items directly, pursuant to a waiver, and Borrovver fails to pay the aznount due for an Escrow Ttezn, Lender may
<br />exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Scction 9 to
<br />repay to Lender any such azxlount. Lender may revoke the waiver as to any or all F•scrow Items at any time by a
<br />notice given in accordance with Section 15 and, upon such xevocation, Borrower shall pay Co Lender all Funds, and
<br />in suck� arnounts, that are then xequired under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amouz�t (a) sufficient to permit Lender tv apply the
<br />�'unds at the time specified under 1tESPA, and (b) not to exceed the zx�aximum amount a lender can require under
<br />RESPA. Lender shal� estimate the amount of �unds due on the basis of current data and reasonable estitnates of
<br />expenditures of futuxe Escrow Ttems or otherwise in accordance with Applicable �,aw.
<br />'I'he Punds sha�l be held in an institution r�vhose deposits are insured by a federal agency, instrumentality, nr en�ity
<br />(including Lender, if Lender is an institukion whose deposits are so insured) or in any Federal Home Laan Bank. Lendez' shall
<br />apply t.l�e Funds to pay the $scrow Items no later than the time specifiec� under RESI'A. Lender shall not ctiarge Bonower for
<br />holding and applying tlae Funels, annually analyzing the escrovv account, ar verifying the �.scrow Items, wxless T,eilder pays
<br />Borrower izxterest on the Funds and Applicable I,aw perxx�its T,ender to make such a charge. Unless an agreeznent is made in
<br />writing or Applicable Law tequires interest to be paid on the Funds, Lender sha11 not b� required to pay Borrower any interest
<br />or �lrnuigs on the Funds. Borrower and Lender can agree izz writing, however, that interest shall be paid on the Funds. Lender
<br />sl�ll give to Borrower, without charge, an annual accounring of the Funds as required by RESPA.
<br />If tlaere is a surplus of Punds held in escrow, as de�"med under RESPA, Lender shall accnunt to Borrower for the
<br />excess fimds �in accordance with RESPA. If there is a shortage of �'unds held in escrow, as de�ned under RESPA, T.ender
<br />shall notify Borrower as �equired by RESPA, and Borrower shall pay to Lender the amount necessary ta make up t�e
<br />shartage in accordance with RESFA, but in no mo�re than 12 manthly payments. Tf there is a deficiency of Funds held 'u�
<br />escrow, as deiined under RES�A, Lendez shall notify Borrower as required by RESPA, and Bozzower shall pay to Lender the
<br />amount necessary to ma�Ce up the deficiency in accoxdance ve�ith RESP�., but in no mare tkzan 12 monthly payzz�ents.
<br />Upon paytzient in full of all sums secured by this Security Instxutz�ent, T,eiader shall promptly refund to
<br />Borrower any �unds held by Lender.
<br />4. Charges; �iens. Boxrawer shall pay all taxes, assessments, cl�arges, fines, and impositions attributable to
<br />the Properiy which cati attain priority ovet this 5ecuxity Instrument, leasehold payxnents or gxound xe�ts on the
<br />Froperty, if any, and Community Association Dues, Fees, and Assessments, if any. To the axtent that tbese items are
<br />Escrow Items, Boz'tower sha�l pay them in the mantier pxovided in Section 3.
<br />Bo�rcower shall prompdy discharge any lien whick► has priority over this Securiry Ins�urzaent unless Bonrower: (a)
<br />agrees in writin� to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as
<br />Borrower is perfornung such agreement; (b) contests the lien in gaod faith by, ox defends agaix�st enforcement of the lien
<br />in, legal proceedings which in Lender's opiruon operate to prevent the enforccment of the lien while those proceedings are
<br />pending, but only until such proceedings are concluded; or (c) secures fram the holder of the lien an agreement satisfactory
<br />to Lender su}�oxdinating tlxe lien to t1�is Security Instrument, ;If Lender deternzines that any part of the Propez'ty is subject to
<br />a lien which can atCain priority over this Security Inshument, Lendcr may give Bonower a notice identifying the ]ien.
<br />Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actaons
<br />set forth above in Chis Section 4.
<br />Lender may require Borrowez to pay a one�tirne charge for a real estace tax veri�cation and/or raporting
<br />service usad by Lender in connection with this Loan.
<br />5. Property Insuraqce. Bonrower shall keep the improvements now existing or hereafter erected an the
<br />Property insured against loss hy Gze, hazards included within the tezan "extended coverage," and any other ha�axds
<br />inclttding, but not limited to, earthquakes and floods, for which Lender requues insuu'ance. This insurance shall be
<br />nnaintained in the amounts (including deductible levels) and for the peripds that Lender requires. Wklat Lender
<br />reyuires pursuant to the preceding sent�nces can change during the texm of the Loan. The insurance carrier
<br />providing the inswrance shall be chosen by �orrower subjecC to Lendet's right to disapprove }3orrower's choice,
<br />which riglat shall noi be exercised unreasonably. Lender may requiare Borrower to pay, in connection with tixis Loan,
<br />NTBTtASKA--Single Family--�'annie Mae/Freddie Mac LJNIE'ORM AVSTRUMENT Form 3028 1/Ol (page 5 of 14 pages)
<br />GV2023.HP
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