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�0110�284 amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a suf�icient amount to pay any late charge due, the payment may be applied ta the delinquent payment and the late charge. If mare than one Periodic Payment is autstanding, Lender may apply any payment received from Borrower to the repayment af the Periadic 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 payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied �rst to any prepayment chazges and then as described in the Note. 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 Payments. 3. Ftinds for Escrow Items. Borrower shall pay to J.,ender on the day Periodic Fayments are due under the Note, until the Note is paid in full, a sum (the "Funds") tn pravide for payment of aznounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien ar encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) prerniums for any and all insurance required by I.ender under Section 5; and (d) Mortgage Insurance premiums, if any, or 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 "Escrnw Items." At origination or at any time during the term of the Loan, L,ender may require that Community Association Dues, Fees and Assessments, if any, be escxowed by Borrower, and such dues, fees, and assessments shall be an Escrow Item. Borrower shall procnptly fumish to Lender all notices of amounts to be paid under this Section. Borrower shall pay I.ender the �'unds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Iterns 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 amounts due for any Escraw Items for which payrnent af Funds has been waived by I,ender and, if Lender requires, shall furnish to L.ender receipts evidencing such payment within such time period as I.ender may require. Borrower's abligation to make such payments and to provide receipts shall for all purposes be deemed to be a cavenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Boxrower is obligated to pay Escrow Items directly, pursuant ta a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with 5ection 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) suf�cient Co permit I.ender ta apply the Funds at the time specified under R�SPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estirnate the amount of �8�5� -- Single Family -- Fannfe Mae![�Yeddie Mac l7NIFORM INSTRUMENT Form 3028 - / 1 Y GCC - G3028-OS (09101) (Page 5 of 19) Initials /'