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201103544
<br />I.ender ma , at any time, collect and hold Funds in an amount not to exceed the maximiun amount a lender for a
<br />federally �elated mortgage loan may require for Bonower's escrow account under the federal Rea1 Estate
<br />Settlementl Procedures Act of 1974 as amended from time to time, 12 U.S.C. Section 2601 et seq. ("RESPA"),
<br />unless ano� Applicable Law that applies to the Funds sets a lesser amount. If so, Lender may, at any time,
<br />collect anc( hold Funds in an amouat not to exceed the lesser amount I,ender may estimate the amount of Funds
<br />due on th i basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in
<br />accorda.nc with Applicable Law.
<br />The Fund� shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity
<br />(including'ILender, if Lender is such an institution) or in any Federal Home Loan Bank. Lender shall apply the
<br />Funds to Ray the Escrow Items. Lender may not charge Borrower for holding and applying the Funds, annually
<br />analyzing �he escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds
<br />and Applicable Law permits Lender to make such a charge. However, Lender may require Borrower to pay a one-
<br />time chazge foz an independent rea1 estate tax reporting service used by Lender in connection with this loan, unless
<br />Applicable Law provides otherwise. Unless an agreement is made or Applicable Law requires interest to be paid,
<br />I,ender shall not be required to pay Bonower any interest or earnings on the Funds. Borrower and Lender may
<br />agree in writing, however, that interest shall be paid on the Funds. I,ender sha11 give to Bonower, without charge,
<br />an annual accounting of the Fuads, showing credits and debits to the Funds and the purpose for which each debit to
<br />the Funds was made. The Funds are pledged as additional security for a11 sums secured by this Security Instrument.
<br />If the Funds held by Lender exceed the amounts permitted to be held by Applicable Law, I,ender shall account to
<br />Borrower for the excess Funds in accordance with the requirements of Applicable Law. If the amount of the Funds
<br />held by Lender at any �ime is not sufficient to pay the Escrow Items when due, Lender may so notify Borrower in
<br />writing, and, in such case Borrower shall pay to Lender the amount necessary to make up the deficiency. Bonower
<br />shall make up the deficiency in no more than twelve monthly payments, at Lender's sole discretion.
<br />Upon pay�aent in full of all sums secured by this Security Instrument, Lender shall promptly refuad to Borrower
<br />any Funds held by Lender. If, under the section titled Acceleration; Remedies, Lender shall acquire or sell the
<br />Property, der, prior to the acquisition or sale of the Property, shall apply any Funds held by Lender at the time
<br />of acquisi on or sale as a credit against the sums secured by the Security Instrumen�
<br />Applicati n of Payments. Unless Applic�bla Law provides otherwise, atl payments received by Lender shall be
<br />applied: t, to any prepayment charges due under the Note; second, to amounts payable under the section titled
<br />Funds fo I Taxes and Insarance; third, to interest due; fourth, to principal due; and last, to any late charges due
<br />under the 1Vote.
<br />Charges; Z.iens. Borrower shall pay all taxes, assessments, charges, fines and impositions attn'butable to the
<br />Property wluch may attain priority over this Secusity Instrument, and leasehold payments or ground reats, if any.
<br />Borrower sl2all pay these obligations in the manner provided in section titled Fnnds for Tages and Insurance, or
<br />if not paid in that manner, Bonower shall pay them on time direcfly to the person owed paymen� At the request of
<br />Lender, Borrower shall promptly furnish to Lender receipts evidencing the payments.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Bonower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)
<br />contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings which in the
<br />Lender's opinion operate to prevent the enforcement of the Iien; or (c) secures from the holder of the lien an
<br />agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any
<br />part of the, Property is subject to a lien which may attain priority over this Security Instiument, Lender may give
<br />Borrower a notice idenrifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth
<br />above within 10 days of the givittg of notice.
<br />Hazard o� Property Insurance. Borrower shall keep the iuzprovements now existing or hereafter erected on the
<br />Property ' ed against loss by fire, hazards included within the term "extended coverage" and any other hazards,
<br />including�oods or flooding, for which Lender requires insurance. This insurance shall be maintained in the
<br />amounts ' d for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by
<br />Bonower' bject to Lender's approval which s�all not be unreasonably withheld. If Borrower fails to maintain
<br />coverage �; escnbed above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the
<br />Property ii!1 accordance with section titled Protection of Lender's Righta in the Property.
<br />All insurazice policies and renewals shall be acceptable to L,ender and shalt include a standard mortgage clause.
<br />Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to
<br />Lender all receipts of paid premiums and renewal notices. In the event of loss, Bortower shall give prompt notice
<br />to the insurance caxrier and Lender. Lender may make proof of loss if not made promptly by Borrower.
<br />Unless Lender aad Bonower otherwise agree in writing, insurance proceeds shall be applied ta restoration or
<br />repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not
<br />lassened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the
<br />insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with
<br />any excess paid to Borrower. If Borrower abandons the Properiy, or does not answer within the nwnber of days
<br />prescribed by Applicable Iaw as set forth in a notice from Lender to Bonower tbat the insurance carrier has
<br />offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or
<br />restore the Properiy or to pay sums secured by this Security Ittstrument, whetlier or not then due. The period of
<br />time for Borrower to answer as set forth in the notice will begin when the notice is given.
<br />� aooa-zoio co�u� s Inc. EEU&158A- 2010,03378
<br />Con9oma Real E�tate - Secmity Iffiuvment DL2036 Pege 2 of 6 �..�p��t�,�
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