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<br />premiums, if any, or any sums payable by Barrower to Lender in lieu of the paymenti of Mortgage
<br />Insurance premiums in accordance with the provisians of Section 10. These items are called "Escrow
<br />Items." At oribination or at any time during the term of the Loan, Lender may require that Community
<br />Associarion Dues, Fees, aad Assessments, if any, be escrowed by �aower, and such du�, fees and
<br />ass�sments shall be an Escrow Item Borrower shall promptly fiunish ta Lender a11 notices of amowats to
<br />be paid under this Section. Boaowez shall pay Lender the Funds for Escrow Items unless Lender waives
<br />Borrower's obligation to pay tlxe Funds for any or sIl Escrow Items. Lender may waive �rrower's
<br />obligation to pay to Lender Punds for any or all Escrow Items at any time. Any such waiver may only be
<br />in writing. In the event of such waiver, Borrower shall pay directly, when aad where payaUl�, the amouats
<br />tiue for any Escrow Items £or wluch payment of Funds has been waived by Lender aad, if Lender requix�es,
<br />shall furuish to Lender receipts evidencing such payment wlthin such time period as Lender may require.
<br />Borrower' s obiigation to m�ake such payments and to provide receipts shall for al.l purposes be deemed to
<br />be a covenant and agreement contained in this Security Instrument, as the phrase "covenant aad agreement"
<br />is used in Section 9. If Borrower is obligxted to pay Escrow Items +directly, gursuant to a waiver, and
<br />Bonower fails to pay the amount due for an Escrow Item, Lender may ex�se its rights under Section 9
<br />and pay such amount and Barrower shall then be obligate� under Section 9 to repay to Lender any such
<br />a�nount. I,ender may revoke the waiver as to aay or a11 Escrow Items at any time by a notice given in
<br />accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in
<br />such amounts, that are then requazed under this Section 3.
<br />Lender may, at any time, collect and hold Funds in. an amoimt (a) su�cie�t to permit Lender to apply
<br />the Funds at the time sp�i�'ied under RESPA, and (b) not to exceed the maximum amount a lender cazi
<br />require under RESPA Lender shall estima#e the amount of Funds due on tlie basis of current data aad
<br />re,asonabie estinnates of expenditures of future Escrow Items or otberwise in acr,ordance with Applicable
<br />Law.
<br />The Funds shail be held in an institution whose deposits are insured by a federal agency,
<br />instrumen#aiity, or entity (including Lender, if Lender is an insritution whose deposits are so insure� or in
<br />any Federal Home Loan Bank. Lender shall apply t1�e Funds to pay the Escrow Items no later than the time
<br />specified under RESPA Lender shall not charge Borrower for holding and applying the Funds, anaually
<br />analyzing the escxow accouttt, or verifying the Escrow Items, unless Lender pays Bozrower interest on the
<br />Fuads and Applicable La.w permits Leader to make such a rharge. Unless aa agreement is made in writing
<br />or Applicable Law requires interest to be paid on the Funds, Lender shall. not be xequired to pay Borrower
<br />any ix�tere.st oz earnings on the Funds. Borrower aad Lender caa agre,e in writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to Bonower, without charge, an atmual accountin� of the
<br />Funds as required by RESPA
<br />If there is a surplus of Fwads held in eserow, as defiaed under RESPA, Lender shall account to
<br />Borrower for the �cess funds in accordance with RESPA. If there is a shortage of Funds held in escrow,
<br />as defined under RESPA, Lender shall noti:fy Borrower as re�uired by RBSPA, end Borrower shall pay to
<br />Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more tS�an 12
<br />monthly payments. If thec'e is a deficiency of Funds bield in escrow, as defined undez RESPA, Lender shall
<br />notify Bonower as required by RESPA, and Borrower shall pay to Lea@er the amount necessary to make
<br />up the deficiency in accordance with RESPA, but in no more tliau 12 monthlY Paymemts.
<br />Upon payment i�n full of all sums sec�aed by this Se�urity Instrumeat, Lender shall promptly refuttd
<br />to Boxrower any F�mds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, claarges, fines, and impositions
<br />attnbutable to t]xe Properiy which can atCain priority over this Security Instru�nern, leasahold payments or
<br />ground rents on the ProFertY, if any, aad Community Association Dues, Fees, ffid Assessmen�, if any. To
<br />the extent that these items are Escrow Items, Borrower sI�a11 pay them in the ma�ner provided in Section 3.
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