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20�107151
<br />sha11 fo all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase
<br />"coven t and agreement" is used in 5ection 9. If Borrower is obligated to pay Escrow Items directly, pursuant to
<br />a waive , and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section
<br />9 and p y such amount and Bonower sha11 then be obligated under Section 9 to repay to Lender any such amount.
<br />Lender y revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section
<br />15 and, upon such revocation, Borrower sha11 pay to Lender a11 Funds, and in such amounts, that aze then required
<br />under 's Section 3.
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<br />nder may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds
<br />ne specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA.
<br />sha11 estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures
<br />� Escrow Items or otherwise in accordance with Applicable Law.
<br />ie Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or
<br />ncluding Lender, if Lender is an institution whose deposits aze so insured) or in any Federal Home Loan
<br />.ender sha11 apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender
<br />t charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying
<br />•ow Items, unless Lender pays Bonower interest on the Funds and Applicable L.aw permits Lender to make
<br />harge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds,
<br />sha11 not be required to pay Borrower any interest or earnings on the Funds. Bonower and Lender can agree
<br />ng, however, that interest sha11 be paid on the Funds. Lender sha11 give to Borrower, without charge, an
<br />�ccounting of the Funds as required by RESPA.
<br />there is a surplus of Funds held in escrow, as defined under RESPA, Lender sha11 account to Borrower for
<br />ss funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA,
<br />sha11 notify Borrower as required by RESPA, and Borrower sha11 pay to Lender the amount necessary to maka
<br />hortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of
<br />�eld in escrow, as defined under RESPA, Lender sha11 notify Borrower as required by RESPA, and Borrower
<br />y to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than
<br />thly payments.
<br />�on payment in full of a11 sums secured by this Security Instrument, Lender shall promptly refund to Bonower
<br />ids held by Lender.
<br />Charges; Liens. Borrower sha11 pay all taxes, assessments, charges, fines, and impositions attributable to
<br />perty which can attain priority over this Security Instrument, leasehold payments or ground rents on the
<br />y, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items
<br />°ow Items, Borrower sha11 pay them in the manner provided in Section 3.
<br />�rrower sha11 promptly discharge any lien which has priority over this Security Instrument unless Bonower:
<br />es in writing to the payment of the obligation secured by the lien in a manner acceptable to L,ender, but only
<br />as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against
<br />ment of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien
<br />iose proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder
<br />�ien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender
<br />nes that any part of the Property is subject to a lien which can attain priority over this Security Instrument,
<br />may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given,
<br />er sha11 satisfy the lien or take one or more of the actions set forth above in this Section 4.
<br />;nder may require Borrower to pay a one-time charge for a real estate ta�c verification and/or reporting service
<br />Lender in connection with this L,oan.
<br />Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br />y insured against loss by fire, hazards included within the term "extended coverage," and any other hazards
<br />ig, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be
<br />ned in the amounts (including deductible levels) and for the periods that Lender requires. What I,ender
<br />� pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing
<br />rance shall be chosen by Borrower subj�t to Lender's right to disapprove Borrower's choice, which right shall
<br />:xercised unreasonably. Lender may require Borrower to pay, in conn�tion with this Loan, either: (a) a one-
<br />arge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone
<br />nation and certification services and subsequent charges each time remappings or similar changes occur which
<br />bly might affect such determination or certification. Borrower sha11 also be responsible for the payment of
<br />s imposed by the Federal Emergency Management Agency in connection with the review of any flood zone
<br />nation resulting from an objection by Borrower.
<br />Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at
<br />'s option and Borrower's expense. Lender is under no obligation to purchase any particulaz type or amount
<br />.rage. Therefore, such coverage sha11 cover Lender, but might or might not protect Bonower, Borrower's
<br />n the Property, or the contents of the Properly, against any risk, hazard or liability and might provide greater
<br />;r coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so
<br />d might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed
<br />3er under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These
<br />s sha11 bear interest at the Note rate from the date of disbursement and sha11 be payable, with such interest,
<br />otice from Lender to Bonower requesting payment.
<br />11 insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
<br />•ove such policies, sha11 include a standard mortgage clause, and sha11 name Lender as mortgagee and/or as an
<br />Form 3p28 1 /0
<br />le Family--Fannie Mae/Freddie Mac
<br />IFORM INSTRUMEIVT - MERS
<br />Page 4 of 11
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