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201107695
<br /> Any application of payments, insurancc proceeds, or Miscellaneous Proceeds to �rincipal due under the Note
<br /> shall npt extend or posCpnne the dae date, or ehange the amount, oF thc Periodic Payments.
<br /> 3. Punds for�scrow Items. Bormwer shall pay lo Lander an the day Periodic Payments are due under the
<br /> No[e, until the Note is paid in full, a sum (the "Funds"} Co provide for payment of amouuYs due for: (a) taxes
<br /> and assessments and otheT items wliich can att�in priority over this Security Instnunent as a lien or
<br /> encumbrance on the Property; (b) leasehold payments c�r gcound rents on th� Property, if any; (c) premiums
<br /> Por any and all insurance required by Lender under Sectiun 5; and (d) Mortgage Insurance premiums, if any,
<br /> or any sums payable by Rorrower fo Lender in lieu of the payment of Mortgage Insurance premiums in
<br /> accordanee with Che provieions oPSection ]0. These iCems are called 'Bscrow ICems." AC origination or ait
<br /> any time during the term of the I,oan, Lender may require that Communiry AssoeiaCion Dues, Rees, and
<br /> Assessments, if any, be cscrowed by Borrower, and such dues, fees and assessments shall Ue an�scrow
<br /> Item. Borrower shall promptly fumish Co I,ender all nofices of amounts to be paid under this SecCion.
<br /> Borrower shall pay Lender Ihe Punds for Escrow Items uoless Lender waives Sorrower's obligation to paiy
<br /> the Funds for nny or all Escrow Items. L,evder may waive Boirower's obligation to pay to Lender F'unds Por
<br /> any or all Escrow ICams at any time. Any such waiver may only be in writing. Iv tl�e event of suel� waiver,
<br /> Boxrawer shall pay directly, when and where payable, the amounCS due for any Escrow Items for whicl�
<br /> payment of Funds has 6een Wvaived by Lender and, iP Lender requires, shall furnish to Lendcr ecceipts
<br /> evidencing sucli payment witliin such tim�period as Lender may require. Borrower's ob]igaGon to maka
<br /> such payments and to provide receipts shall for 211 purposes be deemed to be a covenant and agreeme��t
<br /> contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. IP
<br /> Borrower is obligated to pay Escrow 1Cems direcCly, pursuant to a waiver, and Borrower fails to pay the
<br /> amount due for an Esarow Item, Lenfler may exercise its righes under SeoCion 9 and pay such amount and
<br /> Borrower shall Chen I�e obligaCed under Section 9 to repay Co I.endar any such amount. Lender may revoke
<br /> the waiver as to uiy or all Escrow Items at viy time by a notice given in aecordance with Section 15 and,
<br /> upon such revocation, &orrowex shall pay to Lendet all Funds, and in euch amounts, that axe then required
<br /> under t6is SecCion 3.
<br /> Lender may, aC any t�me, collect and hold Funds in an amount(a) sufficient to permit Lender to a�ply tlie
<br /> Funds at the time speeified under�RESPA, and (b) not Co excced the tnaximum amount u lender c:m require
<br /> under RESPA. Lender shall estimate hhe amount of Funds due on the basis of aurrent daCa and reasonable
<br /> estimates oY expenditures of future Escrow Items or othecwise in ueeorduiee witli Applieable Law.
<br /> The Punds shall be held in ui institution wliose deposits are insured by a federal agency, instrumenta]iCy, or
<br /> entity (including Lender, if Le¢der is au institu[ion whose deposits are so insured) or in any Federal Home
<br /> Loan Bank. Lender shall apply the Funds to pay the Escrow Items no 12ter tliln the time specified under
<br /> RESPA. Lendar shall not charge Sorrower Por holding and applying the Funds, annually analyzing the
<br /> escrow accouvt, or verifying tlie Escrow ICems, unless Lender pays Borrower inCexesC on the Funds and
<br /> A�plicaUle Law yeri�iits Lz�idei to make sucl� a charge. Uuless an agreemenC is made in wri[ing or
<br /> Applicable Law requiees interest to be paid on the Funds, Lender shnll not be required to pay Borrower�ny
<br /> interest or earnings on tha Funds. Borrower and Lendee can agree in wtitin�, however, thnt interest sh�ll be
<br /> paid on tlie Funds, Lender s]�all give to Borrower, wiUiout eharge, an annual accounting oP lhe Funds as
<br /> required by RESPA.
<br /> If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for
<br /> rhe excess funds in accoidance with RESPA. If Chere is a shorCage oP Funds held in escrow, as defined undar
<br /> RESPA, Lender sliall notify Borrower as required by RSSPA, and Borrower shall pay to Lender the amount
<br /> necessary to n�ake up the shoetage in accord.ulce witlt RESPA, but in no more flian 12 monthly paymenCs. IP
<br /> there is a deficiency of Funds held in escrow, as defined under RESPA, Lender sliall notify Borrower as
<br /> aatrss
<br /> NEBPA3KA-SIn91e Famlly-Fernle MaelFreddle Mac UNIFORM INSTFUMENT Ponn 302� 1;01
<br /> VMP Q VMP6MF.��1105)
<br /> Wolmrs Klbwar Finonciel Sorvloos PTtle v ai 1]
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