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201107752
<br /> Any applica[ion of pnymenfs, insutauce prooeeds, or Miscellaueous Prooeeds to prinoipal duo under fl�e Note
<br /> s1�a11 not extend or poetpone the clue date, �r clTange 11ie amount, of tl�e Periodio Payments.
<br /> 3. Ftmds for�serow Itents. Borrower al�all pay to Lender on the deiy Pc�riodic Payments are duc under the
<br /> Note, Ltntil tl�e Note is paid in full, ¢eum(ihe"Fur�ds") to provide for payment of amounta due for: (a) tases
<br /> wci asscssn�cnts and othcr items which can attain priority ovcr Ehis Seciirity InsteumenE as a lien or
<br /> encumbranoa on Che Proper�y; (b)Ieaseliold payinents or groimd rents on tlie ProparCy, if any; (c) pretniume �
<br /> for aziy�nd all insuxance required l�y Lo�lder under Section S; and(d) Mortgage Insuranee premiums,if any,
<br /> or any aums pA,ynble by Borrower �o Leniler in lietii of the paymenC of Nlor[gage Tnsurnnoe preminms in
<br /> accordance with the provisions of Section ]0. 'ihcso items ate enlled "L+scrow Ifems." At ariginatiov or af
<br /> any trmo during the tenn of the Loan, Lenclet may require diat Commlinity Association Dues, Fees, and
<br /> AssessmeuYs, if any, be esorowed by Borrower, and sueh dnes, fees and assessments sh111 be an Escrow
<br /> Item. Ronower sha11 promptlg fumish to Lendcr a11 notices of'amounts Io be paid wider this Section.
<br /> 13orrowcr sl�all pay Lendcr the F'uuds 'Por L�scrow Items uvless i,ender wttives 13utr��wor's oUligaCion to p1y
<br /> the Punds £or nny or all L+scrow Itotns. I,ender viay w�ive Borrowor's obligAEion to pay to Lendor Punds Por
<br /> any or a11 Escrow ICems at any time. Any ,�uch �vaiver may only 6e iu wriCing_ In the event of such wxiver,
<br /> Bon ower ehall pay directly, when and w�here payablc, fl�e amounts clue for any Escrow Items for which
<br /> payn�enf of Punds has Ucon waived by Lander and, if Lendor rcqniras, shall fitrnish to Lcnder receipts
<br /> evidencing Fuoh paymerit within such tiine period as Lender n�ay require.Borrower's obligation to make
<br /> such payments and to provide a�ccc+pts shall For all piuposes he deoi��cd to Ue a covenant and agrecmcnt
<br /> contained in this Security Insa•umenh, as thc phrase "covenant aud ngreement" i�used in Section 9. IP
<br /> Borrower is obligated to pay Escrow Ilems directly, pursuant Co a waiver, nnci Borrower fails to pAy tffe
<br /> amonnl ciuc for an Escrow [tcm, Lender may exercise its iights under Section 9 and pay sucl� amounti aaid
<br /> Borrowar shn11 tlien he obligatec{undar 3ection 9 to repay Yo Lencler any si�ch a�nount. Lender may rcvoke
<br /> El�c waiver as to any or all Escrow Iten�is at any timo by a notice given in aowrdanoe wiCh Seetion 15 tuici,
<br /> upou snch rcvocatinn, Be�rrower shall pay to Lender all Punds, aud in such nmounfs, that ar-c theu required
<br /> imder this Section 3.
<br /> Leuder mflg, at any time, collec;t and liold Ftmds in an nn7ount(a) sufficient to permit Lender to apply tlie
<br /> Fands at the Eime speoified nnder RESP/�, and(b) not to exceed �he maxiruimi tunount a lender can require
<br /> under RESPA. Lender shall estimate chc amount of Funds dne on the baeis of current claYa and reasovaUle
<br /> estiinntea oL e.xpeudituroe of futare Lacrow Iteme or othertvise in accordauce witk Applicable Law.
<br /> Tkie Funcia ehall bc hcld in au iiLSCit�ttion w�hose deposits are intiured by a federal agency,instrumenYality, or
<br /> entiYy (including Lender, if Leudcr is xn instihiTion whose depoaifs are so insured) or iu any Pederal Hoine
<br /> l�oan i3ank. Lender she�ll a�pply the Pnnds lo pay t7�c F,scrow Itams no later Chan tl�e time specified under �
<br /> RESPA. Lendcr ehall not charge Borrower for l�olding and applyiug Uie Funda, annually analyzing Y1ie
<br /> escrow uccount, or verifyiug khc Encrow ICems, unleas Lender p�ye Borrower inCerest on Lhe b'nude and
<br /> ApplioaUle Law permits Lender to m�ke s�iol� a oharge. Unlass an ngreement+s mada in wriung or
<br /> Applicable Law reRuires interest ta be paid on Lhe Funds,I,ender shnll not l�e required to pay Borrower any
<br /> intereat�or oamings on tl�c Funds. Borrow�er and Lender can agrea in writing, however, t11at n�terest shall be
<br /> pud on the Funds. Lender shall give to Borrower, without chargq an annual aceouu6ing of tho Fmids as
<br /> raquired by RCSPA.
<br /> If there is a surphis af Punds held iir oscrow, as defuied tuider RL SPA, l,ender shell acaounl to Borrower Por
<br /> fl�o cxoess fiulds in accordance with RL�SPA. If Chcrc is a shortaga of L�nnds held in esciow, as defined uncier
<br /> RIISPA, l,encier sl�all notify Sonnwer as requieecl by liLSPA, and Borrower ahnll pay r��Lender the amoun4
<br /> necessary Yo inake np tlie sl�ortage in accordanoe witli RESPA, bnt iu no mm�e than 12 monthly�aymeuts. If
<br /> cl�erc is a defioienoy of Funds held in escrow, as dcfined under RESPA, Lencicr sha11 noCiPy Borrower as
<br /> 2aqist
<br /> N[PRASI(A-Sinple Family-Fannle Idae/Fretldie Mec 11NIFORM INSTRUMf:NT Porm 3020 1/01
<br /> VMP n VMP6(NE)f11�6)
<br /> Woltere Kluwe�Finenoiel Sarvlaes Page5 of 17
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