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20�1�0"7'773 amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Bonower for a delinquent Periodic Payment which includes a suff'icient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late chazge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments sha11 be applied first to any prepayment chazges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. F�nds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Properly, if any; (c) premiums for any and a11 insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Bonower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may requ�re that Community Association Dues, Fees and Assessments, if any, be escrowed by Bonower, and such dues, fees, and assessments shall be an Escrow Item. Bonower shall promptly furnish to Lender a11 notices of amounts to be paid under this Secrion. Bonower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or a11 Escrow Items. Lender may waive Bonower's obligation to pay to L,ender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, sha11 fumish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for a11 purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in 5ection 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Bonower sha11 then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Bonower sha11 pay to L,ender all Funds, and in such aznounts, that aze then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) suff'icient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender sha11 estimate the amount of 1vEB�SKt�I — Single Family — Faanie Mae/Freddie Mec UNIFORM INS�'RUMENT Form 3026 1/0 GCC - G3028-05 (09/01) (Page S of 19) ��