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. , � . 201108366
<br /> LOAN �s ?879965
<br /> 2. Application ot Payments or Rroceeds.Except as athervuise described in this Section 2,aft
<br /> paymerats accepted and applied by Lender shali beapplied in the following acder of priori#y:(a)irtterESt
<br /> due�nder#he Plote;(b)principa!dueundertheNote;{c)amovnts dueanderSectior+3.Strch payments
<br /> shalt be applied to each Periodic Payment in the order in which ii becarne due.Any remainfng amounts
<br /> sha#I be applied first to fate charges,secand Fo any at#teF amottnts due under Ehis Seetrrify#rtstrument,
<br /> and then to xeduce the principal balance fl#!he NoYe.
<br /> If Lenc#er reeeives a paymeeraf#ror�Borra�ver for a deNnque�t Periadic Payrnent whict�inclwdes a
<br /> sufFcient amounf to pay any late charge due,fhe payment may be applied to the delinquent paymenf
<br /> ar�d the la#e charge.lf more tha�one Periodic Paymer�t isou#sta�ding,Le�der maY aPPRY�Y p�Ymet�t
<br /> received fr9m Borrower to#he repayrr�ent of the Periodic Pay�nen#s i#,and to##ae exten#ihat,each
<br /> payra��t aan be paid in iutl.To fhe sxtent ihat any excess e�sfs aRer ths payment is applied#fl#he iull
<br /> paymentotoneorrt�ore Periodic Payments,such excessmaybeappliedtaatiy latecharges due.Voluntasy
<br /> PFepaY�nen�s shhal�1�e apptied fi�st ta a►�Y pE'epaY�t charges arx4 then as described i�the t�bte.
<br /> �Y aARlicativn o#paymenis,it�surarrce proceeds,or M1AiscaAaneaus Pfoc$eds to peittcipal due ur�der
<br /> the Note shaN not extend or pns�t�ne 1he due date>or c�ange Tl�e amo�tt,t�f�e Periodic Payments.
<br /> 3. Fu�ds for Escrow Ifems.Borcc�ver shaii pay to Lender an the day Periodic Paymenis are due
<br /> under the Note,�nt8 the Note is paid in fu1F,a surn{the"Funds"}#o provide for payment o#amotrr�ts ctue
<br /> for:(a)ta�ces and assessmen#s and trt�er items whicM can attain prioeiiy over this SsCUrrty lnstcament
<br /> as a fien or encumbrance on the Property;j#)leasehold payman�s ar grount�ren#s r>n the i'ropeRy,ii
<br /> any; (c}premiums for any and ali insurartce required by Lender uncter Sectiorc 5;and(d� Mortgage
<br /> �nsararrce Esremiums, if any,or arry sums payabie by Sarrawer to tender in tieu ofi the payment of
<br /> Mortgage Insurance premiums in accorda�cewiltt#fle provisions of Section i 0.Theseitems are cailed
<br /> "Escrow iterns.'At originafiorl�sr a#arty time during t1�#erm ai ih�Loan,t2rt�er may reqt�ire ihat
<br /> Carrtmunity Association Ques,Fees,and Assessments,if any,be eserc�uvecP by 8orrawer,and sach
<br /> dues,fees and assessments shaN be an fscrow ttem.8orrowee shalF pfomptly furnish to tender aN
<br /> notices of amoeants#obe paid ur�derthisSection.Bcjrrowershall pap Lender#hefundsfor Escrnwftems
<br /> �nless Lender►nrai�+es 8orrower's�bG�a�ion#o pay tt3e Funds for any or a14 Escrow dtems.Lender rr�ay
<br /> waiue Borrower's obligati�n tn pay ta Lendec Funds for any or aN Escrnu�ltems ai any ti+ne.Any such
<br /> waiver may oMy be in writing.In tpe event a#se.�ch wai�rer,Borrower sf�all pay direc#ly,when and where
<br /> payable,iheamou�ts due#or a►ay Escrow Iterr�sfor which paymeniof f�nds has been uraived bylender
<br /> and,if Lensler requires,shal!turnis#�to Lensler r�eipts ev�ncing suc4a payment within sucM#ime
<br /> period as Lender may require.Barrower's obiiga#ion ta make such paymenis and to provide recei{�#s
<br /> shall torall purposes be deemed to bea covec�antand agreemeniaor+#ained in thisSecurtty Instrument,
<br /> as the�hrase"covenant and agreer��en#"is used in Section 9,�f B+orrower is oWiga#ed#o pay Escraw
<br /> �#emsdirecily,pursuan#toawaiver,ar�d BorrawerfaNs topaytheamount dueforan�scrow Item,Lender
<br /> may exereise its righis t�nder Section 9 and pa}�such emouRt and Borrawer sha�then be obiigated
<br /> under Section 9 to repay to L�der any such amoranf.Lender may revoke the waiver as to any or atl
<br /> Escrow Items at any time by a na#ice given in accrndancewith Seetion 9 S and,Upan such revocatiarr,
<br /> 8orrower shall pay to tender atl Pands,and in such amounYs,tha#are�en requ'ved unelerihis S�ction 3.
<br /> Lender rttay,at any time,coilect and hoid Funds in anamount(a)suffieierit#o permiELenderto appiy
<br /> the Funds at the time specified under RESPA,and{bj not to exaeed fhe ma�irrium arnourfia tendercan
<br /> require under RESPA.Lentier sha+l estimate 4he amoun#of Funds due onthe basis of current data and
<br /> reasonable estimates of e�cpenditures o# tuture �scrow ltems or othertwise 9n accordanee with
<br /> Appticabte Law.
<br /> The Funds shatk be held in an institcttion whose depcuits are iasured by a federat ageney,
<br /> insNurnentality,or en#ity{ir�cluding iender,if Lender is an institution wF�ose deposits ar�so insured)or
<br /> in any Fecierai Horne Loan Bank.Lender shall appiy the�unds io pay flae Escrow Items no later than
<br /> the time specifiec!under RESPR.Lender shall noicharge Borrovuer for hnldi�g and applying the Funds,
<br /> artnually analy�i�g the escrow account,or verifying the Escrow ltems,unl�s Lender pays Borrower
<br /> interpston il�e Funds and Appkcahle Law permiLsl�nder io makesuch a char�e.Unless an�greemen#
<br /> is made in wfiting w Applicable Law requires interest to be paid un the Funds,Lender shatt not be
<br /> required to pay Borrower any interes#Qr earni�►gs on the Fu�cis.BorraFVer and Le�der can ayree in
<br /> writing,however,thaY interestskaalt be paid on Ehe Eunds.Lender shaU give fo Borro�,rer,Mritbout eharge,
<br /> an annual accounting o#t#�e Funds�s required by RESPA.
<br /> #fihereisasurplusofFundsheidinescravu asde�edunderRESPA,Lendershailarxountto�orrower
<br /> for the excess fur�ds�accordance witts REBPA.fE there is a shortage of Fkincls helt!in escrowt,as deitted
<br /> under RESPA,LertBer shalt rtotiTyr 8onower as required by R€S#'A,�k Baemwer sha�pay ta Lender the
<br /> amnunt necessary to make up tMe shortage in accorr�ance with RESPA,bwt in no more ihan 12�ronthty
<br /> payments.�t#�ere is a defiaency of funds tiek!in escr�v,as defined under RESPA,ic�nder shalt rrolity
<br /> Borrower as required by RESFR,and Borrower shatf pay to Lender the amourst necessaryto make up the
<br /> deficieney ir�aceordanee w�ittt RESPA,bat in na marethan i2 mextfhiy payments.
<br /> Upor�payment in fiuli ofall sur�s secured by tt�is Security instrumerrt,Lender shall promptly refiund
<br /> to Barrower any Fu�ds held by tender.
<br /> 4. Charges;!lens.Barrower sttaff Ray aiE ta�ces,assessnaents,aharges,#ines,and impositiotts
<br /> a�trilwiable ta ihe Proper[y which can attain priorityover this S��arity tnstrumeflt,#easeFf paymer�ts
<br /> iaitialss
<br /> fJE8RA5KA-Single famiy-Farmla#Ilag/Frstldie Mac�JNtFt3RM INSTRUMEMT form 9628�lII1
<br /> Online�ocuments,Inc. PegB 4 Of 11 NEEDEED 1108
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