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Doo Ill #:xxxxxxxxx647
<br />Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless Lender and
<br />Borrower agree in writing or Applicable Law requires int ' crest to be paid on the Funds, Lender will not be required to pay
<br />Borrower any interest or earnings on the Funds. Lender will give to Borrower, without charge, an annual accounting of the
<br />Funds as required by RESPA.
<br />(d) Surplus; Shortage and Deficiency of Funds. In accordance with RESPA, if there is a surplus of Funds held in
<br />escrow, Lender will account to Borrower for such surplus. If Borrower's Periodic Payment is delinquent by more than 30 days,
<br />Lender may retain the surplus in the escrow account for the payment of the Escrow Items. If there is a shortage or deficiency of
<br />Funds held in escrow, Lender will notify Borrower and Borrower will pay to Lender the amount necessary to make up the
<br />shortage or deficiency in accordance with RESPA.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender will promptly refund to Borrower any
<br />Funds held by Lender.
<br />4. Charges; Liens. Borrower must pay (a) all taxes, assessments, charges, fines, and impositions attributable to the
<br />Property which have priority or may attain priority over this Security Instrument, (b) leasehold payments or ground rents on the
<br />Property, if any, and (c) Community Association Dues, Fees, and Assessments, if any. If any of these items are Escrow Items,
<br />Borrower will pay them in the manner provided in Section 3.
<br />Borrower must promptly discharge any lien that has priority or may attain priority over this Security Instrument unless
<br />Borrower: (aa) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only
<br />so long as Borrower is performing under such agreement; (bb) contests the lien in good faith by, or defends against
<br />enforcement of the lien in, legal proceedings which Lender determines, in its sole discretion, operate to prevent the
<br />enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (cc) secures
<br />from the holder of the lien an agreement satisfactory to Lender that subordinates the lien to this Security Instrument
<br />(collectively, the "Required Actions"). If Lender detennines that any part of the Property is subject to a lien that has priority or
<br />may attain priority over this Security Instrument and Borrower has not taken any of the; Required Actions in regard to such lien,
<br />Lender may give Borrower a notice identifying the lien. Within 10 days after the date on which that notice is given, Borrower
<br />must satisfy the lien or take one or more of the Required Actions,
<br />5. Property Insurance,
<br />(a) Insurance Requirement; Coverages. Borrower must keep the improvements now existing or subsequently
<br />erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other
<br />hazards including, but not limited to, earthquakes, winds, and floods, for which Lender requires insurance, Borrower must
<br />maintain the types of insurance Lender requires in the amounts (including deductible levels) and for the periods that Lender
<br />requires, What Lender requires pursuant to the preceding sentences can change during the term of the Loan, and may exceed
<br />any minimum coverage required by Applicable Law. Borrower may choose the insurance carrier providing the insurance,
<br />subject to Lender's right to disapprove Borrower's choice, which right will not be exercised unreasonably.
<br />(b) Failure to Maintain Insurance. If Lender has a reasonable basis to believe that Borrower has failed to maintain
<br />any of the required insurance coverages described above, Lender may obtain insurance coverage, at Lender's option and at
<br />Borrower's expense, Unless required by Applicable Law, Lender is under no obligation to advance premiums for, or to seek to
<br />reinstate, any prior lapsed coverage obtained by Borrower. Lender is under no obligation to purchase any particular type or
<br />amount of coverage and may select the provider of such insurance in its sole discretion. Before purchasing such coverage,
<br />Lender will notify Borrower if required to do so under Applicable Law. Any such coverage will insure Lender, but might not
<br />protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard, or liability and
<br />might provide greater or lesser coverage than was previously in effect, but not exceeding the coverage required under Section
<br />5(a), Borrower acknowledges that the cost of the insurance coverage so obtained may significantly exceed the cost of insurance
<br />that Borrower could have obtained. Any amounts disbursed by Lender for costs associated with reinstating Borrower's
<br />insurance policy or with placing new insurance under this Section 5 will become additional debt of Borrower secured by this
<br />Security Instrument. These amounts will bear interest at the Note rate from the date of disbursement and will be payable, with
<br />such interest, upon notice from Lender to Borrower requesting payment,
<br />(c) Insurance Policies. All insurance policies required by Lender and renewals of such policies: (i) will be subject to
<br />Lender's right to disapprove such policies; (ii) must include a standard mortgage clause; and (iii) must name Lender as
<br />CALIFORNIA—Single Family—Fannie Mae/Freddie Mae UNIFORM INSTRUMENT Form 3005 07/2021
<br />CALIFORNIA DEED OF TRUST (SIDOT.CA)
<br />25283.8 (11/22) Page 6 of 17 BANK OF AMERICA, N,A.
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