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the extent that the Borrower makes such payments to the Senior Lien Holder in accordance <br />with the First Deed of Trust. <br />The Funds shall be held in an institution whose deposits are insured by a federal agency, <br />instrumentality, or entity (including Lender, if Lender is such an institution) or in any Federal <br />Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items. Lender may not <br />charge Borrower for holding and applying the Funds, annually analyzing the escrow account, <br />or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and <br />applicable law permits Lender to make such a charge. However, Lender may require <br />Borrower to pay a one-time charge for an independent real estate tax reporting service used <br />by Lender in connection with this loan, unless applicable law provides otherwise. Unless an <br />agreement is made or applicable law requires interest to be paid, Lender shall not be required <br />to pay Borrower any interest or earnings on the Funds. Borrower and Lender may agree in <br />writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, <br />without charge, an annual accounting of the Funds, showing credits and debits to the Funds <br />and the purpose for which each debit to the Funds was made. The Funds are pledged as <br />additional security for all sums secured by this Security Instrument. <br />tD <br />If the Funds held by Lender exceed the amounts permitted to be held by applicable cn <br />law, Lender shall account to Borrower for the excess Funds in accordance with the O <br />requirements of applicable law. If the amount of the Funds held by Lender at any time is not CA <br />sufficient to pay the Escrow Items when due, Lender may so notify Borrower in writing, and ut <br />in such case Borrower shall pay to Lender the amount necessary to make up the deficiency. � <br />CA) <br />Borrower shall make up the deficiency in no more than twelve monthly payments, at Lender's -� <br />sole discretion. <br />Upon payment in full of all sums secured by this Security Instrument, Lender shall <br />promptly refund to Borrower any Funds held by Lender. If, under paragraph 23, Lender shall <br />acquire or sell the Property, Lender, prior to the acquisition or sale of the Property, shall <br />apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums <br />secured by this Security Instrument. <br />3. Application of Payments. Unless applicable law provides otherwise, all <br />payments received by Lender under paragraphs 1 and 2 shall be applied: first, to amounts <br />payable under paragraph 2; second, to Principal due; and last, to any late charges due under <br />the Note. <br />4. Prior Deeds of Trust; Charges; Liens. The Borrower shall perform all of the <br />Borrower's obligations under the First Deed of Trust, including Borrower's covenants to make <br />payments when due. Borrower shall pay all taxes, assessments, charges, fines and impositions <br />attributable to the Property which may attain priority over this Security Instrument and <br />leasehold payments or ground rents, if any. Borrower shall pay these obligations in the <br />manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on <br />time directly to the person owed payment. Borrower shall promptly furnish to Lender all <br />3 <br />HOkE DEW OF TRUn <br />