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 to provide for payment of amounts due for (a) taxes and assessments and other items which can attain priority over this Trust Deed, such as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; and (c) premiums for any and all insurance required by Lender under this Trust Deed. These items are called “Escrow Items.” At origination or at any time during the term of the Loan, Lender may require that community association dues, fees, and/or assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall also be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section.
Appears in 3 contracts
Sources: Deed of Trust, Deed of Trust, Deed of Trust