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<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note
<br />shall not cxtcnd or postponc thc duc datc, or changc ihc amount, of thc Pcriodic Paymcnis.
<br />3. Funds for Eserow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the
<br />Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes
<br />dnd atis�sments and other items which can attain priurity over this tiec;urity Instrument ati a lien or
<br />encumbrance on the Property; (b) leasehold payinents or ground rents on the Property, if any; (c) premiums
<br />for any and all insurance required hy Lender under Section 5; and (d) Morlgage Insurance premiums, if any,
<br />or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in
<br />acwrdance with the provisions of Section 10. '1'hese items ate called "Escrow Items." At origination or al
<br />any timc during thc tcrm of thc Loan, Lcndcr may rcquirc that Community Association Ducs, Fccs, and
<br />Assessments, if any, be �crowed by Borrower, and such dues, fees and assessments shall be an Escrow
<br />Item. Borrower shall promptly iumish to Lender all notices of a►nounts to be paid under this Section.
<br />Borrower shall pay Lender the Funds fc�r F,u;row Ilems unless Lendc.�r waiv� Barrower's obligalion lo pay
<br />the Funds for any or all Escrow Items_ Lender may waive Barrower's obligation to pay to Lender runds for
<br />any or all Escrow Items at any tiive. Any such waiver may only be in writing. In ihe event of such waiver,
<br />Borrower shall pay directly, when and where payable, the auiounis due for any �scrow Items for which
<br />paytnent of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts
<br />cvidcncing such paymcnt within such timc period as Lcndcr may rcquirc. Borrowc�r's obligation to makc
<br />such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement
<br />contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9_ If
<br />Borrower is obliguled to pay F,urow Items Jirec:ily, pursuanl lo a waiver, und &�rrower fails to pay the
<br />amount due for an Escrow Itetn, Lender inay exercise its rights under Section 9 and pay such amount and
<br />Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender �nay revoke
<br />the waiver as to any or all �scrow Items at any time by a notice given in accordance with Section I S and,
<br />upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required
<br />undcr this Scction 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a} sufticient to permit Lender to apply the
<br />Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require
<br />under RF.SPA_ Lender shall eslimate the amounl of Funds due on lhe hasis uf currenl dala and re�asonable
<br />estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law.
<br />The Punds shall be held in an institution whose deposits are insured by a federal agency, instnunentality, or
<br />entity (induding Lender, if Lender is an institution whose deposits are so insured) or in any Federal IIome
<br />Loan Bank. Lcndcr shall apply thc Funds to pay thc Escrow Itcros no latcr than thc timc spc:ci�cd undcr
<br />RESPA. Lender shall not chatge Borrower for holding and applying the Funds, annually analyzing the
<br />escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and
<br />Applicable Law permils Lender lo make such a charge. iJnl�ti an agreemenl is mude in wriling or
<br />Applicable Law requirc;s interest to be paid on the Funds, Lender shall not be required to pay Borrower any
<br />interest or eatnings on the Funds. $orrower and Lender can aga�ee in writing, however, that interest shall be
<br />paid on the Punds. Lender shall give to Borrower, without charge, an annual accounting of the Punds as
<br />required by RESPA.
<br />If thc.�rc is a surplus of Funds hcld in cscrow, as dcfincd undcr RESPA, Lcndcr shall account to Borrowcr for
<br />the excc�s funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under
<br />RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount
<br />nec;essary lo make up lhe shortdge in accordance with RF,SPA, bul in no more lhan 12 monlhly paymenls_ If
<br />there is a deficiency of Punds held in escrow, as defined under RESPA, Leuder shall notify Borrower as
<br />1111023724 1111023724
<br />N�RASKASingle Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMBJT Fortn 3028 1101
<br />VM P (y, VM P8(NE) (1105)
<br />Wolters Kluwrer Finmicial Services P�e 5 of 17
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