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<br />Any application of payments, insurance proceeds, or Miscellan�us Proceeds to principal due under the Note
<br />shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Bortower 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 />and assessments and other items which can attain priority over this Security Instrument as a lien or
<br />encumbrance on the Property; (b) leasehold payments or ground rents on the Properiy, if any; (c) premiums
<br />for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any,
<br />or any sutns payable by Bonower to Lender in lieu of the payment of Mortgage Insurance premiums in
<br />accordance with the provisions of S�tion 10. These items aze called "Escrow Items." At originarion or at
<br />any time durittg the term of the Loan, Lender may require that Community Association Dues, F�s, and
<br />Assessments, if any, he escrowed by Bonower, and such dues, feES and assessments shall be an Escrow
<br />Item. Borrower shall promptly furnish to L�nder all notices of amounts to be paid under this Section.
<br />Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay
<br />the Funds for any or all Eserow Items. Lender may waive Borrower's obligation to pay to Lender Funds for
<br />any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver,
<br />Borrower shall pay dir�tly, when and where payable, the amounts due for any F.scrow Items for whic]i
<br />payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender rec:eipts
<br />evidencing such payment within such time period as Lender may require. Borrower's obligation to malce
<br />such payments and to provide receipts shall for all purposes be d�med to be a covenant and agreement
<br />contained in this Security Instrument, as the phrase "covenant and agreement" is usefl in Se,crion 9. If
<br />Bonower is obligated to pay Fscrow Items dir�tly, pursuant to a waiver, and Bonower fails to pay the
<br />amount due for an Fscrow Item, Lender may exercise its rights under Se�tion 9 and pay such amou� and
<br />Bonower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke
<br />the waiver as to any or all Escrow Items at any time by a notice given in acxordanc� with S�tion 15 and,
<br />upon such revocarion, Borrower shall pay to Lender all Funds, and in such amounts, that are then required
<br />under this S�tion 3.
<br />Lender may, at any time, coll�t and hold Funds in an amount (a) sufficient to permit I.ender 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 RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable
<br />estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits aze insured by a federal agency, instrumentality, or
<br />entity (including Lender, if Lender is an institution whose deposits aze so insured) or in any Federal Home
<br />Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specifie� under
<br />RESPA. Lender shall not chazge �nower for holding and applying the Funds, annually analyzing the
<br />escrow account, or verifying the Escrow Items, unless Lender pays Bonower i�er�t on the Funrls and
<br />Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or
<br />Applicable La.w re�uires interest to be paid on the Funds, Lender shall not l� require� to pay Borro�ver any
<br />interest or earnings on the Funds. Bonower and Lender can agree in writing, however, that irnerest sha11 be
<br />paid on the Funds. Lender shall give to Bortower, without chazge, an annual accounting of the Funds as
<br />required by RES�A.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Bonower for
<br />the excess 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 />ne�essary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If
<br />there is a deficiency of Funds held in escrow, as defined under RFSPA, Lender shall norify Borrower as
<br />NEBRASKA-Si�Ie Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Farm 3028 1/01
<br />VMP � VMP6(NE) (1105)
<br />Woltars Kluwer Financtal Services Page 5 of 17
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