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201200541
<br />Any application of payments, insurance procee�s, or Miscellaneous Proceeds to principal due under the Note
<br />shall not extend or postpone the due daxe, or change the amount, of the Periodic Payments.
<br />3. Funds for Escro�v Items. Borrower shall pay to Lender on the day Periodic Payments aze 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 Property, 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 sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in
<br />accordance with the provisions of S�tion 10. These items are called "Escrow Items." At origination or at
<br />any time during the term of the Loan, Lender may require that Community Associarion Dues, Fces, and
<br />Assessments, if any, be escrowed by Bonower, and such dues, fees and assessments shall be an Escrow
<br />Item. Bonower shall promptly furnish to Lender all notices of amounts to be paid under ttus S�tion.
<br />Borrower shall pay Lender the Funds for Eserow Items unless Lender waives Bonower's obligation to pay
<br />the Funds for any or all Escrow 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 directly, when and where payable, the amounts due for any Escrow Items for which
<br />payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts
<br />evidencing such payment within such time period as Lender may require. Borrower's obligarion to make
<br />such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement
<br />contained in this S�urity Insmiment, as the phrase "covenant and agreement" is used in Secrion 9. If
<br />Bonower is obligated to pay Escrow Items directly, pursuant to a waiver, and Bonower fails to pay the
<br />amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount 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 accordance with Secrion 15 and,
<br />upon such revocation, Bonower shall pay to Lender all Funds, and in such amounts, that aze then required
<br />under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the
<br />Funds at the time spe�ified under RESPA, and (b) not to exce�i the maximum amount a lender can require
<br />under RFSPA. Lender shall estimate the amount of Funds due on the basis of cunent 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 insritution whose deposits aze insured by a federal agency, instrumentality, or
<br />entity (including Lender, if Lender is an institution whose deposits are 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 sp�ifierl under
<br />RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the
<br />escro�+ account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and
<br />Applicable I.aw permits Lender to make such a charge. Unless an agr�ment is made in writing or
<br />A�plicable Iaw requires interest to be paid on the Funds, Lender shall not be required to pay Borro�ver any
<br />inter�t or earnings on the Funds. Bonower and Lender can agree in writing, however, that interest shali he
<br />paid on the Funds. Lender shall give to Bonower, without charge, an annual accounting of the Funds as
<br />requirefl by RES�'A.
<br />If there is a surplus of Funds held in escrow, as defined under RFSPA, I.ender shall account to Bonower for
<br />the excess funds in accordance with RFSPA. If there is a shortage of Funds held in escrow, as defined under
<br />RESPA, L,euder shall notify Bonower as required by RESPA, and Bonower shall pay to Lender the amount
<br />necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly paymerns. If
<br />there is a deficiency of Funds held in escrow, as defined under RFSPA, Lender shall notify Borrower as
<br />NEBRASKA-Single Family-Fannie Mae/Freddle Mac UNIFORM INSTRUMENT
<br />VMP �
<br />Waltera Kluwer Financia� Services
<br />Form 3028 1 /01
<br />VMP6INE) (1105)
<br />Page 5 of 17
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