|
201200912
<br />Any application of paymemts, insurance praceeds, or Miscellaneous Proc�eds to principal due under the Note
<br />shall not e�ctend or posfipone the due date, ar change the amount, of the Periadic Paymcnts.
<br />3, Fnnda for Escrnw Items. Borrower shall pay to Lender on the day Periadic Paymenta are due undea the
<br />Note, until ttie Nate is paid im full, a sum (the "Funds") to provide for payment of amounts due for: (a) tanes
<br />and assessments and other items which can attain priority aver this Security Iustxumen�t as a lien or
<br />encumbrance on the Property; (b) leasehold payments or ground rents on the Properly, if any; (c) premiums
<br />for any amd a11 insurance required by I.ender under Section 5; and (d) Mortgage Insurance premiums, if any,
<br />or any swns payable by Borrower to Lender in lieu of �he payment of Mortgage Insurance premiums in
<br />accordance with the provisions af Section 10. Ttcese items are called "Escrow Items." At origination or at
<br />any time during the tezm af the Iioan, Lcnder may r�uire that Community Association Ihaes, Fe�, and
<br />Assesam�nts, if any, be escrow� by Barrower, and snch dues, fees amd assessmemts shall be an Escrow
<br />Item. Borrowez� shall promptly futnish to Lender all notices of amounts to be paid under this Se�tion.
<br />B4zrower shall pay Lender the Funds for Escrow Ttems unless Lender waives Borrowet's obligation to pay
<br />the Funds for any or a11 Escrow Ifeme. Lender may waive Borrower's obligation to pay to Lender Funds for
<br />any or all Escxow Items at any tim.e. Any such waiver may only be in writing. In the event of such waiver,
<br />Borxower shali pay directly, when and where payable, the announts due for any Escrow Items for which
<br />payment of Funds has been waived by LendEx and, if Lender requires, shall furnish to Lender rec�ipts
<br />evidencing such gayment within;such time petiod as Lender may reqaire. Borrower's obligation to make
<br />such payments and to providc rcceipts shall for all purposes be deemed to be a covenan.t and agreement
<br />contaiued in fhis Security Instivment, as the phrase "covenant and agreement" is used 'm Section 9. If
<br />Borrower is obligated to pay Esc'caw Items directly, pursuaut ta a waiver, and Borrower fails to pay the
<br />amount dne for an Escrow Item,!Lender may exercise its righfs uuder Section 9 and pay sueh amount and
<br />Borrower shail then be obligated�under Section 9 to repay to Lender auy such amount. Lender may revoke
<br />the waiver as to any or all Escro�✓ Items at any time by a notice given in accozdance with Sectipn 15 and,
<br />upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, tfiat are tfien required
<br />under this Section 3_ �
<br />Lender may, at any time, collect�and hold Funds in an amount (a) suffieient to germif Lender to apply the
<br />Funds at the #ime specified under RESPA, and (b) not to excecd the maximum amount a lender aan ret�uire
<br />under RESPA. Lender shall estimate the amount af Punda due on the basis of current data and r�sonable
<br />estimates of expenditures of future Escrow Items or otherwise in accardance with Applicahle Law.
<br />Tlie Funds shall be held in an insritution whase deposits are insured by a federal agency, instrunnentality, tir
<br />entity (including Lender, if Lender is an inshitution whose deposits are so insured) or itt auy FederaI Aome
<br />Loan Bank_ Lender shall apply the Funds to pay the Escrow Itenas no later tb�an the time specified under
<br />RESPA. Lender shall not charge�$ortower for holding and applying the Funds, annually analyzing the
<br />escrow accaunt, or verifying the �Escrow Items, unless Lender pays Barrower interest ott the Fuuds and
<br />Applica6le T,aw permits Lender to make such a charge. Unless an agreement is made in writing ar
<br />Agplicabie Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower auy
<br />interest or eamings on the Funtis. Bozrower and Lender can agre� in writing, however, that intetest shall be
<br />paid on the Funds. Lender shall give to Borrower, without charge, an ann.ual accounting of the Funds as
<br />requir�d by RESPA.
<br />If there is a surplus of Fuuds held in escrow, as defined under RESPA, Lender shall account to Borcower for
<br />the excess funds in accordan.ce with ItESPA. If there is a shortage of Funds held in escrow, as defined under
<br />RESPA, Lender shall notify Boztower as required by RESPA, and Borrower shall pay to Lender the amount
<br />necessuy to naake up the shortage in accordance with RESPA, but in no more than 12 motttb.ly payments. If
<br />there is a deficiency of Fuuds held in eserow, as defiaed under RESPA, Lender shall notify Borcowez as
<br />NESRASKA-5ingte FamUq-Fannie MaetFreddie Maa UNIFORM iNSTRUMENT Farm 30281b1
<br />VMP � VNIPB(NE) (1106),00
<br />Wolters Ktuwer Fnancial Sarvices Pege b ot t7
<br />
|