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2012019�4
<br />Any application of pa.ymenis, iasurancc proceeda, or.MisceIla�eous Proceeds ta principal due underthe Note
<br />shall not extend. or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Borrowez sha11 pay to Lender on the day Periodic Payments are due under the
<br />Note, nntil the Note is paid in full, a sum (the "Fimds") to provide for payment oF amounts due for: (a) taxes
<br />and assessments and oiher items which can attain priority over this Security Inshvment as a lien or
<br />enc�hra. on the Property; (b) leasehold payments or ground rents on the Property, if any; {c) pzemiums
<br />for azry and all insnrance required by L�nder under Section 5; and (d) Mortgage Insurance pree��, if a.ny,
<br />or airy s�s payable by Borrower to Lender in lien of the payment of Mortgage Insurance premi�uns in
<br />accordance with the provisions of Sectian 10. These items are called °Escraw Items." At origination or at
<br />aay ti.me during the f.erm of the Loan, Lender may require that Cammunity Association Dues, Fees, and
<br />Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escmw
<br />Item. Barrower shall gromptly fut�nish to Lender all notices of amounts to be paid under this Section.
<br />Borrower shall pay Lender the Funds for F.scrow Items unless Lender waives Borrower's obligation to pay
<br />the Funds far 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. .A,ny such waiver may only be in writing. In the event of such waiver,
<br />Borrower shall pay directly, when and where payable, the a.u�ounts due for any Escrow Items for �vhich
<br />payment of Funds has been waived by Lender and, if Lender requixes, shall furnish to Lender receipts
<br />evidencing such payment within such time periad as Lender may require. Borrowex's obligation to make
<br />such payments and to provide recsipts shall for all purposes be deemed to be a coeenant and agreement
<br />contained in fhis Sec�sity Instrument, as the phrase "covenant and agreement" is used in Secti.on 4. If
<br />Sorrower oblig�ted to pa�t Esc?'qw Items direcfly� Fursnant to a w�iver,. aad Bprrower fa�1s to pay the
<br />amount due for an Escrow Item, Le�er may exercise its rights under Section 9 and pay such amount and
<br />Borrower shall then be obligated under Section 9 to regay ta L,snder any* such amount. Lender may reaoke
<br />rhe wai.ver as to any or all Esemw Items at any time �by a notiee given in accardance with Section 15 and,
<br />ugon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then rP;
<br />undez this Section 3.
<br />Lender ma.y, at any time, collect and hold Funds in an amount (a) suffici,ent to permit Lender to apply the
<br />Funds at the time specif'ied imder RESPA, and (b) nat to exceed the maximum amount a lender can require
<br />under RESPA. Lender shall estimate the amount of Funds due an the basis of current data and reasonable
<br />estimates af expendid.ues of future Escrow Items or otherwise in accorda.uce with Applicable Law.
<br />The Funds svall be held in an institution whose deposits are insured by a federal agency, instrumentaLity, ar
<br />enfity (including Lender, if Lender is an institnti�n whose deposits are so insured) or in any Federal Home
<br />Loan Bank. Lender shall apply the Fnnds to pay the Fs�row Items no later than the time specified under
<br />RESPA. Lender shall not charge Borrower for holding and applying tlie Punds ammt�allY ana13'zing the
<br />escrow accavnt, or verifymg tbe Escrow Items, unless Lender pays Borrower interest on the Fvntis and
<br />Applicable Law permits Lender to make such a charge. UnJ.ess an agreement is made in writing or
<br />�,pplicable Law requires interest to be gaid on the Funds, Lender shail. not be required ta pay Bonrower any
<br />interest or earnings on the Funcis. Borrawer and Lender can agree in writing, however, that interest shall be
<br />paid on the Funds. Lender shall give ta Borrower, without charge, an annual accounting of the Fimds as
<br />required by RESPA.
<br />If tS�exe is a surplus of Funds held in escrow, as de�ined under RFSPA, Lender shall account to Borrower for
<br />the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined u�ler
<br />RESPA, Lender shall notify Borrower as required by RESPA, and Borrower sha11 pay to Lender the amount
<br />necessary tn make up the shortage im accordance with RESPA, but in � more than 12 monthly gayments. If
<br />there is a deficiency of Funds held in escrow, as defined under RESPA, Lender sbal]. notify Bonower as
<br />NEBRASKA-Slr�gin Famtly-Famda MaelFreddla Mac UNIFOAM INSTRUMENT Form 3�28 7/01
<br />� � VMPBtPfE1 (1106),00
<br />Woltare Kluwar Flrmneial Sarvices Page 6 ot 17
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