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, 20120209E
<br />Any applicaiion of payments, iusurance proceeds, or Miscellaneous Proceeds to principal due under the Note
<br />shall not extend or postgone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow 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 />and assessments and other items which can attain prioriry over this Securiry 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) MoRgage Iasurance 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 Section 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 Associatiou Dues, Fees, and
<br />Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow
<br />Item. Borrower sha11 promptly furnish to Lender all notices of amounts to be paid under this Section.
<br />Borrower shall pay Lendet the Funds for Escrow 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 ma.y 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 Leader receipts
<br />evidencing such payment within such time period as Lender may require. Borrower's obligation 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 Securiry Instn�meat, as the phrase "covenant and agreement" is used in Section 9. If
<br />Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the
<br />amount due for an Escrow Item, Lender may exercise its rights under Section 9 aad pay such amount and
<br />Borrower sha11 then be obligated under Section 9 to repay to Lender any such amount. Lender ma.y revoke
<br />the waiver as to any or a1l Escrow Items at any time by a notice given in accordance with Section 15 and,
<br />upon such revocation, Borrower shall pay to Lender a11 Funds, and in such amounts, that are then required
<br />under this Section 3.
<br />Lender ma.y, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the
<br />Funds ax the time specif'ied under RESPA, and (b) not to exceed the maximum amount a lender ca.n require
<br />under RESPA. Lender shall estimate the amount of Funds due on the basis of cunent dala. 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 are insured by a federal agency, instrumeWaliry, or
<br />entiry (including Lender, if Lender is an iastitution whose depos'rts 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 specif'ied under
<br />RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the
<br />escrow account, or verifying the Escrow Items, unless Lender pays Borrower iuterest on the Funds aud
<br />Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or
<br />Applicable Law requires interest to be paid on the Funds, Lender sha11 not be required to pay Borrower any
<br />interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be
<br />paid ou the Funds. Lender shall give to Borrower, without charge, an annual accounting of tt►e Funds as
<br />required by RESPA.
<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, aud Borrower shall pay to Lender the amount
<br />necessary to make up the shortage in accordance with RESPA, but in no more tha.n 12 monthly payments. If
<br />there is a deficiency of Funds held in escrow, as de�ned under RESPA, Lender sha.11 notify Bonower as
<br />NEBRASKA•Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/O1
<br />VMP � VMPB(NE) (1106).00
<br />Woltere KWwer Financial Services Page 6 of 17
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