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<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal clue under the Note
<br />shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Fluids 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 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 Section 1.0. These items are called "Escrow Items." At origination or at
<br />any time during fine term of the Loan, Lender may require that Convnunity Association Dues, Fees, and
<br />Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be am Escrow
<br />Item. Borrower shall promptly furnish to Lender 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 Escrow Items, lender may waive Borrower's obligation to pay to Lender Funds £or
<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 Fluids 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 obligation to make
<br />such payments and to provide receipts shall for all purposes be deemed to bull covenant and agreement
<br />contained in this Security Instrument, 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 and pay such amount and
<br />Borrower shall then be obligated under Section 9 to repay fo Lender any such amount. 1,ender may revoke
<br />the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and,
<br />upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are 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 specified under RESPA, and (b) not to oxcccd 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 Bscrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits arc insured by a federal agency, instrumentality, or
<br />entity (including Lender, if Lender is ail institution whose deposits are so insured) or in.any Federal Home
<br />Loan Bark Lender shall apply the Funds to pay the Escrow Items no later than the time specified 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 interest on the Funds and
<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 Fluids, Lender shall not be required to pay Borrower any
<br />interest or earnings on the Funds. Borrower atad lender can ag ere in writing, however, that interest shall be
<br />paid on the Funds. lender shall give to Borrower, without charge, an annual accounting of the 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 Borrower 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 />necessary to snake 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 RESPA, Lender shall notify Borrower as
<br />24000777
<br />NFFRASKA- Sing In Family- Fannie MaalFreddle Mao UNIFORM IN STRUM ENT Farm 8020 1/01
<br />VMP N V 1 P6(NE7(I 106)
<br />Wolters slower Financial Suvlcea Page 5 of 1
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