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20120595f
<br />may require. Borrower's obligation to make such payments and to provide receipts sha11 for a11 purposes
<br />be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant
<br />and agreement" is used in Section 9. If Bonower is obligated to pay Escrow Items directly, pursuant to
<br />a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its right�
<br />under Section 9 and pay such amount and Bonower shall then be obligated under Section 9 to repay to
<br />Lender any such amount. Lender may revoke the waiver as to any or a11 Escrow Items at any time by a
<br />notice given in accordance with Section 15 and, upon such revocation, Bonower shall pay to Lender all
<br />Funds, and in such amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply
<br />the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can
<br />require under RESPA. Lender sha]1 estimate the amount of Funds due on the basis of current data and
<br />reasonable estimates of expenditures of future Escrow Items or othenvise in accordance with Applicable
<br />Law.
<br />The Funds sha11 be held in an institution whose deposits are insured by a federal agency, instrumentality,
<br />or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federa.l
<br />Home Loan Bank. Lender sha11 apply the Funds to pay the Escrow Items no later than the time specified
<br />under RESPA. Lender sha11 not charge Bonower for holding and applying the Funds, annually analyzing
<br />the escrow account, or verifying the Escrow Items, unless Lender pays Bonower interest on the Funds
<br />and 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
<br />any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest
<br />sha11 be paid on the Funds. Lender sha11 give to Bonower, without charge, an annual accounting of the
<br />Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender sha11 account to Bonower
<br />for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined
<br />under RESPA, Lender sha11 notify Borrower as required by RESPA, and Borrower shall pay to Lender
<br />the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly
<br />payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender sha11 notify
<br />Borrower as required by RESPA, and Borrower sha11 pay to Lender the amount necessary to make up
<br />the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of a11 sums secured by this Security Instrument, Lender sha11 promptly refund to
<br />Bonower any Funds held by Lender.
<br />4. Charges; Liens. Borrower sha11 pay all taxes, assessments, charges, fines, and impositions attributable
<br />to the Properiy which can attain priority over this Security Instrument, leasehold payments or ground
<br />rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the
<br />extent that these items are Escrow Items, Bonower sha11 pay them in the manner provided in Section 3.
<br />Bonower sha11 promptly discharge any lien which has priority over this Security Instrument unless
<br />Borrower. (a) agrees in writing to the payment ofthe obligation secured by the lien in a manner acceptable
<br />to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith
<br />by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate
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<br />NEBRASKASingle Family-Fannie Mae/Freddia Mac UNIFORM INSTRUMENT j' I Form 30281l01
<br />OB/10
<br />VMP�
<br />Wolters Kluwer Finarwial Services 2012W094.0.0.0.4002-J20110208Y Infiais: Paga 5 of 17
<br />•H 7 7
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