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201206011
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds- to principal due under the Note
<br />shall not extend or postpone the due date, or change the agrount, of the Periodic Payments -
<br />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 "Funi to provide for payment of amormts 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 Las arance premiums, if any,
<br />or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance pf emium: in
<br />accordance with the provisions of Section 10. These items are called "Escrow hems- " At origination or at
<br />any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and
<br />Assessments, if any, be escrowed by Borrower, and such dues, Ices and assessments shall be an 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 Itcans. Lender may waive Borrower's obligation to pay to Lender Funds for
<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 Funds 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 be a 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 mky exercise its rights under Section 9 and pay Such amount and
<br />Borrower shall then be obligated under Section 9 to repay to Lender any such amount- Lender 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 Fun&S in an amount (a) sufficient to permit Lender to apply the
<br />Funds at the time Specified under RESPA, and (b) not to exceed the roaximurn, amount a lender can require
<br />under RFSPA- I ender shall estimate the amourn of Funds due on the basis of current data 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, instrumentality, or
<br />entity (including Lender, if I ender is an institution whose deposits are so insured) or in any Federal Home
<br />Loan Bank. Lender shall apply the Funds to pay the Escrow Item 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 aceornt� 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 Funds, Lender shall 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 on the Funds. Lender shall give to Borrower, without char.gcl an annual accounting of the Funds as
<br />required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defirted Under RESPA, Lender shall account to Borrower for
<br />the excess funds in accordance with R-ESPA- If there is a shortage of Funds held in escrow, as defired under
<br />RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount
<br />necessary to make 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 />24001494
<br />NEDRASKA-Sin,le Farnfly-F�n,ic M�,JF,nddiaMa, HNIFORM INSTRUMENT Fam 3023 1101
<br />VW. P (.� VM P6�Tr=) (1105)
<br />Woltes Rimer Financial Se,ices Page 5 of 17
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