|
201206044
<br />Any application of payments, insurance proceeds, or MisQc1lancous Proceeds to principal due under the Note
<br />Shall not extend or postpone the due date, or change the amount, of the Periodic Payments,
<br />Minds for E serow 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 lieu or
<br />encumbrance on the Property; (b) leauseliold 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 sunis 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 Association Dues, Fees, said
<br />Assessments, if any, be escrowed by Borrower, and such dries, fees and assessments shall be an Escrow
<br />item. Borrower shall promptly furnish to Lender all notices of arnounts 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 />(lie 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 al 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 slial I for all purposes be deenred to be a covenant and agreement
<br />contained in this Security Instrument, as [lie phrase " covenant and agreement" is used in Section 9. If
<br />Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, ,aid Borrower fails to pay the
<br />arnount due for in Escrow ftenn, Lender may exercise its rights under Section 9 and Pay SUG11 1111011m and
<br />Borrower shall then be obligated under Section 9 to repay to Leader any suchaflount. Lender may revoke
<br />the waiver as to any of all Escrow Items at any time by a notice given in accoi dance with Section 15 and,
<br />upon such revocation, Borrower shall pay to Lenderall Funds, and in such amounts, [hit are then required
<br />under this Section 3.
<br />Lender may, at any Lime, collcet and hold Funds in an amount (a) sufficient to permit Lender to apply [he
<br />Funds at the time specified under RESPA, and (b) not to exceed the maximurn amount a lender can require
<br />under RESPA. Lender shall estimate the amount of Funds due on [he basis of cui rent 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 whoso deposits are insured by a federal agency, instrumentality, or
<br />entity (including Lender, if Lender is an institution whose deposits Lite 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 speoified LindQr
<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 Funds, Lender shall not be required to pity Borrower any
<br />interest or earnings on the Funds. Borrower and Lender can agree in WritiDg, 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 IU,,'SPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for
<br />die excess funds in accordance with RESPA. If there is asbortage of Funds held in escrow, as defined under
<br />RESPA, Lender shall notify Borrower as required by RESPA, and Borrowershall pay to Lcnder thearricanit
<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 />24001511
<br />NEBRASKA �Sifigle Family-Fann In Mao�Freddia Mae UN I FORM NSTRUH ENT F.rm 3020 IM1
<br />VIOP @ VMP6(NE) io
<br />Wolters Kluwer Fimuclal Ser0cee Page O.f N
<br />
|