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201206644
<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 amount, of the Periodic Paytnents.
<br />3. Funds for Escrow Items. Bonower 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 require� by Lender under 5ection 5; and (d) Mortgage Insurance premiums, if any,
<br />or any sums payable by Bonower to Lender in lieu of the payment of Mortgage Insurance premiums in
<br />accordance with the provisions of Section 10. These items aze called "Fscrow Items." At origination or at
<br />any time during the term of the Loan, Lender may require that Community Associarion Dues, Fees, and
<br />Assessments, if any, be escrowed by Bonower, and such dues, fees and assessments shall be an Escrow
<br />Item. Bonower shall promptly furnish to Lender all notices of amounts to be paid under this Secrion.
<br />Bonower shall pay Lender 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 obligarion to pay to Lender Funds for
<br />any or all F.scrow Items at any time. Any such waiver may only be in writing. In the event of such waiver,
<br />Bonower shall pay dir�tly, when and where payable, the amounts due for any Escrow Items for wluch
<br />payment of Funds has been waived by I.ender and, if Lender requires, shall furnish to Lender r�eipts
<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 Instniment, 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 Bonower fails to pay the
<br />amount due for an Escrow Item, Lender may exercise its rights under Secrion 9 and pay such amount and
<br />Bonower shall then be obligated under Se,ction 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 aze then require�
<br />under this S�rion 3.
<br />Lender may, at any time, coll�t and hold Funds in an amount (a) sufficient to permit I.ender to apply the
<br />Funds at the time spe�ified under RESPA, and (b) not to excced the maximum amount a lender can require
<br />under RFSPA. Lender shall estimate the amount 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 sha11 be held in an institution whose deposits are insured by a federal agency, instrumentaliry, or
<br />enrity (including Lender, if Lender is an institution whose deposits aze so insure�) or in any Federal Home
<br />Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time spe,cified under
<br />RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the
<br />eserow account, or verifying the Eserow Items, unless Lender pays Bonower 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 Ue paid on the Funds, L,ender shall not be required to pay Borrower any
<br />interest or earnings on the Funds. Bonower and Lender can agree in writing, however, that interest shall be
<br />paid on the Funds. Lender shall give to Bonower, without charge, an annual accounting of the Funds as
<br />required by RFSPA.
<br />If there is a surplus of Funds held in eserow, as defined under RFSPA, Lender shall account to Borrower for
<br />the excass funds in accordance with RFSPA. If there is a shortage of Funds held in escrow, as defined under
<br />RESPA, Lender shall notify Borrower as required by RESPA, and Bonower shall pay to Lender the amount
<br />necessary to malce 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 define� under RESPA, Lender shall notify Bonower as
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />VMP � VMPBINEI (1105)
<br />Wotters Kluwer Financial Services Page 5 of 17
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