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201206682
<br /> Any application of payluents, insurance proceeds, csr Miscellaneocv>Proceeds to principal due under the Note
<br /> sh�ill noY extend or pastpone the due date, ar change the amount, of the Yeriodie Paymenis.
<br /> 3. Fhnds for Escrow Items. Borrower shall pay to Lender on the day Periodic Paymexits are due imder the
<br /> Note, until the Note is paid in full, a sum(fhe"Funds") 4o grovide for payment of amoiurts due for: (a)taxes
<br /> and assessments and other items wlueh can attain priority over this Security lnstnunent as a lien or
<br /> enciunbrance on the Property; (b)leasehold payinents or ground rents on the Properry, if any; (c)preiniums
<br /> for any and all insixrance required by Le�der under Section 5; and(cn Mortgage Ins�ance premiums, i£�y,
<br /> or a�y swns payable by Borrower to Lender in lieu of the payinent of Mortgage Tnsurance prcrniums in
<br /> accordauce with the provisions of Secrion 10. These ite�ms aze called"Escrow Items:" At originalion or at
<br /> any time durin�the term of the Loan, Lender may require that Commutu[y Association Dues, Fees, and
<br /> Assessments, if any, be escrowed by Borrower, and such dues, fees and assessmencs shall be an Escrow
<br /> Item. Borrower shall�rouiptly funvsh to Lender all notices of azuounts to Ue paid undeF this Sec[ion.
<br /> Borxower shall pay Lender the Fuiids for Escrow Items unleSg Lender waives Borrower's obligation to pay
<br /> the FLuids fpr any or all Escrow Items. Lender may waive Borrower's obligation to pay[o Lender Funds for
<br /> any or a11 Escrow Items at any time. Auy such waiver may onlp be in wti5ng. In the ev�t of sueh waiver,
<br /> Borrower shall pay directly, when and where payahle, the amounts due for any P.scrow Items fox which
<br /> plyment oYFuncis has been waived by Lender ancl, if Lender requires, shall furnish to Lender reeeipts
<br /> evidencing such pavment�dthin such time period as L,ender may require. Borr�wcr s oblida5on.to make
<br /> such pavmnents and to prqvidc receipts shall for all purposes be deemed to be a covenant and agreement
<br /> contained in flus Security Instrumenf, as the pluase"coveuant and agreement" is used in Sectiqn 9. If
<br /> Borrower Is obligated to pay Escraw Items d'uectly, p�suant t6 a waiver, and Borrower fails to pay the
<br /> amount due for an�scrow ltem, Lender may exercise its rights under Section 9 and pay such amount and
<br /> Borrower shall then be obfigated under Section 9 to cepay to Lender any such amoLmt Lender may xevoke
<br /> the R�aiver as to any or all Escrow Items at any lime hy a norice�riven m accordance with Secfion IS and,
<br /> upon such revocaticm, Borrower sliall pay to Lender ali Funds, aad in such ainounts, that are then required
<br /> under this Section 3.
<br /> Lender may, at any time, collect and hold Punds in an amocmt(a) sufficient to peruut Lender to a�ly the
<br /> Funds at the lime speeifiecl iuidcr RESPA, and(b)not to exceed the masunwn am�unt a lender can require
<br /> under RESPA. Lender shall estunate the amouni of Fuuds dne on the basis of current data and reasonablc
<br /> estimatcs of expendihaes of future Escrow Items or othzrc�+ise in accordance with Applicable Law.
<br /> The Funds shall be held in an insfirution whose deposits aze insuzed by a federal agency, instrumentalit}�, or
<br /> entity(including I ender, if L�der is an institution wliose deposits are so 3nsured) ar in any Fedesal LIome
<br /> Loan B�k. Lendes shall apply the Funds to pay the Escrow Iteuvs no later tban the tiine speci£ied under
<br /> RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyaag the
<br /> escrow account, or verifqing the Escrow Itzms, unless LenGer pays Borrower interest on the Funds and
<br /> A�plicable Law permits Lender to make such a chazge. Unless an agreement is made in cvriting or
<br /> Applicable Law requires interest bo be paid on the Funds, Lender shall nof be requSred to pay Borrower any
<br /> interest or eaznuigs on the Funds. Borro��er and Lender can agree�n wxiting, however, that intzrest shall Uc
<br /> paid on the Funds. Lender shall give to Borrower, without chazge, an annual accounting of the Funds as
<br /> rcxluired by RESPA.
<br /> If there is a surplus of Funds held in escrow, as defined under RESPA, L,ender shall account to Borrower for
<br /> the excess funds in accordance wi.th RESPA. If there is a shortage of Punds held in escr�w, as defined under
<br /> RESPA, Lender shall notify Borrower as required by RESP A, anci Borrower shall pay to Lender the amount
<br /> necessary to inake up the s�iortagc in accordance with RE$PA, t�ut in no mor0 than 12 monlhly payments. If
<br /> there is a deficiency of Funds held in escrow, as deFined under RESPA, Lender shall notify Borrower as
<br /> zaooi�az
<br /> NFBRqSKASingle Famity-Fannie M ae�Fretldie nfl ac J W FORA1 W STRU6lBJT Porm 3o2a Vo 1
<br /> l�M P p � VMP6(NE)('1105)
<br /> Walters KWwer Financial Services Page 5 of 1�
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