|
201208395
<br /> Any application of paymerns, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note
<br /> shall not extend or postpone the due date, or change the amoun[, of the Periodic Paymen[s.
<br /> 3. Ftinds for Escrow Items. Borrower shall pay to Lcrnder 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 paymem of amounts due for: (a)taces
<br /> and assessmen[s and o[her items which can attain priority over this Security Instrutnent as a lien or
<br /> encumbrance on the Property; (b) leasehold paymen[s 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 sums payahle hy Borrower to I.ender in lieu of the payment of Mortgage Insurance premiums in
<br /> accordance with the provisions oF Section 10. These items are called "Escrow I[ems." At origination or at
<br /> :my time during the term of the Loan, Lender may require that Community Associazion Dues, Fees, and
<br /> Assessments, if any, be escrowed by Borrower, and such dues, fees 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[tems unless Lender waives Borrower's obligation to pay
<br /> the Funds for any or all Escmw Items. Lender may waive Bonower's obligation to pay to Lender Funds for
<br /> any or all Escrow Items a[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 F�nds has been waived by I.ender and, if Lender requires, shall furnish to Lender receipts
<br /> evidencing such payment within such time period as L.ender may require. Borrower's obligazion to mal:e
<br /> such paymen[s a�d to provide receipts shall for all purposes be deemed to be a covenant and agreement
<br /> cornained in this Security Instnunern, as[he phrase "covenant and agreemem" is used in Section 9. If
<br /> Borrower is obligated to pay Fscrow Items direclly, pursuant to a waiver, and Borrower fails to pay the
<br /> amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and
<br /> Bonower 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 fime 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 required
<br /> under this Section 3.
<br /> Lendet may, at any time, collect and hold Funds in an amount(a)sufficient to permit Lender to apply the
<br /> Funds at the time specified under RESPA, and(b) not ro exceed the maximum amount a lender can require
<br /> under RESPA. 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 accordaace with Applicable L,aw.
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumemality, or
<br /> entity (including Lender, if Lender is an instimtion whose deposits are so insured)or in any Federal Home
<br /> Loan Bank. Lender shall apply the Funds to pay the Escrow hems no later than the time specified under
<br /> RESPA. L.ender shal] nof chazge Borrower for holding and applying the Funds, annually analyzing the
<br /> escrow account, or verifying the Escrow Items, unless L.ender pays Borrower interest on the Funds and
<br /> Applicable L.aw pemuts Lender to make such a charge. Unless an agreement is made in writing or
<br /> Applicable L.aw requires interest to be paid on the Funds, L.ender shall not be requited to pay Borrower any
<br /> interest or eamings on the Funds. Borrower and I,ender can agree in writing, however, that interest shall be
<br /> paid on the Funds. Lender shall give to Borrower, without charge, an amual accounting of the Funds as
<br /> required by RESPA.
<br /> If there is a surplus of Funds held in escrow, as defined under RESPA, L,ender shall account to Bonower for
<br /> the excess funds in accordance with RFSPA. If there is a shortage of Funds held in escrow, as defined under
<br /> RESPA, L.ender shall notify Borrower as required by RESPA, and Sorrower shall pay ro Leiider the amoun[
<br /> necessary to make up the shortage in accordance wi[h RESPA, but in no more than 12 monthly payments. If
<br /> there is a deficiency of Funds held in escrow, as deFined under RFSPA, Lender shall notify Borrower as
<br /> NE9RASKA-Single Family-Fannie MaelFretltlie Mec UNIFORM INSTHUMEM Form 3028 iroi
<br /> VMP C� VMPBME)�11051.00
<br /> Wol�ers Kluwer Finanaal Services Paqe 5 of 1�
<br />
|