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201208580 <br /> Auy applicafion of payments, insurance proceeds, ar 1Vliscellaneous Proeeeds to principa[due under the Note <br /> shall not extend or postpone the due date, or change the amount, of the Pcriodic Payments. <br /> 3. Funds for Escrow Ifems. Borrower shall pay to Lender on the day Periodic Pay�neffis aze due undcr the <br /> I�Tote, until tl�e Note is paid in fu11, a sum(the"Fmtds")to provide for payment of amounts due for: (aj[azes <br /> and asses�nents and other items which can attain prlorify over this Security I�vstnmient as a lien or <br /> encumbrance on t11e Property; (b)leasehold pa}nnents or ground rents on the Property; if any; (c)pzerniutns <br /> for any and all insurance required bp Lendes tmder Section 5; amd(d)Mortgage InsLu-ance premiuxns, if any, <br /> or any swns pa5 able by Bonower to Lender in lieu of the payinen2 of Mortgage Insurance preixuums in <br /> aecordance with the provisions of Section 10. Tl��e items ara called"�scrow Iteins" At originatioa or at <br /> any rime during the tenn of the Loan, Lender may require that Community Association Dues, Fees, and <br /> Assessments, if any, be escrowed by 13oirower, and such dues, fees and assessmenis shall be an Escrow <br /> Item Borrower shall promptly furni9h to Lender all nonces of amounts to be paid Luides this Seetion. <br /> Borrower shall pay Lender the Funds for F.scrow Items unless Lender waives Borro�[�er's obligation to pay <br /> thc Funds for any or all Escrow Items. Lender ma.y n✓aive Borrower's obligalion to pay to Lender Funds for <br /> any or all Escrow Items at any ume. Any such wai�er inay oi�ly be in writing. In the event of such waiver, <br /> Borrower shall pay direcfly, when and wh�re payable, the amouncs due for any Escxow Items for whicl� <br /> payment of Funds has been waived hy Lender and, if Lender requiras, shall I¢rnish to Lender receipts <br /> evidcncing such payment anthin such tune period as Lender may require. I3orrowei`s obli�ation to make <br /> such payments and to provide reaeipts sha11 for all purposes be deemed to Ue a cove�n't and ageement <br /> contained in this Security Instrurnent, as the phrase"covenant and agreement" is Ltised in Section 9. 1f <br /> Borrower is obligated tp pay Escrow Items directly, gursuant to a waiver, and Borrower fails to pay khe <br /> amount due for an Escrow Item, Lender�nay exercise its rights under Secrion 9 aad pay such amaunt and <br /> Borrower shall then be obligated under Secfian 9 to repay to Lender any su.ch unount Lender may revoke <br /> fhe waiver as to any or all Escrov✓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 unoimts, that arz then required <br /> Lmder this Section 3. <br /> Lznder may, af any time, collect and hold Funds in an amount(a) sufficient to permiY Lender to apply the <br /> Funds at the tnne speci,�ed under RESPA, and(b) not to exceed the ma�mum amount a lender cui require <br /> under R�SPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable <br /> estimates of es,l�enditmes of future�scrow ftems or othenvise in accardance with Applicable I,aw. <br /> The Funds shall be held in an institution whose deposits are insured by a federal agency, insh-umentality, or <br /> entity(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal.Hotne <br /> Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the tune specified under <br /> RESPA. Lcnder sLall uut clwrge Burrower lUr holding and applying the Funds, annually analyzing the <br /> escrow accoLurt, or neriiving tlte Escrow Items; unless Lender pnys Borrowcr urterest on the Funds and <br /> Applicable Law permits Lenda to make such a charge. Unless an a�reement is made m writing or <br /> Applicable Law iequues interest to be paid on the Funds, Lender shall not be requircd to pay 8orrower any <br /> interes±or eamings on fhe Funds. Borrower and L.ender can agee in writina, however, that interest shall be <br /> paid on the Funds. Lender�all giva to Borrower, without charge, an annual accounting of fhe Funds as <br /> required 6y R�SPA. <br /> If there is a siuplus of Fuvds held in escrow, as defined under RESPA, Lender shall aacount N�orrower for <br /> the excess funds in accordance with RESPA If ther�is a shortage of Funds held in escrow, as defined Lmder <br /> RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the ainount <br /> necessary to make up the shortage in accordance with RLSPA, but in no more thau 12 monFhly payments. If <br /> there is a deficicncy of Fmids held in escrovr, as defined under RESPA, Lender shall norifv Borrou�er as <br /> 24002435 <br /> NEBRHSfWSingle Family-Fannie biaelFredtlie Mac pMFORM INSTRUM ENT Fortn 302&1/Ot <br /> UM P-� V M PG(NE)(11 R5) <br /> Vdoltea Kluwer Financial Services Page 5 of 1] <br />