|
201209435
<br /> My 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[he Periodic Payments.
<br /> 3. F�nds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments aze 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 /> a�d assessments and other items which cari a[tain priority over this Security Instrument as a lien or
<br /> encumbrance on the Property; (b) leasehold payments or ground rents o�[he 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 payable hy Borrower to L.ender in lieu of the payment of Mortgage Insurance premiums in
<br /> accordance with the provisions of Section 10. These items are called "Escrow Items." A[origination or at
<br /> any time during the term of the Loan, L,ender may require[hat Communiry Associa[ion Dues, Fees, and
<br /> Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow
<br /> I[em. Borrower shall promptly fiunish to L,ender all notices of amounts 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 /> the 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 az any time. Any such waiver may only 6e in wri[ing. In the even[of such waiver,
<br /> Borrower shall pay directly, when and where payable, the amoun[s 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 shall for all purposes be deemed to be a wvenant and agreemen[
<br /> contained in this Securiry Instnunent, as the phrase "covenant and agreement" is used in Section 9. If
<br /> Borrower is obligated ro pay Escrow Items directly, pursuant ro a waiver, and Borrower fails to pay the
<br /> amount due for an Escrow I[em, I.ender may exercise its rights under Section 9 and pay such amount and
<br /> Borrower shall then be obligated under Section 9 to repay [o Lender any such amount Lender may revoke
<br /> the waiver as ro any or all Escrow Items at any time 6y a notice given in accordance with Section 15 and,
<br /> upon such revocation, Bortower shall pay to Lender all Funds, and in such amounts, that are then required
<br /> under[his Section 3.
<br /> Lender may, at any tune, collec[and hold Funds in an amount(a) sufFicien[ ro permit L.e�der to apply [he
<br /> Funds at the time specified under RESPA, and (b)not to exceed the maximum amount a lender can require
<br /> under RESPA. Lznder shall estimate the amount of Funds due on the basis of current data and reasonable
<br /> estimates of expenditures of fu[ure Escrow ltems or otherwise in accordance with Applicable C.aw.
<br /> The Funds shall be held in an institution whose deposits are insured by a fe�eral agency, instrumentality, or
<br /> entity (including Lender, if Lender is an institution whose deposits aze so insured) or in any Federal Home
<br /> Loan Bank, I.ender shall apply the Funds to pay the Fscrow Items no later than the time specified under
<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 peanits Lender to make such a chazge. Unless an agreement is made in wri[ing or
<br /> Applicable I.aw requires interest to be paid on the Funds, Lender shall not 6e required to pay Borrower any
<br /> interest or eaznings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be
<br /> paid on the Funds. I.ender shall give to Borrower, without charge, an annual accounting of the Funds as
<br /> required by RESPA.
<br /> If there is a swplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for
<br /> the excess funds in accordance with RESPA. If there is a shortage of Fu�ds held in escmw, as defined under
<br /> RFSPA, Lender shall notify Bortower as required by RESPA, and Borrower shall pay to Lender the amoum
<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, I.ender shall notify Borrower as
<br /> NEBFASKA-Single Family-Fannia Mae/Fretltlie Mac UNIFORM INSTRUM[NT Form 3028 1/01
<br /> VMP� VMP81NE1 111�51.00
<br /> Wolters Kluwer Financial SerNces Page 5 of t l
<br />
|