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201210888
<br /> Any application of payments, insurance proceed,, or Miscellaneous Proceed3 to principal due under the IQ4te
<br /> shall not estend or postpone the due daYe, or cliange the amount, of the Perindic Pa}mients.
<br /> 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the
<br /> Note, unkil the Note is paid in full, a sum(the°Punds") to provide far payment of amoimts due for: (a)taxes
<br /> and assessments and other items which can attain priority over this Security Instniment as a lien or
<br /> encumbrance on the Properiy; (b)leasehold payinents or ground xents on the Ptoperiy, if any; (c)premiums
<br /> for any and all insurance required by Lender under Secrion 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 are called"Escrow Items." At origination ar at
<br /> any tune during the tezm of the Loan, Lender may require that Couimunity Association Dues, Fees, and
<br /> Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow
<br /> Item, Boaower sha11 promptly funtish fo Lender aII notices o£amounts to be paid under this Secrion.
<br /> Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower`s obligarion to pay
<br /> the Funds fpr any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for
<br /> any or all Escrow Items at any time. Any such waiver may only be in wxiting. In the event of such waiv�,
<br /> Boaower shall pay d'uectly, when and where payable, the amounts due for any Escrow Items for which
<br /> payment of Funds has been waived by Lender and, if I,ender requires, shall fumish to Lender receipts
<br /> evidencing such paymeut 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 covenaut and agreement
<br /> contaiued in this Security Instrument, as the phrase°covenant and a�eemenP' is used in Section 9. If
<br /> Borrower is obligated to pay Escrow Itexus directly, pursuanY to a waivzr, and Barrower fails to pay the
<br /> atnount due for an Escrow Item, Lender may eYercise its rights under Section 9 and pay such amount and
<br /> Borrower shall then ba obligated under Section 9 to repay to Lender auy such axnount Lender may revoke
<br /> the waiver as to any or all Escrow Items at any rime by a notice given in accordance with Secfion 15 and,
<br /> upon such revocation Borrower sball pay to Lender all Funds, and in such amounts, that aze then required
<br /> under t7�is Section 3.
<br /> Lender may, at any time, collect and hold Funds in an amo�mt(a) sufficlent to permit Lender to apply the
<br /> Funds at the time specified under RESPA, and(b)not to exceed the maximum amount a lender can require
<br /> imder RLSPA. Lender shall est�nate the amoimt of Fimds duz on Yhe basis of current data apd reasonable
<br /> estiipatea of eapenditures of furise Escrow Items oz okherwise in accordance with Applicable Law.
<br /> The Funds shall be held in an instihrtion whose deposits are insured by a federal agency, instrumentality, or
<br /> entity(inclucling Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home
<br /> Loan$ank. Lender shall apply the Funds to pay the Escrrnv Items no la#er than the tune specified under
<br /> RT,SPA L,ender shall not chazge Borrow� for holding and applying the Funds, acmually analyzing the
<br /> escrow account, or verifying the Fscrow Items, unless Lender pays Borrower interest on the Fimds and
<br /> Applicable I,aw pemnts Lender to make such a chazge. Unless an a�eement is made in writinn or
<br /> Applicable Law require,interest to be paid on the Funds, Lender shall not be required to pay Borrower any
<br /> interest or earninos on the Funds. Borrower and Lender can agree in writing, however, that interest shall be
<br /> paid on fhe Punds. Lender shall give to Borrower, without charge, an annual aceounting of the Funds as
<br /> required by RESPA.
<br /> . If there is a surplus of Funds held'm escro�v, as defined under RESPA, Lender shall account to Borroa�er for
<br /> the excess funds in accardance with RESPA. Lf there is a shortage of Funds held in escrow, as defined undcr
<br /> RESPA, Lender shall notify Borro�er as requircd by RESPA, and Bonower shall pay to Lender the amount
<br /> necessary to make up thc shortage in accordance with R�SPA, but in no more than 12 monthly payments If
<br /> there is a deficiency of Fuads held in escro�v, as defined under RESPA, Lender shall notify Borrower as
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<br /> NEB�RHSKASingle Family-Fannie f�t ee�Fretldia Mac UNIFORM INSTRU�dENT Fam 3028 1/01
<br /> VM P� VMP6(NE)(�105)
<br /> LValters Kluw er Financial Services Page 5 of 1]
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