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� 201211193
<br /> Any applicafion ofpayments, insurance proceeds, or Mlscellaneous Proceeds ta principat due under the Note
<br /> shall not e�end or p�stpone the due date, or change che unount, of the Periodic Payments.
<br /> 3. Fund�for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the
<br /> Note, until the Note is paid in full, a sLun(the"Funds")to provide for payment of amounts due for: (a) taYes
<br /> and assessments and other items which can attain priority over Chis Security Instrumem as a lien or
<br /> encLun6rance on the Property; (U)leasehold payments or groimd rents on the Property, if'any; (c)prcnniums
<br /> far any and all insurance required by Lender under Section 5; and(d) Mortgage Insurance pretniums, if any, .
<br /> os any Slm�s payable by�orxower to Lender in lieu of the payment of 1Vloitgage Insvrance premium�ia
<br /> accordance wifkl the provisions of Section I0. These itessns are called"Escrow Items." At origina"on or at
<br /> any tiine during the term of the Loan, Lender may require that C�inmunity Association Dues, Fees, and
<br /> Assessmerns, if any, be escrowed by Borrower, and such dues, fces and assessments shall be an Escrow
<br /> Item: Botrower shall promptly furnish to Lender all norices of am0unts to be paid undex this Section.
<br /> Boaower shall pay Lender tl�e Punds for Escrow [tems unless Lender waives Borrower's obligaYion to pay
<br /> the Funds for any or all Escrow Items. Lender may waive Borrosver's obligation to pay to Lender Funds for
<br /> any or all Escrow Items at any time. Any sucli waiver may only be in writing. In the event of such waiver,
<br /> Borrower s1�a11 pay directly, when and whe�e payable, the am0unts due for any�sccow ltems for which
<br /> payment of Punds has been waived by Lender and, ii Lender requires, shall fiarnish to Lender receipts
<br /> evidenciug such pa5�ment within such tune period as Lender may require. Barrower's obligakion to make
<br /> such pa}nnents and to provide receipts shall for all purposes be deemed to be a covenanh and agreement
<br /> contained in this Sec;urity Instnunent, as the phrase"covenant and agreement" is used in Section 9. lf
<br /> Borrower is obligated to pay Fscrow Items directly, pursuaut to a waiver, and Borrower fails to pay the
<br /> amount due for an Fscrow Itein, Lender may exercisc its rights under Section 9 and pay such amount and
<br /> Borrower shall then be obligated under Secrion 9 to repay to Lender any such aznount. Lender may revoke
<br /> the waiver as to any or all Escrow Iteins at any rime by a norice given in accordaace with Seclion 15 and,
<br /> upero such revocafion, Borrower shall pay to Lender all Funds, and;n such amnunts, that aze then rcquired
<br /> under this Section 3.
<br /> Lender may, at any rime, collect an$hold Funds in an amount(a) sufficient to permif Leader to apply the
<br /> Funds at the tune specified under RESPA, and(b}no't to exeeed the maxiinuua amount a lender can require
<br /> under RESPA. Lender shall estunate the amount of Funds due on the basis of current data and reasonable
<br /> estimafes af expenditures of future Escrow Items or o[herwise in accordance with Applicable L,aw.
<br /> The Funds shall be held'ui an institution whose deposits are insured by a federal agency, insh nmentality, or
<br /> entity(including Lender, if Levder is an institution whase deposifs aze so insured) or in any Fedetal Iiome
<br /> Loan Bank_ Lendet shall apply the Fimds to pay the Eserow Items no later tliau the time specified imder
<br /> RESPA I,ender shall not charge Borrower for holding and applying the Funds, annually analyzing the
<br /> escrow account, or verifying the Esciow Iteins, unless Lenda pays Borrower interest on the Funds and
<br /> Applicable Law permits Lendcr to make such a chazge. Unless an a�eement is rnade in writing or
<br /> Applicablc Law requires interest to be paid on thc Funds, Lender sha11 not he required to pay Bonower any
<br /> interest ar earnings on the Funds. Borrower and Lender can ag-ee in writing, however, fl�at interest shali be
<br /> paid on the Fuuds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as
<br /> required by RESPA.
<br /> If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for
<br /> the excess fimds in accoxdance with RCSPA. lf therz is a shortage of Funds held in esexow, as def�ned under
<br /> RESPA, Lender sliall norify Borrower as required by RESPA, and Borrower shall pay to Lender the amounf
<br /> necessazy to make up the shorkage in accoxdance with RESPA, but in no mor�than 12 monthly paymenis. If
<br /> fl�ere is a deficiency of Punds held in cscrow, as defined under RTSPA, Lznder shall notify Bczrrower as
<br /> 240a322]
<br /> NE3RASKH-Single Family-Fannie M aelFretltlie fri ac UNIFO Wvl INSTRUlA ENT Form 3028 ',lC i
<br /> ��P� VM Po(Nc7(1105)
<br /> .Molters Klmver Financial Ssrvices Page 5 of 1�
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