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<br /> Any 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 the Periodic Payments.
<br /> 3. Funds 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 sum(the "Funds")to provide for payment of amounts due for: (a)taxes
<br /> and assessments and other items which can attain priority over this Security Instrument as a lien or
<br /> encumbrance on the Property; (b) leasehold payments 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 payable by Borrower 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 or at
<br /> any time during the term of the Loan, Lender may require that Community Association 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 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 at 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 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 covenant and agreement
<br /> contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If
<br /> Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the
<br /> amount duo for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and
<br /> Borrower 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 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 amounts, that are then required
<br /> under this Section 3.
<br /> Lender 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 to 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 accordance with Applicable Law.
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or
<br /> entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home
<br /> Loan Bank. Lender shall apply the Funds to pay the Escrow 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 permits Lender to make such a charge. Unless an agreement is made in writing or
<br /> Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any
<br /> interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be
<br /> paid on the Funds. 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 funds in accordance with RESPA, I f there is a shortage of Funds held in escrow, as defined under
<br /> RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount
<br /> necessary to make up the shortage in accordance with RESPA, but in no more than 1 2 monthly payments. I f
<br /> there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as
<br /> 24004274
<br /> NEARASKA-Slagle Family-Fannie M nen addle Mac UNIFORM IN STRUM ENI Farm 3028 1/01
<br /> VMP OO VMPO(NEE)(1105)
<br /> Wolfera Kiuw e,Financial Services Page 5 of I7
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