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Loan No: 790285 Data ID: 388
<br />3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due
<br />under the Note, until the Note is paid in full, a sum (the "Funds ") to provide for payment of amounts
<br />due for: (a) taxes and assessments and other items which can attain priority over this Security
<br />Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the
<br />Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and
<br />(d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the
<br />payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items
<br />are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may
<br />require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and
<br />such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender
<br />all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow
<br />Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items.
<br />Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any
<br />time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly,
<br />when and where payable, the amounts due for any Escrow Items for which payment of Funds has been
<br />waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment
<br />within such time period as Lender may require. Borrower's obligation to make such payments and to
<br />provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this
<br />Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is
<br />obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due
<br />for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower
<br />shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the
<br />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
<br />required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender
<br />to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount
<br />a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of
<br />current data and reasonable estimates of expenditures of future Escrow Items or otherwise in
<br />accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency,
<br />instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured)
<br />or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later
<br />than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the
<br />Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays
<br />Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless
<br />an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender
<br />shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender
<br />can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower,
<br />without charge, an annual accounting of the Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to
<br />Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in
<br />escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower
<br />shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in
<br />no more than 12 monthly payments. If there is a deficiency 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
<br />amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12
<br />monthly payments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly
<br />refund to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which can attain priority over this Security Instrument, leasehold payments
<br />or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if
<br />any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided
<br />in Section 3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless
<br />Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner
<br />acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien
<br />in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's
<br />opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only
<br />until such proceedings are concluded; or (c) secures from the holder of the lien an agreement
<br />satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any
<br />part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender
<br />may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is
<br />given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this
<br />Section 4.
<br />Lender may require Borrower to pay a one -time charge for a real estate tax verification and /or
<br />reporting service used by Lender in connection with this Loan.
<br />NEBRASKA VA DEED OF TRUST Form 3028 1/01 (Page 4 of 11 Pages)
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