|
��14��733
<br /> Any applicat�on�f payments, insurance proceeds, or N�isc���aneaus Proceeds to prin�ipal due under�he Note
<br /> shal�not ex�end ar postpone the due date, or change the amaun�, of the Per�adic Pa�men�s.
<br /> 3. Funds for�scrow Items. �orrower shal�pa�to Lender on th�day Periadi� Pa�ments are due under�he
<br /> Note, until the Nate is paid in fu�i, a sum tthe "Funds"} to provide far paymen��f amounts due for: �a} �axes
<br /> and assessmen�s and o�her�tems wh�ch�an a��ain pri�ri�y o��r�his Security �ns�rumen�as a lien or
<br /> encum�rance�n the Prapert�; �b} leasehflld payments �r ground rents on the Proper�y, if any; (c}prem�um�s
<br /> f�r an� and a�i insurance re�uired b� Lender under Se�t�an 5; and�d} Mor�gage�nsuranc�prem�ums, if any,
<br /> or an� sums payable by B�rro�rer to Lender in l�eu of the paym�nt of Mor�gag�Insurance premiums �r�
<br /> accordance wi�h fihe pro�isians of Section 10. These i��ms are ca�ied "Es�raw �tems." A�flr�g�nation or a�
<br /> any�ime dur�ng the�erm of the Laan, L.ender rnay require that �ommuni��Ass�c�at�an�]ues, F`ees, and
<br /> Assessmen�s, �f any, �e escrowed by B�rrouler, and such dues, fees and assessme��s s�.a���e an Escrov�r
<br /> Item. Borrower shall prompt�y furnish�o Lender a��no�ic�s�f amaunts to be pa�d under this Se�t�on.
<br /> B�rr�wer sha�l pay Len�er�he Funds for�scrow ���ms un�ess Lender waives B�rr�v�er's obii�a��nn to pay
<br /> �he Funds for any�r a�� Es�r�w Items. Lender may vwaive Borrower's obliga�ion t�pay t� Lender Funds for
<br /> any or aII Escrow �tems at any tim�. An}� such wa��er may �nly b�in v�ri�ing. �n the e�r�n�of�uch wa��er,
<br /> BQrr�wer sha��pay d�rect�y, v�rhen and w�ere paya��e, �he amounts due fnr an� �scraw ��ems for vWhich
<br /> payment�f Funds�as been wai�ed by Lender and, �f Lender re�uires, shal� furnrsh to Lender rece�pts
<br /> e�idenc�ng such pa�men�w��hin such��me period as Lender may require. Borrower's ob��gation ta m�ake
<br /> such paymen�s and t�pro��d�receip�s sha�l for a��purpases be deemed to be a c��enan�and agreement
<br /> contained in this Secur�t� Instrumen�, as�he phr�se "co�enan�and agreem�nt" �s used in Se.�tion 9. If
<br /> Borrower�s o�liga�ed to pay Es�row �Yems direct�y, pursuant�o a wa�ver, and Borr�v�er fails�o pay�he
<br /> amoun�due for an Es�rov�r �tem, Lender�rna�r exerc�se i�s righ�s under Sec��nn 9 and pa� such amoun�and
<br /> B�rrower sha�l then be obligated under�ec�ion 9 t�repay t� L,�nder ar�y such amoun�. Lender may re�ok�
<br /> �he waiver as�o any or a11 Escrov►� I�ems at an}��ime by a n�tice g�ven�n ac�ordance wzth Sectian I S and,
<br /> upon such revo�at�an, Borrower sha��pay to Lender a�l Funds, and �n such am�unts, tha�are then requ�red
<br /> under�his Se��ion 3.
<br /> Lend�r may, at any time, co�iect and ho�d Funds in ari amoun��a} suf�cient to perm�t I.�nder�o app�y t�.�
<br /> Funds at the t�me speci�ed under RESPA, and�b} not to exceed the max�murn amoun�a Iender can require
<br /> under RESPA. Lender shall estimate�he arn�.ount�f Funds due on the�as�s of current da�a and reasonable
<br /> est�naates of expenditures of future�scrovv�ten�.s or�the�-v�r�se in accordance v�ith Appii�able Lav�.
<br /> The Funds shall be held in an �ns�i�u�ion whose depasi�s are insured by a f�dera� a�ency, �nstrumen�a����, nr
<br /> en�ity �xnclud�ng Lender, if Lender�s an inst�tution whose depos�ts are so �nsured}ar in any��d�rai Hom�
<br /> Loan Bank. Lender shall app�y the Funds �o pay the Escrow It�ms no�ater than the time specified under
<br /> R�SPA. �.,ender shali not charge Borrower for holding and applying the Funds, annua���ana��zing�he
<br /> escrow account, or ver�fy�ng the Escrovv Item�, uniess I.�:nder pays Borrower interest on�he Funds and
<br /> Applicabie La�v permits Lender to make such a charge, Unless an agr�ement is made�n writing ar
<br /> Appl�ca���Law requ�r�s �n�erest�o be paid on the Funds, Lender�ha11 not be requir�d�o pay Borr�wer any
<br /> �nterest or earnings�n the Funds. Borrower and Lender can agree�n wr�t�ng, hawe�er, �hat in�eres� sha11 �e
<br /> paid on the Funds. Lender sha�� give to Borr�vver, wi�hout�harge, an a�.nua1 account�ng�f th� Funds as
<br /> required by RESPA.
<br /> �f th�re is a surp�us�f Funds h��d in e5crovv, as de�ned und�r RESPA, Lender sha11 account to Borrower for
<br /> th�e�cess funds in accordance with RESPA. �f there is a sh�r�age of Funds he�d in escr�w, as def�ned under
<br /> RESPA, Lender sha11 no�if� Borrower as requ�red b�RESPA, and Borrawer sha��pay�o Lender th�amflunt
<br /> necessary to m�ake up the shor�age in accordance w��h RESPA, but in n�mor��han 1�m�nthly pa�men�s. If
<br /> there is a deficien�y of Funds he�d in escrow, as de�ned under RESPA, Lender shall n��ify Borrower as
<br /> N�BRASK�-SingIe Famify-�annie Ma�IFreddie Mac UNIF�RM iNSTRUMENT Farm 3028 1I��
<br /> VMP� VMPf�N��t13�23
<br /> Wolters Kluwer�inancial Ser�ices Pag�5 of'#7
<br />
|