|
��14�175�
<br /> Any application af payrr�ents, insurance praceeds, or Miscellaneous Proceeds to principal due under the I�ot�
<br /> sha�1 not extend or pastpone the due date, or change th� am�unt, of the Periodic Payments,
<br /> 3. �unds for��crow Items. Borrow�r shall pa�to Lender on the day Periodic Payment� are due under th�
<br /> No��, until the No���s paid in fu�l, a sum�th� "'Funds"}to provide for payment of amounts due for: �a} ta�es
<br /> and ass�ssm�nts and other i�ems whic�can attain priority av�r thi� Secur�ty Instrument as a�i�n or
<br /> encumhrance an th�Property; �b} I�aseh�Id pa�men�s or ground r�nts on the Property, �f ar�y; ��}prem�ums
<br /> for any and all insurarice requir�d by Lender under S�ctian 5; and �d} ZViortgage Insurance premiums, if any,
<br /> or ar�y sums payab�e by Borr�wer to Lender in�ieu�f the payment of Mortgage Insurar�ce pre�niums in
<br /> accordance��th the prov�s�ons of 5ection 1.�. Th�se ztems are cal�ed "Escraw Items," At originatiari or at
<br /> an�r time dur�ng the t�rm af the Loan, Lender ma�r r�quire that Comznunzty Association Dues, Fees, and
<br /> As�essments, if an�, be escrowed by B�rr��ver, and such dues, fees and assessments sha�l b�an Escrow
<br /> It�m, Barrow�r shall prompt��furnish to Lender alI n�tices of amaunts�01ae paid under thzs Sec��on.
<br /> Borrower shall pay Lend�r the Fur�ds for Escro�v It�ms unless Lender v�aiv�s Borr�vver's ob�igatzon to pay
<br /> the Funds far any or aII Escrow Items, Lender may�vaive Borrawer's obligation to pay t�Lender Funds for
<br /> ar�y or a11 Es�raw Zterns at any tim�, Any such�vaiv�r may only b�in writing. In the ev�nt of such waiver,
<br /> Borrower shall pay d�rectly, when and where payable, �he am�unts due for any Escr�w Items for which
<br /> paym�nt af Fund� has been Wai�ed by Lender and, �f Lender requires, shall furnish to L�nd�r r�e�eipts
<br /> evzdenc�ng such paymen��v��h�n such txme period as Lend�r may requir�. Borro�ver's obligation to make
<br /> such payments and ta provzde rece�pts sha�� for a��purp�ses be deemed ta be a co�enant and agreem�nt
<br /> �on�ained in this Securi�y Instrunzent 4 as the phrase "co��nant and agreement" �s used in Sect�on 9 a If
<br /> Borrower zs obligat�d to pay Escrow Items directly, pursuar�t to a waiv�r, and Borro�ver fa��s to pa�th�
<br /> amount due for an Escro�v Item, L�nder may e�ercise i�s rights und�r Sec��on 9 and pay such amount and
<br /> Barrower sha11 then be obligated under Section 9 t�repay��Lender ar�� such amount. Lend�r may revoke
<br /> the waiver as to any or all Escrow Items at any time by a natice g�ven in accflrdance with S�cti�n 15 and,
<br /> upon �uch revocation, Borrower shall pay t�L�nder aII Funds, and in such amounts, tha�ar�then required
<br /> under this Se�tion 3.
<br /> Len��r may, at any tixne, collect arid hold Funds in a.n am�unt �a} sufficient to pernlit Lend�r to apply th�
<br /> Funds at the t�m.e spec�fied under RESPA, anci �b) no�to ex�eed the maximum anzount a lender can r�quire
<br /> under RESPA. Lender shall estimate th�amoun�of Funds du� on�he basis of current data and reasonable
<br /> es�ima�es of e�.pend�tur�s of future Escrow ��ems ar oth�rw�se�n accordance�vith App��cable La�.
<br /> The Funds shall be held in an institution whase deposits ar�insured by a federa�agency, �nstrum�nta���y, or
<br /> entity �including Len�ier, if Lender is an institutian whose deposits ar�so�nsured} or in any Federal Home
<br /> Loan Bank, Lender shall apply the Fun�s to pay the Escrow Items no later than th��im�specifi�d under
<br /> RESPA, Lender shall not charge Borrower far ho�ding and applying�he Funds, annually analyzing the
<br /> �scrow a�count, ar ver�f�ing the Es�row Items, unless Lender pa�s Borrower interest on the Funds and
<br /> App��cabX�Law permzts I�ender t�ma.��such a charge. Unle�s an agreem�nt is xnade�n writing or
<br /> App�icab�e Law requir�s in�erest to b�paid on the Funds, Lend�r sha��n�t be r�quired ta pay B�rro�er a�a.y
<br /> int�res��r earnings on the Fund�, Borrower ar�d Lender�an agre��n writing, how�ver, that in�er�st shal�b�
<br /> paid an the Funds, Lend�r shall give to Borr�w�r, �ithout charge, an annual accQunting of the Funds as
<br /> r�quired by RE�PA e
<br /> If there zs a surp�us of Funds h�1d in escr�w, as defined under RESPA, Lender sha��account�fl Borrower for
<br /> th�exc�ss funds in a�cardance with RESP1�, �f ther�is a shortage of Funds held in escrow, as d�fin�d und�r
<br /> RESPA, Lender shall notify Borrower as required by RESPA, and�orrovver shall pay to Lender the amoun�
<br /> necessar�r�o make up the shortag�in ac�ordanc��v�th RESPA, but in no more than 12 rn�nthly paymer�ts P If
<br /> th�r��s a def�cz�ncy of Funds he�d in escraw, as def�ned und�r RESPA, Lender sha�l notzf�Borrower as
<br /> NEBRASfCA-5ingle Famiiy-Fannie Mael�reddie Mac UNfFQRM INSTRUMENT Form 3D28 11�1
<br /> VMP� VMPBfN�}ti 302}
<br /> Walt�rs K[uwer Financiai 5er�ices Page 5�f 17
<br />
|