|
��14�3539
<br /> Any app�ication af pa�men�s, insurance proceeds, or M�sceiianeous Proceeds to pr�nczpal due under the N�te
<br /> shal� not ex�end or pos�pone the due date, ar change the anlount, of the P�riadic Pa�m�n�s.
<br /> 3. Funds for Escrov��Items. Borrov�rer shall pay �� Lender on�he da�Periodic Pa�ments are due un�er the
<br /> Not�, un��l the Note is pa�d in fui�, a sum�the "Funds"} to prov�de far pa�ment of amaunts due for: �a} ta�es
<br /> and assessments and a�her��ems vvhich can attain priority a�er�h�s Secur�t� �nstrumen� as a�ien or
<br /> encumbranc�on�he Propert�; (b3 leasehold payments ar ground rents on the Prop�r�y, if any; ���premiums
<br /> for any and a�� insuranc�required by L,�nder und�r Section S; and �d} Mor�gag��nsurance premiums, if any,
<br /> ar any sums payable by Borro�ver�a Lender�n I�eu�f the pa�rment of Mor�gage Insurance prem�ums �n
<br /> accordance with�he pro�iszons�f 5ect��n ��. These��ems are ca�led "�scrovv �t�ms." A�originatiora or at
<br /> an�time dur�ng th�term�f the Laan, Lender may r�qu�re that�ommunity Assoc�a�ion Dues, Fees, and
<br /> Assessments, if an�r, be��cravve�i by Bflrr�wer, ar�d s�ch dues, f�es and assessments sha��be an�scrow
<br /> Item. Barrower sha��promp�ly furnish to L�nder all notices of amounts to be paid under�his Sec��on.
<br /> Borrower shali pay Lender th�Funds for Escrow �tems unless Lender waives Borrower's obligat�on�o pay
<br /> �he Fund�for an�or ai� Escrow I�ems. Lender may v�aive B�rrower's o�liga�ion�o pa� �o Lender Funds fflr
<br /> any�r a�l Es�row Items a�any time. An�r such u�aiver may on�y be�n writin�. �n the e�ent of such wai�er,
<br /> Borrower shai�pa�directiy, when and vvhere payable, the amaunts due for any �scrovv Items for which
<br /> payment�f Funds has b�en wai�ed by Lender and, if L.ender requir�s, sha�l furnish to Lender receipts
<br /> e�iden��ng such paymen� v�r�thin such t�me period as Lender ma� requ�re. B�rrovver's�bl�gation�o make
<br /> �uGh pa�men�s and to pr�vid�r�ceipts shall for all purposes be d�emed to be a covenant and agreement
<br /> c�n�ained in this Securi�y Instrument, as�he phrase "co��nan�and agreement" is used�n Section 9. �f
<br /> Borrav�er is obl�gated to pay Escrow Items�irec�ly, pursuan��o a vvai�er, and Borro�er fa��s to pay the
<br /> amaunt du� for an Escrow �tez�n, Lender may exerc�se��s righ�s under Sect�on� and pay su�h amaunt and
<br /> B�rrawer sha��then be obligated under Sec�ion 9�o repay�o Lender an�such amoun�. Len�er may revoke
<br /> the�va��er as to any or a�� E�crow I�ems at any t�me by a no�ice gi�en in accardance with Secti�n �.5 and,
<br /> up�n such re�oca�ion, Borrawer shal� pay to Lender all Funds, and in such amoun�s, that are�h�n required
<br /> under this Sect�on 3.
<br /> Lender�nay, a�an��ime, colle��and ho�d Funds in an amount �a� sufficient to permit L�nder ta apply the
<br /> Funds at�he��me sp�ci�ed under R�SPA, and �b}no�to e�c�ed th�max�mum amount a lender can require
<br /> under RESPA. Lender sha11 es�imate the amount flf Funds due on�he baszs of current data and reasonabl�
<br /> �s��ma�es of expenditur�s of future Escrow �tems or o#herwise in accordance�zth App�icable Law.
<br /> The Fund� shall be held in an�nst��ut�on whose dep�sits are insured by a federal agency, �ns�rumen�ality, or
<br /> entity ��n��uding L�nder, if L.ender is an institutiori whos�deposi�s are sn insured}or�n an� Federal Home
<br /> Loan Bank. Lender sha1� apply�he Funds�o pay�he�scrow �tems �a later than th�t�rne sp��if��d under
<br /> RESPA, Lender sha�I not charge Borravuer for h�lding and app��rin��he Funds, annually ana�yz�ng the
<br /> es�r�w ac�oun�, �r verif}�ing the Escrow ��ems, un��ss L.ender pays Barrow�r intere��on the Funds and
<br /> App�i�able Law pern�its Lender��make such a charge. Un�ess an agreement is made�n wr�t�n�or
<br /> Applicable Lav� requires interes��a�be�a�d an�he Funds, Lender shall na�be required�o pay Borrower any
<br /> in�eres�or earnings on the Funds. Borravver and Len�.�r car�agree �n v�riting, ho�rever, �hat�nterest shai� be
<br /> pa�d on���Funds. L�nd�r sha�i g�ve ta Borrower, without charge, an annua� accounting�f the Funds a�
<br /> required b� R�SPA.
<br /> �f�h�re�s a surplus of Funds held in escrow, as de�ned under RESPA, I.,�nder shaii account to Borrower for
<br /> the excess funds in ac�ardance w�th RESPA. �f there is a shortage of Funds held in escrov�r, as de�ned under
<br /> RESPA, Lender s�all no��fy Barro�ver as requ�r�d b� RESPA, and Barrower shail pay�a Ler►der�he amoun�
<br /> necessar�ta xnake up the shor�age in ac�ordance wi�h RESPA, �ut in no m.ore than �2 m�nth�y paymen�s. �f
<br /> �h�re is a deficienc�of Funds held �n escrow, as def�ned und�r RESPA, Lender shali notify Borrovver as
<br /> N�BRASKA-5ingte Family-Fannie MaelFreddie Mac UNIF�RM INST#�UMENT Form 3�28 i IOI
<br /> VMP� VMPS[N�i�13021
<br /> Wofters Ktuwer Financiat Ser�i�es Page 5 v#�7
<br />
|