|
201403885
<br /> Aiiy�pplicltion of payments, insurance proceeds, or Miscellaneous Proceecls to principal due uncler the Note
<br /> sha11 not extenc�or postpone the clue date, or ch�nge the unoLtnt, oL th�Pe�iodic Payinents.
<br /> 3. Fiilids for Escrow Items. Borrower sh�11 pay to Lender on the day Periodic Payments are due under tlie
<br /> Note, ui�til the Note is�aid in full, a sum(the "Funds")io provide for payinent of aniounts dixe for; (a)taxes
<br /> aucl�ssessme�lts and orher items whicli can attain�riority�over this Security Instrument as a lien or
<br /> encumbrance on the I'r•operty; (b) leasekold p�yments or ground rents on the Property, if any; (c)premiums
<br /> for any and a11 insurance required by Lender LXYdei Section 5; �nd(d)Mortgage Insui�anee preiniuills, if�ny,
<br /> oi• any sums payable by Borrower to Lender in lieu of the paymeilt of Mortgage Insurance preiiiiums in
<br /> accordance with the provisions of Section 10. These iteins are oallec�"Eecrow Tteins." At origination or at
<br /> �ny tirne during tlre terin of the Lo1n, Lender may require that CouulliYnity Association Dues, I'ees, and
<br /> Assessments, if�ny, Ue escrowed Uy Borrower, anci such dues, fees and assessments shall be asi Escrow
<br /> Item. Borrower shall promptly Fiirnish to Lencier a11 notices of anlounts to be�aid under this Sectiion.
<br /> Borrower shall pay Leiider the I'unds for Bscrow Iteins unless Lender waives Borrower's obligation to�ay
<br /> the FLincls for any or a11 Escrow Ttems. Lender inay waive Borrower's obXigation to pay ta Lender Funds fos•
<br /> aiiy or all�scrow Iteins at�iiy time. Any such waiver may olily Ue in writing, In the event of such waiver,
<br /> Borrower sha11 pay directly, whe�i and where�ay�l�le, the amounts due for�ny Escrow Items for which
<br /> p�ymeizt of runds h�s been w�iived l�y Lender and, if Leiider rec�uires, shall furtiish to Lender receipts
<br /> evidencing such payinent within sucli time perioci as Lentler i�ay i•ec�uire. Borrower's obligation to malce
<br /> such payin�nts and to provide receipts sha11 for all purposes lae deeined to�e a covenatzt anc�agreeinent
<br /> cont�ined in tliis �eourity Iilstrument, �s the phrase "covenant and�greement" is used in S�ction 9. IC
<br /> Borrower is obligated to pay Escrow Iteins directly, pursuant to a waiver, �nd Borrower fails to pay the
<br /> asnount due for an�scrow Itei�, I�ender inay exercise its rights Linder Section 9 and pay such a�nount and
<br /> Borrower shall then be ol�ligatecl under Sectioil 9 to re}�ay to Letlder aszy such amount, Lender may revolce
<br /> the waiver as to any or all Escrow Items at any time by a notice givei7 in aceordance with Sectiion 15 a�1d,
<br /> upon such revocatioii, Borrower shall pay to Leiider all Funds, and in such amounts, t11at are then rec�uired
<br /> under this Section 3.
<br /> Lender inay, at arly tiille, collect and hold Funds in�n ainount(�) sufficieilt to permit Lender to lpply the
<br /> I'unds �t th�tiine specifed Linder RESPA, aud(b)not to exceed the�naxiinum amount a lender can rec�uire
<br /> undei•RESPA. Lender sliall estimlte the linount of I'unds due on the basis of current data and reasonable
<br /> estzinates of expenditures of future Escrow Items or otherwise in accordance witli ApplicaUle Law.
<br /> The Punds shall be 11e1d in ar1 institittion whnse deposits are insused by a federal agency, instrttineiitality, or
<br /> entity(i�lcluding Le�der, i�L�nder is 1n institti�tion wl�ose deposits��•e so insured)�or iu any Federal Home
<br /> Lo1n Banlc, Lender sh�ll apply the I'uncls to pay the Escrow Items no later than the tiine specified under
<br /> RLSPA, Lender sha11 not charge Borrower foz holding and applyiiig the runds, aimtaally aualyzing the
<br /> escrow account, or verifying the I;scrow Iteins, unless Leiider pays]3orrower interest on the runds and
<br /> flpplicable Law pernlits Lender to in11�e such a cliarge. Ui�less an�greement is lnade in writing or
<br /> A��licable L�w requires interesl to Ue plid on the Funds, Lendei�shall not Ue required to p�y Boi•rower any
<br /> interest or earnzngs on the Funcls. l3or�•ower uid Lender can agree in writing, howevex, that interest shall Ue
<br /> paic�on the FLtnds. Lendei•sliall give to Borxower, wztlioltt ch�r�e, an annual accounting of the Funds as
<br /> required by R�SPA.
<br /> If there is a sur�ltits of Funds held ii1 escrow, as defned uiiclei•R�SPA, Lender shall account to Borrower for
<br /> t1�e excess funds in accordance with 1t�SPA. If there is a skort�ge of Funds held in escrow, as defined uncler
<br /> R�SPA, Leilder shall notify Bori•ower as require�Uy IZ�SPA, �nd Borrower s11a11 pay io Lender the amount
<br /> iiecessaiy to m�1ce up the shortage in accordance witli R�SPA, Uut in no inore than 12 mailtl�ly payrnents. If
<br /> there is a deficiency of Funds helci ii1 escrow, as defined under 12�SPA, Lender shall notify Boi•rower as
<br /> 2400623II
<br /> NEBR4SKA-Single Family-Fannie MaelFretltlie Mac UNIFORM INSTRUMENT Form 302II 1I01
<br /> VM P O VM P6(NE)(1302
<br /> Wolters Kluwer Financial Services Page 5 of 1�
<br />
|