|
��14�7��1
<br /> Any application of payments, insurance pr�ceeds, or Miscelianeous Proceeds �o princ�pal due under�he Nate
<br /> sha��na�extend or pos�pone the due dat�, or change�he amount, of�he Per�od�c Pa�ments.
<br /> 3. Funds f�r Escro��v Items, Borrower shall pay to Lender an the day Period�c Payment� are due und�r the
<br /> Note, unt�l the N�te is paid in fu��, a sum�the "Funds"} to pr��ide f�r paymen�of am�unts due for: �a3�axes
<br /> and ass�ssxnents and other�tems which can at�ain prior�t���er�his Seeur�ty �nstrument as a lien or
<br /> en�umbrance on the Froperty; ��} �easehoid pa�ments or gr�und r�n�s an the Proper�y, if any; �c}prem�ums
<br /> for any and all insuranc�required by L.ender under Sect�on 5; and�d} M�r�gage Insurance premiums, if any,
<br /> or any sums pa�able by Borrower to Lender in�ieu of the pa�men�af Mor�gage Insurance premiums �n
<br /> ac�ordance with the provisions of 5ec�ion �D. These i�ems are ca�led "Escrow It�ms." At origina��on or at
<br /> any time during the term af th�L�an, Lender rna�require that Commun�t�r Asso�iation Dues, F�es, and
<br /> Assessmen�s, if any, be escrowed by Borravver, and such dues, fees and asse�smen�s shal�be an Escra�v
<br /> �terr�. Borr�wer shall promp�i�furnish to Lender all na�ices of amoun�s to be paid under�h�s 5ecti�n.
<br /> Borrower sha��pay Lender th�Funds f�r�scrow I�ems unless Lender wai�es Borr�wer's abl�gation��pay
<br /> the Funds for any�r aIl Escrow Items. Lender nZay waive Barrower's�b�igation to pay to Lender Funds for
<br /> any or a�� Escr�w ��ems at any time. Any such wai�er may only�e in writ�ng. �n the e��n�of such v�ai�er,
<br /> Borr�w�r shall pay dire��l�r, vvhen and where pa�ab�e, �he a�mounts due for an�Escrow �tems for�h�ch
<br /> pa�ment of Funds has been wai�ed by L.ender and, if Lender requires, sha�� furn�sh�o Lender rece�p�s
<br /> e�iden��n�such pa�ment wi�h�n such time period as Lender ma�require. Borrower's obl�ga�ion to make
<br /> such paynients and�o prov�de receipts shai� for a��purpnses b�deemed to be a c�venant and a�r�em�nt
<br /> contained in this Securit�r �nstrumen�, as�he phrase "co�enant and agreemen�" �s us�� in Sec�i�n 9. If
<br /> Barrower�s ob�igated to pay Escrow �tems dire�tly, pursuan�to a wa��er, and Borrov�rer fai�s to pa��he
<br /> amount due f�r an Es�row I�em, Lender may exercise its rights under Sec�ion 9 and pay such a�m�un�ar�d
<br /> Barrower shail�hen be obligated under Section 9 to repay to Lender any such amount. Lender nzay r��oke
<br /> the wa�Wer as�o any or all Escrov� I�ems at any t�m.e b� a not�ce given in accardance with Sec�ion �5 and,
<br /> upon such re�racat�on, B�rro�er shall pay to Lender all �unds, and in such amounts, �hat are then required
<br /> under this Sec�ion 3.
<br /> Lender may, at any�ime, c���ect and hold Funds in an amoun��a� suff�c�ent��perm�t Lender�a apply the
<br /> Funds at�he t�me sp�cified und�r RESPA, and�b}nat t�exc�ed�he ma��mum amount a Iender can require
<br /> under R.�SPA. i..�nder shail estimate th�amount of Funds due an the basis of curr�n�da�a and reasonable
<br /> �stimates of expenditures of fixture Escrow Items or fl�herwise in accor�.ance w��h Applicab�e Law.
<br /> The Funds shali be held �n an institution whose deposits are insur�d by a federal agency, ins�rumen�al�ty, or
<br /> en��ty t�ncluding Lender, if L�nder is an�nstitu�ion whose�epflsi�s ar�so �nsured} or in any Federa� ��me
<br /> L�an Bank, Lender shal� apply�he Funds to pay the�scrow I�ems na �ater than the�ime sp�cif�ed under
<br /> RESPA. I.ender shall not�harge B�rrawer far holding and app�yxng�he Funds, annually ana�yzing the
<br /> es�rov� a��o�nt, or v�r�f�ing th�Es�row �tems, unless L,end�r�ays B�rrower�n�er�s�on the Funds and
<br /> Applicab�e Lav�r permits Lender to make such a charge. Unless an agreen�en�is made�n wri�ing or
<br /> Appl�cable Lav�r requires xnterest to be paid on�he Funds, Ilender shall not be r�quir�d to pay Borrtiwer any
<br /> in�erest or earnings an��ie Funds. Borr�wer and L.�nder can agree�n wri�ing, ho�re�er, �hat inter�s�sha�l b�
<br /> pa�d�n�he Funds. Lender shall give to Borrow�r, w�thout�harge, an annual accoun�ing of the Funds as
<br /> requir�d by RESPA.
<br /> If�here is a surplus af Funds he�d �n escr�ws as de�ned under RESPA, I..,ender sha��acc�un�to Borrawer f�r
<br /> the e�cess funds in accordanc�with RESPA. If there is a shortage of Funds�.eld in escr�w, as def�ned under
<br /> RESPA, L.ender sha11 not�fy Borrower as required by RESPA, and Borrower sha��pa��a L�nder the am�unt
<br /> n�cessary to ma�e ug�he shortage in a�cordance with RESPA, bu�xn no mare�han I2 m�nthly pa�rmen�s. �f
<br /> there is a defic�ency�f Funds he�d in�scrow, as defined under RESPA, Lender shali natify Borrower as
<br /> NEBRASKA-5ir�gle Famiiy-�ar�nie MaelFreddie Mac UNI�ORM INSTR[JMENT �orm 3�28 1!�'�
<br /> VMP(] VMP6(NE3 ti 3�2�
<br /> Wolters Kluwer Financial Ser�ices Page 5�f'�7
<br />
|