|
��15��55�
<br /> An�appl�ca�xan af paym.ents, insurance prace�ds, ar M�sce�ianeous Proceeds�a prin�ipa� due under the No�e
<br /> sha�� not extend or postp�ne�he due date, or chang�the amoun�, of�he Period�c Payments.
<br /> 3. Funds for Escro►w Items. Borrflwer shal�pay�o Lender an�he day Periodic Payznents are due under the
<br /> Note, un�i��he Note�s pa�d in fu��, a sum.�the "Funds"} to provide for paymen�of amounts due for: �a� �a�es
<br /> and assessmen�s and ath�r�tems which can a�ta�n priorit�o�ver this�ecurity Ins�ru.ment as a lien or
<br /> encumbrance on the Prop�rty; �b} �easeho�d payn�.ents�r ground rents on the Proper�y, xf any; �c�premiums
<br /> for any and a�� insurance requ�red by Lender under Sect�on 5; and �d} Mortgage�nsuran�e premiums, if any,
<br /> or any sums pa�a��e by Borr�wer to Lend�r in lieu of�he payment of Mor�gage�nsurance premiurn.s in
<br /> accordance vvith�he pro��sx�ns of Sec�ion Ia. These��ems are ca�led "Escrow Items." At flrigination or a�
<br /> any tirr�e during�he��rn3 of the Loan, Lender n�ay requ�re�hat Community Associatian Dues, Fees, and
<br /> Ass�ssments, �f any, be es�rawed b�Borrower, and such du�s, fees and assessments shall be an Escrow
<br /> ��em. Borrower sha��promptiy furr�ish to Ilender aii nti�i�es af amounts�o be paid under th�s Section.
<br /> Borrov�er s�all pay Lender the Funds for Escrow I�ems unless Lender wa��ves Borrower's ob�igation to pay
<br /> the Funds for any or a11 Escrov�r�tenzs. L�nder rnay waive Barro�rer's ob���at��n�v pay�o Lender Funds for
<br /> an�or a�i Escrnw ��ems a�any�.ime. An� suc�wa�ver may�n�y be in wrx��ng. �n�he e��nt of such waiver,
<br /> Borrower sha��pay d�rec��y, when and v�here payab�e, the amounts due for any Escrovv ���ms f�r which
<br /> payment of Funds has been vvaived��Lender and, �f Lender requires, shai� furnish�� Lender receipts
<br /> ��idencing such payment w��h�n such t�me periad as Lender may requ�re. B�rr�wer.'s ob���a�ion ta make
<br /> su�h paymen�� and to provi�.e rec�xpts sha11 far a��purposes be deemed to be a c��enan�and agreemen�
<br /> contained in this Security �nstrumen�, as�he phrase "cnvenant and agreement" is used�n Section 9. �f
<br /> B�rra�ver�s�bl�ga�ed�o pay Es�r�v� Items direct�y, pursuant�o a waiver, and Borrower fai�s�o pay�the
<br /> amoun�due for an�scrov� �tem, Lender may exercise its r�ghts under Sec��an 9 and pay suc�amount and
<br /> Borrower sha�l then be o�bXiga�ed under 5�c�ian 9 fo repay to L�nd�r any such amoun�. Lender may revoke
<br /> th�wa�v�r as ta an�r�r alI �scrovv �tems a�.any t�me by a n�t�ce g��en in a�cardan��v�i�h Sec�ion I S and,
<br /> upfln such revoca��on, Borrovver�hall pay to Lender all Funds, and �n such amounts, that are then r�qu�re�
<br /> under�his Secti�n 3,
<br /> Lender may, at any t�m.e, col�ec�and ha�d�und� �n an amount�a} suf��ient�o permit Len�er to apply th�
<br /> Fund� at the t�me spec��ed under RESPA, and�b}n��to exce�d th�maximum amount a lender can require
<br /> under R�SPA. Lender sha��estima�e�he am�unt of Funds due on th.e basis of current da�a and reasonable
<br /> estimates of expenditures�f fu�ur�Escrow �tems or otherwise in accordance w�th Applica�le Law.
<br /> The Funds sha�l be he�d�n an institu�ion whose deposits ar�insured b�a federal agency, instrumen�ality, or
<br /> entity��nc�uding I.�nder, if L�nder is an institu�ion who5e deposxts are so insur�d} or in any Federal Hflme
<br /> Loan Bank. I�ender shall apply the Funds to�ay the Escrflw ��ems no 1a�er than th�t�me spe��fied under
<br /> RESPA. Lender sha11 no�charg�Borr�wer far h��dirig and apply�ng�he Funds, annual��ana�yz�ng the
<br /> escrow acc�unt, or�er�fying�he Es�raw �tems, uniess Lender pays Barrower�nteres�on th.e�un�s ane�
<br /> Applicab�e La�v per�n��s Lender�o mak�such a�harge. C�nless an agreement is made in writzng or
<br /> App��cable La�v requxr�s interes�t�be pa�d on�he Funds, L.ender sha11�.o�be required��pay B�rrawer ar�y
<br /> interes�ar earnings on th�Funds. Borraw�r and Lender can agree in�vriting, hflwe��r, that inter�s�shall be
<br /> paid an the Funds. Lender shall gi�e�o Borr�wer, wi��out�harge, an annuai account�ng af t�e Funds as
<br /> required b�R.ESPA,
<br /> �f�here is a surplus of Fur�ds he�d�n escrow, as def��ed under RESPA, Lender sha11 account��Barrower far
<br /> the excess funds in accordance w��h R.ESPA. �f there is a shortage of Funds�eXd in�scrow, as defined under
<br /> RESPA, L�nder sha11 not�fy Borrower a� requ�r�d by RESPA, and B�rrower sha�I�a��a I.ender the amount
<br /> necessary to ma.i�e up�he shor�age in acco�rdanc�w��h RESPA, bu� in no more��Zan. �.2 monthly paym.en�s. If
<br /> there�s a defxc�en��r of Funds held in�s�rov�, as def�n�d under RESPA, Lender shai�n��ify Barrawer as
<br /> N�BRASKA-Singl�Famiiy-Fannie Mael�reddie Mac IJNf��RM INSTRUM�NT Fvrm 3��8 11�1
<br /> VMP� VMPfitNE}{�3�2)
<br /> Waiters Kluwer Financia!Ser�ices Pags 5 a#7 7
<br />
|