|
��15�1154
<br /> An� app�ica�i�n of pa�ments, insurance proce�ds, ar Miscellane�us Proceeds t�principal due und�r the No�e
<br /> shall not ext�nd or pastpone�he due da�e, or change�he amount, af the Periodic Paymen�s.
<br /> 3. Funds for Escravv Items. Barrower sha�I �ay to L.�nder on the day Per�odic Payments are due under the
<br /> Not�, unti� �he Note is paid in full, a sum{�he "Funds"} to pr�vide for payment of amount�due for: �a��axes
<br /> and assessmen�s and other i�ems which�an attain prior�ty o�ver�his Securit��nstrum�n� a� a�ien or
<br /> encumbrance on the Praperty; �b} �easeho�d payments or ground r�nts on the Proper�y, if any; �c�premiums
<br /> for any and a�� insurance requ�red by Lender under Section 5; a�.d�d} Mor�gage�nsurance premiums, if an�,
<br /> or an� sums payable by Borrower ta Lender in�ieu�f the pa�rmen��f Mor�gag��nsurance�remiums in
<br /> acc�rdance vvi�h the provisions�f�ect�on �0. '�`hes�it�ms are called "Escr�w I��ms." At or�g�nat�on or at
<br /> any time�uring�h��erm of the Loan, L.ender ma�requ�re tha�Cammun�t� Association Du�s, Fees s and
<br /> Assessments, if any, b�escrowed by Borrower, and such dues, fees and a�sessments s�a���e an Escro�v
<br /> I�em. Barr�vsrer shall prompt�y furn�sh�o Lender all notices of amounts�o be pa�d under this Sec�ian.
<br /> Borrower sha11 pay Lender the Funds for Escrow �t�ms unless Lender wai�es Borrower's ob��gat�on to pay
<br /> th�Funds for an��r a�� Escrow Items. I.End�r�m.ay v�ai�e Borr�wer's��liga�ion to�ay to L.�nder Funds for
<br /> any or a�� �scrow ��ems at any time. Any such vvaiver may on�y be in writing. In the e�ent of such�va��er,
<br /> Borrower shall pay directly, �rhen and where pa�able, the amaun�s due for any Escraw Items for whieh
<br /> payment of Funds has been vvai�red by Lender and, �f Lend�r requir�s, sha�l furnish to Lender rec�ipts
<br /> ev�dencing such pa�men�within such�ime period as Lender may requir�. Borrower's obl�ga�ion�o make
<br /> such payments and to pro��de rece�pts shall for all purposes be deemed to be a covenant and agreemen�
<br /> con�ained in th�s Se�urity �nstrument, as the phrase "co�enant and agreement" �s used in Sec�ion 9. �f
<br /> Barrawer is obl�gated to pay Escrov�r ���ms direc��y, pursuant to a ulaiver, and B�rrov�rer fa�Is�fl pay the
<br /> am�unt due for an Escrow Item, Lend�r may exerc�se its rights under Section� and pay such amount and
<br /> Borro�nrer shall �hen be�bl�ga�ed under Sec�ion 9�o r�pay�o Lender any such amaun�. L�nder may revo�e
<br /> �he wa��er as to any or all Escr�w �tems at any tim�b� a no�ice giv�n in acc�rdanc�wi�h S��tion 15 and,
<br /> upon su�h re�ocatian, Borr�wer shall pay t� Lend�r aII Funds, and�n such amounts, �hat are then required
<br /> under thi� Sec�i�n 3.
<br /> Lender ma}�, at any time, colle��and hold Funds in an amoun��a} suff�cien�to permit Lender�o app�y the
<br /> Funds a��he�ime spec�f�ed under RESPA, and�b� n�t �a exc�ed the maximum amoun�a I�nd�r can requ�re
<br /> und�r RESPA. L.ender sha��estimat��he amount of Fund�due on the bas�s of curren�data and reasonable
<br /> es�imates af expend�tur�s of future Escrow ��em� or�therwise in accordance w��h Appi�cable Law.
<br /> The Fun�.s sha�I be held in an ins�itu�ion whase d�pos��s are insured by a federal agen�y, ins�rurx�ental��y, or
<br /> ent�t� �including Lender, if Lender is an ins�itu�ion v�h�se d�posats are so insured}ar�n any F�dera� �orne
<br /> L�an Bank. Lender�ha1� apply��e Funds�o pay the Es�row �tems no �a�er�han�he tim��pe�ified under
<br /> RESPA. Lender shal� no�charge Barrovver for hold�ng and applying�he Funds, annuall� analyzing the
<br /> escrow account, ar�erifying�he Escrow I�ems, unless Lender pa�s Bflrr�u�er in�eres�on�he Funds and
<br /> App�x�ab�� Lav�r permits Lender to make such a�harg�. Unless an agreemen�is made in wri�ing or
<br /> App�icable Law r�qu�res �nterest to be pa�d on the Funds, Lender shal� not be requir�c���pay Borrow�r an�
<br /> �nteres�or earnings�n the Funds. Borrov�rer and L.ender can a�ree in writ�ng, hovve�rer, ��a��nterest sha��be
<br /> paid on the Funds. Lender shall give�o Borro�er, wi�hout charge, an annual accounting of the Funds as
<br /> required by R�SPA.
<br /> If�here is a surplus of Funds held in�scrow, as de�ined under RESPA, Lender sha�l accaunt to BorrovWer for
<br /> the excess funds in accordance wi�h RESPA. �f�here�s a shor�age of Funds held in�scrovv, as defined und�r
<br /> RESPA, Lender shal�n�t�fy Borrower as required by RESPA, and Borrower sha�i pay to �.�end�r the amount
<br /> n�c�ssary�o make up�he shor�age�n accordance with RESPA, but �n no more than 12 manth�y paymen�s. �f
<br /> �her��s a defiGien�y of Funds held in escrovv, as defined under RESPA, Lender sha11 natify Borr�wer as
<br /> NEBRASKA-5ingle�amily-Fa�nie MaelFreddie Mac UN1��RM INSTRUM�NT �arm 3028�l�l
<br /> VMP� VMPfi�NE}��3n2y
<br /> Wolters Kluw�r�inancial Ser�ices Page 5 af i 7
<br />
|