|
��15�1574
<br /> An�applicat�on of payments, insurance proceeds, ar Miscelianeous Pra�eeds to principa�due under th�Note
<br /> shall not ex�end�r pos�pone the due date, ar chang���e amoun�, of�he Peri�dic Pa}�men�s.
<br /> 3. Funds far Escro�v Iterns. Barra�er sha�l pay to Lender on the day Perzodi�Pa�men�s are due under�he
<br /> Not�, un��� �he N�ote is paid in full, a sum�the "Fun�s"} ��provide f�r pa�ment of amounts due for: �a}taxe�
<br /> and assessmen�� and ather items wh�ch�an at�ain pr�or�ty�ver this Se�ur��y Instrument as a lien or
<br /> encumbrance on the Pr�per�y; �b}�eas�hold payme�a�s�r graund rents on�he Property, �f any; �c}pr�miums
<br /> f�r any and a�l �nsurance required by L,ender under Sec�ion S; and�d} Mor�gage Insurance pr�mium�s, �f any,
<br /> or a�y sums payab�e��Borrower to Lender�n lieu of�he payment of Mar�ga�e Insurance premiums �n
<br /> acc�rdance with�.he pr�vxs�ons�f Sec���n 1�. These items are called "Escrav�r �tems." A�or�gination flr at
<br /> any�ime during�he�erxn flf the Loan, L.ender may requ�re tha�Community Assoc�ation Dues, Fees, and
<br /> Assessm�nts, if any, be escr�wed by Borrower, and such dues, fees and as��ssments sha��be an Escrow
<br /> ��em. Borrower sha11 pramp�ly furn�sh�o Lender a�� natices of amoun�s�n be paid under�his Sec�ion.
<br /> �3arrnurer shail pay L�nder the Fund� for Escraw ��ems unless Lender wa�ves Borra�rer's�bliga��on�o pay
<br /> �he Funds for a�.y�r ali Es�row Items. I.end�r may wa�ve BQrrov�er's�bl�gation to pay�o Lender Funds for
<br /> an�or aII Escrow ��ems at any ��me. Any such v�ai�er may on��r be in�vri��ng. �n the e�ent of such wai�er,
<br /> Borrower shall pa�d�re�t�y, w��n and where payable, the amoun�s due for any Escrow I�ems for whzch
<br /> paym�nt of Funds has been waived b� Lender and, �f Lender requires, s�a1�furnish to I1end�r receip�s
<br /> ev�dencing su�h pay�ment with�n such t�me period as Lender may requ�re. Borrawer's a�lxga�ion�o rna��
<br /> suc�i payments and to pro��de re�e�pts sha�� for ai�purp�s�s be deemed to be a ca�venant and agr�ement
<br /> contained in this S��uri���ns�rumen�., a��he phrase "cov�nant and agreemen�" is used in Sec��on 9. If
<br /> Borrower is obl�ga�ed to pa�Escr�w Items directl�, pursuan���a waiver, and Borro�rer faiis�o pay�he
<br /> amoun�due for an Escrow Item, L.ender may e�erc�se its r�ghts under Sec��on 9 and pa�r such amount and
<br /> Barrov�er sha11 th�n�e ob��ga�ed under Sect��n 9�o repay�o Lender an� such amaunt. Lender may revoke
<br /> �he wa�w�r as ta any or ai� Es�row I�ems a�any��me by a n�t�ce gi�en in accordan�e with Sec�ion 1 S and,
<br /> upon such re�ocation, B�rr�wer sha1l pay to Lender alZ Funds, and in such a�maun�s, tha�are�h�n requ�r�d
<br /> under this Sect�on 3.
<br /> Le�der rnay, at any�ime, collec�and hold Funds in an amount�a} sufficien�to permit Lender to app�y the
<br /> Funds a�the t�m.e specxf�ed under RESPA, and �b}no��o exceed�he ma��mum amount a�ender can requ�re
<br /> under RESPA. Lender shall est�m.a�e�he amoun��f Funds due on the basis of curren�data and reas�nabl�
<br /> es�imates of expenditures of future Escrow ��ems or oth�r�v�se�n accordance with App�icabl�Law.
<br /> The Funds sha�l�e he�d�n an ins�itutiori whase depasi�s are insured by a federal ag�ncy, �ns�rumentali��, ar
<br /> en��ty �including Lender, if Lender�s an�nst�tutxon whQse depos�ts are so insured}vr�n any Federal Home �
<br /> Loan Bank. L�nder sha11 apply�he Funds to pa�r�he Escrow I�ems no Iater�han the�xme spec�fied under
<br /> RESPA, Lender sha11 n�t charge Borrawer for holding and appiying th� Fun�s, annua�l� anai�z�n�the
<br /> escrow acc�un�, or�er�f�ing�h�Escrow Items, un�ess L,�nder pays Barro�ver interes�on the Funds and
<br /> App�x�ab�e Law permi�s Lender�o make such a charge. Unless an agreemen�is made in writ�ng�r
<br /> App��cable La�v r�quires �nter�st�o b�paxd an the Funds, Lender shal� na�be requ�red to pay Barrower any
<br /> �n�eres�or earnings on�he Funds. Borrov�er and Lender can agree in wr�ting, howe�er, tha�interest sha�i be
<br /> paid on the Funds. Lend�r shali g�v�to Barr�wer, w�thout charge, an annua� account�ng af�he Funds as
<br /> r��u�red by R�SPA.
<br /> �f there�s a surplus af Funds he�d in escrow, as de�ned under RESPA, L�nder shal� acc�unt�o Borro�ver far
<br /> �he e�cess funds �n accordance�xth RESPA. Zf�here�s a shor�age of Funds heid in escrow, as��f�ned under
<br /> RESPA, I�er�der sha�� na�ify Borr�wer as required by RESPA, and Borrower shail pay t� Lender the amflunt
<br /> neG�ssary��make up the shor�age in accordance with RESPA, �ut in no mor�than �2 monthly payments. �f
<br /> �here is a de�ciency of Funds he�d in escr�w, as de�ned under RESPA, Lender sha�� not�f�r Borrower as
<br /> NEBRASKA-Sir�gle Family-Fannie Mael�reddie Mac UNIFaRM[NSTRUM�NT Form 3028'�ID1
<br /> VMP(� VMPfitNE)�13�2]
<br /> Wvlters Kfuwer Financial 5er�ices Page 5 0#7 7
<br />
|