|
��15�3917
<br /> An� appiication af payments, insuranc�prace�ds, or M�sc�I�aneous Proceeds�o princ�pa� due und�r the Note
<br /> shall not extend or p�s�pon��he due date, or change�he amoun�, of�he Per�odic Payments.
<br /> 3. Funds f�r E�crowv I�ems. Borrow�r shall pa��o L�ender on�he day Per�odic Pa�ments ar�due under the
<br /> Note, un��l�he Note is pa�d in full, a sum�the "Funds"} to pro�ide for payment of amounts due for: �a} tax�s
<br /> and assessrnents and other��ems which can attain priori�y o�er this Se�urity Ins�rument as a�ien or
<br /> encumbran�e on�he Proper�y; �b} leasehold payments �r gr�und ren�s on the Proper�y, �f any; �c} pr�miums
<br /> for any and ali insurance requ�red�y I..�nder under Sec��on 5; and �d} Mar�gage�nsuranc�premiums, if an�,
<br /> ar any sums pa�ab�e by Borrow�r�o Lender in lieu of th�paymen�of Mortgage�nsurance premiums in
<br /> accordan.ce w��h the pravisions�f Section ��. These��ems are cal��d "Escr�w Items." At orig�na��an or at
<br /> an��ime during th�term of the Loan, Lender m�ay requ�re�hat C�mmun�t� AssaG�a�ian Dues, Fees, and
<br /> Assessments, zf an�, be escrawed by Borrower, and such dues, fees and assessm.en�s shali be an Escrfl�r
<br /> �tezx�. Borrower shall promptly furn�sh to Lender a11 not�ces of amoun�s to�e paid under this Sect�on.
<br /> Barrow�r shall pa� L,�nder the Funds for Escraw �tems unless Lender wa�ves Barrovver's obl�gat�on�o pay
<br /> the Funds for any or a�i Es�row �tems. Lender may wai�e Borrow�r's abliga�ion�o pay to Lender Funds for
<br /> any or a�� Escrow �fiem.s at an�r�ime, Any suGh waiver may anl��e in wr�t�ng. �n�he e�en�af such wai�er,
<br /> Borrower�ha�l pay dir�c��y, v�hen and where pa�ab�e, the amaun�s due fflr any Escr��r �tems for which
<br /> payment of Funds has been wa�ved�y L.ender and, if Lender requires, shall furnish�o Lender receip�s
<br /> ewi�.encing such payment wi�hin such time period as Lender may require. Barrow�r's abligation ta make
<br /> such pa�ments and�o pro�ide re���pts shall for a��purposes be deemed �o be a co�enant and agreernen�
<br /> �on�ain�d �n�his Se�ur�ty Instrument, as the phras� "covenant and agreemen�" is used in Se�t�on 9, If
<br /> Borrov�rer�s obligated to pa� Escrow I�ems directly, pursuant to a�aiv�r, and Borrower fai�s to pa}�the
<br /> amoun�due for an Escrow Item, Lender ma���ercise i�s r�ghts under Sect�on� and pay such amount and
<br /> Borrower shall �hen be obliga��d under Sect�on 9 to re�ay to Lender any suGh am�un�. Lender m.ay revoke
<br /> the wai�er as�o any or a11 EsGrow ��ems at any��me by a notice gi�en in accordance with Se�t�on 15 and,
<br /> upfln such re�ocat�on, Barrower�ha��pay to Lender al� Funds, and �n such amaun�s, �ha�are then requ�red
<br /> under�his Se���on 3.
<br /> I,end�r may, a�ar��time, c���ec�and hold Funds in an amount�a} suf��cien��o permi.�Lender to app�y the
<br /> Funds a�the t�n�.e specified und�r RESPA, and��} no�to exceed�he maximum amount a Iender can require
<br /> under R�SPA. Lender shall�stima��the arnoun�of Funds due on the basis of curren�da�a and reasonab�e
<br /> es�imates of expend��ures of future EsCr�w ��ems or otherw�se�n accordance w�th Applicable Law.
<br /> The Funds s�a��be held in an�nstitution who��depos��s are �nsured�y a federal agency, instrumenta�i�y, or
<br /> en�ity �including Lender, if Lender is an�nsti�ution whose deposi�s are so�nsured}�r�n any Federai Home
<br /> Loan Bank. Lender sha1l apply�he Funds to pay �he�scrow �tems na �a�er�han the tirne spe��f�ed under
<br /> RESPA. Lender sha�l no�charge Borrower for hoiding and applying th�Funds, annually analyzing�he
<br /> escr�w ac�ount, or�erifying the Escr�w ��ems, un�ess Lender pa�s Borr�v�er in�er�st on�he Funds and
<br /> App�icable Law permits Lender tn n�ake such a charge. Un�ess an agreement�s made in writ�ng�r
<br /> Appi�cabl�Law requ�res interes�to be paid on�he Funds, L,end�r shal� not be required to pay Borr�wer any
<br /> �nterest ar earnings on�he Funds. Borrower and Lender can agree in writing, howe�er, that in�erest shal�be
<br /> paid on the Fund�. Lender shall gi�e�a Borrower, wi�hout charge, an annual account�n�of the Funds as
<br /> required by RESPA.
<br /> �f there is a surplus of Funds held in�scrow, as defined under RESPA, L�nd�r shai� account�� Borrower f�r
<br /> the exc�ss funds in accordance w�th RESPA. �f�h�re is a shortage of Funds held in escrov�r, as de�ned und�r
<br /> RESPA, Lender shall not�fy Borrower as required by RESPA, and��rrow�r shal�pay�o Lender�he amount
<br /> necessary ta�nake up�he shortage in ac�ordance with RESPA, �u� in no m�re than 12 month��payments. �f
<br /> th�re�s a deficiency of Funds heid �n escraw, as de�ned under RESPA, Lender sha�� n���fy Bflrrower as
<br /> N�BRASKA-5ingfe�amity-�annie Mael�reddie Ma�UNiF4RM iNSTRUMENT Form 3028 11�1
<br /> VMP� VMPfi�NE��73�2�
<br /> Walters Kluwer�inancia!Ser�i�es Page 5 of 17'
<br />
|