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201504333
<br /> First, to the Mortgage Insurauce preiniums ta be paid hy Lender to the Secretary or the inontl�ly
<br /> cl�arge by the Secretary instead of t1�e monthly�nortgage insura»ce prcmiUms;
<br /> Second, ko any taxes, special assessjnents, leasehold payments or ground rents, and tire, #lood and
<br /> other hazard insurince greinitui�s, as required;
<br /> Third, to interest due under the Note;
<br /> Fourth, to ainortization oF the principal of tbe Note; and,
<br /> Fifth, to late charges due under the Nnte.
<br /> Any application of payinents, insuruice proceeds, oa•h2iscellanaous Praceeds to pi•incipal due undCr the
<br /> Note sha11 not extend or postpone Che due dafe, or change the ainount, of the Pexiodic Payrr►enCs.
<br /> 3. Funds for Escrow Iterns. Borrower shall pay to Lender on the day Periodic Payments axe due under
<br /> the Note, until the Note is paid in full, a sum(the "Funds"}to provide for pAymcnt of amounts due for:
<br /> (a}taxes a��d assessments and other item�which can attain prinrity over this Security Instrumeiit as a lien
<br /> or encu��brance on the Pro�erry; (b)leasehald payinents or ground renls on the Property, i�any; (c)
<br /> premiu�ns for any and all ins�u-anc�rec�uired by Lender under Section 5; and(d)Mortgage Insurance
<br /> preiniutns to be paid by Lender to the Secretary or the montl�ly charge by the Secretary insCead of the
<br /> monthly Mortgage Insurance preiniums. `�'hese iteims are called"Escrow Iteins." At origination or al any
<br /> time during the term of the Loan, Lender may require that Coininunity Association Ducs, Fccs, and
<br /> Assessinents, if any, be escr�wed hy Borrower, and such dues, fees and assessments shall be an�.scrow
<br /> Itean. Boa�rower shall promptly furnish to Lender all notices of amounts to be paid under this Section.
<br /> Borrower sha11 pay Lender tha Funds for Escraw Iteins unless Lender�vaives Borrower's obligation to
<br /> pay ihe Funds for any or all E.scrow Iteins. Lender may waive I3orrower's obligation tio pay to Lender
<br /> Funds for any or all Escrow I�ema at any tilne. Any such waiver inay only bE fn writi�g. In the event of
<br /> such waiver, Borrower shall pay dit•ectly, when and where pAyrxblc, thc r�nounts duc for any Escrow
<br /> Ite�ns for which payme��t nf T'unds has heen waived hy J,ender ancl, if Lender reqt�ires, shall fiu-nish to
<br /> I.,ender receipts e�idenoing such payment within such time period as Lender anay require. Borrovver's
<br /> obligation to rnaka such payments and ta provide receipts shall for all purposes be deemed to be a
<br /> covenant and agreement contained in this Security Instrutnent, as the phrase"covenant and agreeinant" is
<br /> used in Section 4. IF Borrow�t•is obligated to pay Escrow Iteins directly, pucsuant to a waiver, and
<br /> Barrower fails to pay the amount dtte far An Escrow Item, �,cndcr inay cxcrcise its rights tuider Section 9
<br /> and p�►y such amnunt and Rnrrower shall then be obLigated under Secfion 9 to repay t��ender any such
<br /> ainount. Lender may revoke the wai�•er as to�ny or alI Escrow Itezns at airy tiine by a notice gsven in
<br /> accord�nce with Section 14 and, upon such revocation, Borrower sl�all pay to Lender ail Funds, and in
<br /> such ainounts, thlt are then raquired tu�der tkazs Section 3.
<br /> Lender inay, at any ti�ne, collect and hold k'unds in an amount(a)sufficient to permit Lender to apply the
<br /> Funds al the tiine specified under RESPA, and(b}not ta exceed kl�e�naxianum arnount a lender can require
<br /> under RESPA. �.e�der sliafl estimate tihe amount of�'unds due on the basis of current data and reasonable
<br /> estinl�tes of expendilures of f'uture Escrow Itetzis or otlierwise i�i accordatic�wilh Applicable Law.
<br /> The P'unds shall be held in an instiCutioi�whose deposits are insured by a federal agency, instnunantality,
<br /> or enCiCy(including Lender, if Lender is an instilution whose deposits are so insured}or in any Federal
<br /> Hame Lom�Banlc. I,ender shall upply Che Funds to ptty thc Escrow Itcros no later than thc tizxte specified
<br /> under RF,SPA. I,ender�hal1 not charge Roxrower for holding and applying the ��mds, tuu�u�lly anaiyzing
<br /> 04515C2956
<br /> FHA�eed of Trust-NE 9l30!2014
<br /> BankersSys[emsrM VMP� VMf'4Fi�NE;(15C2.01
<br /> Woliers Kfuw er Flrtanclal Servloes Page 5 0�1 6
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