|
��1 5���8�
<br /> Any application of paym�nts, insurance prac�eds, �r Miscel�aneous Procee�s to principal due under�he Na�e
<br /> shal�nQt extend or pas�pon�the du�da��, or chang�the amaunt, of th�Per�odic Pa�ments.
<br /> 3. Funds for Escr���Iter��s. Barro��r shail pay�a Lender on�he day Period�c Pa�m�nts ar�due und�r the
<br /> Note, until�he Note is pai�in fuil, a sum(the "Funds"}�o pro�id�for payment of amaun�s due for: �a}�axes
<br /> and assessments a�ad ather ite�ns vvhich can attain priori�y aver this Secur�ty�ns�rumen�as a lien ar
<br /> encurn��ran��an the Proper�y; �b� �easehoid payments or�raund�rents on the Pr�p�r�y, �f any; �c}prern�ums
<br /> for any and a�i�nsurance required by Le�ade�r under Section S; and�d� Mar�gage�nsurance p�rem�ums, if any,
<br /> �r any sum�payab�e by B�rrower�o Lender�n li�u of�he payrn�nt of Mor�ga��In�uranc�premiurns in
<br /> a�~Gor�anc�wi�h the provis�ons of S��tion 1 D. 'These i�ems a�e caiie�. "Escrow��en�." A�originat�on or at
<br /> any t�me during the t�rm of�he Loan, Lender may require�ha�Communi�y As�ociation Dues, F'ees, and
<br /> Assessmen�s, if an�, be escraw�d b�Borrower, and such dues, fe�s and assessments sha��be an Escrow
<br /> �tem. Borrower shall pr�mptly furnish to Lender all natices of amoun�s�n be paid under�h�s Section.
<br /> Borrov�re�sha�I�ay Lender the Funds for EsGrow I�erns unless Lender waives Barro�wer's a�aligat�an to pay
<br /> the Funds for any�r all Escrow I�ems. Lender may waive Borrower's ob�igatian to pay to Lender Funds far
<br /> any or all Es�rovv �tems�t an�t�me. Any su�h wa�ver may only be in wri��ng. In the e�ent flf su�h waiver,
<br /> Borrower sha��pay d�rectly, when and where payab��, the amounts due for any Escrow �tems far wh�ch
<br /> payment�f Funds has been wa��ed by Lender and, if L�ender requires, sha11 furr�ish�o Lender receipts
<br /> e�videncing such payment within such�ime period as Lender may require. Barrower's abligati�n�o make
<br /> such pa�ments and t�prti�ide receipts shall for all purpo�es b�deemed�o be a c�venan�and agr�ement
<br /> con�a�ned in�his Se�uri�y Ins�rumen�, as the phrase "co�enant and agreement" is used �n Sec�zon 9. �f
<br /> Borro�er i�ob��gated to pay Es�ro�v�tems dir�ct�y, pursuan�to a wai�rer, and Bflrr�v�er fails�o pay�he
<br /> amount du�for an Escrow �rem, Lender rna�exercise i�s r�ghts under Sec�ion 9 and pay such amflun�and
<br /> Borrov�er shal�then be abligated un�er Se�ti�n�t�r�pa�r ta Lender any such amount. Lend�r ma�revake
<br /> �he wai�er as ta any or ai� Escrow �tems at any time�y a notice gi�en�n acc�rdance wi�h Se��.ion 15 and,
<br /> upon such re�ocatian, Sorrower sha�l pay to Lender al�Funds, and in such arnounts, that are then requ�r�d
<br /> under this Sectian 3.
<br /> Lender rna�, at any�ime, c�llec�and h�ld Funds in an am�unt�a}sufficient to petmi�Lender t� app��th�
<br /> Funds at the time specified under RESPA, and�b}no�to e�c�ed�he���aximum amount a lender can requir�
<br /> under RESPA. Lender shall estimate the amount af F�nds due on the basis of current data and r�asonable
<br /> �stimates of�xpendi�ures nf future Es�r�w �tems or atherv��se in a��ordanc�wi�h Appl�cab�e Lav�r.
<br /> The Funds shall be he�d�n an inst��ut�on wh�se deposits are insured by a federai agcncy, instrum�nta�ity, or
<br /> entz�y �inG�ud�ng Lender, �f Lender is an ins��tutian whose deposits are sa insured}or�n any Federal Hame
<br /> Loan Bank. Lender shall app��r the Funds to pa�the Escrow ��ems no lat�r than the t�me specified under
<br /> �ESPA. Lender shal�n��charge Borr�vver for holding and ap�lying�he Fun�s, annual�y anaiyzing th�
<br /> �scra�v account, or verif�ring the Es�row Items, un�e��Lender pa�s Borrower�n�erest�n the Funds and
<br /> App�icabie Law perm�ts Lender to make such a charge. Unless an agre�ment�s made�n writ�ng�r
<br /> Ap�Iicable Law requires in�erest�o be paid an the Funds, Lender sha�l no�be required�o pay Borrower any
<br /> in�erest ar earnings an the Funds. BQrro�er and Lender can agree in writ�ng, hovvever, that�n�erest shall be
<br /> paid an�he Funds. Lender shal� give to Borrflv��r, �ithaut charge, an annua�accnunting af the Funds as
<br /> required by RESPA.
<br /> If ther�is a surplus of Funds held in escrow, as defined un�er RESP�., L,�nder sha�l acc�unt to Borr��r�r for
<br /> �he excess funds in accardance with RESPA, If�her�is a shar�age of Funds he�d in escrow, as defined under
<br /> RE�PA, Lender shall na�ify Borrower as requ�red by RESPA, and Borrawer shali pay to L.�nder t��arnount
<br /> nece�sar�to make up�he s�ar�age �n a�cordance with RESPA, bu�in no mo�e than 1�mon�hly pa�ments, If
<br /> there is a d��ciency of Funds�e�d zn es�row, as defined under RESPA, Lender sha1�not�f�B�r�ower as
<br /> NEBRASKA-Single Family-Fanrsi�MaelFreddie Mac tJNIFORM INSTRIlM�NT Form 3�28 11�'I
<br /> VMP� VMPfi[N�}{'�30�)
<br /> Walters Kluwer Financial Ser�ices Page 5 of 17
<br />
|