2� 15�8�91
<br /> The Funds shall be��eld in an illsti�ution wllose deposits are insured by a fedei-aI age��cy, ii�stt•u��1e���aii�y, oi-
<br /> entity �including Let�der, if Lendei• is an institutian vvhose deposi�s are s❑ ii-�s�.ired�o�- i�� any Federal H.oil�e
<br /> Loan Banlc. Lender shal� a�ply the Funds ta pay tl�e Escrow I�ems na lafiei-t��an�he time s�ecif ed unde�-
<br /> �ESPA. Lende�-shall n��charge Bor�,ow��•f�r }�oldipg and applyii�g the Fui�ds, ai�r�ually ar�a�y2ii�g the
<br /> escro�r ac�aut�t, vr werifying�l�e Esci•ow Ite�i-�s, unless Le��dei-pay� Bort�ow�r intere�t on th� Fu��ds a��d
<br /> Applicable Law permits Lei�d�r to t���i�e sucll a�lYai-ge. Un�ess an agr•eement is inade in wi'1tiI7�❑�"
<br /> Applicavle Law rec�uires i��te�-est to be paid o��t��e F�ii�ds, Le��de�� shall ��ot be rec�ui�-ed�o pay Borr�owe��ai�y
<br /> int�rest o�-earnings ot1�i�e Fund�. Bo�•rower a��d Lei�der cat� agree in ��-itii�g, l�o�e�e�•, th�tt inter�st s��a�l be
<br /> paid or�tl�e Fut�ds. Lender sha�I gi�e t� Bo�-��ovve�-, without cl��i•ge, a�� a��t�u�l accau��tix�g flf the runds as
<br /> re�ui�•ed �y RESPA.
<br /> �f there is a surplus of Fu��ds �7eId in escraw, as defined �i��der F�ESPA, Lender sl�all a�coui�t to Boi-rawer for
<br /> the e�cess funds in ac��rdance vvith RESPA. �f�he�-e is a sh�rtage nf.Funds held it� esc�-�vv, as defii�ed under
<br /> RESPA, Lender sl�ali notify Borrowe�-as requi�•ed �y RESPA, a��d Baz•�-awe�-shall pay ta Lender���e ax��oui��
<br /> necessary to i-r�al��up�1��shortage in accordat��e wit�� RESPA, but i�� i�❑ more t��ai� I? mo��t��Iy pay���e�1�s. If
<br /> �he�•e is a d�ficienGy�f Fui�ds l�eld in escraw, as def�7�d u��de�-RESPA, Le�1d�r s��all notify Bo�-��ovver as
<br /> re�uired by RESPA, and Bot�rower shall pay tfl Le��der the ai7�aunt necessary�❑ mal�e up tl�e def ciency in
<br /> accordan�e�vi�h RESPA, but in no ��-�o�•e��Yar� I2 iz»nthly payr��et��s.
<br /> Llpon �aymen� rt�full ❑f a11 su�ns se�u�-ed vy���is Securi�y Ins�t"L1I11�I7�, Lende�-shall pt•ai��p�ly refund t❑
<br /> Bnrr�vver a�1y Funds he�d by Le��de�.
<br /> 4. �harge�; Liens. Borrawer shall pay aii taxes, assessi���n�s, charges, fines, �.nd impositians a�t�-ibutable�o
<br /> the P�•oper�y which ca�� at�ain priority ��er tl�is Se�u��i�y Ins��-ument, Ieasehold pay��������ar gt•ound r���ts o��
<br /> the Praperty, if any, a�1d Car���i�unity Association Dues, Fees, and Assessn�el��s, if any. T��he ex�ei��that
<br /> tl�ese i�et�-�s are Esc�-aw Items, Borrower-sh�I1 pay�hem in the�nannei• provid�d i�� Sec��oi� �.
<br /> �3�r��ovver shall pron�p�ly dis�harge ai�y lien vvhi�h has pz-iority o�e���his Se�ui�ity �ns�rumet�t ul���ss
<br /> Borrower. �a} ag�•ees ���writing to the payn�ent af the obiigati�i� secci��ed �y the Iiet� ii� a inani�er acce��.�ble
<br /> to Lend�r, �ut o��ly so l�ng as B�rro�reY• is pei•forming suc�� 1gre����e�1t; �b� contes�s�11e liei� it1 g�od fait�� b�,
<br /> or defe��ds against enforc��-��ent of th� lien in, lega� p�-oceeclii�gs whic�� it� Lei�der's❑pininx� ❑pe����e�� pre�vet��
<br /> �he enfarcement of the lien vvhile�hose p�-��eedings are�3ei�dii��, but only ut��il such proceedings are
<br /> conCluded; ar�c} se�ut�es frot»the hoIder•of tl�e l�e�� a�� agre�tne��t sa�isfac�ary to Lender subord�na�ing the
<br /> Iien�o this Security Instrument. If Le��der dete�•mines���at a��y part of the Fraperty is subject to a lie�x v���ic��
<br /> �an attaii� priori�y aver this Se�uri�y Instrument, Le��de�- may gi�e Boa-rowe�-a no�ice identifying�l�e lien.
<br /> �1it�iin 1� days of�I�e da�e on wh��h that notice is given, Boi-�•ovver shal� sa�isfy the lie�� ❑r take�ne❑r m�re
<br /> af�he ac�ions set for�h abo�e in t��is Se�tiot�4.
<br /> Ler�dei•may requir�Borrower�o pay a one-�i�ne charge fo�•a real es�ate tax�e�•if ca�io�� ai�dlor repo�-�ing
<br /> se�-vice used by Lender i�� conn�ctio�� wit��this Loan.
<br /> a. Property lnsurance. Bo��z�ovver shali l�eep the im�ror�e��l�nts 3�ow exis�ing o�� he�•eafter erected oi��he
<br /> Prape��y ir�sured agai��st Ioss by f re, hazards ix��luded w�th�i� the�e�•m "exte��ded covei-age," and ai�y �t��e�-
<br /> hazards ii�cluding, Uu�t�o� liinited t�, ear�l��ualfes and floods, fo�•which Lei�der requiz•�s iilsu�-a��ce. This
<br /> insurance shali �e mait�tained in the amounts �it�ciud�t��deduc�ible levels} and for the periads�:l�a� Lei�der
<br /> rec�uires. 'U�1hat Lender ��ec�uires p�i�-suan�to tl�e pre�edi��g sentei�ces c�n �hai�ge du�-ii�g the�e���i� of the Lo�i�.
<br /> The insur�nce carrier pro�idiY�g�h� i��surance s��ail �e�hosen by Bor�-nwe�-su�jec��o Lei�der's righ��a
<br /> disappro�e Borrower's ���oice, wi�ich right s��ail n��be exe�-cised ui�reasoi�ably. Lender may renui�-e
<br /> Borr�vver ta pay, in �onnection wif�l this Lna��, either: �a} a o����time �harge for f�ood zot�e deterii�ina�i�n,
<br /> certif cation a��d�t-acl�i�lg ser�ices; ox•�1�}a❑t�e-time charge fot•flaod zone dete��ti�inatio�� at�d cer�ification
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<br /> W4lters Kluw�r Fnancial 5�rvices 1�!�T12�15 10:�9 AM Pag�6 nf 17
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