|
2� 1 �� 1715
<br /> Any app�ica�i�n of paymen�s, insurance proceeds, or M�scel�aneous Proceeds to prinGipal due under the Note
<br /> sha�� no�ex�end or pastpon�the due date, or change�he amoun�, of�he Period�c Payments.
<br /> 3. Funds for�5crow Item�. Barrav�er shall pay to Lender on�he day Peri�dic Payments are due und�r�he
<br /> No��, un�i��he Note is paid in full, a sum�the "Funds"} to pro��de for paymen�of arnounts due f�r; �a� �axes
<br /> and assessment� and a�her�tems which�an a��a�n priority over th�s Securit��ns�.rument as a li�n�r
<br /> encumbrance on the Property; �b} leasehold payments or ground ren�s on th�Property, if any; tc}prem.iums
<br /> for any and a�� insurance requ�r�d b�Lender under Section S; and�d} Mor�gage�nsurance prem�ums, �f any,
<br /> or any sums pa�abl�by Borrawer�o Lender in��eu�f�he payment nf Mor�gage�nsurance premiums xn
<br /> a��ordance w��h the pro��s�ons of Sec�ion �4. These items are ca��ed "Escrow Item�s." A���ig�nation or a�
<br /> any��me during�he t�rm of the Loan, Lend�r rnay require that Ctimmunity Associa��on Dues, Fees, and
<br /> Assessments, if any, be escrov�ed b�Borrov�er, and such dues, fees and a�sessments sha11 be an Escrow
<br /> Item. Borr�►�rer s�.al�pr�mp��y furnish�a L�nder a�� not��es�f am�unts ta be pa�d und�r this Se���on.
<br /> B�rrower sha11 pay Lender the Funds far Escr�v�r Items ur�Iess Lender wai�es Borrower's o��igatian to pay
<br /> �he Funds far any ar a.�I �scrovv �tem�. L.ender may waive Borrower's abiiga�xon ta pay ta L�nder Funds for
<br /> any ar ali Escro�v I�ems a�any�ime. An�r such�vai�er may on�y he�n writing. �n�he event of su�h wa��er,
<br /> �3orrow�r shali pay directi�, wh�n and v�her�pa�rable, the amounts due for any�scrow �tems for v�rhich
<br /> paymen�af Funds has been wa��ve�.by Lender and, �f Lender requ�res, shall furnis� to I�end�r receipts
<br /> e�xdenc�ng su�h paym�.en�w��hxn such time period as I.�end�r may requ�re. Borrawer's ob�igation to make
<br /> such paym.ents and to pravide receip�s shal� for a11 purpos�s be deemed�o be a c�venan�and agreement
<br /> �on�ained in th�s SecUrity�nstrumen�, as�he phrase "�ov�nant and agreement" �s used in Sec��on 9. �f
<br /> Borrower is obliga�ed�o pay�scrav� Items d�re��ly, pursuan��o a v�ra�ver, and Borrovver fails�o pay the
<br /> amount due for an Escrow ��em, Lend�r may exercise��s r�gh�s under Sec�i�n 9 and pay such am�unt and
<br /> Borrov�er shall then be ob�igated under Se���on 9�o repa�r�o Lender any such amoun�. Lender ma� re�voke
<br /> the wai�ver as �o any or a1i Escrov� Items at any t�me b�a notiee given in ac�ardance with Sect�on 15 a�ad,
<br /> upon such re�rflcat�on, Borr�wer sha�i pay�� Lender ai� Fun�.s, and in such amoun�s, that are then required
<br /> under th�� Sec��on 3.
<br /> Lender ma�, at any time, co�lec�and ho�d Funds xn an amoun��a} suff�cien��o permit Lender ta apply fihe
<br /> Funds a�the time specif�ed under RESPA, a�d��}not to exceed the ma�.imum amount a�ender can re�uire
<br /> under RESPA. I.ender shall�s�.�ma�e�he amaun�af Funds du�an the basis vf curren�data and reasonable
<br /> es�Xma�es of expenditures of fu�ure Escrow ��ems or o�herwis�xn accordance wi�h App�icable Law.
<br /> The Funds sha�l be held in an insti�u�ion�vhos�depas�ts are insured by a federa� agency, instrumen�ality, or
<br /> en�ity ��nc�udxng Lender, �f Lender is an ins�i�ution vvhose deposits are so�nsured} ar in an�Federal Home
<br /> I.�aan Bank. Lender shall apply�he Funds ta pa�the Escr��r �tems no �ater than th�t��ne specified under
<br /> R�SPA. I.ender�hall nat char�e Borro�rer for ho�d�n� and a�p�yin��he Funds, annuali�r ana�yzing�he
<br /> escravv account, or ver�fying�he Escrov� �tems, un�ess Lender pays Borrower interest on�he Funds and
<br /> App�rcabl�Law permi�s Lender to make such a charge. Unless an agreement is made in writing or
<br /> Applicab�e Lav�r requ�res �nterest�o be paid on the Funds, Lender sha�l not be requ�red ta pay Barro�ver any
<br /> in�eres�or earnings on�he Funds. Borrnwer and L�nder can agre�in wr��ing, hovve�er, tha��nter�st shall be
<br /> pa�d on�he Funds. L,ender sha�� g��e to Barrn�ver, without charge, an annual accounting of�h�Funds as
<br /> requ�red b�R�SPA.
<br /> �f ther�is a surp�us of Funds held in escr�w, as def��ed under RESPA, Lender sha�� acc4u�.��o B�rrower for
<br /> the ex�ess funds in accordance w�th RES�'A. If�here�s a shar�age of Funds held �n escrow, as de�ned under
<br /> RESPA, Lend�r sha�� notify Borrower a�required b�RESPAs and Borrower sha�l pa�r t� Lender�he amount
<br /> ne�essary to m.ak�up�he shor�ag��n accardance with RESPA, but in na more than 12 m�n�hly pa�mer��s. �f
<br /> �a.ere�s a de�ciency�f Funds held in esCrflw, as def�ned under RESPA, Lender sha11 notify B�rravw�r as
<br /> N�BRASKA-Sir�gte�arnily-�annie MaelFreddie Mac UNlFQRM�NSTRIJMENT �orm 3a28�1��
<br /> VMP[� VMP6tNE)�'[3�2�
<br /> Wc�lters Kluwer�inar�ciai 5er�ic�s Pag��of i 7
<br />
|