201601810 - Laserfiche WebLink

Browse

2� 1 �� 181 � �. Applicat�flnof Payments vr Pro�e�ds.Except as expr�ssiy�tat�d otherw�se in this Security Instrument or the Note,a11 payments accepted and applied by Lender�ha11 be applied in the follovving order of priority: Firs�,to the Martgage InsuranGe prem�ums to be paid by Lender to the Secretary or the manthly charge by the Secretar�y instead of the monthly martg�.ge insurance premiums; Second,to any taxes, specia�as�essments,leasehoid payments or ground rents,and fue,flood and other ha�ard insurance premiums,as required; Third,t�o interest due under the�Note; Fourth,t�amortization of�he princ�pal af the Note;a�.d, Fifth,to late charges due under the N�te. Any appli�ation of payments, insurance proceeds,or Miscellaneous Froceeds to principal due under�he Nate sha�l not extend or pos�pone the due date,or change the amount,af the Periodic Payments, 3, Fundsfor�Escrow Items.Borrawer sha11 pay t�Lender on the day Periodic Payments are due und�r the Not�,until the Note is paid in full,a sum(the "Funds")ta provide for paymen�of amounts due for: �a)taxes and assessments and other items which�an attain priar�ty over this Se�ur�ty Instrument as a lien or encumbrance on the Frflperty;(b}leasehold payments or ground rents on�the Propert�r, if any; (c} prem�ums for any and atl�nsuran�e required by Lender under Section�;and(d}Martgage Insurance premiums to b�pa�d by Lender�a the S�creta.ry or the monthly charge by the Se�re�ary instead of the monthly 1Vlortgage Insurance prem�ums. These�tems are called"Escrow Items."At origination�r at any time during the term of the Loan,Lender may require that Community Association Dues,F��s,and Assessments,if any,be escrowed by Borrower,and such dues, fees and assessrnents sha11 be an Escrotiv Item,B�rrower sha11 pramptly furnish to Lender�t�notices of amnun.ts to b�paid under this Section. Barr�wer sha11 pay Le�der the Fu�ds far�scrow Items�n�ess Lender�ai��Borr�u��er's obligation t� pay the�'unds f�r any or all Es�ro�v Items. Lender may�vaive Borrower's o�ligation to pay tv Lender Funds for any or aIl Escrow I�ems a�any time.Any su�h waiver may only be in writing. Ir�the even�of such waiver,Borrower slaall pay directly,vvhen and where payable,�he amounts due for any�scrow Items for tivh�ch p�yment of Funds has been wai�ed by Lender and, if Lender requires, sha�t fumish to Lender receipts evidencing such payment�vithin such time period as Lender may r�qui.re. Barrower's a�ligation to ma1�e suc�payments and to prov�de receipts shall for a11 purposes be deemed to be a ca�enant and agreement�ontained in this�ecurity Instrument,as the phras�"covenan�and agre�ment" is used in Seetion 9. If Borrower i�obl�ga�ed to pay Escrow Items directly,pursuant to a wai�er,and Borrower fails ta pay the amoun�due for an Escrow Item,Lender may exercise it�rights under�ectian� and pay such amount and Borrower shall then be abligated under Section 9 to repay to Lender any such amount.Lender may re�oke the waiver as to any or aIl Escrav�I�ems at any time by a no��ce given in aceordance with Section 14 and,upon such revocation,B�rrower sha11 pa}�to Lender aIl Funds,and in such amounts,that are then required under this Section 3. Lender may, a�any time, co��ect and ha�d Funds in an amount(a}sufficient to permit Lender to app�y the Funds at the time s�ecified under RESPA, and�b)not ta ex�eed the maximum amount a lender can require under RESPA. Lender sha1�estimate the amount of Funds due an the basis of current data and reas�nable estimates of expenditures of future Escro�Items or otherwis�ra accordance with App��cable Law. FHA❑eed of Trust WitF�MERS-NE 9/30/2414 Bankers Systems�++ VMP� VMR4N�NE][1506).44 Wolters Kiuwer Frnancial Services Page 5 af 97 qU3351�94Z19 4�33 293 �5i7