|
2� 1 ��254�
<br /> Any appiica��on af payments, �nsuran�e pro�eeds, or Miscel�an�ous Proceeds ta pr�ncipa� due under�he No�e
<br /> sha�l n���xtend or postpane th�due date, or change th�amoun�, of�he Per�odic Paymen�s.
<br /> 3. Funds far�scrow Items. Borrower shail pay�o Lender on�he da� P�riodic Payments are c�ue under��e
<br /> No�e, until the No�e is paid in full, a sum�the "Funds"} ta pro�rzde far payment of amaun��due for: �a} �axes
<br /> and assessm�nts and oth�r i�ems whi�h can a��ain priority av�r�his Securxty �ns�rumen�as a���n or
<br /> en�umbrance on the Proper�y; �b} �easehald pa�men�s ar graund ren�s on the Pr�per�y, �f any; �c}premiums
<br /> for any and a�� insurance required�� L.end�r under Sec�ion S; and�d� Mort�age�nsuran�e premiums, if any,
<br /> or an� sums payable by Borrov�er�o Lender in�ieu of�he pa�men�of Martgag�Insurance pr�m�ums �n
<br /> accordan�e w�th the prav�s�ons of Sect�an ].�. These i�ems are ca��ed "Escrovv ��ems." A�originatian or at
<br /> any time dur�ng th�term of the Loan, Lend�r n7ay requi�re tha�Cammunity Assoc�ati�n Dues, Fe�s, and
<br /> Assess�ents, �f any, �e es�rflwed by Borrower, and such dues, fe�s and assessments sha��be an Escrov�
<br /> ��em. Borro�rer sha11 promptl�furn�sh ta Lender al�n�tices�f amounts�a be paid under�his Sec��nn.
<br /> Barrow�r s�a�l pa�Lender the Funds f�r Escrow �t�ms unless Lender wa�ves Barrower's obliga�ion�a pay
<br /> the FundS for any or a11 Escrow Items. Lender may wa��e Borrower's obl�ga��on to pay�o Lender Funds for
<br /> any or a�i ���ro�v �tems a� an�time. Any suc�waiver rna�only�e in writ�ng. �n the ev�nt af such waiver,
<br /> Borrower shall pay d�rect�y, when and�vhere payahl�, �he amounts due for any Escrovv It�ms for wh�ch
<br /> payment of Funds has�een wa�ved by Lender and, �f L�nder requi�es, sha�l furn�sh ta L�nder rec��p�s
<br /> evid�nc�ng such payrn�.ent v�x��xn such��me periad as Lender may require, Borr�wer's obliga�ion�o rnake
<br /> such pa�ments and�a provide re�e�pts sha�l for a1�purposes be deemed to�e a covenan�and agreem�nt
<br /> contained xn this Secur�ty instrum�en�, as the phrase "covenant and agreemen�" xs used in Sec�ion 9. If
<br /> Borrov�rer�s ob�igated�o pa�Escrov�a Items direc���r, pursuant to a wai�er, and B�rrower fa��s�o pay�he
<br /> a�maunt du�f�r a.n�scrQw ��em, Lender may e��rcise��s r�ghts un�er SeCt�on 9 and pay such amoun�and
<br /> Borrawer sha����.en be abligated und�r Sec��on 9�� �epay�o L�nder any such amoun�. Lender�ay rev�k�
<br /> th�wa�ver as�o an�r flr a�l Es�row��em�s at any t�me by a n�t�ce g���n�n acc�rdance vvith Section 15 and,
<br /> upon such revocati�n, Borrov�er shall pay�o Lender a�� Funds, a.nd in such amounts, �hat are th�n r�quired
<br /> under this Section 3.
<br /> Lender may, at any�rrne, collect and ha�d Funds in an am�un�ta} suff�cient�o permit Lender�a apply the
<br /> Fund�a��he�ime�pe�if�ed und�r R.ESPA, and �b} nn���ex�eed the maximum amount a�ender can requir�
<br /> under RESPA, Lender shai� est�rr�ate the arn�un�af Funds due on the basis of�urren�data and r�as�nat�le
<br /> est�ma�es of�xpendi�ures of future Escrow Items or o�herw�se �n acc�rda.�c�wit�App��cable Law.
<br /> The Funds shal�be heid in an�ns�i�.u�x�n whase dep�sits are �nsured by a federal agency, �ns�rumen�al��y, or
<br /> ent��y ��nc�uding Lender, �f Lender is an�nst��ut�on whose depos�ts are s�insured}�r in an.y Federai �ome
<br /> L.,oan Bank. I.end�r sha��appi�the Funds ta pa�r�he �scraw Items no �afi�r than�h��ime spec�f�ed under
<br /> RESPA. Lender sha11 no�charge Borrower far halding and appl}�ing the Funds, annually analyz�ng the
<br /> escraw acc�un�, or�er�fying the Escrovv Items, unless Lender pays Barrow�r interest on the Funds an.d
<br /> App�icable Law pernu�s L�nder to make such a charge. ZJnless an agr�ement is made in writ�ng or
<br /> App1�Ca�ie Lavw requires in�eres���be paid on the Funds, Lender sha��no��e required to pa�Borrower an�
<br /> inter�st or earn�ngs on�he Funds. Borrower and Lender can agree in writing, howe�er, tha�interest sha�l b�
<br /> pa�d on��e Funds. Lend�r shai�give to Borrower, v���hout charge, an annua� ac�ount�ng�f�h�Fund� as
<br /> requ�red by RESPA.
<br /> �f there is a surp�us of Funds he�d �n escrov�, as de�ned under RESPA, Lender sha�� account�o Borrower for
<br /> the exc�ss funds in ac�ordance w��h RESPA. �f there �s a sh�r�age of Funds held in escrow, as defined under
<br /> RESPA, L�nder shai� n�t�fy B4rrower as requ�red��RESPA, and Borrov�r�r shall pay�� Lender�he amaunt
<br /> necessary�o rnake up�he sh�r�age�n accordance w��h RESPA, bu�in no mar�than ��mon�h�y pa�rments. �f
<br /> there xs a de�ciency of Funds h�id in escrow, as d�f�n�d under RESPA, Lender shali no��fy Borrower as
<br /> NEBRASKA-5ingle Family-Fannie MaelFreddie Mac UNIF�RM lNSTRUMENT Farm 3�28 11�1
<br /> VMP� VMPfifN�}t3 302f
<br /> Wolters Kluwer�inanc€a�Services Page 5 of 17
<br />
|