|
2� 1 ��3973
<br /> Any applicati�n of payments, �nsurance proceeds, �r M�sce�lane�us Pr�ceeds to prxncipal due und�r�he N��e
<br /> sha�� not�xtend or postpane�he due date, or�hange the amount, �f the Periodic Pa�rmenfs.
<br /> 3. Funds for Escrow I�ems, B�rrower sha��pa��o Lender�n the day Per�a�ic Paymen�s are du�under the
<br /> No��, until �he Note is paid �n fu��, a sum tthe "Funds"} �n�rov��de for paymen�of amoun�s due for: �a}�a�.es
<br /> and ass�ssments and�ther items which can a�tain priori�y�ver th�s Security Ins�rument as a l�en or
<br /> �ncumbrance�n�he Proper�y; �b} �easeho�d pa�m�nts or ground ren�s on�he Proper�y, �f any; �c}pr�m�ums
<br /> for any and a�� �nsurance requ�red�y Lender under S�c��on 5; and �d} Mortgage Insurance prem�ums, if an�,
<br /> or any su�ns pa�ab�e by Borrow�r to Lender�n�ieu of the pa�men�of M�r�gage Insurance premiums ir�
<br /> accordance wi�h the pro�isions of Secti�n �D. These items ar�ca��ed "Escrow Items." 1�t originat�on or a�
<br /> any t�rne durzng the��rm of th�Loan, Lender may require that Ca�nmuni��Ass�cia�ion Dues, Fees, an.d
<br /> Assessments, �f any, b�escrov�ed by Borr�wer, and such dues, fees and asse�sments sha�I be an Escravv
<br /> ��em. Borrower shall promptly furn�sh���:nder a�l r�ntices�f amounts to be pa�d under�his Sec�ion.
<br /> Borrower sha�I pa� Lender�he Funds for Escrow �tems unless Lender waives Barrower's o��iga�ion to pay
<br /> �he Funds for any�r a�l Escrov� ��em�. Lender may wai�e Borr��ver's obliga��on�o pa��o Lender Funds for
<br /> at��or all Es�rov� I�ems af any��me. An�su�h v�raiver may onl�b�zn wr��ing. In�he ev�nt of such wai�er,
<br /> Borrower shal�pay directly, �vhen and wh�re pa�able, �he amaunts du�for any Escrow �tems for which
<br /> pa�ment of Funds has been vva�ved by Lend�r an.d, �f I.ender requir�s, shal� furnish to Lender receip�s
<br /> e�idenc�ng such paymen�w��hin such t�me p�riod as Lender rnay require. Borrovver's obligatian to make
<br /> such payments and ta provide receip�s sha�� for all purp�s�s be deemed to be a co�enant and agreement
<br /> cantained in th�s Security�nstrumen�, as fhe phrase "co�enant and agreement" is used xn Sec��on 9. Zf
<br /> Borrower is�bl�ga�ed ta pay Escraw`Items directl�, pursuant�.o a waiv�r, and Borrawer fails�o pay�he
<br /> amoun�due for an Escrow �tem, Lend�r may�xerc�se�ts rights und�r S�ction� and pay su�h amount and
<br /> Borrower�hall then be abligated und�r Sec�i�n 9 to repay to L�nder any such amount. I.ender ma�re�oke
<br /> the waiver as t� any or all Escrow Items a�any tim�by a no��ce given in accardance vWith Sectian �5 and,
<br /> upan such re�roca�ion, �arrower shall pa�to Lender a��Funds, and in such amoun�s, that are then requ�red
<br /> under�his Sec��on 3.
<br /> Lender may, a�any �ime, �ollec�an.d hald Funds �n an amount�a} suf���ent to p�rm�t Lender�o appl�the
<br /> Funds at�he t�me specif�ed under RESPA, and �b} no�to exceed the max�m�m amount a l�nder can requ�re
<br /> under RESPA. Lender shall estimate�he amount af Funds due an the basis�f current data and reasonable
<br /> �s�xmates of exp�nditures of future Escr�w I��ms ar o�herw�se in accordance w��h Applicable Law.
<br /> The Funds shall be held�n an�nstitut�on whose depos�ts are insured by a federai agency, instrumen�aii�y, or
<br /> ent�����nc�uding L�nd�r, if Lender is an xnstitu�ion wh�s�depos�ts are so �nsur�d} ar in an�F�dera� H�me
<br /> Laan Ban�. Lender sha�l apply�he Funds�a pa�the�scrow ��ems n� 1a�er�han�h�time spe�ified under
<br /> RESPA. Lende�r shall not charge Borr�wer far holding and app�ying the Funds, annua�l� analyzing the
<br /> �scrow ac�ount, or v�r�f�ing�he Escro�r ��ems, un�ess L�nder pa�s Barrower in�erest an�he Fund� and
<br /> Applicab��Law perm�ts Lender�o make such a charg�. Un�ess an agr�ement is made in vvr�t�ng or
<br /> Applicab�e Law requires �n�erest�o be pa�d�n th� Funds, Lender shai� n��be r�quired�o pay Borro�ver any
<br /> in�eres� or earnings an the Funds. Borrower and Lend�r can agree�n wrz�ing, how�ver, that interes�sha��be
<br /> paid on the Funds. Lender shai� g�ve�o Barrower, v�i�hout charg�, an annual a�counting�f the Funds as
<br /> requ�red b�RESPA.
<br /> If�here is a surplus af Funds held in es�r�w, as de�ned under R.ESPA, Lender shali a�count �o Borrower for
<br /> �he excess funds �n accordance wi�h RESPA. �f there is a shortage�f Funds held �n escraw, as defined under
<br /> RESPA, I.ender shal�not�fy Barr�wer as requ�red b� RESPA, and Borr�wer shall pay �o Lender the amount
<br /> necessary��make up the shor�age xn accordance w�th RESPA, �ut �n na more�han ��monthiy paymen�s. �f
<br /> there is a deficiency of Funds he�d in escrow, as def�ned under RESPA, Lender shal� no�ify �3orrawer as
<br /> N�BRASKA-5�ngle Family-Fannie MaelFreddie Mac i.7Ni�QRM INSTRUM�NT �arr�+3�28 11�1
<br /> VMP Q VMPfi�NE}�13�2f
<br /> Wo[ters Kiuwer Financial Ser�ices Page 5 af 17
<br />
|