|
2� 1 ��4�44
<br /> An� app�icat�on af payments, insurance proceeds, or Miscelianeous Praceeds t�principal due under�h�N��e
<br /> �ha�l not extend or postpane the due date, ar change the amount, �f the Per�ndi�Payments.
<br /> 3. Funds for Escrow I�ems. Borrower shail pay�o Lender on th�da� Fer�odic Payments are due under th�
<br /> No�e, unt���h�Note is paid �n fu1�, a sum�th� "Funds"} to pro��de for paymen�of am�unts due for: �a} �axes
<br /> and assessmen�s and�th�r items v�hich can at�ain prior��y over this Security Instrument as a�ien ar
<br /> encumbrance on the Proper�y; �b} leasehoid payments or ground rents on the Property, if an�; (c}premiums
<br /> for any and a�i insuran�e required by Lender under Se�t�on 5; and�d} Mor�gage�nsurance premiums, �f an�,
<br /> or an� sums payable b�Borrov�rer to I.�ender�n�ieu�f the pa�ment of Mar�gage In�urance premiums in
<br /> accordan�e with th�prflvisions�f Section 1�. These���ms ar�ca�ied "Escrow ��ems." At ari��na�ion ar at
<br /> any�ime dur�ng�he�erm af the Loan, Lender may require�hat Communit� Assoc�a�ion Dues, Fees, and
<br /> Assessments, �f any, be es�rowed b�r Borrower, and such dues, fees and assessmen�s shali be an Es�row
<br /> Item. Borrower shal�promp�l� furn�sh�o Lender all no��ces of amoun�s t�b�pa�d und�r this Sec�i�n.
<br /> Borrov�rer sha�l pay Lender�he Funds for Escrow It�ms unless Lender wai�res Borrov�rer's o��iga�ion�o pay
<br /> the Funds for any or a�l Escrow �tems. Lender may�uaive Borrov�er'� ab�igation t�pay to Lender Funds for
<br /> any or all Escrow ��e�ms at an�r time. Any su�h wa�ver may oniy b�in v�rri�ing. �n the e�ent of such wai�er,
<br /> Borrov�rer shali pay direct�y, when and v�here payab�e, the amounts due for any Escrow �tems fflr wh�ch
<br /> pa�ment af Funds has be�n waived b� L�nder and, if Lender requ�res, sha�i furnish to I,�nder rece�pts
<br /> eWidencing such pa�ment wi�hin such�ime period as Lender may require. �orr�v�er's�bl�ga���n to mak�
<br /> su�h�a�ments and��pro��de receip�s shall for all purpos�s be deemed t�be a c�venant and a�reemen�
<br /> con�ained �n�his Se�uri�y �ns�rumen�, as the phras� "�ovenan�and a�reemen�" is used �n Sec�ion 9. If
<br /> B�rr�wer is obl��at�d to pay Escrov� �tenas d�rectl�, pursuan��a a wa���r, and B�rr��nrer fails to�ay the
<br /> amount due for an �scrov�r I��m, Lender ma�ex�rc��� i�s righ�s under Sect���a� and pay such amaunt and
<br /> Borrower shall then be obli�a�ed under Sec�i�n 9�o repa� ta Lender any such amaunt. Lender may revoke
<br /> the wai�ver as�o any or all Es�ro�v ��ems at any time hy a natice�iven�n accordance with Sect�on �S and,
<br /> upon such re�acat�on, Borrovver��al�pa���� L,end�r all Funds, and in such amaunts, tha� are then required
<br /> und�r this Sec��an 3.
<br /> L�nder ma�, at an}� time, co��ec� and ho�d Funds in an amount �a} suf�c�en��o perm�� Lender ta apply�he
<br /> Funds at the time specified under RESPA, and �b} not to exce�d the ma��mum amount a lender can require
<br /> under RESPA. L.ender shall estimate�he amount af Funds due an�he�asis of current da�a and reas�nable
<br /> estima�es of expend�tures of futur� Escrow �tems or otherwise in a�cordance vwith A�pl�cable Law.
<br /> The Funds sha�l be he�d �n an ins�itu�ion vvhose depfls�ts are insured by a federa� agenc�, instrumentali�y, or
<br /> entity �inc�uding Lender, if Lender is an ins�itution vvhose depos�ts are so insured} ar�n any Federa� Hame
<br /> Loan Bank. Lender sha11 apply the Funds �o pa�the Escraw �tem.s na �a��r than�he time specif�ed under
<br /> RESPA. Lender shall no��harge Barrov�rer for holding and appl�ing the Funds, annually anaiyzing the
<br /> escraw accoun�, or�er�fying the Escr�w �tems, unless L.ender pa}�s Borrower int�rest fln the Funds and
<br /> App��cab�e Lavv permits Lender�o make su�h a charge. Uniess an a�reement is made in v�ri�ing or
<br /> App�zcab��Law requires interes�to be paid�n the Funds, Lender shall not��requ�red to pay Borrower any
<br /> in�eres�or earnings on th� Funds. Borrower and L�nder can agree in wri�i�g, hov�rever, that �n��rest shall be
<br /> paid on the Funds. Le�der shal� ��ve�o Bnrrow�r, w�thou�char��, an annuai accaun�ing af the Funds as
<br /> required b� R�SPA.
<br /> If�here is a surplus of Funds heid in escrov�, as d�f�ned under RESPA, Lender sha�� accoun�to B�rrower for
<br /> the e�cess funds in a�cordance w��h RESPA. �f�her�is a shor�age of Fun�s held in escro�vy as de�ned under
<br /> RESPA, L�nder sha��no�ify Borrowe�-as requ�red by RESPA, and BorrovWer shal�pay�v Lender the amoun�
<br /> necessary to make up the shor�age in ac�ordance vcr�th RESPA, bu� in no mor��han l.2 mon�h�y payments. If
<br /> �here is a de�cienc�of Fund�hel�. in escro�r, as de�ned under RESPA, Lender shall not�f�Borrou�er as
<br /> N�BRASKA-5ingte�arni[y-�annie Mael�reddie Mac UNiFaRM fNSTR�M�NT �arm 302$'�109
<br /> VMP QQ VMPfi�NEJ�'[3��f
<br /> Wa�ters Kiuwer Finar�cial 5�r�ic�s Page 5 v��7
<br />
|