|
2� 1 ��488�
<br /> Any applicat��n of payments, �nsuranc�proceeds, ar M�sce��aneous Pr���eds�o principal due under the Na�e
<br /> shall no��xtend or postpone the due da�e, ar change�he am�un�, of�he Periodi�Pa�ments.
<br /> 3. Funds for�scrow Items. Borrower sha��pay to Lender on the da� Perio�.i� Pa�ments a�-e due under�he
<br /> Note, unt�l the Na��is pa�d �n fu��, a sum�the "Funds"3 to pro�ide for paymen�af am�un�s due for: �a��a�es
<br /> and assessments and o�her�tems which can atta�n prxori�y�ver�h�s Secur��y �ns�rum�nt as a lien�r
<br /> en�umbranc�on the Proper�y; ��} �easehold paymen�s or ground ren�s an th�Property, �f any; �c}prem�ums
<br /> far any and a�l insurance r�quired by Lender under Se���on S; and �d} Mortgag�Insuran�e prem�.ums, xf any,
<br /> or a�z� sums payable by Borrower to Lender�n�ieu af the payment of Mortgage Insuranc�pren�.�ums �n
<br /> accordanc�wxth the prflv�s�ons of Secti�n I�. Th�se i�ems are�a��ed "Escrow Xtems." At arigina�ion or at
<br /> any time dur�ng the term of�he Loan, Lender ma�require that Commun���r Assoc�at�on Dues, Fees, and
<br /> Assessments, if an}�, be escrowed b�Borrower, and such dues, fees and assess�m.en�s sha��be an Escrow
<br /> ��em. Borrower sha�l promp�l�r furnis�.�o Lender a�� n�t�ces af am�un�s ta�e pa�d under this Section.
<br /> Borrawer shali pay Lender�he Funds far Escraw ��ems unless Lend�r wa���s �arrower's obl�ga�ion�o pay
<br /> �he Funds for any ar a�� Escrow ��ems. Lender may vva��e B�rrav�er's abl�gation�o pay�o Lender Funds far
<br /> an�or a�i Escrow Items a�any t�me. An� such vva��er may on��be in writing. In�he��ent of such v�raive�,
<br /> Borrawer sha��pay direc�ly, vvhen and where pa�rable, t�e amounts due for any Es�row ��ems for vvhich
<br /> paymen��f Funds has been waived by Lender and, �f Lender requ�res, shall furnish�o Lender rec�ip�s
<br /> e�idenc�ng such paymen�within such�ime peri�d as Lender may require. B�rrower`s ob�iga��an to make
<br /> such payments and�a pro�ide rece�pts sha1� for aIi purp�ses be de�med to be a covenant and agreement
<br /> contained in this Secur�ty Ins�rument, as the phrase "co�enan�and agreemen�" �s use�. in Section 9. If
<br /> B�rrawer�s a��igat�d�o pay Escrow Items d�r�ctly, pursuant ta a v�ai�er, and Borrower fa�ls ta pay�he
<br /> amaunt due for an Escrow �fiem, Lender may exerc�se i�s r�ghts under Section 9 and pay such amount and
<br /> Barrow�r sha��then be obl�gated under Sec��on 9 to repay�� I.�nder an� such amount. Lender ma�re�oke
<br /> the�raiver as�o any nr a1� Escrow Item� at an�r time b� a nat�ce g��en �n accardar�ce with Sec��on 15 and,
<br /> upan su�h re�oca�ion, Borrower shall pay to L�nder al� Funds, and in su�h am�unts, �hat ar�then required
<br /> under�his �e�tinn 3�
<br /> Lender may, a�any�xme, co�iec�and hald Funds �n an amoun� �a} suf�czent to permit L�nder�o apply the
<br /> Funds a��he�ime specif�ed under RESPA, and �b}no�to e��eed the maxzrnum amaunt a lender can r�quire
<br /> under RESPA. L�nder shaii est�ma�e th�am�unt of Funds due on the basis af curren�da�a and reasonable
<br /> es�imates of�xpenditures flf fu�ure Escrow �tems or oth�rw�se in accardan�e with Applicable Law.
<br /> The Funds shall b�held in an�ns�itution whose d�posits ar� insured by a fed�ral ag�ncy, ins�rum�n�aix��r, or
<br /> �ntity �inciuding Lender, �f Lender�s an�nstitu�ion whase d�pns��s are so �nsured}or in an}� Federa� Hame
<br /> L,�an Bank, Lender shali apply�he Funds to pay�he Escro� ��em.s no �a�er than the tim�specified under
<br /> RESPA. Lender sha��no�charge Borrav�er for ho�d�ng and app�ying�he Funds, annuaily ana�yzing�he
<br /> escrow account, ar verifying�he Escrow I�ems, unless Lender pays Borro�nrer in�eres�on�he FundS and
<br /> Applicab�e Law permits Lender to make such a charge. Unless an agreement �s made�n writing or
<br /> Appl�cabie La� requires interes��o be paid on the Funds, I.�nder sha�� no�be re�uired �o pay Borrav�er any
<br /> �nteres�or earnings on th�Funds. Borrow�r and I.�nder can agree in writ�ng, hov�rever, tha� in�erest shal�be
<br /> pa�d on the Funds. Lender shai� gi�e to Borrower, w�thout charge, an annual accaunting of the Funds as
<br /> required b� RESPA.
<br /> �f�here is a surplus af�unds held �n e�crow, a�de�ned under RESPA, Lender shall account ta Borrawer for
<br /> �he ex�ess funds in aGcordance with RESPA. �f�here is a shor�age of Funds held in escrow, as def�ned under
<br /> RESPA, Lender shall na�ify Borrower as required b�RESPA, and BarrQv�rer sha��pay �o Lender th�amount
<br /> necessary ��make up�he shor�age�n accardance w�th RESPA, but xn no more than �2 monthiy payments. If
<br /> ihere is a def�ciency af Funds heid�n escrow, as def�ned und�r RESPA, Lender sha�I notify Borrower as
<br /> N�BRASKA-5in�fe�amily-�annie MaelFreddie Mac UNIFQRM tNSTRUMENT Form 3��5 11�1
<br /> VMP Q VMPS�NE}ti 302)
<br /> Wolters Kluwer�inancia�5er�ices Page 5 a#7 7
<br />
|