|
2� 1 ��599�
<br /> Any ap�licat�on of payments, insurance pro��eds, �r�is�ei�aneous Proceeds to principa� due under the Note
<br /> sha�I not e��end or postp�ne�he due da�e, or�hang�the am�un�, of the P�riod�c Payments.
<br /> 3. Funds for Escrow I�en�s. Borro�er sha��pay �o L�nder on the da� Periodic Payments are due under the
<br /> Note, until the Nate �s paid in fu�l, a sum�the "Funds"} to provide for payr�aent of amaun�s due f�r: �a} �axes
<br /> and assessmen�s and a�her items v�hich ca�at�a�n priority over this Security I�.s�rumen�as a lien or
<br /> encumbrance�n�he Pr�per�y; �b} leaseh�ld payments or ground rent�on the Prapert�, if any; �c}premiums
<br /> f�r an� an.d ai1 �nsurance requ�red by Lender under Secf��n 5; and �d} N�or�gage Insurance premiums, �f any,
<br /> or any sums pa�abl��y Borrower�o Lender in Iieu�f�he pa�rmen�of Mor�gage�nsurar�c�pre�n�ums �n
<br /> accordance wi�h the provis�ons of Sec�ion I�. These it�ms are called "Escrov� �tems." At arigina��an or a�
<br /> any�im�dur�n�the term of the Loan, Lender may re�u�re tha��omamunity Association Dues, Fees, and
<br /> Assessmen�s, if an�, be e�crowed�y Borrower, and such dues, fees and assessments shall be an Escrow
<br /> �tem. Borrower shall prompt�}� furnish�o I.end�r a�� notices of amounts�o be pa�d under this Sec��on.
<br /> Borrawer s�aa��pay Lender�he �'unds for Escrow ���ms unless Lender vvai�es Barrower's ob�igation to pay
<br /> the Funds fflr any or a1Z Escro� �tems. Lender may�vaive Borrower's abligatian ta pay�a L�nder Fund� far
<br /> any or al� Escr�v� I�ems at any t�me, An� such wai�er may on���e �n writ�ng. �n the event of such v�rai�er,
<br /> Borrower sha�l pay directl�, when and v�ahere payable, the amounts due for any Escrow �tems for wh�ch
<br /> payment af Fu�ads has been waived�� Lender and, �f L�n�er requires, shali furnish�o Lender receipts
<br /> �viden�ing such pa�men�within such t�m.�period as Lend�r may re�uire. Barrower's o��igation�o make
<br /> such pa�ments and to provid�rece�p�s shall for a�� purposes be deemed to be a co�enant and agreement �
<br /> conta�ned in�his Securi�}� Instrument, as th�phrase "covenant and agr�ement" is used in Section 9. �f
<br /> B�rrower is ob�igated to pay Escrow �tems directl}�, pursuan�to a v�ai�er, and Borrov�er fa�is t�pa�the
<br /> am�unt due f�r an Escrow ��em, Lend�r may exer��se i�s rights und�r Sec��on 9 and pa� such amount and
<br /> Borrower shall then be abi�gated under Sec�i�n 9 �o repay �o Lender any such amount. Lender ma� re�oke
<br /> the wai��r as to an�r or aIl Escro�v �tems a� any time�� a notice g�ven xn accordance w��h Sect�on T 5 and,
<br /> upon such revocation, Borrower shaii pay �� Lender all Funds, and in such amounts, tha�are�hen required
<br /> under th�s Section 3.
<br /> Lender may, a�any txme, co�iect and hold Funds in an amoun� (a} suf�c�en�to permit Lender�a appl�the
<br /> Funds at the��m�sp���fied under R�SPA, and�b} nat�a ex��ed the maximum amount a lender�an requir�
<br /> under RESPA. Lender shal�e�t�mate th�amoun�of Funds due on the basis of curren�data and reasanab�e
<br /> es�imates of�xpendi�ures of future Escrow I�ems or otherwise in a��ordance�i�h App��cabie La�v.
<br /> The Funds shall be held �n an�ns�i�ution whose deposits are �nsured by a fed�ra� agenc�, instrumentalit�, or
<br /> en�i�� �including L�nder, if L�nder is an institut�on whose depos��s are sa insured} ❑r in any Federal H�me
<br /> Loan Bank. L�nder shall apply the Funds to pay the Es�row ��ems no Iater�han th��im� specified under �
<br /> RESPA. Lender shal�not charge Borrower for h�Iding and app�ying th�Fund�, annuai�y analyz�ng the
<br /> �scrow accaunt, �r�erifyin� the Escrovv I�ems, unless Lender pa�s Borrower int�rest on�h�Funds and
<br /> Applicahle Lav�r p�rmits Lender�a make such a charge. Unl�ss an agreement is made in wrx�ing or
<br /> Appiicab�e La�require� �nterest ta be pa�d on�he Funds, L.ender shall not�e r�quired�o pay Borrower any
<br /> �nterest or earn�ngs on the Funds. Borrower and Lender can a�ree in writing, hov�re�er, �ha� �n�erest shall be
<br /> paid on�he Funds. Lender shall g�ve ta Borrower, without charge, an annua� accounting of�he Funds as
<br /> required by R�SPA.
<br /> �f there is a surplus of Funds heid in escrow, as de�n�d und�r R�SPA, Lender shail accoun�ta Borrower for
<br /> the excess funds in accordance�ith RESPA. If there �s a sh�r�age af Funds held in es�row, as defined under
<br /> RESPA, L�:nder shall not�fy Borrov�er as requ�red by RESPA, and Borrow�r shall pay�o Lender�he amount
<br /> n�cessar��o make up�he shorta�e in accordance w��h RESPA, but �n n�more�han �.�m�n�hl�payments. �f
<br /> there is a de�c��ncy�f Funds held in escrovv, as de�ned under RESPA, Lender shall notify Borrower as
<br /> NEgRASKA-Single�amily-Fannie MaelFr�ddie M2�c L1NIFORM INSTRIJMENT �orm 3D�8 11D� �
<br /> VMP[; VMP��NE;{�3�2f
<br /> Walters Ktuwer Fir�ancia�5er�ices Page 5 0�17
<br />
|