|
2� 1 ��� 12�
<br /> Any app�ication af payments, insuran�e proceeds, or Misc�llaneous Proceeds tn principa�due under the No�e
<br /> shall n�t ex�end ar postp�ne�he due da�e, or change�he amount, of the Peri�dic Payments.
<br /> 3. Funds far Escraw I��nns. Borrnwer shai�pay�a Lender on the day Periadic Paymen�s are due under�he
<br /> Note, un�il�he Note is paid in fu1�, a sum�th� "Funds"} t�pro�ide for pa�men�of amoun�s due for: �a� �axes
<br /> and assessmen�s and o�her i�ems vvhi�h�an a�tain priority��er�his Secur��y�nstrumen�as a Iien or
<br /> encum�rance on�he Proper�y; (b} �ea��hold payments �r�round rents on�he Pr�perty, �f any; ���premiurns
<br /> for any and a�I insurance required by L�nder under Section 5; and �d} M�r�gage�nsurance premiums, if any,
<br /> or any sums pa�a��e�y Barrower to Lend�r in�ieu of the payment of Mor�gage�nsuranc�premiums �n
<br /> acc�rdance w�th�he provisions of Section 1D. These��em�s are called "Escraw �tems." At orig�na�ion or a�
<br /> any�ime during�he term of�he Loan, Lend�r may requ�re�hat�ammun�ty Associat�on Dues, Fees, and .
<br /> Assessmen�s, if any, �e escrowed�y Borrower, ax�d such dues, fees and assessments sha�I be an�scr�w
<br /> ��em. Borrower shail promptly furnish t� Lender all no�zces of amounts to be paid under this Section.
<br /> Barrower sha�i pay Lender the Funds for�scrov�r Items un�ess Lender�aives Borrow�r's ob�i�a��an��pay
<br /> the Funds for any or aIl Escrovw �tems. Lend�r may wai�e Barrflwer's obl�ga�i�n�o pa��o L,�nder Funds far
<br /> an�or a�� Escra�►r �tems a�any time, An� such wa��er may onl�b� in v�rritin�. �n the e�ent of such waiver,
<br /> Borrovver shal�pa�dir�c��y, v�rhen and�vhere payable, �he a�moun�s due for any Escrow �tems for vv�ich
<br /> paymen�of Funds has been vwaived b� I.ender and, if Lender requ�res, sha�� furnish to L,ender rece�pts
<br /> ev�dencing such payment within such t�me period as Lender ma� require. Bnrr�wer's obligation�a make �
<br /> such paymen�s and tn pr��ide r�ceip�s sha�� for aII purpose�b�deemed �a be a co�enan� and agree�nent
<br /> �ontained �n th�s 5ecuri�y �nstrumen�, as th�phras� "c��enant and a�,r��men�" is used in 5ec�ion 9. If
<br /> Borrov�r�r is ohliga�ed to pay Escrov� Items d�rec���, pursuant �o a vvaiver, and Borrower fai�s ta pay the
<br /> amount�ue for an�scrow �tem, Lender ma�exercise �ts ri�hts under Sec�ion g and pay such amount and �.
<br /> Borrovver shal� then�e obliga�ed under Section 9 to r�pay to Lender any such amount. Lender may r�voke
<br /> the wai�er as�o an� or aIl Escrow I�ems at any�ime by a notice given in accflrdan�e v���h Sec�ion 15 and,
<br /> upon suc;h revoca�ion, Borrower shal�pay to Lender ail Funds, and in su�h amnun�s, that are�hen r�quired
<br /> und�r th�s Sec�ian 3.
<br /> Lender may, at an� t�me, c�llect and ha�d Funds �n an am.ount�a} suf��cient to perm��Lender to app�� �he
<br /> Funds at�he time sp�cificd under RESPA, and�b} no��o exceed the max��num amaun�a lender can r�quire
<br /> under RESPA. Lender shal�estimate the amaunt of Funds due on�he bas�s of curr�nt da�a and reasonab�e
<br /> es�ima�es of expenditures of future Escrow Items or a�her�vise�n accordance wi�h Applicable Law.
<br /> Th�Funds sha�l be h�ld�n an inst��ution whose deposi�s are insured by a federa� agency, instrumental��y, nr .
<br /> enti�y �inciuding I�ender, if Lender is an insti�u�ion v��h�se deposits are so insured} or in any Federal Home
<br /> Laan Bank. Lender shai� apply th�Funds to pa� the Escravw ��ems no later�han the�ime specified under
<br /> RESPA. Lender sha�� not charge Borrower for holding and appl�ing the Funds, annually ana�yzing the
<br /> escraw account, or v�r�fyzng �he Escr�vv Items, un�ess Lender pays Borrower in�er�st on the Funds and �
<br /> Applicable LavW permits Lend�r to mak�such a charge. Unless an agreement is made�n wri�ing or
<br /> AppliGa�ie Law requires �n�erest�o be pa�d on�he Funds, L�nder shal� not h�requ�red to pay Borr�wer any
<br /> interest or�arnings on the Funds. Borrav�er and Lender can agre�in v�rit�n�, hawever, tha� �nterest shaii b�
<br /> paid on�he Funds. Lender shal�give to Bflrrow�rs w��hou�charge, an annual accounting of th�Funds as
<br /> �-equired b�r RESPA.
<br /> �f�here is a surplus of Funds he�d in es�row, as d��ned under RESPA, L�nder shall accoun�t� Borrower for
<br /> �he�xcess funds �n accordan�e wi�h RESPA, If�here is a shor�age of Funds�e�d�n escrow, as defined under
<br /> RESPA, Lender shall n��ify Borrower as required�by RESPA, and B�rro�v�r shail pay to Lender the amaunt
<br /> necessary �a make up th�shor�ag�in a�cordanc�w�th RESPA, bu� in no more than I�n�onthiy payments. �f �
<br /> th�re�s a deficiency of Funds heid in�scrow, as def�ned und�r RESPA, Lender�ha1l no�ify Borrou�er as
<br /> N�BRASKA-Singte�amiEy-fannie Mael�reddie Mac UNIFDRM 1NSTRUM�NT Farm 3Q28 11�i
<br /> VMP� VMPS{NE1 t1302�
<br /> Wolters Kluwer Financial Ser�ices Page 5 of l 7
<br /> �
<br />
|