|
2� 1 ��73��
<br /> Any app�i�ation of�aymen�s, insurance pr��eeds, or Misc�llaneous Praceeds to principa� due under th� N�te
<br /> sha�� no�extend or postpone�he due da�e, or�hang�the amount, nf the P�r�odic Payments.
<br /> 3. Funds for E�crav�Items. BorrQvver shal�pay to L.�nder an the day Periodic Pa�men�s are due under the
<br /> Not�, until the Note is paid in ful1, a surn��he "Funds"} �o provide for paym�nt of amoun�s due fflr: (a} �ax�s
<br /> and assessm�nts and o�her�tems which can a�tain priority o�er this S�curity Instrumen�as a�ien or
<br /> encumbrance on the Pr�per�y; ��} �easehold pa�men�s or ground ren�s�n the Prop�r�y, if an�r; �c} prem�ums
<br /> for any and ali insuranc�required by L.�nder under Section 5; and �d} Mar�gage�nsurance premiums, if an�,
<br /> ar any sums payable�y Borro�rer to Lender in i ieu of the payment of Mar�gage Insurance prem�ums in
<br /> accardance with the pro�is��ns of S�c�ion 14. Th�se items are cai��d "Escrow �tems." At�r�g�na��on flr a�
<br /> an�time durxng the�erm of�he Loan, Lender n1a�require�ha��ommuni�� Assoc�at�on Dues, Fees, and
<br /> Assessm�.ents, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow
<br /> ��em. Borro�er sha�l promptly furn�sh to Lender all not�ces�f amoun�s to be paid under this S�G���n,
<br /> Borrower sha�i pay L.end�r the Funds for Escrov�r I�ems un��ss Lender�rai�es Borrnw�r's �blz�ation�o pay
<br /> the Funds for an� or all EscrovW ���ms. Lender may waiWe Borro��ver's obl��a�ion�o pay to Lender Funds far
<br /> any or a�l Escra� Items a�any�ime. An� such v�a��er may or��y be in v�rriting. In th�e�ent�f su�h vvai��r,
<br /> B�rro��ver shall pa�dir�c��y, u�hen and v�rher�payab�e, the am�unts due for any Escrow �t�ms far which
<br /> pa�ment of�unds has been wai��d�� Lender and, if L.�nder require�, sha�� furnish to L�nder receip�s
<br /> �w�denc�ng su�h paymen�wi�hin such�ime p�riod as Lender may requ�re. Borrow�r's o��zgation to make
<br /> such payments and to provide receip�s sha�l for ai�purposes be deem�d to be a co�enant and agreement
<br /> contained in�his 5ecurity �nstrument, as �he phras� "couenan�and agreemen�" �s used in Section 9. If
<br /> Barrow�r is ob���ated to pay Escr�w ��ems direc���, pursuant to a wai��r, and Borrov�er fai�s to pay the
<br /> amoun�due for an Escrow I�em, Lender may�xercise i�s ri�hts u�d�r Sect�on 9 and�ay su�h anaount and
<br /> Barrov�er shail �hen be obl�gated under Sec�i�n 9 to repa� t� Lender an�r su�h amount. L,ender ma�r re�oke
<br /> th�v�aiuer as �o an�r�r al� Escr�w ���ms at an�r�ime by a notic�given �n accar�ance with Section �S and,
<br /> upon such revoca�ian, Barro«er sha��pa�to L�nd�r all Funds, and �n su�h amounts, �hat are�hen requir�d
<br /> und�r th�s Section 3.
<br /> Lender may, a�any�im�, col�ect and h��d Funds in an amoun� (a} suf�cien� to permi� Lender to a�p�� the
<br /> Funds a��h���me sp�cif��d und�r RESPA, an� �b} not to �xcecd the ma��mum amount a lender can r�quire
<br /> under R�SPA. L.�nder shali es�ima��the amount of Funds due an�he basis o#curren�da�a and r�asonable
<br /> es�irnates of exp�ndi�ure�of future Es�row I�ems or��hervvise in accordance vvith Appiicable Law.
<br /> The Funds sha�l be he�d in an inst�tut�on whose deposits are insured b� a federa� a�ency, instrumentalit�, or
<br /> entit� ��ncluding Lender, if L,end�r is an ins�itution vvhose d�po�its are so insured} or�n any Federal Home
<br /> �...oan Bank. Lender sha�I app��the Funds�o pay th�Escrow Items no later than�he time spec��ied under
<br /> RESPA. Lend�r sha�l no�charge Borrower f�r holding and applyii�g the Funds, annua�ly analyz�ng�he
<br /> escrow accaun�, or verifying the Escr�w �tems, unless Lender pa�s Borro�ver inter�st on�he Funds and
<br /> Appl��a��e Lavv permi�s Lender�o make such a charg�. Unless an agreement �s made�n writ�ng or
<br /> ,A.ppiicable Law r�quires �nteres��o b�paid on the Funds, Lender sha�l na�be required to pay Borrower any
<br /> interest or earnings on th�Funds. Borrov�rer and Lender can agree in v�riting, how�ver, that interest shall be
<br /> pa�d on the�unds. Lender shall gi�re to Borr�wer, �rithout charge, an annua� acc�unt�ng of the Fund� as
<br /> required by RESPA.
<br /> If there is a surp�us of Funds he�d �n escrow, as defined under RESPA, Lender shai� accnunt to Borrovwer far
<br /> the excess funds in ac�ordance with RESPA. �f�here is a shor�age of Funds he�d in�scr�w, as de�ned under
<br /> RESPA, Lender shail notify Borrawer as requ�r�d by RESPA, and gorrawer sha�I pay ta Lender the amoun�
<br /> necessary�o make up the shor�age in accordance with RESPA, but in no more than I�m�n�hiy paymen�s. �f
<br /> th�re is a deficiency of Funds he�d �n escrow, as de�ned under RESPA, Lender sha�� notify Borr�vver as
<br /> N�gRASKA-5ingle Famify-�anni�MaelFreddie Mac UNIFQRM iNSTRUMENT �or�3��8�1�1
<br /> VMP� VMPfi[NE3{13Q2S
<br /> Wolters Ktuw�r�inanciat Ser�ices Page 5 0#17
<br />
|