|
2� 1 ��7935
<br /> Any application�f pa�men�s, insuranc�prac��ds, ar Misce��aneous Proceeds�o principa� due un�ier�he N�te
<br /> sha�I not extend or postpone the due date, or change th�amoun�, af the Period�c Paymen�s.
<br /> 3. F�unds for Escrow I�ems. Borrower sha��pay �o Lender on�he day P�riod�� Payments are due under�he
<br /> No�e, until �he Not�xs pa�d�n full, a sunZ�the 'iFunds"} ��pro��de for paymen�of amounts due f�r: �a� �axes
<br /> and assessments ar�d flther��ems which can a��a�n priarity a�er�h�s Securi�y Instrum�nt as a lien or
<br /> encumbrance an the Proper�y; �b� leasehold payments or ground rents on�he Proper�y, if any; �c}premiums
<br /> for any and all insurance requ�r�d�y Lender und�r S�c�ion 5; and �d} Mortgage �nsurance premiums, �f any,
<br /> or any sums payable by Barrow�r�o Lender�n�ieu�f the payment of Mflrtgag�Insurance premiums in
<br /> accordanc�with�he pra��sians of 5ec�ian �q. Thes�i�ems are�alled "Escrov� I�ems." At origina�ion or a�
<br /> any t�me during�he term af�h�L�an, I.ender may require�ha�Commun�ty Associa��an Dues, Fees, and
<br /> Assessments, if any, be escr�wed by Barraw�r, and su�h dues, f�e�and assessmen�s sha��be an�scrow
<br /> Item, Borro�er sha�i prornptly furn�sh to L.�nder a�� notices of amounts to b�paid und�r�his S���i�n.
<br /> Borr�w�r sha�l pay L.�nd�r the FUnds for Escrow �tem�unless Lender v�a��es Bflrr�wer's o��iga�ion to pay
<br /> the Funds for any or alI Escr�v� �tems. Lender may wa��e Borr�wer's obligation�o pay�o L,�nder Funds for
<br /> any ax�1� �s�r��v It��s����y����. ,A.ny sr���waiver m��n�al�h� i�a wr��i�g, �� ����ve�a��f�u��h w�.�v�r,
<br /> Borrawer shal�pay d�r�c���, when and vc�here pa�a�ie, �he amnun�s due far any Escra�v I��ms for which
<br /> payment of Funds has been wai�ed by Lender and, if Lender requires, sha11 furn�sh�o Lender receipts
<br /> evxdenc�ng such pa�men�v�r�thin such t�me period as Lender may requ�r�. Borrower's�b��ga�ion to make
<br /> such payments and��prov�de rece�pts sha�l for a�l purpflses be de��m.ed to be a covenant and agreement
<br /> ��ntained in th�s Se�urit� �nstrumen�, as the phrase "co�enan�and agreemen�" is used in Sec�ion 9. �f
<br /> Borrovwer is obl�gated to pay Es�raw Items direc�l�, pursuant to a v�rai�er, and Borrovver fa�is to pa��he
<br /> amaunt due f�r an Escr�w �tem, Lender ma�r exercise�ts r��hts und�r S���ion 9 and pay such amoun�and
<br /> Borrower sha�� �hen be oblxgated under 5ection 9 to repa� to Lender an� such aarn�unt, I.�nder ma� re�roke
<br /> �he v�rai�ver as �o any or a�� Escra�v ��ems a�any�ime b� a noti�e gi�en �n ac��rdanGe v�ith Section IS and,
<br /> upon such revflca�ian, Barrawer shal�pa}�to Lender all Funds, and �n such amounts, tha�are then required
<br /> under this Sectian 3.
<br /> Lender ma�, a�an��ime, collec�and ho�d Funds �n an amount �a� suf��ien���p�rmit Lender�o apply th�
<br /> Funds at the t�me spec��ed under RESPA, and �b}no�to�x�eed the maximum amoun� a�ender can require
<br /> under RESPA. Lender shail estima�e�h�amount of Fun�.s due�n the bas�s�f current data and rea�anable
<br /> estima�es of expend�tur�s of fixtur� �scrow �terns or o�he�-v�ise in accordanc�wi�h App��cab�e Law.
<br /> Th� Funds sha���e held in an �nstitution whose deposi�s are insured by a federa� ag�ncy, instrumenta�i��, or
<br /> en�it�r �xncluding L�nd�r, if Lender is an ins�i�utian►�rhose deposits are so �nsured} �r in any Federal �3om�
<br /> Loan Bank. Lender shall app�y the Funds�o pay the Escrav� �t�m�s nfl later�han the�ime specif�ed under
<br /> RESPA. Lender sha�i not charge Borrower for halding and appiying the Funds, annua�ly anaiyz�ng the
<br /> . escrow account, or verify�ng�he Escraw I�ems, unless L,�nder pays Borrov�er interest on�he Funds and
<br /> Appl�cab�e Law permits Lender to make such a charge. Un�ess an agre�ment�s made Xn v�rri��ng ar
<br /> Appl�cabl�Law requires �n��rest to be pa�d on�he Funds, Lender sha�l not��requ�red to pa�Borrower any
<br /> �n�eres�or earn�ngs fln the Funds. Borra��r and Lender can agree in wri�ing, howe�er, tha�interest shall be
<br /> paid an the Funds. Lender shaii gi�e tti Borrov�aer, withou�charge, an annual a��aun��ng af�he Funds as
<br /> required by RESPA.
<br /> �f there is a surplus of Funds heid in escrow, as de�ned und�r RESPA, Lender shall a��ount to Barrovver for
<br /> �h�e�.cess funds in accordan��wi�h RESPA, If there is a sh�r�age of Funds held in escrow, as de�ned under
<br /> RESPA, Lender shall not�fy Borrov�rer as requ�red b�R�SPA, and Borrower sha��pay�o I,ender the amount
<br /> necessary�a make up the shor�age in accordance with RESPA, �u�in na mar�than ��month�y pa�men�s. �f
<br /> there is a def�c�en�y of Funds held in escrov�, as de�ned under RESPA, L�nder shal� nntify Borrow�r as
<br /> N�gRASKA-5ing[e Family-Fannie MaelFreddie Mac UNiF�RM INSTRfJMENT �arm 3D�8 1!�i
<br /> VMP[� VMPfi(N��(13��)
<br /> Woiters Ktuwer Financia!5ervices Page 5 af 17
<br />
|