|
2� 1 ��7943
<br /> Any application of paymen�ss �nsurance proce�ds, or Misc���aneou� Proceeds �o pr�nc�pa� due under�he No�e
<br /> �hall n��e�t�nd ar pos�pane the due da��, or chang�th�aYnaun�, of�he Per�od�c Paymen�s.
<br /> 3. Funds far Escrow I�em�. Borrower shal�pa��a Len�er an the da�r Periodic Paynients ar�due und�r�he
<br /> Nflte, until �he No�e is�a�d�n fu��, a sum��h� "Funds"} to pro��de for paymen��f amounts due for: �a)tax�s
<br />- and assessments and o�her i�ems whi�h�an a�ta�n prxority av�r�h�s Secur�ty Instrumen�as a l�en or
<br /> en�umbran�e on�he Proper��r; �b� leasehold paym�ents or ground ren�s on the Proper�y, if an�; �c}prem,�.um,s
<br /> for any and a�� insurance requ�red by Lender under Sect�on S; and �d} M�rtgage�ns�rance prem�ums, if any,
<br /> or any sums pa�able by Borrav�rer�o Lender in��eu of�he paymen�of Martgag��nsuran���remiums �n
<br /> accordance w�th�h�prov�sions of Sec�i�n la. These i�ems are ca��ed "Escrow I�ems." At origina��on or at
<br /> any��me during the��rm of�he Loan, �nder m.ay require tha��o�rnun�ty As�ociation I7ues, Fe�s, and
<br /> Ass�ssments, if any, be escrovved by Borrow�r, and such dues, fees a�ad assessments sha�l be an �scro�xr
<br /> ��ern. Borrow�r shall promptly furnish�o L.ender a�l nat�ces of am�un�s�a be pa�d under�h�s Section.
<br /> B�rrower sha��pay Lender the Funds f�r Escrov� ��ems un�ess Lender wa�ves Borrower's o���gation to pay
<br /> the Funds for any or aIl Escraw ��ems. Lender may waive 13orrov�er's abligat�on�o pa�to Lender Funds f�r
<br /> ar�y ar al� Escrovv �t�ms at any t�me. Any �uch wa�ver may anly be�n wr�ting. �n�he even�of such waiv�r,
<br /> Borrower sha��pay di�r��t�y, �rh�n and where pa�able, the amounts due for any Es��row ��ems for which
<br /> paym.ent of Funds has�e�n waived b� I..,ender and, if Lender requires, sha�� furr�ish to L.ender rece�pts
<br /> �v�dencing such payrnen�within such�ime periad as Lender may requ�re. Barra�rer's ob�zgation�o make
<br /> su�h pa�men�s and���rovzde receipts shali f�r all purpases be deemed to b�a co�enant and agreemen�
<br /> contained�n�his �ecur��y�ns�rumen�, as the phrase "�avenant and agreement" is used in Section�. �f
<br /> Borrawer�s abliga�ed to pay Escrow ��enas direc�l�, pursuan��o a wai�er, and Borrower fa�ls t�pay th�
<br /> amaunt due for an EscrQw I�em, Lender ma� exercise its righ�s under Sect�on 9 and pay such amount ax�d
<br /> Borrower shall�hen b�obligated under Se�tion 9 to repay to Lender an� such amount. L�nder may re�vake
<br /> �he v�a��rer as to any or a11 Escrnw ��ern� at any time by a no�xce gi�en in accordance wi�h SeGtion I5 and,
<br /> upon such revocat�on, Borro�ver shal�pa��o Lender all Funds, and in such amounts, tha�are then requ�red
<br /> under�his Sect�on 3.
<br /> Lender ma�, a�any�ime, coliect and ho�d Funds in an amaunt�a} suffic�en�to permi�Lender�o app1� the
<br /> Fun�s at the��me speci�ed under RESPA, and �b} n�t ta exceed the maximum amoun�a lender can require
<br /> under RESPA. Lender sha�l estima�e the amount of Funds due�n the basis af�urrent da�a and reasanab�e
<br /> es�ima�es of expenditures of future Escrow I��ms�r otherwise in accordance w�th Applicable Law.
<br /> The Funds sha11 be held in an inst��ut��n whose depasits are insured b� a federal agency, ins�rumenta�i�y, or
<br /> entity ��ncluding Lender, if Lender is an insti�utzon whose depasi�s are sa insured} or in an� Federal H�me
<br /> Loan Bank, L�nder shali app�y the Funds t�pay�he Escra�v �tems no later�han�he time spe�if�ed und�r
<br /> RE�PA, Lender sha11 not ch�rge Borrower for holding and �pplying �he Fun�S, a��n���ly ana�y�ing the
<br /> escrov�r accQunt, or verify�ng the Escrow Items, unl�ss Lend�r pays Barrower interes�an�he Funds and
<br /> Applicab�e Law permits Lender to make such a charge. Unless an agreement is made in writing or
<br /> Ap���cable Law requires �ntere��to be paid�n the Funds, Lend�r shal�nat be r�quired tfl pay Borrower an�r
<br /> �nterest�r earnings on�he Funds. Borrow�r and Lender can agree�n writing, ho�vever, th.a�interest shall b�
<br /> paid on the Funds, L�nder shail give�o Borrower, vvith�ut charg�, an annual accounting of�he Funds a�
<br /> requir�d by RESPA.
<br /> If�her��s a sur�ius of Funds held in escro�v, as def�ned under RESPA, Lender sha�� accoun��o Borrowe�far
<br /> the excess funds�n accordance w�th RESPA. �f�here is a sh�rtage of Funds held �n escrow, as de�ned under
<br /> ��SPA, I,end�r shaii notif� Borrower as required by RESPA, and B�rrower sha�l pay t� Lender�he amoun�
<br /> nece�sary�a ma�e up�he shor�ag� in accordance w��h RESPA, hut in na more than 12 month�y paymen�s. �f
<br /> �.h�re is a de�ciency of Funds held in escrow, as defined under RESPAy Lender shali no�ify Borr�w�r as
<br /> NEBRASKA-Single Famity-�artnie MaelFreddie Mac UN#��RM INSTRUMENT Form 3428�1�1
<br /> VMP p VMP6�NEy�13d2i
<br /> Wo�ters Kluwer Financial Ser�ices Pag�5 v�7 7
<br />
|