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2� 1 ��8119
<br /> L�AIV#: �D�439�83'I
<br /> B�rrawer mi�ht have no�v or in �he fu#ure against L�nder shal� relieve Borr��nrer from mak�ng payments
<br /> due under the Nnt�ar�d �his�ecurity �nstrument o� pe�farm�n��h� covenanfis and agreem�nts secur�d
<br /> by�his S�curity �nstrument.
<br /> �, ►4ppf�cat�on of Paym�nts or Prviceeds. Except as ❑�herwise d�scr�b�d in �his Section �, al�
<br /> payments ac�ept�d and appli�� by Lender shall I�e appii�d in th�fvli�v�r�ng order of prior�ty:
<br /> Fi�st, �o �he Mortgag� fnsu�an�e �remiums ta be pa�d by Lender to the Secretary or the m�nth�y
<br /> charg� �y the Sec��tary instead of the m�n�hly mortgage insuran�e pr�miums;
<br /> S�cand,�a any�ax�s,specia!assessm�nts, feasehol� payments or groun� rents, and fire,fiood and
<br /> o�her haza�d insurance prem�ums, as requ�red�
<br /> Third, ta inter�s�du� under�h� Note;
<br /> Fourth, ta amortiza�ion �f th� principal vf the Nfl�e; and,
<br /> Fifth, to �ate charges due under the N�te.
<br /> Any appli�ation of paymen�s, insurance pr�ceeds,ar M�scelianeaus Pr�ceeds to pr�ncipa�du�under
<br /> the Not� shall not�x�end or pos�pone th� due d�t�, �r change�he amvunt, of the Perivd�c Payments.
<br /> 3. Funds for Escravv Items. Barra��r shall pay to Lender on th�day Periadi� Payments are du�
<br /> under�he Nate, un#il the Nate is paid �n full, a sum �the"Funds"} to provide f�r payment of amounts due
<br /> for: �a�taxes and assessments and ath�r items which can at�a�n pr�ori�a�er this 5ecuri�y inst�ument as
<br /> a ii�n or�ncumloranc� an the Property; tb} ieasenafd paym�nts or graund rents on the Property, if any;
<br /> ��} premiums for any and all insu�ance required �y Lender under Secti�n 5; and ��} Nl�rtgage Insuranc�
<br /> p�emiums to be paid by Lender�o th� Secretary a��h� man�hly charge by the Secretary instead of the
<br /> monthly IUlortgage Insuran�e �remiums. These items are �alled "Es�raw ltems."A�origina�ian or a�ar�y
<br /> time dur�ng�he te�m of�he Loan, Lender may requ�re that�ommur�it�Associa�ion Dues, Fe�s,and As��s�-
<br /> m�nts, if any, be escr�w�� by B�rrower, and such dues,fe�s�nd assessment��hall be an Escra�v��em.
<br /> Borr��n►�r shall prompt�y furnish �o L�nder all r�v�ic�s�f amounts to b�paid under th�s Sectian. Borrowe�
<br /> shall pay Lender the Funds far Escrow ltems unl�s�Lender wa�v��B�rrower's o�ligation t�pay th�Funds
<br /> far an�r�r all Esc�o�nr I�ems. L�nder�ay v��iv�Barr��er'�abl�gati�n�o pay to Lender Funds f�r ar�y or all
<br /> Escro�nr it�ms at any t�me.Any such waiver may�nly be in�rr�t�ng. [n the even�of such waiv�r, Barra�er
<br /> shal�pay directly,when and where payable, the ama�n�s due far any Es�ro�It�ms for which payment�vf
<br /> Funds�as been waiv�d by Lender and,if Lender r�quires,shali furn�sh ta Lender r�ceipts evid�ncing such
<br /> pa�lment v�ithin such time p�ri�d a� Len�er may require. �orrower's �bl�ga�ian to make such payments
<br /> and to�r��ide r�ceip�s sha�!f�r a!!purpos��b�d��rr��d to be a coWenanf and�gr��ment contained in�hi�
<br /> �ecurity�nstrument,as the phrase"covenan�and agreemen�"�s used�n Se�ti�n 9.�f B�r�ower�s ob��gat��
<br /> �o pay Escrow I�ems dire�tly, pursu�n#to a wai�er,and Borravuer fai�s�fl pa�the amaun�due for an Escrow
<br /> Item, Lender may ex�rcise its rights under Se��ian 9 an� pay such amaunt and Barrower shali �hen be
<br /> abl�gated under 5ection 9 to repay�o Lender any such amnunt. L�nder may re�oke the�+ra�ver as��any or
<br /> a1l Esc�ow�tems at any time by a natice giv�n rn ac��rdance�nrith Se�ti�n�4 and, upon such rev�cation,
<br /> Borrower sha�i pay ta Lender a!�Funds, �nd in such amaunts,�ha�ar�th�n r�quir�d under th�s S���ion 3.
<br /> L�nde�may, at any time, c�lf�ct and hold Funds in an am�unt�a}sufficient�o pe�m�t Lender ta app�y
<br /> #he Funds at the tim�spec�fi�d under RESPA, and �b} n��ta exceed the maximum amvunt a��nder can
<br /> requ�re un�er RESPA. Lender shal!estimate th�am�unt of Funds due vn the basis of cu�rent data and rea-�
<br /> sonable es�ima#es of expenditures of futur�Escrvw I��ms�r otherw�se�n acc�rdance v�ith Appl�ca�le L�w.
<br /> The Funds shall he h�ld in an institu�ion wh�se depas�ts are insured�y a federa�agency,instrumentai-
<br /> i , or ent�ty��ncluding Lender, if L�nder is an ins�����ian whose d�posits are so ins�red}or in any Federal
<br /> �
<br /> Hvme Loan Bank. L�nder shall apply the Funds�o pay the Es�rov�r ltems no fater than the t�me specified
<br /> under RESPA. Lende�shail not�harge Borrvwer f�r hold�ng and app�y�ng th�Funds, annually analyz�ng
<br /> �he�sc�o�v acc�un�, ar�erifying the Escrow I�ems, unie�� Lender pays Borrower�nt�r�st an the Fund�
<br /> and A licable Law permits Lender to make sucM a charg�. Unl�ss an agreem�nt is made �n v�ri�in� or
<br /> pp
<br /> r� licable Law r�qu�r�s int�r�st�a b� paid on �he Funds, L�n�er shall not be requ�red to pay Barro�►��
<br /> Pp
<br /> an interest or earning��n�he Funds, Borrow�r an� L�nd�r can agre� �n�riting, however, tha�int��es�
<br /> y
<br /> shafi b� a�d on �he Fur�ds. Lender sha�l give�o Borrow�r, �►v�th�ut charg�, an annual acc�un�ing �f�he
<br /> P
<br /> Funds�s r�quir�d by RESPA.
<br /> !f�h�re is a surplus of Funds he�d in e�crv�nr, �s defined under RESPA, Lender sha�l accoun�to Bar-
<br /> r�wer for the excess funds in accordance with RESPA. if there�s a shor�ag�of Funds hel� in�scrow, as
<br /> defined under RESPA, L�nder shali n�t�fy Sorrower as re�u�red by RESPA, and B�rrower shal! pay�o
<br /> Lend�rth�amQun�ne��ssary to make up the shortage in a�Gordanc�wi�h RESPA, but in no mvre than
<br /> �� mon�h� payments. If there is a d�ficiency vf Funds h��d �n�scraw, as�efined und�r RE�PA, Lender .
<br /> Y
<br /> shail notify Borrower as required by RES�A, and Borravver sh�l�pa�1 ta Lender�he amo�n�ne�essary�o
<br /> make up the defiGiency in a�cordance w�fih RESPA, but in na more than 12 monthly payments.
<br /> U on a m�nt in full af a�! sums s�cured by th�s Secur�ty �nstrument, Lender sha�l promptly refund
<br /> � � v
<br /> t� Bar�ow�r any Funds held by Lender.
<br /> 4. �harges; Liens. Ba�raw�r �hall pay ail taxes, asse�srr�en�s, �harges, fin�s, and imposition�
<br /> attributabf�to the Property which can a�tain priority over th�s S�curit� Instrument, leaseha�d payments or
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<br /> round rents on the Property, �f any, and Cammunity Assv��a�i�n Dues, Fe�s,and Assessmen�s, �f any.To
<br /> the extent�hat these items are Escrav�v Iter�s, B�rrvw�r shai!pay them�n th�manner prav�ded in Secti�n 3.
<br /> Barrvwer shall �romptly discharge an� �i�n whi�h h�s priari�y over�his Se�ur��y lnstrumen� un�ess
<br /> �orr�wer: a a rees in�vriting ta the paym�nt of th�obl�ga#ion secured by the lien in a mann�r acceptable
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<br /> NESRASKA—Singie Family--Fann�e MaelFreddie Mac UNfFC3RM iNSTRUMENT FQrm 3028'1lDi ,�
<br /> Mod�fed for FHA 9l��14�HUD Handbook 4�a0.�} ln�tials:
<br /> Ellie Mae,Inc. Page 4 of 11 NEEFHA�5DE 09�5
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