|
2� 17��773
<br /> Any applica�ion�f pa��nents, insuranc�proceeds, or Mis�el�aneous Proceeds�o princ�pa�due under the Na�e
<br /> shali no�ex�end or postpane the due date, or change the amount, of the Periodic Payments.
<br /> 3. �`unds far�scrow Items. BQrravver shali pay to L�nder on the da� Periodic Payments are due under the
<br /> N��e, until the Note�s paid in fuli, a sum�the "Funds"}��prov�de for paymen�of amounts due for: �a} taxes
<br /> and assessments and o�h�r items which can at�ain priorit�o�er this Secur��� Instrument as a�ien or
<br /> encum�brance on�he Prop�r��; �b} leaseho�d payments or ground ren�s on the Prop�rty, if any; �c}premiums
<br /> far any and all �nsurance requir�d by Lender under Secti�n 5; and�d} N��r�gag�Znsurance premiums, �f any,
<br /> or any sums pa�ab�e by B�rrawer t� Lender in I�eu of th�paymen��f M�r�gage �nsurance pretniums in
<br /> ac�ordan�e w�th�he pro�is�ons of Secti�n ��. These items ar�called "Escrow�tems." At ar�gina�ion nr at
<br /> an��ime during�he�erm of the Laan, Lender may require�hat�ommun�ty Assoc�ation Dues, �`ees, and
<br /> Assessments, �f any, be escrowed by Borr�w�r, and such dues, fees and assessmen�s shall be an Escro�
<br /> ��em. Borrower shai�prompti� furnish ta i,ender al�notiGes of amounts to be pa�d under this Sect�on.
<br /> Borrower shall pa� L�nder�he Funds for�scraw �tems un�ess L�nder wa��es Borra�ver's ob�igation to pay
<br /> the Funds for any or aIl Escrnw �tems. Lender may wai�e Borrower'�obligat�on to pay�o Lender Funds far
<br /> any ar all �s�rav�r �tems at any�ime. Any such wa�v�r ma�on1�be in v�riting. �n the e�ent of su�h wai�er,
<br /> Borrower sha�l pa�direct��, when and where payab�e, �he amounts due for any Escrnv� Items for which
<br /> payment of Funds has been wa��red�y L.�nder and, if Lender requires, shall furnish to Lender receip�s
<br /> e��denc�ng �uch payment wi�h�n such t��rne p�riod as Lender may requ�re. Borrower's o�liga�ian to make
<br /> su�h paym�nts and ta pro��de receipts shall far a��purposes be deemed�o be a co�renant and agr�ment
<br /> can�a�ned in�his Securi�y �nstrum�n�, as�he phrase "�o�enant and agreement" �s used�n Sec�ion 9. �f
<br /> Borrov�rer is o��iga�ed�a pay Escrow �tems direc��y, pursuant tfl a�rai�rer, and Barrawer fai�s to pay the
<br /> amaunt due f�r an Escrow Item, Lender ma�e�x�rcise �ts rights under Sec�ion 9 and pa�r such amount and
<br /> Borrov�r�r shal�then be ab�igated under Sec��on g to repay to Lender an� su�h am�unt. �...ender ma� re�oke
<br /> �h�waiWer as to an�or a�I Escrow Items a�an��ime�y a not�ce gi�ren in ac��rdance with Section �5 and,
<br /> upon such rev�cat�on, Borrov�er sha11 pay�o I�ender�11 Funds, and �n such amounts, t.�.a�are then requ�r�d
<br /> under�his Section 3,
<br /> Lender ma�r, at any t�me, collect and hald Funds in an amoun� ta� suff�cient�o pernu�L,�nder�o apply th�
<br /> Funds at the�ime specified under RESPA, and�h} nat�o exceed the ma�imum amoun�a iender can requ�re
<br /> under RESPA. I.ender shall est�ma�e the am�unt of Funds due an the basis nf curren�da�a and reasonable
<br /> estimates of expenditures of future�scrow ��ems or othervv�se in ac�ordance with Applicahle Lavv.
<br /> The Funds sha��be heid in an �nstitut�on whose depos��s are insured by a federa� agency, �ns�rumen�a�ity, ar
<br /> en�i���in�luding Lender, i�Lender is an�nst��u�ian w�.ose deposi�s are so�nsured}flr�n any�ederal �ame
<br /> Loa��Bank. Lender sha�� apply�he Funds�o pa��he Escr�w Items no �ater�han�he�ime sp�cifi�d under
<br /> RESPA. Lender shall not charge Barrower for hald�ng and apply�ng�he Funds, annually ana�yzing�h�
<br /> escrov� ac�ount, or�v�rifying the Es�rov� Items, unless L�nder pays Barrow�r�n�erest on the Funds and
<br /> App�icab�e Law permi�s L.�nder tfl make such a charge. t)nles�an agreem�n� is made�n writing or
<br /> App�i�ab�e Law requires interest�a be paid�n the Funds, L�ender sha�I not�e requ�red ta pay Borro�rer an�
<br /> interes�or�arnings on the Funds. Barrov��r and L,e�.der can agre�in vvr���n�, h�we�er, �hat interes�shall be
<br /> paid on�he Funds. Lender shall give to Borr�wer, w��hout charge, an annual accoun�ing of the Funds a�
<br /> required by RESPA.
<br /> If th�re is a surp�us of Funds he�d in escrow, as defined under RESPA, L�nder shall account to B�rrower f�r
<br /> the�x�ess funds �n accordance wi�h RESPA. �f there�s a shortage af Funds he�d in escraw, as defined und�r
<br /> RESPA, I.�nder shall notify B�rrovver as required by RESPA, and Borrav�er sha�l pay to L�nder�he amount
<br /> necessar� �o make up the shor�age in accardanc�w�th RESPA, but in no more�han �2 mon�h��paymen�s. If
<br /> there is a def�ci�ncy of Funds h�Id in escrow, as de�ned under RESPA, Lender sha�� notify Borrov�er as
<br /> N�BRASKA-Singl�Farnily-�annie Mael�reddie Mac UNIFORM�N5TRLIM�NT Form 3�28 11Q7
<br /> VMP Q VMPfi[NE��13Q2}
<br /> Walters K(uwer FinanciaE 5�r�ic�s Page 5 af�7
<br />
|