|
201803085
<br />2 01802379
<br />RE- RECORDED
<br />deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant
<br />and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a
<br />waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights
<br />under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to
<br />Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a
<br />notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all
<br />Funds, and in such amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to
<br />apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender
<br />can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data
<br />and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with
<br />Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency,
<br />instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in
<br />any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the
<br />time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds,
<br />annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower
<br />interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is
<br />made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required
<br />to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing,
<br />however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an
<br />annual accounting of the Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to
<br />Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow,
<br />as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to
<br />Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12
<br />monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender
<br />shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to
<br />make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly
<br />refund to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which can attain priority over this Security Instrument, leasehold payments or
<br />ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any.
<br />To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in
<br />Section 3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument
<br />unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner
<br />acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in
<br />good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion
<br />operate to prevent the enforcement of the lien while those proceedings are pending, but only until such
<br />proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender
<br />subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is
<br />subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a
<br />notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall
<br />satisfy the lien or take one or more of the actions set forth above in this Section 4.
<br />NEBRASKA -- Single Family -- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1 /01 (page 5 of 15 pages)
<br />
|