|
200113551
<br />equired by Lender under Section 5; and (d) Mortgage Insurance premiums, if anv, or any sums payable by
<br />3orrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of
<br />section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan,
<br />_ender may require that Community Association Dues, Fees. and Assessments, if any, be escrowed by Borrower,
<br />ind such dues. fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices
<br />,f amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender
<br />valves Borrow'er's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's
<br />6i gation to pay to Lender Funds for any or all Escrow items at any time. Any such waiver may only be in writing.
<br />n the event of .such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow
<br />tems for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender
<br />eceipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make
<br />uch payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contain.d in
<br />his Security Instniment, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to
<br />gay Escrows Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item,
<br />.ender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under
<br />section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any
<br />ime by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all
<br />upds, and ip 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 apply the
<br />'unds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under
<br />;ESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of
<br />xpenditures of future Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality,
<br />r entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal I lome Loan
<br />lank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender
<br />hall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying
<br />ie Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make
<br />uch a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds,
<br />.ender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree
<br />i writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an
<br />nnual 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 Borrower
<br />ar the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under
<br />.ESPA, Lender shall notity Borrower as required by RESPA, and Borrower shall pay to Lender the amount
<br />ecessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. if there is
<br />deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by
<br />:ESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with
<br />:ESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security instrument, Lender shall promptly refund to
<br />lorrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay a.l taxes, assessments, charges, fines, and impositions attributable
<br />the Property which can attain priority over this Security instrument, leas-:hold payments or ground rents on the
<br />'roperty, if any, and Community Association Dues, Fees, and Assessments, if any. Fo the extent gist these items
<br />re Escrow Items, Borrower shall pay them in the manner provided in Section 3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless
<br />lorrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to
<br />.ender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or
<br />efends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the
<br />nforcement of the lien while those proceedings are pending, but only until such proceedings are conclude(!; or (c)
<br />ecures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security
<br />nstrument. if I_.nder determines that any part of the Property is subject to a lien which can attain priority over this
<br />ecurity instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which
<br />EBRASKA-- Sinl-le Fared) -- Fannie Mae /Freddie Mac UNIFORM iN&rRUNIENT Farm 3028 1/01
<br />O U i N F o (Page d of l2 pages)
<br />xviti.a.vrx ::/sai:000
<br />
|