|
to pay at
<br />Periodic
<br />Any application of payments, ii
<br />shall not extend or postpone the due date, or
<br />3. Funds for Escrow Items. But
<br />until the Note is paid in full, a sum (the "Fun
<br />other items which can attain priority over thi
<br />payments or ground rents on the Property, ifi
<br />and (d) Mortgage Insurance premiums, if an)
<br />Insurance premiums in accordance with the I
<br />or at anytime during the term of the Loan, Le
<br />any, be escrowed by Borrower, and such de
<br />furnish to Lender all notices ofantounts to be
<br />unless Lender waives Borrower's obligation
<br />obligation to pay to Lender Funds for any or
<br />event of such waiver, Borrower shall ppaydirc
<br />payment of Funds has been waived by Lem
<br />200303986
<br />linquent Periodic Payment which includes a sufficient amount
<br />e delinquent payment and the late charge. If more than one
<br />ent received from Borrower in the repayment of the Periodic
<br />i full. To the extent that any excess exists after the paym ent is
<br />such excess maybe applied to any late charges due. Voluntary
<br />and then as described in the Note.
<br />Is, or Miscellaneous Proceeds to principal due under theNote
<br />rot, of the Periodic Payments.
<br />o Lender on the day Periodic Payments are due under the Note,
<br />isibns of Section 10. These items are called "Escrow Items
<br />may require that Community Association Dues, Fees, and
<br />fees and assessments shall be an Escrow Item. Borrower
<br />J under this Section. Borrower shall pay Under the Funds'
<br />my the Funds for any or all Escrow Items. Lender may we
<br />payment within such time period as Lender may require. Hono wer's obligation to make such payments and to provide
<br />receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase
<br />"covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver,
<br />and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such
<br />amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the
<br />waiver as to any or al I Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation,
<br />Borrower shall pay to lender all Funds, and in such amounts, that are then reqquired under this Section 3.
<br />Under may, at anytime, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at
<br />the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Under
<br />shall estimate the amount of Funds due on the basis of current data and reasonable estimates ofexpenditures of future Escrow
<br />Items or otherwise in accordance with Applicable law.
<br />The Funds shall be held in an institution whose deposits are insured by federal agency, instrumentality, or earl
<br />Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. lender shall
<br />apply the Funds to pay the Escrow Items no later than die time specified under RESPA. Lender shall not charge Borrower
<br />for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender
<br />pays Borrower 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 to gay Borrower
<br />any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the
<br />If there is a surplus it CFunds held in escrow, as defined under RESPA, ]ender shall account to Borrower for the
<br />excess funds in accordance with RESPA. If there is a shortage 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 make up the
<br />shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Fonds held in
<br />escrow, as defined tinder RESPA, lender shall notify Borrower az required by RESPA, and Borrower shall payto Lender the
<br />amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full ofalI sums secured by this Security Instrument, Lender shall promptly refund in narrower any
<br />Funds held by Lender.
<br />4. Charges;Liens. Borrower shall payall taxes, assessments, charges, fines, and impositions attributablemthe
<br />Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any,
<br />and Community Association Dues, Fees, and Assessments, If any. To the extent that these items are Escrow Items, Borrower
<br />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 Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as
<br />Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in,
<br />legal proceedings which in Lender's opinion operate to prevent the enforcement of the hen while those proceedings are
<br />or take one or more of the actions set
<br />Lender may require Borrower in pay a one -time charge for a real estate tax verification and/or reporting service
<br />used by Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not
<br />limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts
<br />(including deductible levels) mid for the periods that Lender requires. What lender requires pursuant to the preceding
<br />sentences can change during the term The Loan. The insurance carrier providing the insurance shall be chosen by
<br />Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably.
<br />Lender may require Borrower to pay, in connection with this Izan, either: (a) a one -time charge for flood zone
<br />determination, certification and tracking services; or (b) a one -time charge for flood zone determination and certification
<br />services and subsequent charges each time remappings or similar changes occur which reasonably might affect such
<br />determination or ccruficatmn. Borrower shall also be responsible for the payment of my fees imposed by the Federal
<br />Emergency Management Agency in connection with the review ofany flood zone determination resulting from m objection
<br />by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Under may obtain insurance coverage, at
<br />Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of
<br />coverage. Therefore, such coverage shall cover Lendeq but might or might not protec[ROrroweq Borrower's equity in the
<br />Property, or the wntcros of the Property, against any risk, hazard or IiabiliTy and might pro vide greater or lesser covesge
<br />than was pre viously in effect Borrower acknowledges that the cost of[he insurance coverage so be
<br />exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lenderwderlhis Section 5 shall
<br />become additional deb[ofBet, wer securedby this Security lnatrument. These amounts shall bear interest al the Note rate
<br />from the date ofdr bursemcnl and shall be payable, with such interest, upon notice dour Lender to Borrower requesting
<br />payment.
<br />All insurance policies required standard lender and renewals e, such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as ender requires, and/or ro er
<br />additional poly payee. lender shall have die aidprholdthepolicies and renewal certificates .IfLenderrequires, Borrower
<br />shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance
<br />NEBRnS"A m,leFanuly— FVOnie MSNFreddie Mac UNIFORM INSTRUMENT Farm3028 U01 (pnge3of8pn es)
<br />9954 UV (I 102) 1672229
<br />GOrix(KiU48we)
<br />
|