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200208052
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient meant
<br />to pay anyy late charge due, the payment my be applied to the delinquent payment and the late charge. if more than one
<br />Periodic Pa en[is outstanding, Lender may apply any paymentrieclved Trim Borrower in the repaymentof the Periodic
<br />Payments (f, and to the talent that, each payment can be pod in full. To the extent that any excess exists after the paymentis
<br />applied w the toll payment of one or more Periodic Payments, such excess maybe applied to anylate charges due. Voluntary
<br />prepayments shall he applied firs[ [o arty prepayment charges and then as described to the Note.
<br />Any application ofpayments, insurance pnocecds, or Miscellaneous Proceeds to principal due under the Note
<br />shall not extend or poslrymc the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Borrower shallpay to Lender on the day Periodic Payments are due under the Note,
<br />until [he Note is paid in full, a sum (the "Funds' ") to provide Cor payment of amounts due for: (a) taxes and assessments and
<br />other items. which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold
<br />payments or ground rents on the Property, if any, (c) premiums for any and all imsurancc required byy Lender under Section 5;
<br />and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower w Lender m lieu ofthe paymentofMortgegn:
<br />Insurnnce premiums in accordance with the provisions nfSwtion 10. These items we called "Escrow Items." Atorigination
<br />Drat any time dmingtheterm ofthe Loan,Lender may require that Community Association Dues, Fees, and Assessexas,if
<br />any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly
<br />furnish to Lender all notices of amounts in be paid under this Section. Borrower shall pay Lender the Funds far Escrow Items
<br />unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's
<br />obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the
<br />event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrowl ems for which
<br />payment of Funds has been waived y Lender and, if Lender requires, shall famish to Lender receipts evidencing such
<br />payment within such time period as Lender may require. Borrower's obligation to make such payments and in 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 d'ir'ectly, pursuant in a waiver,
<br />and Borrower fads to pay the amount due for an Escrow Item, Lender may exercise its ri¢his under Section 9 and pay such
<br />amount and Borrower shall then be obligated under Section 9 to repay In Lender any such amount Lender mayrevoke the
<br />waiver as many or all 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 required under this Section 3.
<br />Lender may, at anytime, collect and hold Funds in an amount (a) sufficient Operant Lender to apppplyy the Funds at
<br />the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender
<br />shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures 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 a federal agency, instrumentality, or entity
<br />(including Lender, it Lender is an institution whose deposits are so insured) or in any Feder Loan Bank. Lender shall
<br />apply the Funds to pay the Escrow Items no later than the 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 in 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 pay 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 />Funds. Lender shall give to Borr ower, without charge, an 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 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 Funds held in
<br />escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to 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 of all sums secured by this Security Instrument, Lender shall promptly refund in Borrower any
<br />Funds held by Lender.
<br />4. Charges;Liens. Borrower shall pay all taxes, assessments, charges, lines, and impositions attributablew the
<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; (h) 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 />pending, but only until such proceedings are concluded; or (C) secures from the holder of the lien an agreement sai sfactory w
<br />Lender subordinating the lien to this Security Instrument. It Lender deterntines that any part of the Property is subject to a
<br />lien which can attain priority over this Security Instrument, Lender may give Borrower a notice idend ng the lien. Within
<br />10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more o the actions set forth
<br />above in this Section 4.
<br />Lender may require Borrower to 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 tire, hazards included within the term "extended coverage," and any other hazards including, but Trot
<br />limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts
<br />(including deductible levels) and for the periods that Lender requires. What lender requires pursuant w the preceding
<br />sentences can change during the term Via, 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 ay, in connection with this Loan, either: (a) a one -time charge for flood zone
<br />determination, certification and tracEmg 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 cerrlficafion. Borrower shall also be responsible for the payment of any fees imposed by the Federal
<br />Emergency Management Agency in connection with the review of any Flood zone determination resulting from an objection
<br />by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender 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. Thuewre, such coverage shall cover Le nder, bu[lydgh[or might no[protee[Borrowar, Borrower's equity in the
<br />Property, or the contents of [he Property, against any risk, hazard ter liability and might provide bRCawr nr lesser coverage
<br />[h an wasproviously in effect Borrowor acknowledges that the cost of the insurance coverage so ob tainedmigh[signilirantly
<br />exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed bylender under this Section 5 shall
<br />became additional debt of Borrower sworn by this Security Instrument. These amounts shall bear interest at the Note rate
<br />from the date of disburseanent and shall be payable, with such interest upon notice from Tender to Borrower requesting
<br />payment.
<br />All insurance policies required by standard Lender and renewals e, such policies shall he subject to Lender's right to
<br />disapprove such yce. Lender shall include a standard mortgage clause, and shall name Lender as mortgagee and/or ro er
<br />shallpromptly give ee. Lenderall e eipt the paid premiums and renewal and renew.) If obtains anyform of Borrower
<br />shall promptly give to iendcr all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance
<br />MAIRASKA-- Single Family— Faire xhi / reddie Mac UNIFORM INSTRIiMENT Form3028 1 /01 (poge3,J'Spages)
<br />9754CV(1,02) 011698
<br />GOTO("26183)
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