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200213677
<br />If Lender receives a payment from Borrower tar a delinquent Periodic Payment which includes a sufficientamolmt
<br />to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one
<br />Periodic Payment is outstanding, Lender may apply any payment mucivcd from Burrower to the repayment of the Periodic
<br />Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is
<br />applied to the full payment of one or more Periodic Payments, such excess may be applied to any law charges due. V nluntally
<br />prepayments shall be applied first to any prepayment charges and then as described in the Note.
<br />Any application of ayments, ins urance proceeds, or Misccll ancous Proceeds to principal due under the Note
<br />shall not extend or postpone the Sue date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note,
<br />until the Note is ppaid in full, a sum (the "Funds ") to provide for payment ofamounts due for a) taxes and assessments and
<br />other iterhs whidi 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 1'or any and all insurance mquweci by Lender under Section 5;
<br />and (d) Mortgage Insurance premiums, it any, or any sums payable by Borrower to Lender in lieu ofthe paymentofMortgage
<br />Insurance premiums in accordance with the provisions of Section L0. These items am called "Escrow Rents," Ata'iginamal
<br />or at any time during the Term at the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if
<br />any, be escrowed by Burrower, and such dues, fees and assessments shall be an Escrow Item. But shall promptly
<br />furnish to Lender all notices of amounts to be paid antler this Section Borrower shal I pay lender the Funds for Escrow Items
<br />unless lender waives Borrower's obligation to pay the Funds for anyor all Escrow Items, lender may waive Borrower's
<br />obligation to pay to Lender Funds for any or all Escrow Items at anytime 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 Escrow leads for touch
<br />payment of Funds has been waived by Lender and, if Lender requires. shall furnish to Lender receipts evidencing such
<br />payment within such time period as Undo may require Borrower's obligation to make such payments and to provide
<br />receipts shall for all purposes be deemed m be a covenant and agreement contained in this Security Insnument, as the phrase
<br />"covenant and agreement" is used in Section 9. IfBLimtwcr, is obligated to pay Escrow Items directly, pursuant to a waiver.
<br />and Borrower fads ro pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pays Lich
<br />amount and Borrower shat l then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the
<br />waiver as to any 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 Iender all 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 apply 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 ofexpendimres of future Escrow
<br />Items or otherwise in accordance with App] icable Law.
<br />The Funds shall be held in an institution whose deposits are insured by federal agency, instrumentality, or enhty
<br />(including Lender, if Icnder is an institution whose deposits arc so iusmcab or in any Federal Houle: Low) Batik. 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 to make such a charge. Unless an agreement is
<br />made in writing or Applicable Izw requires interest to be paid on tie Funds, Lender shall not be required to pay Borrower
<br />any interest or earnings on the Funds. Borrower and lender can agree in writi no, however, that interest shall be paid on the
<br />Funds. Lender shall give to Borrower, 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 mum (hull 12 monthly payments. If there is a deficiency of Funds held in
<br />escrow, as defined under RESPA, Lender shall rents Borrower as required by RESPA, and Bomowershall pay m lender the
<br />amount necessary to make up the deficiency in accordance with RESPA, but in no more than l2 monthly payments.
<br />Upon payment in full ofall sums secured bythis Security Instrument, Lender shall promptly refund to Borrower any
<br />Funds held by Lender.
<br />a. Chat
<br />Property which can
<br />and Community As,
<br />shall pay them in eh
<br />'.r shall promptly discharge any lien which has priority over this Security Instrument unless Borrower (a)
<br />m the payment of the Obligation secured by the lien in a manner acceptable to Lender, but only so long as
<br />rming such agreement, (b) contests the lien in good faith by, or defends against enforcement of the lien in,
<br />which in Lender's opinion operate m prevent the enfonement of the lien while those proceedings are
<br />until such proceedings are concluded; or (c) secures from the. holder of the lien an agreementsatstactory to
<br />ling the lien to this Security instrumenl. If Lender determines that any part or the Property is subject to a
<br />air priority over this Security Instrument. Lender mayeive Borrowera notice identityingthe lien. Within
<br />e on which that notice is given, Bnrrowcr shall salisfythc lien or Iakc Line or more of the actions set forth
<br />above in this Section 4.
<br />Lender may require Borrower to pay a ono -rime charge fur a real us late 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) and for the periods that Lender requires. What Lender requires pursuant to the preceding
<br />sentences can change during the term of the Loan The insurance carrier providing the insurance shall he 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 m pay, in connection with this Loan, either. (a) a one -time charge for flood zone
<br />dcarminaliun, certification end Hacking services; or (b) a one -time charge for flood zone demodulation and certification
<br />services and subsequent charges each time remappings or similar changes occur which reasonably might affect such
<br />determination or curtifrcatum 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 some determination resulting horn an objection
<br />by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, [ender 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 Lender, but might or might not protect Borrower, Borrower's equity in the
<br />Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage
<br />than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significant[
<br />exceed the costofinaurance that Borrower could have obtained. Any amounts disbursed by Lender under this Secuou5 shall
<br />become additional debt at Borrower secured by this Security Instrument These amounts shall bear interest at the Note rate
<br />from the date of dishuncment sad shall be payable, with such interest, upon notice from (ender to Borrower requesting
<br />payment.
<br />All insurance policies required by Lender and renewals of 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 mortgages, and/or as an
<br />additional loss payee. Lenders'hall have the right to hold the policies and renewal certificates It Lender requires, Borrower
<br />shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obains any formal of insurance
<br />Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable To the
<br />a priority over this Security Instrument, leasehold paymcros or ground rents on the Property, if any,
<br />tion Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower
<br />agrees in writing
<br />Borrower is pelf,
<br />legal proceedings
<br />nendine. but Doll
<br />lien which can
<br />lU days ofthe
<br />NEENASKA- Single FOmily- -Fwmia Mae/FreaaieMw'UNIFORM INSTRUMENT Form 3028 1 /01 (year i ufRyuge,/
<br />97ACV (14021 1623537
<br />1I0 11Nca I'loo,
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