|
<br />200709533
<br />
<br />when and where payable, the amounts due for any Escrow Items for which payment of Funds has been
<br />waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment
<br />within such time period as Lender may require. Borrower's obligation to make such payments and to
<br />provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this
<br />Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is
<br />obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due
<br />for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower
<br />shall 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,
<br />upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then
<br />required under this Section 3.
<br />
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply
<br />the Funds at the time specified under RESP A, and (b) not to exceed the maximum amount a lender can
<br />require under RESP A. Lender shall estimate the amount of Funds due on the basis of L'UlTent data and
<br />reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with
<br />Applicable Law.
<br />
<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
<br />in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than
<br />the time specified under RESPA. Lender shall not charge Borrower tor holding and applying the
<br />Funds, annually analyzing the escrow accOlUlt, or veritying the Escrow Items, unless Lender pays
<br />Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an
<br />agreement is made in writing or Applicable Law requires interest to be paid on the FWlds, Lender shall
<br />not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree
<br />in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without
<br />charge, an annual accounting of the Funds as required by RESPA.
<br />
<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 RESP A. If tllere is a shortage of Funds hcld in
<br />escrow, as defined under RESPA, Lender shall notifY Borrower as required by RESPA, and Borrower
<br />shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in
<br />no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under
<br />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
<br />monthly payments.
<br />
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to
<br />Borrower any Funds held by Lender.
<br />
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable
<br />to the Property which can attain priority over this Security Instrument, leasehold payments or ground
<br />rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the
<br />extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
<br />
<br />Borrower shall promptly discharge any lien which has priority over this SeL'Urity Instrument lmless
<br />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
<br />in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's
<br />opinion operate to prevent tlle enforcement of the lien while those proceedings are pending, but only
<br />until such proceedings are concluded; or (c) secures from the holder of the lien an agreement
<br />satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines tliat any
<br />part of the Property is subject to a lien which can attain priority over this SeL'Ufity Instrument, Lender
<br />
<br />NEBRASKA. Sing)i:Fllmily' F.Bllk MuJtrcddk M.c: UNIFORM INSTRUMENT
<br />~ 2004'2006 Copyright C<""pli..,co Sy>I","". I"". 2D26.6E63. 2006.11.140
<br />Sh,g1o Family Roal Est.to. Security "~t"""""l DL2047
<br />
<br />r.go40f14
<br />
<br />Farm ,OUl101
<br />www.compliancesystoms.com
<br />800.968.8522 - Fax 616-956-1868
<br />
|