|
<br />10071008.
<br />
<br />second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment rrom Borrower for a delinquent Periodic Payment which includes a sufficient
<br />amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more
<br />than one Periodic Payment is outstanding, Lender may apply any payment received rrom Borrower to the repayment of
<br />the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists
<br />after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any
<br />late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the
<br />Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note
<br />shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Borrower shall pay to Lendcr on the day Periodic Payments are due
<br />under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a)
<br />taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance
<br />on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance
<br />required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower
<br />to Lender in lieu of the paymcnt of Mortgagc Insurance premiums in accordance with the provisions of Section 10.
<br />These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require
<br />that Community Association Dues, Fces, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid
<br />under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's
<br />obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender
<br />Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver,
<br />Borrower shall pay directly, when and whcre payable, the amounts due for any Escrow Items for which payment of
<br />Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment
<br />within such time period as Lendcr may require. Borrower's obligation to make such payments and to provide receipts
<br />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 Scction 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a
<br />waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9
<br />and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount.
<br />Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section
<br />15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required
<br />under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficicnt to permit Lender to apply the
<br />Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can requirc under
<br />RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of
<br />cxpenditures offuture Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall bc held in an institution whose deposits arc insured by a federal agency, instrumentality, or
<br />entity (including Lender, if Lcnder is an institution whose deposits arc so insured) or in any Federal Home Loan Bank.
<br />Lcnder shall apply the Funds to pay the Escrow Items no latcr than the time specified under RESPA. Lender shall not
<br />charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or vcrifying the Escrow
<br />Items, unless Lender pays Borrower intercst on the Funds and Applicable Law permits Lender to make such a charge.
<br />Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not
<br />be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing,
<br />however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual
<br />accounting of the Funds as required by RESPA.
<br />J f there is a surplus of Funds hcld in escrow, as defined under RESP A, Lender shall account to Borrower for
<br />the exccss funds in accordance with RESP A. If there is a shortage of Funds held in escrow, as defined under RESP A,
<br />Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make
<br />up the shortage in accordance with RESP A, but in no more than 12 monthly payments. If there is a deficiency of
<br />
<br />Nebraska Deed of Trust-Single Family-Fannie Mae/Freddie Mac Uniform
<br />Instrument
<br />
<br />4
<br />
<br />Form 302801101
<br />14001NE08/00
<br />@2000, The Compliance Source, Inc.
<br />
<br />lDoc Id 6646 Rev. 01.15.07]
<br />
<br />;;rc-
<br />
<br />~
<br />
|