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20080880" 4048504390 I f Lender receives a paYlllent rrom Borrower for a delinquent Periodic Payment \vhich includes a sufficient amount to pay any late charge due, the payment may be appliecl to the delinquent payment and the late charge, lfmore than one Perioclie Payment is outstancling, Lencler may apply anv payment received from Borrower to the repayment of tile Periodic Payments if, and to the e:\tent that, each pavment can be paid in fulL To the e:\tcnt that any e:\cess c:\ists after the payment is applied to the rull payml'nt of one or more Periodic Payments, such e:\cess may be applied to any late charges due, Voluntary prepayments shall be applied first to any prepayment charges and then ns describe,l in the Note. Any applieution of puyments, insurance pro<:eeds, or Miscellaneous Proel:l:ds to principal due undl:r the Notl: shall not e:\tend or postpone the due date. or change thl: amount, of the Pcriodi<: PaYlnenls. 3. Funds fur Escruw Items, Borrower shall pay to Ll:nder on the day Pl:riodic Payments arc due under the Note, until lhe Note is paid in fulL n sum (the "Funds") to proyidl: for payment of amounts dUI: for: (a) taxes and ,lssessments and other items whieh can attain priority over this Sl:eurity Instrument as a lien or encumbrance on the Property~ (b) leasehold payments or ground rents on the Propl:rty, if any~ (c) premiullls for any nnd all insunmcl: required by Lender under Section 5; and (d) Mortgage Insurance prl:miums, if UlW, or any sums paynble by ,Borrower to Lender in lieu of the payment of Mortgage Insurance premiullls in accordance with the provisions of Section 10. Thl:se items arc callcd "l':scrow llems" At origination or at any time during the term of tlw 1 ,oan. Lender mny require that Comlllunity Association Dues, I'ees, and Assessments, if any, be escrowed by Borrower, ami such ducs, fees and assl:ssments shall be an Escrow llem. Borrower shall promptly fumish to Ll:nder all noti<:es or amounts to be paid under this Section. Borrower shall pay Lemler the Funds for Escrow llems unless I,ender waives BOfT(.l\\er's obligation to pay the Funds 1"11' any or u II Escrow Items, Lender may waivc Borrower's obligation to pay to Lendcr I'unds 1'01' any or all Escrow Items at any time. Any such \vaiver l11av only be in writing, In the cvent of such \nliver, Borrower shall pay directly, whcn and whcre payable, the amounts due for nny Escrow Items f()]' which payment of l'unds has been waived by Lendcr aJllL if Lender requires, shall furnish to Lcnder receipts evidencing such payment within such time period as Lender may require, Borrower's ohligation to make such payments and to provide receipts shall for all purposes he deemed to be a covenant and agreement contained in this Seeurity Instrument, as the phrase "covenant amI agreement" is used in Section 9, I r Borrower is obligated to pay l.':saow Items directly, pursuant to a waiver, and Rorrower rails to pav the amount due ror an l':scrow Item. I ,ender may I:xereisl: its rights ,mder Section 9 and pay such amount and BOITO\Vl:r shalllhl:n bl: obligated lUlder Sedion 9 to repay to Lender any such amount. Lender may revoke the waiver as to anv or all Escrow Items at any time bv a notice given in accordance with Sed ion 15 and. upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, thaI are then requiretl under this Sedion ], I ,ender \JUt\', at any time, collect and hold hmds in un amounlta) sufficient to pennit I ,ender to apply the F'Ulds at the time specified under RIISPA, and (b) not to e:\ceed the ma:\imulll alllOll\Jt ,I lender can require under RESPA. Lender shall cstimate the alllount of Funds due on the basis of CU/Tent data and reasonable estimates of e:\penditllres of future Escrow Items or otherwise in w:eordnnce with Applicable Lav,. The Funds shall be held in an institution whose deposits arc insured by a federal agency, instnllucntality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federalllome Loan Bank, Lender sh,lll apply the Funds to pay the Escrow Items no later than the time speciried under RESPA. Lender shall not charge Borrower f()r holding and applving the Funds. annually analFing the escrow account. or verilying the bcrow Items, unless Lender pays Borrower interest on the I'unds and Applicable Law pcrmits I,ender to make such a charge. Unless an agreement is madc in "Tiling or Applicable La\\ requires interest to be paid on the hmds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and [,cnder can agree in \\Tiling, howcver, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge. an annual accounting of the Funds as required by RESPA. I I' there is a surplus of Funds held in escrow, as defined under RI":SP A, Lender shall uccount to Borrower for the e:\eess funds in accordance with Rl.':SPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify 130ITo\ycr as required by RESPA. lInd Borrower shall pay to Lender the amount necessary to make up the shortnge in ac<:ordance with RESP A, but in no lUore than 12 monthly pavments, If then~ is a deficiency of Funds hcld in escrow, as defined under RFSPA, Lender shall notify Borrower as required bv R.ESI'A. ami Borrower shnll pay to Lender the amount necessary to make up the deficiency in accordance wilh RI":SPA. but in no more than 12 monthly' payments. Upon pavment in full or all Sluns secured by this Securitv Instrument. I,emler shall promptly rcrund to Borrower (mv I,'unds held by Lender -\, Charges; Lil'ns, BorrO\n~r shall pay all taxes, assessments, charges, fines, and impositions attributable lo the Propertv which can attain priority oyer this Security Instrument, leasehold payments or ground rents on the Propcrty, if any, NEllRASK"'"Singl~ Family ,FlInni,' !\1l1l,/Freddi,' 1\1;Il'lINIFOR!\1INSTlHIMEl"T '\lodill,''E;:) :;~S.2 Pag~ 4 or t2 Form 3028 11m