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<br />of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called
<br />"Escrow Items." At origination or at any time during the term of the Loan, Lender may require that
<br />Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues,
<br />fees and assessmenls shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of
<br />amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless
<br />Lender waives Borrower's obligation to pay the Funds for any or all Eserow Items. Lender may waive
<br />Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver
<br />may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where
<br />payable, thc amounts due for any Escrow Items for which payment of Funds has been waived by Lender
<br />and, if Lcnder requires, shall furnish to Lender receipts evidencing such payment within such time period
<br />as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all
<br />purposes be deemed to be a covenant and agreement contained in fuis Security Instrument, as the phrase
<br />"covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly,
<br />pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise
<br />its righls under Section 9 and pay such amount and Borrower shall then be obligaled under Seclion 9 to
<br />repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any
<br />time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to
<br />Lender 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
<br />apply fue Funds al fue time specified under RESPA, and (b) not to exceed the maximum amount a lender
<br />can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data
<br />and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with
<br />Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency,
<br />instrumentality, or cntity (including Lender, if Lender is an institution whose dcposilS are so insured) or
<br />in any Federal Home T ,oan Bank. T ,ender shall apply the Funds to pay the Escrow Items no later than the
<br />time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds,
<br />annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower
<br />inten::st on the Funds and Applicable Law permits Lender to 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
<br />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
<br />annual accounting of the Funds as required by RESP A.
<br />Tf there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account 10
<br />Borrower for the excess funds in accordance with RESPA If there is a shortage of Funds held in escrow,
<br />as defined tmder RESPA, Lender shall notity Borrower as required by RESPA, and Borrower shall pay 10
<br />Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12
<br />monthly payments. If there is a deficiency of Funds hcld in escrow, as defined under RESPA, Lender
<br />shall notify Borrower as required by RESPA, and Borrower shall pay to Lender fue amount necessary to
<br />make up the deficiency in accordance with RESP A, but in no more than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly
<br />refund to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and
<br />impositions attributable 10 the Property which can attain priority over this Security Tnstrument, leasehold
<br />payments or ground rents on the Property, if any, and Comnnmity Association Dues, Fees, and
<br />Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the
<br />manner provided in Section 3.
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<br />NEBRASKA - Single Family - Fannie MaelFreddie Mac UNIFORM INSTRUMENT WITH MERS
<br />M(NE) (0407).01 Page 5 of 16
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<br />Forr 3028 1101
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