|
200905121
<br />1877121322
<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 />interest 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 RESPA.
<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 RESPA. If there is a shortage of Funds held in escrow,
<br />as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay
<br />to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than
<br />12 monthly payments. If there is a deficiency 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
<br />make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund
<br />to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which can attain priority over this Security Instrument, leasehold payments or
<br />ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any.
<br />To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in
<br />Section 3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless
<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 in
<br />good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion
<br />operate to prevent the enforcement of the lien while those proceedings are pending, but only until such
<br />proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender
<br />subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is
<br />subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a.
<br />notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall
<br />satisfy the lien or take one or more of the actions set forth above in this Section 4.
<br />Lender may require Borrower to pay a one -time charge for a real estate tax verification and/or
<br />reporting service used by Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected
<br />on the Property insured against loss by fire, hazards included within the term "extended coverage," and
<br />any other hazards including, but not limited to, earthquakes and floods, for which Lender requires
<br />insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the
<br />periods that Lender requires. What Lender requires pursuant to the preceding sentences can change
<br />during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower
<br />subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised
<br />unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one -time
<br />charge for flood zone determination, certification and tracking services; or (b) a one -time charge for
<br />flood zone determination and certification services and subsequent charges each time remappings or
<br />similar changes occur which reasonably might affect such determination or certification. Borrower shall
<br />also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency
<br />in connection with the review of any flood zone determination resulting from an objection by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance
<br />coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any
<br />NEBRASKA -- Single Family -- Fannie Mae /Freddie Mac UNIFORM INSTRUMENT Form 30281/01
<br />First American Loan Production Services ()nage 6 of 16)
<br />First American Real Estate Solutions LLC
<br />FALPS# QJ25 : 06/08
<br />
|