|
241002125
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity
<br />(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Laan Bank. Lender shall
<br />apply the Funds to pay the Escrow Items no later than the time specified under ]tESPA. Lender shall not charge Harrower for
<br />holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays
<br />Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is trt~de in
<br />writing or Applicable Law requires interest to be paid on the Funds, Lender shall oat be required to pay Borrower any interest
<br />or earnings on the Funds. Horrawer and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds as required by KESPA.
<br />If there is a surplus of Funds held in escrow, as defined under 1tBSPA, Lender shall account to Borrower for the excess
<br />funds in accordance with RESPA. if there is a shortage of Funds held in escrow, as defined under 1tESPA, Lender shall notify
<br />Borrower as required by 1tESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in
<br />accordance with 1tESPA, but in no morn than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined
<br />under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to
<br />makeup the deficiency in accordance with RESPA, but in no mare than I2 monthly payments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any
<br />Funds held by Lender.
<br />4. Charges; Liens, Borrower shall pay all taxes, assessments, charges, fines, and imposjtions attributable to the Property
<br />which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and
<br />Community Association Dues, Fecs, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall
<br />pay them in the manner provided in Section 3.
<br />Borrower shall promptly discharge any lien which has priority aver this Security Instrument unless Borrower: (a) agrees in
<br />writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so Inng as Borrower is
<br />perfornting such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal
<br />proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending,
<br />but only until such 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 subject to a -ien which
<br />can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the
<br />date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this
<br />Section 4,
<br />Lender may require Borrower to pay cone-time charge for a real estate tax verification and/or reporting service used by
<br />Lender in connection with this Loan.
<br />5, property Insurance. Borrower shall keep the improvements now existing or hereafter erected on Che Property insured
<br />against loss by fire, hazards included within the term "extended coverage;' and any other hazards including, but not limited to,
<br />earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including
<br />deductible levels) and for the periods that Lender requires.. What Lender requires pursuant to the preceding sentences can
<br />change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to
<br />Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower
<br />to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking
<br />services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time
<br />remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be
<br />responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the
<br />review of any flood zone determination resulting from an objection by Borrower.
<br />!f Borrower fails to maintain any of the coverages described. above, Lender may obtain insurance coverage, at Lender's
<br />option and Borrower's expanse, Lender is under no obligation to purchase any particular type or arnnunt of coverage.
<br />Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or
<br />the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was
<br />previously in effecK. Borrower acknowledges that the cast of the insurance coverage so obtained might significantly exceed
<br />the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall
<br />become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Nate rate
<br />from the date of disbursement and shall be payable, with such interest, upon notice fiom Lender to Borrower requesting
<br />payment. -
<br />Nl'c13tL4SKA -Single Family -Fannie Mao/Fraddio tlAac UNIFORM INSTRUMENT
<br />iA!A1~.gINE) (oai~i Page5o~t4 imur:: Form y0T8 1/l)t
<br />bt7~S-mNE9
<br />ionmer~~n~n
<br />
|