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201008582
<br />priority over this Security instrument as a lien or encumhrance on the Property; (b) leasehold payments or ground rents nn the Property, if
<br />any; (c) premiums for any and all insurance required by Lender under Section S; and (d) Mortgage Insurance premiums, if any, or any sums
<br />payable by Borrower to Lender in lieu of the payrnent of Mortgage lnsurance premiurns 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 i,oan, I.ender may require that Community
<br />Association Dues, Fees, and Assessments, if any, be escrowed by F3orrower, and such dues, fees and assessments shall be an Escrow Item.
<br />13arrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the r'unds for
<br />Escrow Items unless Lender waivas Borrower's obligation to pay the Timds for any or all Escrow Items. Lender may waive Borrower's
<br />obligation to pay to Lendar T� unds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such
<br />waiver, Borrower shal I pay directly, when and where payablo, the amounts due for any Escrow Ttems for which payment of Funds has been
<br />waived by Lender and, if Lender requiras, shall furnish to Lender receipts evidancing such payment within such fime period as Lender may
<br />require. Borrower's ohli�ation to rnake such payments and to provide receipts shall fnr all purposes be deemed to be a covenant and
<br />agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If I3orrower is obligated to
<br />pay Escrow Items directly, pursuant to a waiver, and Borrower Fails to pay the amount due for an Escrow item, i.ender may exercise its
<br />rights under 5ection 9 and pay such arnount and Borrower shall than be obligated under Section 9 to repay to I�ender any such amount.
<br />Lender may revoke the waiver as to any or all Escmw Items at any time by a notice given in accordance with Sectian 1 S and, upon such
<br />revocation, Borrower shall pay ta Lender all Funds, and in such amaunts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold �'unds in an amaunt (a) sufficient to permit Lender co apply the Funds at the time
<br />specified under RCSPA, and (b) not to exceed the maximum amor�nt a lender can require under RF,SPA. I�ender shall estimate the amount
<br />of �'unds due on the basis of current data and reasonable estimates oFexpenditures of future Escrow Ttems or otherwise in accordance with
<br />Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal a�;ency, instrumentality, or entity (includin�
<br />Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay
<br />the Escrow items no later than the time specified under RESPA. I�ender shall not charge Borrower for holding and a�►plying the Funds,
<br />annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable
<br />Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable I.aw requires interest to be paid on the
<br />Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and I,ender can agree in writin�,
<br />however, that interest shall be naid on the Funds. Lender shall �;ive to Borrower, without charge, an annual accounting of the Funds as
<br />required by RESPA.
<br />lf there is a surplus of P'unds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in
<br />accordance with RESPA. Ifthcre is a shortage of Fimds held in esorow, as defined under RESPA, Lender shall notify Borrower as required
<br />by RESPA, and C3orrower shall pay to Lender the amount necessary to make up the shortage in accordanca with l2ESPA, but in no more
<br />than ]2 monthly payments. ifthere is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as
<br />required by RESPA, and E3nrrawer shall pay to Lender the arnount necessary to make up the deficiency in accordance with RCSPA, but in
<br />no mare th�n 12 monthly payments.
<br />Upon p�yment in full of all sums securad by this Security Instrument, L,ender shall promptly refund to Borrower any Cunds held by
<br />Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which
<br />can attain priority over this Security Instrument, leasehold payments or ground rants on the Property, ifany, and Community Association
<br />Dues, l�ees, and Assessrnents, if any. To the extent that these items are Cscrow Items, Bnrrower shall pay them in the rnanner provided in
<br />Section 3.
<br />Borrower shall prom�tly dischar�e any lien which has priority over this Security Tnstrument unless Borrower: (a) agrees in writing
<br />to the payment of the obligation secured by the lien in a manner acceptahle to Lender, k�ut anly so lo'ng as Bormwer is performing such
<br />agrecment; (b) contests the lien in good faith by, or defends against enforcement ofthe lien in, legal proceedings which in Lender's opinion
<br />operatc to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are conaludcd; pr (c)
<br />secures frorn the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender
<br />determines that any part oF the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give
<br />Borrower a notice identifying the 1 ien. W ithin I 0 days of the date on which that notice is given, Borrower shall satisfy the lien or take one
<br />or more of the actions set forth ahove in this Section 4.
<br />Lender may require Borrower to pay a one-time charg� for a real estate tax veriCcation and/or raporting service used by
<br />Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements no.w existing or hereafter erected on the Property insured against
<br />loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited co, earthquakes and
<br />floads, for which Lender reyuires insurance. This insurance shall be maintained in the amounts (including deductible levels) and fbr the
<br />periods that Lender requires. What Lender requires pursuant to the preceding sentences can chan�e during the term of the Loan. The
<br />insurance carrier providing the insurance shall be chosen by Borrower suhject to l,ender's right to disapprove Borrower's choice, which
<br />right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge
<br />for flnod zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certi�cation
<br />services and subsequent char�es each time remappings or similar changes occur which reasonably might affect such determination or
<br />certification. Borrowcr shall also be responsible for thc payment of any fees imposed by the Federal Emer�;ency Mana�ement Agency in
<br />connection with the review of any flood zone determination resulting from an objection by T3orrower.
<br />If Borrower fails to maintain any ofthe coverages described above, Lender may obtain insurance coverage, at Lendar's option and
<br />E3orrawer's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall
<br />cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents otthe Property, against any risk,
<br />hazard or liabil ity and might provide greater or lesser covera�e than was previously in etfiect. Borrower acknowladges that the cost pf the
<br />insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed
<br />by Lender under this Section 5 shall become additional debt of Borrowar secured by this Security Instrument. These amounts shall bear
<br />interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to [3orrower
<br />requesting payment.
<br />All insurance policies required by L,ender and renewals of such policies shall be subject to Lender's right to disapprove such
<br />policics, shall include a standard mortgage clausc, and shall name Lender as mort�;a�ee and/or as an additianal loss payee. I.,ender shall
<br />have the right to hold the policies and renewal certiecates. if Lender requires, Borrower shall promptly give to Lender all receipts of paid
<br />premiums and renewal notices. If I3orrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or
<br />destruction of, th� Property, such policy shall include a standard mort�age clause and shall name Lender as mortga�ee and/or as an
<br />additional loss payee.
<br />In the event of loss, l3orrower shall give prompt notice to the insurance carrier and Lender. Lender may rnake proof af Ipss if not
<br />mada promptly by Borrower. Unless Lender and F3orrower otherwise agree in writing, any insurance procceds, whether or not the
<br />NEBRASKA -Single Family-�annle Mae/Freddle Mac UNIFQRM INSTRUMENT with MERS Form 3028 1l01
<br />Page 3 af 8 QBp,J�
<br />ios, inc. Borrower(s) Initi � C�" lT�
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