|
2olooss54
<br />premiurns, if any, or any sums payable by Sorrower to I..ender in lieu of the payment of Mortgage
<br />Tnsurance premiums in accardance with the provisions of Section 10. 'These iterns are called "Escrow
<br />Items." At originatian ar at any tirne during the term of the Loan, Lend�r may require that Community
<br />Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Barrawer shall promptly furnish to I..ender all natices of amounts to
<br />be paid under ihis Section. Borrower shall pay Lender the Funds for Escraw Items unless Lender waives
<br />Borrower's obligation to pay the Funds for any or all Fscrow Items. I.ender may waive Borrower's
<br />obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be
<br />in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts
<br />due for any Escrow Items for which payment of �unds has been waived by Lender and, if Lender requires,
<br />shall furnish to Lender receipts evidencing such payment within such time period as Lender may require.
<br />Borrower's obligation ta make such payments and to provide receipCs shall for all purposes be deemed to
<br />be a covenant and agreement cantained in this Security Instrurnent, as the phrase "covenant and agreement"
<br />is used in Section 9. If Bonower is abligated to pay Escrow Items directly, pursuant ta a waiver, and
<br />Borrower fails to pay the amount du� for an Escrow Itern, Lender may exercise its rights under Section 9
<br />and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such
<br />amount. Lender may revoke the waiver as ta any ar all Escrow Items at any time by a notice given in
<br />accordance with Section 15 and, upon such revocation, Borirower shall pay to Lender all Funds, and in
<br />such amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an arnount (a) suf�cient to permit Lender to apply
<br />the Funds at the time specified under R�SPA, and (b) nat ta exceed the maximum amount a lender can
<br />require under RESPA. L.ender shall estimate the amount of Funds due on the basis of current data and
<br />reasonable estimates of expenditures of future Escrow Items or atherwise in accordance with Applicable
<br />Law.
<br />The Funds shal.l be held in an institution whose deposits are insured by a federal agency,
<br />instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in
<br />any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time
<br />specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually
<br />analyzing the escrow account, or verifying the Escrow Items, unless L,ender pays Borrower interest on the
<br />Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing
<br />or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower
<br />any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest
<br />shall be paid an the Funds. Lender shall give to Borrower, withaut charge, an annual accounting of the
<br />Funds as required by RESPA.
<br />If there is a surplus of Funds held in escmw, as defined under RESPA, Lender shall account to
<br />Borrawer 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 to
<br />Lender the amount necessary to rnake up the shortage in accordance with RESPA, but in no more than 12
<br />monthly payments. If there is a deficiency of Funds held in escrow, as de�ined uuder RESPA, Lender shall
<br />natify Borrower as required by RESPA, and Borrower shall pay to Lender the amount n�cessary to rnake
<br />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 pramptly refund
<br />to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, �nes, and unpositions
<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, To
<br />the extent that thess iterns are Escrow Items, Borrower shall pay tham in the rnanner provided in Sectian 3.
<br />NEBRASRp - 5ingle Family - Fannle Mae/Freddie Mac UNIFORM (NSTRUMENT
<br />�-6(NE) �osi i� Papa 5 of 15 in�s�ai�� Form 3028 1/01
<br />nb�� � �sb C..�!'� ., �
<br />
|