|
2oioos934
<br />premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
<br />Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow
<br />Items." At origination or at any time during the term of the Loan, Lender anay 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. Borrower shall promptly furnish to Lender all notices of a�nounts to
<br />be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives
<br />Borrower's obligation to pay the Funds for any or al] Escrow ltems. Lender may waive Borrower's
<br />obligation to pay to Lendcr 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 f'or any Escrow Items for which payment of Funds has b�en waived by Lender and, if Lender requires,
<br />shall furnish to Lender receipts evidencing such paymeait within such time period as Lender may require.
<br />Borrower's ohligation to make such payments and to provide receipts shall for all purposes be decmcd to
<br />be a covenant and agrcement contained in this Security Instrwnent, as the phrase "covenant and agreement"
<br />is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and
<br />Borrower fails to pay the amount due fc�r an Escrow Item, [,ender 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 to any or all Escrow Items at any time by a notice given in
<br />accordance with Section 15 and, upc�n such revocation, Borrower shall pay to Lender all Funds, and in
<br />such unounts, that arc thcn required under this Section 3.
<br />Lender may, at any time, collcct and hold Funds in an amount (a) sufficient to permit Lender to apply
<br />the �'unds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can
<br />require under RESPA. Lender shall estimate the amount of Funds due �n the basis of current data and
<br />reasonable estimates of expenditures of future Escrow Items or otherwise in accardance with Applicable
<br />Law.
<br />The Funds shall be held in an institution whose dep�sits 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 ta pay the Escrow items no later than the time
<br />specitied under RESPA. Lender shall not charge Borrower for holding anci applying the Funds, annually
<br />analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the
<br />Funds and Applicable Law permits Lender to make such a charge. Unless an a�;reement is n�►ade in writing
<br />or Applicable Law requires interest to be paid on the Funds, Lender shall not hc required to pay Borrower
<br />any interest or earnings on the Funds. Borrower and Lender can agrce in writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the
<br />Funds as required by RESPA.
<br />If there is a surplus oF Funds held in escrow, as defined under RESPA, Lender shall account io
<br />Borrower for the excess funds in accordance with R�SYA. If there is a shortage of Funds held in escrow,
<br />as defined under RESPA, I,,ender shall notify Borrower as required by RESPA, and Borrower skaall pay to
<br />Lender the amount necessary to make up the shortage in accordance with RESPA, but in nn more t'han 12
<br />monthly payments. If there is a deficiency of Funds held in escrow, as dcf'incd under RESPA, Lender shall
<br />notify Borrower as requircd by RESPA, and Borrower shal] pay to Lender the amount necessary to make
<br />up the deficiency in accordance with RESPA, but in no more than 12 inonth]y 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; Lien�. Borrower shall pay all taxes, assessments, charges, Fines, and i�a�positions
<br />attributable tn the Property which can attain priority over this Security Instrument, leasehold payments or
<br />ground rents on the Property, if any, and Conununity Association Ducs, Fees, and Assessments, if any. To
<br />the extent tha[ these items are Esccow Items, Borrawer shall pay them in the manncr provided in Section 3.
<br />NEBRASKA - Single Family Fannie MaelFreddie Mac UNIFORM INSTRUMENT /�
<br />�-6(NE) 1o8tt1 Page 5 ot 15 initials: K� Form 3028 7/O1
<br />O
<br />. . � � . ,
<br />
|