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201009351
<br />any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mort�age insurance premiums, if any, nr any sums
<br />payable 6y Borrower to Lender in lieu of the payment af Mortgage Insurance premiums in accordance with the provisians of Sectinn 10.
<br />'C'hese items are called "Escrow items." At origination or at any time during the term of the I..oan, Lender may require that Community
<br />Association Dues, Fees, and Assessments, if any, be escrnwed by Borrower, and such dues, fees and assessments shall be an �scrow itcrn.
<br />Borrower shall promptly furnish to Lender all nntices of amounts to be paid under Chis Section. Rorrower shall pay Lender the Funds for
<br />Escrow Items unless Lender waives Borrower's abligation to pay the Punds fnr any or all Escrow items. Lender 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 in writing. In the event of such
<br />waiver, Borrower shall pay directly, when and wherc payable, the amounts due for any Escrow Items forwhich payment ofFunds has been
<br />waived by I.ender and, ifLender requires, shall furnish to [.ender receipts evidencing such payment within such time period as Lender may
<br />require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and
<br />agreement contained in this 5ecurity Instrument, as the phrase "covenant and agreement" is used in Section 9. ifFiorrower is obligated to
<br />pay Escrow Ttems directly, pursuant to a waiver, and Borrower fails to pay the amaunt duc for an Escrow Item, Lender may exercise its
<br />rights under Section 9 and pay such amount and Borrnwer shall then be obligated undcr Secfion 9 to repay to Lender any such amount.
<br />Lender may revoke the waiver as to any or all Escraw Ttems at any time by a notice given in accordance with Section 1 S and, upon such
<br />revocation, Borrower shall pay to Lender all Funds, and in such arnounts, that are then required under this 5ection 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time
<br />specified under RESPA, and (b) not to exceed the maximum amount a lender catt require under RF.SPA. Lender shal I estimate the amount
<br />ofFunds due on the basis of current data and reasnnable estimates of expenditures of future Escrow Items or otherwise in accardance with
<br />Applicable Law.
<br />The Funds shall bc held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including
<br />Lender, if Lender is an institution whose deposits are so insured) or in any Federa) Home Loan Bank. Lender shall apply the Punds to pay
<br />the F,scrow items no later than the time specified under RESPA. Lender shall not charge Rorrower for holding and applying the Futtds,
<br />annually analyzing the escrow accnunt, orverifying the Escrow Ttems, unless i.ender pays Borrower interest on the Funds and Applicable
<br />Law permits I.ender to make such a charge. Unless an a�reement is made in writin� or Applicable T�aw requires interest to be paid on the
<br />Funds, Lender shall not be required to pay Borrower any interest or earnings nn the Funds. Borrower and Lender can agree in writing,
<br />hnwever, that interest shall bc paid on the Funds. I,ender shall give to Borrawer, without charge, an annual accounting of the Funds as
<br />required by RESPA.
<br />Tf there is a surplus of Funds held in escrow, as defined under RESPA, Lender shal l account to Borrower for the excess funds in
<br />accordance with RESPA. Ifthere is a shortage ofFunds held in escrow, as defined under RESPA, Lender shall notify Bottower as required
<br />by RF.,SPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more
<br />than 12 monthly payments. if there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify C3orrower as
<br />required by RESPA, and [3orrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in
<br />no more than 12 monthly payments.
<br />Upon payment in full of al I sums secured by this Security instrument, Lender shall promptly refund to Borrowet any Funds held by
<br />Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, char�;es, fines, and impositinns attributable to the Property which
<br />can attain priority over this Security instrument, leasehold payments or ground rents on the Property, if any, and Community Association
<br />Dues, I�ees, and Assessments, if any. To the extent,that these items are Escrow items, Borrawer shall pay them in the manner provided in
<br />Section 3.
<br />Borrower shall promptly discharge any lien which has priority overthis Security Instrument unless �3orrower: (a) agrees in writing
<br />to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only sa long as Borrower is performin� such
<br />agreement; (b) contests the lien in good faith by, or defends against enforcement o1'the lien in, legal proceedin�s which in Lender's opinion
<br />operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c)
<br />secures from the holder of the lien an agreement satisfactory to Lender subordinating thc lien to this Security insttvment. Tf i,ender
<br />determines that any part of the Praperty is subject to a lien which can attain priority over this Security Instrument, Lender may give
<br />Barrower a notice identifyin� the lien. Within 10 days ofthe datc on which that notice is given, Borrower shall satisfy the lien or take one
<br />nr more of the actions set forth a6ove in this Section 4.
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or repoMin� service used by
<br />Lender in connection with this Loan.
<br />5. Praperty insurance.l3orrower shall keep the improvements now 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 to, earthquakes and
<br />floods, for which Lender requires 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 precedin�; sentences can change during tha tcrm of the Loan. The
<br />insurance carrier praviding the insurance shall be chosen by Borrower subject to Lender's right to disapprove Iiorrower's choice, which
<br />right shall not be exercised unreasonably. Lendet may requite Borrower to pay, in connection with this Loan, either: (a) a �ne-time charge
<br />for flood zonc determination, certification and tracking services; or (b) a one-time charge for flood zbne determination and certification
<br />services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or
<br />certification. $otrower shall also be responsible for the payment of any fees imposed by the Pcderal �mergency Management Agency in
<br />connecCion with the review of any flood zone determination resulting from an objection hy Borrower.
<br />IfBorrower fails to maintain any afthe coverages described above, Lender may obtain insurance enverage, at Lender's opCion and
<br />Borrnwer's expense. Lender is under no obli�ation to purchase any particular type or amount af coveragc. Therefore, such covera�e shall
<br />cover Lertder, but might or might not protect Borrower, E3orrower's equity in the Property, or the contents of the Property, against any risk,
<br />hazard or liability and might provide greater or lesser covera�e than was previously in effect. Borrower acknowledges that the cost of 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 Borrower secured by this Security instrument. These amounts shall 6ear
<br />interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from i.ender to Borrnwer
<br />requesting payment.
<br />All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such
<br />policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall
<br />have the right to hold thc policies and renewal certificates. Tf i.ender requires, Rorrower shall promptly give to Lender all receipts of paid
<br />premiums and renewal notices. If �3orrower obtains any form af insurance coverage, not otherwise required by Lender, far damage to, or
<br />destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an
<br />additional loss payee.
<br />in the event of loss, Rorrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not
<br />made promptly by Borrower. Unless Lender and $orrowet otherwisc agree in writin�;, any insurance proceeds, whether or not the
<br />underlyin� insurance was required by Lender, shall be applied to restnration or repair af the Property, if the restoration or repair is
<br />NEBRASKA -Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT with MERS Form 3028 1/01
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<br />ios, i�c. Borrower(s) Initials
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