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20��0689�
<br />Any application of payments, insurance proceefls, or Miscellan�us Proceeds to principal due under the Note
<br />shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Bonower shall pay to I,ender on the day Periodic Payments are due under the
<br />Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes
<br />and assessments and other items which can attain priority over this Security Instrument as a lien or
<br />encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums
<br />for any and all insurance requirerl by Lender under Se,ction 5; and (d) Mortgage Insurance premiums, if any,
<br />or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in
<br />accordance with the provisions of Section 10. These items aze callerl "Fscrow Items." At originarion or at
<br />any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and
<br />Assessments, if any, be escrowed by Bonower, and such dues, fees and assessments shall be an Fscrow
<br />Item. Bonower shall prompdy fiunish to Lender all norices of amounts to be paid under this Section.
<br />Bortower shall pay I.ender the Funds for Fserow Items unless Lender waives Borrower's obligation to pay
<br />the Funds for any or all Fscrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for
<br />any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver,
<br />Bonower shall pay dir�tly, when and where payable, the amounts due for any Eserow Items for which
<br />payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts
<br />evidencing such payment within such time �riod as Lender may require. Borrower's obligation to make
<br />such payments and to provide receipts shall for all purposes be d�med to be a covenant and agreement
<br />contained in this Security Instrument, as the phrase "covenant and agreement" is used in Secrion 9. If
<br />Borrower is obligated to pay Escrow Items dir�tly, pursuant to a waiver, and Bonower fails to pay the
<br />amount due for an Escrow Item, Lender may exercise its rights under S�tion 9 and pay such amount and
<br />Borrower shall then be obligated under Secrion 9 to repay to Lender any such amount. Lender may revoke
<br />the waiver as to any or all Escrow Items at any time by a notice given in accordance with Se,ction 15 and,
<br />upon such revocation, Bonower shall pay to Lender all Funds, and in such amounts, that are then required
<br />under this S�rion 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the
<br />Funds at the time sp�ified under RESPA, and (b) not to exc�eed the �rimum amount a lender can require
<br />under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable
<br />estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or
<br />entity (including Lender, if Lender is an institution whose deposits aze so insured) or in any Federal Home
<br />Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under
<br />RESPA. Lender shall not cha.rge Bonower for holding and applying the Funds, annually analyzing the
<br />escrow account, or verifying the Escrow Items, unless Lender pays Bonower interest on the Funds and
<br />Applicable Law permits Lender to make such a c�arge. Unless an agreement is made in writing or
<br />Applicable La�v r�aires irnerest to be paid oa t�e Funds, Lender shall not be requirefl to pay Borrower any
<br />inter�t or earnings oa the Funds. Bonower and Lender can agree in writing, however, that inter�t shall be
<br />paid on the Funds. I.ender shall give to Bora�ower, without charge, an annual accounting of the Funds as
<br />r�uired by RES�'A.
<br />If there is a sutplus of Funds held in escrow, as defined under RFSPA, Lender shall account to Borrower for
<br />the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as definefl under
<br />RESPA, Lender shall norify Borrower as required by RESPA, and Bonower shall pay to Lender the amount
<br />nec�ssary to make u� the shortage in accordance with RESPA, but in no more than 12 monthly payments. If
<br />there is a deficiency of Funds held in eserow, as defined under RESPA, Lender shall notify Bonower as
<br />NEBRASKA-Single Family-Fannie Maeffreddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />VMP � VMP6(NE) (1105)
<br />Woltars Kluwer Financial Services Pege 5 of 17
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