|
� � �Q�1��4�G
<br />,�
<br />�,: ,,,; .,.
<br />sfiall for atl purposes be d�med to be a covenant and agr�ment contained in this Secnrity Instrament, as the ghrase
<br />"covenant and agxeeme�at" is used 'ui Section 9. If Borrowar is obligated to pay Escxow Items directly, pursuaat to
<br />a waiv,er, and Borrc�wer fails to pay the amount due for � Escrow Item, Lender may eacezcise its rights undez Section
<br />9 and pay such amouat and Borrower shall then be obligated undez Section 9 to repay to Lender any such amount.
<br />Lender may revo�e the waiver as to any or aII Escrow Ytems at any time by a norice given in accordance wittf Section
<br />15 and, upon su�ch revocarion, Bozrower shall. pay ta T ender aII F�ads, and in such a�aaounts, that are then required
<br />uuder � Section 3.
<br />�der may, at any time, collect and hold Funds in an amoimt (a) su�i.cient to permit I.ender to apply the Funds
<br />at the �une specified tmder RESPA, a�ad (b} not to exceecl the maximum amount a Iender can requu'e uuder RESPA.
<br />I.ender shall estinaate the amount of Funds due on the basis of current data and reasonable estimates of e�penditures
<br />of fut�re Escrow Items or othexwise in accordance with Applzcable Law.
<br />The Funds shall be�eld im a�a institutioa whose d�osits are insured by a federal agency, instr.vmentality, or
<br />entity �(including Lender, if Lender is an institataon whose deposi.ts are so insured) or in any Federal Honae Loan
<br />Bank.'� Lender shall apply the Funds,io pay the Escrow Items no later than the time speCified under RESPA. Lender
<br />shail ziot chazge Barrower for holding�and applying the Funds, ann�ually analyzing the escrow account, or verifying
<br />the'Es�row Items, unless Lender pays Boaawer interest on t3ie Funds and Applicable La.w pezxruts Lendec to ma�Ce
<br />such a charge. Unless an agreement is mada in writing or Applicable I,aw requires interest to be paid on the Fuads,
<br />Lende�r shall not be required to pay Bozxower any interest or earnings on the Funds. Borrower and Lender can agree
<br />in wri�aug, however, that interest shall be paid on the Funds. Lsnder shall give to Borrower, without charge, an
<br />annua� acxounting af the Funds as required by RL�SPA.
<br />T� there is a surplus of Runds held in escrow, as defined under RESFA, I.�nder shall accavrn to Borrowez for
<br />the exc.ess funds iun accordance vc+ith RLSPA. If there is a shortage of Funds helfl in escrow, as defined under RESPA,
<br />T.,e�endei shall natify Borrower as zequired by RESPA, and Borrower shall pa.y to i.ender the amount ne�essary to make
<br />up the,shortage in accordance with R�SPA, but in. no more th�w 12 monthly payments. If there is a deficiency of
<br />Funds'held in escxow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower
<br />sha�I pay to I.endez the amourn ne�essaxy to make up the deficiency in accordance with RESPA, but in no mare than
<br />12 mo�tbly payments. ' .
<br />Upon payment in fuU of all sums secured by this Security Tnstrument, Lender sha�l prompfly refund to Borrower
<br />auy l�nds held by Lender.
<br />�� Charg�; Liens. Borrower shatl pay a11 taxes, assassments, charges, fines, and i�z�aapositions atm'butable to
<br />the. Propezry which can attaia� priority over this S�urity Instrument, leasehold paymeni� or ground rerns on the
<br />Prope�ty, if auy, and Co�amv.nity Association Dues, Fees, and Assessments, if any. To the extent that th�se iten�s
<br />are Es�.xow Items, Borrower sLall pay ttzem in. the manuer provided in Secrian 3.
<br />Borrower sha11 promptly discharge any lien. which has priority ovez this S�urity Instrument imless Borrower:
<br />(a} agrees in wriring to the payment of the obligation secured by the lien in a manner acceptable to L�nder, but only
<br />so long as Borrower is perfarmip.g such agreement; {b) contests the lien in good faith by, or defends against
<br />enforcement of the Iien in, leg�al proceedings wtciich zn Lsnder's opinion operate to prevent the enforcement of the lien
<br />whiie those gzaceedings are peading, but only until such proceedin.gs are concluded; or (c) secar�s from the holder
<br />of the` lien an agreement satis:facactqry to Lender subordinating the lien to this S�vrity Znsmime.nt. Lf Lender
<br />det r ° es that any part of the Property is subje�t to a lien which can attain priority over this Secvrity Instnrment,
<br />Lender may give Borrower a notice idendfying the lien. Within l.0 days of the date on which that notic� is given,
<br />Borroaver shall satisfy the lien or tal�e one or more of the actions sat forth above in tvis Section 4.
<br />� L.ender may require Bonrower tb,pay a ane-time chazge for a real estaxe tax verificatian and/or reportung service
<br />us�d by Lender in cannectzon. wittc t7�.fs L.oan.
<br />5. Property Inswrance. Borrower shall ke�p the improvements now ezisring or heze�after er� on tlze
<br />Property iz�sured against loss by fire, hazards included within the term "extead� coverage,° and any other hazazds
<br />including, brrt not Iimited to, eaxthquakes an@ floods, for which I.snder requires insurance. This insuzance shaIl be
<br />m.aintain�3 in the xmounts (including deductible ievels) and for the periods that Lender requires. What Lender
<br />reqnires pursuant to the prececiiug se�itences can change �uring the terna of the Loan. The insr.u�ance cazzier providing
<br />theinsuzance sb.aIl be chosen by Borrower subject to Lender's right ta disapprove Borrowes's choice, which right shall
<br />not be exercised unreasonably. Lender may requira Borrower to pay, in coffiection with #his Loan, either: (a) a one-
<br />time charge for flood zone determination, certificatian and �acldng services; or {b} a one-time charge for flood. zone
<br />determination and certification seivices and subseqnent charges each time remaPPings or similaz changes occz,u which
<br />xeasonably might affect such determination or certification. Borrower shall aiso be responsible foz the payment of
<br />any fee.s imposed by the Federal Emergency Management Agency in conuection with the review of any flood. wne
<br />determination resuiting from an objecbion by Bonower.
<br />If Borrower fails to mainta;n any of the coverages descrabed above, Lender may obtain insuu�an.ce coverage, at
<br />I.ender's option aud Borrower's expense. T,.ender is umdez no abligation tv purcktase any particular type or amouat
<br />of coverage. Therefore, such coverage shali caver L�n@er, but might or might not pmtect �orrower, Bozrower's
<br />e�xtY in the Property, or fhe conrents of the PropertY, against any risk, hazard or liabiLity and might provide greater
<br />or lesser coverage than was previously in effect. Borrower aclmowledges that the cost of the iwsurancs coverage so
<br />obtained might significantly exceed the cost of in,surrance tlgat Borrower cou18 have obtained. A�ay amounts disbursed
<br />by T�nder under this Section 5 shall become additionat debt of Borrower secured by this Security Insttument. Th�e
<br />a�azvwats shall bear interest at the Nate rate from the da.te of disbursement and. shall be payable, with such interest,
<br />npon notice from Lendez to Bokxowez requesting payment.
<br />All insuxance policies required by Lender and renewats of such policies shaIl be subj�:t to Lender's right to
<br />disapprove sucb. policies, shall include a standard m,ortgage clause, and shall name Lender as mortgagee and/or as an
<br />NEBRASKA—Single Famlly—Fannle MaeiFreddie Mec UNIFORM INSTRUMEN7 - MERS
<br />Form 3028 1/01 Page 4 of 11
<br />��
<br />Dndl?a,glC
<br />www,dovnagic.com
<br />
|