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�Q��07663
<br />Any application of payments, insurance proceeds, or Miscellaneous Proc,eeds to principal due under the Note
<br />shall not extend or postponc the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Borrower shall pay to Lender 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 S�urity 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 required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any,
<br />or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurauce premiums in
<br />accordance with the provisions of �ction 10. These items aze called "Escrow Items." At originarion oz at
<br />any time during the term of the Loan, Lendez 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 Escrow
<br />Item. Bonower shall promptly furnish to Lender ail notices of amounts to be paid under tlus Section.
<br />Bonower shall pay Lender the Funds for Eserow Items unless Lender waives Borrower's obligation to pay
<br />the Funds for any or all Escrow Items. Lender may waive Bonower's obligation to pay to Lender Funds for
<br />any or all Escrow Items at any time. Any such waiver may only be in wtiting. In the event of such waiver,
<br />Bonower shall pay directly, when and where payable, the amounts due for any Escrow Items for which
<br />payment of Funds has been waived by Lender and, if Lender requires, sha11 furnish to Lender receipts
<br />evidencing such payment within such time period as Lender may require. Borrower's obligation to make
<br />such payments and to provide r�;eipts shall for all putposes be deemed to be a covenant and agrcement
<br />contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If
<br />Bonower is obligated to pay Fscrow Items directly, pursuant to a waiver, and Borrower fa.ils to pay the
<br />amount due for an Escrow Item, Lender may exercise its rights under Se�tion 9 and pay such amount and
<br />Borrower shall then be obligated under 5e�tion 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 Seetion 15 and,
<br />upon such revocation, Bonower shall pay to I.ender all Funds, and 'vn such amounts, that aze then required
<br />under this Section 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 specified under RESPA, and (b) not to exceed the maximum 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 e�nditures of future Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an insritution whose deposits aze insured by a federal agency, instrumentality, or
<br />entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home
<br />Loan Bank. I,ender shall apply the Funds to pay the Escrow Items no later than the time specified vnder
<br />RESPA. Lender shall not charge Bonower for holding and applying the Funds, annually analyzing the
<br />escrow account, ar verifying the Escrow Items, unless Lender pays Bonower interest on the Funds and
<br />Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or
<br />Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Bonower any
<br />interest or earnings on the Funds. Borcower and Lender can agr� in writing, however, that interest shall be
<br />paid on the Funds. Lender shall give to Bonower, without chazge, an annual accounring of the Funds as
<br />required by RESPA.
<br />If there is a suzplus of Funds held itt eserow, as defined under RESPA, Lender shall account to Bonower for
<br />the excess funds in accordance with RE5PA. If there is a shortage of Funds held in escrow, as defined under
<br />RESPA, Lender shall notify Bonower as required by RESPA, and Borrower shall pay to Lender the amount
<br />necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If
<br />there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall norify Bonower as
<br />NEBRASKA-Single Famlly-Fannie Mae/Freddte Mac UNIFORM INSTRUMENT
<br />VMP �
<br />Wolters Kluwer Flnancial Services
<br />Form 3028 1 /07
<br />VMPBINE) (1905)
<br />Pape 6 of 17
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