|
KEVIN S KISER TINA KISER 2 0 1 1 0�� a.9 10/14/2011
<br />3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note,
<br />until the Note is paid in fizll, a sum (the "Funds") to provide for payment of amounts due for: {a) taxes and assessments and
<br />other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold
<br />payments or ground rents on the Property, if any; (c) premiums for any and all insarance required by Lender under Section
<br />5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Bonower to Lender in lieu of the payment of
<br />Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At
<br />origination or at any time during the term o£ 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 Escrow Item. Borrower
<br />shall promptly furnish to Lender all notices of amounts to be paid under this Section. Boxrower shall pay Lender the Funds
<br />for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may
<br />waive Borrower's obligation to pay to Lender 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 due for any
<br />Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall fumish to Lender
<br />receipts evidencing such payment within such time period as Lender may require. Bonower's obligation to make such
<br />payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security
<br />Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items
<br />directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights
<br />under Section 9 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 accordance with
<br />Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required
<br />under Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at
<br />the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender
<br />shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future
<br />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 entity
<br />(including Lender, if Lender is an institution whose deposits are so insured) ar in any Federal Home Loan Bank. Lender
<br />shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge
<br />Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless
<br />Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an
<br />agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to
<br />pay Bonower any interest or eamings on the Funds. Bonower and Lender caa agree in writing, however, that interest shall
<br />be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by
<br />RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the
<br />excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender
<br />shall notify Bonower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the
<br />shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in
<br />escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender
<br />the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds
<br />held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions ariributable to the
<br />Properly which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any,
<br />and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items,
<br />Bonower shall pay them in the manner grovided in Section 3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Bonower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as
<br />Bortower is perForming such agreemeat; (b) contests the lien in good faith by, or defends against enforcement of the lien in,
<br />legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are
<br />pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory
<br />to Lender subordinating the lien to this Security Insttument. If Lender determines that any part of the Property is subject to
<br />a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien.
<br />Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions
<br />set forth above in this Section 4.
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service
<br />used by Lender in connection with this Loan.
<br />5. Property Insurance. Bonower shall keep the improvements now existing ar hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not
<br />limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts
<br />(including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding
<br />sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by
<br />Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably.
<br />Lender may require Bonower to pay, in connection with this Loan, either: (a) a one-tune charge for flood zone
<br />determinarion, certification and tracking services; or (b) a one-rime charge for flood zone determination and certification
<br />services and subsequent charges each time remappings or similar changes occur which reasonably might affect such
<br />determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal
<br />Emergency Management Agency in connection with tbe review of any flood zone determination resulting from an objection
<br />by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at
<br />Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of
<br />coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the
<br />Properly, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage
<br />than was previously in effect. Borrower acknowledges that . the cost of the insurance coverage so obtained might
<br />signifiaantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this
<br />Section 5 shall become additional debt of Borrower secured by tYus Security Instrument. These amounts shall bear interest
<br />at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to
<br />Borrower requesting payment.
<br />NEBRASKA--Single Family-Fannie Mae/Freddie Mac UNIFORM IN5TRUMENT Form 3028 1/Ol
<br />NE21oM-2 4/2010 Original (Recorded) Copy (Braneh) Copy (Customer) Page 3 of8
<br />
|