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20�iQ7945
<br />Any application of payments, insurance proceeds, or Mitscellaneous 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. 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 Security Insizvment as a lien or
<br />encumbrance on the Phroperty; (b) Ieasehold payments or ground rents on the Property, if any; (c) premiums
<br />for any and all insurance zequire�d, 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 Insurance premiums in
<br />accordance with the provisions of Section 10. These items aze called ^Escrow Items." At origination 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 Borrower, and such dues, fees and assessments shall be an Escrow
<br />Item. Bonower shall prompfly furnish to Lender all notices of amounts to be paid under this Secfion.
<br />Bonower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay
<br />fhe Funds for any or all Escrow Items. T,ender may waive Borrower's obligation to gay to Lendex Funds for
<br />any or all Escrow Items at any time. A� such waiver may only be in writing. In the event of such waiver,
<br />Borrowez shall pay direcfly, 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, shall furnish to T.ender receipts
<br />evidencing such payment within such time period as Lender may require. Borrower's obligation to make
<br />such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement
<br />contained in this Security Instrument, as the phrase "covenant and agreement" is usect in Section 9. If
<br />Borrower is obligated to pay Escrow Items directly, pursvant to a waiver, and Borrower fails to pay the
<br />amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and
<br />Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender ma,y revoke
<br />the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and,
<br />upan such revocation, Borrower shall pay to Lender all Funds, and in 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 spec�ed under RESPA, and (b) not to exceed the maximum amount a lender can require
<br />under RF.SPA. 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 L,aw.
<br />The Funds shall be held in an institution whose degosits are 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. Lender sha11 apply the Funds to pay the Escrow Items no later than the time specified under
<br />RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the
<br />escmw account, or verifyiug the Escrow Items, unless L.ender pays Borrower 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 Borrower any
<br />interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be
<br />paid on the Funds. T.,ender shall give to Borrower, without charge, an annual accounting of the Funds as
<br />required by RESPA.
<br />ff there is a surplus of Funds held in escrow, as defined under RESPA, 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 defined under
<br />RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to i.ender the amount
<br />necessary to make up the shortage in accorda.nce with RESPA, but in no more than 12 monthly payments. If
<br />there is a deficiency af Funds held in escrow, as defined under RESPA, I.ender shall notify Borrower as
<br />NEBHA5KA-Sfr�le Famfly-Fannla MaelFreddie Mac UNIFORM IN3TRUMENT Form 3028 1/01
<br />VMP � VMPB(PIE) (i 9061.00
<br />Woltars Kluwer Finertcial Sarvicas Page 6 of 17
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