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<br />Any application of payments, insurance praceeds, or Miscellaneous Proceeds to principal due uttder 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 aze 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 Progerly, 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 Insurance premiums in
<br />accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at
<br />any time during the term of the Loan, L,�nder 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 sha11 promptly furnish to Lender all norices of amounts to be paid under this S�rion.
<br />Bonower shall pay Lender the Funds for Escrow Items unless Lender waives Bonower's obligarion to pay
<br />the Funds for any or atl Escrow 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 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, shall furnish to Lender r�eipts
<br />evidencing such payment within such time period as Lender may require. Bonower's obligation to make
<br />such payments and to provide re.ceipts shall for all purposes be d�med to be a covenant and agreement
<br />contained in this 5ecurity Instrument, as the phrase "covenant and agr�ment" is used in Secrion 9. If
<br />Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the
<br />amount due for an Escrow Item, Lender may exercise its rights under Se,crion 9 and pay such amount and
<br />Borrower sha11 then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke
<br />the waiver as to any or all Fserow Items at any time by a notice given in accordance with Section 15 and,
<br />upon such revocation, Bonower shall pay to Lender all Funds, and in such amounts, that aze then required
<br />under this Secrion 3.
<br />L,ender 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 exgenditures of future Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an insritution whose deposits are insured by a federal agency, instYVmentality, or
<br />entity (including Lender, if Lender is an institution whose deposits are 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 sp�ified under
<br />RESPA. Lender shall not charge Borrower 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 T.ender to make such a charge. Unless an agreement is made in writing or
<br />Appiicable I.aw requires urterest to be paid on the Funds, Lender shall not be required to pay Bonower any
<br />interest or earnings on �e Funds. Bonower and L�nder can agree in writing, however, that interest shall be
<br />paid on the Funds. Lender shall give to Bonower, without charge, an annual accounting of the Funds as
<br />a�equired by RESPA.
<br />If there is a surplus of Fvnds 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, L.ender shall notify Bonower as required by RESPA, and Bonower 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 notify Bonower as
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />VMP � VMP6(NE) (1105)
<br />Wolters Kluwer Financtal Services Page 5 of 17
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