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201108345
<br /> Any �pplication of pay�i�ents, insw�aaica proceeds, or Viiscellaneo�is Proceeds to pi7ncipal due under tho Note
<br /> shall nol extend or posl�one tho dne date, or cl�anga the�tnount, oP Clio Periodic Paymentis.
<br /> 3. Hl��nds for Ngero�v ltemS. Boirower shall pay to Lender on Che day Periodic Payments are due undcr the
<br /> Note, unfil Uic Notc is paid in fu11, a swn(the'Bunds") to provide for payment oi'aanounts due for: (a)faxas
<br /> and nssessmants nnd other ilen�s which oan attain prioriCy over this Seemity I�i5truanent as a lien or
<br /> enemnbrance on the Property; (b) Ieasehold paymcnts or ground rents on ttie Property, if any; (c) premiums
<br /> for any axid all insurance required by Lendec under Section 5; and(d) Mortgaga Ineurnnce premiuma, if any,
<br /> or any stuns payablc by Borrowcr to T.ender in lieu of the�tigment of Mortgage lalsiu�ance pr€�niums in
<br /> accord2nce with the provieione of Seclion 10_ 'I'hcse ite�i�s are called "Escrow Ihems," At origiitation or aY
<br /> any time duruig tha tenn oFthe Loan, Lender m�y require that CommnniCy AssociaYion Dues, Fees, at�d
<br /> Assesstnents, if any, be escrowed Uy Burrower, and sLiclz dues, fees and psse.ssments sl�all be au Esorow
<br /> Item. Borrower shall promptly fiunish to Land�r all notiocs of amounCs to Ue paid under ulvs Section.
<br /> Borrower sha11 pay I,ender the Funds for Escrow Items Lmless I,etxie��wnives Bnrrower's obligaCion to pay
<br /> the Fnnds for ury or a11 Escrow Items. Lender may wnive Borrowcr's obligation to pay to Lender P'unds for
<br /> a�ry or all Nscrow ltems at any tiine. Ang such wziver may oiily Ue in writing. In Uie event o£such wniver,
<br /> Borrowec shall pay direoCly, whc�� and where payable, Ylie amounts due Far any Escrow]t�tns for v�hich
<br /> payment o£I'unds hae been waived l�y Lendcr and, if l;ender requires, sha11 furnieh Co Lender rweipts
<br /> evidencing such payinent wiYhin such time petiod as Lender may rcqttire, Rorrower'e oUligation io niakc
<br /> sach��ayments and to pro�+ide reoeipts sliall for nll pw•pases be daemed to bo ti covenaut and agroementi
<br /> contained in this Sectu�ity InstrumenC, �s thc phrase"coveuant and ag�•eement" ie used in 5cc6on 9, lf
<br /> Borrowar ia obligTted to pay Escrow Itenva ciireotly, pursuazit Cer a waiver, aAid Bon•ower£ails to pay Cho
<br /> amowrt due for a�i Escrow ltein, Lendar rna�y exercise its righta tmder Scction 9 aixd pa�y such aznount nnd
<br /> Borrower sl�all thcn bo obligatod auder Section 9 Co repay to Lender nny such amount. L�idar may revoke
<br /> the waiver as Io 2ny or a11�scrow Items ait aity tiil�e by a notice given in aocordnnco with Sectiou 15 and,
<br /> upon suoh revocetion, Borrower shall pay lo Lcndcr all Fwxd�, and in such amount,c, fUaC are(1��7�required
<br /> under Uiis Section 3.
<br /> Lender may, at any tiine, collect and hold Punds in an ainount(a}suffioienf to permit Lender Co apply the
<br /> Funds at thc timo spec�ficd tiinder RESPA, and(b)not to exceed fhe maximum amount a lender e2n require
<br /> under RESPA. Leuder shall esLim�Ye tho amom�t of runds dua ai the bASia of oiu�rcnt data and reasonabla
<br /> cstimates of expe��di,tnres of firtiue�scrow Items or othercviae in accordanco with Applicable Law.
<br /> Che I^unds sha11 be held in an it�stitution whose depoeits are insured by a fcderal agency, insU�mnentnlity, or
<br /> entity(inchtding Lender, iP Lend�h�is an n�sfihttion whose deposits nre so inaured) or rn any Federal Home
<br /> Lo�n Benk. Lender sh�ll apply tha Funds Co pay thc Wscrow]tems no laCer than the time specified under
<br /> RESPA. Lander shall not charge Borrower for holdiiig aud applying the Funds, annually aualyzing tl�o
<br /> escrow account, or verifying tlie Escrow IYeins, unless Lendex pays Bnrrower interest ou the Funds amd
<br /> Applicable I�1w permiPs Londcr to�ma1re sucli a charge. Unless an agteement is made in�vi�tin�or
<br /> Applicable Law requires interest to be paid on tho Nunds, Leuder sl�all uot Ue required Co pay Borrc�wer any
<br /> intere9t oi• eariun�;s on the Funds. Borrower and Lender cati agrco in writing, howaver, Yhat intexest sh�tll Ue
<br /> pttid on tha Fimds. Lcnder shall give to Rorrowar, withouY charge, an ammal accomlfing of tl�e Funds es
<br /> required by RESPA.
<br /> Sf there is a surplus of Punde held in escrow, as dcfincd under T2LSPA, Lender slinll accounf to Sorrower for
<br /> the axcess fiuids ni acoordauce with ItESPA. I£there is �shortage of Pmids held in escrow, as defined under
<br /> RHSPA, I.ender shall notify RorA�ower fls rc�uired by RESPA, tuid Bormwer shall pay to Lender the an�ount
<br /> neceseary To is�akc u}x the shortage in �ccordaaice wiYh It�SPA, buC in no more than 12 inonthly paymente. If
<br /> there is a defioiency ol'Punda helci in escrow, as defined Liuder RESPA, Zendec shall notify Rorrower as
<br /> za�soa
<br /> NE8RA9KA-3ingle Famlly.Pennie Mae7frqddleMao UNIFORM INSTRUMFJJT Form 3028 77�1
<br /> VM P OO VM P(3(N6)(1105)
<br /> Wolters Kluwer Flnanolelfiervloas Page 5 of 17
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