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<br />shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase
<br />"covenant and agreement" is used in Section 9. If Bonower is obligated to pay Escrow Items directly, pursuant to
<br />a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section
<br />9 and pay such amount and Bonower shall then be obligated under Section 9 to repay to Lender any such amount.
<br />Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section
<br />15 and, upon such revocation, Bonower 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 Funds
<br />at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA.
<br />Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures
<br />of future Escrow Items or otherwise in accordance with Applicable L.aw.
<br />The Funds sha11 be held in an institution whose deposits aze insured by a federal agency, instrumentality, or
<br />entity (including Lender, if Lender is an institution whose deposits aze so insured) or in any Federal Home Loan
<br />Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender
<br />sha11 not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying
<br />the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make
<br />such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds,
<br />Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree
<br />in writing, however, that interest shall be paid on the Funds. Lender shall give to Bonower, without chazge, an
<br />annual accounting of the Funds as required by RESPA.
<br />If 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 RE5PA. If there is a shortage of Funds held in escrow, as defined under RESPA,
<br />Lender shall notify Borrower as required by RESPA, and Bonower shall pay to Lender the amount necessary to make
<br />up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of
<br />Funds held in escrow, as defineci under RESPA, Lender shall notify Bonower as required by RESPA, arid Bonower
<br />shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than
<br />12 monthly payments.
<br />Upon payment in full of all sums secured by this 5ecurity Instrument, Lender shall promptly refund to Bonower
<br />any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to
<br />the Property which can attain priority over this 5ecurity Instrument, leasehold payments or ground rents on the
<br />Properly, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items
<br />are Escrow Items, Bonower shall pay them in the manner provided in Section 3.
<br />Bonower sha11 promptly discharge any lien which has priority over this Se,curity Instrument unless Bonower:
<br />(a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only
<br />so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against
<br />enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien
<br />while those proceedings are pending, but only until such procee�iings aze concluded; or (c) secures from the holder
<br />of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instruxnent. If Lender
<br />determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument,
<br />Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given,
<br />Bonower shall satisfy the lien or take one or more of the actions set forth above in this Section 4.
<br />Lender may require Borrower to pay a one-time chazge for a real estate tax verification andlor reporting service
<br />used by Lender in wnnection with this Loan.
<br />5. Property Insurance. Bonower shall keep the improvements now existing or hereafter erected on the
<br />Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards
<br />including, but not lunited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be
<br />ma.intained in the amounts (including deductible levels) and for the periods that Lender reqnires. What Lender
<br />requires pursuant to the preceding sentences can change during the term of the Loan. The insurance catrier providing
<br />the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall
<br />not be exercised unreasonably. Lender may require Bonower to pay, in connection with this Loan, either: (a) a one-
<br />time chazge for flood wne determination, certification and tracking services; or (b) a one-time chazge for flood zone
<br />determination and certification services and subsequent chazges each time remappings or similar changes occur which
<br />reasonably might affect such determination or certification. Bonower shall also be responsible for the payment of
<br />any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone
<br />determination resulting from an obj�tion by Bonower.
<br />If Bonower 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
<br />of coverage. There�ore, such coverage sha11 cover Lender, but might or might not protect Bonower, Bonower's
<br />equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater
<br />or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so
<br />obtained might significantly exceed the cost of insurance that Bonower could have obtained. Any amounts disbursed
<br />by Lender under this Section 5 sha11 become additional debt of Borrower secured by this 5ecurity Insm�ment. These
<br />amounts sha11 bear interest at the Note rate from the date of disbursement and shall be payable, with such interest,
<br />upon notice from Lender to Borrower requesting payment.
<br />All insurance policies required by Lender and renewals of such policies sha11 be subject to Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an
<br />NEBRASKA--Single Family--Fennie Mae/Freddie Mec UNIFORM INSTRUMENT - MERS pocMeg/c�
<br />Form 3028 1/07 Page 4 of 11 www.docmagfc.com
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<br />Ne3028.mzd.�1
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