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201109107
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<br />s�hall for all pttrposes be deemefl to be a covenant and agrcement contained in this Security Instrument, as the pbzase
<br />"covenant and agreement" is used in Section 9. if Borrower is obligated to pay Escrow Items dire�dy, pursua�at 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 Borrower shall then be obligated nnder S�tion 9 to repay to Lender anq such amount.
<br />Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accord�ce with Section
<br />15 aad, upon such zevocation, Bonower shall pay to Lender all Fhnds, and in sucli amounts, that are then required.
<br />under this Section 3.
<br />Lender may, .at any time, collect and hold F�mds in an amount (a) sufficient to permit Lender io apply the Punds
<br />at the time specified under RFSPA, and (b) not to exceed the maximum aznount a iender can require nnder RESPA.
<br />Laader shall esti�ate the amount of Funds due on the basis of curremt data and reasonable estimates of expenditures
<br />of future Escrow Items or otherwise in accordance with Applicahie Law.
<br />The Funds shall be held in an institution whose tleposits aze insured by a federal agency, instrumentality, or
<br />entity (incluc3ing Lender, if Lender is an i�astitution whose deposits aze so insured) or in azry Federal Home Loan
<br />Bank. Lender shall apply the Funds to pay the Escrow Items no later than the tinae specified under RESPA. L$nder
<br />shall not charge Borrower for holding and applying the Funds, anntzally analyzing the escrow account, or verifying
<br />the Lscrow Items, uniess Lender pays Bozrower interest on the Funds and Applicable Law penmits Lender to ma�ce
<br />such a charge. Uniess an agreement is made in writing or Applicable Law requires interest to be paid on the Funds,
<br />I.ender shall not be required to pay Borrower any iu�terest or eamings an the FS�nds. Borrower and I,ender can agree
<br />in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an
<br />annual accountirig of tl�e Funds as required by RFSPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, L.snder shall account to Borrower for
<br />the excess funds in accordance with RESPA. If thexe is a shortage of Funds held ia escrow, as defined under RRSPA,
<br />I.�nder shall notify Borro�ver as required by RESPA, and Boaower shall pay to Lender the amount necessary to make
<br />up the shortage iux accordance with R�SPA, but in no more than 12 monthly payments. If there is a deficiency of
<br />Funds held an escrow, as defined under RESPA, Lender shalt notify Borrower as required by RESPA, and Borrower
<br />sriall pay to Len�er the amount necessary to malce up the de�icisncy in accordance with RESPA, but in no more than
<br />12 monthty payments.
<br />Ugon payntent in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower
<br />any Fun.ds held by T..ender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, cbarges, fines, and impositions attributable to
<br />the Properry wbich can. attain priority over this Security T*+. , m . t, leasehold payments or ground rents on the
<br />Properry, if any, an@ Community Association Dues, Fees, and Assessments, if any. To the extent that these itams
<br />are F�crow Items, Borrower shall pay them in. the manuer provided iun Section 3.
<br />Borrower shall pzomptly discharge any lien which has priority over this Securiry Jnstniment unless Bonower:
<br />{a) agrees in wriring to the payment of the obligation secured by the lien in a n+a�Pr acceptable to Lender, but only
<br />so long as Borrower is performing such agxceme�; (6) conte.sts the lien iu good faith by, or defends against
<br />enforcement of ihe lien in, legal proceedings which in Lender's opiuion operate to prevent the enforcement of the lien
<br />while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder
<br />of the lien an agreement satisfactory to Lender subordinating the lien to this Security In. �m�nt. If Lender
<br />determines that any part of the Property is subject to a lien which can attain priority over this Security rnsuument,
<br />Lender may give Borrower a notice identifying ihe lien. Within 10 days of the date on which tbat notice is given,
<br />Bozrower shaIl sarisfy the lien or take one or more of the actions set forth above in this Secrion 4.
<br />I.ender may require Borxower to pay a one-time charge for a real estate tax verificarion andlor reporting sereice
<br />used by Lendez in coAnection with this Loan.
<br />5. Propertq Insarance. Borrower shall ke�p the improvements now existing or hereafter erected on the
<br />Property insured against loss by fire, hazards includeai within the texm "extended coverage, " and an}� other hazards
<br />including, but not limited w, earrhquakes and floods, for wttich Lender requires insurance. This insurance shall be
<br />maintained in the amoimts (incIuding deductible levels) and for the periods that Lender rec�uires. What Lender
<br />reqv.ires pursuant to the preceding sentences can change during the term of the Loan. Tlte inc��ran�� �arrier providing
<br />the insurance sl�all be chosen by Borrower subj ect to Lender's right to disapprove Borrowez's choice, which right shall
<br />not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a on�
<br />time charge for flood. zone determination, certification and tracldng services; or {b) a one-time charge for flood. zone
<br />determination and certification services and subsequent charges each time remappings or siniilar changes occur which
<br />reasonably might afFect such determination or certification. Borrower shall also be responsible for the payment of
<br />any fee.s i�posed by the Federal Emergency Management Agency in connection with the review of any flood. zone
<br />detenmmation resuiting fxom an objection by Bonower.
<br />If Borrower fails to main ;n any of the coverages described above, Lender may obtain incifranee �p �
<br />Lender's option and Boaower's expense. Lender is under no obligarioa to purchase any particular type or amount
<br />of coverage. Therefore, such coverage s,hall cover Lender, hut might or mzght not protect Borrower, Borrower's
<br />equity in the Properry, or the coutents of the Property, against any risk, hazard or liability and naight provide greater
<br />or lesser coverage tban wac previously in effect. Boaower ac�owledges that the cost of the insurance coverage so
<br />obtained might significantly exceed the cost of insurance thai Borrower could have obtained. Any amounts disbursed
<br />by Le,�der under this Section 5 shall become additional debt of Borrower sectued by this Security Instrument. The.se
<br />amoimts shall bear interest az rhe Note rate from the daie 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 shall be subject to Lender's right to
<br />disapprove sach po&ci.es, shall include a standard mortgage clause, and shall name Lender as mortgagee aad/or as an
<br />NEBRAStCA—Single Family—FannEe Mas/Fredd(e Mac UNIFORM INSTRUMEA(T - MERS . DecEla eQ�
<br />Form 3028 1/07 Page 4 of 9 9 www.d�rmag/c.mm
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