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201200640 2. Application of Payments or Proceeds. Except as othenvise described in this Seccion 2,all payments accepted and applied by Lender shall be applied in the following order of prioriry: (a)interest due under the Note;(b)principal due under the Note;(c)amounts due timder Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges,second to any other amounts due under this Security Ins[rument,and then to reducc the principal balance of the Note. If Lender receices a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due,the payment may be applied to the delinquent payment and the late charge.If mare than one Periodic Payment is outstanding,Leiider may apply any payment received fiom Borrower to the repayment of the Periodic Payments if,and to the extent that,each payment can be paid in full. To the extent Hiat any excess exists after tl�e payment is applied to the full paycnent of one or more Periodic Payments,such excess may be applied to any late charges due.Voluntary prepayments shall be applied first to any prepayment charges and then as described in The I�ote. Any application of payments,insurance proceeds,or MiscelLaneous Proceeds to principal due undzr the Iv'ote shall not extend or postpone the due date,or change the amount, of the Periodic Payments. 3. Punds for Eserow Items.Borrower shall pay to Lender on the day Periodic Payments are due under thc Note,wrtil the Note is paid iu full,a sum(the"Funds")to provide for payment of amounts due for:(a)taaces and assessments and other items which can attain priority over tbis Security Instrument as a lien or encumbrance on the Property;(b)leasehold pa}nnents or ground rents on the Properry,if any;(c)premiums for any and all insurance required by Lender under Section 5;and(d)Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Secuon 10. These items are called"Escrow Items."At origination or at any time during the term of the Loan,Lender may require that Community Association Dues,Fees,and Assessinents, if any,be escrowed by Borrower,and such dues,fces and assessments shall be au Escrow Item. Borrower shall promptly fiunish[o Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items.Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time.Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay dirzctly,when and where payable,the amounts due for any Escrow Items for which paymeut of Fuuds has been waived by Lender and,if Lender requires,shall furnish to Lender receipts evidencing sucl�payment within such time period as Lender may require.Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreemcnt contained in this Security Instrument,as the phrase"covenant and agreement"is used in Section 9. If Borrower is obligated Yo pay Escrow Items directly,pursuant to a waiver,and Borrower fails to pay the amount due for an Escrow Item,Lender may exercise its rights under Section 9 aud pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation,Borrower shall pay to Lender all Funds,and in such amounts,that are then required mider this Section 3. Lender may,at any dme,collect and hoid Funds in an amount(a)sufficient to permit Lender to apply the Funds at the time specified under RESPA,and(b)not to�ceed tlie maYimum amount a lender can require under RESPA Lender shall estimate the amotuit of Funds due ou thz basis of current data and reasonable estimates of expenditures of future Escrow Items or othenvise in accordance with Applicable Law. eeoiizass7 sao�izass� NEBRASKASingle Fam;ry-Fann��.e MaelFreddie Nao 11NIFORM INSTRUMENT WITH MERS Ferm 3028 1101 VMP(J VPdP6A�NE)(11D5J Wolters Kluwe•Financial Services Page 5 0`17