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201200826 2. Application of Payments or ProCeeds. Except as otherwise described in this Section 2,all payments accepted and applied by Lender shall be applied in the following order of priority:(a)interest due under the Note;(b)principat due under the Note;(c)amounts due under Section 3. Sucli 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 o[her amounts due under this Security Instrument, and then to reduce tl�e principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amomit to pay any late charge due,the payment may be applied to flie delinquent payment and the late charge.If morc than one Periodic Payment is outstanding,Lender may apply any payment received from Borrower to lhe repayment of the Periodic Payments if,and Co the extent that,cach payment can be paid in full. To the extenY that any excess exists after the payment is applicd to ehe full payment of one or more Periodic Payments,such excess may be applicd to any late charges due.Voluntarv 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 prii�cipal due uuder the Note shall not extend ar postpone the due date,or change the amount, of the Periodic Payments. 3. FUnds for Escrow Items.Borrower shall pay to Lender on thc day Periodic Payments are due under tha Note,until the Note is paid u�full,a sum(the"Funds")to provide for payment of amounts due for: (a)taxes and assessments and other items which can aztain priority over this Security Instrument as a licn or encumbrance on the Property;(b)leasehold payments 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 licu of the payment of Mort=age Insurance premiums in accorda��ce widl the provisions of Section 10. These items are called"Escrow Items."At oria nation or at any time during the term of the Loan,Lcnder may require that Community Association Dues,Fees,and Assessments,if any;be escrowed by Borrower,and such dues,fees and assessments shall be an Escrow Tte�n.Borrower shall promptly furnish to Lender all notices of amounts to be paid under tUis Section. Borrow�er shall pay Lender the Funds for Escrow Items unless Lender waives Borrower';obligation to pay the Funds for any or all Escrow Items.Lender may waive Bottower's obligation to pay to Lender Funds for any or ali Escrow items at any Time.Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly,when and where payable,the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and,if Lender requires, shall fiunish to Lender receipts evidencing sucl�payment within such time period as Lender may require.Borrower's obligation to make such payirents and to provide receipts shall for all purposes be deemed Yo be a covenant and agreement contained in this Security Instrument,as the phrase"covenant and agreement"is used in Section 9. If Borrower is oblieated to pay Escrow Items directly,pursuant to a waiver,and Borro�ver fails to pay the amount due for an Escrow Item,Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obliga'ted under Section 9 to repay to Lender any such amount. Lender�nay revoke the�vaiver as to any or all Lscrow 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 under tbis Section 3. Lender may,at any[ime,collect and hold Funds in an amount(a)sufficient to permit Lender to apply the Funds at the time spccified under RESPA,and(b)not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount oP Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow items or otherwise in accordance�vith Applicable Law. 8601142747 8801142747 NEBRASKA-Single Famiiy-Fannie Mae/Fre��ie P,1ac UNIFORM INSTRl7MENT WITH MERS Fcrm 3028 1i01 VMP(�n VMP6A(NE)(1105) VJolters Kluwer F''��nar�.clal Servle=s Page 5 of 17