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2012U272� 2. Appllcation aF Payments or Proceeds. Except as otherwise describad in this Se�tian 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under tha Note; (b) principal due under the Note; (c) amounts due under Section 3. S�ch payments shall he applied to each Periodic Payment in the order in wluch it became due. Any remaining amounts sha11 be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applie� to the delinquent payment and the lata charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall he applied first to any prepayment chazges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellan�us Praceeds to principal due under the Note sha11 not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for E�q'ow Iterr�s. Borrower sha11 pay to Lender on the day Periodic Pay�ments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessment� and other itenos which c�n attain priority over this Sacurity Instrument as a lien or encumbrance on the Properiy; (b) leasehold payments or ground rents on the Properiy, if any; (c) premiums for any and a11 insuranca renuired by Lender under Section 5; and (� Mortgage Insurance pramiunas, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Ins�u�ance premiums in acxordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may re�uire that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an F.scrow Item. Borrower shall promptly fiunish to Lender a11 notaces of amounts to be paid under this Se�tion. Bonower sha11 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 a11 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 wluch payment of Funds has been waived by Lender and, if Lender reguires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Boirower' a obligation to make such payments and to provide r�eipts sha11 for a11 purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is use� in Section 9. If Borrower is obligated to 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 Se�tion 9 and 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 a11 Escrow Items at any time by a nodce given in accordance with Section I S and, upon such revacation, Borrower shall pay to Lender a11 Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, colleit and hold Funds in an amount (a) sufficient to permit I.ender to apply the Funds at the time specified under RESPA, and (b) not to �cxed the maximtmn amount a lender c�► require under RESPA. Lender sha11 estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or othervvise in accordance with Applicable Law. 2200244242 D VBANE NEBRASKASingle F�nily-FenNe Mae/Freddia Mac UNIFORM INSTRUMENT WffH MERS Form 30l8 1/01 VMP (q1 VMPBAINE) 11106) Woltere Kluwar Flnendel Sarvlaes Pege 6 of 77