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<br />current, without waiver of any sights hereunder or prejudice to its rights to refuse such payment or partial
<br />payments in the future, but Lender is not obligated to apply such payments at the time such payments are
<br />accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest
<br />on unapplied funds. Lender znay hold such unapplied fimds lmtil Borrower makes payment to bring the Loan
<br />curren� If Borrower does not do so within a reasonable period of time, Lender shall either apply such fimds
<br />or return them to Bozrower. If �ot applied earlier, such fuads will be applied to the outstanding principal
<br />balance tmder the Note immediately prior to foreclosure, No offset or cla�, which Borrower might have now
<br />or in the futvre against Lender shall relieve Borrower from maldng payments due under the Note aad this
<br />Security Tnsirument or perfo**n1Ta the covenants and agreemen�ts seeured by this Security Instrument.
<br />2. Application of Payments Qr Proceeds. Except as othervvise described in this Section 2, all
<br />payments accepted and applied by Lender sha11 be applied in the following order of priority: (a) interest due
<br />under the Note; (b) principal due under the Note; (c) amounts due imder Section 3. Such payments shall be
<br />applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be
<br />applied first to late charges, second to amy other amo�ro.ts due under flus Security Iustrument, and then to
<br />refluce the principal balance of the Note.
<br />If Lender receives a payment from Boaower for a delinquent Periodic Payment which includes a
<br />su.fficient amouut to pay any late chazge due, the payment may be applied to the delinquent payment and the
<br />la.te charge. If more than one Periodic Payment is outstanding, Lender may apply amy payment received from
<br />Borrower to the repayment of tb.e Periodie Paymen'ts i� and to the extent that, eaCh payment can be paid in
<br />full. To the extent t1�a# any excess exists after the payment �s applied to the full payment of one or more
<br />Periodic Payments, such excess may be applied to any late charges due. Volnntary prepayments shall be
<br />applied first to aay pi�epayment chazges and then as descnbed in the Note.
<br />. A,ny application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under
<br />the Note shall not eegttend or postpone the due date, or change t�e amou�, of the Periodic Payments.
<br />3. Funds for Escrow Items. Borrower sha.11 pay to Lender on the day Periodic Paymeats are due
<br />under the Note, untii t1�e Note is paid in full, a sum {the "Funds'� to provide for payment of amounts due for.
<br />(a) t9xes aud assessments as�d other items which can attain priority over this Security Instrument as a lien or
<br />encunnbrance on the Prpperty; (b) leasehold payments or ground rents on the Property, if any; (e) premivms
<br />�or azry and all insurance required by Lender under Section 5; and (d) Mortgage Iasurance premiums, iF any,
<br />or any sums payable by Bortower to Lender zn lieu of the.payment of Mortgage Insurance premiums in
<br />accordance with the piovisions of Sectioa 10. These items ate called °Escrow Items." At origination or at auy
<br />time during the term of the Loan,, Lender may require that Comm,uaity Associarion Dues, Fees, and
<br />Assessments, if any, be escrowed by Bormwer, and such dues, fees �d assessments shall be an Eserow Ytem.
<br />Borrower shall promptly fiunish to Leader all notices of amoun.ts to be paid u.nder this Section. Borrower
<br />shall pay Lender the Funds for �scrow Ite,ms unless Leader waives Borrower's obligation to pay the Fun,ds
<br />for any or all Escrow Items. Lender may waive Borrower's obligation to pay to T.ender Funds for any or a11
<br />Escrow Items at any time. A.ny such waiver may only be in writiag. In the event af such waiver, Borrower
<br />shall pay directly, when and where payable, the amouuts due for any Escrow Items for which payment of
<br />Ftmds has been waived by Lender and, if Lender requires, shall �uinish to Lender receipts evidencing such
<br />payment with3n such time peziod as Lender may requite. Borrower's obligation to make such payments az►d
<br />to provide receipts sb.all for all purposes be deemed to be a covenant and agreement contai.ned in this
<br />Security Instrwaent, aS the phrase "covenant and agreemeat" is used in Section 9. If Borrower is obligated to
<br />pay Escrow Ttems directly, pursuant to a waiver, and Borrower faals to pay the amouat due for an Escrovv
<br />Item, Lender may exercise its rights under Seclion 9 an,d pa� sueh amount aad Borrower shall then be
<br />obliga.ted under Section 9 to repay to Lender any such amoun� Lender may revoke the waiver as to any or a11
<br />Escrow Items at any time try a notice given in accordance with Section 15 and, upon such revocation,
<br />Borrawer shall. gay to Lender a11 Funds, and in such amounts, that are then required tmder this Section 3.
<br />Zender may, at any tizne, collect and hold Funds in an amount (a) st�.ffisieat to permit T,ender to
<br />NEHRASK�1--Smgle Fam1y—Fann3e M�e/Freddie Mac iJL�TIFORM 1NSTRIIMENT
<br />+'l� 338.8 Page 4 of 14 Form 3028 LOl
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