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201203673
<br />until Borrower makes payment to bring the I,oan current. Tf Borrower does not do so within a reasonable perial of
<br />time, Lender shall either apply such funds or retuin them to Borrower. Jf not applied earlier, stich fimds wi11 be
<br />applied to the outstandi.ng principal balanc� under the Note immediately grior to foreclosiue. No off.set or alaim
<br />which Bonrower might haee now or in the futiu�e against Leader sIaall zelieve Borrower from making payments dve
<br />undez tlae Note and this Security Instrum,ent or performing the cavenants and agre�m�ats serured by this Security
<br />Instrument.
<br />2. Applicatiom of Paym�ts or P'ra�eds. Egcept as otixexwise described in this Section 2, aII payme�nts
<br />accepted and applied by L�nder shall be applietl 'va the following order of priority: (a) interest due under the Note;
<br />(b) principai due under the Note; (c) amounts due u�nder S�rion 3. Such payment,s shall be applied to eac�, Periodic
<br />Payment in the order in wluch it became due. Any remaining amow�ts shall be applied first to late charges, s�on@
<br />to any other amoimts due under this S�Ytrity Instrument, and then to reduc� ihe pxincipal balance of the Note.
<br />If Lender receives a payme� from Borrower for a delin,quent Periodic Pa.yment which ivacludes a sUfficie�t
<br />amount ta pay any late charge due, the paymeat may be appli� to the delinquenx payment and the laxe charge. If
<br />more than one Periodic Paya�nt is outstanding, Lender may apply any gaymenit zeceived from �rrower to the
<br />repayment of the Periodic Payments if, and to the extent tUat, each payment can be paid in full. To the extent that
<br />any excess exists after the payment is applied to the full payment of oma or more Periodic Payme�s, such excess may
<br />be applied w any late chazges due. Voluntary p�ceFayments shall be applied first to any prePaYment charges and then
<br />as describ� in the Note.
<br />Any application of payments, insurance proc�eeds, or Miscsll�aeous Proceeds to principal du� under the Note
<br />shall not extend or postpone tb�e due date, or change the amount, of the Periodic Payments.
<br />3. k�mds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the
<br />ATote, until the Note is paid in full, a sum (the "Funds") to provide for payment of amotmRS due for. (a) taxes and
<br />assessments and other items which can attain priority over this Secarity Insirumern as a lien or encambrance on the
<br />Property; {b) Ieasehold payments or ground rents on tbe Property, if any� (C) Premiuu�s for any a�d all inc�irance
<br />reqaized by I.ender under S�tion 5; and (d) Mortgage Insurance grem7i�ums, if any, ar any sums payable by Borrower
<br />to Lender in lieu of the payment of Mortgage Insuraace pzemimns in accflrdance with the provisions of Section 10.
<br />These items are calIed "Escro�sv Items. " At origina.taon or at any tims during the term of the Loan, I.ender may require
<br />that Community Associadon Dues, Fees, and Assessments, if any, be escrowed by Boxrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Bonrower shall prompfly furnish to Leader a11. notic�s of auaownts to be paid
<br />t�.uder this Se�on. Borrower shall pa.p Lender the l�uads for Escrow Items unless Lender waives Borrower's
<br />obligation to gay the Funds for any or aII Fscrow Items. Lender ma.y waive Borrower's obligation to pay to L,ender
<br />Fvnds for any or all Escrow Items at any time. Aay such waiver may only be in wniting. In the eveat of such waiver,
<br />Borrower shall pay dire.ctlq, when and where payable, the amow�ts due for any Escrow Items for whicli paymern of
<br />Funds has been waived by Lender and, if Lender requires, shall fumish to Lender receipts evidencing such payment
<br />within such timeperiod as I.ender may require. Bonower's obligation to make such payments aud to pmvide receipts
<br />sball for all purposes be deemed to be a covenant and agreement co�ined in t�is Secauity Instrwment, as the phrase
<br />"covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to
<br />a waiver, and Borrower fails to pay the amow�t due for an Escrow Item, Lendez may exercise its rights under Sec�ion
<br />9 and paq such amount and. Borrower shall then be obligated under Section 9 to repay m Lender any snch amowat.
<br />Lender may revoke the waiver as to airy or all Escrow Items at any time by a notice giveioi in accordance with Section
<br />15 and, upon such revocation, Honower shall pay to Lender all Funds, and in such amou�. that are then required
<br />imder this Section 3.
<br />Lender znay, at any time, collect and hold Funds in an amouat (a) sufficie�t to penmit Lenc�er to apply the F�ds
<br />at the time specified umder RESPA, and @) not to exc�ed the maximum amount a lender can require under RE.SPA.
<br />T.ender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditutes
<br />of future Escrow Items or otherwise in accordance with Applicable Law.
<br />The F�mds shall be held in axz institution whose deposits aze ins�ed by a federal agency, instn�mentality, or
<br />entity (including Lender, if Lender is an institudon whose deposits are so insured) or in any Federal Home Loan
<br />Ban� Lender shall apply the Fvuds to pay the Escrow Items no later tban the time specified under RESPA. Lender
<br />NEBRASKA—Stngle Family—FanNe Mae/Freddie M IFORM INSTRIJMENT
<br />Form 3028 1/OT Page 4 of t4
<br />Da��ple �
<br />www.docmagk.wm
<br />Nc3028.dm.�]
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