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201204159 2. Appl�ati� of P�yments or Proceeds. Except as othervcnse described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) mterest due under the Note; (b) princ�pal due under the Note; (c) amounts due nnder Section 3. Such payments snall be applied W each Periodic Payment in the order �n which it became due. Any remaining amounts shall be aQplied first to iate charge.s, s�onct to any other amounts due under this Se�currty Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Penodic Payment wkucl� includes a sufficient amount to gay any late charge due, the paymant rnay be applieti W the delinquent payment and the late charge. If �re than one Periodic Payment is outstanding, Lender rr�y apply aay payment received from Bonower to the r�ayment of the Periodic Payments if, and to the extent that, each payment c�n be paid in fu1L To the axtent that any excess e�usts after the �yment is applied to the full payment of one or more Penodic Payments, such excess may be applied to any late charges due. Voiuntary prepayments shall be applied firat to any prepayment charges anci then as descn'bal in the Note. Any application of payments, insurance proceeds, or Miscellaneous Procee�is to prmcipal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for E�'ow Itetns. Borrower �all pay to Leader on the day Periodic Paym�ts are due uncier tde Aiote, until tiie Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) ta�ces and as�ments and other items which can attain priority over this Security Instrument as a lien or encumbranca on the Property; (b) leasehold paymer�ts or ground rents on ti�e Propeaty, if any; (c) pr�niums for any and all insurance required by Lender under Ser,tion 5; and {d) Mortgage Insurance premi�uns, if any, or any sums payable by Bonower to I.endex m lieu of the payment of Mortgage Insurance premiums in accordance with the prov�sions of �Ction 10. These items are called "Escxow Items." At ongmation or at any time during the term of the Loan, L.ender may require that Communiry Association Dues, Fees, and Ass�sments, if any, be escrowed by Boirower, and sucn du�, fees and ass�sments shall be an F.scrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this S�tion. Barrower shaU pay Lencler the Funds for Escrow Items unless Lendex waivea Borrower's obligat�on to pay the Funds for any or all Escrow Items. Lencier may waive Borrower's abligation to pay to I.ender Funds far any or all Escrow Items at any time. Any such waiver may oNy be in writing. In the event of such waiver, Borrower shall pay dire�Uy, when and where payabie, the amounts ciue for any Escrow I#ems for which payment of Funds has be� warved by Lender and, if Lender requires, shaU fwvish to Lend� receipts evidencing such payment within such time period as Lender may reyuire. Borrower's obligation to matce such payraents and to provide receipts shall for all ptuposes be deemed to be a covenant and agr�meat �nta�ned in this Security Ins�ument, as the p1� "covenant and agreement" is use�cl in Se.ction 9. If Borrower �s obligated to pay Escrow Items dire�tly, pursuant to a waiver, and Borrower fails to pay me amouat due for an F.scrow Item, Lender may exercise its nghts under Section 9 and pay such aatount and Borrower shall then be obligated und� Sechon 9 to repay to Lender any suci� amounk Lender may revoke the waiver as to any or all Eserow Items at any time by a notice given �n accordance with SecUon 15 and, upc�n such revocation, Barrower.shall pay to Lender all Ftu�cls, and in such amouats, that are then required und� this Se�hon 3. Lender may, at any tinie, collect and hold Fvnds in an amount (a) sufficient to pe�vrit Lender to apply the Funds at the time specified uncler RESPA, and (6) not to exc�eci the maximum amount a lender c�n reyuire uncier RESPA I,ender stialt estisnata the amount of Funds due on we basls of current data and reesoaable � of eupenditures of firture Escrow Ytems or otherwise ui acxordance with Applicable Law. 2200289040 D V6ANE I�tEBRASiCA-Single Famfly-Fanme Mae/Freddla Mao UNIFORM IPISTRUMENT WITH MERS F� �� VMP W VMPBAINE) i11061 Wolters Kluwer PfnanGd Servn,es Pege b of 17 �