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2 0�205253 2. Applicetion of Peymenta or Proceeds. Except as othervvise described in this Section 2, a11 payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments sha11 be applied to �ch Periodic Payment in the order in which it became due. Any rema.ining amounts sha11 be applied first to late charges, sec:ond 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 applied to the delinquent payment and the laxe charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Bonower to the repayment of the Periodic Payments i� and to the extent that, each paynnent caa be paid in full. To the extent that any excess eacists 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. Voiuntazy prepayments sha11 be applied first to any prepayment chazges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds 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 Escrow Jtems, Borrower shall pay to Lender on the da.y Periodic Payments 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 assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and a11 insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, iF any, or any sums payable by Bonower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items aze called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments sha11 be an Escrow Item. Borrower sha11 promptly furnish to Lender a11 notices of amounts to be paid under this Secrion. Borrower sha11 pay Lender the Funds for Escrow Items unless Lender waives Bonower' s obligarion to pay the Funds for any or a11 Escrow Items. Lender ma.y waive Bonower'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 sha11 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, sha11 furnish to Lender receipts evidencing such payment within such time period as Lender ma.y require. Bonower' s oblig�tion to make such payments and to provide receipts sha11 for a11 purposes be deemed to be a covenant and agreement contained in this 5ecurity Instrument, as the phrase "covenant and agreement" is used 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 Ttem, Lender ma,y exercise its rights under Section 9 and pay such amount and Borrower sha11 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 notice given in accordance with Seetion 15 and, upon such revocation, Borrower sha11 pay to Lender a11 Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender sha11 estimate the amount of Funds due on the basis of current data and reasonable estimates of e7cpenditures of future Escrow Items or otherwise in accordance with Applicable Law. 2200277846 NEBRASKA-Single Femily-Fennie Mae/Freddle Mac UNIFORM INSTRUMENT WITH MERS VMP Q Wa(ters Kluwer Finandal Servic�s • D VBANE Form 30�8 1N1 VMPBAINEI (7 706) Pepe 6 ot 17