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201205416 No offset or clahnwhich Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2. all 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 shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Sccurily Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delnnquem Periodic Payment winch includes a sufficien amount to pay any late charge due, the payment may be applied to dile delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender nuiy apply wry payment received from Borrower to file repayment or the Periodic Payments Eand to the extent that, each payment can he paid in fill. To the c%iont that any excess exists after the payment is applied to the Cull payment of one or more Periodic Payments. such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments_ insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under ]lie 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 hisnument as a lien or encumbrance on the Property: (b) leasehold payments or ground rents on die Properly_ if any: (c) premiums for any and all insurmce required by Lender under Section 5: and (d) Mortgage Insurance premimns, if any, or uny sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. 7lhese items are called "Escrow Items." At origination or at ally tiuhe daring the temn OC the Loan. Lender may require that Commmnity Association lilies, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to bo paid under this Section. Borrower shall pay Lender the Funds for Escrow [terns unless Lender waives Borrower's obligation to pay the Funds I'or any or all Escrow Items. Lender rnav waive Borrowers obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pry 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, shalt furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Stens directly, pursuant to a waiver, and Borrower fails to pay line :uuounl due Cor an Escrow Item. Lender may exercise its rights under Section 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 all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shalt pay to Lender all Funds and in such amounts, than are then required under this Section 9. 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 tc exceed the nnaxinuun amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures or future Escrow Items or otherwise in accordance with Applicable Law. NEBRASMSngk Famil,Fannie 10aeirred6o Mac MAMA IN1FUMOn Foam 90101101 VMP S VMPO(Nci (1105),00 Weller. W., RuWal Serdees Page 4o11s (VIII Ull I'll] VIII IIIIIII III III) IIID VIII I I (VIII Illli 1111 IYYI OOOONE9772766