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<br /> 201206055
<br /> V4 WSCD LOAN $ 503542405 �I
<br /> 2. Application of Payments or Proceeds.Except as othetwise described in this Section 2, all
<br /> payments accepted and applied by Lendershall be applied in the following order of priority:(a)interest
<br /> due underthe Note;{b)pr•incipal due underthe Note;(c)amounts due under Section 3.Such payments
<br /> shall be applied to each Periodic Payment in the order in which it became due.Any remaining amounts
<br /> shall be applied first to late charges,second to any other amounts due under this Security lnstrument,
<br /> and then to reduce the principal balance of the Note.
<br /> If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a �
<br /> sufficient amount to pay any late charge due,the payment may be applied to the delinquent payment
<br /> and the late charge.If more than one Periodic Payment is outstanding,Lender may apply any payment
<br /> received hom Borrower to the repayment of the Periodic Payments ff, and to the extent that, each
<br /> payment can be paid in full.To the extent that any excess ebsts after the payment is applied to the full
<br /> payment of one or more Periodic Payments,such excess maybe applied to any late charges due.Voluntary
<br /> prepayments shall be applied first to any prepayment charges and then as described in the Note.
<br /> Any applicafion of payments,insurance proceeds,or Miscellaneous Proceeds to principal due under
<br /> the Note shall not extend or postpone the due date,or change the amourtt,of the Periodic Payments.
<br /> 3. Funds for Escrow Items.Borrower shall pay to Lender on the day Periodic Payments are due
<br /> underthe Note,until the Note is paid in full,a sum(the"Funds"�to provide for payment of amounts due
<br /> for:(a)taxes and assessments and other items which can attain priority over this Security Instrument
<br /> as a lien or encumbrance on the Properly; (b)leasehold paymenfs or ground rents on the Property,if
<br /> any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage
<br /> Insurance premiums, 'rf any, or any sums payable by Borrower to Lender in lieu of the payment of
<br /> Mortgage Insurance premiums in accordance with the provisions of Section 10.These items are called
<br /> "Escrow Items."At origination or at any time during the term of the Loan, Lender may require that
<br /> Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such
<br /> dues,fiees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender alf
<br /> notices ofamountsto be paid underthis Section.Borrowershall pay Lenderthe Fundsfor Escrow items
<br /> unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may
<br /> waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time.Any such
<br /> waiver may only be in writing.In the event of such waiver,Borrower shall pay directly,when and where
<br /> payable,the amounts duefor any Escrow Itemsforwhich payment of Funds has been waived by Lender
<br /> and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time
<br /> period as Lender may require.Borrower's obligation to make such payments and to provide receipts ,
<br /> shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument,
<br /> as the phrase"covenant and agreement"is used in Section 9.If Borrower is obligated to pay Escrow
<br /> Items directly,pursuantto awaiver,and Borrowerfaiisto paytheamountdueforan Escrowltem,Lender
<br /> may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated
<br /> under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or aII
<br /> Escrow(tems at any time by a notice given in accordance with Section�5 and,upon such revocation,
<br /> Borrowershall payto Lenderall Funds,and in such amounts,that arethen required underthis Section 3.
<br /> Lender may,atanytime,collectand hold Funds in an amount(a)suffcientto permit Lenderto apply
<br /> the Funds atthe time specified under RESPA,and(b)notto exceed the maximum amount a lender can
<br /> require under RESPA.Lender shall estimate the amount of Funds due on the basis of current data and
<br /> reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with
<br /> Applicable Law.
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency,
<br /> instrumentality,or entity(ncluding Lender,'rf Lender is an institution whose deposits are so insured)or
<br /> in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than
<br /> the time specified under RESPA.Lender shall not charge Borrowerfor holding and applying the Funds,
<br /> annually anafyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower
<br /> interest on the Funds and Applicable Law permits Lenderto make such a charge,Unless an agreement
<br /> is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be
<br /> required to pay Borrower any interest or earnings on the Funds. 6orrower and Lender can agree in
<br /> writing,however,that interestshall be paid on the Funds.Lendershall giveto Borrower,without charge,
<br /> an annual accounting ofthe Funds as required by RESPA.
<br /> Ifthere is a surplus ofFunds held in escrow,as defined underRESPA,Lendershall accountto Borrower
<br /> forthe excessfunds in accordance with RESPA.Ifthere is a shortage of Funds held in escrow,as defined
<br /> under RESPA,Lender shall notrfy Borrower as required by RESPA,and Borrower shall pay to Lenderthe
<br /> amount necessary to make up the shortage in accordance with RESPA,but in no more than 12 monthly
<br /> payments. If there is a deficiency of Funds held in escrow,as defined under RESPA,Lender shall notiiy
<br /> Borrower as required by RESPA,and Borrower shall pay to Lender the amount necessary to make up the
<br /> deficiency in accordance with RESPA,but in no more than 12 monthly payments.
<br /> Upon payment in full of all sums secured bythis Security Instrument,Lender shall promptfy refund
<br /> to Borrower any Funds held by Lender:
<br /> 4. Charges;Liens.Borrower shall pay all taxes, assessments,charges,fines, and impositions
<br /> attributable to the Property which can attain priority overthis Security Instrument,Ieasehold pay ents
<br /> Iaitials: �a��
<br /> NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 30287/07 �
<br /> Online Documents,Inc. Page 4 Of 11 NEEDEED 1i08
<br /> • 07-18-2012 16:28
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