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<br />until Borrower makes payment to bring the Loan current. If Bonower does not do so within a reasonable period of
<br />time, Lender shall either apply such funds or retum them to Bonower. If not applied earlier, such funds will be
<br />applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim
<br />which Borrower might have now or in the future against Lender shall relieve Bonower from making payments due
<br />under the Note and this Security Instrument or performing the covenants and agr�ments secured by this Se,curity
<br />Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
<br />accepted and applied by Lender sha11 be applied in the following order of priority: (a) interest due under the Note;
<br />(b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic
<br />Payment in the order in which it became due. Any remaining amounts shall be applied first to late chazges, second
<br />to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment from Bonower for a delinquent Periodic Payment which includes a suff'icient
<br />amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If
<br />more than one Periodic Payment is outstanding, Lender may apply any payment received from Bonower to the
<br />repayment of the Periodic Payments if, and to the extent that, 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 one or more Periodic Payments, such excess may
<br />be applied to any late chazges due. Voluntary prepayments shall be applied first to any prepayment chazges and then
<br />as described in the Note.
<br />Any application of payments, insurance proc�eeds, or Miscellan�us Procceds to principal due under the Note
<br />sha11 not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Bonower shall pay to Lender on the day Periodic Payments are due under the
<br />Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and
<br />assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the
<br />Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiwns for any and all insurance
<br />required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower
<br />to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10.
<br />These items aze called "Escrow Items. " At origination or at any time during the term of the Loan, Lender may require
<br />that Community Association Dues, Fees, and Assessments, if any, be escrowed by Bonower, and such dues, fces and
<br />assessments shall be an Escrow Item. Bonower shall promptly furnish to Lender all notices of amounts to be paid
<br />under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's
<br />obligation to pay the Funds for any or all Escrow Items. Lender may waive Bonower's obligation to pay to Lender
<br />Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver,
<br />Borrower sha11 pay directly, when and where payable, the amounts due for any Escrow Items for which payment of
<br />Funds has been waived by Lender and, if Lender requires, sha11 furnish to Lender receipts evidencing such payment
<br />within such time period as Lender may require. Bonower'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, as the phrase
<br />"covenant and agreement" is used in Section 9. If Bonower is obligated to pay Fscrow Items dir�tly, pursuant to
<br />a waiver, and Bonower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section
<br />9 and pay such amount and Borrower shall then be obligated under S�tion 9 to repay to Lender any such amount.
<br />Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section
<br />15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that aze then required
<br />under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) su�cient to pemut Lender to apply the Funds
<br />at the tune spe,cified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA.
<br />Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures
<br />of future Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or
<br />entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan
<br />Bank. Lender shall apply the Funds to pay the Fscrow Items no later than the time sp�ified under RESPA. Lender
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT p �
<br />Form 3028 1/01 Pege 4 of 74 www.dour►aglc.com
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