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2��.�os3oQ 2. Appltcatlon of Payments or Pra�eds. Except as otherwise described 'm this Section 2, all payments accepted and applied by Lender sha11 be applied in the following order of priority: (a) interest dua under tha Note; (b) principal due under the Note; (c) amounts due under Se�tion 3. Such payments shall be applied to each Periodic Payment in the order in wluch it became due Ariy iPmii�ning empulltg gha11 be eppliCd f1r8t t0 late charges, second to any other �un�c due under tlus Security Instrument, aad then to re�uce the principal balance of the Note. If Lendar receives a payment from Bonower for a delinquent Periodic Payment which includes a suf6cient amount to pay any late charge due, the payment may be applied to the delinquent payment and tha late charge. If more than one Periodic Payment is outstanding, Lender may apply sny payment re�eivad from Bonower to the repayment of the Periodic Payments i� and to tha extent that, each payment can be paid in full. To the extent that any excesa exists after the payment is applied to the full payment of one or more Periodic Payments, such excess �y be applied to sny late charges due. Voluntary prepayments shall be applied first to anY Pi'�PaYment c�rges and then as descn'bed in the Note. Any applic�tion of payments, insurance proceeds, or Miscellaneous Pra�eds to principal due under the Note sl�all not extend or postpone the due date, or change the a�o�mt, of the Periadic Payments. 3. Funds for Escrow Items. Borrower sha11 pay to Lender on the day Periadic Payments are dua under the Note, until the Note is paid in full, a sum (the "Funds") to provide far payment of aa�ounts 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 Properiy, if any; (c) premiuma for any and a11 insurance required by Lender under Section 5; and (� Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of tbe payment of Mortgage Insiu�ance premiums in acxordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of tha Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and ass�ts shall be an F.scrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Saction. Borrower sha11 pay Larder the Funds for F.scrow Items unless Lender waives Horrower' s obligation to pay the Fuads for any or all Escrow Items. L,ender may waive Borrower' s obligation to pay to Lender Funds for any or all Escrow Items at any ti�. Any such waiver may only be in writing. In the event of such waiver, Bonower sha11 pay directly, when and where payable, the amounts due for any Esarow Items for wluch payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lend� re�eipts evidencing such payment within such tia� period as Lender may require. Borrower' s obligation to make such payments and to provide r�eipts shall far all purposes ha deemed to be a covenant and agreement conta.ined in this Security Inshvment, as the phrasa "covenant and agreement" is used in Secrion 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Bonower fails to pay the aa�unt due for an F.scrow Item, Lender may exercise its rights under Se�tion 9 and pay such a�unt and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. I.ender may revoke the waiver as to any or a11 Escrow Items at any time by a notice given in a.ccordance with Section 15 and, upon such revocation, Borrower sha11 pay to Lender all Funds, and in such a�ounta, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficiant to parmit I,ender to apply the Funds at the time specified under RESPA, and (b) not to exc� the maximum amount a lender c�n require under RESPA. I,ender shall estimate the a�unt of Funds due on the basis of current data and reasonable estimates of expenditures of futiue Escrow Items or otherwise in ac.cordance with Applicable Law. 2200278644 NEBRASKAS6�gte Family-F�Ne Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS VMP (ql won�e xu,ws F6�er�lal servfcea D VBANE Fam 3038 7 /01 VMPBPINEI6 of 17 �