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<br />2. Applicatlon of Payments or Proceeds. Except as otherwise desaibe� in this Section 2, all payments
<br />accepted and applied by I.ender shall be applied in the following order of priority: (a) interest due under the
<br />Note; (b) principal due under the Note; (c) amounts dua under Section 3. Such payments shall be appli� to
<br />each Periodic Payment in the order in wluch it b� due. Any remaining amounts shall be applied first to
<br />lSte ChBTgeS, sec;Ond to aIIy othei eII�DUnt3 (�ue undet t1�is SeCUrity Tn.aln�m and then to reduce the
<br />principal balance of the Note.
<br />If Lender receives a payment from Bonower for a delinquent Periodic Payment wluch includes a sufficient
<br />a�ount to pay any late charge due, the payment may be applied to the delinquent payment and the late
<br />chazge. If mare than one Periodic Payment is outstanding, Lender may apply any payment received from
<br />Borrower to tha repayment of tha Periodic Payments if, and to the extent that, each payment c�n ba paid in
<br />full. To the extent that any excess exists after the payment is applied to the full payment of one or mara
<br />Periodic Payments, such excess may be applied to any late chazges due. Voluntary prepayments ahall be
<br />applied first to anY PI'�Payment charges and then as described in the Note.
<br />Any application of payments, inaurance prac�s, ar Miscellaneous Pra�ds to principal due under the Note
<br />sha11 not extend or postpone the due date, or change the amoimt, of the Periodic Payments.
<br />3. Funds for FBCrow Iterr�s. Boaower sha11 pay to I,ender on the day Periodic Payments are dua under the
<br />Note, imtil the Note is paid in full, a sum (the "Funds") to provide far payment of ��mts dua far: (a) taxes
<br />and asse�euts and other items wtuch c�n attain priority over this Security Inslrument as a lien ar
<br />encumbranca on the Properiy; (b) l�sehold payments ar ground rents on the Propariy, if any; (c) premiums
<br />for any and all insurance required by Lender under Section 5; and (cn Mortgage Insurance premiums, if any,
<br />or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in
<br />accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at
<br />any time during the term of the Loan, Lender may require that Community Association Dues, Feas, and
<br />Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an F.scrow
<br />Item Barrower shall promptly furnish to Lender all notic�s of amounts to be paid under this Se�tion.
<br />Borrower sha11 pay I.ender the Funds for Escrow Items unless Lender waives Borrower' s obligation to pay
<br />the Funds for any or all Escrow Items. Lender may waive Banower's obligation to pay to Lender Funds for
<br />any or a11 Eacrow Items at any ti�. Any auch waiver may only be in writing. In tha event of such waiver,
<br />Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for wluch
<br />payment of Funds has beea waived by Lender and, if Lender requires, shall fiunish to Lender re�eipts
<br />evidencing such payment witUin such time period as Lender may renuire. Bonower' s obligation to maka
<br />such payments and to provide receipts ahall for a11 purpos� be deemed to be a covenant and agreement
<br />conta,ined in tius Security rnatr�,.,,P.��, as the phrase "covenant and agreement" is used 'm Section 9. If
<br />Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Bonower fails to pay the
<br />amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such aznount and
<br />Bonower shall then be obligat� under Section 9 to repay to Lender any such a�unt. I,ender may ravoke
<br />the waiver as to any or all Escrow Items at any tia� by a notice given in accordance with Section 15 and,
<br />upon such revocation, Bonower shall pay to Lender all Funds, and in such amounts, that are then required
<br />under this Section 3.
<br />Lender may, at any time, collect aad hold Funds in an amount (a) suflicient to permit Lender to apply the
<br />Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can re�uire
<br />under RESPA. Lar►der sha11 e,gtimate the a�ount of Funds due on the basis of cunent data and reasonable
<br />estimates of expenditures of fuh�re Escrow Items or othervvise in accordance with Applicable Law.
<br />ZZpp2gpg27 D VBANE
<br />NEBRASKA36�gle F�nYy-F�Ne Mee/Freddie Maa UNIFORM INSTRUMENT WITH MER3 Form 3038 7/01
<br />VMP (ql VMPBA�NE) (1706)
<br />Wolters Kdiwwer �aruial Servkes Paga 6 of 17
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