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201206674 2• APP�ic�ion of p�yments ar Proceedg. Excxpt as otherwise described in this Section 2, ell payments �P�d�ePPli�by Lender shall be applied in the following order of priority: (a)interest due under the Note; (b)Principal due under the Note; (c)amo�mts due�mdex Section 3. S�ch payments shall be applied to each Periodic Payment in the order in wlilch it beceme due. Any remttining amounts sha11 be applied first w late charges, second to any other amounts due under tkus Security Inshvment, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrawer for a delinquent Periodic Payment wlrich includes a eufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender maY aPP1Y�Y PaYmeat received fram Horrower to the repayment of the Periodic Payments if, m�d to the extent that, each payment can be paid in fulL To the extent that any e�cceas emsts after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late chazges due. Voluntary prepayments atiall be applied first to ani'PT�Y��t chazges and then as descnbed in the Note. Any application of payments, insurance procceds, or Miscellaneous Proc.cecLc to prin�ipal due under tkte Note shall not extend or postpone the due date, or change the amoimt, of the Periodic Payments. 3. Funds for�Crow Item& Borrower shall pay to i,ender on the day Periodic Payments are due under the Note, unUl 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 aver thig Security Iny�ume�t as a lie,n or encumbrance on the Properry; (b)leasehold paymenta or ground rarts on the Property, if any; (o)Premiuros for any and all insisance required by Lender under Secrion 5; and(d)Mortgage Insurance premiums, if�y> or any sume payable by Borrower to I.ender in lieu of the paymeat of Mortgage Inaurance premiums in accordance with the provisions of Section 10. These items are c;ailed'Bscrow Items." At origination ur at any time during the term of the L.oan, Lender may require that Comm�mity Association Dues, Feea, and .'lsseasments, if any, be escrowed by Boaower, and such dues, fices and asse,vsments shall be an Escrow Item. Horrow�shall promptlY£nrnish tp Lender ail noticea of amrnmta to be psid under this Sedion. Borrower shall pay Lender the Fimds far Escrow Items unlesa L,ender wai�e.y gortoK,��3 obligation to pay the Fimds for any or all Escraw Items. I,ender may�ysive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any tirrie. Any such waiver may only be in writing. In the event of such waiver, Borrower sUall pay directly, when and where payable, the amo�mts due for any Eacrow Items for which Pa7'�at of Funds hss bee.m waived by Lender and, if Larder requues, shall fiunish to Lenda receipts evidencing such payment within such time period as Lender may require. Horrower's obligarion to make such payments and ta provide receipts shall far all purposes be dcemed to be a covenant and agreement contained in Uils Secw�ity Instrument, as the pluase"covenant and agreement" is uaed in Section 9. If Borrower is obligated m pay Escrow Items directlY, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may eicercise its righta under Section 9 and pay auch mnount and Borrower shall then be obligated under Section 9 m repay to I.endcr any such amount. Lender may revoke the waiver as to any ar a11 Escrow Items at any time hy a norice given in accordance with Section 15 and, upon such revocation, Borrower ehall pay to Lender all Funds, and in such amounts, thaY are tben required imder this Saction 3. Lenide� may> at any time, collect and hold Funds in an amount(a)sufficient to permit Lender to apply the Funds az the time specified under RESPA, and(b)not to excced the maximum amount a lender wn require under RFSPA. I.ender shall estimate the amotmt of Funds due on the basis af current daYa and reasonable estimates of eapendit�ses of future Escrow Items or otherwise in accordance with Applicable I.aw. NEBPA9KA�3'npls FamIN-Fm�b M�/FretlCip Mx UNIFOFM INSTIp1MENf WfrN�MEIiS 32 D VgANE VM7(i� Fpm 3p38 7/01 WokMi KWws Finanqd Swvieeb VMPBA(NE)It f061 Psps 5 of 17