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� 201206729 <br /> 2. Applicatlon of Payments or Proceetls. F.xcept as otherwise described in this Section 2, all payments <br /> accepted and applied by Lender shal] 6e applied in tlie following order of priority: (a)inferest due under the <br /> Note; (b)peincipal due uuder Che Note; (c)anionnts due uudcr Section 3. Such payments shall be applied to <br /> each Periodic Payment in the order in which it became due. Any remaining amounfs sllall be applied first to <br /> late charges, second to any othcr amounts due under Chis Securiry InsCrument, and then to reduce the <br /> principal balance of the Note. <br /> lf Lender reccives a paymenC from Borrower for a delinquent Periodic Pnyment which includes a su�cient <br /> � amount to pay any late charge due, the payment may be applied to the delinquent paymenY and the late <br /> charge. If more than one Periodic Payment is outsfa�iding, Lender may apply any payment receivcd tl-om <br /> Burrower to the repaymenE of the Peeiudic Payments if, and to the extent that, each payinei�t can be paid in <br /> full. To the cxtent tliat any excess exisfs after tl�e payment is applied tio the full payment of one or roore <br /> Periodic Paqments, such excess may.be applied to any late charges due. Volantary prepayments shall be <br /> applied first to any prepayment cliarges and then as described in fhe Note. <br /> Any epplicatimi of payments, insurance proceeds, ar Miscellaneous Proceeds to principal due under the Note <br /> shall not e�ctend or postpone the due date, or change the amount, of the Periodic Payments. <br /> 3. FUndS for Escrow Items. Aorrower sliall pay to Lender ui�the day Periodic Payments are due under the <br /> Note, unYil Yhe Note is paid i�thll, a sum (the"Funds")Yo provide For payment of amounts duc i'or. (a)taxes <br /> and assessmentc and other iYems which ca��attain priority over this Sccurity Instrument as a lien or <br /> encumbrance ou Lhe Properry; (b)leasehold payments or ground rents on the Property, if any; (c)premiums <br /> for any and all insurance requieed 6y Lender under Section 5; and(d)Mortgage insm�ance premiums, if any, <br /> or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums i� <br /> accorclance with the provisions of Section 1D. These items are called "Escrow Items." At m�iginaEion or at <br /> any time during the [erm of the Loan, Leuder may require thaY C;ommunity Association Dues, Fees, and <br /> AesessmenYs, if�ny, be escrowed Uy Borrower, and such dues, fees and assessments shall bc a��Escrow <br /> Item. Borrower shall promptly fi�rnish to Lender all notices of amounts to be paid under[his SecCion. <br /> Borrower shall pay Lender the Funds for Escrow Items unless Lea�der waives 13orrower's obligation to pay <br /> the Funds for any or all Escrow Items. T ender may waive Rorrower's obligation to pay to I.ender I'unds for <br /> any or aIl F,scrow Items at any Lime. Any such waiver may only 6e in writing. Li the event of such waiver, <br /> Borrower shall pay directly, when and where payabLe, the amouuts due for any L-scrow Items for which <br /> payment of'Funds lias been waived by Lender and, if Lender requires, shall furnish to Lender receipts <br /> evidencing such payment witliin sueh time period as Lender may require. IIorrower's obligation to make <br /> such payments and Co provide receipts shall for all purposes be deemed to 6c a covei�anl and agreement <br /> coi�tained in this Security Instrument, as Lhe phrasc"coveiiant ai�d agreement" is ttsed in SecCion 9. if <br /> Borrower is obligated to pay Esc�nw Items directly, pursuant to a waiver, and Borrower fails to pay the <br /> amount due for an Lscrow I[em, Lendcr may exercise its rights under Section 9 and pay such amount and <br /> Borrower shall then be obligaCed under Section 9 to repay to Lender any such amount. I.ender may revoke <br /> the waiver as W any or all Escrow items at a��y time by a notice given in accordance with Section 15 and, <br /> upon such revocation, Borrower shall pay to Lender all Funds, and in such ama�ncs, that are then required <br /> tmder this Section 3. <br /> Lender may, at any time, collect and hold Funds in an amount(a)sufficient to permit Lender to apply fhe <br /> Funds at the r.ime specified nnder RESPA, and(b)nof to exceed the maximum�unoui�t a lender can require <br /> nnder RESPA. Lender shalL estimate[he amount of Funds due on the basis of cttrrent data and reasonablc <br /> estimates of expenditures of future Escrow Items or otherwise in accordanee witli Applicable Law. <br /> BB01252268 8801252268 <br /> NEBNASKA-Single FamilV-�annie Mae/Fredtlie Mac 11NIFORM INSTRUMENT WITN MEftS Porm 3428 1lO1 <br /> VMP Q VMP6A(NE)�1�1051 <br /> Wolters Kluwer Flnencial5ervlces Page 6 f 17 <br />