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201206855 2. Application of Payments or Proceeds. Lxcept as otherwise described in this Section 2, a11 payments accepted a�d applied by Lender sl�all be applied in the following order of priority: (a) interes[due imder the Note; (b) principal due imder the Note; (c)amowits due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied fi�st to lafe eharges, second to any other amounts due imder this Security InstrumenY, and then to reduce the prineipal balance of the Note. If Lender receives a payment fi�mn Borrower Por a delinquent Periodic Payment which includes a sufficient amou�[ to pay nny late charge due, the payment may Ue applied to the delinquent payment and the late cha�ge. If more than one Periodic Payment is outstanding, Lender may apply any payment rweived from Borrower to the repaymenY of the Periodic Payments it; and Co the extent Hiat, each payment can be�aid in full. 'Po ihe extent that any excess exists after the payment is applied to the full payment of one or mm�e Periodie Payments, such excess may be apptied to any IaYe charges due. Voluntary prepayments shall be ap}�lied first to any prepayment charges aod then as described in the Note. Any application of payments, insurance proceeds, or Miscella�eous Proec�cls to }�rincipal due under the Note shall not cxtend or postpone the due datc, or change the amount, of the Periodic Payments. 3. Funds for Eserow Items. Borrower shall pay to Lender on the day Yeriodic Payments arc due under the Note, until thc Note is paid iu fuLl, a sum (the"Funds")to provide for payment of amounts due for: (a)taxes and ass�essments and other items w6ieh can attain priority over this Securiry lnstrume�t as a lie�or encumbrance on the Prope��ry; (b) Leasehold payments or ground rents on the Proper[y, if any; (c) premiums fm� any and all insurance required by Lender under Sectiou 5; and (d)Mor[gage lnsuranee}�remiums, if any, or any sums payaUle by Borrower to Lender in lieu of the payment of Morfgage Ineurance premiums in accordaoce with the provisions of Section t0. These items are ealled "Escrow Items." At origination or at any timc during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall prompQy furnish to Lender all nodces of amoimts to 6e paid undcr this Section. Borrower shall pay Leuder Che Funds for Escrow Items uiiless Lender waives Borrower's oUligation to pay the Funds for any or all Escrow ltems_ Lender may waive 13orrower's o6ligation to pay to Lender Fwids for any or all Escrow items at any time. Aoy such waiver may only be in writing. In the event of such waiver, Borrowcr shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived 6y Lender and, if Lender requires, shall furnish to L,cnder receipts evidencing sucl�payment withio such time period as Lender may require. Borrower's obligation to make such payment,s and Yo provide receipts shall for all pm�poses be deemed to be a covenant and agreement contained in U�is Security InstrumenY, as fhe phrase"eovenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow iYems directly, pu�suant to a waiver, and Borrower fails to pay the amount due for an Escruw Itcm, Lender m�y exercise its rights u�der Section 9 and pay such amount and Borrower sl�all then be obligated under Sectioc�9 to repay to Lender any such amounC. Lender may revoke the waiver as to any or all Escrow Items at any Cime by a notice given in accordance with Seetion 15 and, upon such revoeation, Borrower shall pay W Lender nll Funds, and in such amounts, that are tlien required under this Section 3. Lender may, at any Lime, collect and hold Funds in an amount(a) sufticient to permiY Lender to apply [he Funds at the time spccified under RESYA, and (b) not to exceed the maximum amouni a lender can requirc under RESPA. Lender shall estimate the amoun[ of Funds due on the basis of current data and reasonable esCimafes of expenditures of future Escrow Items or otherwise iu accordance wi[h ApplicnbLe Law. aaaiz�sa�n aeoiz�sa�e NEBRASKA-Single Fam Ily-Pnnnie M aelFretltlie M ac UNIPO Wvi INSTRUM14 ENT W ITH M ERS Porm 3�28 1l01 �'v'P n VM P6A(Nk�(11 p51 W olters Kluv+er Financial Services Page G of 17