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�01206943
<br />under the Note and this Security Instrument shall be made in U.5. cunency. However, if any check or other
<br />instrument received by Lender as payment under the Note or this Security Instrument is retumed to Lender unpaid,
<br />Lender may require that any or all subsequent payments due under the Note and this Se,curity Instnunent be made in
<br />one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified che,ck, bank che,ck,
<br />treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits aze insured
<br />by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
<br />Payments are deemed received by Lender when received at the location designated in the Note or at such other
<br />location as may be designated by Lender in accordance with the notice provisions in 5ection 15. Lender may return
<br />any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender
<br />may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights
<br />hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not
<br />obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of
<br />its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds
<br />until Bonower makes payment to bring the Loan current. If Bonower does not do so within a reasonable period of
<br />time, Lender sha11 either apply such funds or return them to Bonower. If not applied earlier, such funds will be
<br />applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim
<br />which Bonower might have now or in the future against Lender shall relieve Bonower from making payments due
<br />under the Note and this Security Instrument or performing the covenants and agreements secured by this S�urity
<br />Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
<br />accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note;
<br />(b) principal due under the Note; (c) amounts due under 5ection 3. Such payments sha11 be applied to each Periodic
<br />Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second
<br />to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient
<br />amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If
<br />more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the
<br />repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that
<br />any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may
<br />be applied to any late charges due. Voluntary prepayments sha11 be applied first to any prepayment chazges and then
<br />as described in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note
<br />shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Bonower sha11 pay to Lender on the day Periodic Payments aze due under the
<br />Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and
<br />assessments and other items which can attain priority over this S�urity Instrument as a lien or encumbrance on the
<br />Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance
<br />required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Bonower
<br />to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of S�tion 10.
<br />These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require
<br />that Community Association Dues, Fe,es, and Assessments, if any, be escrowed by Bonower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid
<br />under this Section. Borrower sha11 pay Lender the Funds for Escrow Items unless Lender waives Bonower's
<br />obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender
<br />Funds for any or a11 Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver,
<br />Borrower sha11 pay directly, when and where payable, the amounts due for any Escrow Items for which payment of
<br />Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment
<br />within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts
<br />sha11 for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS poc1V/eg/c r�
<br />Form 3028 1/01 Page 4 of 15 www.docmaglc.com
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