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20120�5�1
<br />LOAN #a 0038347852
<br />2. Applicetlon of Payments ar Proceeds. F�ccept ae atherwise described in this Section 2, all
<br />paymenb accepted and applied by Lender shail be applied in the following arder of priority: (a) interest
<br />due underthe Note; (b) principal due underthe Note; (c) amounts due under Sectlon 3. Such payments
<br />shall be applied to eech Periodic Payment in the order in which it became due. Any remaining amounts
<br />shall be applled flrst to late charges, second to any other amounts due under this Security Instrument,
<br />and then to reduce the principal balance of the Note.
<br />If Lender receives a payment from �rrower for a delinquent Periodic Payment which includes a
<br />sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment
<br />and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment
<br />received from Barrower to the repayment of the Periodic Payments if, and to the extent that, each
<br />payment can be paid in fup. 7o the extent that any excess exists after the paymerrt is applied bo the fun
<br />paymentofone ormore Periodic Paymerfis, such excess may be applied to any latecharges due. Volur�tary
<br />prepayments shall be applied first to any prepayment charges and then as described in the Note.
<br />Any application of payments, insurance proceeds, or Miscel(aneaus Proceeds to principal due under
<br />the Note shall not extend or pastpone the due date, or change the amount, of the Periodic Payments.
<br />3. Punds for Escrow Items. Borrower shall pay to Lender on the day Periodic Paymenfs are due
<br />under the Nate, unfil the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due
<br />for: (a) taxes and assessments and other items which can atkain priority over this Security Instrument
<br />as a lien or encumbrance on the Property; (b) leasehald payments or ground rents on the Properiy, if
<br />any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage
<br />Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of
<br />Mortgage Insurance premiums in accordancewith the provisions ofi Section 10. These items are called
<br />"Escrow Items." At origination ar at any time during the term of the Loan, Lender may require that
<br />Community Association Ques, Fees, and Assessments, ff any, be escrowed by Borrower, and such
<br />dues, fees and assessments shall be an Escrow Item. Borrovver shall promp�y fumish to Lender all
<br />notices of amounts to be paid under this Section. Borrower shall pay Lenderthe Funds for Escrow Items
<br />unless L.ender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may
<br />waive Borrower's obiigation to pay to Lender Funds for any or all Escrow Items at any tlme. Any such
<br />waiver may only be in avriting. In the event of such waiver, Borrower shall pay directly, when and where
<br />payable, theamounts dueforany Escrow Itemsforwhich payment of Funds has been waived by Lender
<br />and, if Lender requires, shall iumish to Lender receipts evidencing such payment within such Ume
<br />perlod as Lender may require. Borrower's obliga�tlon to make such payme,nts and to provide receipts
<br />shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument,
<br />as the phrase °covenant and agreemerrt° is used in Section e. If Borrower is obligated to pay Escrow
<br />Items direcUy, pursuanttoawaiver, and Borrowerfallsto paythe amountdueforan Escrouvltem, Lender
<br />may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated
<br />under Section 9 to repay to Lender any such amount Lender may revoke the waiver as to any or all
<br />Escrow Items at any time by a notice �iven in accordance with Section 15 and, upon such revacation,
<br />BoROwer shall payto Lender a0 Funds, and in such amounts, that are then required under this Section 3.
<br />Lender may, at anytime, collectand hold Funds in an amount (a) sufPicientto permit Lenderto apply
<br />the Funds at the time specified under REBPA, and (b) not to exceed the maximum amourrt a lender can
<br />require under RESPA. Lender shall estimate the amount ot Funds due on the basis of cu�rent data and
<br />reasonable estimates of expenditures af iuture Escrow Items or othetwise in accordance with
<br />Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency,
<br />instrumentality, or entity (ncluding Lender, if Lender is an ins�tution whose deposits are sa insurecn ar
<br />in any Federal Home Lvan Bank. Lender shall apply the Funds to pay the Escrow Items no later than
<br />the time specifled under RESPA. Lender shall not charge Borrowerfor holding and applying the Funds,
<br />annually analyzing the escrow account, or verfi�/ing the Escrow Items, unless Lender pays Bor�awer
<br />interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement
<br />is made in wriUng or Applicable Law requiraa interest to be paid on the Funds, Lender shall not be
<br />required to pay Borrower any interest or eamings on the Funds. Borrower and Lender can agree in
<br />wrl�ng, however, that interestshall be paid on the Funds. Lender shall give to Borrower, withoutcharge,
<br />an annual accouniing of the Funds as required by RESPA.
<br />ifthere is a surplus of Funds hefd in escrow, as defined under RESPA, Lender shall a�ountto Borrower
<br />forthe excessiunds In accordancevvi� RESPA. Ifthere is a shortage of Funds held in escrow, as defined
<br />under RESPA, Lender shall nofify Borrower as required by RESPA, and Borrower shall pay to Lender the
<br />amount necessary to make up the shortage in accordance with RESPA, but in no more �an 12 monthly
<br />payments. If there is a deflciency af Funds held in escrow, as defined under RESPA, Lender shall notify
<br />Borrawer as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the
<br />deflciency in accordance w[th RESPA, but in no more than 12 monthly payments.
<br />Upon payment in futl of all sums secured by this Security Instrument, Lender shall promptJy refund
<br />to Borrower any Funds held by Lender. .
<br />4. Chargea; Llens. Bo�rrnroer shall pay all taxes, assessments, charges, fines, and impositions
<br />attributable to the Property which can attain priority over this Securtiy instrument, feaseh I
<br />tnitials:
<br />NEBRASKA-6ingle FamAy-Fennie Mae/Freddle Niao UNIFORM INSTRUMENT Form 30281i01
<br />Online Documents, Inc, Page 4 of 11 NEEDEED 1108
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