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201207796 2. Application of payments or Proceeds. Excepe as otl�erwise described in this Section 2, all payn,ei�ts accepted and applicd by Lcnder shall bc xpplicd in tlic followu�g order of prionty: (a)i��CeresY due under the Note; (b)principal due under the Note; (c) xmuunls duc under Section 3. Such payments shatl be applied [o each Periodic PaymenC in Cl�e order in whicl� it became due. Ai2y remaining amounts shall be applied tust to Ialc ct�argcs, sccoud to a�iy other amouuts due uuder Uiis Security Insri ument, and then to rediwe Lhc principal bxlxncc uf Lhc Nolc. If Lendcr rcceives a payment fiam Ron�ower for a delinquent Periodic P�ymenC which includes a sufficient amotmC Co pay any late charge due, thc paymc��may hc applied lo t�he delinyueiit�paymei�t a�id tlie late charga If�nore than one Periodic PayinenC is outstandir�, Lender may 2pply 1ny plyment ree;eivcd from Borrower to the repayment of thc Periodie Payinents if, and to the extent that, each payment can be paid in tall. To the exient d�a[any excess exists af�ter the payment is applied w �he full pnymenL of unc or morc Yeriodie Yayincnts, such excass may be appJicd to any late charges due. Voluntary prepaymcnts shall be applied tirst to any prepayinenC eharges and dien as described in tl1e Nutc. Any appl icalion of payments, insw'anca;proeeeds, or Miscellaneous Proceeds to princi}�al duc undcr�hc IVo[c sl�all not exLend or��ostF�onc thc due date, or change eLie amount, af flie Periodic Payuiei�Cs. 3. Funds Yor Escrow Items. Borrower shail pay to Lender on t]�e day Periodic Plymeeits are due under tlie Note, uutil the Note is paid in full, 2 sttm(the "Pui�ds") Lo providc for puymcnt uf amounts dite for. (a) taxcs and asscssments and otl�er items wl�icl� can attain priority over d�is Security Tnstrument as a Gen or enetunbrance on die Property; (6) Leaschold payments or grouod rents on ttie Propeery, if any; (c)premiums for xiry and all insw�a��ce requirul by Lender under Section 5; and (cl) Mortgngc Insurnncc prcmiums, if any, �.or any sums pxyablc by Burrower Lo I.ender in lieu of the payinent of Mortgage Insurance preininms in accordauce wifl� Cl�e provisions of Sec[ion 10. 'I'hcsc items are called "F,scrow Items." At origination or at any timc during thc tcnn of die Loan, Lender may require that Coimmmiry Association Dues, l�ccs, and Assessments, if any, bc cscrowcd by Rorrower, znd such dttes, fees and assessmenfs shall be an Escrow ICem. Borrower shall promptly furnish Lu Lcnder all notices of amounts to be paid undei tl�is Sec[ion. Borrower sliall pay Lender Ylte Funds for Escrow Items unlcss Lcndcr wxivcs Borruwcr's obligation to pay tlie I'unds for any or a1T Escrow Itenis. Lender may waive Borrower's obligation to pay to Lender Funds for auy or al] Escrow Items at any time. A��y such waiver may only be iu wri[iug. I�� tl�e event of such wtiver, Borrowcr sl�all pay direcfly, wlien and where payable, Lhc amuunLs duc for xny �.scroN� Itcros far which paymenL of Funds has 6een waived by Lender and, if Lender requires, shall fiu�nish to Leuder receipts evidencing sueli payment within such Lime period as Lender ivay require. Borrower's obligaCion Co make auch paymcnts u�d to provide receipts shall for all purposcs bc dccmcd Lu l�c n covcnant und agrecmcnt eontained iu tliis Seciu-ity lnstrurnenG, as the plirase "eovenant and agreement" is used in Section 9. If Borrower is obligated to pay Bscrow ILcn�s directly, �ursuai�t to a waiver, aud Boirower fails Co pay the amuunt duc for an Escrow Item, Lender may exercise its rights m�dcr Scc�ion 9 xnd pxy such amount ai�d Borrower sliall tizen be obligated nnder Sectiou 9 Co repay to Lender a�y such amoun[. Lender may revokc tlie waiver as to any or all Escrow Items at any i.ime by a notice given in accordance wid� Secuou 15 and, . upon auch revocation, Roirower shall pay to Lender all Punds, and in such amau�ts, d�al are [hen rcquircd u��der diis Section 3. Lender may, at ai2y time, collcct and lioid Funds in an amount (a) sufficient to permit Lender to apply [he Funds a[flie Cime specified under RGSPA, and (b) ��ot to exceed the maximutn ainounC a Lender can require �mder Rh;SPA. Lender shall estimate The ttmount of Punds duc un Ll�c basis oC currcnt data and rexsonable estimates of expeodi[ures uf fiature Escrow Iteius oe otherwise in accordance with Applicable Law. 88013004A2 ��) W ',h, 8801300482 NF.BHASKA-SingleFanllly-FannieMaalFeddlePAar11NIFORMINSTRUMFNTWITNMEHS � g.3 Fonn3�281101 VMP pf� VMP6A(NE)�1105� Woltors Kluw or Financial Sorvlces FaAe S of 1]