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201207846 2. Application of Payments or Pro�s. Except as otherwise described in tlils Section 2, al1 payments accepted and applied by Lender shall be applied in [he following order oF prlority: (a) interest due under fhe Note; (b) pdncipal due under the No[e; (c) amoun[s due under Section 3. Such payments shall be applied [o each Periodic Payment in the order in which i[ became due. Any remaining amounts shall be applied first [o late charges, second to any other amounts dae under this Security Instrument, and then to reduce the principal balance of We No[e. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the dellnquent payment and the late charge. If more than one Perlodic Payment is outsfanding, Lender may apply any paymenl received from Borrower to the repayment of the Perlodic Paymenis if, aud to [he eac[ent that, each payment can be paid in full. To �he e�ctent that any excess ewsts after fLe payroent is applied to the full paymen[ of one or more Pedodic Payments, such excess may be applled to any late charges due. Volun�ary prepayments shall 6e applied first to any prepayment charges and then as descrlbed in the Note. Any applicaflon of payments, insurance proceeds, or MIscellaneous Proceeds to pdncipal due ander Ihe Nole shall nol extend or pos[pone the due date, or change the amount, of the Periodic Payments. 3. Funds for ESC�ow Items. Borrower shall pay to Lender on the day Periodic Payments are dae under �he Note, until the Note is paid in full, a surn {the "Funds") ro provide for payment of amounts due For. (a) ta�ces and assessmeats and other items which can attain priority over this Security Inswment as a lien or encumbrance on the Pmperty; (b) leasehold paymenfs or ground rents on the Property, if any; (c) premiums for any and all insarance required by Lender under Secflon 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Boreower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At originaflon or at any time during tLe term of [he Loan, Lender may requite that Community Association Dues, Fees, aud Assessments, ff any, be escrowed by Borrower, and such dues, Fees and assessments shall be an Escrow Item. Sortnwer shall prompfly fiunish to Leuder all uotices of amounts to be paid under this Section. Bonower shall pay Lender ihe Funds for Escrow Items unless Lender waives Borrower's obligaHon to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Iteros at any time. Any such waiver may only be in writing. In We event of such waiver, Borrower shall pay direcdy, when and where payable, the amoun[s due for any Escrow Items for which payment of Funds has been waived by L.ender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such Hme period as Lender may require. Borrower's obllgadon to make such paymen[s and to provIde receip[s shall for all paipases be deemed to be a covenant and agreemen[ contained in thls Security Instrumen[, as the phrase "covenaat and agreement" is used in Section 9. If Borrower is obligated to pay Escrow I[ems direcUy, pursuant to a waiver, and Borrower fails m pay ihe amoun[ due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount Lender may revoke the waiver as to any or all Fscrow Items at any time by a aotice given in accordance with Section 15 and, upon such revocaHon, Borrower shall pay to Lender all Funds, and in such amoun[s, Utat aze Wen required under Ihis Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lendet to apply the Funds at the time specified under RESPA, and (b) not to exceed Ute ma�dmum amount a lender can require under RESPA. Lender shall esflma[e [he amount oF Funds due on the basis of current data and reasonable estimates of expenditures of falure Fscrow Items or otherwise in accordance with Applicable L.aw. OU7123198]69 Cttlbenk 3.2.61.12 V] NE6RASKA�Single Family-FamJe Mae/Fretltlk Mac UNIFORM INSTRIIMENT WRH MERS Form 302B 1/01 VMP� VMP6A(NE)�1105).00 Wolters Kluwer Financial Services Paqe 5 0l t7