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ti012Q�95� 2. Applicatlon af Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by I.ender shall be applied in the following order of priority: (a) i�est dua under tha Nota, (b) PrinciPal due under the Note; (c) amounts dua under Saction 3. Such payments shall be applied to each Periodic Pay�nt in the order in wltich it b� due. Any remaining amounts shall be applied first to late charg�, second to any othar a�unts due under this Saeurity Instrument, and then to reduce the principal balance of the Note. If Lender raceiv� a payment from Borrow� for a dalinquent Periodic Payment wluch includes a su�cient aamunt to pay any lata charga due, the paym�t may be applied to tha dalinquent payment and tha late charge. �f �re than ona Periodic Paym�t is outstanding, Lend� may app1Y �Y Payment received from Borrower to the repayment of the Periodic Payments i� and to the extent that, each payment can ba paid in full. To the axt�t that any axcess exists after the paym,ent is appliefl to the fiill payment of one or mora Periodic Payments, such excess may be applied to any late chazges due. Voluntary prepayments sha11 ba applied first to anY PrePaYment charg� and then as descdbed in the Note. Any application of payments, ins�u�auce pra�eds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpona the due data, ar chauge the a�unt, of the Periodic Payments. 3. Funds for E�crow Iterr�s. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of a�unts due for: (a) ttanes and assess�ments and other itams which can attain priority over this Security Instrument as a lien or encim�braace on the ProPertY: (b) leasehold payments or ground rents on the Properly. if anY; (o) Premiums for any and all insurance req�rired by I.ender under Section 5; and (� Mo�Rgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mo�Rgaga Insuranca premiums in accordance with the provisions of 5ection 10. Thesa items ara called "Escrow Items." At origination or at any time during tha term of tha Loan, L�der may requira that Community Association Dues, Fe,as, and Asses�ments, if any, be escrowed by Borrower, aad such dues, fees and assessments shall be an Escrow Item. Horrower shall gromptly furnish to Lender all notices of amowrts to be paid undez this Saction. Borrower ahall pay Lender tha Fimds far Escrow Itams unle�s I,ender waives Borrower' s obligation to pay the Funds for any or all Escrow Items. Lender may waiva Bonow�'s obligation to pay to Lendar Funds for any or all Escrow Items at any time. Any such waiver may oniy be in writing. In the �vent of such waivea�, Borrower shall pay dire�tly, when and where payable, the amounts due for any Escrow Items for which paymant of Funds has be,an waived by Lender and, if Lender requirea, shall furnish to Lender receipts evidencing such payment within such ti� periad as Lender may r�uire. Boirower's obligation to make auch payments and to provide receipts shall for all purposes ba deemed to be a wve�aat and agre�ment contained in this Security Insh�nt, as tha phrasa "covenairt and agreement" is used in Section 9. If Borrower is obligated to pay F.scrow Items dire�tly, pursuant to a waiver, and Borrower fails to pay tha a�unt due for an F.scrow Item, Lend� may axercise its rights under Se�tion 9 and pay auch amount and Borrowar svall then be obligated imder Seclion 9 to repay to Lender any such s�uot. Lender may revoke the waiver as to any or all Escrow Itams at any time by a notice given in accordance with Section 15 and, upon such rev�ion, Boaower ahall pay to Lender a11 Funds, and in such amour►ts, that are then required under titis 5ection 3. Lender may, at any time, collect and hold Fimds in an amount (a) sufficient to pernnit I.ender to apply the Funds at the tia� specified under RESPA, and (b) not to exc�ed the m�ximum aa�unt a lender c�u re�uire under RESPA. Lender shall estimate the au�unt of Funds due on the basis of cucrent data and reasonable estimates of expendi� of futiae Escrow Items or othervvise in accordance with Applicable Law. 220d288381 D VBANE NEBRASKA.4ingte Fam9y-FenNe MeelFroddie Mao UNIFORM INSTRUMENT WITH MERS Form 3038 1l07 �P �� VMPBAINE) (1106) W � 8 � � a� P9ge 6 of 17 3'� AS