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' ' ' 201208202 I� 2. Application of Payments or Proceeds. Except as otherwise described in diis Section 2, all payments aa;epted and applied by Lender shall be applied in the following order of prioriry: (a) interest due uuder die Nnre; (b)p�incipal d�e under dte Nore; (c)amomits due muler Section 3. Such payments shall be applied to each Periodic Payment iu the oider iu which it became due. Any remaining amounts Utall be applied first ro late charges, sec�nd to any other amounts due under this Securiry lustrumeut, and tlien ro reduce tl�e � principal balance of the Note. , If l,ender receives a payment from Borrower for a delinquent Periodic Payment whicli includes a sufficieut amount ro pay auy late charge due, tlie paymeut may he applied to t6e delinqueut paymeut and the late charge. If more thau oue Perioclic Paymeut is outstanding, Lender may apply any payment received from Borrower to the repayment of tl�e Periodic Paymeu�s if, and to the exteut tl�at, each payaient can be paid in I fiill. To the extent that any excess exists after the payment is applied to the full payment of one or more Periudic Payments, such excess may t�e applied to any late cliarges due. Voluntary prepaymeuts shall be I applied first to any prepayment chaxges and then as described in the Note. Any application oP paymenCs, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not exteud oc postpone the due date, or change the amount, nf the Peciodic Payroents. 3. Funds for Escrow Items. Borrower sLall pay to l.ender on the day Periudic Payments are dae onder tl�e Note, uutil the Note is paid in fiill, a suui(the "Fwids") to pxovide fo�payment of amounts due foc (a) taxrs �� and assessments and other items wliich ca��attain priority ove� this Securiry Instruruent as a lien or eucumbrance ou die Property; (h) leasehold paymeiits or gound renrs on the Properry, if any; (c) premiums for any and all insurance required hy Lender under Sectiou 5; aud(d) Mortgage LLsurance prenuums, if any, or any sums payable by Borrowe�to Lender in lieu of the payment of Mortgage Insueavce premiums in accordance widi the provisions of Section 10. Tl�ese items are called "Escrow Items." At origiva[ion or at any time duxiug [he temi of die Loan, Lendec may require that Conuuwuty Association Daes, Fees, and Assessments, if auy, be escrowed by Borrower, and sucl� dues, fees aud assessuients sl�all be an Escrow Item. Borrower shttll prorupdy fur�ush to l.ei�der all nopces of amounts u�be paid under this Sectio�i. Borrowec sliall pay L.ender d�e Funds for Escrow Items wiless Lender waives Borrower's obligation w pay the Fands fo�auy ox all Escxow Items. l.ender roay waive Borrower's obligatioi�to pay to Lender Funds for aiiy or all Escruw Items at any tiroe. Any sucli waiver nuy only he in writing. Li the event of such waiver, Borrower sliall pay directly, wlien and where pttyabte, We amounts due for auy Escrow Items for which payment of Fands has heeu waived by Lender and, if Lender reyuires, sl�all furnish to Lender receipts evidencing such payment within such time period as Lender nuy require. Borrnwer's obligation to make such payments aiid to provide receipts shall for all purposes be deemed tu be a covenant and agreement contained in tl�is Secuciry Ivstmmeut, as the pl�ra� "cuvenant and agreement" is ased in Section 9. If Borrower is obligated tn pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay tl�e amoun[ due for a��Escrow Item, Lender n�ay exercise its rights ui�der Section 9 aud pay such amouut a�id Bocxower shall [heu be obligated under Section 9 to repay ro L.ender any such amouut. L,ender may revoke the waiver as to a�ry ox all Escrow Items a[ any [ime by a notice given in accordance widi Section 15 and, upou such�evcxation, Borrower sl�all pay to Leudec all Fuuds, and in sucli amounts, that a�e then required under this Section 3. Lender roay, at any time, collect and liold Punds in an amount (a) sufficieut to pernrit I.ender tu apply the Fuuds at t6e time specified uuder RESPA, and (b)�iot[o exceed tl�e ntaximum amount a leuder can requi�e under RESPA. I.ender slull rstinute the amount of Funds due on the basis of current data and reasonable estima[es of expenditures of futare Escrow ltems or otherwise iu aaordance with Applicable Law. 106ANE 00088]963Y20 Seo«mber11,Y01Y NEBRASKA-Single Family-Pannie Mm/Fretltlie Mac I1IJIFORM INSTRUMENT IViTH MERS Fo.m 3028 1%01 VMP pp VMPBAINEI(1105).00 W otlers KNwer Rnancial$ervices Page 5 of 1)