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201208675 No offset or claunw2uch BorroK�ar snight have now or in the future against Lender shall relieve Borrower From making payinents due under the Note and this Security Instniment or perfomung the covenauts and agreements secured by this Security Insriument 2. Apptication of Payments or Proceeds. Except as othenvise descnibed in this Section 2, all paymenis accepted and applied by Lender si�all be applied in the following order of priorii3�_ (a)interest due under the Note; (6)principai due under the hTote; (c)amounts due uader Section 3.Such paymeuts shall be applied to each Periodic Payment in the order ise wkrich it became due_ Any remaining amounts shalI be applied first to iate charges, second to auy other amounts due under this Security Instrument, and then to reduce the grincipal balance of ffie Note. [f Lender receives a paymenT #Yom Borro��er for a delinquent Periodic Payment which includes a suff'icient amount to pay any late ck�arge due,the payment may be agplied to the delinquent pa;�ment and the late charge. If more thau one Periodic Payment is outstanding, Lender may appIy any payment received from Bozrower to the repayment of the Periodic Payments if,and to the eatent that, each payment can be paid in fuil. To the extent that any excess exists after the paymerrt is app�ied to the fuIi payment of one or mare Periodic Payments, such escess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges aad ihen as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principat due under the Note sUall not extend or postpone the due date, or change tbe amount,of the Periodic I'ayments. 3. Funds for Escrow IEsms. Bonower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in fut1, a sum (the "Funds") to provide for payment of amounts due for: (a)takes and assessments and other items which can attain priority over this Security Irisiniment es a lien or encumbrance on the Property; @) leasehold payments or ground rents on the Praperty, if any; (c)premizuns for an}� and all insur'ance requaed by Lender tmder Secfion 5; and (d) Mortgage Insw-ance p[emiums, if ziny, or arry stnns payable by Boaower to Lender in lieu of the payment of Mortgage 7nsurauce premiums in accordance with the pmvisions of Section 10. These items aze called "Escrow items." At orig'vsation or at any rime cfuring the term of the Loan,Lender may require ttiat Community tassociation IIues, Fees,and Assessments, if any,be escrowed by Borrower,and such dues, fees and assessments shall be an Escrow item. Bosower shall promptly fux�nish to Lender all notices of amounts to be gaid uader this 5ection. Borro�uer shall pay Lender the Funds for Escrow Items tmless Lender waives Borrower's obiigation to pay the Funds for any or aI1 Escrow Items_ Lender may waive Bonower's obligation to pay to Lender Ftmds for any or all Escrow Ttems at any time.Any such waiver may only be in tivriting. In the e�ent of such waiver,Borrower shall pay di.rectly, when and where payable, the anaounts due far any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requises, sttall fumish to Lender receipts evidencing such payment witthin such iame period as Lender may require. Bozzowe�s obligation to make such paymants and to provide receipts shall for aIl p�.uposes be deemed to be a covenant and agreement contained in tk►is Security Instruiuent, as the phrase "cove.�ant and agreement" is used in Section 9.Ff Borrowes is obHgated to pay Escrow Items directly,pcusuant to a wail er,and Borrow�er fa.ils to pay the amount due for an Escrow Item,Lender may exercise its rights zmder Seotion 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 Escrow Items at arcy time by x notice given in accordance witt�Section 15 and,upon such revocation, Borrower shaIl pay to Lender all Funds, and'ue sucb amounfs, that aze then required under tbis Section 3. Lender may,at any i3me,collect and hold Funds ia an amount (a)sufficient to permit Lender to apply the F�mds at the time specified under RESPA,and(b}nat to exceed the ma>:imum amount a lender can zequire under RESPA. Lender shall esiimate ffie amount of Funds due on the basis of current data and reasonable estimates oP expenditures of future Escrow Items or otherwise in accordance with Applicable Lau_ NEBRASKASmpia Fam'Iy-Pannie MaetFred�e Mae UNIFQRM INSfRUMENi' Fmn 3028'It01 VMP&T VA5P8(N� ('1905}.OD WdOers Wuwu Rnancial" res - Page 4 of 15 l I�II I��II�I�I�I�I��I��I�I�II�I�I�II II�I lill��