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201209488 2. Applicationof Payments or Proceeds.Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a}interest due under the Note; (b)principal due under the Note; (c)amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due uoder this Secwity Insttument, and then to reduce the principal balance of the Note. IF Lender receives a payment from Borrower for a delinquent Periodic Payment which inciudes a sufficient amount to pay any late charge due,the payment may be applied to the delinquent payment and the late chazge. If more than one Periodic Payment is outstanding,Lender may apply any payment received from Bonowec to the repayment of the Periodic Payments if,and to the extent that, each payment cau be paid in fulL To the extent tUat any excess exisYs a8er the payiuent is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due.Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds,or Mis,�ellaneous Proceeds to principal due under the Note shall not extend or postpone the due date,or change th�amount,of the Periodic Payments. 3. Fundsfor Escrow Items.Borrower shall pay to Lender on the day Periodic Paymenis aze due under the Note,unril the Note is paid in full,a sum(the "Funds")to provide for payment of amounts due for: (a)taxes and assessments and other items which can attain prioriry over this Security Instrument as a lien or encumbrance on the Proper[y; (b)Ieasehold payments or gouod rents on the Property, if any; (c)premiums for auy aod all insurance required by Lender under Section 5; and(d)Mor[gage Insuraace premiums, if any, or any sums payable by Borrower to Lender in lieu of the paymeot of Mortgage Inswa¢ce premiums in accordance with the provisions of Section 10. These items aze called"Escrow Items." At origination or at any time during the term of the Loan,Lender may reyuire that Community Association Dues,Fees,and Assessments, if auy,be escrowed by Boaower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furni sh to Lender all notices of amounts to be paid under this Section. Bonower shall pay Lender the Fuuds for Escrow Items unless Leuder waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrowzr's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may ouly be in writing. In the event of such waiver, Borrower shall pay directly,when and where payable,the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires,shall fumis6 to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreemeut contained in this Securiry Instrument,as the pYirase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items d'uectty,pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow ltem,Lender may exercise its rights un�ier Section 9 and pay such amount aud 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 aay time by a notice given in accordance with Section 15 and, upon such revocation,Borrower shall pay to Lender all Funds,and in such amounts,that aze then reqifved under this Section 3. Lender may,at any time,wllect and hold Funds in an amount(a)sufficieut to permit Lender to apply the Funds at the time specified under RESPA,and(b)not to exceed the maximum amount a lender can require under RESPA. Leuder shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable I,aw. NEBRASKASingle Family-Fannia MadFretltlie Mac UNIFORM INStRUMENT WITH MERS Foim 3028 7/01 VMP� VMP9A(NE)(HQ5).00 Wolters Kluwer Finenclal Service» Page 5 of 17 IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIN � � q03310511262 0233 355 0517