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� 201209793
<br /> 2.AppLica6on of Paymenfs or Proceeds.Except as otherwise described in this Secrion 2,all payments accepted
<br /> and applied by Lender shall 6e applied in the following order of priority:(a)interest due under the Note;(b}principal due
<br /> under the Note;(c)amounts due under Sec[ion 3.Such payments shall be applied to each Periodic Payment in the order
<br /> in which it became due.Any remaining amounts shall be applied fust to late charges,second to any other amounts due
<br /> under this Security Instrument,and then to reduce the principal balance of the Note.
<br /> If Lender receives a payment from Borrower for a delinquent Periodic Payment whieh includes a sufficient amount
<br /> to pay any tate char�e due,the payment may be applied to the delinquent payment and the late char�e.If more than one
<br /> Periodic Payment is outstanding,Lender may apply any payment received from Borrower to the repayment of the
<br /> Periodic Payments if,and to the extent that,each payment can be paid in full.To the extent that any excess exists after
<br /> the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late
<br /> charges due.Voluntary prepayments shall be applied first to any prepayment cl�arges and then as described in tl�e Note.
<br /> Any application of payments,insurance proceeds,orMiscellaneous Proceeds to principal due under the Note shall
<br /> not exiend or postpone the due date,or change the amount,of the Periodic Payments.
<br /> 3.Funds far Escrow Items.Boixower sl�all pay to Lender on the day Periodic Payments are due under the Note,
<br /> until the Note is paid in full,a sum(the"Funds")to provide for payment of amounts due for:(a)taxes and assessments
<br /> and other items which can aitain priority over this SecuriTy Instrument as a lien or encumbrance on the Property;
<br /> (b)leasel�old payments or ground rents on the Properiy,if any;(c)premiums for any and all insurance required by Lender
<br /> under Section 5;and(d)Mortgage Iasurance premiums,if any,or any sums payable by Borrowerto Lender in Iieuofthe
<br /> payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items aze called
<br /> "Escrow Items." Af origination or a[ any time during the term of the Loan, Lender may require that Communiry
<br /> Association Dues,Fees;and Assessments,if ang be escrowed by Borrower,and such dues,fees and assessments shall be
<br /> an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section.
<br /> Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's o6ligarion to pay the Funds for
<br /> any or all Escrow Items.Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at
<br /> any time.Any such waiver may only be in writing.In the event of such waiver,Borrower shalt pay directly,when and �
<br /> where payable,the amounts due for any�scrow Ttems for which payment of Funds has been waived by Lender and,if
<br /> Lender requires, shall fumish to Lender receipts evidencing such payment witlun such rime period as Lender may
<br /> require.Borrower's obLigation to make such payments and to provide receipts shall for all purposes be deemed to be a
<br /> covenant and agreement coniained in this Security Instrument,as the phrase"covenant and agreement'is used in Section
<br /> 9.If Borrower is obli�ated to pay Escrow Items directly,pursuant to a waiver,and Borrower fails to pay the amount due
<br /> for an Escrow Item,Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be
<br /> obli�ated under Secrion 9 to repay to Lender any such amount.Lender may revoke the waiver as to any or all Escrow �
<br /> Items at any rime by a notice given in accordance with Section 15 and,upon such revocation,Borrower shall pay to
<br /> Lender all Funds,and in such amounts,that are t1�en required under this Section 3.
<br /> Lender may,at any time,collect and hold Funds in an amount(a)sufficient to pennit Lender to apply the Punds at
<br /> the time specified underRESPA,and(b)notto exceed the maacimum aznount a lender can require underRESPA.Lender
<br /> shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future .
<br /> �serow Items or otherwise in accordance with Applicable Law.
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency,instrnmentality,or entity
<br /> (including Lender,if Lender is an institution whose deposits aze so insured)or in any Federal Home I.oan Bank.Lender
<br /> shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA.Lender shall not charge
<br /> � Borrower for holding and applyin�the Funds,annually analyzing d�e escrow account,or verifying the Escrow Itcros,
<br /> unless Lender pays Boimwer interest on the Funds and Applicable Law permits Lender to make such a chazge.Unless an
<br /> agreement is made in writing or Applica6le Law requires interest to be paid on the Punds,Lender shall not be required to
<br /> pay Borrower any interest or eamings on the Funds.Borrower and Lender can agree in writing,however,that interest
<br /> shall be paid on the Funds.Lender shall give to Borrower,without charge;a¢annual accounting ofthe Funds as required
<br /> by R�SPA.
<br /> If there is a surplus of Funds held in escrow,as defined under RESPA,Lender shall account to Borrower for the
<br /> excess funds in accordance with R�SPA.Ifthere is a shortage ofFunds held in escrow,as definedunderRESPA,Lender
<br /> shall notify Borrower as requ'ved by RESPA,and Borrower shall pay to Lender the amount necessary to make up the
<br /> NEBR4SKA-Singie Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT with MERSForm 3028 1f01
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<br /> ��,in�. Borrower(s)initials�''VD�I
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