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201210551 2. Applicationof Paymentsor Proceeds.Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the folbwing 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£�rst W late chazges,second to any other amounts due under this Security Iostmment,and then to reduce the principal balance of the Note. If Lender receivos a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amouut to pay any late charge due,the payment may be applied W the delinquent payment and the late charge. If more than one Periodic Payment is outstanding,Lender may apply any payment received from Bomowet to the repayment of the Periodic Payments if,and to the extent that,each payment can be paid in full. To the exten[that any excess exists after the payment is applied to the full payment of one or more Periodic Payments,such excess may be applied to any late charges due.Voluntary prepaymenu shall be applied first W any prepayment chazges and then as described in the Note. Any application of payments, insurance proceeds,or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date,or change the amouut,of the Periodic Payments. 3. Fundsfol'EscrOW Items. Borrower shall pay to Lender on the day Periodic Payments are due undcr the Note,until the Note is paid in full,a sam(the "Funds")to provide for payment of amounts due for: (a)taxes and assessme�ts znd other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b)leasehold payments or ground rents on the Property, if any; (c)premiums fot any and all insurance required by Lender under Section S;and(d)Mortgage Insurance premiums, if auy, or any sums payable by Sotrower to Lender in lieu of the payment of Modgage Insurance premiums in accordance with the provisio�s of Section 10.These items are called "Escrow Items."At origination or at any time during the term of the Loan,Lender may require that Community Association Dues, Fees,and Assessme�ts, if any,be escrowed by Borrower,and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly fumish to Lender all notices of amounts to be paid uuder this Secuon. Bonower shall pay Lender the Funds for Escrow Items unless Le�der waives Borrower's obligation to pay the Funds for auy or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time.Any such waiver may only be in writing. In the event of snch�vaiver, Borrower shall pay duectly,when and where payable,the amounts due Yor auy Escrow Items for which payment of Funds has been waived by Lender and,if Lender requues,shall fumish to Lender receipts evidencing such payment within such time period as Lender may require. Bonower's obligation to make such payments and to provide receipts shall for all pwposes be deemad to be a covenant and agreement contained in this Security Instrument,as the phrase"covenant and ageement" is used in Section 9. if Boaower is obligated to pay Escrow Items d'uectly,pursuant to a waiver,and Borrower fails[o pay the amount due for an Escrow Item,Lender may exercise its rights under Section 9 and pay such amount and Borzower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as[o any or all Escrow ltems at any 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 are then required unde�tlus Section 3. Lender may,at any time,collect and hold Funds in an amouut(a)suTYicient 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.Lender shall estimate the amount of Fonds due on the basis of wrrent data and reasonable estimates of expenditwes of Yuture Escrow Items or othenvise in accordance with Applicable Law. NEBRASKASIngle Famllyfannie Mae/Fretltlie Mec UNIFOPM INSTRUMENT WITH MERS Foim 3D281/01 VMP� VMPBAME)(1106}00 Wolteis Kluwer Flnanclal Servlces Paga 5 of 1� II I I I�I"I I I II II I I I I II II II I II�I II II I I I I I I II�I I I I� q03311135970 0233 433 D517