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201210843 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender sha11 be applied in the following order o£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 Paymeut in the order in which it becante duc. Any remaining amounts shaU be applied first lo late charges, second to any other amounts due under tlris Sec�viTy Instrument, and theu to reduce the principal balance of ffie Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount ro pay any late chazge due, the payment may be applied to the delinqu�t payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any paymerit received from Borrower to the repaymeut of the Periodic Payments if, and to the extent that, each payment can be paid in fu1L To the eatent that any excess exists after the paymeut is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayurc:nts shall be applied first to any prepayment charges and then as described in thc Note. Any appGcation of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. I3orrower shall pay to Lender on the day Periodic Payments aze due under the Note, until the Note is paid in fiill, a sum(the"Funds")to provide for payment of amounts due for. (a)taees and assessments and 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 for any and all insurance required by Lender under Section 5; and(d) Mortgage Insurance premiums, if any, or any sums payable by Borrower ro Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items aze ca7led"Escrow ltems." At origination or at any time during the term of the Loan, Lendcr may require that Community Associazion Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall prompUy fumish to Lender all notices of amounts to be paid under this Section. Borrower shall pay I.ender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or al] Escrow Items. Lender may waive Borrower's obligadon w pay to Lender Funds for any or all Escrow Items a[any time. My such waiver may only be in writing. In the event of such waiver, Borrower sha11 pay directly, when and where payable, the amounts due for any Escrow ltems for which payment of Funds has been waived by Lender and, if Lender requires, shall Fumish to L�der receipts evidencing such payment witlun 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 agreement contained in this Security Instrument, as the phrase "covenant and agreemenY' is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 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 a11 Escrow Items at any time hy a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to I.ender a11 Funds, and in such amounts, that are then required under tlus Section 3. Lender may, at any time, collect and hold Funds in an amount(a) suf6cient to permit Lender to apply the Funds at the time specified under RESPA, and(b)not to exceed the ma�cimum amount a lender car�require under RESPA. I.ender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of eacpenditures of future Escrow I[ems or otherwise in accordance with Applicable Law. 23002]8954 �VBANE NEBPASKA-Siiqle Femily-Fennie McelFredtlie Mac UNIFOHM INSTRUMENT WRH MENS Form 3039 1/D1 VMP�µ VMPBAINEI 111051 Wohers Kluwu Finanoel Sorvices Pepe 5 of 1]