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201302134 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall he applied in the MIlowing order of priority: (a) interest due under the Note; (h) 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 under this Security Instrument. and then to reduce the principal balance of the Note. II Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may he applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can he paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may he applied to any late charges due. Voluntary prepayments shall he applied first to any prepayment charges 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 amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until 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 priority over this Security Instrument as a lien or encumbrance on the Property; th) leasehold payments or ground rents on the Property, if any; tc) premiums for any and all insurance required by Lender under Section 5: and (di Mortgage Insurance premiums, it any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions 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 Assessments, if any, he escrowed by Borrower, and such dues, fees and assessments shall he an Escrow Item. Burrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for ally 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 he in writing. in the event of such waver, 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 furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to stake such payments and to provide receipts shall tit-all purposes he deemed to he a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. It Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Rent. Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then he obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section IS and. upon such revocation. Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Fund, in all amount (al sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (h) not to exceed the maximum amount a lender call require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of luture Escrow Items or otherwise in accordance with Applicable Law. 106K15 9005880735-)6 January 51, 2013 NEBRASKA-Single Family anne 'lae Fred,e Mae IJII IFOHM I li9 Pill,'FLT C"VH PIERS Fora 3028 1 C' n 2N1P6ANEI :1105:CO C.c.tars 1'u,✓er Rnancsi Serry art Page 5 of 1/