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��14�15�4 2. Application�f Payments or Proceeds.Exc�pt as otherw�se described in this�ection�, all payments �cceptet�anti appl��d by Le�d�er sha11 he applied in the fo�lov�ing�rder of priorit�: �a)interest d�e under the No�e;�b�principa�due under the 1�Tote; (c}amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which i�became due. Any remaining arnounts shaXl be applied first to Iate charges,second to any other amounts c�ue under this Secu.r�ty Instrumen�,and then to reduce th� principal balance of the Not�. If Lende��eceiv�s a�ayment from Bona�ver fo�a�elin.��ent Periodic Pa�ment�hich includes a�s�afficient amount to pay an�late charge due,the paymen�may be applied ta the delinquent payment and the late �harge, If more than one Periodic Payment is outstanding,Lender may app�y any payment recei�ed from $orrower ta�he repa�yment of the Period�c�ayments if,and to the extent t�at, each payment can be paid in fu11. Ta the extent that any excess exists after the payment�s applied to the fu11 payment of�ne or more Periodic Payments,such excess may be applied to any 1a�e charges due.Volunta.ry prepayments shail be applied fust to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds,ar Miscellaneaus Proceeds to principal due under the Nat� s�h�ll not extend or pos�pane the d�ue date,or change the amoun.�,�f the P�ri�dic Pa�ments, 3, Fundsfor Escrovr►�tems.$orrower sha11 pay��Lender on the day Periodic Payments are due under the �Tote,unti�th�Note is paid in.full,a surri�the "Funds"}to provide for payme�t of amounts due for: (a)taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance oa the Property; (b}leaseho�d payments or grvund rents on�he Property, if an}�; (c}premiums for any and alI insurance required�y Lender under Section 5;and(d�MQrtgag�Insurar��e�remiums,if any, or any�ums payable�y Borrower to Lender in lieu af the payment af Mortgage Insurance premiums in accordance with the provisions of Section 1�. These items are ca11e�1"Escrow Items."At origination or at any�i��du�ing�he term o�the Laan,�.ender may require that�o�nmunity Associatian Dues,Fees,and Assessments,if any,be escrowed by Borrower,and such dues, fees and assessments shal�be an Escro�r Item. Borro�ver sha11 pramptly furni�h to Lender a�t notices of amounts to be paid un�ler tb�s Section. �3orrower shall pay�ender the Funds for Escrow Items unless Lender wai�es Borrower's abligation�o pay the Funds for any ar a11 Escrow Items.Lender may waive Borrower's abligation to pay to Lender Funds for any or a11 Es�row Items at any time.Any su�h waiver may only be in writing. In the event of such waiver, Borrower sha11 pay directly,when and where paya��e,the amounts due for any Es�ra�v�tems far whiGh payment of Funds has been wai�ed by Lender and, if Lender requires, sha11 furn�sh to Lender re�eip�s evidencing such payment wi�hin such time period as Lender may require. Borrower's obligation to make such payments and to pro��de receipts sha11 far all purposes be deemed to be a c�venant and agreement con�a.ined in this Security Instrument, as the phrase "covenant and agreement" is used in Sect�on 9. If Sorrower is obli�ated to pay Escrow It�ms directly,pursuant to a�rraiver,and Bonower fails to pay�he amount due for an Escro�v Item,Lend�r may exerGise its r�ghts under Section�and pay such arnount and Borrower sha11 then be abliga�ed und�r Section�to repay to Lender any�uch am�unt. Lender m�y revoke the wa��rer as to�ny or a1t�Escro�Iter�s a�a�n�time b�a notice given iri accordance�ith Se�tion 15 anti, upon such re�ocation,Borrower shatl pay to Lende�r all Funds,and in su�h amounts,that are then required under this Section 3. Lender may,at any�ime,��lte�t a�d hold Funds in an amount(a}sufficient to permit Lender t�apply the Funds at the time specifi�d under RESPA,and�b)not��exceed the maximum amaunt a lender can require under RESPA.Lender�hall estima�e the amnunt of Funds due on the bas��vf current data and reas��able estimates af expenditures af future Escrow I�ems or otherwise in accordance with Applicable Law. NEBRASKA�ingle Famiiy-Fannie MaelFr►e�dd�e Mac UN�F�RM IhISTRLIMENT WlTH MERS Form 3428 11n1 VMP� VMPfiA(NE)(1342}.04 Vliotters Kluwer Fir�artcial Servic�s Page 5 of�7 qQ33238zQ�91 �233 �55 �517