|
��14�3�47
<br /> until�orrfl�er ma.kes payment ta br�ng the Laan current. If Bflrrovver daes nat do so�rzth�n a reasonable period of
<br /> time, I,�ender sha�� either apply such funds or return them�a Borra�er. If nat app��ed eariier, su�h fun.ds �vill be
<br /> applied tfl �h� outs�anding princ�pal ba�ance under �he Nate immec��ately priar �o foreclasure. �� offse� or claim
<br /> whi�h Barrotiver migh�ha�e na�T or in the future agains�Lender sha��relieve Borrovver from xnaking payrnents due
<br /> under the No�e and this Secur�ty Ins�rument ar perfarming�h� covenants and agreements secured by th�s Secur��y
<br /> Ins�rulnent.
<br /> �, Appl�cation af Paym�nts or Proceeds. Excep� as ath�rwise described in thi� Section 2, al� payments
<br /> accepted and app�ied by Lender :�hall be app�ied in the fo�lawing order of priority: [a} interest due under�he No�e;
<br /> �b�pr�ncipal due under the No�e, �c}amaun�s due under Sec�ian 3. Such payments shall be app��ed to each Periodic
<br /> Paymen�in the�rder�n which it became due. Any rernaining amaunts shall be app�ied f�rs�ta�ate charge�, sec�nd
<br /> to any❑ther amou�ats due under#:his Security�nstrumen�, and th�n�a reduc�th�principal balance�f�ie Nate.
<br /> If Le�der receive� a paym�nt from Borrovver for a delinquent Per�odic Payment which includes a suffici�nt
<br /> amount to pay any late charge due, the payment�nay be a�p��ed ta �he delxnquen�payment and the �ate charge. �f
<br /> more than one Peri�rlic �ayme�t �s outstanding, Lender may appiy a�y payment received fra�n Borrower to �he
<br /> repaymen�of�he Periodic Paym�n�s if, and ta the exten�that, ea�h payment can be paid in full. To �he e��ent that
<br /> any excess exis�s after the payrne�zt is app�ied to the full payment of one or mare Periodic Pay�ments, such excess rr�ay
<br /> be appl��d�o any Ia�e charges du�. Voluntary pr�paymen�s shall be applied first to any prepayment charges and t�en
<br /> as described in the Nate.
<br /> Any applica�ian af paymenl.s, insurance proc�eds, ar Misce��aneous Froceeds to principal due �a.n.nder�he Note
<br /> shal�not ex�end ar pas�pone�he�ue date, ar change the amount, af the Periadic Payn�en�s.
<br /> 3. Funds f�r Escr�w Ite�.n�. Borrower shall�ay�o Lender on�he da�Period�c Pay��ents are due under�he
<br /> No�e, until�he Nate is pa�d in fi�l�, a sum�the "Funds"} ta prnv�de for payme�.t af amaun�s due for: �a}�axes and
<br /> assessment� and other it�ms vvhi�h can atta�n priority over�his S�curi�y Instru�nen�as a lien or encumbrance on�he
<br /> Property; �b� Iea�ehald paymen�s or graund ren�s on the Proper�y, if any; �c�premiums for any and a�1 insurance
<br /> re�uired by Lender under S�c�ion.5; and�d�Mar�gage Insurance prem�ums, if any, ar any sums payable by Borro�rer
<br /> ta Lender in�ieu of the payment of Mortgage Insurance prem�ums in accordance�w�th the provision�vf Sectian ��.
<br /> These it�ms are called"Escrovv Items." At arigination or at any time during the term.of the Loan, Lender may require
<br /> that�orninunity Assaciation Du�s,Fe�s, and Assessments, if any, be escrawed by Borr�W�r,and such dues,fees and
<br /> assessmen�s shail be an Escrow I�em. Borrower sha11 prampt�y furnish to Lender al�natices of amaun�s�a b�paid
<br /> under �his Sect�on. Borr��v�rer �hall pay Lender th� Funds far Escrow ltems ux�less Lender Waxves BorroWer's
<br /> �bligation to pay the Funds for a�.y ar a�l Escra�r Items. Lender may vvai�re B�rroWer's obligation to pay�o Lender
<br /> Fu�ds fflr any ar a��Escrovv��em:�a�any t�me. Any such waiver may only be i�wri�ing. In the event af such waiver,
<br /> Barro�er sha��pay directly, wh�n and�nrhere payab�e, �he arn�unts due far any Escrow Items for vvhich payment of
<br /> Funds has been v�aived by Lend�r and, i.f Lender requires, shal�furriish�a Lend�r receipts evidencing su�h paym�nt
<br /> with�n such t�xne per�od as Lender may re�uxre. Borravver{s abligatian to make such payments and�o pravi.de receipts
<br /> shal�for a��purpases be deemed�to be a covenant and agr�emen�cQntained in this Secur�ty Ins�ru�nen�, as the phrase
<br /> "covenant and agreement" is us�d in Sectian 9. If Borrovver is�bliga�ed ta pa�Escrow Items directly, p�ursuan�to
<br /> a tiva�ver, and Borrower fai�s ta p�ay the amount due for an�scrovv I�em, Lender may exerczse i�s rights under Sec��on
<br /> 9 and pay such amoun�and Barrovver shall then be ob��gated under 5ect�on 9 to repay to Lender any such amoun�,
<br /> Lender may revoke�he wazver a��o any or a11 Escravv Items a�any����ne by a noti.ce given�n accordance with Sec�ian
<br /> 15 and, upon such revoca�ion, Borravver shall pay to Lenc�er a�l Funds, and in such amounts, �ha�are tiien requ�.red
<br /> under this Secti�n 3.
<br /> Lender may, at a�y ti�ne, cc�llect and hold Funds in an amaunt�a�suff��cient ta perm�t Lender t�app�y the Fund�
<br /> at�he t�m�specifed under RESPA, and�b}not to ex�e�d�he rna�imum au�oun�a�ender can requ�re under RESPA.
<br /> Lender shall estimate the arn�.ount af Fun.ds due on the basis of cu.rren�da�a and reasonable estimates af expenditu�es
<br /> �f future E�craw Items or Q�her�ise in accardarzce,w�th Applicable Law.
<br /> The Funds shall be held ir� an institu��on wh�se deposi�s are insured by a federal agency, instrumen�alit�, or
<br /> en�i�y �includxng Lender, if Lender�s an institution wh�se de��sits are sa insured} flr ir� any Federa�Home Loan
<br /> Bank. Lend�r shall app�y the Fu�ds to pay the Escro�r��en1s n�later than�he tzme specified under RESPA. Lender
<br /> NEBRASKA-Sing[e Family--Fanni� MaefFreddie Mac UNf F�RM INSTRUMENT �aclUla,g�c o
<br /> Farm 3��8 '110'( Page 4 af '�4 vv�,�rw.docmagi�.��rn
<br />
|