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��14��34 2. Application �f Payments �r Pro�eeds. Except as �th�rwise described in this 5�cti�n 2, alf payments accepted and appli�d by Lender shalf be a�plied in the following ard�r of priority: �a} interest due under the Nvte; (b� prin�ipa� due unde�th� Note; �c} amounts�ue under Sectian 3, 5uch payments shall be appli�d to ea�h Period�� Payment in �h� arder in vuhi�h it becarne due, Any remaining amount� shali be applied frst to late charges, se�ond to any �th�r am�unts �ue undQr this 5ecurity In�t�ument, and then ta reduce th� principal balance of the Note, If �ender re�eives a payment frorn Borrower for a del�nquent Peri�di� Payment whieh includes a suff��ient amount to �ay any late charge �ue, thQ payment may �e applied to the d�linquent payment and the late tharge. If more than one Periodit Payrnent Es outstanding. �ender may appfy any paym�nt recei�ed fr�m B�rrower to the repayment of the Peri od ic Paymen�s if, and to the extent that. each payment ca n be pa id i n full, To the �xtent that any excess exists after the payment is applied to the full �aym�nt of one or more Perivdi� Payments, su�h excess may be applied tv any late eharge5 due. Voluntary prepayments 5ha�l b� appl i ed f�rs�to any p�epayment cha rges and then as des�ri be� i n the N o�e, Any applitat�vn of payments, insuran�e pro�eeds. or M i��ellaneous Proceeds to principaf due under the Nate sha�I not extend or pvstpone the due date, or change the amount, vf the Perifldi� Payments. 3. Funds for Es�rvw Items. B�rr�wer shall pay to L�nder on the day Period�C Payments are due under the Note. un�i� thQ Note is paid in fu�l� a sum�the "Funds"�to pra�ide far payment of amounts due fvr: �a]taxes and as5essments and other items which �an a#tain pri�rity over this Security Instrument as a lien or �ncumbran�e an the Praperty; {h} leaseh�ld pay�nents ar ground rents on the Pr�perty, if any; �c} premiums f�r any and all in5uran�e required by Lender under 5e�ti�n �; and �d} Martgage Insuran�e premiums, if any, or any sums payable by Borrower to ��nder in lieu of the payment of Mortgage Insurance premiums in a�c4rdance with the pro�isions of Section 1 D. These items are �all�d "Estrow Items." At originati�n or at any �irn� during the term of �he Loan, Lender may requir� that C�mmunity Asso�iation �ues, Fees. and Assessments, �f any, be eserowed by Borrawer, and such dues, fees and assessments shall he an Es�row Item. 8�rrower shall prompt�y fu�nish to Lend�r all no�ices �f amounts to be paid und�r this Secti�n, Borrower sha�l pay L�nd�r th� Funds fvr Estrow Items unl�ss �ender wai�es Barrower's abfigation to pay the Funds fvr any ar all Es�row Items. Lender may wai�e Borrower's obl�gati�n to pay to Lend�r Funds for any or afl Es�row Itiems at any�irne. Any suth wai�►er may�n�y be in wr�ting. In the event of su�h wai►►er. Borrower shall pay �irectfy. when and where paya�le. the amounts �ue for any Es�row items for which paymen� of Funds has b�en wa�Wed by Lender and, if Lender requires� shall furnish to �ender receipts e�idencing su�h payment within suth time period as ��nder may requfre. Bo�rvwer's obiigat�on to make such payments and to provide re�eipts sha�l far ali purposes be d�emed to h� a ��v�nant and agreement con�ained in �his Security �nstrument. as the phrase "ca�enant and agreement" is used in 5ect'ron 9. If Borrower �s o�figated to pay Es�row Items dire�tly. pursuant to a waiver. and Borrower fai�s to �ay th� amount due far an Es�row �tem, L�nder may exer�ise its rights under 5ection � and pay su�h amount and Borravr►er shal� then be obl igated under 5ection 9 to repay t� Lender any such am�unt. �ender may revak� the wai�er as to any or al I Escrow Items at any t�me by a notice gi�en in accordance with 5ettion �5 and, wpon swch re�ocation. Barrower shali pay to �ender all Funds, and in such amounts. that are then r�quired under this Se�tivn 3, �ender may. at any time, �oile�t and hold Funds in an amount �a} suffi�i�nt t� permit Lender to apply the Funds at the time sp��ified under RESPA, and �h} n�t to �xeeed th� maximurn amount a lender �an requir� under RESPA, �end�r shalf estimate the amount of Fund� �ue on the basis of�urrent data and reasonable �st�mates of expenditures of future Escrow Items�r otherwise in a«ordance with Appli�able Law, 0��7�3984fi35 �itibank 3.Z.84.n7 V2 NEBRASKA3ing�e�amilyfannle MaelFreddie Mac LINIFDRM INSTRUMENT WITH MERS Farm 30�8 1107 vM�'� VMP6A(NEy�1302�.D0 WaEters I{luwer Financial Se�vi�es Page 5 af 17 � �