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� 0 � 4U634�
<br /> LOAN#:14086776
<br /> 2. Application of Payments or Proceeds.Except as othervvise described in this Section 2,all
<br /> payments accepted and applied by Lender shall be applied in the following order of priority:(a)interest
<br /> due under the Note;(b)principal due under the Note;(c)amounts due under Section 3.Such payments
<br /> shall be appiied to each Periodic Payment in the order in which it became due.Any remaining amounts
<br /> shall be applied first to late charges,second to any other amounts due under this Security instrument,
<br /> and then to reduce the principai balance of the Note.
<br /> if Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a
<br /> sufficient amount to pay any late charge due,the payment may be appiied to the delinquent payment and
<br /> the late charge.If more than one Periodic Payment is outstanding,Lender may apply any payment received
<br /> from Borrower to the repayment of the Penodic Payments if,and to the extent that,eacf�payment can be
<br /> paid in fuil.To the extent that any excess exists after the payment is applied to the full payment of one or
<br /> more Periodic Payments,such excess may be appiied to any late charges due.Voluntary prepayments
<br /> shall be applied first to any prepayment charges and then as described in the Nate.
<br /> Any application of payments,insurance proceeds,or Misceilaneous Proceeds to principal due under
<br /> the Note shall not extend or postpone the due date,or change the amount,of the Periodic Payments.
<br /> 3. Funds for Escrow items.Borrower shall pay to Lender on the day Periodic Payments are due
<br /> under the Note,until the Note is paid in fuli,a sum(the"Funds")to provide for payment of amounts due
<br /> for:(a)taxes and assessments and other items which can attain priority over this Security Instrument as
<br />' a lisn or encumbrance on ihe Property;(b)leasehoid payments or ground rents on the Property,if any;
<br /> (c)premiums for any and all insurance required by Lender under Section 5;and(d)Mortgage Insurance
<br /> premiums,if any,orany sums payable by Borrowerto Lender in lieu ofthe payment of Mortgage Insurance
<br /> premiums in accordance with the provisions of Section 10.These items are calted"Escrow Items."At
<br /> origination or at any time during the term of the Loan,Lender may require that Community Association
<br /> Dues,Fees,and Assessments,if any,be escrowed by Borrower,and such dues,fees and assessments
<br /> shall be an Escrow Item.Borrower shall promptly furnish to Lender all notices of amounts to be paid under
<br /> this Section.Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's
<br /> obligation to pay the Funds for any or all Escrow Items.lender may waive Borrower's obligation to pay
<br /> to Lender Funds for any or all Escrow Items at any time.Any such waiver may only be in writing.In the
<br />� event of such waiver, Borrower shal!pay directly,when and where payable,the amounts due for any
<br /> Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall
<br /> fumish to Lender receipts evidencing such payment within such time period as Lender may require.
<br /> Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed
<br /> to be a covenant and agreement contained in this Security Instrument, as the phrase"covenant and
<br /> agreemenY'is used in Section 9. If Borrower is obiigated to pay Escrow Items directly, pursuant to a
<br />, waiver,and Borrower fails to pay the amount due for an Escrow Item,Lender may exercise its rights
<br /> under Section 9 and pay such amount and Borrower shali then be obligated under Section 9 to repay
<br /> to Lender any such amount.Lender may revoke the waiver as to any or all Escrow Items at any time by
<br /> I a notice given in accordance with Section 15 and,upon such revocation,Borrower shall pay to Lender
<br /> all Funds,and in such amounts,that are then required under this Section 3.
<br /> lender may,at any time,coilect and hold Funds in an amount(a)su�cient to permit Lender to apply
<br /> the Funds at the time specified under RESPA,and(b)not to exceed the maximum amount a Isnder can
<br /> require under RESPA.Lender shali estimate the amount of Funds due on the basis of current data and
<br /> reasonable estimates of expenditures of future Escrow items or othervvise in accordance with Applicable
<br /> Law.
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency,instrumentality,
<br /> or entity(including Lender,if Lender is an institution whose deposits are so insured)or in any Federal
<br /> Home Loan Bank.Lender shall apply the Funds to pay the Escrow Items no later than the time specified
<br /> under RESPA.Lender shall not charge Borrower for holding and appiying the Funds,annually analyzing
<br /> the escrow account,or verifying the Escrow Items,unless Lender pays Borrower interest on the Funds
<br /> and Applicable Law permits Lender to make such a charge.Unless an agreement is made in writing or
<br /> Applicable�aw requires interest to be paid on the Funds,Lender shall not be required to pay Borrower
<br /> any interest or eamings on the Funds.Borrower and Lender can agree in writing,however,that interest
<br /> shall be paid on the Funds.Lender shali give to Borrower,without charge,an annual accounting of the
<br /> Funds as required by RESPA.
<br /> If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to
<br /> Borrower for the excess funds in accordance with RESPA.If there is a shortage of Funds held in escrow,
<br /> as de�ned under RESPA,Lender shall notify Borrower as required by RESPA,and Borrower shall pay to
<br /> Lender the amount necessary to make up the shortage in accordance with RESPA,but in no more than
<br /> 12 monthly payments.If there is a deficiency of Funds held in escrow,as defined under RESPA,Lender
<br /> shal�notify Borrower as required by RESPA,and Borrower shall pay to Lender the amount necessary
<br /> to make up the deficiency in accordance with RESPA,but in no more than 12 monthly payments.
<br /> Upon payment in fuli of all sums secured by this Security instrument,Lender shail promptly refund
<br /> to Borrower any Funds heid by Lendec
<br /> 4. Charges; Liens.Borrower shail pay ail taxes,assessments,charges, fines,and impositions �
<br /> attributable to the Property which can attain priority over this Security Instrument,leaseho�����eri'G7/J{/� ( r„, �C
<br /> Initials: �{�<<N ��
<br /> NEBRASKA—Single Family—Fannle Mae/Freddie Mae UNIFORM INSTRUMENT Form 3028 1/01
<br /> Ellie Mae,Inc. Page 4 of 11 NEEDEED 7212
<br /> NEEDEED
<br /> 10/02/2014 10:19 AM PST
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