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��14�5��5 2, App�icat�an �f Paym�nts �r Praceed�. Except as oth�rwise �escribed in th�s Se�tion 2, all �ayments actepted and applied hy Lender sha�l be app�ied in the follawing �rder of pri4rity: �a� interest due undQ�the Note; �b} principal due und�r the No�e; �c� amount�due under 5ecti�n 3. Such payments shalf be applied to each Periodi� Payrnent in the order in which i� be�ame due. Any remain�ng amoun�s shall be applied fir5t to late cha�ges, sec�nd to any �ther amounts due under thi� 5e�urity Instrument, an� th�n to reduce the principal balance af the Note. �f Lender retei�es a payment from Borra�er for a delinquent PeriodiC Payment whieh in��udes a suffi�ient amflunt ta pay any late charge due, the payment may �� appl�ed ta the delinquent paym�n� and the late charge. If more than one P�riod ic Paym�nt is outstand ing, �end�r may apply any payment recei�ed from Borrower tv th� repayment of the Period ic Paymen�s if. and to the extent that, each payrnent tan be paid in fu I I. To the extent tha� any ex�ess exis�s after the payment �s applied ta �he fu I I payrr��nt of one or rnore Periodi� Payments, su�h excess may be applied �o any �ate �harg�� due, Voiuntary prepayment� shall be applied first to any prepayment�ha�ges a�nd�hen as des�rihed �n th� Note. Any applicativn of payr��nts, insurance proc�eds, �r Mi��ella��au� Pro�eeds�o principa� due under�he Nvte shal� not extend vr pastpone the due date. ar�han$e th��mount, qf the Periodic Paymen�s. 3, Funds for Estrov►► Items. Barr�wer shail pay�a �ender v� the day P�riodiG PaymQnts a�e due un�er th� Not�. until the Not� is paid in fuil, a sum�th� "Funds"}to provide far payment of amoun�s�ue fflr: �a]tax�s and assessments and other items whi�h can attain pri�rity o�er this 5ecurity Instrument as a lien ar en�umhranee�n the Property; �b} �easehvlt� �payments or ground ren�s on th� Pr�perty, if any; �r} pr�m�ums fvr any and a�l insurance required by l.�nder under 5ection 5; and �d} �Illartgage insuran�e premiums, if a�y, ar an� sums �ayable by B�rrowe� tv ��nder �n I�eu of the payment of Mortgage xnsurante premiums in a�cordance wi�h the p�o�isions of S�ct`rar� 1 a. These items are cal�ed "Es�row �tems." At or�gination or a� any time during the term of the Lflan, Lender rnay reQu�re that �ommun�ty Asso�iation Dues, Fees, and ASSe55ment5, if any, he escrowed by B�rrawer. and such dues, fees and as5essments shal# b� an Escrow Item. Borrower shall prompt�y furnish to Lend�r ail nvt�ces of amaunts �a be paid under this Section. Barrow�r shal� pay Lend�r th� Funds for Es�rov�r I�ems un��s5 Lend�r wa�ves Borrower's obligation to pay the Fund�fnr any ar al� Es��ow Items. �ender�ay waive Borr�we�'s�bligatiQn to pay tv L�n�er Funds for any or all Escrow Items at any time. Any su�h waive� may vnly b� in writing. In the e�ent of sw�h �n►ai►rer, B�rrvwer shall pay dire�tfy, when and where payab�e, the amounts �ue for any Es�row Items fflr wh��h payment of Funds has been waived hy Lend�r an�, if Lender requir�s, shal! furnish to �ender receipts �►►idencing suth payment within su�h t�me period as �ender may require. Bvrrower's abi�gatian to mak� such payments and ta pr��ide rec�ipts sha�l for al� purpvses be deemed to h� a co�enant and agreement con�a�ned in this Sezurity InstrumQnt. as the phras� "t��enan� and agreement" is used in 5ecti�n 9. If Borrower is �bliga�ed to pay Escrow Items d�re�tly. pursuant �a a �va�ver. and Borrower fails to pay the am�unt due for an Es�rvw �tem, Lender �nay �xercise �ts rights under 5e�ti4n 9 an� pay su�h amount and Borrawer shall then be o�ligated under Sectian 9 to repay�v Lender any such am�unt. L�nd�r may reWoke the waiver a� to any or all Es�row ��ems at any time by a n�ti�e ��n in a��ordan�e with Se�tion 15 an�, upon suCh re�ocation, Barrower shall pay ta Lender all Fun�s, and in such amaunts. that are then requi�ed under�his��ctian 3. l.�nder may. at any tirne, �olle�t and hold Funds in an am�un� �a) suffi�ient to permEt l.ender to apply the Funds at the t�me spec��ied under RESP�►, and �b} not to exc�ed the maximurn amvunt a lender can requir� under RESPA. Lende� shall est�mate the amaunt af Funds due on the basis af�urr�n� da�a an� rea�onable estimates of expenditu�es of future Escrow Items or v�herwi�e in ac�ordanc�with Applicable �aw. Q�1124U31334 [itibank 3.Z.87.09 V3 NEBRA5KA31ng��Familyfann�e MaelFreddle Ma�IJNIFDRM INSTRUMENT WITH M�RS Form 3flZ8 1101 VMP Q VMP'6A(NE]�13a2].00 Wolters Kluwer Financiaf 5�n►Eces Page 5 of 17