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�` ��15�1454 Z. Application of Payments-or Proceeds. Except as ntherwise described in this 5ection 2, al� paymen�s � ac�epted and applied by Lender shal�be appl�ed�n the f�ll�wing order of pr�ority: �a� �nterest due under�he N��e; �b�principa� due under the Note; �c� amounts du�under 5��an 3. Such paymen�s sha�1 be applied�a each P�riodic Payrnent in the order in v►�h�ch �t be�ame due. Any remaining amoun�s shali �e applied f rs�to la�e�harg�s, second�a any a�her amoun�s due under�his Secur�ty�nstrument, and then to reduce the princ�pa�balanc�of the Note. , �f L�nder rec�ives a paymen�frorn Bflrro�ver for a del inquent Periadic Payment wh�ch�nclud�s a suff c�ent amaunt to pay any Iate charge du�, the payment rnay�be applied�o the delinquent paymen�and the Iate charge. �f mare than one Periodic Payment is outs�anding, Lender may app�y any paymer�t recei�ed from B�rro�ver to the repayment of the Per�ad�c Payrnents if, and to the extent tha�, each paymen�can he pa�d in full. To the ex�ent that any excess exists after the payment is applied�o the fu�l payment of�ne ar more Per�odic Paymen�s, such ex�ess may be applied to any late charges due. Volun�ary prepayments shal�be appl�ed f rst�a any prepaym�n�charges and then as described in the Note. . Any application of paymen�s, insuran��proceeds, �r Misce�laneous Praceed�to principal due under the No�e sha11 no�ex�end t�r pos�pane the due date, or change the a�maunt, �f the Peri�dic Payments. 3. Funds for Escraw ltems� Borr�v�rer shaX� pay to Lender on th�day Periadic Faym.ents ar�due und�r the e Not�, unt��the No�e is paid �n full, a sum��he "Funds"}tfl pro��de for payment of amounts due for: �a}taxes and assessments and oth�r it�ms vvh�ch�an atta�n pr�or�ty ov�r this 5ecurity�nstrument as a l�en or �n�umbrance on the Prop�rty; �b) leaseho�d paym.ent� or gr�und ren�s an the Property, �f any; �c} premiums � for any and a�l insuran.ce requ�red by Lender under Section 5; and�d}M�rtgage�nsurance prem�ums, if any, or any sums payab�e by Bflrrower�o Lender �n�i�u af the paymen�of Mortgage�nsurance premiurns�n accardance with the pra�isiflns af Section ��. These items are called "Escrow Iterns." At or�ginatian or at any time dur�ng�he term of the Loan, Lender may require that�on�mun�ty Assoc�ation Ilues, Fees, and Assessments, if any, be escrawed by Barrov�rer, and such dues, fees and assessmen�s sha�1 be an Es�row I�em. Borra�nrer shali prompt�y furr�ish�o Lender a�1 no�i�es of am�unts to be paid und�r.�his Sec�ion. Borrower shall pay Lend�r the Funds f�r Eserovv Items unless L�nder waives Borrov�er's obligation�o pay �h�Funds for any or a�l Es�ravv Items. Lender may waxve Borrow�r's�bliga��on�o pay to Lender Funds far any or al� Escr�w Items at ariy time.'Any such wai�er m.ay on�y be in wr�t�ng. In�he event of such waiv�r, B�rrov�rer sha�� pay dare��y, v►�hen and where payab�e, the amou�ats due for any Escrow Ztems for vv�ich paymen�of Funds has b�en v�raived by Lender and, if L�nder requires, sha11 furnish to Lend�r receip�s e�ri�iencing such pa}�men�within such time peri�d as Lender may r�qu�re. Borrower's r�bl�gation�o make such paymen�s and t�provide receipts shal� f�r a�1 purposes be deemed.to be a covenant and agreement conta�ned in this Secur�ty�nstrum�nt, as th�phrase "covenant and agreemen�" is used in Sect�on 9. �f Borrawer is ob�igated�o pay Escrov��t�ms d�r�ctly, pursuan�t�a waiver, and Borra�t�ver fails to pay the arn�wr�.t due for an Escrov�Item, Lender may exer�is��ts rights urider Sect�on 9 and pay such amount and Barrower sha11�hen be ok�l�gated under S�c�ion 9�o repay�o Lender any such an�aunt, Lender ma�r revoke �he v�a��er as to any or a�� Escrovv�tems at any�zme by a natice g��n�n accordance�nri�h Sect�on �5 and, upon such revocatifln, Barrflwer sha.�1 pay to I�en+der a.�1 Funds, and in such am�un�s, that are then requ�red und�r this S�etion 3. � ` Lender may, at any time, collect and hold Funds in an arnount�a}sufficient�o permi�Lend�r to app�y the Funds a�the time spec�fied under RESPA, and�b} nat t�e�ceed��e rnaximum amaun�a�ender can require under RESPA. Lender sha�1 estimate th�amaun�of Funds due on the bas�s of current da�a and reasonable � estimates❑f exp�r�ditures of future Escra�v�t�ms or oth�rvvi�e�n accordance vv�th Applicalole Law. ssfl�6s�as� °r � �� r �� sa��sa7as� N�BRASKA-Single�ami�y-Fanr�i�M aelFreddie Mac�NIFaRM INSTRUM ENT WITH M ER5 �"'�� ° Form 3028 "�I�� VM P� VM P6A�NE}{1302) Wolt�rs K{uwer Financial Services . Page 5�f 17