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��15�4533 �. Applicatianof Payments nr Proceeds.Except as othert�vise de�cribed in this Se�tion 2, all payments accepted and applied by Lender shall be applied in the fotlo�ving order of priority;(a}interest due under the Nate; �b}principal due und�r the Note;�c�amounts due under Section 3. Such pa�ments shall be applied to each Periodic Payment in the order in which it became due.Any remain.ing amounts sha�l be applied fust to late charges, second to any other amounts due under this Security�nstrument,and then�o reduce the princ�pal ba�ance of the�ote. If Len�er receives a payment from Borro�ver for a delinquent Period�c Payment which inc�udes a sufficient amount to pay any late charge due,the pa}�m�nt may be applie�t�the de�inquen�payment and the late charge.If more than one Peri�dic Payment is outstanding,Lender may apply any paymen�received fram Borrawer ta the repaymea�of the P�od�c Paymeats if,and to the�xtent that,each payment can be paid in fu��.T�the extent that any excess exists after th�payment i�applied ta the full payrnent of one or m�re Periadic Pa�ments,such excess may be applied�o any late charges due.Voluntary pr�payments shall b� applied first to any prepayment ch�.rges and then as described in the hTote. Any application of payments,insurance proceeds,ar Miscellaneous Proceeds to principal due under the Note shall not ex#ea�ar postpone the due date,or chaage the amount,of the P�riodic Payments. � �. Fundsfor Escraw�tems.Borrower sha11 pay to Lender oa the day Periodic Payrnents are due under the � " Alate,unti�the Note is paid in fu�t,a sum(the"Funds"}to provide for payment af amounts due for: (a)tax�s � � and assessments and other items which can attain priority over this Security Instrument as a Iiea or � ~ encumhrance on the Proper�y; �b}leaseh�ld payments or g�round rents on the Froper�y,if any;(e)prerniums far any and a�l insuran�e re�uired b�Lender und�r Section�;and(d}Mortgage Insurance pr�m�ums,if any, or any sums pa}�ab1e by Borrower to Lender in lieu of the payment of Mortgage Insurance prem�ums i� accardance with the pravisians of Section 1�,These items are called"EscrQ�I#ems."At originat�an ar at any time duriag the terrn of the Loan,Lender ma�require that Community Associa#ion DueS,FeeS,and Assessmen�s,if any,be escrowed by Barrower,and such du�s,fees and assessmen�s sha11 b�an Escraw Item.Borrower�ha11 promptly furnish to Lender all natices of amounts t�be paid under this Sectian. Borrower sha��pay L�nder the Funds f�r Escro�v Items un��ss Lender wa�ves�arrower's ob�igation to pay th�Funds for an�or a��Es�r�v��ems. Lender may�vaive Borrower's ob��gation to pa�to Lender Funds for any ar a11 E�c�row Items at any time.Any such waiver may only b�in wr�ting.In the e�ent of such waiver, Borrovver sha�l pay directl�,�vhen and where payable,the amounts due for any Escrow Items for�vhich payment of Funds has been waived by Lender and,if Lender requires, shall furnish to Lender receipts evidencing such payrnent within such time perio�i as Lender ma.y require.Barrower's obliga�i�n to make such payments and to provide receipts sha11 for a11 purpos�s be deemed to be a covenant and agreement contained i.n this Security instrument,a�th�phra�e "co�enant and agre�ment"is used in Section 9.If Borrower�s ob��gated to pay Escrow Items d�rectly,pursuant to a�uaiver,and Borrower fails to pay the amaunt due for an Escro�v Item,Lender may ex�rcise its r�ghts under�ectian 9 aad pay�uch amvunt and Borro�ver sha�l th�n be obligated under Section 9 to repay to Lender any such am�unt.Lender may re�oke the waiver as�o any ar a11 Escrow Items at any time�y a notice gi�en in ac�ordance with Sectian 15 and, upan such re�ocation,Borrower sha11 pay to Lend�r all Funds,and in such amaunts,that are then required under this Section 3. Lend�r may,a�any time,call�ct and h�td Funds in an amflunt(a}suffici�nt t�permit Lender td apply the Funds at the t�me specified under RESPA,and�b}not to e��eed the maxfmum arnaunt a�ender can require under RESPA. Lender sha�1 estimate the amoun#of Funds due on th�basis of curr�nt data an�i rea�onabl� est�mat�s of expenditures of future Escro�v Items or otherwise in accardance with Applicable Law. NE9RASI�A�ingle Family-Fannie MaelFr�ddie Ma�L1NIF�RM 1N�TRLIMENT VIIITH MERS F�rm 3�28 11�1 VMP� VMPBA[NE)�1342�_40 I�Ifolters Kluwer Financial Services Page 5 of 17 qo��ls�s��4 oz3� 41� os��