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��1 5�67�� 2. Application af Payments or Praceeds.Except as otherwise described in this Se�tion Z,aIi payments accepted and applied hy Lender shall be applied in the fol�owing�rder of priority: (a}interest du�under th� Note; �b}principal due under th�Note; (c}arnounts due under 5ection 3. Such payments shall be applied to each Periodic Paym�nt in the order in which it�ecarne due. Any remaining amounts shall b�applied fir�t to late char�es, second ta an�ath�r amounts due under this 5ecurity Instxument, and th�n to reduce the principal balanc�of the N�t�. • If Lend�r receives a payment from B�rrow�r far a�ielinquen�P�riodic Payment which includ�s a suff'zcient amflunt t�pay any late�harge due, the payment may be app�ied to th�de��nquent pa�ment and the late charge. If more than on�Peri�dic Payment is outstanding, Lender rnay apply any payment recei�ed from Borrower to the repayment of the Peri�dic Payments if, and to the extent that,each payment can be paid in full. To the extent that any exc�ss�xists after the paymen�is applied to�h�full payment of one�r more Periodic Payments, such excess may be applied to any late charges du�. Valuntary prepayments shall be applied firs�to any prepayment charges and then as described in the Nate, Any app�ication of payments,insurance proceeds, ar M�5ce11aneous Pr�ceeds�o principai due under the l�ote sha11 not extend or postpone the due date, or change the amount,of the Periodic Payments. 3. Funds fvr Es�r�w Items. Barrower shall pay to Lender an the day Periodic Payments are due und�r the No�e,until the Note is paid in full, a sum(the "Funds"}ta provide for payment of amvunts due for: �a�taxes and as�essments and��her items which can attain priority a�er this Security In�trument as a lien ur encumbrance on the Property; �b}leasehold payments or graund rents on the Property,if any;�c}premiums for any and all insurance required by Lender under 5ection 5; and�d}Mortgage Insurance premiums,if any, ar any sums payable by Sorro�er to Lender in lieu of the payment of Mvr�gage Insurance premiums�n accordance with�he pr�vision��f Sec�ion �4. These it�ms are ca��ed "�scrov�Iterns."At originati�n�r a� any time during the term af the Loan,Lender may require that Community As�ociat�on Dues,Fees, and As�essments,if any,be escrowed by Borrower, and such dues,fees and as�essments shall be an Escrow Item. Borrower sha11 promptly furnish to Lend�r all notices�f arnoun�s��be paid under this Sectian. Box-row�r shall pay Lender the Funds for Escrow It�ms unless Lender wai�es Barrower's obligation to pay the Funds fvr any�r a11 Escrow Items. Lender may waive Borrow�r's abligation to pay to Lender Fund�for any or a�l Escrow I�ems at any time, Any such wai�er may oniy b�in writing. In the event of such wai�er, Borrower shall pay directiy, when and where payable,the amounts due for any Escraw Items for which pa�ment of Funds has been waived by Lender and, if Lender requires, sha11 furnish to Lender receipts e�id�ncing�uch payment w�th�n such time period as Lend�r may r��uire. Borrower's obligation to make such payments and to provide receip�s shall for all�urposes be deemed to be a co�enant and agreement contained in this 5ecurity Instrument, as th�phrase "�o�enant and agre�ment"is used in Section 9.If Borrower is obligated to pay Escrow Items directl�,pursuant ta a wai�er,and Borr�wer fails to pay the amount due for an Escrow Item,Lend�r may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may rev�ke the wai�er as to any or all Es�row It�ms at any time by a nv�ice given in accordance with Section I5 and, upan such re�ocation,Borrower sha.l�pay ta Lender a11 Funds,and in such amvunts,that are then required under this Section 3. Lender rnay,at any tim�, collect and haid Funds in an amount�a}suf�cient�a perrnit Lender to app�y the Funds at the time specified under RESPA, and�b}not��exceed the maximum amount a�ender can require under RESPA. Lender sha�l e�timate the amaunt of Funds due on the basis af curr�nt data and reasonable estimates of�xpenditures of future Escrow Items or otherwise in accordance with Applicable Law. 159�65753 4a9�10�744 NEBRR5ILA-5ingla Family-Fanni�MaelFreddie Mac U�EIFQRM INSTRUMENT WI�H MERS Fcrm 5028 11�1 VMP C� VMPSA�NE)�1302�.�0 Woltars I{iuwer Fir�an�ial Services Page 5 v 17