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' 2� 1 �� 185� �
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<br /> L�AN#: 'I��D5l5T'!
<br /> �. Applicat��n of Paymen#�s or Proc��ds. Except as otherwise described in th�s Section �, all
<br /> payments accepted and ap�lied by Lender shall b�ap��ied in�he fof�owing ard�r v�priority: �a} intere�t
<br /> due under the Nate; �b��rincipal due under the N�te; �c}am�unts due unde�Section 3. Su�h payments
<br /> shali b�ap�lied to each Peri�dic Payment in the�rder in wh�ch it f��came due.Any remaining amaunt�
<br /> shall �e appii�d first tv late charg�s, �ecand to ar�y other amounts due under this Securit}I Instrum�nt,
<br /> and #hen �o reduce the principal I�alance af the Not�. ,
<br /> If Lend�r r�ceives a payment f�om g�rrower for a delinqu�nt Periodic Paym�nt `►vhi�h includes a
<br /> suf�i���nt amount to pay any lat�Gharg�due,th��vaymen�may be app�ied ta th�delinquen#paymen�and
<br /> #he lafie charge.lf m�re than ane Per�adic F'aym�nt is outstanding,L�nder may appiy any paymer�t r�ceived
<br /> from Borrawer#�the�epaymer��af the Periadic Payments�f, an�#o the exten#�hat, ea�h p�yment can ��
<br /> paid in full.To the ex��nt that any exce��exists after�he paym�nt is applied t��he full payment of�ne ar
<br /> mare P�r�odic Pa�Im�nt�, such exces� may ��a�plied�o an�la�e charges due.Volun�ary �re�aym����
<br /> shall be app�i�d first�a an� pr�payment ch�rges and �hen as descr�bed �n �he IVat�. �
<br /> Any appli�ation flf payrr�en�s,insuran��proce�ds,�r Misc�llar�eous Proce��s�o princi�al due un�er
<br /> the Note s�alf nat extend vr postpone th�due date, �r change the amou�#, af�h�� Per�adic Paymenfis. ,
<br /> 3. Funds f�r Escro�r�tem�. Borrower sh��l pa��v L�nder on the d�y Periodic Paym�nts are due �
<br /> und�r�h�Note, un��l the fVote is paid in full, a sum�the"Funds"}ta provide for paym�nt of amaunts due
<br /> for: �a}tax�s and assessments�nd ather iterns which can attain privr�t}��ver�his Security Instrument as
<br /> a li�n �r encumbrance an#he Pr�perky; ��} leaseh�ld payments or gr�und rents�n th� Properky, if any;
<br /> �c}pr�miums�or any and ali insuran��r�q�aired by Lend�r under�ect�on 5; and ��}M�rtg�ge Insuranc�
<br /> prem�ums,�f any,�rany sums payabf�by Borrow�rto Lend�r in lieu ofthe paymentof Mortgage Insurance
<br /> pr�miums in accardanc�with the provisi�ns of S�c��on 1�. These items are ca�led "Esc�Qw �tems."At
<br /> or�gination ar at any time dur�ng the term of the L�an, Lend�r may require�hat�ommunity Assoc�ation '
<br /> ❑ues, Fe�s, and Assessments, �f any, b�escrowed by B�rrower, and such dues,fe�s and assessments
<br /> sha�l b�an Escrow�tem.Borrawer sha!!promp�ly furni�h to L�nder aii notices of am�unts to b�paid und�r ;
<br /> this Secti�n. Barrawer shall pay Lender t�e Fund$ for Escrow It�ms unless L�nd�r wa�ves E��rrower's
<br /> obliga�ian to pay the Fund�for any o�al� E�crow Items. Lender may►nrai�� Bar�ower's obli�ati�n to pay
<br /> �� L�nd�r Funds far any or all Esc�vw I��ms at any�ime.Any such wa�ver may only be in writing. In�he
<br /> e�en� of�uch wa�ver, Bflrrower sha�l pay directly, wh�n and where payab�e, the amounts due f�r any
<br /> Escrvw �t�ms for which payment of Funds ha� been waiv�d by L�nder and, �f L�nd�r requir�s, shall
<br /> furn�sh to L�nder rec�ipts evid�n�ing such payment within such tim� periad as Lender may r�quire.
<br /> Borrawer's obligativr�t�mak�such pa�ments and to prvvide receipts shall for a�l purp���s ��d�er�ned
<br /> t� be a cov�nant �nd agre�ment cont��ned in �his Secur�ty �nstrumen�, as the phra�e "co�enant and �
<br /> agr��m�nt" 'rs used in ��c�ion �. If Borrower �s �bliga��d #o pay Escraw Items dire�tl�, pur�uan� to a
<br /> �raiver, �nd B�rr�v�rer�ails ta �ay the amoun� du� for an E�cr�►nr ft�m, Lender may exe�cise ��s rights �
<br /> under Sectivn 9 and pa� such amount and Borrawer sha�l �hen be obligat�d under S�ction � ta re�aa�
<br /> to Lender an�such am�un�. L�nd�r may re�oke the�aiver as ta any ar all Es�rov►►Items�t any time b�y �
<br /> a no�ic�g�v�n �n accardance with Section �5 and, upon such r���ca�ian, B�rrower shall pay ta Lend�r ;
<br /> a!! Funds, and in such amounts, that ar�th�n r�quired under th�s Secti�n 3. ,
<br /> Lender may, atany time,coll�ctand h�id Funds in an amoun��a}suffiicientto p�rmit Ler�dert�apply
<br /> the Funds at the t�m�sp�Gifi�d und�r RESPA, and �b}nat to exc�ed the maximum amaunt a lender can �
<br /> require under RESPA. Lend�r sha�l�s��mate th�arn�unt of Funds due an th�basi�o�curren�data and ;
<br /> reasonable estimates af expenditures of fu�ure Escr�w Items vr oth�rwise�n accordance with Applicable �
<br /> Law. �
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<br /> The Fun�s shall be hei�in an institu#ion�rvhose deposi�s a��in�u�ed hy a federal agency,inst�um�ntali�y, !
<br /> �r entity �including L�nder, if Lender is an institu#ian �vhase deposits ar� so insured} or in any Fed�r�i �
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<br /> Home Loan Bank. Lender shalE apply the Fund�to pay th�Escrow I�ems n�lat�r th�n�he tim�speci��ed �
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<br /> under RESPA. Lender shall no�charge Borraw�r for halding and appiy�ng#he Funds, annually ana�yzing �
<br /> the escrow a�count, ar�er�fying�h� Escrow Items, unless L�nder pays B�rrower intere�t on�he Funds ,
<br /> and Appl�cab�� Lav�p�rm��s L�nd�r to mak�such a charge. Unless an agreem�nt is made �n wr�ting or �
<br /> Appi�cable Law requires in�erest�o be paid on the Funds, Lender shal! not be r�quired t�pay Borr�wer �
<br /> an}�int�restorearning�on the Funds. B�rraw�rand L�n�ercan agr�e ir�wr�tin�, how�v�r,that int�re�� �
<br /> shall be pa�d on the Funds. Lender shall g�v�to Bvrrov�►�r, with�u#�harge, an annuai accounting of the '
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<br /> Funds as requir�d by RESPA. '
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<br /> tf�here is a surplus of Funds h�ld in escrvw, as defii�ed und�r RESPA, Lend�r sha�� a�caun� �o �
<br /> Borrow�r far�he exc�ss funds in ac�ordanc�v�ith RESPA. If t�ere is a shartage af Fun�s heid in�scrow,
<br /> asdefined underRESPA, Lendershall nat�f�1 E3or�owe�as r�quired by RESPA,and Bo�rnvversh�ll p�yto
<br /> Lender�he amount n�cessary to make up the shortag�in accordance with RESRA, but in n�mar�than
<br /> �� manthly payments. 1f there is a de�ici�ney of Funds held in escr�w, as defined under RE�PA, Lend�r
<br /> shali n�t�fy Borro�n►er as r�qu�red by RE�F'A, and Borraw�r shall pay t� Lender th� amoun� n�c�ssary �
<br /> to make up the de#i�i�ncy in �cc�rdance with RESPA, hut in no more than 12 manth�y payments.
<br /> Up�n payment in full of all sums s�cure� by this Security Instrum�nt, L�nder shali prvmptly r�fund
<br /> ta Borrawer any Funds held loy Lender.
<br /> 4. �harges; L�ens. B�rrower shall pay ail �axes, ass�ssments, charges, fin�s, and impositions
<br /> at#ributabl�to the Property which cart attain priori#y �ver this Securrty Instrumen�, �ease I� payme ts
<br /> �nitials:
<br /> NEBRASKA--Single Famify--Fann�e i�IlaelFreddie Mac UNIFQRM�NSTRUAAENT Form 3�2H 11�1
<br /> Ellie Mae, Inc. Pag�4 of 11 NEEC3EED �3��
<br /> NEEDEED�CLS}
<br /> �212912�15�2:�C PM PST
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