|
2� 1 ���225
<br /> LC]A N #: �'I'1 fi8Q78
<br /> 2. Appli�ation of Payments or Proceeds. Except as oth�rwise described En this 5ection �, all
<br /> payments accept�d and applied by Lende�shall be appiied in th�f�l�owing order��priority: �a} in�eres�
<br /> due under th�Note; �b}principal due under the Note; �c}amounts due under Se�tion 3. �uch payments
<br /> shall be applred to each Pe�iodic Payment in the order in which it became due.Any remaining amoun�s
<br /> shall be applied first�o �ate charges, s�cvnd �o any other amounts due under this 5ecurity �ns#rumen#,
<br /> and then to reduce the principal �a�ance af the Nate.
<br /> If Lender re�ei�es a payment from Borrower for a d�linquent Periadic Payment which includes a
<br /> sufficient amount#o pay any lat�charge due,the payment may be applied to the delin�uent payment and
<br /> #he�ate charge.If marethan one Periodic Payment is outstanding,Lender may apply any payment received
<br /> f�om Barrawer to the repayment of the Periodic Payrnents if, and t�the extent that, each paymen#can�e
<br /> �aid in full.To th��xtent that any ex�ess exis�s afterthe payment is app�ied to the ful!payment o�one or
<br /> mare Periodic Payments, such excess may be applied to any late charges du�. Voiuntary prepayments
<br /> shall be applied first t�any prepayment charges and th�n as described in the Note.
<br /> Any application of paym�nts, insu�anc�proceeds,or Miscel�aneous Proce�ds to principal du�under
<br /> the Note shall not extend �r pastpan�the due dat�, or change the amaunt, of the Per�odic Payments.
<br /> 3. Funds fvr Escrv►n►Items. Barrower shall pay to Lend�r on the day Per�vdic�'ayments ar�due
<br /> under th�N�te, until the Nvfe is paid in full, a sum �the"Funds"}to provide for paymenf of amounts due
<br /> �or: �a}taxes and assessments and other it�ms which can attain prior�ty o�er�his 5ecuri#y Instrumen�as
<br /> a lien or�ncum�ranc�on the Property; �b} ��asehold payments�r ground rents on the Property, if any;
<br /> �c}premiums for any and all insurance requEred by Lender under 5�ction 5; and �d} Mortgage Insurance
<br /> premiums,if any,a�any sums payable by Borrower to Lender in I�eu af the payment of Mortgage I nsuran�e
<br /> �r�miums in accordanc� w��h the prv�isions of Section 1�. Th�se i�ems are called "Escrow �tems."At
<br /> originativn or at any time during the term of the Loan, Lender may requir�that�ommunity Association
<br /> Du�s, Fees,and Ass�ssments, if any, be escraw�d by Borrvwer,and such dues,fees and assessments
<br /> shali be an Escraw item.Borrower sha�l promptiy furnish t�Lende�all notic�s v�amoun�s to be paid under
<br /> this Section. Sarrvwer shal� pay Lender th� Funds for Escrow Items un��ss Lender waiv�s �vrrowet�'s
<br /> obligafion to pay the Funds for any or afl Escrow�tems. Lender may waive�orrower's obligation to pay
<br /> ta Lend�r Funds far any ar a!I Escrow It�ms at any time.Any su�h wai�er may only b� in writing. In th�
<br /> e�ent of such wai�er, Borrower shall pay d�rectiy, wh�n and wher� payable, the amounts due for any
<br /> Escr�w Items for whi�h payment of Funds has been wa�ved by Lender and, if Lender requires, shail
<br /> furnish to Lender receipts ��idencing su�h payment w�thin such time p�riod as Lender may r�quire.
<br /> Bvrrower's obligation to make such payments and to pro�ide r�c�ipts sha�l for all purposes be deemed
<br /> to be a cvvenant and agreement �ontained in this Security Instrument, as the phrase "co�enant and
<br /> agreement" is used in Section 9. If Borrower is obfigat�d to pay Escrvw Items d�rectly, pursuant ta a
<br /> wai��r, and Borrower�ai�s to pay the amount �ue far an Escrow I�em, L�nder may ex�rcise its rights
<br /> unde�Section 9 and pay such amaunt and Borrower shall then be obligated under 5ection 9 to repay
<br /> to Lende�any such amount. Lender may re�vke�he wai�er as to any or all Escraw Items a�any time by
<br /> a nati�e gi�en in aecordance with Section �5 and, upon such re�o�ation, Sarrvwer shall pay tv Lender
<br /> a!I Funds, and in such amount�, that are then require� under this Section 3.
<br /> Lend�r may,at any time,coilect and ho�d Funds tn an amvunt�a}suffic�ent ta perm�t Lender�o apply
<br /> the Funds at the time specif�ed under RESPA, and �b} n�t ta exceed the maximum amount a lender can
<br /> require under RESPA. Len�er shal�estimate the amount vf Funds due on �he basis of current data and
<br /> reasflnable�stimates of expenditures a�future Esc�vw�tems�rotherwtse in accordance withApplfcabEe
<br /> Law. �
<br /> The Funds shall be held in an�nstituti�n whose deposits ar�insured by a federal agency,instrumentality,
<br /> or entity �including Lender, if Lender is an institution whose deposits are sa insured} or in any Federal
<br /> Home Loan Bank. Lender shal�a�ply the Funds tv pay the Escrow Items na later�han�he time specified
<br /> under RESPA. L�nder shall nat charge Barrower for hoiding and applying�h�Funds, annualiy ana�y�ing
<br /> the escrow account, or�erifying th�Escraw Items, uniess Lender pays Borrawer interest on the Funds
<br /> and Applicable Law permits Lend�r to mak� such a charg�. Un�ess an agr��ment is made in writing or
<br /> Applicable Law requires interest to be paid an�he Funds, Lender sha�l not be required#o pay Barrovuer
<br /> any interest or earnings on the Funds. Barrflwer and L�nder can agree in writing, hawe�er, �ha#interest
<br /> shall be paid on�he Funds. L�nd�r shal� gi�e to Bv�rawer, without charge, an annual accaunting �f the
<br /> Funds as required by RESPA.
<br /> If there is a surplus of Funds held in escrow, as defined under RESPA, Lend�r sha11 account tv
<br /> Borrow�r for th�excess funds in accordanc�w�th RESPA. If th�re is a shortage of Funds held in escrow,
<br /> as d�fined under RESPA, Lender sha��notify Borrower as required by RESPA,and Barrawer shall pay to
<br /> Lender�h�amount necessary t�make up the shortage in accar�ance w�th RESPA, but in no mor�than
<br /> '�2 monthiy payments. If there is a de�iciency of Funds h�ld in escrow, as defined under RESPA, Lender
<br /> shall notify Borrower as requi�ed by RESPA, and Borrower shall pay to L�nder the amaunt nec�ssary
<br /> to mak� up the deficiency in accordance w�th RESPA, bu# in no mnre than 1� monthly payments.
<br /> Upon payment in fuii of all sums secured by this Security fnstrument, L�nder shalf promp�ly refund
<br /> to Borrower any Funds h�i� by L�nder.
<br /> 4. �harges; Liens. Bo�rower shal� pay all taxes, assessments, charges, fines, and impos�#ions
<br /> attributable to the Praperty which can attain priority o�er�his Secu�i#y Instrument, leas�hold payments
<br /> NEBRASKA--Single Fa�mily--Fannie MaelFreddie Mac UNIF�RM INSTRLlIVIENT Form 3��8'!10'I
<br /> Ellie Mae,Inc. Page 4 of�1 NEEDEED Q3�5
<br /> NEEDEED{CLS}
<br /> 08119l2�'1 fi 12:25 PM PST
<br /> �.� �. . �
<br /> .
<br /> .
<br /> .
<br /> � r
<br /> � �
<br /> rN ��
<br /> �■ a
<br />
|