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2� 1 ��42 2. App�ication af Payments ar Pnviceeds. Except as o�herwise des�ribed in t�'lt5 5ection 2, all payments accepted and applied by Lender shail be app�ied in �he following order of priority: �a} interes� due under the Note; (b} prin�ipal due under the Na�e; (c} amounts due under Se��ion 3. Such payments shall be applied to ea�h Feriodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, se�ond to any other amounts due under th�s Security Instrument, and then to reduce the prin�ipai balance of the Note. If Lender recei�es a payment from Borrawer for a delinquent Periadic Payment which includes a suffi�ient amount tv pay any late charge due, the payment may be appl�ed �o the delinquent payment and �he late charge. If more than one Periodic Payment is outstanding, Lender may appty any payment recei�ed from Borrower ta the repayment of the Periodi� Payments if, and to the extent that, each payment can be pa�d in ful1. To the extent that any excess exists after �he payment is applied to the full payment of one or more Periodic Payments, such excess may be applied ta any �ate charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Nate. Any appli�ation of paymen�s, insurance pro�eeds, or Miscel�aneou� Proceeds to principal due under the Note sha11 not extend vr postpone the due date, or�hange the amount, of the Periodic Payments. 3. Funds f�r E�ro�w Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in fu11, a sum(the "Funds"}to pro�ide for paymen�of amounts due far; �a}taxes and assessments and other items which �an a�tain pri�rity a�er this Security Instrument as a Iien or encumbrance on the Praperty; (b} leasehold payments or ground rents on the Property, if any; (c}premiums for any and all insurance reQuired by Lender under Section 5; and(d} Mortgage �nsurance premiums, if any, or an.y sums payable by Borrower to Lender in l ieu of the payment of Mortgage Insuran�e premiums �n accordan�e wi�h the pro�isions of Section 10. These i�ems are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that �ommunity Association Dues, Fees, and Assessments, if any, be es�rowed by Borrower, and such dues, fees and assessments shal� be an Escrow Item. Borrower shal� promptly furnish to Lender al1 notic�s of amounts to be paid under �his Section. Borrower shal� pay Lender the Funds for Escraw items unless Lender wai�es Barrower's obtigatian to pay the Funds for any ar atl Escrow Items. Lender may wai�e Borrower's obligation to pay to Lender Funds for any or all Escraw Items at any time. Any su�h wai�er may only be in writing. In the e�ent of such wai�er, Borrower shall pay directly, when and where payab�e, �he amounts due for any Escrow Items for which payment of Funds has been wa��ed by Lender and, if Lender requires, shall furnish to Lender re�eipts e�idencing such payment within such time per�od as Lender may require. Borrower's obligation to mak� such payments and to pro�ide rec�ipts shall fvr all purposes be deemed to be a co�enant and agreement contained in �his 5ecurity Instrument, as the phrase "co�enant and agreement" is used in Se�tion 9. If Borrower is obliga�ed to pay Escrow Items directly, pursuant �o a waiver, and Barrower fails to pay the amount due for an Escrow Item, Lender may exercise its righ�s under 5ection 9 and pay such amaunt and Barrower shall then be obligated under Section 9 �o repay to Lender any su�h amouflt. Lender may re�vke the wai�er as to any or ail Escrow Items at any �ime �y a noti�e given in accordance with Secti�n 15 and, upan su�h re�ocation, Borrower sha1� pay to Lender all Funds, and in such amounts, �hat are then required under this Se�tion 3. Lender may, at any time, collect and ho�d Funds in an amount [a} sufficient tv permit Lender to appty the Funds at �he tirne specified under RESPA, and �b} not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amoun� of Funds due an the basis of curren� data and reasvnable estimates of expenditures of future Escrow Items or otherwise in a�cordan�e with Applicable Law. 00>>�a3s4o5s c+t�b�,k 3.2.�o�.��z NEBRASKA-Single Famiiy-Fannie MaelFreddie Mac UNIFDF�IA INSTRUMENT WITH MERS Form 3428 i I01 V�p� VMP6A�NEj{9 3�2}.00 Wolters Kluwer Fnancial 5ervices Page 5 of 17