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2� 17� 1289 �. Appl�cationof Payments or Proceeds.Exc�pt as expressly stated othervvis�in this Security Instrument or the Note,a�l pa�ments accepted and applied by Lender sha��be applied in the fol�awing order of priority; First,to the Mor�gage�nsurance premiums to be paid by L�nder to the Secretary or the rnonthly charge by the Secretary instead of the monthly mortgage insurance premiums; Second,to any taxes, specia�assessments,leasehold payments or ground rents,and fire,fload and other hazard insurance pr�miums,as required; Third,to interest due under th�I�Tote; Fourth,to amortization af the principal of the Note;and, Fif�h,to late charges du�under the No�e. Any appli�ation of payments, in.surance�roceeds,or Miscellaneous Proce�ds to principal due under th� Nate sha�l nflt extend or postpane the due date,vr change the amount,of the Periodic payments. 3. Fundsfvr Escrow[tems.Borrawer shall pay ta Lender on�he day Periadic Payments are due under the No�e,unti�the N�te is paid in ful1,a sum(the "Funds"}t�provide for payment of amounts due for; (a)taxes and assessments and other items tivhich cara attain priarity aver this Security Instrument as a�ien or encumbrance on the Property;(b}leasehold payments ar ground rents on th�Property}if any;(c} premiums for any and a11 insurance required by Lender under Sec�ion S;and�d)Mar�gage Insurance premiums ta be paid by Lender to the Secretary or the monthly charge by the 5�cr�tary inst�ad of the monthly Mortgag�Insurance premiums.These items are called"Escrow Items."At originatian or at any time during the term of the Loan,Lender may require that Community Assaciation Dues,Fees,and Assessmen�s, if any,be escrowed by Borrower,and such dues, fees and asses�ments shall be an Escraw Ytem. Borrower shall promptty furnish t�Lender all notices of amounts to be paid under this Section, Borrower sha�l pay Lender the Funds for Es�row Iterns unless Lender waives Borrower's obligation to pay the Funds for any or a�l Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or a11 Escrow Iterns at any time.Any such wai�rer may only be in writing.In the e�ent of such waiver,Borro�ver sha�l pay direct�y,when and where payable,the amounts due for any Escrow Items for t�hich payment of Funds has been waived by Lender aad,if Lender requires,shal�furnish to Lender receipts e�idencing such payment within such time period as Lender may require. Barrower's obliga�ion to make such paymea�s and to pro�ide receipts shall for a1�purp�ses be deemed to be a co�enant and agreement contained in�his Security Inst�ument,as the phrase"c�venant and agreement"is u�ed in Section 9. If Borrawer is abligated to pay Es�raw Items�irectly,pursuant to a waiver,and Borrawer fails to pay the amount due f�r an Escrow Item,Lender may exercise its rights under Se�tion 9 and pay such amount and Barrower sha�l�hen be obligat�d under Seeti�n 9 tt�regay to Lender any such amount.Lender may rev�ke the wai�er as to any or a11 Es�row Items at any time by a na�ice given in accordance with Section 1�and,upon such re�ocation,Borrower sha11 pay�o Lender all Funds,and in such amaun�s,that are th�n required under this Se�tion 3, Lender rnay,at any time,c�l�ect and hold Funds in an amount(a}suff�cient ta perrnit Lender to apply the Funds at the time spe�ified under RESPA, and(b}not to exceed the maximum amount a lender ean require . under RESPA. Lender shalt estimate the amount of Funds due�n the basis of current data and reasonable estimates of expenditures of fu�ure Escrow Items ar otherwise in accordan�e wi�h Applicable Law. FHA Deed vf Trust With MERS-NE 9/34/2414 Bankers System�TM� VMP� VMP4N[NE}[i5�B�.04 Walters Kluwer Finat�cia�Services Page 5 af 47 qa3374345338 ��3 79 4517