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2� 17� 1775
<br /> UN�F�AM ��VENANTS. Borrower and Lender co�enant and agree as follows:
<br /> 1. Payment of Pr�nc�pal, Intere5t, EScrow Items, Prepayment Charges, and Late Charge5. Borrower
<br /> shall pay when due the principa� of, and interest on, the debt e�idenced by the Note and any ����aym�nt
<br /> charges and iate charges due under the Note. Borrower shaii aiso pay funds for Escrow Items pursuant to
<br /> Section 3. Payments due under the Note and th�s Security rnstrument shall be made in U.S. currency.
<br /> Howe�er, if any check or other instrument rece��ed by Lender as payment under the Note or th�s Security
<br /> �nstrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under
<br /> the Note and th�s Security rnstrument be made in one or more of the foiiowing forms, as selected by Lender:
<br /> �a} cash; �b} money order; �c} cer�ified check, bank check, treasurer's check or cashier's check, pro�ided any
<br /> such check is drav�n upon an inst�tution whose deposits are insured by a federal agency, instrumentality, or
<br /> en��ty;or�d}Electronic Funds Transfer.
<br /> Payments are deemed recei�ed by Lender v�hen recei�ed at the location des�gnated in the Note or at such
<br /> other �ocation as may be designated by Lender in accordance with the notice pro�is�ons in Sect�on �S. Lender
<br /> may return any payment or par��al payment if the payment or par�ial payments are insufficient to bring the
<br /> Loan current. Lender may accept any �aym�nt or par�iai payment insuff�cient to bring the Loan current,
<br /> v�ithout wai�er of any rights hereunder or prejudice to its rights to refuse such payment or par�ial payments in
<br /> the future, but Lender is not ob ligated to appiy such payments at the time such payments are accepted. Zf each
<br /> Periodic Payment is applied as of its scheduied due date, then Lender need not pay interest on unapp�ied
<br /> funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. Zf
<br /> Borrower does not do so within a reasonabie per�od of time, Lender sha�� either appiy such funds or return
<br /> them to Borrower. Zf not applied earlier, such funds will be appl�ed to the outstanding pr�ncipai baiance under
<br /> the Note immediately prior to foreclosure. No offset or claim which Borrower might ha�e now or in the
<br /> future against Lender shall rel�e�e Borrower from mak�ng payments due under the Note and this Security
<br /> �nstrument or performing the co�enants and agreements secured by this Security Instrument.
<br /> 2. Application of Paymen�5 or Proceeds. Except as otherv�ise described in this Section 2, all payments
<br /> accepted and app lied by Lender shall be applied in the follov�ing order of priority: �a} interest due under the
<br /> Note; �b} pr�nc�pal due under the Note; �c} amounts due under Sect�on 3. Such payments shall be app��ed to
<br /> each Per�od�c Payment �n the order in which i� became due. Any rema�ning amoun�s shall be applied first to
<br /> late charges, second to any other amounts due under this Secur�ty �nstrument, and then to reduce the principai
<br /> ba�ance of the Note.
<br /> Zf Lender recei�es a payment from Borrov�er for a deiinquent Period�c Payment v�hich includes a sufficient
<br /> amount to pay any late charge due, the payment may be appiied to the delinquent payment and the late charge.
<br /> rf more than one Periodic Payment is outstanding, Lender may apply any payment recei�ed from Borrov�er to
<br /> the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the
<br /> extent that any excess ex�sts after the payment is appl�ed to the fu�l payment of one or more Periodic
<br /> Payments, such excess may be app�ied to any late charges due. Voluntary prepayments shaii be appiied first to
<br /> any prepayment charges and then as described in the Note.
<br /> Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the
<br /> Note shall not extend or postpone the due date,or change the amount,of the Periodic Payments.
<br /> 3. Funds for EScrow Items. Borrov�er shall pay to Lender on the day Periodic Payments are due under
<br /> the Note, unti� the Note is paid in ful�, a sum �the "Funds"} to pro�ide for payment of amounts due for: �a}
<br /> taxes and assessments and other items which can attain priority o�er th�s Security �nstrument as a �ien or
<br /> encumbrance on the Property; �b} �easehold payments or ground rents on the Property, if any; �c} premiums
<br /> for any and all �nsurance required by Lender under Section S; and �d} Mor�gage Insurance premiums, if any,
<br /> or any sums payable by Borrower to Lender in lieu of the payment of Mor�gage Insurance premiums in
<br /> accordance with the pro�isions of Section ��. These �tems are called "Escrow Ztems." At origination or at
<br /> any time during the term of the Loan, Lender may require that �ommunity Association Dues, Fees, and
<br /> Assessments, �f any, be escrowed by Borrower, and such dues, fees and assessments sha�l be an Escrow Item.
<br /> Borrower shall promptly furnish to Lender all not�ces of amounts to be paid under this Section. Borrov�er
<br /> shail pay Lender the Funds for Escrow Items unless Lender wai�es Borrower's obiigation to pay the Funds for
<br /> any ar all Escraw Items. Lender may waive Barrawer's abligatian ta pay ta Lender Funds far any ar all
<br /> Escrow Ztems at any t�me. Any such wai�er may only be in writing. In the e�ent of such wai�er, Borrower
<br /> shail pay directiy, when and where payable, the amounts due for any Escrow �tems for which payment of
<br /> Funds has been wa��ed by Lender and, if Lender requires, shail furnish to Lender rece�pts e��dencing such
<br /> payment within such time period as Lender may requ�re. Borrower's obligation to make such payments and to
<br /> NEBRASKA-Single Family -FannieNiaelFreddieNiac UNIF�RM INSTRUNiENT
<br /> Form 3�28'll�'I
<br /> Laser Farms]nc.(8DD}446-3555
<br /> LFI#FNMA3D28 91�� Page�of 13 �n��ials:
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