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2� 17�2359 2. Application af Payments or Pr��eeds. Except as otherwise d�scribed in this Section 2, al� payments a�cepted and applied by Lender sha11 be applied in the foilowing order of priori�y: �a� �nterest due under the Note; �h}principal due under the Note; �c} amounts du�under Section 3. Such paymen�s shall be applied ta each Periodic Payment in the order �n whi�h it became due. Any remaining amounts shall be applied first to �ate charges, secand to any other amoun�s due und�r this Security �nstrument, and then to reduce the principal balance of the N o�e. If Lender recei�es a payment from Borrawer for a delinquent Periodic Payment which includes a sufficient amount to pay any la�e charge due, the payment may be applied to the delinquent payment and the la�e charge. If more than one P�riodic Fayment is outstanding, Lender may apply any payment recei�ed from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one ar more Periodic Payments, such excess may be appiied to any late charges due. Valuntary prepaymen�s sha11 be appiied first to any prepayment charges and then as described in the No�e. Any application af payments, insurance proceeds, or Miscellaneous Pro�eeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Per�ad��Payments. 3. Funds for Eserow ltems. Borrower shall pay to Lender on the day Periodic Paymen�s are due under the Nate, UI7t1I the NQ��i5�]a1C�1I7 fLl�l, a sum �the "Funds"}to provide for payment of amounts due for: (a�taxes and assessments and ather �tems which can atta�n priority over this 5ecurity Instrument as a lien or encumbrance on the Property; (b} leas�hald payments or ground rents on the Property, if any; �c}premiums for any and al� insurance reQuired by Lender under Sectivn 5; and�d�Mortgage Insurance premiums, if any, ar any sums payable by Barr�v�er to Lender in lieu of th�payment of Mortgage Insurance pr�miums in accordance with the pro�isions of Sectian �4. These items are called "Escrow Items." At originati�n ar at any time during the term of the Loan, Lender may require that�ommunity Association Dues, Fees, and Assessments, if any, be escrowed by Borrnw�r, and such dues, fees and assessments sha11 be an Escrow Item. Bvrrower shall promptly furn�sh to Lender a11 nvtices of amounts to be pa�d under this 5ection. Bvrrower shall pay Lender the Funds for Escr�w Items unless Lender wai�es Bvrrower's�bligativn to pay the Funds for any or all Escrow Items. Lender may waive Barrower's obligation�o pay to Lender Funds f�r any or all Escrow Items at any time. Any such wai�er may only be in vvriting. In the e�en�of such wai�er, Barr�wer sha�i pay directly, when and where payable, the amounts due far any Escr�vv �tems for which paymen�of Funds has been wai�ed by Lender and, if Lender requires, shall furnish to Lender re�eipts e�idencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to pro�ide receipts shall for al1 purposes be deemed ta be a covenant and agreemen� contained in�his Security instrument, as the phrase "co��nant and agreement" is used in Sectian 9. If B�rrower is obligated to pay Escrow Items d}rect�y, pursuant to a wai�er, and Borrower fails to pay the amvunt due for an Escraw Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under S�ction 9�o repay to Lender any such amoun�. Lender may re�oke the wai�er as�o any or all Escrow Items at any time by a notice gi�en in acCordanc�with Se�tivn 15 and, upon such re�ocation, Borro�ver shall pay to Lender all F unds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hald Funds in an am�unt�a) sufficient�o permit Lender to apply th� Funds at the�ime specified under RESPA, and�b}not to exceed the maximum amount a Iender can require under RESPA. Lender shali estimate the amvunt of Funds due on the hasis nf current data and reasonable estimates of expenditures of future Escrow I�ems or otherwise in accordance with Appli�able Law. �s�s�4o NEBRASKA-5+ngle Fam i1y-Fannie M ael�reddie M a�UN�FQRM INSTRLIM ENT WITH M ERS Form 3��8 110� VMP Q VMPSA{NE}(1302} Walters lCluwer Financial Services Page 5 of 17