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until Borrower makes payment to bring the Loan current. If Borrower does not do so within a time, Lender shall either apply such funds or return them to Borrower. If not applied earlie applied to the outstanding principal balance under the Note immediately prior to foreclosure which Borrower might have now or in the future against Lender shall relieve Borrower from under the Note and this Security Instrument or performing the covenants and agreements sec Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Se accepted and applied by Lender shall be applied in the following order of priority: (a) interes (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be ap Payment in the order in which it became due. Any remaining amounts shall be applied first t to any other amounts due under this Security Instrument, and then to reduce the principal bal If Lender receives a payment from Borrower for a delinquent Periodic Payment which amount to pay any late charge due, the payment may be applied to the delinquent payment more than one Periodic Payment is outstanding, Lender may apply any payment received repayment of the Periodic Payments if, and to the extent that, each payment can be paid in fu any excess exists after the payment is applied to the full payment of one or more Periodic Paym be applied to any late charges due. Voluntary prepayments shall be applied first to any prepa as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to princip shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Paym Note, until the Note is paid in full, a sum (the "Funds ") to provide for payment of amounts assessments and other items which can attain priority over this Security Instrument as a lien o Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the pro These items are called "Escrow Items." At origination or at any time during the term of the Lo that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lende obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower' s oblig Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evi within such time period as Lender may require. Borrower' s obligation to make such payments shall for all purposes be deemed to be a covenant and agreement contained in this Security Ins "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Item a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise it 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Len Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in ac 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Len at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can r Lender shall estimate the amount of Funds due on the basis of current data and reasonable esti of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agenc entity (including Lender, if Lender is an institution whose deposits are so insured) or in an Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified NEBRASKA — Single Family -- Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Forth 3028 1/01 Page 4 of 14 • • 01703445 reasonable period of , such funds will be No offset or claim aking payments due ed by this Security tion 2, all payments due under the Note; lied to each Periodic late charges, second nce of the Note. includes a sufficient d the late charge. If om Borrower to the 1. To the extent that nts, such excess may ent charges and then 1 due under the Note nts are due under the ue for: (a) taxes and encumbrance on the y and all insurance payable by Borrower isions of Section 10. Lender may require d such dues, fees and f amounts to be paid waives Borrower' s tion to pay to Lender event of such waiver, or which payment of encing such payment d to provide receipts ument, as the phrase directly, pursuant to rights under Section er any such amount. ordance with Section hat are then required er to apply the Funds quire under RESPA. ates of expenditures , instrumentality, or Federal Home Loan der RESPA. Lender DocMaglc www. docmagic. com