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201905187
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments
<br />accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note;
<br />and (b) principal due under the Note. Such payments shall be applied to each Periodic Payment in the order in which
<br />it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under
<br />this Security Instrument, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient
<br />amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If
<br />more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the
<br />repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that
<br />any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may
<br />be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then
<br />as described in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note
<br />shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Reserved.
<br />4. Charges; Liens. Borrower shall perform all of Borrower' s obligations under any mortgage, deed of
<br />trust, or other security instrument that is a lien having priority over this Security Instrument. Borrower shall pay all
<br />taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this
<br />Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues,
<br />Fees, and Assessments, if any.
<br />Except for a lien Borrower disclosed to Lender in Borrower' s application or in any title report Lender
<br />obtained, Borrower shall promptly discharge any lien which has priority over this Security Instrument unless
<br />Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender,
<br />but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against
<br />enforcement of the lien in, legal proceedings which in Lender' s opinion operate to prevent the enforcement of the lien
<br />while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder
<br />of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender
<br />determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument,
<br />Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given,
<br />Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4.
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting
<br />service used by Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the
<br />Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards
<br />including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be
<br />maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender
<br />requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing
<br />the insurance shall be chosen by Borrower subject to Lender' s right to disapprove Borrower' s choice, which right shall
<br />not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-
<br />time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone
<br />determination and certification services and subsequent charges each time remappings or similar changes occur which
<br />reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of
<br />any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone
<br />determination resulting from an objection by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage,
<br />at Lender' s option and Borrower' s expense. Lender is under no obligation to purchase any particular type or amount
<br />of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower' s
<br />equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater
<br />or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so
<br />NEBRASKA SECOND LIEN DEED OF TRUST
<br />© 2008 DOCMAGIC, INC.
<br />NESEC.DOT 08/10/12
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