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202000399 <br />2. Application of Payments or Proceeds. Except as otherwise described in this Section, all <br />payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due <br />under the Note; (b) principal due under the Note; (c) amounts due under other provisions of the Security <br />Instrument. Such payments shall be applied to each Periodic Payment in the order in which it became due <br />under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a <br />payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late <br />charge due, the payment may be applied to delinquent payment and the late charge. If more than Periodic <br />Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the <br />Periodic Payment if, and to the extent that, each payment can be paid in full. To the extent that any excess <br />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 <br />and then as described in the Note. <br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under <br />the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. <br />3. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions <br />attributable to the Property which can attain priority over this Security Instrument, leasehold payments or <br />ground rents on the Property, if any and Community Association Dues, Fees, and Assessments, if any. <br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: <br />(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 <br />against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the <br />enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; <br />or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this <br />Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain <br />priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days <br />of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set <br />forth above in this Section. <br />Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or <br />reporting service used by Lender in connection with this Loan. <br />4. Property Insurance. Borrower shall keep the improvements now existing or hereafter <br />erected on the Property insured against loss by fire, hazards included within the term "extended coverage," <br />and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires <br />insurance. This insurance shall be maintained in the amounts ( including deductible levels) and for the periods <br />that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term <br />of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's <br />right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require <br />Borrower to pay, in connection with this Loan, either: (a) a one-time charge fro flood zone determination and <br />certification and tracking services; or (b) a one -time charge for flood zone determination and certification <br />services and subsequent charges each time remappings or similar changes occur which reasonably might <br />affect such determination or certification. Borrower shall also be responsible for the payment of any fees <br />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 <br />coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any <br />particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not <br />protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard <br />or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges <br />Deed of Trust and Security Agreement (NE) Page 4 <br />