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102101553
<br />LOAN #: 1111108103
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all
<br />payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest
<br />due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments
<br />shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts
<br />shall be applied first to late charges, second to any other amounts due under this Security Instrument,
<br />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
<br />sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and
<br />the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received
<br />from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be
<br />paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or
<br />more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments
<br />shall be applied first to any prepayment charges 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. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due
<br />under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due
<br />for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as
<br />a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any;
<br />(c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance
<br />premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance
<br />premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At
<br />origination or at any time during the term of the Loan, Lender may require that Community Association
<br />Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments
<br />shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under
<br />this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's
<br />obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay
<br />to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the
<br />event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any
<br />Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall
<br />furnish to Lender receipts evidencing such payment within such time period as Lender may require.
<br />Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed
<br />to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and
<br />agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a
<br />waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights
<br />under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay
<br />to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by
<br />a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender
<br />all Funds, and in such amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply
<br />the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can
<br />require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and
<br />reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable
<br />Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality,
<br />or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal
<br />Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified
<br />under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing
<br />the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds
<br />and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or
<br />Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower
<br />any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the
<br />Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to
<br />Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow,
<br />as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to
<br />Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than
<br />12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender
<br />shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary
<br />to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund
<br />to Borrower any Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and imp sitions
<br />attributable to the Property which can attain priority over this Security Instrument, leaseho ments
<br />Initials'
<br />NEBRASKA --Single Family --Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01
<br />Ellie Mae, Inc. Page 4 of 11
<br />NEEDEED 0315
<br />NEEDEED (CLS)
<br />02/17/2021 09:31 AM PST
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