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9g_ 1(�5`730
<br /> may attain priority over this Security Instrument as a lien on the Property;(b)yearly leasehold payments or ground rents on the Property,if
<br /> any;(c)yearly hazard or property insurance premiums;(d)yearly flood insurance premiums,if any;(e)yearly mortgage insurance premiums,
<br /> if any;and(�any sums payable by Borrower to Lender,in accordance with the provisions of paragraph 8,in lieu of the payment of mortgage
<br /> insurance premiums.These items are called"Escrow Items."Lender may,at any time,collect and hold Funds in an amount not to exceed the
<br /> maximum amount a lender for a federally related mortgage loan may require for Borrower's escrow account under the federal Real Estate
<br /> Settlement Procedures Act of 1974 as amended from time to time, 12 U.S.C.Section 2601 et seq.("RESPA"),unless another law that applies
<br /> to the Funds sets a lesser amount.If so,Lender may,at any time,collect and hold Funds in an amount not to exceed the lesser amount.Lender
<br /> may estimate the amount of Funds due on the basis of current data and reasonable estimate�of expenditures of future Escrow Items or
<br /> otherwise in accordance with applicable law.
<br /> The Funds shall be held in an institution whose deposits are insured by a federal agency,instrumentality,or entity(including Lender,
<br /> if Lender is such an institution)or in any Federal Home Loan Bank.Lender shall apply the Funds to pay the Escrow Items.Lender may not
<br /> charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or verifying the Escrow Items,unless Lender
<br /> pays Borrower interest on the Funds and applicable law permits Lender to make such a charge.However,Lender may require Bonower to pay
<br /> a one-time charge for an independent real estate tax reporting service used by Lender in connection with this loan,unless applicable law
<br /> provides otherwise.Unless an agreement is made or applicable law requires interest to be paid,Lender shall not be required to pay Borrower
<br /> any interest or earnings on the Funds.Borrower and Lender may agree in writing,however,that interest shall be paid on the Funds.Lender
<br /> shall give to Borrower,without charge,an annual accounting of the Funds,showing credits and debits to the Funds and the purpose for which
<br /> each debit to the Funds was made.The Funds are pledged as additional security for all sums secured by this Security Instrument.
<br /> If the Funds held by Lender exceed the amounts permitted to be held by applicable law,Lender shall account to Bonower for the
<br /> excess Funds in accordance with the requirements of applicable law.If the amount of the Funds held by Lender at any time is not sufficient to
<br /> pay the Escrow Items when due,Lender may so notify Borrower in writing,and,in such case Bonower shall pay to Lender the amount
<br /> necessary to make up the deficiency.Borrower shall make up the deficiency in no more than twelve monthly payments,at Lender's sole
<br /> discretion.
<br /> Upon payment in full of all sums secured by this Security Instrument,Lender shall promptly refund to Borrower any Funds held by
<br /> Lender.If,under paragraph 21,Lender shall acquire or sell the Property,Lender,prior to the acquisition or sale of the Property,shall apply
<br /> any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by this Security Instrument.
<br /> 3. Application of Payments. Unless applicable law provides otherwise,all payments received by Lender under paragraphs 1 and 2
<br /> shall be applied: first,to any prepayment charges due under the Note;second,to amounts payable under paragraph 2;third,to interest due;
<br /> fourth,to principal due;and last,to any late charges due under the Note.
<br /> 4. Charges;Liens. Bonower shall pay all taxes,assessments,charges,fines and impositions attributable to the Property which may
<br /> attain priority over this Security Instrument,and leasehold payments or ground rents,if any.Borrower shall pay these obligations in the
<br /> manner provided in paragraph 2,or if not paid in that manner,Borrower shall pay them on time directly to the person owed payment.Bonower
<br /> shall promptly furnish to Lender all notices of amounts to be paid under this paragraph.If Bonower makes these payments directly,Borrower
<br /> shall promptly furnish to Lender receipts evidencing the payments.
<br /> Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:(a)agrees in writing to
<br /> the payment of the obligation secured by the lien in a manner acceptable to Lender;(b)contests in good faith the lien by,or defends against
<br /> enforcement of the lien in,legal proceedings which in the Lender's opinion operate to prevent the enforcement of the lien;or(c)secures from
<br /> the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument.If Lender determines that any part
<br /> of the Property is subject to a lien which may attain priority over this Security Instrument,Lender may give Borrower a notice identifying the
<br /> lien.Bonower shall satisfy the lien or take one or more of the actions set forth above within 10 days of the giving of notice.
<br /> 5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br /> insured against loss by fire,hazards included within the term"extended coverage"and any other hazards,including floods or flooding,for
<br /> which Lender requires insurance.This insurance shall be maintained in the amounts and for the periods that Lender requires.The insurance
<br /> carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld.If
<br /> Borrower fails to maintain coverage described above,Lender may,at Lender's option,obtain coverage to protect Lender's rights in the Property
<br /> in accordance with paragraph 7.
<br /> All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.Lender shall have the
<br /> right to hold the policies and renewals. If Lender requires,Borrower shall promptly give to Lender all receipts of paid premiums and renewal
<br /> notices.In the event of loss,Bonower shall give prompt notice to the insurance carrier and Lender.Lender may make proof of loss if not made
<br /> promptly by Borrower.
<br /> Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be applied to restoration or repair of the Property
<br /> damaged,if the restoration or repair is economically feasible and Lender's security is not lessened.If the restoration or repair is not
<br /> economically feasible or Lender's security would be lessened,the insurance proceeds shall be applied to the sums secured by this Security
<br /> Instrument,whether or not then due,with any excess paid to Borrower.If Borrower abandons the Property,or does not answer within 30 days
<br /> a notice from Lender that the insurance carrier has offered to settle a claim,then Lender may collect the insurance proceeds.Lender may use
<br /> the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument,whether or not then due.The 30-day period
<br /> will begin when the notice is given.
<br /> Unless Lender and Borrower otherwise agree in writing,any application of proceeds to principal shall not extend or postpone the due
<br /> date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments.If under paragraph 21 the Property is
<br /> acquired by Lender,Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition
<br /> shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition.
<br /> IVEBRASKA--Single Family--FNMA/FHLMC LINIFORM INTRUMENT Form 3028 9/90
<br /> (page 2 of 6) n,� ,r �f�.,,,
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