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200301236 Iflander receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent ppayment and the late charge. It more than one Periodic Payment is outstanding, Lender may apply any payment received nom Borrower to the repayment ofthe Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment ofone or more Periodic Payments, such excess maybe applied to any late chargcsduc. Voluntary prepayments shall be applied first to uny prepayment charges mad then as described in the Note. Any application ofpayments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, ofthe Periodic Payments. 3. Fundsfor Escrowltems. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in bill. a sum (the "Funds ") to provide for payment ofarnounts due for. a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, fany; (c) premiums for any and all insurance required by lender under Section 5; and (d) Mortgage Insurance premiums, ifany, or arty sums payable by Borrower to Lender in lieu ofthe payment ofMortgage Insurance pre. rums in accordance with the provisions of Section 10. Those items are called "Escrow Items" Al origination or at any time during the term ofthe Loan, Lender may require that Community Association Dues, Fees, and Assessments,if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Fsunaw Item. Borrower shall promptly furnish to Lander all notices ofamounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for arty or all Escrow Ite us at anytime. Any such waiver may only be in writing. In the event ofsuch waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived y Lender und, if tender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes he deemed to be a covenant and agreement contained in this Security Instrument, m the phrase "covenant and agreement" is used in Section 9. IfBorrower is obligated to pay Lscrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due C er may exercise its rigghts under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lenderanysuch amount. Lender may revoke the waiver as to any oral[ Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at anytime, collect and hold Funds in an amount(a)so lcient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due un the basis of tmo,al data and reasonable estimates ofexpenditines of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits arc insured bya federal agency, instrumentality, or ent (including Lender, if lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Under to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to gay Borrower any inter est or earnings on the Funds. Borrower and l ender can agree in writing, however, that interest shall be paid on the Funds lender shall give to Borrower, without charge, an annual accounting ofthe Funds as required by RESPA. Ifthere is a surplus of Funds held in escrow, as defined under RESPA, Under shall account to Borrower for the excess funds in accordance with RESPA. Ifthere is a shortage ofPunds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no inure than 12 monthly payments. Ifthere is a deficiency ofFunds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall payto Lender the amount necessary to make up the deficiency in accordance with RESPA, but in tie inure than 12 monthly payments. Upon payment in Rill ofall sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leascho ld payments or ground rents on the Properly, ifany, and Conununiry Association Dues, Fees, and Assessments, ifany. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees is writingto the payment ofthe obligation secured by the lien in a manner acceptable to Lender, but only sec lung as Borrower is performing such agreement-, (b) contests the lien in good toith by, or defends against enforcement ofthe ILou in, legal proceedings which in Lender's opinion operate to prevent the enforcement ofthe hen while those poccedings arc pending, but only until such proceedings are concluded; or (c) secures from the holder ofthe lien an agreement satidtaoryto Lender subordinating the lien to this Security Instrument. Ifl.ender determines that any part ofthe Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borroweranotice identityingthe lien. Within 10 days ofthe date on which thatnotice is giveq Borrower shall sans the lien or take one or more ofthe actions set forth above in this Section 4. Lender may require Borrower to pay a one -time charge for a real estate tax verification and /or reporting service used by leader in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected came Property insured against loss by fare, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that lender requires. What lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lento's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Under may require Borrower to pay, in connection with this Loan, either (a) a one -time charge for flood zone determination, cenifacalio. and tracking services; or (b) a one -time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review ofarry flood zone determination resulting from an abjection by Borrower. If Borrower fails to maintain any ofthe coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. I order is tinder no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents ofthe Property, against any risk, hazard or liability and might provide greater or lesser coverage Limn was previously in effect. Beat coon racknowledges that the cost ofthe insurance coverage so obtained might significantly exceed the cost of insurance that Borrower cot, I have obtained. Any amounts disbursed by l ender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. I f I ender requires, Borrower shall promptly give to Lender all receipts ofpaid premiums mid renewal notices. IfBorrower obtains any form of insurance NEBRASKASSn91e Family — Fannie Mne /Freddie Mac UNIFORM INSTRLINFN'T Form 1029 1101 /pgQe3 oJApnge,J u'icv,, ,,, ILUO11 GOTO(O0M03d2)