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200301954
<br />If lender receives a payment from Borrower far a delinquent Periodic Payment which includes a sufficient amount
<br />to pay any late charge due, the payment may be applied to the delinquent ppayment and the late charge. If more than one
<br />Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment ofthe Periodic
<br />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
<br />applied to the full payment of one or more Periodic Payments, such excess maybe applied to anylatecharges due. Voluntary
<br />prepayments 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 theNote
<br />shall not extend or postpone the due date, or change the amount, ofthe Periodic Payments,
<br />3. Funds for Escrow It ems. Borrower shall Pay to Lender on the day Periodic Payments are due under the Note,
<br />until the Note is paid in full, a sum (the `Funds ") to provide for payment of amounts due foe (a) taxes and assessments and
<br />other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold
<br />payments or ground rents on the Property, ifany; (c) premiums for any and all insurance required b lender under Section 5;
<br />to
<br />and (d) Mortgage Insurance premiums, ifany, or any sums payable by Borrower Lender m lieu ozher ayment ofMortgage
<br />or at any time during the term of the Loan, Under may require that Community Association Dues, Fees, and Assessments,if
<br />any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly
<br />furnish to Lender all notices ofamounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items
<br />unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's
<br />obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the
<br />event ofmch waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which
<br />payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such
<br />payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide
<br />receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase
<br />"covenant and agreement" is used in Section 9. If Borrower is obliga pursuant ted to pay Escrow Items directly, pursuano a waiver,
<br />and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such
<br />amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the
<br />waiver as to any or all Escrow Items at anytime by a notice given in accordance with Section 15 and, upon such revocation,
<br />Borrower shall pay to Lender all Funds, and in such amounts, that are then reqquired under this Section 3.
<br />Lender may, at anytime, collect and hold Funds in an amount (a) so icientto permit lender to apply the Funds at
<br />the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender
<br />shall estimate the amount ofFunds due on the basis ofemon t data and reasonable estimates ofexpenditures offuture Escrow
<br />Items or 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
<br />(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank Lender shall
<br />apply the Funds to pay the Escrow Items no later than the time specified under RE SPA. Lender shall not charge Borrower
<br />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. Unless an agreement is
<br />made in writing or Applicable law requires interest to be paid on the Funds, Lender shall not be required to gay Borrower
<br />any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the
<br />Funds. Lender shall give to Borrower, without charge, an annual accounting ofthe Funds as required by RESPA.
<br />Ifthere is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the
<br />excess funds in accordance with RESPA. Ifthere is a shortage of Funds held in escrow, as defined under RESPA, Lander
<br />shall notify Borrower as requited by RESPA, and Borrower shall pay to Lender the amount necessary to make up the
<br />shortage in accordance with RESPA, but in no more than 12 monthly payments. Ifthere is a deficiency of Funds held in
<br />escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall payto Lender the
<br />amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full ofall sums secured by this Security Instrument, Lender shall promptlyrefrad to Borrower any
<br />Funds held by Lender.
<br />4. Charges;Llens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, ifany,
<br />and Community Association Dues, Fees, and Assessments, ifany. To the extent that these items are Escrow Items, Borrower
<br />shall pay them in the manner provided in Section 3.
<br />Borrower shal I promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing m
<br />to the payment ofthe obliggation secured by the lien in a manner acceptable to Lender, but only so long as
<br />Borrower is performing such agreeent; (b) contests the lien in good faith by, or defends against enforcement ofthe lien in,
<br />legal proceedings which in Lender's opinion operate to prevent the enforcement ofthe lien while those proceedings are
<br />Lender subordinating the lien to this Security Instrument If Lender determines that any pan of the Property is subject to
<br />lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within
<br />10 days of the date on which that notice is given, Borrower shall satisfy, the lien or take one or more of the actions set forth
<br />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 service
<br />used by Lender in connection with this lean.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erectedon the Property
<br />insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not
<br />limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts
<br />(including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding
<br />sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by
<br />Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably.
<br />Lender may require Borrower to pay, in connection with this Loan, either: (a) a one -time charge for flood zone
<br />determination, 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 affect such
<br />determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal
<br />Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection
<br />by Borrower.
<br />If Borrower fails to maintain any of the coverages described above, lender may obtain insurance coverage, at
<br />Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of
<br />coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the
<br />Property, or the contents offl e Property, against any risk, hazard or liability and might provide greater or lesser coverage
<br />than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly
<br />exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall
<br />become additional debt of Borrower secured bythis Security Instrument These amounts shall bear interest at the Note rate
<br />from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting
<br />payment.
<br />All insurance policies refired by Lender and renewals of such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall time Lender as mortgagee and /or as an
<br />additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires. Borrower
<br />shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance
<br />NEBRASKA S,r,1, Family— Faaoieblae/Freddw Mac UNIFORM INSTRUMENT Ferm3025 1101 (prtge3of8prtq )
<br />9754 CV (1,02) 1653385
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