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200301956
<br />If Lender receives a payment from Borrower for 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 lute charge. If more than one
<br />Periodic Payment is outstanding, I ender may apply Wry payment received from Borrower to the repayment of the Periodic
<br />Payments if, and to the extent that, each payment can be paid in fill. To the extent that any excess exists after the payment is
<br />applied to the fillpayment of one or mitre Pe i is Payments, such excess maybe applied to any late chargesdue .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 the Note
<br />shall not extend or postpone the due date, or change the amount, ofthe Periodic Payments.
<br />3. Funds for Escrow Items. 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 for: (a) taxes and assessments and
<br />other itudts which can attain priority over this Security Instrument as alien or encumbrance on the Property; (b) leasehold
<br />payments or ground rents on the Property, ifany; (c) premiums for any and all insurance required by Lender under Section 5;
<br />and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender it lieu oftlre paynrentofMortgage
<br />Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination
<br />or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments,if
<br />any, be escrowed byy Borrower, and such dues, fees mid assessments shall be an Escrow Item. Borrower shall promptly
<br />furnish to Lender allnotices of amounts to be paid under this Sect ion. Borrower shall pay Lender the Fords 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 e in writing. In the
<br />event of such waiver, Borrower shall ppay directly, when and where payable, the amounts due for any Escrow Items Corwhich
<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 Tender 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 agr eement contained in this Security Instrument, as die phrase
<br />"covenant and agreement" is used in Section 9, If Borrower is obligated to pay Escrow Items directly, pursuant 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 9lu 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 regqwired under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sit icientto permit I ender 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 of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow
<br />Items or otherwise in accordance with Applicable law.
<br />The Funds shall be held in an institution whose deposits are insured by federal agency, instrumentality, or entity
<br />(including lender, if Lender is an institution whose deposits are sit insured) or In any Federal Home Loan Bank. Leander shall
<br />apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower
<br />Cur 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 pay Borrower
<br />any interest or earnings on the Funds. Borrower and lender can agree in writing, however, that interest shall a paid on the
<br />Funds. Lender shall give to Borrower, without charge, an annual accounting ofthe Funds as required by RESPA.
<br />If there 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. If there is a shortage 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 to make up the
<br />shortage in accordance with RESPA, but in no more than 12 monthly payments. Iftherc 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 stake up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in bill of all sums secured by this Security Instrument, lender shall promptlyrefind to Borrower any
<br />Funds held by Lender.
<br />4. Charges;Liens. Borrower shall pay all goes, assessments, charges, fines, and impositions attributable to the
<br />Property which can about priority over this Security Instrument, leasehold payments or ground rents on the Property, ifany,
<br />and Community Association Dues, Fees, and Assessments, ifany. To die extent that these items are Escrow Items, Borrower
<br />shall pay them in the manner provided in Section 3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as
<br />Borrower is perforating such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in,
<br />legal proceedings which is lender's opinion operate to prevent the enforcement of the lien while those proceedings are
<br />pending, but only until such proceedings are concluded; or (c) secures from the holder ofthe lien ar agreement satisfactory to
<br />Lender subordinating the lien to this Security Instrument If Lender determines that any part ofthe Property is subject to a
<br />Hen which can asainpriority over this Security Instrument. I ender 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 one -time charge for a real estate tax verification and/or reporting service
<br />used by Lender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep die improvements now existing or hereafter erected on the Property
<br />insured against lass by fire, hazards included within the term "extended coverage," and any other hazards including, but not
<br />I in ited 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 Iender requires pursuant to die preceding
<br />sentences can change during the term of the Lou.. The Insurance carrier providing the insurance shall be chosen by
<br />Borrower suhject to Lender s right to disapprove Borrower's choice, which right shall not be exercised unreasonably.
<br />Leader may require Borrower to pay, in connection with this loan, either: (a) a one -time charge for flood zone
<br />determinanon, certification artd sacking 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 ofany 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. Theref ore, such coverage shall cover lender, but might or might not protect Borrower, Borrower's equity in the
<br />Property, or the contents (lithe Property, against any risk, hazard or liability and might provide greater or lesser coverage
<br />than was prcviouslyineflect. Borrower acknowledges that the cost uRhc insurance coverage so obtained might sigtrificantly
<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 by this 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 , sal required standard Lender and renewals e, such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or o er an
<br />sheenpromptly payee. Lender shall eeipts of paid premiums renewal and renewal Lender of Borrower
<br />shat l promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance
<br />NEBRASKA - Single Fondly- Fannie Mae /Freddie Nat UNIFORM INS'] RUNEN'T Form3028 1 /01 (page3of8pag )
<br />9754 CV(IIQ) 1M151N,
<br />GOTO(0004241b)
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