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200302876
<br />payment from Borrower for a delinquent Periodic Payment which includes a suffrcientamount
<br />ie payment may be applied to the delinquent payment and the late charge. If more than one
<br />'mg, Lender may apply any payment received from Borrower to the repayment of the Periodic
<br />that, each payment can be paid in full. To the extent that any excess exists after the payment is
<br />one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary
<br />Any application mpayments, o1mrance 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 aredue under the Note,
<br />until the Note is paid in full, a sum (the "Funds ") to provide for payment ofamounts due far: (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 />and (d) Mortgage Insurance premiums, ifany, or any sums payable by Borrower tc Lender m lieu 1tfl a paymentofMortgage
<br />Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination
<br />or at anytime during the term ofthe Loan, Lender may require that Community Association Dues, Fees, and Assessments, if
<br />any, be escrowed byy Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly
<br />furnish to Lender allnotices 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 ofsuch 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 y Lender and, if Lender requires, shall furnish to Lander 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 thephrase
<br />"covenant and agreement" is used in Section 9. IfBOrrower is obligated m pay Escrow Items directly, pursuant to a waiver,
<br />and Borrower fads to pay the amount due for an Escrow Item, Lender may exercise its righis 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 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 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 ofew ew data and reasonable estimates ofexpendiones offrture 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, ifUnder 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 RESPA. 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 top ay 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 in Borrower for the
<br />excess funds in accordance with RESPA. Ifthere 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. 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 promptlyrefundto Borrower any
<br />Funds held by Lender.
<br />4. Charges; Liens. 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 we 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 ofthe obhggan in secured by the lien in a manner acceptable m Lender, but only so long as
<br />Borrower is performing such agreement; (b) contests the lien in good faith by, or defende against enforoemen[ ofthe lien m,
<br />legal proceedings which in Lender's . n n lon operate to prevent the enforcement ofthe hen while those proceedings are
<br />pending, but only until such proceedings ar e wneluded; or (e) secures from [he holder ofthe lien an agrcementsatisfaGoryto
<br />Lender subordinating the lien to this Security Instrument If Lender determines that any pert ofthe Property is subject 0 a
<br />lien which can attain priority over this Security instrument, lender mayy give Borrower anotice identify n elien. Within
<br />10 days offi e date on which that notice is gi e B rrower shall suns the lien or take one or more ofthe 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 Loan.
<br />5. Property Insurance. Borzower shall love the improvement s now exist ing or hereafter erected on the Property
<br />insured against loss by fire, hazards included within the term "eMended coverage," and any other hazards including, but not
<br />,_'led earthquakes and floods, for which lender requires insurance. This insurance shall be maintained in the amounts
<br />(including deductible levels) and far 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 ofany flood zone determination resulting from an objection
<br />by Borzower.
<br />If Borrower fails to maintain any of me 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 ofthe 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 ofthe insurance coverage se obtained mightsignificamly
<br />exceed the cost ofinsurance that Borrower could have obtained. Any mounts disbursed by Lenderinder this Section 5 shall
<br />become additional debt ofBorrower 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 required by Lender and renewals of such policies shall be subject to Lender's right in
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an
<br />additional loss payee. Lender shall have the rightto hold the policies and renewal certificates, If Lender requires, Borrower
<br />shall promptly give to Lender all receipts ofpaid premiums and renewal notices. IfBorrower obtains any form ofinsurance
<br />NEBRASKA --B,k Family- -Forme MaelFreddie Mec UNIFORM INSTRUMENT Form3028 1/01 (page3oj8yage.r)
<br />4154 CV (1101) 1663855
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