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200303282 If Lender 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 a plied to the delinquent payment and [he late charge. If more than one Periodic Payment is outstanding, Lender may app y any payment received from Borrower to the repayment of[he Periodic Payments if, and to the extent that, each payment can be paid in toll. To the extent that anyexcess exists after the payment is applied to the full payment ofone or more Penodic Payments, such excess may be applied to any late charges due. VoluiBary prepayments shall be applied first to any prepayment charges and then as described in the Note. Anyapphcation ofpayments, insurance pproceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or ppostpone the due date, or change die amount, of[ha Periodic Payments. 3. Funds(or ESCFOW Items. Borrower shall Payto Lender onthe day Periodic Pay!�ents are due under the Not:, until the Note is aid in full, a sum (the "Funds ") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instument as a lien or encumbrance on the Property; (b) leasehold oavments or ¢round rents on the Property, ifany; (c) premiums for any and all insurance required by Lender under Section 5; Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Iterri At origination or at any time during die term of die Loan, Lender may require that Community Association Dues, Fees, and Assissments,if any, be escrowed byy Borrower, and such dues, fees and assessments shall bean Escrow Item. Borrower shall promptly fumishtolenderalll tices ofamouius 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 Lander Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. lathe event ofsuch waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow items Per which payment of Funds has been waived y lender and, if Lender 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 shal I for al I purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due form Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at anytime 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 anyy time, collect and hold Funds in an amount (a) sufficient 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 on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in my Federal Home loan dank. 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 Fonds, annuallyanalyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the funds and Applicable Law permits Lender 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 pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall epaid on the Funds. lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account in Borrower for the excess funds in accordance with RESPA. If there is a shortage ofFuiids 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 more than 12 monthly payments. If there is a deficiency of Funds 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 deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured bythis Security Instrument, Lender shall promptlyrefun to Bonowerany Funds held by Lender. 4. Charges;Licns. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Properly, if my, and Community Association Dues, Fees, and Assessments, if my. 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 in writing to the payment of the obliggation secured by the lien in a manner acceptable to lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement ofthe lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the hen while those proceedings are Ebut only until such proceedings are concluded; or (c) secures from the holder of the lien an agreementsidisfactoryto Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender mayy give Borrower a notice identifying the lien. Within 10 days of die date on which that notice is given, Borrower shall satisry the lien or take one or more of the 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 Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, 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 Under requires pursuant to the preceding sentences can change during the term The Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one -time charge for flood zone determination, certification and hacking services; or (b) a one -time charge for Flood tune 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 y the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at I ender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Theref ore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost ofthc insurance coverage so obtained miglnsignificard exceed the cost ofinsurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 sha I become additional debt of Borrower secured by this Security Instrument These amounts shall bear interest at the 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 Dolicies shall be subject to lender's right m disapprove such policies, shall include a standard mort6�age clause, and shall naive Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance NEBRASKA - Single Family- Fannie Mae /Fouldle Mac UNIFORM INBI'RUMENT Form3028 INI /pnge] f8pnges) 9954CV(1/02) 1668532 1,010o(046e52)