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200304011
<br />Iflender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount
<br />to pay any late charge due, [he payment may be applied to the delinquent payment and the late charge. if more than one
<br />Periodic Payymment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic
<br />Paymentsif,andtothe extent that, each payment can be paid in full. To the extent that wry excess exists after the payment is
<br />applied to the fall payment of one or more Periodic Payments, such excess maybe applied many late charges due. Voluntary
<br />prepayments shad applied first to any prepayment charges and then as described in the Note.
<br />Any application ofpayments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note
<br />shall not extend or postpone the due date, or change the amount, of the 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 ofamounts due for: (a) nixes 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, if any; (c) premiums for anyand all insurance required by Lender under Section 5;
<br />or at anytime oaring me term or me roan, render may require mar wnmImmy rvsswrauvu noes, runs, mm as,,,cnis, 11
<br />any, be escrowed byy Burrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly
<br />furnish to Lender allnotices of amounts to be paid under this Section. Borrower shall pay Lenderthe 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. lathe
<br />event ofsuch waiver, Borrower shall ppaydirectly, 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. IfBorrower is obligated to pay Escrow Items d'vectly, pursuant to a waiver,
<br />and Burrower 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 an 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, drat are then required under this Section 3.
<br />Under may, at anytime, 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 in 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 ofexpenditures 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 a federal agency, instrumentality, or onto ty
<br />the
<br />,posits are so insured) or in any Federal Home Loan Bank. Lender I
<br />t the time specified under RESPA. Lender shall not charge Borrower
<br />ing the escrow account, or verifying the Escrow Items, unless Lender
<br />Law permits Lender to make such a charge. Unless an agreement is
<br />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,
<br />If there is a surplus of Funds held in escrow, I
<br />excess funds in accordance with RESPA. Ifthere is a t
<br />shall notify Borrower as required by RESPA, and Bc
<br />shortage in accordance with RESPA, but in no more tl
<br />escrow, as defined under RESPA, Lender shall notify B
<br />amount necessary to make up the deficiency m accords
<br />Upon payment in full ofall sums secured byth
<br />Funds held by Lender.
<br />4. Charges, Liens. Borrower shall pay all
<br />Property which can attain priority over this Security Ins
<br />and Community Association Dues, Fees, and Assessme
<br />shall pay them in the manner provided in Section 3.
<br />nptly drschar�c any lien which has priority over this Security Instrument unless Borrower (a)
<br />end y I e 0,rtg non secured bythe hen in a manner acceptable to Lender, but only so lohg as
<br />agreemenq (6) contacts the lien in good faith by, or defends against enforom em oftha lien m,
<br />eader's opinion operate to prevent the enforcement of the hen while those proceedings are
<br />proceedings are concluded; or (e) secures from the holder ofthe lien an agreemem satlsfactory to
<br />r to this Security Instrument If Lender determines that any part of the Property is subject m a
<br />over this SecunTy Instrument, Lender m¢yy give Borrower a notice identifpng the lien. Within
<br />that notice is given, Borrower shall satisty the lien or take one or more a 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 Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on die 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 fender 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 nr certification. Borrower shall also be responsible for the payment of any fees imposed y 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 m 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 of die Property, against any risk, hazard or liability and might provide greater or lesser coverage
<br />defined under RESPA, Lender shall account to Borrower for the
<br />rrtage of Funds held in escrow, as defined under RESPA, Lender
<br />awer shall pay to Lender the amount necessary to make up the
<br />1 12 monthly payments. If there is a deficiency of Funds held in
<br />sower as required by RESPA, and Borrower shall payto lender the
<br />e with RESPA, but in no more than 12 monthly ppayments.
<br />Security Instrument, lender shall lummptlyrefundto Borrower any
<br />:es, assessments, charges, fines, and impositions attributabletothe
<br />iment, leasehold payments or ground rents on the Property, if my,
<br />ifany. To the extent that these items are Esorowltems, Borrower
<br />in.
<br />Ver is
<br />exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lerwer under Ina Section 3 snau
<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 disbwxcmcM and shall be payable, with such interest, upon notice from Lender to Borrower requesting
<br />payment.
<br />All insurance policies required by standard Lender and renewals e, such policies shall be subject to Lender's right to
<br />disapprove such policies, shall include a standard mortggage clause, and shall name fender as mortgagee and/or as Borrower
<br />shallrompsspayee. Lender shall eeipts oeright premiums sand reel and renewal IfLender formfinsrance
<br />shill promptlygive m Lender all receipts ofpaid premiums and renewal notices. IfBorrower obtains any form of insurance
<br />NEBRASKA - Single Family- Fenaie MaNFreddie Mae UNIFORM INSTRUMENT Form3038 1101 (yage3of8pages)
<br />9ISa (V (vat) 1676483
<br />coTO(eo040e2)
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