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200308.84
<br />Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower.
<br />If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to
<br />foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from
<br />making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by
<br />this Security Instrument.
<br />2.Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted
<br />and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due
<br />under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in
<br />which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under
<br />this Security Instrument, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to
<br />pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic
<br />Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments
<br />if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to
<br />the full payment of one or more Periodic Payments, such excess may be applied to any late charges 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 the Note shall not
<br />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 of amounts due for: (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, if any; and (c) premiums for any and all insurance required by Lender under
<br />Section 5. These items are called Escrow Items. At origination or at any time during the term of the Loan, Lender may
<br />require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this
<br />Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrowers obligation to pay the
<br />Funds for any or all Escrow Items. Lender may waive Borrowers obligation to pay to Lender Funds for any or all Escrow
<br />Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when
<br />and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if
<br />Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require.
<br />Borrowers obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and
<br />agreement contained in this Security Instrument, as the phrase covenant and agreement is used in Section 9. If Borrower is
<br />obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item,
<br />Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to
<br />repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given
<br />in accordance with Section 14 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that
<br />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 the
<br />time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall
<br />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 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 RESPA. Lender shall not charge Borrower for
<br />holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays
<br />Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in
<br />writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest
<br />or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds.
<br />Lender shall give to Borrower, without charge, an annual accounting of the 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 excess
<br />funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall
<br />notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in
<br />accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as
<br />NEBRASKA Single Family UNIFORM INSTRUMENT
<br />ITEM 2458L4(0011)
<br />CVNE10
<br />(Page 4of I1 pages)
<br />Mortgage Partner by Automated Mortgage Technologies
<br />GREATLAND
<br />To Order Call: 1- 800 - 530- 9393Fax: 616- 791 -1131
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