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200213662 If Lander 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 applied to the delinquent paymem and the late charge. If more than one Periodic Payment is outstanding, Lender may, apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can he paid In in II To the extent that any excess exists after the payment is applied to the PoII payment of one or more Periodic Payments, such excess may, be applied to any late charges due. Voluntary prepaymcnte shall he applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Nom shall not extend or postpone the due daft, or change the amount, ofthe Periodic Payments. 3. Funds for Escrow Rents. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Nunds'') to provide for payment ofamounts due for: (a) taxes and assessments and other items which can attain for over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any, (c) premiums for any and all insurance requited by Lender under Section 5; and (d) Mortgage Lnsmance premiums, if any, or any sums payable by Borrower to Lender in lieu ofthe payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items /' At or or at any time during the term ofthe Loan, Lender may require that Community Association Dues, Fact, and Assessments,if any, he escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices ofamounts m be paid under this Section. Borrower shall pay Lender the Funds Por P_vcrowltems unlcss lender waives Borrower's obligation to ppay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation m pay m lender Funds for anyor all Escroveltemsatanylune. Any such waiver may only he in writing, inthe event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived y Lender and, if Lender requires, shall furnish to Under receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all 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. It Borrower is obligated to pay Escrow Items directly, pursuant to a waiver and Borrower fails to pay die amount due for Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shal I then be obligated under Section 9 to repay to Lender any such amount Lender may revoke are waiver as to anyor all Escrow Items atany time 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 any time, collect and hold Funds in an amount (a) sufficient to permit Under to appply the Funds at the time specified under RESPA, and (b) not rn exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis otcurrent data and reasonable estimates orexpendimrct offuture Escrow Items or otherwise in accordance with Applicable law_ The Funds shall be held in an institution whose deposits are insured bya federal agency, instrumentality, or entity (including Tender, Offender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lendershall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall reacharge Borrower for holding and applying the Funds, annually analyzing 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 he 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 ahall be paid on the Nunds. I ender shall give to Borrower, without charge, an annual accounting ofthe Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Burrower for the excess funds in accordance with RESPA. It there is a shortage off unds 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 Burrower shall paym fender 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 by this Security Instrument, Lender shall promptly refund in Borrower any Funds held by Under. 4. Charges; Liens. Borrower shall pay all taxes, asscssmcnts, charges, fincs, and impositions aanbutable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments-, it any. 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 writino to the payment ofthe obligation secured by the lien in a manner acceptable to Lender, but onlyso long as Borrower is per'�ortning such agreement; (b) contests tiro lien in good faith by, ordefends against enforcement ofthe lien in, legal proceedln s which in Lender's opinion operate m prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) section from the holder of the lien an agreement satisfactory to Under subordinating the lien to this Security Instrument. if Lender determines that any part of the Property is subject to lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more ofthe actions set foNt above in this Section 4. 1 coder 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 Ore Property insured against loss by fire, hazards included within the term "extended coverage;' and any other hazards including, but not lintited 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 [under requires. What lender requires pursuant to the preceding sentences can change during the term of 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, certificution and tracking services; or (b) a ono-time charge for Flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such defeadsmiUOa os ce0.fCscaliva. 11"'wxrs'I"k), also be ""yy'w lh\c 8x Rsc is., of of Ceeea Emergency Management Agency in connection with the review of any Flood zone determination resulting from an objection by Borrower. It Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Iundcr's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall aver Under, but mightor might not protect Borrower. Borrower's equity in the Property, or the contents ofthe Property, against any risk, hazard or liability and might provide greater or leaser coverage than was previously in effect Borrower acknowledges that the cost of the insurance cover age so obtained might significantly exceed the costorinsurance that Bonewerceald have obtained. Any amounts disbursed by Section under this Seon 5shall become additional debt of Borrower secured by this Scnurity In m strnent. These amounts shall bear interest at the Note rate from the dam of disbut5ement and shall be payable, with such interest upon notice from Lender to Borrower requesting payment. All insurance policies required by standard Lender and renewals e, such politics shall he ms too to Lender's right to disapprove such policies, shall include u atznduto mortgage clause, and shall name Lender as mortgagee and/or o er an additional loss payee lender shall have the right m hold the and renewal and renewal If If tai Leader an requires, But Ito shall promptl y give to I under all receipts of paid premiums and renewal notices. if Borrower obtains any form of insurance NERRASKA— Single PnmilY— Fanni eAl ae /Frediie Mae I INIFORM IN'STROMRNT Form 3028 1 /01 (page 3 q/8 pager) '755CV(I 10M InIlISa GOT01W1131a)