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200214198
<br />If Lender receives a payment from Borrower for a deIinq uent Periodic Payment which includes a sufficient amount
<br />to pay any late charge due, Ilse payment maybe applied to the delinquent ppayment and the late charge If more than one
<br />Per odic Payment is outstanding, Lender play apply any payment received from Borrower to the repayment of the Periodic
<br />Payments if, and to the extent that, each paymentcan be paid in fit IL 'I 'o the extent that any excess exists after the payment is
<br />applied to the full payment ofone or rnore Periodic Payments, such excess may be applied to any late chin ges 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
<br />shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Eser"Ifians. Borrowcrshall pay to Lender on the day Periodic Payments are due mcferthe Note,
<br />until the Note is paid in Polka sum (the "funds-') to provide for payment ofamounts due tar: (a) taxes and assessments and
<br />other itertls which can attain priority over this Security Instrument as alien or encumbrance on the Property; (b) leasehold
<br />payments or ground rents on the Property, ifany; (c) premiums for any and all insurance required byy Lender under Sections;
<br />any,
<br />and (d) Mortgage Insurance premiums, if or any sums payable by Burrower to Lender in lieu ofthc payment of Mortgage
<br />Insurance premiums in accordance with the provisions of Section 10.'1'hese items are called "Escrow Items" Atorigination
<br />or at anytime during the tern of the Loan, Lender troy require that Community Association Dues, Fees, and Assesaments,if
<br />any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly
<br />famish to Lender all notices ofemoumls 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 on ly be in writing. In the
<br />event of such 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 by lender and, if Lender requires, shall famish to Lender receipts evidencing such
<br />payment within such time period as Lender may require. BOITOwer'a 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. If Bonower is obligated to pay Escrow Items directly, pursuant to a waive;
<br />and Borrower fails to pay the amount due for an Escrow Item. Lender may exercise its rights under Section 9 and pay such
<br />amount and Bon ower shall then be obligated under Section 9 to repay to Lender any such amount. Leader mayrevokethe
<br />waiver as to anyor all Escrow Items at any time 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 (n) sufficient to permit Lender to apply the Funds at
<br />the time specified under RESPA, and (b) not to exceed the maximum amount a leader can rec one under RESPA. Lender
<br />shall rstimatc the amount of Funds' due un the basis of current data and reasonable estimates c)fcxpendimros offuture Fscrov
<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 Batik, Lendershall
<br />apply the Funds to pay the Escrow Items no later than the time s'pccified under RESPA. Lender shall not charge Borrower
<br />for holding and applying the funds, annually analyzing the escrow account, or veri fying the Escrow Items, unless Lender
<br />pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Iinless an agreement is
<br />made in writing or Applicable law requires interest to be paid on the Funds, Lender shall not be required to pay FILL i ewer
<br />any interestoreamings on the Funds. Burrower 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 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
<br />excess fiends in accordance with RESPA. lfthere 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. If there is a deficiency of Funds held in
<br />escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Bonower shall pay m I ender 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 Cull ofall sums secured by this Security lnatrurnmr, Lender shall promptly refund to Borrower any
<br />Funds held by Lender_
<br />4. Charges;Liens. Borr ower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Property which can attain priority over this Security Instranrent, leasehold payments or ground rents on the Property, if any,
<br />and Community Asmear alien Dues, Fees, and Assessments, ifany. To the extent that these items are Escrow Items, Borrower
<br />shall pay them in the manner provided in Section 3.
<br />Borrower shall promptly discharge any lien which has priorttyover this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment ofthe obligation secured by the lien in a manner acceptable to Lender, but only so long as
<br />Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement ofthe hen in,
<br />legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are
<br />pending, but only until such proceedings are concluded; or (c) secures from the holder ofthe lien an agreement satisfactory to
<br />Lender subordinating the lien to this Security Instrument If Lender determines that any part ofthe Property is subject to a
<br />lien which can attain priority over this Security Instrument, Lender may give Burrower a notice identifying the lien. Within
<br />10 days of the date on which that notice is given, Borrower shall satisfy 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 Ibr 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 the Property
<br />insured against loss by fire, hazards included within the term "extended coverage," and anyother hazards including, but not
<br />limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be main tai Led in the natural is
<br />(including deductible levels) and for the periods that Lender requires- What Lender requires pursuant to the preceding
<br />sentences can change during the tern of the Loan. The insurance carrier providing the insurance shall be chosen by
<br />Burrower 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 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 to purchase any particular type or amount of
<br />coverage. Theiefore,sueh coverageshalleover Leadeq bmtmightor might not protect Burrower, Borower'segaityinthe
<br />Property, .,the content of die 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 of the insurance coverage so obtained mightsumificantly
<br />exceed the cost of insurance that Borrowercould have obtained. Any amounts disbursed by Lender under this Section 5 shall
<br />become additional debt of Borrower secured by this Security Instr nient. These amounts shall bear interest at the Note rate
<br />from the dam of dtsbu,sc.cnt and shall be payuble, with such interest upon notice front 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 to
<br />disapprove such policies, shall include a standard mortgage clause, and shall name Leader as mortgagee and/or as an
<br />NEBRASKA — Single Family--Pannte Mae /FredUle Men UNIFORM INSTRUMENT Fnrm]OSR 1 /01 (f,age Jn/Nnage,)
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