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<br />200603338
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<br />Payments are deemed received by Lender when received at the location designated in the Note or at such other location
<br />as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or
<br />partial payment if the payment or partial payments are insufficient to bring the Loan cunent. Lender may accept any payment
<br />or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to
<br />refnse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such
<br />payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on
<br />unapplied funds. Lender may hold such unapplied funds until Borrower makes paymcnt to bring the Loan current. If
<br />Borrower docs not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower.
<br />If not applicd earlier, such funds will be applied to the outstanding principal balance under the Note innnediately prior to
<br />foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Bon-ower from
<br />making payments due under the Note and this Security Instrument or performing the covenants and agreemcnts 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 Notc; (c) amounts dne under Section 3. Such payments shall be applied to each Periodic Payment in the order in
<br />which it became due. Any remainiug amounts shall be applied first to late charges, second to any other amounts due under
<br />this Security Instrllment, and then to reduce the principal balance of the Note.
<br />If Lender receives a paymcnt 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 olle 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 appl ied to any late charges due. Voluntary
<br />prepayments shall be applied first to any prepayment charges and then as described in thc 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 />unti I 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; (c) premiums for any and all insurance required by Lender uuder Section 5;
<br />and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of
<br />Mortgage Insurance premiums in accordance with the provisions of Scction 10. These items arc called "Escrow Items." At
<br />origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and
<br />Assessments, if any, be escrowed by Borrower, and such dnes, fees and assessments shall be an Escrow Item. Borrower shall
<br />promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for
<br />Escrow Items unless Lender waives Borrowcr's obligation to pay the Funds for any or all Escrow Items. Lender may waive
<br />Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in
<br />writing. In the event of such waiver, Bonower shall pay directly, when and where payable, the amounts due for any Escrow
<br />Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts
<br />evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and
<br />to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Iustrument, as
<br />the phrase "covenant and agreement" is used in Section 9. If BOITower is obligated to pay Escrow Items directly, pursuant to
<br />a waiver, and Borrower fails to pay the alllount due for an Escrow Item, Lender may exercise its rights under Section 9 and
<br />pay such amouut and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender lllay
<br />revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such
<br />revocatiou, 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 (a) sufficient to permit Lender to apply the Funds at the
<br />time specified under RESPA, and (b) not to exceed the maximLlnl amount a lender can require under RESPA. Lender shall
<br />estimate the amount of Funds due on the basis of cunent data and reasonable estimates of expenditures of future Escrow
<br />Items or otherwise in accordance with Applicable Law.
<br />The [<'umls shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity
<br />(iucJuding Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shalI
<br />apply the Funds to pay the Escrow Items no later than the time specified under RESP A. Lender shall not charge Borrower ('or
<br />holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays
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<br />ITEM 2698L4 (0011)-MERS
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<br />(Page 4 of 12 pages)
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<br />Form 3028 1/01
<br />GREATLANP.
<br />To Order Call: "800.530-9393 D Fax: 616-791-1131
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<br />NEBRASKA-Single Family-Fannie Mae/Frcddlc Mac UNIFORM INSTRllMENT
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