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<br />CW1
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<br />200605480
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<br />Payments are deemed received by Lender when received at the location designated In the Note or at such other
<br />location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return
<br />any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender
<br />may accept any payment or partial payment insufficient to bring the Loan curren!, without waiver of any rights
<br />hereunder or prejudice to its rights to refuse such payment or partial payments in the future, bot Lender Is not
<br />obligated to apply such payments at the time such payments aI'll accepted. If each Periodic Payment is applied as of
<br />its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds
<br />until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of
<br />time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be
<br />applied to the outstanding principal balance under the Note InUl1edlately prior to foreclosure. No offset or claim
<br />which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due
<br />under the Note and this Security Instrument or performing the covenants and agreements secured by this Security
<br />Instrument.
<br />2. Application of Payments Or Proceeds. Except as otherwise described in this Section 2, all payments
<br />accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note;
<br />(h) priuclpal due under the Note; (e) amounts due uuder Section 3. Such payments shall be applied to each Periodic
<br />Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second
<br />to any other amounts due under this Security Instrument, and then to reduce the principal balanee of the Note.
<br />If Lender receiws a payment from Borrower for a delinquent Periodic Payment which includes a sufl1cleul
<br />amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If
<br />more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the
<br />repayment of the Periodic Payments if, and to the exteut that, e<lch payment can be paid in full. To the extent that
<br />any excess exists after the payment Is applied to the full payment of one or more Periodic Payments, such excess may
<br />be applied to any late charges doc. Voluntary prepayments shall be applied first to any prepayment charges and then
<br />as des(Tibed in the Note.
<br />Any application of paymellts, insuI'<lnce proceeds, or Miscellaueoos Proceeds to principal doe under the Note
<br />sh<lll not extend or postpone the due d<lte, or change the amount, of the Periodic Payments,
<br />3. Funds for Escrow Items, Borrower shall pay to Lender on the day Periodic Payments ~Ire due under the
<br />Note, until the Note Is paid in full, a sum (the "Funds") to provIde for payment of <llnounts due for: (<l) taxes and
<br />assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the
<br />Property; (b) leasehold payments or ground rents 011 the Property, if <lny; (c) premiums for any and all insurance
<br />required by Lender under Section 5; and (d) Mortg<lge Insurance premiums, if any, or any sums payable by Borrow\,.
<br />to Lender in lieo of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10.
<br />These items are called "Escrow Items." At origination or at auy tiIlle duriug the term of the Loan, Lender may require
<br />that Community Association Dnes, Fees, and Assessmellls, ifany, be eserowed 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
<br />onder this Section. Borrower shall pay Lender the Fonds for Escrow Items unless Lender waives Borrower's
<br />obligatiou to pay the Fonds for any or all Escrow Items. Lender m<lY w<live Borrower's obligation to pay to Lender
<br />Fonds for any or all Escrow Items at any time. Any such waiver may only be In writing. In the event of such waiver,
<br />Borrower shall pay directly, when and where payable, the amounts due for <lny Escrow Items for which payment of
<br />Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing soch payment
<br />within such time period as Lender may require. Borrower's obligation to make sueh payments and to provide receipts
<br />shall for all purposes be deemed to be a covenant and agreement contained in this Secority Instrument, as the phrase
<br />"covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to
<br />a waiver, and Borrower falls to pay the amount due for an Escrow Item, Lender Illay exercise its rights under Section
<br />9 and pay such amount and Borrower shall then be obligated under Seclion 9 to repay to Lender any such amount.
<br />Lender may revok,) the waiver as to any or all Escrow Items at any time by a notice gtven in accordance with Section
<br />15 and, upon soch revocation, Borrower shall P<lY to Lender all Funds, and in such amounts, that are then reqoired
<br />under this Section 3.
<br />Lender may, at any time, collect and hold Fuuds in an <lmount (<l) sufficient to permit Lender to apply the Funds
<br />at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA.
<br />Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures
<br />of future Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institotion whose deposits ~lre insured by a feder<ll <lgency, instrumentality, or
<br />entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan
<br />Bank. Lender shall apply the Funds to pay the Esnow Items no later than the time specified under RESPA. Lender
<br />shall not charge Borrower for holding and <lpplying the Funds, anmmlly <lnalyzing the escrow account, or verifying
<br />the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make
<br />such a charge. Unless <In "greement is made in writing or Applicable Law requires interest to be paid on the Funds,
<br />Lender shall not be required to pay Borrower any interest Or earnings on the Funds, Borrower and Lender can agree
<br />in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without ch<lrge, an
<br />annual accounting of the Funds as required by RESP A.
<br />If there is a surplus of Fuuds held in escrow, as defined under RESP A, Lender shall accoont to Borrower for
<br />the excess funds in aecordane\J with RESPA, If there is a shortage of Funds held in escrow, as defined under RESPA,
<br />Lender shall notify Borrower <lS required by RESPA, and Borrower shall pay to Lender the amount necessary to make
<br />up the shortage in accordauce with RESPA, but in no more than 12 monthly payments. If there is a deficieney of
<br />Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower
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<br />N~BRASKA--Single FamilyuFannie Mae/Freddie Mac UNifORM INSTRUMENT
<br />Form 3028 1/01 Page 3 of 11
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<br />DocMaglc ~~ 800"649.1362
<br />www.dCJcm8gic.cOffl
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