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<br />200700602
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<br />VI WBCD LOAN # 501309010
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
<br />limited variations by jurisdiction to constitute a uniform security instrument covering real property.
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay
<br />when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges
<br />due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the
<br />Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received
<br />by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that
<br />any or all subsequent payments due under the Note and this Security Instrument be made in one or more ofthefollowing
<br />forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's
<br />check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency,
<br />instrumentality, or entity; or (d) Electronic Funds Transfer.
<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 any
<br />payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may
<br />accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or
<br />prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such
<br />payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date,
<br />then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes
<br />payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either
<br />apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal
<br />balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the
<br />future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument
<br />or performing the covenants and agreements secured by 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
<br />due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the
<br />order in which it became due. Any remaining amounts shall be applied firstto late charges, second to any other amounts
<br />due under 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
<br />to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than
<br />one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the
<br />Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after
<br />the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late
<br />charges due. Voluntary 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
<br />not 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
<br />and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b)
<br />leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender
<br />under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of
<br />the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called
<br />"Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association
<br />Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an
<br />Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower
<br />shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or
<br />all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time.
<br />Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable,
<br />the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires,
<br />shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's
<br />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
<br />Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for
<br />an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be
<br />obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow
<br />Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to
<br />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
<br />the time specified under RESPA, and (b) notto exceed the maximum amount a lender can require under RESPA. Lender
<br />shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures offuture
<br />Escrow 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
<br />shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge
<br />Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items,
<br />unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless
<br />an agreement is made in writing or Applicable Law requires interestto be paid on the Funds, Lender shall not be required
<br />to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting oHhe Funds as required
<br />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 funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender
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<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 30281/01 Ini tials *~5 \J(\
<br />@ 1999-2004 Online Documents, Inc. Page 3 of 9 NEEDEED 0402
<br />01-16-2007 17*27
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