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<br />200700676
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<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
<br />pay when due the principal of, and Interest on, the debt evidenced by lhe NOle and any prepayment charges and late
<br />charges due under the Note, Borrower shall also pay funds for Escrow Items pursuant to Section 3, Payments due
<br />under thc Nole and this Security Instrument shall be made in U.S, cUITem:y. However, if any check or other
<br />Instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid.
<br />Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in
<br />one or more of the following forms, as selected by Lender; (a) cash: (b) money order: (e) cerUfied check, bank check,
<br />treasurer's check or cashier's check. provided any such check is drawn upon an institution whose deposits are insured
<br />by a federal agency, instrumentality, or enllty: or (d) Electronic Funds Transfer.
<br />Payments arc 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 pmvisions 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 current. without waiver of any rights
<br />hereunder or prejudice to its rights to refuse such payment or partial payments In the future, but Lender is not
<br />obligated to apply such payments at the time such payments are 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 />lime, 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 Immediately 1'1'101' to foreclosure. No offset or claim
<br />which Borrower might have now or In the future against Lender shall relieve Borrower l'rom 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 />(b) principal due under the Note; (e) amounts due under 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 olhcr amounts due under this Security Instrument, and then to reduce the principal balance of the NOle.
<br />If Lender receives a payment from Borrower for a delloquent Periodic Payment which includes a sufficient
<br />amount to pay any late charge due, the payment may be applied 10 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 extent that, each 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 due. Voluntary prepayments shall be applied first to any prepayment charges and then
<br />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 Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the
<br />Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for; (a) taxes and
<br />assessments and othcr items which can attain priority over this Security Instrument as a lien or encumbrance on lhe
<br />Property: (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance
<br />required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower
<br />to Lender In lieu 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 any time during the term ofthe Loan. Lender may require
<br />that Community ASSOciation Dues, Fees, and Assessments, ifany. be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Hem, Borrower shall promptly fumlsh to Lender all notices of amounts to be paid
<br />under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's
<br />obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender
<br />Funds 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 wheT(' payable. the amounts due for any Escrow Hems for which payment of
<br />Funds has been waived by Lender and, if Lender reqnires. shall furnish to Lender receipts evidencing such payment
<br />within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts
<br />shall for all purposes be deemed to be a covenant and agreement contained in this Security 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 fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section
<br />9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount,
<br />Lender may revoke the waiver as to any or all Escrow Items at ,my time by a notice given In accordance with Section
<br />15 and, upon such revocation, Borrower shall pay to Lender all Fnnds. and in such amounts, that arc then required
<br />under this Section 3,
<br />Lender may. at any time, collect and hold Funds in an amOUlll (a) sufficient to permit Lender to apply the Funds
<br />at the time specified under RESPA, and (b) not to exceed the IllaximuIll amount a lender can require under RESPA.
<br />Lender shall estimate the amount of Funds dne on the basis of current data and reasonable estimates of expenditures
<br />of future Escrow Items or olherwise In accordance with Applicable Law.
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<br />NEBRASKAuSingle FamilYuFannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS
<br />Form 302B 1/01 Page 3 of 10
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<br />OocMagic eF;iiXrorlf1:1; 80tJ-649-1 J62
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