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<br />200701002
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<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges.
<br />RorTOwer shall pay when due the principal or, and 1l1tcrcsl on, the debt ",videneed by the Note and any
<br />prepayment charges and late ebarges due under the Note. Ilorrower shall also pay funds for Escrow
<br />Ilems pursuant to Section J. Payments due under th", Nole and ttns Security Instrument shall be mad", in
<br />U.S. currency. nowevcr, if any check or other instrument received by Lender as payment under the Note
<br />or this Seeunty Instrument is rctumed to Lender unpaid, Lender may require thaI. any or all subsel(uent
<br />payments due under the Note and this Security Instrument be made 111 one or more or the following
<br />forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check
<br />or cashier's check, provided any such chcek is dra".11 upon an institution whose deposits arc insured by a
<br />federal agency, lI1strumentahty, or entity; or (d) Eleclronlc Funds Transfer.
<br />Payments are deemed received by Lender when received at the location designatcd in the Note
<br />or at such other locution as may be designated by Lender in accordance with the noticc provislOns in
<br />Section IS, Lender may return any payment or partial payment if the payment or partial paymenb are
<br />lI1sulTieient to bring the Loan current. l,ender may accept any payment or partial payment insurricient 10
<br />bring the [,oan current, without waiver of any rights hereunder or prejudice to its rights to reruse such
<br />payment or partial payments in the future, but Lender IS not obligated to apply such payments at the time
<br />such payments are accepted. II' each Periodic Payment is applIed as or its schcduled due date, then
<br />Lender need not pay interest on lmapplied funds. Lender may hold such unapplied funds until Borrower
<br />makes payment to bring the Loan eUlTent. If Borrower docs not do so within a reasonable period or time,
<br />I,cnder shall either apply such rum Is or rdum them to 13orrower. I I' nol applied earlier, such runds will be
<br />applied to the outstanding prinCipal balance under the Note immediately pnor to foreclosure. No orrset or
<br />claim which Borrower might have now or in the ruture against Lender shall relieve BO!Tower from
<br />making payments duc under the Note and this Security Instnlment or pert'l)rming the covenants and
<br />agreements secured by this Security Instrument.
<br />2. Apllliclltion of Payments or Proeceds. Except as otherWIse described in this Section 2, all
<br />payments acccpted and applied by Lender shall be applied in the following order of priority (a) interest
<br />due lUlder the Note; (b) principal due under the Note; (c) amounts due under Section 1. Such payments
<br />shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts
<br />shall he applied first to late charges, second to any other amounts due under this Security Instrument, and
<br />then to reduce the pnneipal balance of the Note.
<br />If Lender receives a payment rrom Ilorrower t'l)r a delinquent Periodic Payment whICh llleludes a
<br />surficient amount to pay any late charge due, the payment may be applied to the delinquent payment and
<br />the late charge. If more than one Pellodic Payment IS outstanding, I,ender may apply any payment
<br />received from Don'ower to the repayment or the Pcriodic Payments if, and to tht: t:xlent that, each
<br />payment can be paid in rull. To the extcnt that any excess CXIStS aCter the payment is applied to thc full
<br />payment of one or more Periodic Payments, such excess may be applied to any late charges due.
<br />Voluntary prepayments shall be applied first to any prepayment charges and then as describcd in the
<br />Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due
<br />under the Note shall not extend or postpone the due date, or change the amount, or the PerIodic Payments.
<br />3. Funds for Escrow Items. BO!Tower shall pay to Lender on the day Periodic Payments are
<br />due under the Note, Ulltil the Note IS paid in rull, a sum (the "Funds") to provide for payment of amounts
<br />due t()f: (a) taxes and assessments and other items which can attain priority over this Security Instrument
<br />as a lien or encumbrance on the Property; (h) leasehold payments or ground rents oTlthe Property, ir any;
<br />(0) premiums for any and all insurance required by I,ender under Scetion 5; and (d) Mortgage Insurance
<br />premiums, if any, or any Silins payable by Borrower to Lendcr in lieu of the payment of Mortgage
<br />Insurance premiums in accordance with the provisions of Section I n, These items are called "Escrow
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<br />N~:HRASKA - Single Family - Fannie Mae/Fl'eddie .\-be l.i:'olIFORM INSTRI.IM~:NT WITH MERS FOl'ln 3028 1/01
<br />VMP-6A(NE) (0407).0] Page 4 Dr 1 Ii .dJt i"rD
<br />Initiat,: j,:L) 'UD
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