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<br />200706265
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<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants wl1h
<br />limited variations by jurisdiction to constitute a uniform securlly instrument covering reai property.
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<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment ufPrlnclpal, Interest, EliCI'Ow Items, Prepayment Charges, and Late Charges. Borrower shall
<br />pay when due the princlpal of, and interest on, the debt evidenced by the Note 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 the Note and this Security Instrument shall be made in U.S. currem:y. Huwever, if any (:heck 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 ofthe following furms, as seleded by Lender: (a) l:ash; (b) money order; (l:) certified check, bank c.heck,
<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 agenl:y, instrumentality. or entity; or (d) Ele<:jronic Funds Transfer.
<br />Payments are deemed received by Lender when received at the iocation designated In the Note or at such ot.her
<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 L,ment, wllhout waiver of any rights
<br />hereunder or prejudice to its rights to refuse such payment or partial payments in the future, hot 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 />Il~ 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 immediately prior 10 foreclosore. No of(~et 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 />Z. Application of Payments or Proceeds. Except as otherwise described in this Settion 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: (c) amounts due under Section 3. Such payments shall be applied to each Periodi.c
<br />Payment in the order in whkh il betame due. Any remaining amOllnb shall be applied first to late tharges, second
<br />10 any other amounts due under this Security instrument, and Ihen to reduce the principal balance of the Note.
<br />lf Lender receives a payment from Borrower for a delinquent Periodic Payment whkh indudes a sutl1cient
<br />amount 10 pay any late charge doe, the payment may be applied to the delinquent payment and the late tharge. If
<br />more than one Periodic Payment is outstanding, Lender may appiy 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 thaI
<br />any eXI~S exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may
<br />be applied to any iate charges due. V otuntary prepayments sball be applied first to any prepayment charges and then
<br />as described in the Note.
<br />Any application of payment~, iosurante proceeds, or Miscellaneous Proceed~ to principal due under the Note
<br />shall not extend or postpone the due date. or change the amount, of the Periodk Payments.
<br />3. Funds for EIiCI'OW Items. Borrower shall pay 10 Lender on the day Periodic Paymenls are due under the
<br />Note. until the Note is paid in full, a sum (the "Funds") 10 provide for payment of amounts due for: (a) taxes and
<br />assessments and other items wbich can attain priority over this Security Instrument as a lien or encumbrance on the
<br />Property; (b) lea.'lehold 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 sum~ payable by Borruwer
<br />to Lender in lieu of the paymenl of Mortgage Insurance premiums in accordance wilh Ihe provisioJl,~ of Section 10.
<br />These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may reqoire
<br />that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower. and such dues. fees and
<br />a.~sessments shall be an Escrow lIem. Borrower shall promptly furnL~h to Lender all notices of amounts to be paid
<br />under this Section. Borrower shall pay Lender the Funds fur E.'iI:row Items unll'.~s Lender waives Borrower's
<br />ubligation to pay the Fuods for any or all Escrow lIems. Lender may waive Borrower's obligation 10 pay to Lender
<br />Funds for any or all Escrow Ilems at any lime. Any such waiver may unly be in writing, In the event of such waiver,
<br />Borrower shall pay directly. when and where payahle, the amuunts due for any Escrow Items for whicb payment of
<br />Funds has been waived by Lender and, if Lender requires, shall furnish 10 Lender receipts evldendng such payment
<br />within such time period as .Lender may require. Borrower's obligation 10 make such paymenls and to provide refeipts
<br />shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrumenl, a.~ the phrase
<br />"covenant and agreement" is tL~ed in Section 9. If Borrower is obligated to pay Estrow lIems directly, pursuant to
<br />a waiver, and Borrower fails 10 pay Ihe amount doe for an Escrow hem, Lender may exercise it~ rights under Section
<br />9 and pay sutb amount and Borrower shall then be obligated under Section 9 to repay 10 Lender any such amount,
<br />Lender may revoke the waIver as to any or all Escrow lIems at any time by a notice given in accordance with Section
<br />15 and, upun such revOl:ation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required
<br />under this Section 3.
<br />Lender may, at any time, tollett aod hoid Funds in an amount (a) sofficient to perolit 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 lIems or otherwise in accordance with Applicable Law.
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<br />NEBRASKA..Single Family..Famie Mae/Freddie Mac UNIFORM.'INSTRUMENT. MERS
<br />Form 3028 1/01 Page 3 of 11
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<br />/'JocMIIgic ei':.WfI']fIlI) lJ(){).64'- 1362
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