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<br />200707117
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<br />payment if the payment Of p"rtial payments arc insnffici"nt to bring the Loan C\IlTe.nt. Le.ndcr may accept any payment or v,utial
<br />paYlll"nt insufficicnt to hring tile Loan current, withuut w,uv",", of lUlY rights hel"Cl1nder or pcejl1dice to its rights to rchlSC sl1ch
<br />paymcnt 01' p""tja! payments in the futun;, bllt. Lender is not obligated to apply Nllch paYT1lellt~ at. the t.ime snch p"ymonls IIrc
<br />Rccepten. If cRch Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest onunapphed funds.
<br />Lcmler may hold such unapplied fund.. until Borrower make.. payment. to bring the Loan current. If Borrower dOell not do "0
<br />witbju a r"lISonab1e period of time, Lcnckr sh1l11 either apply such funds or return thelllto Borrower. If not applicd earlier, such
<br />funds will be applied to the outstanrong princip1l1 balance under the Note immediat.ely prior to foreclosure. No offset or elaim
<br />which Borrower might have now or in the futun, against Lender shalll'elieve Borrower from making payments due under the
<br />Note and this Security Instrument 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 "lid
<br />applied by Lender shall be applied in the following order of priority: (a) interest tlue uud... th" Notc; (b) principal duc under the
<br />Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Paymont in the order in which it
<br />became due, Any remaining amounts shaU he appHod first to late charges, second to any other amounts due under this Security
<br />Instrument, and then to reduce the princip1l1 balance of tbe Note.
<br />If Lender receives a payment from BOlTOWol' for a delinquent Periodic Payment which includes a sufficient alTlount to pay
<br />any late charge due, the payment may be applied to the delimluent payment and the late charge. If more than one Periodic
<br />Payment is outstanding, Leuder may apply any payment received from Borrower to the repayment of the Periodic Pay""""ts if,
<br />and to thc extent that, eAch payment can be paid in full. To the extent that any excess exists after the payment is applied to the
<br />full payment of one or more Periodic Payments, such excess tuay be applied to any late charges due. Voluntary prepayments
<br />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 nnder the Now shall not
<br />ext,,"d or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Es<:l"OW Hems. Borrower shall pay to Lender on lh<:l day Periodic Payments are due under the Note, ulItil
<br />the Note is paid in full, a Sl1m (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and oth~r
<br />items which can attain priority over tllis Security Inshumellt as a lien or encumbrance on Ille Property; (b) leasehold payments
<br />or ground rents on Ille Property, if any; (c) premiums for any l\lJd all insuralll:e required by Lender under Section 5; and
<br />(d) Mortgage Tnsmance premiums, if allY, or any sUms payable by Borrower to Lender in lieu of the paYIlleut of Mortgage
<br />Insurance premiums in accordllI1ce with the provisions of Section 10. These items are callcd "Escrow Items," At origination or
<br />at any time during the term of the Loan, Lender llIay require that Community Association Dues, Fees, and As",'ssrnents, if any,
<br />be esCl'owed by Borrower, and such dues, fees and assessments sh1l1l be an Escrow Item. Borrower shall promptly fumish to
<br />Lender all notices of anlOunts to he paid under this Section. Bonnwer shall pay L"nd... t1l<1 Funds [or Escrow Items unless
<br />Lender waiv~ Borrower's obligation to pay the Fundsfor any or all Escrow Items. Lender may waive Borrower's obligation to
<br />pay to Lcnder Funds [01' any llf all Escrow Items at any time. Any such waiver may only be in writing. In the event of such
<br />waiver, Borrower sh1l11 pay directly, when and when\ payable, the amounts due for any Escrow Items for which payment of
<br />Funds has been waived by Lender and, if Lender requires, shall fnmish to Lender receipts evidencing such payment within
<br />such time period as Lender may require. Borrower's obligation t.o make such payments and to provide receipts shall for all
<br />pnrposes be deemed to be a covenant and agreement contained in this Security Illstnullellt, as the phra.~e "covenant and
<br />agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower
<br />fails to pay the amonnt due for all Escrow Item, Lender may exercise its Tights u1ld'1" Section 9 and pay such amount .nd
<br />Borrower shall t.hen be obligated under Section 9 to repay to Lender any such lIlIIount. Lender may revoke the waiver as to any
<br />or all Escrow ltems at any time by a notice given in accordance with SectiOll 15 and, upon such revocation, Borrower sh.ll pay
<br />to Leud"r all P\mds, and in such amounts, that are then required under this Section 3.
<br />Lender may, Many time, collect. and h01<l Funds in l\lJ <Ullonnt (a) sufficient to permit Lemler to apply the Fund. at t.he
<br />time specified under RESPA, and (b) not to exceed the maximum amount a lender call require nuder RESPA. Lender shall
<br />estimate the alllount of fo\.nds due on the basis of current. data and reasoIlable estimates of expenditures of future Escrow Items
<br />or otherwise in accordance with Applicable Law,
<br />11.,e Fumls shall be to"ld hi an institution whose deposils are insured by a fedor1l1 agency, instrumentality, or entity
<br />(including Lender, if Lender is IIn institution whose deposits are so insured) or in any Federal Home Lllan Bank. Lender shall
<br />apply the Funds to pay the Escrow Items no latcr than the time specified under RESPA. Lenrler shall not charge Borrowcr for
<br />holding and applyiug the founds, a1lllu.u1y analyziug the escrow account, or verifying tlle Escrow Items, unless Lender pays
<br />Borrow,r interest On the Funds and Applicable Law permits Lender to lllllke such a charge. Unl,,"" an a&'feell1ent is Illade in
<br />writing Or Applicable Law requires interest to be paid on \be Funds, Lender shall nol he re'luired to pay Borrower any interest
<br />or earnings on the Funds. Borrower and Lender Can agree in writing. however, that interest sh1l1l be paid on the Funds. Lender
<br />shall give to Borrower, without charge, an Rnnualaccounting of the Punds..., required by RESPA.
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<br />NBBRASKA-Si"gle P"llIily-Fonnle Mae!l<'""hU. Mae UND'OID<I INSTRUMFNf
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<br />~ T2Mal,4 (03Oa)-MEns
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<br />(Poge 4 of 12 pages)
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<br />Form 3028 1/01
<br />GREATI.AND .
<br />ID order 011.11: 1...ooo-s...10-9S93 0 Fax: 811i7791.1131
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