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<br />200710087
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<br />Payments are deemed received by Lender when received at the lucation designated in tbe Note or at such other
<br />location as may be designated by Lender in accordance witb the notice provisions in Section IS. Lender may rerum any
<br />payment or partial paymenl if the paymenl or partial paymenls are insufficient to bring the Loan current. Lender may accept
<br />any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or pr"judice tu
<br />its rights to refuse such payment or partial payments in the furure, but Lender is not obligated to apply such payments at the
<br />time such paymenls are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay
<br />interest on unapplied funds. Lender may huld such unapplied funds until Borrower makes paymentto bring the Loan current
<br />If Borruwer docs not do su within a reasonable period of time, Lender shall either apply such funds or return them to
<br />Burrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately
<br />prior tu foreclosure. Nu offset or claim which Borrower might have nOW or in the future against Lender shall relieve
<br />Burrower tram making l;'ayments due under the Note and this Securiry Instrument or perfonning the covenants and
<br />agreements secured by thIS SecurilY Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise described in tliis 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 unde~ the Nule; (c) amounts due under Section 3. Such payments shall he applied to each Periodic Payment
<br />111 the order 111 which It became due. Any remammg amounts shall be applied first to late charges, second tu any other
<br />amounts due under this Security Instrument, and then to reduce the principal balance ofthe 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 one
<br />Periodic Payment is outstanding, Lender may apply any payment received tram Borruwcr to the repayment ofthe Periodic
<br />Payments if, and to the extent that, each payment can be paid in full. To the extent that any exceSS exists after the payment is
<br />applied to the full paymenl of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary
<br />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 Nute
<br />shall not extend or poslpone 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 />unlit the Note is paid in full, a sum (the "Funds") tu provide for payment of amounts due for: (a) taxeS and assessments and
<br />uther items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold
<br />payments or ground rents un the Property, if any; (c) premimns for any and all insurance required by Lender 1I11der Section 5;
<br />and (d) Mortgage Insurance prell1imns, if any, or any smns payable by Borrower to Lender in lieu of the payment of Mortgage
<br />Insurance prenlimns in accordance with the provisions of See lion 10. These items are called "Escrow Items." Alorigination
<br />or at any time during the ternl of the Loan, Lender may reqnire that Cummunity Assuciation Dues, Fees, and Assessments, if
<br />any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly
<br />furnish to Lender all notices of amounts to be paid under this Sectiun. Borrower shall pay Lender the Funds for Escrow Items
<br />unless Lender waives Borrower's obligatiun to pay the Funds for any or all Escrow Items. Lender may waive Burrower's
<br />obligation to pay to Lender Funds for any or all Escrow Items al anytime. Any such waiver may only be in writing. In the
<br />event of such waiver. Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which
<br />payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such
<br />payment within such time period as Lender may require. Borrower's ubligation to make such payments and to provide
<br />receipts shall for all purposes be deemed to be a covenant and agreement contained in this Seeuriry Instrument, as the phrase
<br />"covenanl. and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver,
<br />and Borrower fails to pay tile amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such
<br />amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the
<br />waiver as to any ur all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation,
<br />Borrower shall pay to Lender all Funds, and in such amounts, that arc then reguired under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (al suffteient to permit Lender tu apply the Funds at
<br />the time specified under RESP A, and (b) not to exceed the maximum amount a lender can require under RESP A. Lender
<br />shall estimate the amount of Funds due on the basis of current data and reasonable estimates uf expendirures of future Escrow
<br />Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an instit.ution whose deposits are insured by a federal agency, instrumentality, or entiry
<br />(including Lender, if Lender is an instilUlion whose deposits are so insured) or in any federal Home Loan Bank. Lender shall
<br />apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower
<br />for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender
<br />pays Borrower interesl on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is
<br />made in writing ur Applicable Law requires mterest to be paid on the Funds, Lender shall not be required to pay Borrower
<br />any interest or earnings on the Funds. Borrower and Lender can agree in writing, huwevcr, that interest shall be paid on the
<br />Funds. Lender shall give tu Borrower, withuut charge, an annual accounting of lhe Funds as required by RESP A.
<br />If there is a surplus of Funds held in escrow, as defined under RES!'A, Lender shall account to Borrower fur the
<br />excess funds in accordance with RES!'A. Iflhere is a shortage of Funds held in escrow, as defined under RESPA, Lendet
<br />shall nutify Borrower as required by RESP A, and Borrower shall pay tu Lender the amounl necessary tu make up the
<br />shortage in accordance with RESPA, but in nO more than 12 monthly payments. Ifthere is a deficiency of Funds held in
<br />escrow, as defined under RESP A, Lender shall notify Borrower as reqUIred by RESP A, alld Borrower shall pay 10 Lender the
<br />amount necessaty to make up the deficiency in accordance with RESP A, but in no more than 12 monlhly payments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any
<br />Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Property whicb can attain prioriry over this Seeuriry Instrument, leasehold payments or ground rents on the Properly, if any,
<br />and Community Assuciation Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower
<br />shall pay them in lhe manner provided in Section 3.
<br />Borrower shall promptly disehar\\e any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment ofthe obhgation secured by the lien in a manner acceptable to Lender, but only so long as
<br />Borrower is pertomling such agreement; (b) contests the lien in good faith by, or defends a\lainsl enforcement oflhe lien in,
<br />legal proceedings which in Lender's opinion uperate to prevent the enforcement of the hen while those proceedings are
<br />pending, but only until soeh proceedings are concluded; Or (c) secures from the holder of the lien an agreement satisfuetoryto
<br />Lender suburdinating the lien lO this SecurilY Instrument. If Lender determines that any part oflhe Property is subject to a
<br />lien which can attain priority over this Securiry Instrument, Lender may give Borrower a notice identifying the lien. Within
<br />10 days ofthe date on which that notice is given, Burrower shall satisfy the lien or take onc or more of the actions set forth
<br />abuve in this Sectiun 4.
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service
<br />used by Lender in connection with this Loan.
<br />S.Property Insurance. Borrower shall keep the improvements now exisling or hereafter erected on the Property
<br />insured againslloss hy fire, hazards included within the term "extended coverage," and any other hazards including, but not
<br />limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall he maintained in the amounts
<br />(including deductible levels) and for the periods that Lender requires. What Lender requires pursuant tu the preceding
<br />sentences can change durin~ the term uf the Loan. The insurance carrier providing the insurance shall be chosen by
<br />Borrower subject to Lender s righl to disapprove Borrower's chuiee, which right shall not be exercised unreasonably.
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<br />NEBRASKA-Single Family-F...te Mae/Freddie Mae U"IIFORM INST/WMENT
<br />9754.CV (1105) 689850'040
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<br />Form 3028 IIOt (pail" 3 of"N page.<)
<br />Creative Thinking, Inc.
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<br />nOTO(OOI68S"l
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