|
<br />200800367
<br />
<br />IHyment if the paymcnt or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial
<br />payment insufficient to bring thc Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such
<br />paYlllent or partial p,tyments in the future, but Lender is not obligated to apply such payments at the time such payments are
<br />accepted. If cach Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplicd funds.
<br />Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so
<br />within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such
<br />fllnds will be applied to the outstanding principal balance under the Note inmlediately prior to foreclosure. No offset or claim
<br />which Borrower might have now or in the future against Lender shall relieve 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 and
<br />applicd by I "ender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the
<br />Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it
<br />became duc. Any remaining amounts shall be applied first to late charges, second to any other amounts due undcr this Security
<br />Instrument, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay
<br />mlY late charge due, the paymcnt may be applied to the delinquent payment and the late charge. If more than onc Periodic
<br />Payment is out~tanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if,
<br />and to the extent that, cach payment can be paid in full. To the extent that any excess exists after the payment is applied to the
<br />full paymcnt of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments
<br />shall bc 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 duc under the Note shall not
<br />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 Notc, until
<br />the Notc is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments mld other
<br />items which can attain priority over tlus Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or
<br />ground rents on the Property, if any; and (c) premiums for mlY and all insurance required by Lender under Section 5. These items
<br />are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community
<br />Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an
<br />Escrow Item. Borrower shall promptly fumish to Lender all notices of amounts to be paid under this Section. Borrower shall pay
<br />Lendcr the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for mlY or all Escrow Items.
<br />Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver mlty
<br />only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any
<br />Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall fumish to Lender receipts
<br />cvidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments mld to
<br />provide receipts shall for all purposes be deemed to be a covenmlt and agreement contained in this Security Instrument., as the
<br />phrase "covenant lU1d agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant. to a
<br />waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay
<br />snch amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may rcvoke the
<br />waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 14 and, upon such revocation,
<br />Borrower shall pay 10 Lender all Funds, and in such amounts, that are then required under this Section 3.
<br />Lcnder may, at any time, collect mld hold Funds in ml amount (a) sufficient to permit Lender to apply the Funds at. the
<br />time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall
<br />estimale the amount of Funds due on tile basis of current data and reasonable estimates of expenditures of future Escrow Items
<br />or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity
<br />(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bmlk. Lender shall
<br />apply the Funds to pay the Escrow Items no later thml the time specified under RESPA. Lender shall not charge Borrower for
<br />holding and applying the Funds, annually analyzing tile escrow account, or verifying the Escrow Items, unless Lender pays
<br />Borrowcr intcrest on the Funds and Applicable Law pernuts Lender to make such a charge. Unless an agreement is made in
<br />writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest
<br />or eamings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender
<br />shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA.
<br />If thcre is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess
<br />funds in accordance with RESP A. If there is a shortage of Funds held in escrow, as defined under RESP A, Lender shall notify
<br />
<br />NEBRASKA-Single Family-UNIFORM INSTRUMENT
<br />
<br />ITEM T2697L4 (030B)-MERS
<br />
<br />{Page 4 of 11 pages}
<br />
<br />GRE;ATLAND.
<br />To Order Call; 1-800-530-9393 0 Fax: 616-791-1131
<br />
<br />~
<br />
|