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<br />200808980
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<br />acc.epted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds.
<br />Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within
<br />a reasonable period oftime, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will
<br />be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower
<br />might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security
<br />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 />applied by Lender 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 became
<br />due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument,
<br />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 />any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment
<br />is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the
<br />extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment
<br />of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied
<br />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 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 Note, until
<br />the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items
<br />which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground
<br />rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance
<br />premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance
<br />with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan,
<br />Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues,
<br />fees, and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under
<br />this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds
<br />for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any
<br />time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable,
<br />the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish
<br />to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such
<br />payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security
<br />Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly,
<br />pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section
<br />9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may
<br />revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such
<br />revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time
<br />specified under RESP A, and (b) not to exceed the maximum amount a lender can require under RESP A. Lender shall estimate the
<br />amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in
<br />accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including
<br />Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds
<br />to pay the Escrow Items no later than the time specified under RESP A. Lender shall not charge Borrower for holding and applying
<br />the Funds, annually analyzing the escrow account, or verifYing the Escrow Items, unless Lender pays Borrower interest on the Funds
<br />and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires
<br />interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and
<br />Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an
<br />annual accounting of the Funds as required by RESPA.
<br />Ifthere is a surplus of Funds held in escrow, as defined under RESP A, Lender shall account to Borrower for the excess
<br />funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify
<br />Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance
<br />with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA,
<br />Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the
<br />deficiency in accordance with RESPA, but in no more than 12 monthly payments.
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<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
<br />Form 3028 1/01 (Page 3 of 10 Pages)
<br />(R&A) RA0224478. siemers.ne - Rev. 11/14/2005
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