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,'-:-..'---.'. ~-- nn__-i 200809974 I Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any ! payment or partial payment ifthe payment or partial payments are insufficient to bring the Loan current. Lender may accept I any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to I' its rIghts to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay , interest on unapplied funds, Lender may hold such unapplied funds until Borrower makes payment to bring the Loan (,,'urrent. Ii If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to I Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately I prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve I Borrower from making payments due under the Note and this Security Instrument or perfonning the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments I accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment I in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. I If Lender receives a payment from Horrower for a delinquent Periodic Payment which includes a sufticient amount I to pay any late charge due, the payment may be applied to the delinlJ,uent payment and the late charge. If more than, one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if: and to the extent that, each payment can be paid in full. To the extent that any excess exists after the paYTnent is I applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary I prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note I shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until 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 which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lcnder in lieu ofthe payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the teml ofthe Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds 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 time. Any such waiver may only be in writing. In the, event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrowcr's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and a~eement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower faIls to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at anytime by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to pennit Lender to apply the Funds at the time specified under RESP A, and (b) not to exceed the maximum amount a lender can require under RESP A. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures offuture Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federalllome Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law pennits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESP A. Ifthere is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESP A. Ifthere is a shortage of Funds held in escrow, as defined under RESP A, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESP A, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESP A, Lender shall notify Borrower as required by RESP A, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESP A, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. , . . . . 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and nnposlllons attnbutable to the Property which can attain priority over this Security Instrument, leasehold payments or gn?lllld rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these Items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. . BO!1:ower shall promptly dischaq!;e a!1y lien which has p~ior!ty over this Security Instrument unless Borrower: (a) agrees 111 wntmg to the payment of the obhgatIon secured .by ~he hen lIl.a manner acceptable .to Lender, but only so I?ng ,as Borrower is performing such agreement;. (~) contests the hen 111 good faith by, or defends a~amst ~nforcement ofth~ hen m, legal proceedings which in Lender'.s opllllon operate to prevent the ~nforcement of the he!1 wl1lle those proceed!ngs are pending, but only until such proceedmgs ar~ concluded; or (c) secures from H?e holder ofthe hen an agreement .satls~ctory to ~ender .subordinati~g the l.ien to this. Secunty Instrument. If Lender detet,lnmes that any pa~ o~the Property IS .subJect. to. a hen wl1lch can attam pnorIty over thIS Secunty Instrument, Lender Illay give BOrI'ower a notIce Idenl1fying thellen, Wlthm 10 days ofthe date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actIOns set forth above in this Section 4, Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. S. Property Insurance. Borrower shall keep the improvements now existing or hereafter crect~d on t~le Property insured against loss by fire, hazards inclu~ed within the te~ '~extended cov~r~ge," and any other ha~ard.s lllc)udmg, but not limited to, earthquakes and floods, for which Lender reqUIres msura~ce. 1111s IIlsurance shal~ be mamtamed m the amou.nts (including deductible levels) and for the periods that Lend,er reqUIres. ~hat Le~d~r requires pursuant to the precedmg sentences can change during the tenn o.f the Loan, The lIl~uranc.e caIT1~r pn;IVldmg the IIlsurance ~hall be chosen by Borrower subject to Lender's right to dIsapprove Borrower s chOIce, winch nght shall not be exeTCIsed unreasonably. NEBRASKA-Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT 9754.CV (1/08) 6898644740 Form 3028 1/01 (page 3 of 8 pages) Crcallve Thinking, Inc. GO'lO(OO I baOb5)