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200901250 ~ny payment or partial payment insulftcient to bring the Loan current, without waiver of any rights hereunder or prejudice to 1!S nghts to refuse such payment or partial pa~ents in the future. but Lender is not obligated to apply such payments at the !1Jne such paymen!S are accepted. If each Penodic Payme~t is applied <l;S'ofits scheduled due date, then Lender need not pay mterest on unapphed funds. Le!1d~r may hold such un~pplIed funds until Borrower makes payment to bring the Loan current If Borrower does no! do so .wlthin a reason~ble peno~ of time, Lender shall either apply such funds or return them to B~rrower, Ifnot applIed earher, such ~nds w.lll be applIed to ~e outstanding principal balance under the Note immediately &nor to foreclosure. . No offset or claim whIch Borrower might have now or in the future against Lender shall relieve orrower from making I?ayments due under the Note and this Security Instrument or perfonning the covenants and agreements secured by thiS Security Instrument. 2. App~cation of Payments or Pr~ceeds. Except as otherwise described in this Section 2. aU payments accep!ed. and apphed by Lender shall be apphed in the f?llowing order of priority: (a) interest due under the Note; ~b) pnnclpal.due u!1de~ the Note: (c) amounts du~ u,nder Secllon 3. Such payments shall be applied to each Periodic Payment III the order m wluch.lt beca~e due, Any remammg amounts shall ~e applied first to late charges, second 10 any other amounts due under thiS Secunty Instrument, and then to reduce the pnncipal balance of the Note, If Lender receives a payment from Borrower for a delinquent Penodic Payment which includes a sufficient amount to ~ay .any late ch~ge due, lI'!e payment may be applied to the delinquent payment and the late charge. If more than one PenodlC P~ymentls outstandmg, Lender may apply any payment received from Borrower to the repayment of the Periodic Pa~ents l~ and to the extent that, each paym~nt~an be paid in full. To the extent that any excess exists after the payment is apphed to the full payment .of one or more Penodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applIed first to any prepayment charges and then as described in the Note. Any apphcation of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. . 3. ~un~s !or Escrow Items. Bo~~er shall pay to Lender on the day Periodic Payments are due under the Note. unul the Note IS paid III 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 Propert.>:. ifany: (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortga~e Insurance premiums, If any. or any sums payable by Borrower to Lender III lieu of the payment ofMortgage Insurance premIums in accordance with the provisions of Section 10. These items are called "Escrow Items," At origination or at any time during the tenn of the Loan, Lender may requirethat 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 FW1ds for Escrow Items unI~ss Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obhgation 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 amount'! 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. Borrower'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 agreemem" 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 ma~ 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 any time 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 permit Lender to apply the Funds at the time specified underRESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures offutuR: Escrow Iterns or otherwise in accordance with Applicable Law. .. . .- The Funds shall be held in an institution whose deposits are insured by a federal aaency. instrumentality, or entity (including Lender. if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESP A. 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 permits Lender to make such a charge. Unless an agreemem is made in writing or Applicable Law requires mterest 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 inwriting, 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 RESPA. If there is a surplus of Funds held in escrow, as defined under RESP A, Lender shall account to Borrower for the excess funds in accordance with RESP A. If there is a shortage of Funds held in escrow, as defined under RESP A, Lender shall notifY Borrower as required by RESPA, 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 req uired 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 ofall sums secured by this Security Instrument, lender shall prornptlyrefutid to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines. and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any. and Community Association Dues, Fees, and Assessments, ifany. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the oblitlation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is perfonning such agreement; (b) contests the lien in good faith by. or defends a~ainst enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lIen while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfuctory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Secunty Instrument, Lender may give Borrower a notice identitying the lien. Within IO days of the date on which that notice is given. Borrower shall satisty 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. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire. hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods. for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender r~quires pursuant to the preceding sentences can change during the tenn of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one~time charge for flood zone detennination. certification and tracking services: or (b) a one. time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such NEBRASKA-Sinsle Family-Fannie Mae/Freddie Mac UNIFORMINSfRUMENT 12439.CV (IIJ07) 4200244 (MERS) Form 3028 t/Ol (pageJ 0/8 pages) Creatin Thinking. Inc. GOTO(OOla6a89) au