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20100440E
<br />Payments are deemed received by Lender when received at the location designated in the Note or at such other location
<br />as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or
<br />partial payment. if the payment or partial payments are insufficient to bring the Loan current. Lender may accept atay payment
<br />or partial payment insufficient to bring the Loan can-ent, without waiver of any rights hereunder or prejudice to its rights to
<br />refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such
<br />payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on
<br />unapplied funds. Lender may hold such. unapplied funds until Borrower makes payments to bring the Loan current. 1f
<br />Borrower does not do sn within a reasonable period of time, Lender shall either apply such funds nr return them to Borrower. If
<br />not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to
<br />foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from
<br />making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by
<br />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) prncipal 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 due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this
<br />Security 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 />any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic
<br />Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if,
<br />and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the
<br />full payment of nne or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments
<br />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 raider the Note shall not
<br />extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. Duds for Escro~r~ Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the
<br />Note is paid in full, a sum (the "Funds") to provide for payment of amounts due fox: (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
<br />ground rents on the Property, if arty; (c) premiums for any and all insurance required by Lender under Section 5; and (d)
<br />Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
<br />Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or
<br />at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if arty,
<br />be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item, Barrower shall promptly furnish to
<br />Lender all notices of amounts to be paid under this Section, Borrower shall pay Lender the Funds far Escrow Items unless
<br />Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to
<br />pay to Lender Funds for any ar all Escrow Items at any time. Arty such waiver may only be in writing. In the event of such
<br />waiver, Harrower shall pay directly, when and where payable, the amounts due For any Escrow Items for which payment of
<br />Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within
<br />such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all
<br />purposes be deemed to be a covenant and agreement contained in this Security hnstrument, as the phrase "covenant and
<br />agreement" is used in Section 9, If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails
<br />to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower
<br />shall then. be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any ar all
<br />Escrow Items ai any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to
<br />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 )tESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate
<br />the amowrt of Funds due an the basis of current data turd reasonable estimates of expenditures oP future Escrow Items or
<br />otherwise in accordance with Applicable Law.
<br />NEBRASKA -Single Family -Fannie MaeiFreddie Mac UNIFORM INSTRUMENT
<br />~~1N~ ~osiii aaye awia mi~iais: Fvrm 3026 1/D1
<br />DDS-vNl/9
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