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<br />any payment or partial payment insu$icient to bring the Loan current, without waiver of any rights hereunder or prejudice to
<br />its rtghts to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the
<br />time such payments are accepted. If each Pertvdic Payment is applied as of its scheduled due date, then Lender need not pay
<br />interest vn unapplied funds. Lender may hold such unapplied funds until Burrower makes payment to bring the Lvan current.
<br />If Burrower does not do so within a reasonable period of time, Lender shall either apply such funds or return. them to
<br />Bvrrvwer. Ifnot applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately
<br />prior to foreclosure. Nv vfI'set or claim which Burrower might have now or in the future against Lender shall relieve
<br />Borrower from making payments due under the Notc and this Security Instrument or performing the covenants and
<br />agreements secured by thts Security instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Sectivn 2, all payments
<br />accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note;
<br />(b) rincipal due under the Note; (c) amounts due under Sectivn 3. Such payments shall be applied to each Periodic Payment
<br />m the order in which it became due. Any remaining amvunts shall be applied first to late ohatgcs, sccvnd to a„y other
<br />amounts due under this Security Instrument, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment from Burrower for a delinquent Pertodic Payment which includes a sul]icient amount
<br />to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one
<br />Fertodic Payment is outstanding, Lender may apply any payment received frvm Burrower tv the repayment of the Periodic
<br />Payments it and to the extent that, each payment can be paid in full. To the extent ihai any excess exists alter the payment is
<br />applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary
<br />prepayments shall be applied first to any prepayment charges and then as described in the Note.
<br />Any application ofpayments, insurance pproceeds, or Miscellaneous Proceeds tv principal due under the Nvtc
<br />shall not extend or postpone the due date, yr change the amvunt, of the Periodic Payments.
<br />3. !•unds for Escrow Items. Bvrrvwer shall pay tv L.,ender vn the day Periodic Payments are due under the Note,
<br />until the Note is paid in full, a sum (the "Funds") to prvvide for payment of amvunts due fur: (a) taxes and assessments and
<br />other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (h) leasehold
<br />payments ar ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under S(xtion 5;
<br />and (d) Mortgage Insurance premiums, tf any, or any sums payable by Borrower to Lender m lieu o the payment ofMortgage
<br />Insurance premiums in accordance with the provisions vf~Section 10. `these items are called "Escrow Items." At origination
<br />or at any time during the term ofthe Loan, Lender may require that Community Association Dues, Fees, and Assessments, if
<br />any, be escrowed by Borrower, and such dues, tees and assessments shall he an Escrow Item, Borrower shall promptly
<br />furnish to Lender all notices of amvunts tv be paid under this Section. Borrower shall pay Lender the F unds fur Escrvw Items
<br />unless Lender waives Borrower's vbligativn to pay the Funds for any or all Escrow items. bender may waive Borrower's
<br />vbligativn tv pay to Lender Funds fur any or all Escrow Items at any time. Any such waiver may only be in writing. In the
<br />event of such watver, Borrower shall ppay directly, when and where payable, the amounts due for any Escrow Items for which
<br />payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such
<br />payment within such time period as I.,ender may require. Borrower's vbligativn to make such payments and tv prvvide
<br />receipts shall fur all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase
<br />"covenant and agreement" is used in Sectivn 9. If Burrower is obligated to pay Escrvw items directly, pursuant to a waiver,
<br />and Borrower fails to pay the amount due for an Escrow Item, lender may exercise its rights under Section 9 and pay such
<br />amount and Borrower shall then be obligated under Sectivn 9 to repay to Lender any such amvunt. Lender may revoke the
<br />waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation,
<br />Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3.
<br />bender may, at any time, collect and hold Funds in an amount (a) suftgicient to permit Lender tv apply the Funds at
<br />the time specified under R1iSPA, and (b) not tv exceed the maximum amount a lender can require under RESPA. Lender
<br />shall estimate the amvunt of Funds due vn the basis of current data and reasonable estimates ofexpenditures offianrre Escrow
<br />Items or otherwise in accordance with Applicable Law.
<br />The Funds shall beheld in an institution whose deposits are insured by a federal agency, instrumentality, yr entity
<br />(including Lender, if Lender is an institution whose deposits are sv insured) or in any Federal Home Loan Bank. Lender shall
<br />apply the Funds tv pay the Escrow Items no later than the time specified under RF,SPA. Lender shall not charge Borrower
<br />for holding and applying the Funds, annually analyzing the escrow account, or verifying the L'scrow hems, unless Lender
<br />pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is
<br />made in writing or Applicable Law requires tnterest to he paid vn the Funds, Lender shall not be requited tv ppay Borrower
<br />any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the
<br />Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RF,SPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower fur the
<br />excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, lender
<br />shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the
<br />shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in
<br />escrow, as defined under RESPA, Lender shall notify Bvrrvwer as required by RESPA, and Bvrrvwer shall pay tv f _ender the
<br />amount necessary tv make up the deficiency in accordance with RESPA, but in no mere than 12 monthly payments.
<br />Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any
<br />Funds held by Lender.
<br />4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Property which can attain priority over this Security Instrument, leasehold payments or grqund rents on the Property, i f any,
<br />and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Bvrrvwer
<br />shall pay them in the manner provided in Sectivn 3.
<br />Burrower shall promptly discharge any lien which has priority aver this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment of the obit anon secured by the lien in a manner acceptable to Lender, but only so long as
<br />Borrower is performing such agreement; (b~ contests the lien in good faith by, or defends against enforcement oflhe lien in,
<br />legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are
<br />pending, but only until such proceedings are concluded; or (c) secures from the holder ofthe lien an agreement satistactoryto
<br />Lender subordinating the lien to this Security Instrument. Lf Lender determines that any part of the Property is subject to a
<br />lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within
<br />10 days of the date vn which that notice is given, Borrower shall satisfy the lien or take one or more ofthe actions set forth
<br />above in this Section 4.
<br />Fender may require Bvrrvwer to pay aone-lime charge for a real estate tax verification and/or reporting service
<br />used by Lender in connection with this Lvan.
<br />S. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against Ivss by fire, hazards included within the term "extended coverage," and any other hazards including, but not
<br />limited to, earthquakes and floods, for which Lender requires insurance. 'T'his insurance shall be maintained in the amounts
<br />(including deductible levels) and for the periods that Lender requires. What lender requires pursuant tv the preceding
<br />sentences can change during the term of the Loan. "I'he insurance carrier providing the insurance shall be chosen by
<br />Borrower subject to Lender's right to disapprove Borrower's choice, which right shall nut be exercised unreasonably.
<br />Lender may require Bvrrvwer to pay, in connection with this Loan, tither: (a) a one-time charge for rood zone
<br />determination, certification and tracking services; or (h) a one-time charge for flood zone determination and certification
<br />services and subsequent charges each trine remapptngs yr similar changes occur which reasonably might atfccl such
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INS'I'RLJMEN'P (MFRS) Form 3028 1/III (page 3 of8 pages)
<br />12479.CV (22/07) 689RR8SO40 Creative 't'hinking, loc.
<br />GOTG(0027562h)
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