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201�0�481
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
<br />limited variations by jurisdiction to cvnstitute a uniforrn security instrurnent covering real property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Ck�arges. Borrower shall
<br />pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late
<br />charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payznents due
<br />under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other
<br />instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid,
<br />Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in
<br />one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certi�ed check, bank check,
<br />treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured
<br />by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
<br />Payments are deemed received by Lender when rec�ived at the location designated in the Note or at such other
<br />locatian as rnay be designated by Lender in accardance with the notice provisions in Section 15. Lender may return
<br />any payment or partial payment if the payment or partial paym�nts are insufficient to bring the Loan current. Lender
<br />may accept any paymenC or partial pay►nent insufficient to bring the Loan current, without waiver of any rights
<br />hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not
<br />obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of
<br />its scheduled due date, then Lender ne�d not pay interest on unapplied funds. Lender may hold such unapplied funds
<br />until Borrower makes payment to bring the Loan current. If Borrower does nat do so within a reasonable period of
<br />time, L,ender shall either apply such funds or return tk�em to Borrower. If not applied earlier, such funds will be
<br />applied to the outstanding principal balance under Che Note irnmediately prior to foreclosure. No offset or claim
<br />which Borrower nnight have now or in the future against Lender sha11 relieve Borrower from making payments due
<br />under the Note and this Security Instrument or performing the covenants and agreements secured by this Security
<br />Instrument.
<br />2. Application af Payrnents or Proceeds. �xcept as otherwise described in this Section 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) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic
<br />Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second
<br />to any other amounts due under this 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
<br />amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. lf
<br />more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the
<br />repayrnent of the Peciodic Payments if, and to the extent that, each payment can be paid in full. To the extent that
<br />any excess exists after the payment is applied to the full payment of one or more Periodic Payrr►ents, such excess may
<br />be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then
<br />as described in the Note.
<br />Any application of payments, insurance proceeds, or IVliscellaneous Proceeds to principal due under the Note
<br />shall not 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
<br />Note, until the Note is paid in full, a suzx� (the "Funds") ta provide for payment of amounts due for: (a) taxes and
<br />assessments and other items which can attain priority over this Security Instrument as a lien ar encuznbrance on Che
<br />Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiurns for any and all insurance
<br />required by Lender under Sectian 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower
<br />to Lender in lieu of the payment of Mortgage lnsurance prerniums in accardance with the provisions of Section 10.
<br />These items are called "Escrow Items. " At origination or at any time during the term of the Loan, Lender may require
<br />that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall prornptly furnish to Lender all notices of amounis to be paid
<br />under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's
<br />obligation to pay the Funds for any or all Escrow Items. L.ender may waive Borrower's obligation to pay to Lender
<br />Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver,
<br />Borrower shall pay directly, when and where payable, the amounts due for any Escrow Itezns for which payment of
<br />Funds has been waived by Lender and, if L.ender requires, shall furnish to Lender reeeipts evidencing such payment
<br />within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts
<br />shall for all purposes be deemed to be a covenant and agreement contained in this Security Izastrument, as the phrase
<br />"covenant an.d agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to
<br />a waiver, and Borrow�r fails to pay the annount due for an Escrow Item, L.ender 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.
<br />Lender may revoke the waiver as to any ar all Escrow Itenns at any time by a notice given in accordance with Section
<br />15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required
<br />under this Section 3.
<br />Lender may, af any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds
<br />at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under R�SPA.
<br />Lender shall estimate the amount of �unds due on the basis af current data and reasonable estimates of expenditures
<br />of future Escrow Items or otherwise in accordance with Applicable I.,aw.
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<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUM'�NT - MERS DocMagic�s�n� soo-s4s-�ses
<br />Form 3028 1/01 Page 3 of 11 www.docmaglc.com
<br />Ne3028.mzd.xml
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