|
201007539
<br />any payment or partial payment insuflicient to bring the Loan current, without waiver oFany rights hereunder or prejudice to
<br />its rights to refuse such payment ar partial payments in the future, but Lender is not obligated to apply such paymants at the
<br />time such payments are accepted. Ifeach Periodic Payment is applied as ofits scheduled due date, then L�nder need notpay
<br />interest an unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the L.oan current.
<br />If Borrower does not do so within a reasonable peripd of time, Lender shall either apply such funds or return them tp
<br />Barrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately
<br />prior to foreclosure. No offset or claim which Barrpwer might have now or in the future against Lender shall relieve
<br />Borrower from making payments due under the Note and this Security Instrument or performing the covenants and
<br />agreements secured by this Security Instrument.
<br />2. Application of Payments or Froceeds. Except 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 Nate; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment
<br />in the order itt which it became due. Any remaining amounts shall be applied first to late charges, secand to any other
<br />amounts due under this Security lnstrumettt, 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 amouttt
<br />tn pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than ane
<br />Periodic Payment is outstandin�, Lender may apply any payment received from Borrower to the repayment of the Periodic
<br />Payments if, and to the extent that, each payment can be paid in fulL To the extent that any excess exists after the payment is
<br />applied to the full payment ofone ar mare Periodic Payments, such excess may be applied to any lat� chargas due. Voluntary
<br />prepayments shall be applied first to any prepayment charges and then as described in the Note.
<br />Any applicatian ofpayments, insurance prpceeds, or Miscellaneous 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 Note,
<br />until the Note is paid in full, a sum (the "Funds") to provide for payment ofamounts due for: (a) taxes and assessments and
<br />other items which can attain priority over this Security Instrument as a lien or encumbrance an the Property; (b) leasehold
<br />payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5;
<br />and (d) Mortgage Insurance premiums, if any, ar any sums payable by Barrower to Lender in lieu ofthe payment ofMartgage
<br />Insurance premiums in accordance with the provisions of 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, F�es, and Assessments, if
<br />any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly
<br />furnish to Lendar all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds fpr Escrpw Items
<br />unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. I.ender may waive Borrower's
<br />obligation to pay to Lender �'unds for any or all Escraw Items at any time, Any such waiver may only be in writin =. In the
<br />event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items �or which
<br />payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such
<br />payrttent within such time period as Lender may require. Sorrower's obligatian tv m�ke such payments and to pravide
<br />receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase
<br />"covenant and a�reement" is used in Section 9. If Bprrawer is obligated to pay Escrow 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 Section 9 to repay to Lender any such amount. l,ender may revoke the
<br />waiver as to any or all Escrow Items at any time by a notice given in accardance with Section 15 and, upan such revacatian,
<br />Sorrawer shall pay to l.,ender all Funds, and in such amounts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Punds in an amount (a) sufficient to permit Lender to apply the Funds at
<br />the time specified under RESPA, and (b) not to exceed the maximum amount a lender can raquire under RESPA. Lender
<br />shall estimate the amount oFFunds due on the basis ofcurrent d�ta and reasonable estimates ofexpenditures offuture Escrow
<br />Items ar otherwise in accardance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured by a federal a�ency, instrumentality, ar entity
<br />(including Lender, if i.ender is an institution whose deposits are so insured) or in any Federal Home L.oan Bank. Lendar shall
<br />apply the Funds to pay the Escrow Items no later than the time specified under RESPA. l,ender shall not charge Barrower
<br />for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender
<br />pays Borrower interest an the Funds and Applicable L,aw permits Lender to make such a charge. Unless an agreement is
<br />made in writing or Applicable Law requires mter�st to be paid on the Funds, Lender shall not be required to pay 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 accauntin� ofthe Funds as required by RESAA.
<br />If there is a surplus of Funds held in escrow, as de�ined under RESPA, Lender shall account to Borrower for the
<br />excess funds in accordance with RESPA. Ifthere is a shprta�;e of Funds held in escrow, as defined under RESPA, Lender
<br />shall notify Barrower as required by RESPA, and Borrower shall pay ta Lender the amount necessary to make up the
<br />shortage in accordance with Ii�SPA, but in no more than 12 monthly payments. If there is a deficiency of Funds hcld in
<br />escraw, as defined under RESPA, Lender shall notify Borrower as required by R�SAA, and Borrower shall payto Lenderthe
<br />amount necessary to make up the deficiency in accordance with RESPA, but in tto more than 12 rnonthly payments.
<br />Upon payment in ful l ofall sums secured by this Security Instrument, L.ender shall promptly refund to Borrower any
<br />�'unds held by I.ender.
<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 ground rents on the Praperty, if any,
<br />and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are �scrow Items, Borrower
<br />shall pay them in the manner provided in Section 3.
<br />Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br />agrees in writing to the payment ofthe abligation secured by the lien in a manner acceptable to I,ender, but anly sq lan� as
<br />Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement ofthe lien in,
<br />legal proceedings which in L,ender'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 satisfactoryto
<br />Lender subordinating the lien to this Security instrument. If Lender determines that any part afthe Froperty 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 on 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 />Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting servica
<br />used by Lender in cannectian with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss 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. This insurance shall be maintained in the amounts
<br />(ittcluding deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding
<br />sentences can change during the term of the I,oan. The ittsurance carrier providing the insurance shall be chosen by
<br />Borrower subject to i.ender's right to disapprove Borrawer's choice, which right shall not be exercised unreasonably.
<br />Lender may require Borrower to pay, in connection with this L,oan, either; (a) a one-time charge for flood zona
<br />determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification
<br />services and subsequent charges each time remappings or similar changes occur which reasonably might affect such
<br />NEBRASKA--Single f�amily--F�nnie Mae/Freddie Mac LINIFORM INS1'ItUM�;N7' (MERS)
<br />�zasy.cv(iios� 904314
<br />Form 3028 1/Ol U�age 3 of8pages)
<br />Creative Thinking, Inc.
<br />GO"1'O(0012f663)
<br />� �
<br />
|