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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 />