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<br />Payrnents are deemed received by J.,ender when received at the location designated in the Note or at such other
<br />location as rnay be designated by I,ender in accordance with ihe notice provisions in Section 15. Lender may return
<br />any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender
<br />may accept any payrnent or partial payment 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 neefl not pay interest on unapplied funds. I..ender may hold such unapplied funds
<br />until Borrower makes payment ta bring the Loan current. If Borrower does not do so within a reasonable period of
<br />time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be
<br />applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim
<br />which Borrower mighC have now or in the future against Lender shall relieve Borrower from making payments due
<br />under the Note and this Security Instnunent or perfornung the covenants and agreements secured by this Security
<br />Instrument.
<br />2. Application of Fayments or Proceeds. Except as otherwise described in this Section 2, all payrnents
<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 />Payrnent in the order in which it became due. Any remaining amounts shall be applied �rst 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 sufficienC
<br />amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If
<br />more than one Periodic Payment is outstanding, Lender may apply any payment received frorn Borrower to the
<br />repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that
<br />any excess exists after the payrnent is applied to the full payment af one or more Periodic Payrnents, such excess may
<br />be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayrnent charges and then
<br />as described in the Note.
<br />Any application of payments, insurance proceeds, 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. Borrovc+er shall pay to Lender on the day Periodic Payments are due under the
<br />Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of arnounts due for: (a) taxes and
<br />assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the
<br />Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance
<br />required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower
<br />to 1..ender in lieu of the payment of Mortgage Insurance premiums in accordance 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 Communiry Association Dues, Fees, and Assessments, if any, be escrpwed by Borrower, and such dues, fees and
<br />assessments shall be an Escraw Item. Borrower shall pro�nptly furnish ta Lender all notices of amounts to be paid
<br />under this 5ection. Borrower shall pay Lender the Funds for �scrow Items unless Lender waives Borrower's
<br />obligation ta pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to I.ender
<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 amaunts 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
<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 deerned to be a covenanc and agreement cpntained in this Security Instrurnent, as the phrase
<br />"covenant and agreement" is used in Section 9. If Borrower is abligated to pay Escrow Items directly, pursuant to
<br />a waiver, and Borrawer fails to pay the annount due for an Escrow Item, Lender 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 />L,ender nnay revake the waiver as to any or all Escrow Items 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, at any tirne, collect and hold Funds in an amount (a) sufficient to permit L,ender to apply the Funds
<br />at the tirne specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA.
<br />I.ender shall estimate the amount af Funds due on the basis of current data and reasonable estimates of expenditures
<br />af future Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits axe insured by a federal agency, instrumentality, or
<br />entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan
<br />Bank. Lender shall apply the Funds to pay the Escrow Ttems no later than the time specified under RESPA. L.ender
<br />shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying
<br />the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits I,ender to make
<br />such a charge. Unless an agreement is nnade in writing or Applicable Law requires interest to be paid on the Funds,
<br />Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and I,ender can agree
<br />in writing, however, that interest shall be paid on the Funds. Lender shall give to Bprrower, without charge, an
<br />annual accounting of the Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESPA, L.ender shall account to Borrower for
<br />the excess funds in accordance with RBSPA. If there is a shortage of Funds held in escrow, as defned under RESPA,
<br />Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to rnake
<br />up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of
<br />Funds held in escrow, as de�ned under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DocMagic � aoasas-rss2
<br />Form 3028 1/01 Page 3 of 1 1 www.docmaglc.com
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