|
�0100784�
<br />anypayment or partial payment insufficient to bring the L,oan current, withaut waiver of any rights hereuiider or prejudice to
<br />its rights to refuse such payment oc partial pa�nents in the future, but Lender is not obligated to apply such payments at the
<br />time such payments are accepted. if each Aeriodic Payment is applied as of its scheduled due date, then Lender need not pay
<br />interest on unapplied funds. Lender may hold such unappiied funds until Borrower makes payme�it to bring the L.oan current.
<br />lf Borrpwer does not do so within a reasonable period of time, Lender shall either apply such funds or return tliem to
<br />Borrower. lfnot applied earlier, such funds will be applied to the outstanding principal balance under the Note immediatety
<br />prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve
<br />Sorrower from making �ayments due u�ider the Note and this Security Instrument or performing the covenants and
<br />agreements secured by th�s 5ecurity ]nstrument.
<br />2. Application of I'ayments or Proceeds. Except as otherwise described in this Section 2, all payments
<br />accepted and applied by Lender shall he applied in tlie 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 sha(1 be applied to each Periodic Fayment
<br />�n the order in which it became due. Any remaining amounts shall be applied first to late charges, secoi�d to any other
<br />amounts due under this Security instrument, and then to reduce the princi�al bala�ice of the Note.
<br />If Lender receives a payment from Borrower for a delinque»t Periodic Payment which includes a sufficient amount
<br />to pay any late charge due, the payment may be applied to tha delinr�uent payment a�id the late charge. if more tha�� one
<br />Periodic Payment is outstanding, i.,ender may apply any payment rece�ved from Borrower to the repayment ofthe Feriodic
<br />Aayments if, and to the extent that, each payment can be pa�d in full. To the extent that any excess exists after the payment is
<br />applied to the full payment of one or more Periodic Paynnents, such excess may be applied ta any late charges due. Voluntary
<br />prepayments shall be applied first to any prepayment charges and then as described �n the Note.
<br />Any application ofpayments, msuranca procaeds, or Miscellaneous Proceeds to principal due under theNote
<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 �ay ta Lender on the day Periodic Payments are due undertheNote,
<br />until the Note is paid in full, a sum (the "Funds") to prov�de for payment ofamounts due for: (a) taxes and assessments ai�d
<br />odter items which can attain priority over this 5ecurity Instrument as a lien or encumbrance on the Froperty; (b) leasehold
<br />payments or ground rents on the Property, if any; (c) premiums for any and all insurance rec�uired h Lender under 5ection 5;
<br />and (d) Mortgape Insurance premiums, if any, or any sums payable by Borrower to Lender m lieu oftha paymant ofMortgage
<br />Insurance prem�ums in accordance with the provisians of Section 10. These items are called "Escrow ltems." At origniation
<br />or at a�iy tima during the tcrm of the I.oan, Lender may require that Community Association Dues, Fees, and Assessme»ts, if
<br />any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly
<br />furnish to Lender all notices of amouuts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items
<br />unless I.ender waives Borrower's obligation to pay the Funds for any or all Escrow items. Lender may waive Borrower's
<br />obligation to pay ta Lender Funds for any or all Escrow ltems at any trme. Any such waiver may only be in writing. In the
<br />event of such waiver, Borrower shall pay directly, when and where payahle, the amounts due for any Escrow Ite►ns for which
<br />payment of Funds has been waived by Lender and, if Lender reqL�ires, shall furnish to L.ender receipts evidencin� such
<br />payment within such time period as Lender may reyuire. Borrower's obligation to make such payments and to provide
<br />receipts shall for all purposes be deemed to be a covenant and agreament contamed m this 5ecurity Instrument, as the phrase
<br />"covenant and agreement" is used in Section 9. If Borrawer is obligated to pay Escrow Items directly, pursuant to a warver,
<br />and Borrower fails to pay the amount due for a�i Escrow Item, Lender may exercise its rights under Sect�on 9 and pay such
<br />amowrt and Borrower shall then be obligated under Section 9 to repay to T.ender any such amount. Lendar may revoka the
<br />waiver as to any ar all Escrow ltems 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 />Lender may, at any time, collect and hold Funds in an amount (a) suf�'icient to permit Lender to apply the Funds at
<br />thc time specified under RESFA, and (h) not to exceed the maximum amount a lender can require under ItE51'A. Lender
<br />shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures offuture Escrow
<br />Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be lield in ai� institutioii whose deposits are insured by a federal agency, instrumentality, ar entity
<br />(including 1.ender, if L.ender is an institution whose deposits are so insured) or in any Federal Home l.oan Bank. I.ender sha11
<br />apply the Funds to pay the Escrow ltems no later thui the time specified under RESFA. Lender shall not charge Borrower
<br />for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless L.ender
<br />pays Barrower interest an the Funds and Ap�licable Law permits Lender to make such a charge. Unless an agreement is
<br />made in writing or Applicable Law requires ►nterest ta 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. L,ender shall give to Borrpwer, without charge, an annual accountin� pf the Funds as required by RESPA.
<br />IFthere is a surplus of Funds lield in escrow, as defined under RESPA, Lender shall account to Borrower for the
<br />excess funds in accordance with RESPA. If there is a shortage of Fuaids held in escrow, as defined under RESPA, Lender
<br />shall notify Sorrower as required by RESPA, and Borrawer shall pay to Lender the amowrt necessary ta make up the
<br />sl�ortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Fuuds held in
<br />escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall payto T.,enderthe
<br />amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
<br />Upon payment in full ofall sums secured by this Security Instrument, Lender shall promptly refund ta Borrawer any
<br />Funds held by Lender.
<br />4. Charges; Liens. Barrawer shall pay all taaces, assessments, charges, fines, and impositions attributable to the
<br />Property which can atta�n prioriry over this Security lnstrument, leasehnld payments or ground rents on the Property, if any,
<br />a��d Community Association Dues, Fees, and Assessments, ifany. To the extent that these items are Escrow Items, Borrower
<br />shall pay them in the manner provided in Section 3.
<br />Borrower shall promptly dischar�e any lien which has priprity over this $ecurity Instrument unless Barrower: (a)
<br />agrees in writin to tha payment of the obligation 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 aqainst enforcement ofthe lien in,
<br />legal proceedings which in Lender's opinion operate to prevent the enforcement of the hen while those proceedings ace
<br />pending, but only until sucl� proceedings are concluded or (c) secures from the holder of the liea� an agreement satisfactoryto
<br />Lender subordinating th� licn ta this 5ecuritY Instrument. If Lender determines that any part of the Froperty is subject to a
<br />lien which can attain priority over this Security lnstrurnent, L.ender may give Sorrpwer a notice identifyuig the lien. Within
<br />10 days of the date on which that ��otice is given, Borrower shall satisfy the lien or take one or more of the 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 verificatian and/or reporting service
<br />used by Lender in connection with this Loan.
<br />S. Property Insuranee. Borrower shall keep the improvements now existing or hereafter erected on the Property
<br />insured against loss by flre, hazards included within the term "extended coverage," and any other ha�ards including, but not
<br />limited to, earthquakes and flaods, for which Lender requires insurance. This insurance shall be maintained in the amounts
<br />(including deductible levels) and for the periods that Lender requires. What l.ender requires pursuant to the preceding
<br />sentences can change during the term of the Laan. The insurance carrier providing the insurance shall be chosen by
<br />Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably.
<br />Lender may require Bonower to pay, in connection with this Laan, either: (a) a one-time charge far flood zone
<br />determination, �ertification and tracking services; or (b) a one-time charge for flood zone determination and certification
<br />services a��d subsequent charges each time remappings or similar changes occur which reasonably might affect such
<br />NEBRASKA--Single Family—Fannte Mae/Freddte Mac LINIFGRM INSTRLIMEN"1" (MERS) Form 3028 1/Ol (page 3 of8pages)
<br />12439.CV (1/08) 03-1127 Creative Thinking, Inc.
<br />GOTO(00231c47)
<br />
|