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<br />V2 WBCD LOAN # 503036327
<br />THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-unif�rm covenants with
<br />limited variations by jurisdiction to cnnstitute a uniform security instrument covering real properry.
<br />UNIFO�tM COVENAN7S. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Princlpal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrdwer shall pay
<br />when duethe principal of, and intereston, the debt evidenced bythe Note and any prepaymentcharges and late charges
<br />due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the
<br />Note and this Security Instrument shall be made in IJ.S. currency. However, if any check ar ather instrument received
<br />by Lender as payment under the Nate ar this Security Instrument is returned ta Lender unpaid, Lender may require that
<br />any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following
<br />fnrms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's
<br />check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency,
<br />instrumentality, or entity; or (d) �lectr�nic Funds Transfer.
<br />Payments are deemed received by Lender when received at the location designated in the Note or at such other
<br />location as may be designated by Lender in accordance with the notice pravisions in Section 15. Lender may return any
<br />payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may
<br />accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or
<br />prejudice to its rights to refuse such payment or partial payments in the future, but l.ender is not obligated ta apply such
<br />payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date,
<br />then Lender need nat pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes
<br />payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either
<br />apply such funds or return them to Bdrrower. If not applied earlier, such funds will be applied to the outstanding principal
<br />balance under the Note immediately prior to foreclosure. No ofFset or claim which Borrower might have now or in the
<br />future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument
<br />or performing the cavenants and agreements secured by this Security Instrument.
<br />2. Appllcatlon of Payments or Proceeds. Except as atherwise described in this Section 2, all payments accepted
<br />and applied by Lender shall be applied in the fallowing order of priority: (a) interest due under the Note; (b) principal
<br />due under the Note; (c) amounts due under Section S. Such payments shall be applied ta each Periadic Payment in the
<br />order in which it became due. Any remaining amounts shall be applied first to late charges, second ta any other amounts
<br />due under this Security Instrument, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment from Borrawer for a d�linquent Periadic Paym�nt which includes a sufficient amaunt
<br />to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than
<br />ane Periodic Payment is autstanding, Lender may apply any payment received from Bdrrower to the repayment of the
<br />Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after
<br />the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late
<br />charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note.
<br />Any application �f payments, insurance praceeds, or Miscellan�ous Proceeds to principal due under the Note shall
<br />not extend or pastpone the due date, or change the amoun#, of the Periodic Payments.
<br />3. Funds far 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 of amounts due for: (a) taxes and assessments
<br />and other items which can attain priority over this 5ecurity Instrument as a lien or encumbrance on the Praperty; (b)
<br />leasehold paymen#s or ground rents on the Praperty, if any; (c) premiums for any and all insurance required by Lender
<br />under Sectian 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borr�wer to Lender in lieu of
<br />the payment of Mortgage Insurance premiums in accordance with the provisions of Sectian 10. These items are called
<br />"Escrow Items."Atorigination or atanytime during theterm ofthe Loan, Lender may requirethat CommunityAssociation
<br />Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an
<br />Escrow Item. Borrawer shall promptly furnish to Lender all natices of amounts to be paid under this Section. Barrower
<br />shall pay Lender the �unds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or
<br />all Escrow Items. Lender may waive Borrower's obligatian to pay to Lender Funds for any or all �scrow Items at any time.
<br />Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable,
<br />the amounts due for any Escraw Items for which payment of Funds has been waived by Lender and, if Lender requires,
<br />shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's
<br />obligation to make such payments and to provide receipts shall for all purposes be deemed to be a cavenant and
<br />agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If
<br />Borrower is obligated to pay �scr�w Items directly, pursuant to a waiver, and Barrower fails to pay the amount due for
<br />an Escrow Item, Lender may exercise its rights under Section 9 and pay such amaunt and Borrawer shall then be
<br />obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all �scrow
<br />Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrawer shall pay to
<br />Lender all Funds, and in such amounts, that are then required under this Section S.
<br />Lender may, at any time, collect and hold �unds in an amount (a) sufficient to permit Lender to apply the Funds at
<br />the time specified under RESPA, and (b) notto exceed the maximum amount a lender can require under RESPA. Lender
<br />shall estimate the amount of Funds due on the basis nf current data and reasonable estimates af expenditures of future
<br />Escrow Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whase deposits are insured by a federal agency, instrumentality, or entity
<br />(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender
<br />shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge
<br />Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escraw Items,
<br />unless Lender pays Borrawer interest on the Funds and Applicable Law permits Lender to make such a charge. Unless
<br />an agreement is made in writing orApplicable Law requires interestta be paid on the Funds, Lendershall not be required
<br />to pay Borrawer any interest or earnings on the �unds. Borrower and Lender can agree in writing, however, that interest
<br />shall be paid on the Funds. Lender shall give to Borrower, withautcharge, an annual accounting ofthe Funds as required
<br />by R�SI�A.
<br />If there is a surplus of Funds held in escrow, as defined under R�SPA, Lender shall account to Borrower for the
<br />excess funds in accordancewith RESPA. Ifthere is a shartage af Funds held in escrow, as defined under I��SPA, Len r
<br />NEBRASKA--Single Family--Fannle Mae/Freddle Mac UNIFORM INSTRUMENT Form 50281/01 Initials :
<br />� 1999-2007 Online Documents, Inc. PaQ@ 3 Of 9 NEED�ED 0 5
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