|
<br />
<br />
<br /> 201008107
<br />
<br /> any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to
<br /> its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the
<br /> time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay
<br /> interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes paymentto bringthe Loan current.
<br /> If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to
<br /> Borrower. 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 Borrower 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 Proceeds. 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 Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment
<br /> in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other
<br /> 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 sufficient amount
<br /> to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one
<br /> Periodic Payment is outstanding, 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 of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary
<br /> prepayments shall be applied first to any prepayment charges and then 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. 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 and
<br /> other items which can attain priority over this Security Instrument as a lien or encumbrance on 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, or any sums payable by Borrower to Lender in lieu ofthe payment of Mortgage
<br /> Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items" At origination
<br /> or at anytime during the term of the Loan, Lender may require that Community Association Dues, Fees, 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 Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items
<br /> unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's
<br /> obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the
<br /> event of such waiver, Borrower shall ay directly, when and where payable, the amounts due for any Escrow items for which
<br /> payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such
<br /> payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide
<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 agreement" is used in Section 9. If Borrower 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. Lender may revoke the
<br /> waiver as to any or all Escrow Items 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) 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 require under RESPA. Lender
<br /> shall estimate the amount of Funds due on the basis of current data and reasonable estimates ofexpenditures offuture Escrow
<br /> Items or otherwise in accordance with Applicable Law.
<br /> The Funds shall be held in an institution whose 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 shall
<br /> apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower
<br /> for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender
<br /> pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is
<br /> made in writing or Applicable Law requires interest 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 accounting of the Funds as required by RESPA.
<br /> If there is a surplus of Funds held 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 Funds held in escrow, as defined under RESPA, Lender
<br /> shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the
<br /> shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in
<br /> escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall payto Lender the
<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 of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any
<br /> Funds held by Lender.
<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 Property, if any,
<br /> and Community Association Dues, Fees, and Assessments, if any. 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 discharge any lien which has priority over this Security Instrument unless Borrower: (a)
<br /> agrees in writing to the 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 against enforcement of the lien in,
<br /> legal proceedings which in Lender'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 of the lien an agreement satisfactory to
<br /> Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property 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 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 verification and/or reporting service
<br /> used by Lender in connection 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 /> (including 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 Loan. 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 Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone
<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 Family--Fannie Mac/Freddie Mac UNIFORM INSTRUMENT (MERS) Form 3028 1/01 (page 3 of8pages)
<br /> 12439.CV (1/08) 903975 Creative Thinking, Inc.
<br /> GOTO(00135838)
<br /> 1-41
<br />
|