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<br />Payments are deemed received by Lender when received at the location designated in the Note or at such other
<br />location as rnay be designated by Lender in accordance with the notice provisions in 5ection 1S. Lender may return
<br />any payment or partial payrnent if the payment or partial payments ar� insufficient to bring the Loan current. Lender
<br />may accept any payment or partial payment insufficient to bring the Loat� current, without waiver of any rights
<br />hereunder or prejudice to its rights to refuse such payznent ox partial payments in the future, but Lender is not
<br />obligated to apply such payments at the time such payrnents are accepted. If each Periodic Payment is applied as of
<br />its scheduled due date, then L,ender need not pay interest on unapplied funds. Lender may hold such unapplied funds
<br />until Borrower makes payment to bring the L,oan 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. Tf not applied earlier, such funds will be
<br />applied to the outstanding principal balance under the Nnte irnmediately prior to foreclosure. No offset or claim
<br />which Borrower might have now or in the future against Lender shall relieve Borcower from rnaking payments due
<br />under the Note and this Security lnstrument ar parfornung the covenants and agreements secured by this Security
<br />Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, a11 payments
<br />accepted and applied by Lender sha11 be applied in the following order of priority: (a) interest due under the Nate;
<br />(b) principal due under the Note; (c) amounts due under Section 3. Such payrnents sha11 be applied to each Periodic
<br />Paymez►t in the order in which it becarne due. Any remaining amounts shall be applied first to late chacges, 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 frorn Borrower for a delinquent Periodic Payment which includes a sufficient
<br />amount to pay any late charge due, the payment may be applied to the delinquent payrnent and the late charge. If
<br />mors than one Periodic Payment is outstanding, I.,ender may apply any payment received from Borrower to the
<br />repayment of the Periodic Payments if, and to the extent that, each payrnent can be paid in full. Ta the extent that
<br />any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may
<br />be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then
<br />as described in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneaus Proceeds to principal due under the Note
<br />shall not extend or postpone the due date, or change the arnount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Borrower shall pay to L.ender on the day Periodic Paynnents are due under the
<br />Note, until the Note is paid in full, a sum (the "Funds") to provide for paynnent of amounts due for: (a) taxes and
<br />assessments and other items which can attain priority over this Security Instrument as a lien or encurnbrance on th�
<br />Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance
<br />required by L,ender und�r Section 5; and (d) Mortgage Insurance premiurr�s, if any, or any sums payable by Borrower
<br />to Lender in lieu of the paynnent of Mortgage Insurance premiuzans 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 Comrnunity Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments sha11 be an�scrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid
<br />under this Section. Borrower shall pay L,ender the Funds for Escrow Items ur►less Lender waives Borrower's
<br />obligation to pay the Funds for any or a11 Escrow Items. Lender may waive Borrower's obligation to pay to Lender
<br />Funds far any or all Escrow Items at any tizne. Any such waiver may only be in writing. In the event of such waiver,
<br />Borrower shall pay directly, when and where payable, the amounts 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 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
<br />a waiver, and Borrower fails to pay the amount due for an Escrow Item, L.ender 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 arnount.
<br />Lender may revoke the waiver as to any or all Escrow Itenns 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 time, collect and hold �'unds in an amount (a) sufficient to permit L.ender to apply the Funds
<br />at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA.
<br />J.ender shall estimate the amount of Funds due on the basis of current data and reasonable estimat�s of expenditures
<br />of future Escrow 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
<br />entity (including Lender, if Lender is an institution whose deposits ace so insured) or in any Federal Home Loan
<br />Bank. T ender sha11 apply the Funds to pay the Escrow ltems no latear than the time speci�ed under R�SPA. Lender
<br />shall not charge Borcower for holding and applying the Punds, annually analyzing the escrow account, or verifying
<br />the Escrow Iterns, unless L.ender pays Borrower interest on the Funds and Applicable I,aw pernuts Lender to make
<br />such a charge. Unless an agreeznent is made 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 sha11 give to Borrower, wiChout 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, Lender shall account to Barrower for
<br />the excess funds in accordance with RESPA. lf there is a shortage of Funds held in escraw, as defined under RESPA,
<br />Lender shall natify Borrower as required by RBSPA, and Borrower sha11 pay to Lender the amount necessary to make
<br />up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a de�ciency af
<br />Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DocMagic � aoo-sas-iasz
<br />Form 3028 1/01 Page 3 of 1 1 www.docmagic.com
<br />Nc3028.dot.xml
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