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<br />Payments are deemed received by Lender when received at the location designaCed in the Note or at such other
<br />location as may be designated by Lender in accordance with the notice prpvisions in Section 15. L,ender 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 payment or partial payment insufficient to bring the Loan current, without waivex of any rights
<br />hereunder or prejudice to its rights to refuse such payment or partial payrnents in the future, but L.ender is not
<br />obligated to apply such payments at the tirne such payrnents are accepted. If each Periodic Payment is applied as of
<br />its scheduled due date, then Lender need nat pay interest on unapplied funds. Lender may hold such unapplied funds
<br />until Borrower makes payment to bring the Loan current. If Bnrrpwer daes not do so within a reasonable period of
<br />time, Lender shall either apply such funds or return them to Barrower. If not applied earlier, such funds will be
<br />applied to the outstanding principal balance under the Note immediately prior to foreclpsure. No offset or claim
<br />which Borrower might have now or in the future against Lender sha11 relieve Borrower frorn making payrnents due
<br />under the Note and this Security Instrurnent or performing the covenants and agreements secured by this Security
<br />Instrument.
<br />2. Application of Payrnents or Proceeds. Except as oth�rwise described in this Section 2, all paymenCs
<br />accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note;
<br />(b) parincipal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Feriodic
<br />Payrr►ent 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 Chen 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
<br />amount to pay any late chazge due, the payment may be applied ta the delinquent payment and the late charge. If
<br />more than one Periodic Payrnent 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 payment can be paid in full. To the extent that
<br />any excess exists after the payment is applied to the full paynnent of one or more Periodic Payrnents, such excess may
<br />be applied to any late charges due. Voluntary prepayments sha11 be applied first to any prepayment chaxges and then
<br />as described in the Note.
<br />Any application of payrnents, 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 Payrnents.
<br />3. �'unds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payrnents aze due under the
<br />Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and
<br />assessrnents and other items which can attain priprity aver 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 />xequired by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower
<br />to Lender in lieu of the payrnent of Mortgage Insurance premiums in accordance with the provisions of 5ection 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 Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid
<br />under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's
<br />obligation to pay the Fnnds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender
<br />Funds for any or all �scrow 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 amounts due for any Escraw Items for which payment of
<br />Funds has been waived by I.,ender and, if I.ender requires, shall furnish to Lender receipts evidencing such payrnent
<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 Instrurnent, as the phrase
<br />"covenant and agreement" is used in Sectian 9. If Borrower is obligated to pay Escrow Items directly, pursuant to
<br />a waivex, and Borrower fails ta pay the aznount 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 amount.
<br />Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section
<br />15 and, upan such revocation, Borrower shall pay to l.ender all Funds, and in such amounts, that are then required
<br />under this 5ection 3.
<br />Lender znay, at any time, collect and hald Funds in an amount (a) sufficient to pernut Lender to apply the Funds
<br />at the time specified under RESPA, and (b) not to exceed the rna7cirnurn arnount a lender can require under RESPA.
<br />Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures
<br />of future Escrow Items ar otherwise in accordance with Applicable I,aw.
<br />The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or
<br />entity (including Lender, if I.ender is an institution whase deposits are so insured) ar in any Federal Home Loan
<br />Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender
<br />shall not charge Borrower for holding and applying the Punds, annnally analyzing the escrow account, or verifying
<br />the Escrow Items, unless I,�nder pays Borrower interest on the Funds and Applicable L,aw pernuts Lender to make
<br />such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid an the Funds,
<br />Lender shall not be required ta pay Borrower anq interest or earnings on the Funds. Borrower and Lender can, agree
<br />in writing, however, that interest shall be paid on the Funds. T.ender shall give to Borrower, 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, Lender shall account to Borrower for
<br />the excess funds in accordance with RESPA. If there is a shortage of Punds held in escrow, as defined under RESPA,
<br />Lender shall notify Borrower as required by RESPA, and Borrower shall 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 of
<br />Funds held in escrow, as defined under RESFA, Lender shall notify Borrower as required by RESPA, and Borrower
<br />1 � `-'
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTF
<br />Form 3028 1/01 Page 3 of 1 9
<br />ENT DocMagic � aoo-64s-�3s2
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<br />Ne3Q28.dot.xml
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