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�01009310
<br />Payments are deemed received by Lender when received at the location designated in the Note ar at such other
<br />locatian as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return
<br />any payment or partial payrnent if the payment or partial payments are insufficient to bring the Loan current. L.ender
<br />may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights
<br />hereunder or prejudice to its rights to refuse such payrnent or partial payments in the future, but Lender is not
<br />abligaterl to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of
<br />its scheduled due date, then T ender need not pay interest on unapplied funds. L,ender may hold such unapplied funds
<br />until Borrower rnakes payment to bring the Loan current. If Borrower does not do so within a reasonable period of
<br />tirne, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be
<br />applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim
<br />which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due
<br />under the Note and this Security Instrument or perfornning the covenants and agreernents secured by this Security
<br />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 follawing order of priority: (a) interest due under the Note;
<br />(b) pxincipal due under the Note; (c) amounts due under Section 3, Such payments shall be applied to each Periodic
<br />Payment in the order in which it becarne due. Any reraaining amaunts shall be applied first to late charges, 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 from Borrower for a delinquent Periodic Payment which includes a sufficient
<br />amount to pay any late charge due, the payment znay be applied to the delinquent payment and the late charge. If
<br />more than one Periodic Payment is outstanding, L.ender may apply any paynnent received from Borrower to the
<br />repayment of the Periodic Payments if, and to the extent that, each payrnent can be paid in full. To 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 Miscellaneous Proceeds to principal due under the Note
<br />shall nat extend or postpone the due date, or change the amount, of the Periodic Payments.
<br />3. �rnds for Escarow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the
<br />Nate, until the Note is paid in full, a sum (the "Funds") ta provide for payment of amounts due for: (a) taxes and
<br />assessments and other items which can attain priority aver this Security Instrument as a lien or encumbrance on the
<br />Property; (b) leasehold payrnents or ground xents on the Property, if any; (c) premiums for any and all insurance
<br />required by I.ender under Section 5; and (d) Mortgage Insurance prerniums, if any, or any sums payable by Borrower
<br />to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10.
<br />These items are called "Escrow Items. " At origination or at any tirne during the term of the I,oan, Lender may require
<br />that Comrnunity Association Dues, Fees, and Assessments, if any, be escrowed by Barrower, and such dues, fees and
<br />assessments shall be an Escrow Ttem. 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 Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender
<br />Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver,
<br />Bprrower shall pay directly, when and where payable, the arnounts due for any Escraw Items for which payment of
<br />Funds has been waived by I.,ender and, if Lender requires, shall furnish to I.ender 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 far all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase
<br />"cavenant and agreement" is used in Sectian 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, Lender may exercise its rights under Section
<br />9 and pay such arnount 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, upon such revocation, Borrower sha11 pay ta I.ender all Funds, and in such amounts, that are then required
<br />under this Section 3.
<br />I..ender may, at any time, collect and hold �'unds in an amount (a) sufficient to permit I..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 />Lender shall estimate the amaunt of Funds due on the basis of current data and reasonable estimates 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, instrumcntality, ar
<br />entity (including Lender, if L,�nder is an inscitution whose deposits are so insured) or in any Federal Home I..oan
<br />Bank. I.ender shall apply the Funds to pay the Escrow Items no later than the time specified under RESFA. L.ender
<br />shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying
<br />the Escrow Items, unless I.ender pays Borrower interest on the Funds and Applicable Law permits Lender to make
<br />such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds,
<br />T.ender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree
<br />in writing, however, that interest shall be paid on the Funds. Lender shall give to Barrower, without charge, an
<br />annual accounting of the Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrovv, as defined under RESPA, Lender shall account to Borrower for
<br />the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as deflned under RESPA,
<br />Lender shall notify Borrower as required by RESPA, and Borrower shall pay to L.ender the amount necessary to make
<br />up the shortage in accordance with RESPA, but in no more than 12 rnonthly payments. If there is a deficiency of
<br />Funds held in escrow, as defined under RBSPA, Lender shall notify Borrower as required by RESPA, and Borrower
<br />r
<br />f�BRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM IN5TRUMENT DocMagic � soo-sas-�.�sz
<br />Form 3028 1/01 Page 3 of 11 www.docmaglc.com
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