|
2010�9334
<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 provisions in Section 15. Lender may return
<br />any payment or partial payment if the payment or partial paymenCc arc insufticient [o bring the l.nan current. l.ender
<br />may accept any payment nr partial payment insuFficient tn bring the I.nan current, withnut waiver nf any rights
<br />hereunder or prejudice to its rights to refuse such payment a• partial payments in the future, but L,ender is not
<br />obligated tn apply such payments at the time such payments are accepted. If each Perindic I'ayment is applied as of
<br />its schcdulcd due datc, then Lender need not pay intcrest on unapplied funds. Lender may hold such unapplied funds
<br />until Borrower makes payment to bring the Loan currcnt. If Borrower does not do so within a reasonable period of
<br />time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be
<br />applied to thc outstanding principal balance under the Note immediately priur to fureclosure. No offset or claim
<br />which Borrower might have now ur in the fulure against Lender shall relieve Bnrrower frum making payments due
<br />under the Note and this Security Instrument nr perfvrming the covenants and agreements secured by this Securiry
<br />lnstrument.
<br />2. Application of Payments or Proceeds. Gxcept as otherwise described in this Section 2, all payments
<br />accepted and applied by l,ender shall be applied in the tbllowing order of prioriry: (a) interest duc under the Note;
<br />(b) principal due under thc Note; (c) amounts due undar Section 3. Such payments shall be applied to each Periodic
<br />Payment in the ordcr in which it became due. Any remaining amounts shail be applied first to late charges, second
<br />to any othcr amounts duc undcr this Sccurity Instrumcnt, and then to reduce the principal balance of' che Note.
<br />If I.ender receives a�ayment from Rorrower for a dclinqucnt Periodic Payment which includes a sufticient
<br />amount tn pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If
<br />more than nne 1'erindic !'ayment is nutstandin�, Lender may apply any paymen[ rcceived from Rorrnwer to thc
<br />repayment of the Periodic I'ayments if, and to thc extent that, cach payment can be paid in t�ull. To the extcnt that
<br />any excess exists aRer the payment is applied tn the fuli payment of one or more Periodic Payments, such excess rtiay
<br />he applied to any late charges due. Vnluntary prepayments shall be applicd tirst tu any prepayment charges and [hen
<br />as descrihed in the Note.
<br />Any application of payments, insurance prnceeds, nr Misccllancous Procecds [o principal duc undcr [he Notc
<br />shall nnt extend nr postpnne the due date, nr change the arnount, of thc Pcriodic Paymcnts.
<br />3. Funcls for F.scrow Items. Burrowcr shall pay tu Lender on the day Periudic Payments are due under the
<br />Notc, until thc Notc is paid in full, a sum ([hc "Punds") tu pruvide for p�ryment uf amuunts due fur. (a) ttixes and
<br />asscssrncnts and nthcr itcros which can attain priurity over this Seciuity Instrument ais a lien ur encumbrance un the
<br />Property; (b) Icasehold paymcnts or ground rents on Ihc Pruperty, if any; (c) premiums fur any ancl all insurmce
<br />rcquircd 6y Lcndcr undcr Scction 5; nnd (d) Mortgagc Insurance premiums', if �my, ur any sums payable by Burru�ver
<br />tu Lender in licu of the payment of Murtgage Insurance premiums in accordance with the pruvisions c�f Section 10.
<br />"fhese items are eal lecl "Escrow [tems." At urigination or .i[ any time during the term nf the Loan, I.ender may require
<br />thait Cbmmunity Assuciatiun Dues, Fees, and Assessmentti. if any, he escrn�ved hy 13nrrn�rer, and such dues, Fees and
<br />assessments tihall 6e an Escruw Item. Borrower shall prnmptly fwnish tn Lender aii notices nf amnunts to he paid
<br />under this Sectiun. Ek�rrower shall pay Lender the Hunds fnr 1{scrow Items unlcss I.ender waives 13orrowcr's
<br />nbligation to pay the f�unds for any or all Gscrow Itcrns. Lender may waive Borruwer's ubligatiun �u pny tu Lender
<br />Punds fuf any or 311 Liscrow Itcrns at any [ime. Any suc}i w��iver mtry unly 6e in wri[ing. In the event uf such waiver,
<br />I3urruwer shall pny directly. ��hen and where payable, the xmuunts due lin any Escrow Items �i�r �vhich paymen[ nf
<br />Punds has been waivecl by Lender and, if Lender requires, shall furnish tu Lender receipts evidencing such payment
<br />�vithin such time period as Lender may require. Burrower's ubligation to make such payments and to provicle receipts
<br />sh�ill for all purpuses be deemed tu be a covenan[ and agreement cnntained in this Securiry Instrwnen[, as the phrasc
<br />"cuvenant and agrcemenC' is used in Section 9. If Borrower is obligated tn pay hscrn�v I[ems direcdy, pursuant tn
<br />a waiver, and Burrower fails to pay the amount due f'nr an Escrow Item, Lender may exercise its rights under Sectinn
<br />9 and pay such �rnount and Rurruwer shall then be o6ligafed under Sectinn 9 tn repay to Lender any such amount.
<br />Lender may revoke the waiver as tu any or all Escruw Items at any time by a nntice given in accordance with Section
<br />IS and, upon such revucation, Burrower shall pay to Lender all Funds, and in such amounts, that are then required
<br />imder (his Sectiun 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficicnt to pern�it I.ender tn apply [he Funds
<br />at the time specitied under RESPA, and (b) nut to exceed the maximum amount a lender can require under KF.SPA.
<br />Lender shall estimate the amount of Funds due on the hasis of current data and reasonable estimates nf expenditures
<br />of futwe Escrow Items ur utherwise in accurdance with npplicable Law.
<br />I he Hunds shall be held in an institutinn whnse deposits arc insured by a federal agency, instrumentality, ur
<br />entity (includin� Lender, if Lender is an institution whnse depnsits are so insured) or in any �ederal Home Loan
<br />Bank. Lender shall apply the Funds tu pay the Escrow Items no later than the time specified under RESPA. Lender
<br />shall not charge Borrower fur holding an�l applying the Funds, annually analyzing the escrnw account, or verifying
<br />[he Gsauw ICCms, unless Lender pays Borrower interest on the Funds and Applicahle Law permits Lender to make
<br />such a charge. [inless an agreement is made in writing or Applicable Law requires interest to Ue paid on the �imds,
<br />Lender shall no[ be reyuired to pay Bonower any interest or earnings on the Punds. Borrower and Lender can agrcc
<br />in writing, however, that interest shall be paid on the Funds. Lcndcr shall give tu Borrower, without charge, an
<br />annual accnunting of the Funds as required hy R�SPA.
<br />If there is a swplus nf Funds held in escrow, as detincd under ItL•SPA, Lender shall account tu Borruwer fur
<br />[he excess funds in accordance with RESPA. If'there is a shortage nf Funds held in escrnw, as defined under RH:SPA,
<br />Lcndcr shall notity Ftorrower as required by RGSPA, ancl Burruwer shall pay to Lender the amnun[ necessaiy tn make
<br />up the shortage in accordance with RESPA, but in no more than 12 munthly paymen�s. If there is a deticiency of
<br />Punds held in escrow, as detincd under RLSPA, Lender shall notify Borrower as required by RESPA, and Bon nwer
<br />NEBRASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �ocMagic�l','�'_�.Vt'�,1s"� eoo-aa�-i3es
<br />Form 3028 1/01 Page 3 of 11 www.docmagiacom
<br />
|