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20110313� <br />Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or <br />partial payments in the future, but Lender is not obligated to apply such payments at the time such <br />payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender <br />need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes <br />payments to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender <br />shall either apply such fiznds or return them to Borrower. If not applied earlier, such funds will be applied <br />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 <br />payments due under the Note and this Security Inst�vment or performing the covenants and agreements <br />secured by this Security Instrument. <br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all <br />payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest <br />due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments <br />shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts <br />shall be applied first to late charges, second to any other amounts due under this Security Instrument, <br />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 may be applied to the delinquent payment and the late <br />charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from <br />Bortower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid <br />in full. To the extent that any excess exists after the payment is applied to the full payment of one or <br />more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments <br />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 <br />Note 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 <br />under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due <br />for: (a) taxes and assessments and other items which can atta.in priority over this Security Instrument as <br />a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Properly, if any; <br />(c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance <br />premiums, if any, or any sums payable by Bonower to Lender in lieu of the payment of Mortgage <br />Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow <br />Items." At origination or at any time during the term of the Loan, Lender may require that Community <br />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 fiunish to Lender all notices of amounts <br />to be paid under this Section. Bonower shall pay Lender the Funds for Escrow Items unless Lender <br />waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Bonower's <br />obligarion to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only <br />be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the <br />amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender <br />requires, shall fumish to Lender receipts evidencing such payment within such time period as Lender <br />NEBRASKA-Single Family-Fannie Mae/Freddle Mac UNIFORM INSTRUMENT <br />VMP� <br />Wolters Kluwer Finandal Services 201101054.0.0.0.4002J20100902Y <br />Initials: <br />1757419068 <br />Form 30281/01 <br />OB/10 <br />Page 4 of 17 <br />