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201103531
<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 retum
<br />any payment or partial pay�aent if the payment or partial payments are insuff'icient to bring the Loan current. Lender
<br />may accept any pay#nent or partial payment insufficient to bring the Loan current, without waiver of any rights
<br />hereunder or prejudice to its rights to refuse such payment or partial paymerits in the future, but Lender is not
<br />obligated to apply such payments at the time such payments aze accepted. If each Periodic Payment is applied as of
<br />its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds
<br />until Borrower makes payn�ent to bring the Loan current. If Bonower does not do so within a reasonable period of
<br />time, Lender shall either �pply such funds or return them to Borrower. If not applied earlier, such funds will be
<br />applied to the outstanding �rincipal balance under the Note immediately prior to foreclosure. No offset or claim
<br />which Borrower might havle now or in the future against Lender shall relieve Borrower from making payments due
<br />under the Note and this Security Instrument or perfornung the covenants and agreements secured by this Security
<br />Instrument.
<br />2. AppHcation of Payments or Proceeds. Except as otherwise described in this 5ection 2, a11 payments
<br />accepted and applied, by L,ender shall be applied in the following order of priority: (a) interest due under the Note;
<br />(b) principal due under the Note; (c) amounts due under Section 3. 5uch payments shall be applied to each Periodic
<br />Payment in the order in which it became due. Any remaining amounts sha11 be applied first to late chazges, second
<br />to any other amounts due �nder this Security Instrument, and then to reduce the principal balance of the Note.
<br />If Lender recex�,ves 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 charge. If
<br />more than one Periodic Payment is outstanding, Lender may apply any payment received from Bonower 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 p�yment 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 sha11 be applied first to any prepayment chazges 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 not extend or postponie the due date, or change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Bonower sha11 pay to Lender on the day Periodic Payments 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 />assessments and othe'r items which can attain priority over this Security Instrument as a lien or encumbrance on the
<br />Property; (b} leasehpld payments or ground rents on the Property, if any; (c) premiums for any and all insurance
<br />required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Bonower
<br />to Lender in lieu of tlie payment of Mortgage Insurance premiums in accordance with the provisions of Section 10.
<br />These items are called "Esctow 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 sha11 be an Esc!row Item. Borrower sha11 promptly fiunish to Lender all notices of amounts to be paid
<br />under this Section. Borro!wer shall pay Lender the Funds for Escrow Items unless 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 for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver,
<br />Borrower sha11 pay directly, when and where payable, the amounts due for any Fscrow 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 />sha11 for all purposes be de.emed 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 Fscrow Items directly, pursuant to
<br />a waiver, and Borrower fai1S to pay the amount due for an Escrow Item, Lender may exercise its rights under Section
<br />9 and pay such amount and'Borrower sha11 then be obligated under Section 9 to repay to Lender any such amount.
<br />Lender may revoke the waiuer as to any or a11 Escrow Items at any time by a notice given in accordance with Section
<br />15 and, upon such revocatibn, Bonower sha11 pay to Lender all Funds, and in such amounts, that aze then required
<br />under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds
<br />at the time specified under �tESPA, and (b) not to exceed the maximum amount a lender can require under RESPA.
<br />Lender shall estimate', the annount of Funds due on the basis of current data and reasonable estimates of expenditures
<br />of future Escrow Items or qtherwise in accordance with Applicable Law.
<br />The Funds shall be h�ld in an institution whose deposits are insured by a federal agency, instrumentality, or
<br />entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan
<br />Bank. Lender sha11 apply tlae Funds to pay the Escrow Items no later than the tune specified under RESPA. Lender
<br />sha11 not charge Borrower fdr holding and applying the Funds, annually analyzing the escrow account, or verifying
<br />the Escrow Items, unless Lender 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 />Lender shall not be required to pay Borrower any interest or earnings on the Funds. Bonower and Lender can agree
<br />in writing, however, ,that i�terest shall be paid on the Funds. Lender shall give to Borrower, without chazge, an
<br />annual accounting of the Fiinds as required by RESPA.
<br />If there is a surplus ofi Funds held in escrow, as defined under RFSPA, Lender shall account to Bonower for
<br />the excess funds in ac�arda.nice with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA,
<br />Lender sha11 notify Bonower as required by RESPA, and Bonower 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 deficiency of
<br />Funds held in escrow; as de�ined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower
<br />NEBRASKA--Single Farrnily--Fa�nie Mae/Freddie Mac UNIFORM INSTRUMENT DocMag/c �
<br />Form 3028 1/01 Page 3 of 17 www,docmagic.com
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