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20�104274
<br />any payment or partial payment insufficient to bring the Loan current, without waiver ofany rigtrts hereunder or prejudice to
<br />its nghts to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the
<br />time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay
<br />interest on unapplied funds. Lender may hold such unapplied funds until Bonower makes payment to bring the I.oan current
<br />If Borrower does not do so within a reasonable period of time, I.ender shall either apply such funds or return them to
<br />Boreower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately
<br />prior to foreclosure. No offset or claim which Bonower might have now or in the future against Lender sha11 relieve
<br />Borrower from making payments due under the Note and tFis Security Instrument or performing the covenants and
<br />agreements secured by this Security Instrument.
<br />2. Application of Payments or Proceeds. Except as otherwise described in thts Section 2, a11 payments
<br />accepted and applied by Lender shall be applied in the following order of priority� (a) interest due under the Note;
<br />(b) principal due under the Note; (c) amounts dua under Section 3. Such payments shall be appli� to each Periodic Paymectt
<br />in the order in which it became due. Any remaining atnounts shall be applied first to late chazges, second to any other
<br />amounts due under this Security Instrument, and then to reduce tha principal balance of the Note.
<br />If Lender receives a payment from Bonower for a delinquent Periodic Payment which includes a su�cient amount
<br />to pay any late chazge due, the payment may be applied to fhe delinquent payment and the late charge. If more than one
<br />Pertodic Pa ent is outstanding, Lender may apply any payment rece�ved from Bonower to the repayment of the Periodic
<br />Payments i� d to the e�ctent that, each payment can be paid in full. To the extent that any excess exists after the payment is
<br />applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary
<br />prepayments shall be applied first to any prepayment charges and then as described in the Note.
<br />Any application of payments, msurance proceeds, or 1VIiscellaneous Proceeds to principal due under the Note
<br />shall not extend or postpone the due date, or change the amount, ofthe Periodic Payments.
<br />3. Funds for Escrow Items. Bortower shall �ay to Lender on the day Periodic Pa ents are due under the Note,
<br />until the Note is paid in full, a sum (the "Funds") to provide for payment ofamounts due for: �taxes and assessments and
<br />other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b)� leasehold
<br />payments or ground rents on the Property, if any; (c) premiums for any and all insurance rec�uired by Lender under Section 5;
<br />and (d) Mortga�e Insurance premiums, if any, or any sums payable by Borrower to Lender m lieu ofthe payment ofMortgage
<br />Insurance pramiums in accordance with the prqvisions of Section 10. These items are called "Escrow Items:' Atorigination
<br />or at any time during the term ofthe Loan, Lender may require that Community Association Dues, Fees, and Assessmerrts, if
<br />any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly
<br />furnisk► to Lender all notices of amounts to be paid under this Section. Bonower shall pay Lender the Funds for Escrow Items
<br />unless Lender waives Borrower's obligation to pay the Funds for a.ny or all Escrow Items. Lender may waive Bortower's
<br />obligation to pay to Lender Funds for any or all Escrow Items at any tune. Any such waiver may only be in writing. In the
<br />event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which
<br />payment of Funds has been waived by I.ender and, if Lender requires, shall furnish to Lender receipts evidencing such
<br />payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide
<br />rece�pts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrumetrt, as the phrase
<br />"covenant and a.�reemenY' is used in Sectian 9. IfBorrower is obligafed to pay Escrow Items directly, pursuant to a waiver,
<br />and Borrower fa�ls to pay the amount due for an Escrow Item, I.ender may exercise its rights under Section 9 and pay such
<br />amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the
<br />waiver as to any or all Escrow Items at any time by a notice given in aCCOrdance with Section 15 and, upon such revocation,
<br />Bonower shall pay to Lender all Funds, and in such amaunts, that are then required under this Section 3.
<br />Lender may, at any time, collect and hold Funds in an amount (a} sufiicient to pernut Lender to apply the Funds at
<br />tha time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender
<br />shall estimate the amount ofFunds due on the basis ofcurrent data and reasonable estimates ofexpenditures offutureEscrow
<br />Items or otherwise in accordance with Applicable Law.
<br />The Funds shall be held in an institution whose deposits are insured bya federal agency, instrumentality, or entity
<br />(including Lender, ifLender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall
<br />apply the Funds to pay the Bscrow Items no later than the time specified under RESPA. Lender shall not charge Bonower
<br />for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender
<br />pays Bonower interast on the Funds and Ap�licable Law pernuts Lender to make such a charge. Unless an agreement is
<br />made in writing or Applicable Law requires mterest to be paid on the Funds, Lender shall not be required to pay Bonower
<br />any interest or earnings on the Funds. Borrower and Lender canagree in writing, however, that interest shall be paid on the
<br />Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA.
<br />If there is a surplus of Funds held in escrow, as defined under RESFA, Lender shall account to Borrower for the
<br />excess funds in accardance with RESPA. If there is a shortage of Fwlds held in escrow, as defined u»der RESPA, Le�ider
<br />shall notify Bonower as required by RESPA, and Bonower shall pay to Lender the amount necessary to make up the
<br />shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in
<br />escrow, as defined under RESPA, Lender shalt notify Borrower as re yuued by RESPA, and Borrower sha11 payto Lenderthe
<br />amount nacessary to make up the deficiency in accord�nce with RE5PA, but in no more than 12 monthly payments.
<br />Upon payment in full ofall sutns secured by this Security Instrument, Lender shall promptlyrefund to Borrower any
<br />Funds held by I.ender.
<br />4. Charges; Liens. Bonower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
<br />Properly which can atta.in priority over this Security Instrument, leasehold payments or ground rents on the Property, ifany,
<br />and Community Association Dues, Fees, and Assessments, ifany. To the extent that these items are Escrow Items, Borrower
<br />shall pay them m the manner provided in Section 3.
<br />Bonower shall promptly dischaz�e any lien which has priority over this Security Instrument unless Bonower: (a)
<br />agrees in writing to the payment of the oblt ation secured by the lien in a manner acceptable to Lender, but only so long as
<br />Borrower is performing such agreement; (b� contests the lien in good faith by, or defends a�ainst enforcement ofthe lien in,
<br />legal proceedings which in Lender's opiraon operate to prevent the enforcement of the lien while those proceedings are
<br />pending, but only until such proceedings aza concluded; or (c) secures from the holder ofthe lien an agreement satisfactoryto
<br />I.ender subordinating the lien to this Security Instrument. IfLender determines that anypart ofthe Property is subject to a
<br />lien which can attain priority over this Securriy Instrument, Lender may give Bonower a notice identifymg tize lien. Within
<br />10 days of the date on which that notice is given, Borcower sha11 satisfy the lien or take one or more of the actions set forth
<br />above in this Section 4.
<br />Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service
<br />used by I.ender in connection with this Loan.
<br />5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on'the Property
<br />insured against loss by fire, hazards included within the term "extended coverage," and any other hazazds incfuding, but not
<br />limited to, earthquakes and floods, for which Lender reyuires insurance. This msurance sha11 be maintained in the amounts
<br />(including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding
<br />sentences can change durin� the term of the Loan. The insura.nce carrier providing the insurance shall be chosen by
<br />Bonower subject to Lender s right to disapprove Bonower's choice, which rigrct shall not be exercised unreasonably.
<br />Lender may require Borrower to pay, in connection with this Loan, aither: (a) a one-time charge for flood zone
<br />determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification
<br />services and subsequent charges each time remappmgs or similar changes occur which reasonably might affect such
<br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UATIFORM INSTRUMENT
<br />12439.CV (1/08) 03
<br />(MERS) Form 3028 1/01 (poge 3 of 8 pagesJ
<br />Creative Thinking, Inc.
<br />GOTO(00258ebS)
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