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201104759 <br />THI5 SECURITY IN5TRUlyIENT combines uniform covenants for national use and non-uniform covenants with limited <br />- variations by jurisdiction to constitute a uniform security instiv.ment covering real property. <br />Uniform Covenahts. Bonower and Lender cavenant and agree as follows: <br />__ 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall <br />pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late <br />charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under <br />the Note and this Security Inshument sha.11 be made in U.S. currency. However, if any check or other instntment received <br />by Lender as payment under the Note or this Security Insirument is returned to Lender u�paid, Lender may r�uire that <br />any or a.11 subsequent payments due under the Note and this 5ecurity Instrument be made in one or more of the following <br />forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's <br />check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, <br />or entity; or (d} Electronic Funds Transfer. <br />Payments are deemed received by Lender when received at the loca.tion designated in the Note or at such other location <br />as may be designated by Lender in accordance with the notice provisians in Section 15. Lender may return any payment <br />or partial payment if the payment or partial payments are insufficient to bring the Loa.n curren� Lender may accept any <br />payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice <br />to its rights to refuse such payment ar partial payments in the future, but Lender is not obligated to apply such payments <br />at the time such payment� are a.ccepted. If each Periadic 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 payments to bring <br />the Loa.n current. If Borrower does not do so within a reasonable period of time, Lender sha11 either apply such funds or <br />retum them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the <br />Note immediately prior to foreclosure. No offset or claim which Borrower nnight have now or in the future against Lender <br />sha.11 relieve Bonower from making paymenis due under the Note and this 5ecurity Instrument orperforming the covenants <br />and agreements secured by this Security Instrument. <br />2. Applicat'ton of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted <br />and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal <br />due uttder the Note; (c) amounts due under Section 3, Such payments shall be applied to ea.ch Periodic Payment in the <br />order in which it became due. Any remaining amounts sha11 be applied first to late charges, second to any other amounts <br />due under this Security Instiument, and then to reduce the principal balance of the Note. <br />If Lender receives a payment from Borrower for a delinquent Periodic Payment wlrich includes a sufficient amount to <br />pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If moze than one <br />Periodic Payment is outstanding, Lender may apply any payment received from Borrawer to the repayment of the Periodic <br />Payments if, and to the extent tha.t, each payment can he paid in full. To the extent that any excess exists after the payment <br />is applied to the fu11 payment of one or more Periodic Payments, such excess may be applied to any late charges due. <br />Voluntary prepayments sha11 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 Note shall not <br />extend or postpone the due date, or change the amount, of the Periodic Payments. <br />3. Funds for Escrow Items. Bonower shallpay ta Lender on the day Periodic Payments are due under the Note, until <br />the Note is paid in fu11, a sum (the "Funds") to provide for payment of amounts due for: (a} talces and assessments and <br />other items which can attain priority over this 5ecurity Insh�ument 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 required by Lender under Section <br />5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of <br />Mortgage Insurance premiums in accordance with the provisions o:f Section 10, These items are called "Escrow Items." <br />At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, <br />and Assessments, if any, be eserowed by Borrower, a.nd such dues, fees and assessments shall be an Escrow Item. Bonower <br />shall promptly furnish to Len.der all notices of amounts to be paid under this Section. Borrawer sha.11 pay Lender the <br />HCFC3-00359 <br />NEBRASKASingie Famiy-Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 3028 1/O7 <br />VMP� <br />Woltera Kluwer Finarroial Servicea 20110617A.0,0.0.4002-J20110224Y Page 3 of 13 <br />1 <br />