201201751 - Laserfiche WebLink

Browse

. 201201751 Borrower warrants and will defend generally the title to the Property against all claims and demands,subject to any encumbrances of record. 'IHIS SF,CURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of,and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuanY fo Scction 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security [nstrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument he made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality,or entity;or(d) Electronic Funds Transfer. Payments are deemed received by Lender when received az the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section I5. Lender may return any payment or partial payment if the payment or partial payments are insu�cient to bring the Loan current. Lender may accept any payment or partial payment insu�cient to bring the Loan curzent, without waiver of any ri�hts hereunder or prejudice to its rights to refuse such payment or partial payments in the future,but Lender is not obligated to apply such payments at the time such paymenu are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future agai�st Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or perForming the covenants and a�;reements secured by this Security Instrument. 2. Application of Paymen[s or Proceeds. Except as othenvise described in this Section 2, all payments accepted and applied by Lender shall 6e applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument,and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Paymen[which includes a sufficient amount to pay any late chazge due,the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borzuwer to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may 6e applied to any late charges due. VoWntary prepayments shall be applied first to any prepaymen[ charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date,or change the amount,of the Periodic Payments. 3. Funds for Escrow I[ems. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the"Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or NEBRASKA-SingleFmnity-FannieMae/FreddiehlacllNIFORD9INSTRLIn1E�TWITHh1ER5 Fnrm302R 1/01 Pxge 4 of 16 Inilials: �