201203441 - Laserfiche WebLink

Browse

2n� 2n�4� � BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Bonower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for narional use and non-uniform covenants with limited variations by jurisdicrion to constitute a uniform s�uriry instrument covering real property. Uniform Covenants. Bonower 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 prineipal 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 Fscrow Items pursuant to Se.crion 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 Instrument is returned to Lender unpaid, Lender may require that any or all subseqnent payments due under the Note and this Security Instrument be made in one or more of the following forms, as sele�ted by Lender: (a) cash; (b) money order; (c) certified check, bank ch�k, 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 ernity; or (d) II�tronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other lc�cation as may be d�ignated by Lender in accordance with the notice provisions in Se,ction 15. I�ender may return aay payment or partial payment if the payment or partial payments are insuff'cient to bring the I.oan current. T�r may accept any payment or partial payment insu�cient to bring the Loan current, without waiver o€ any rights hereunder or preiudice to its rights to refuse such payment or partial payac�ents in the future, t�w� I.�sder is not obligated to apply such payments at the rime such payments are �ted. If each Periodic Payment is applied as of its scheduied due date, then Lender need not pay interest on unagplied fiuicis. I�nc� may kold sucfi unappliefl funds until Borrower makes payments to bring the Loan cvrrent. If Borrovver d�s not do so within a reasonable period of time, Lender shatl either apply such fimds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance uncter the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future agair�s� Lender shall relieve Borrower from making payments due under tfie Note and this Security Iastnrment or performing ttie covenants and agreements secured by this Security fns�ment. 2. Application of Payments or Proceeds. Except as othervvise described in this Section 2, all payments accepted and applied by Lender shall be 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 Iate 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 Bonower for a delinquent Periodic Payment 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 Borrower 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 be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT VMP Q Wolters Kluwer Financial Services Form 3028 1/O1 VMP6(NE) (1105) Page 4 of 17