201207005 - Laserfiche WebLink

Browse

20120700� 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. Borrower 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 variarions by jurisdicrion to constitute a uniform security 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 principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shalI also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. I�owever, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender uupaid, Lender may require that any or ail subsequent gayments due under the Note and this Security Instrument be 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 ch�k, provided any such check is drawn upon an insritution whose deposits aze insured by a federal agency, instrumentality, or entity; or (8) Electro�c Funds Transfer. P�yments are deemed r�eived by Lender when received at the lc�c�tion designatec� ia the Note or at such other Iocation as may be d�ignatec� by Lender in accordance with the notice provisions in Section 15. E.endes may retur� aaayy pay�e� or partiat payment if the payment or partial paymeats aze insufficient to bring the Loa�; current. �.ender may accept any payment or partial payment insu�cient to bring the Loan current, tvithout vvaiver of any rights ktei�eunder or prejudice to its rights to refuse such payment or partial gayments itt the future, but iznder is not obligated to appIy such paymeats at ths time � payments are accepted. If each Periodic Payment is apPiied as of its scheduled due date, ttieB Lender � not pay interest on vnapplied fimds. Lenc�er �ay hold such unapplied funds until Borrovver makes payments to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such fimds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediateiy prior to foreclosure. No offset or claim which Borrower might h�ve now or in the firture agaiIISt Lender st�ali reIieve Borrower from malang payments due uncfer the Note arni this Security Instrument or performing the covenants and agreements se.cured by this �curiry Iffitr�ment. 2. Application of Payments or Proceeds. Except as otherwise described in this Secrion 2, aII payments accepted and applied by Lender shall he applied in the following order of priority: (a) interest due under the l�ote; (b) principal due under the Note; (c) amounts due under Se,ction 3. Such payments shall be applied to each Period.ic Payment in the order in which it became due. Any remaining amounts shall be applied first to late chatges, 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 Payment which includes a sufficient amount to pay any late charge 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 BoFrower to the repa�tment of the Periodic Payments if, and to the extent that, each payment can be paid in fu11. 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 chazges due. Voluntary prepayments sha11 be applied first to any prepayment charges and then as described in the Note. NEBRASKA-Single Family-Fennie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3028 1/01 VMP � VMP6INE) (1105) Woiters Kluwer Financial Servic� Page 4 of 17