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�0120797� <br />BnRRnWF.R COVENANI'S lhut Borrower i�, lawfully seised uf lhe eslate Fiereby cunveye;d and hns lhe righl l�t <br />graut aud convey the Property and that the Property is uuencumbered, except for encumbrances af record. <br />Borrower warrants and will defend generally the title to the Property against all claims and deinands, subject to <br />any encumbrances of record. <br />THIS SECURITY INSTRiJMENT combines uniform covenants for national use and non-uniFonn covenants with <br />limited variations by jurisdiction to constitute a uniform security instrument covcring real propeny. <br />Uniform Covenants. Borrower und Lender covenant and agree as ti�ll��ws: <br />1. Payment of Principal,lnterest, Escrow Items, PrepaymentCharges, and Late Charges. ii��rrc�wCr <br />shall pay wheu due the principal of, and interest on, the debt evidenced by the Note and auy prepayment <br />charges and late charges due under khe Note. Borrower shall also pay fw�ds for Escro��v It�nls pursuant to <br />Section 3. Payments due under the Note and this Security Ins�tnunent shall be made in tJ.S. currency. <br />IIowever, if any check or other instnunent received by Lender as pay�nent under the Note or this Security <br />Instnuncnt is rcturncd to Lcndcr unpaid, Lcndcr may rcquirc that any c?r all subscclucnt paymcnts duc undcr <br />the Note and this Security Instrument be made in one or more of� the fotlowing tiirms, as selectcd by Lender: <br />(a) cash; (b) money order; (c) certified check, bank check, treasurer's chc;ck or cashier's ch�ck, provided any <br />such check is drawn upon an institution whose deposits ure insured by a federal agency, instnunentality, or <br />entity; or (d} Electronic Funds Tzansfer. <br />Pay�uents are deeined eeceived by Lender when received at the location designated in the Note or at such <br />other location as may be designaYed by Lender in accordance with the nptice provisions in Section l5. <br />Lender may retum any paytnent or partial payment if the payment or partial payments are insufficient to <br />bring thc Loan currcnt. Lcndcr ma,y acccpt any paymcnf or pariial paymcnt insufficicnt to bring thc Loan <br />current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment ar partial <br />payments in the future, but Lender is not obligated t� applg such payments ut the time such payments are <br />acceptui. If each Periodic Payment is applied ar of its schululed due date, then Lender need not pay interest <br />on unapplied funds. Lender may hold such unapplied fiinds until Borrower makes paymenGs to bring the <br />Loan current. If Borrower does not do so within a reasc>nable period of time, Lencier shall either apply such <br />funds or return them to Borrower. If not applied earlier, such funds ���ill be applied to the outstandin€ <br />principal balance under the Note immediately prior to ti�reclosure. No ot7'set or claim which IIorrower might <br />have now or in thc future against Lender shall relieve Borrotuer from making payments due under the Note <br />and this Seciirity Instrument or perFonning the covenants and a�reements secured by this Security <br />Instnunent. <br />2. Applieationof Paymentsor Proeeeds.fixcept as otherwise describeci in this Section 2, all payments <br />accepted and applied by Lender shall be applied in the fallowing order of prioriiy: (a) interest due under the <br />Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to <br />each Periodic Payment in the order in which it became due. Any remaininr� ainounts shall be applied first to <br />late charges, second to any other ainonnts due under this Security Instrument, and then to reduce the <br />principal balance of the Note. <br />If' Lender rec:eives a payment iiom Borrower For a delinquent Periodic Payment which includes a sufficient <br />amount to pay any Late charge due, the payment may be applied ta the delincluent payment And the late <br />charge. lF more than one Periodic Payment is outstanding, Lender may apply any payment rc;ceived from <br />Borrowet to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in <br />full. To the extent that any excess esiFts after the payment is applied to the tull payment of one or more <br />Periodic Payments, such excess may be applied to any late charg�s due. Voluntary prepayments shall be <br />applied first to any prepayment charges and then as described in the Note. <br />NEBRASKA-s'ingle Family-Fannie A1ae/Freddie Mac UNIFORM INSTRUMENT <br />VMP � <br />Vdoltars Kluwer Financial Services <br />Fcrm 30281f01 <br />VA1P8(NE) ;1105�00 <br />Page 4 of 17 <br />� � <br />+�� <br />