201209236 - Laserfiche WebLink

Browse

�o��Q9�� BORROWER COVENANTS that Borrower is lawfully seised of the esta#e hereby conveyed and has thc righc to grant and eonvey the Property and that the Property is unencumbered, except for encumbrances of record. &�rrower warrants and will defend �cnerally thc title to the Property against all claims and demands, subjec;t to any cncumbrances of recard. TH1S SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrumient covering real property. UNIFORM CiJVENANTS. Borrower and Lender covanant and agree as follows: 1. Payment of Principal, Interest, Escrow items, Prepayment Charges, and L�ate Charges. Barrower 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 si�all also pay funds for Es�row Items pursuant to Sectiort 3. Payments due under ihe Note and this Security Instrument shall be made in U.S. currency, However, if any eheck ar other instrument received by Lender as paynnent undex the Noie or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the 1Vote and this Security Instrumen# be made in one or more of the fallowing forms, as selected by Lenc�er: (a) eash; {b) money order, (e} certified check, bank check, treasurer's check or cashier's check, provided ar�y such chec� is drawn upon an institution whose deposits are insured by a federat agency, instrumentality, or entity; or (d} Electronic Funds Transfer. Payments are deemed received by I.ender when receivad at thc 1QCation designated in the 1Vote or at such other location as may be designated by Lender in accordance with the notice provisions in Secdon 15. L,ender may return any payment or partial paynnent if the payment or partial payments are insufficient to bring the Loan current. Lender may aecept any payment or partia( payment insufficien[ to bring lhe Loan current, without waiver o� any rights hereunder or prejudice to its rights to refuse such payment ar partial payments in the future, but Lender 4s not obligated to apply such payments at ihe time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay inlerest on unappiied funds. Lender map hold such unapplied funds until Borrower makes paymenl to brzng the Loan c;urrent. Tf Borrower daes not do so withir► a reasonable period of time, Lendez shall either apply such funds �r return Them to Borrower. If noc applied earlier, such funds will be applied to the oulstanding principal balanee under the Nole immediafiely prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower fcotn making payments due under [he Nate and this Security Instrument �r performing the covenants and agreements secured by this Security Instrument. 2. Applicatian of Payrnents ar Proceeds. Except as otherwise described in this Section 2, ali payments accepted and applied l�y Lender shall be applied in the followzng or�er of priority: (a) interest due under the Nate; (b) principaJ due under the Note; (c) amounts due under Sectian 3. Such payments sl�all be applied to each Periodic Payment in the order in wbich it became due. Any rema�ining amounts shall be applied first to late charges, seaand to any other au�ounts due under tivs Security Instrument, and then to reciuce the principal balance of tiie Note. If Lender reeeives a payment from Borrower for a delinquent 1'eriodic Payment wbich includes a sufficient amount ta pay any late charge due, the payment may be applied to the delinquent payment and tl�e late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from �3orrower to the repayment of the Periodic Payments if, and to the exteot ttiat, each payment can ba paid in full. 'I'o the extent tltat any exawss exists after the payment is applied ta ehe full paymsnt of one or enore Pes9odic Payments, such excess may be applied to any iate charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as describad in the Note. Any appiication of payments, insurance proceecis, or Miscellaneaus Proceeds to principal due under th� Note shail not extend or postgone the due date, or change the amount, of the Periodic Payments. 3. Feznds for Escrow Itemis. Borrower shall pay to Lender on ihe day Periadic Payments are due undcr the Note, until the Note is paid in full, a sum (the "Funds"} to pravide for paynnent of aznounts due for: (a} taxE;s and assessments and other items which can attain priarity over this Sec�rity Instrument as a Iien or encurnbrance on the Property; tb) leasehold payments �r ground rents on the Property, if any; (c} premiums Iar any and all insurance requzred by Lender under Section 5; and {d} Mortgage Insurance 12-06-d00124 NEBRASKA - Single Family - Faneie MaeJFreddie Mac UfV1F0AM lMSTRUMENT Wt7H MERS �-6A(NEj tae�al Page 4 of t5 Form 3028 1101 � � �