201209312 - Laserfiche WebLink

Browse

201209312 F30RROWER COV�NANTS t1�at Borrower is lawfully seised of the estate hereby�coaveyed and has the right to �anY aaid convey the Property and that the Property is unexicuznbered, exqept for er,cumbranoes of record. Borrower warrants and wul defend generally the title to the ProperLy against all clums and demands, subject to any encum6rances of record. TFIIS S�C'URITY INSTRLT_N�iT combines uniform covenants for national u,e and non-uniform covenants with limited variations by j�sisdiction to constitufe a uniform security instnunent covering reat prOperry. Uniform Covenants. Bonower and Lender covenant and agree as foIlows: 1. Payment of Priqcipal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Sonower shall pay when due rhe princlpal of, aad inYerest on, f7ie debt evidenced by the Note and any prepaym�t chargcs and late ct�arges due under the Note. Borrower shall also pay funds for Escrow Items puxsuant to Section 3. Payments due undex the Note and fliis Security InstnunenY shall be made ia'U.6. currency. Howevcx, if any check or other instnament received by Lender as payment under the Note or this Security Instnunent is retumed to Lender impaid, Leiider may xequue tUat any or all subsequent payments due under the Note and this Security Inshument be inade in one or more of the follotiving fonns, as selected by Lender: (a) cash; (b)money order, (c) cesfifled check bank check, treasurer's cfieck or cashier's check, provided any sueh check is drawn upon an institution whose deposits aze insured by a federal agency, instnunentality, or enriry; or(d)Electronic Funds Txa�sfer. Payincnts are deemed received by Lcnder when received a[the location des b�nated in the Note or at such other locarion as may be dcsignated by Lender in accordance�vith the norice provisipns in Seetion 15. Lendcr may return any paymenf or parti al payment if the payment or par[ial paymcnts are insufficienC±o bring the Loan current Lcnder may accept any payment or partial payment insufficient io bring tLe Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or paztial payments in the future, but Lender is not obligaTed to appty such ga5anents at the time suGh payments are accepted. If each Periodic Pa}nnent is applied as of its schedLded due date, then I,euder need not pay inCeres�t on unapplied funds. Lender may hold such unapplied funds until Borrower makes payinents to bring the Loan current. If Bprrow�does not do so within a reasanable period of ti�ne, I,ender shall eiYher apply such funds or return them to Borrower. If not applied earlier, such funds will be app1ied to the outstanding principal balance under the Note immzdiately prior to Poreclosure. No offset or claim wluch Borrower might have now or in thz future against Lender shall relleve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreewents secured Uy this Security Instnmient_ 2. Application of Payments or Proceeds. Lxcept as otherwise described in tliis Section 2, ali gaymems accepted and applied by Lender shall bc applicd in the following order of piiorify: (a) ixderesl due under the Note; (b)principal due under the Note; (c) amounts due under SectiQn 3. Such payments shall be applied to each Periodic Fayvieirt in the oxder in wluch it beeacne due. Any rP**�ain�ng alnoLmts shall be applied fust to late charges, second to any other arnounts due under this Security Instrument, and then to reduce the principal Ualance of the Note. If Lendcr receives a payment from Borrowar for a delinquent Periodic Payment which includes a sufficient amount fo pay any late charge due, the paymenfi may be applied to the delinquent�payinent and the late chazge. If more thax!one Periodic Payment is outstanding, Lender may apply any payment received from Borro�ver to the repayment of the Periodic Payments if, and to the extent that, each payment cau be p8id in full. To the extent that any�zcess exists after the payment is appfied to the full payment of one or more Pa3odic Payments, such excess may be appl3ed to any late ehaxges dne. Vohmtary prepayments shall be applied first to any prepayznent charges and then as describeci in the Note. znoazssa N��FSKA$ioyle Fam:ty-Fanrtie M E��etldle M ac�W FORM INSTROM ENT Porm 3026 1!0 f NMP� Vld?6(NE)(11�5) ll'oLers KWwer Financizl Servic=s Page 4 of 1]