201209436 - Laserfiche WebLink

Browse

201209436 BORROWER COVENANTS that Bonower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, ezcept for encumbrances of record. Borrower warrants and will defend generally the ti[le to the Property against all claims and demands, subject ro any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. Uniform Covenants. Borrower and Lender covenant and agree as follows: 9. Payment of Principel, Interest, Escraw Items, Prepayment Charges, end Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the No[e and any prepayment chuges and late chazges due under[he Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note a�d this Security Instnunent shall be made in LT.S. currency. However, if any check or other instnunen[received 6y Lender as payment under the Note or this Security Instrument is retumed to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by L.ender: (a) cash; (b)money order; (c) certified check, bank check, treasurer's cherk or cashier's check, provided any such check is drawn upon an it�stitu[ion whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments aze deemed received by Lender whe�received at the location designated in the Note or at such other location as may be designated by Lender in accordance wi[h the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufFicient to bring the Loan current. Lender may accept any paymen[or partial payment insufFicient to bring the Loan wrrent, without waiver of any rights hereunder or prejudice ro its rights to refuse such payment or partial payments in the fumre, 6ut Lender is not obligated to apply such payments at the time such payments aze accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender nced not pay interes[ on unapplied funds. Iznder may hold such unapplied funds until Borrower makes payments to bring the L.oan cunent. If Borrower does no[do so within a reasonable period of time, Lender shall either apply such funds or retum them to Bonower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note imme�iately prior[o foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and[his Security Iasvument or performing the covenants and agreemen[s secured by this Security Instrument. 2. Applicetion of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accep[ed and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; @)principal due under the Note; (c) amoun[s due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. My remaining amounts shall be applied first to late chazges, second to any other amounts due under[his Security Instrument, and then to reduce the principal balance of the Note. If L,ender receives a payment from Bonower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to[he delinquent payment and the late charge. If more than one Periodic Paymert 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 thaz 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 fi�t to any prepayment charges and then as described in the Note. NEBRASKA-Sirgle Femily-Fennie Mae/FretlOie Mec 11NIFOflM INSTRUMENT Form 3028 1/pt yry�p(.7 VMP8INE)�11�51.00 WOIIBI9 KluWer FlnenCiBl$BrviCB6 PdgB 4 Ot 17