201209563 - Laserfiche WebLink

Browse

201209563 2. Applicationof Paymentsor Proceetls.Escept as otberwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the fottowing order of priority: (a)interest due under the Note; (b)principal due under the Note; (c)amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due.Any remaining amouuts shall be applied first to late charges, second to any other amounts due under this Security Inshvment,and then to reduce t6e principal balance of the Note. If Leuder receives a payment from Borrower for a delinquent Periodic Paymeut which includes a sufficient amount to pay any late charge due,the paymenl 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 Bonower to the repayment of the Periodic Payments if,and to the extent that, each payment can be paid in fu1L To the extent that any excess exists afrer 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 first to any prepayment charges and then as described in the Note. Any application of payments, iusuraoce proceeds,or Miscella�eous Proceeds to principal due under the Note shall uot extend or postpone the due date,or change the amount,of the Periodic Payments. 3. Fundsfor Escrow Items. Borrower shall pay to Lender on the day Periodic Payments aze due under the Note,until the Note is paid in full,a sum(the "Funds")to provide for payment of amounts due for: (a)taxes and assessments and other items which can attain priority over this Sewrity Instrumeut as a lien or encumbrance on the Property; (b)leasehold payments or ground rents on the Property,if any; (c)premiums for any and all insurance required by Lender under Section 5; and(d)Mortgage Insurance premiums, if any, or any sums payable by Boirower to Lender in lieu of the payment of Mortgage Insurance premiums in accordauce with the provisions of Section 10. These items are called "Escrow Items."At origination or at any time during the term of the Loan,Lender may require that Community Association Dues,Fees,and Assessments, if any,be escrowed by Borrower,and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish W Lender all notices of amounts to be paid under this Secdon. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligatioo to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly,whe�and where payable,the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such paymen[s and to provide receipts shall for all purposes be deemed to be a covenant and ageement contained in this Security Iushument,as the phrase "covenant and a�eement" is used iu Section 9. If Borrower is obligated to pay Escrow Items directly,pwsuant to a waiver,and Borrower Fails to pay the amount due for an Escrow Item,Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at aoy time by a notice given in accordance with Section 15 and, upon such revocation,Borrower shall pay to Lender all Funds,and in such amou¢ts,that are then required under this Section 3. Lender may, at any time, collec[and hold Funds in au amount(a)sufficient to permit Lender to apply the Funds at the time specified under RESPA,and(b)not to exceed the maximum amount a lender can requue under RESPA. Lender shall estimate the amount of Funds due o�the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable La�v. NEBRASKASingle FamltyFannle Mee/Fretltlle Mac UNIFORM INSTRUMENT WITH MERS Form 30281/01 VMP� VMP6A�NE)(HOS).00 Wotters KluaarFlnancial Services Page 5 of 17 III IIIIIIIII��IIIIIIIIII'IIIIIIIIIIIIIIIII'llllll � �//�� r� � y 1_— q03310975906 0233 344 0517 �v 1 \ � l