201503736 - Laserfiche WebLink

Browse

��15�373� 2. Ap��icationof Payments�r Proce�ds.Except as otherwise d�scribed in this�ect�on�, a11 pay�ents accepted and applied by Lender sha�l be applied in the follawing ard�r of pri�rity: �a)i�terest due under the l�ot�;�'b}princi�al�u�e und�r the l�a�e;(c}amaunts due under S�ctio�3. Suc�gayments shall be applied ta each Periodic Payment in the order in whi�h it became due.A.ny rema�ning amounts sha��be applied fust ta iat�charge�, second to any at�er amnunts du�un�ler t�is Security Instrument,an�then 1cv reduce the principal balance of�he l�Tate. If Lender rece�ves a payment from Barro�ver for a delinquent Period�c payment�vhich includes a sufficient amount to gay any�ate charge due,the payment m�ay be applied ta�he delin�uent payn�.ent and the late charge.If more than one Periodic Payment is outstanding,Lender may app�y any payment r�ceived from Bo�o�er ta the rep�yn�e�.t of the�'e�iod.i�Pa�ments if,an.c�to the�xten��hat,each�aym�nt ca.�.b�paid in fu��. To the extent that an.y exc�ss ex�st�aft�r the payme�t is applied to the fu�l payment of one or mare Periodic Payments,��ch excess may be appiied to an�lat�charges du�.'�o��ary prepaymex�ts shall be applied fvrst ta any prepa�ment char�es and�h�n as described in the Note. Any applicati�n of payments, insurance proceeds,ar Miscellaneous Proceeds to principal due under the Note sha11 nat extend�r postpone th�due date,ar chang�the amount,af the Period�c Paymen�s. 3. Fundsf�r Escraw�tems.I3orrov�er�ha��pay�o Le�der oa the day Periodic Payments a.r�due under th� Nate,until the Note�s paid in full,a sum�the"Funds")ta pro�ide for payment of amounts du�e far: (a)taxe� and as�essments and other items whiGh can aitain priority over this Securit�r Instrument as a lien ar enGumbrance on the Property; (b}iea�eho�d payments�r ground rents on the Proper�y, if any;(c)gremiums for any and a11 insura.nce required by Lender under Secti�n 5;and[d}Mortgage Insurance premiums, if any, or�.n�sums payab��by�orro�ver to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Se�tion 1.�. These items are ca11�d"Escrovv It�ms,"At origina��on or at any time during the term of the Loan,Lender may require t�.a�Community Associatian Dues,Fees,and Assessm�n�s,if any,be esGro�ved by Borrow�r,and�uch dues,f��s and as�sessme�t�sha�l be an Es�r�w Item.�o�rawer shall promptly furnish to Lender al�notices of amaunts ta be paid under this�ectio�. Borrow��r s�ali�ay I..�nder the Funds for Escro�v Items unless Lender�aives Borrower's�bligation to pa�y the Funds for any or al�Eserow It�ms.Lender may waive Borrower's ob�igation to pay ta Lender Funds for an�y ar all Escr��It��s at any time.An.�such�a�ver may only be in�'iting.In the even�o�such�vai�er, �orro�r�r shall pay directly,when and where payable,the amounts due far any Escrow Items f4r which pa�ment of Funds has been�vaived by Lenc�er and,if Lender requires,sha�1 furnish ta i,ender re�eipts evidencing such pa�ment w�thin such tim�peri�d as Lender may requi.�e. Borrower's obliga�io�to m.ake such payment�anc�to provide receipts sha11 for a11 purposes�be de�med to be a�ovenan�and agreement contained in this Securi�Ins�ru.ment,as the phrase"covenant and agreement" is used in Section�. �f Borrawer is�bligat�d to pay Escra�v Items directly,pursuant to a wai�er,an�Borrower fails to pay the amount due for an Escrow Item,Lender may exercise its rights under S�ction 9 and pay such amaunt and Borrower shali then be ob��gated und�r Sectian 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at an�time by a notice given in accordance with Secti�n 15 ands upon such revacation,Barrower sha�1 pay to Lender all Funds,and in such am�unts,that are then required under this Section 3. Lender may,at any time,col�ect and ho�d Funds ui an amo�nt(a)sufficient to perm�t Lender to appiy th� Funcls at the time specif�eci under RESPA,�and(b�not to exceed the maximum amount a lender can.require under RESPA, Lender�ha1�estimate the amount of Funds due on the basis of curr�nt data and reas�nab�e estimates of expenditures of future Escrow Items or a�herwise in accordance�vith App�icable Law. NEBRASICA�ingfe F�mily-Fannie MaelFreddie AAac UNtF�RM INSTRUMENT WITH MERS Fortn 34Z8 1141 VMP� VMPfiA(NE�(1302}A4 Wolters Kluwer Fir�a�cial Services Page 5 of 1? qD3341485�95 ��33 �G4 �517