|
2� 1 �� 1827
<br /> UNIF�RM COVENANTS. Borrowe� and Lender co��nant and agree as foll�vvs:
<br /> 1. Paymen� of Pr�nc�pal, Interest, Escr�w I�em�s, Prepaymen� Charges, and La�e Charges. Ba�rrower
<br /> shall pay when due the pr�ncipal of, and xn�eres� on, �he deb� e�idenced by �he Nate and any prepaymen�
<br /> charges and Ia�e charges due under �he Note. Barrower shall a�so pay funds for Escrow Items pursuant �o
<br /> Sec�ian 3. Paymen�s due under the No�e and �his Secur��y �n��rument shall be made in U.S. currency.
<br /> HoweW�r, if any check flr o�her instrumen� re�e��ed by Lender as paym�nt under �he Note or this Security
<br /> �ns�rumenti �s re�urn�d to Lender unpaid, Lender may require that any or all subsequen� payrnents due under
<br /> �he No�e and this Secu�ri�y Instrumen� be made �n �ne or m��re of th� fallowing f�rms, as sele��ed by Lende�:
<br /> (a} cash; �b} money �rder; �c} cer��f�ed check, bank che�k, �reasurer's check nr cashier'� check, pravided any
<br /> such check is drawn upon an ins�i�u�i�n wha�e depasi�s are insured by a federa� agency, instrumen�ality, or
<br /> entity;or�d�Electroni�Funds Transfe�r.
<br /> Paym�nts are d�em�d recei�ed by Lender when recei�red at the lnca�ion designated in �he No�e ar at such
<br /> o�her Ioca�ion as may be designated by L�nder in accordance w�th the no��ce pra�isxons in Sec��on �5. Lend�r
<br /> may r�turn any �ayment or par�ial paymen� �f�he paymen� ar par��al paymen�s are insuf�cxen� to bring �he
<br /> Loan curren�. Lender may accep� any paymen� ar partia� paym�n� insufficien� �o hr�ng the Loan �urren�,
<br /> vvithau�waxver af any r�gh�s hereunde�r ar prejudice ta i�s r�ghts to refuse such paymen� ar par�ia� paymen�s in
<br /> the future, bu� Lender Ys no�obiiga�ed �o appiy such paymen�s at the trme such paymen�s are a�cepted. �f each
<br /> Period�c Payment is appli�d as of �ts scheduled due date, the� Lender need n�� pay in�er�st on unapplied
<br /> funds. Lender may hald such unappl�ed funds un�il Borro�er makes paymen� t� bring the Loan current. �f
<br /> Borrovver do�s na� do so wi�h�n a reasona��e period of�ime, Lender shail ex�her app�y such funds or re�urn
<br /> them�o B�rrov�er. If not appl�ed earlier, su�h fun�ls will be app�ied�� �he au�s�anding princ�pal balance under
<br /> �he No�e immediately prior ta foreclosure. No offset or claim �hich Barrower migh� have naw ar �n the
<br /> future against Lender shall re�xeve Borr�wer from making payments due under the Note and this Securi�y
<br /> �ns�rument or performing the cavenants and agreemen�s secured by�his S�cuxity Ins�rument.
<br /> 2. Applica�ian of Payments or Proceeds. Excep� as o�her�ise descr�bed in th�s Sec�ion 2, al1 payments
<br /> accepted and app�xed by Lender shal� be applied in �he falla�ving arder of prior�ty: �a} in�erest due und�r �he
<br /> Not�; �b} prin�ipa� due ur�der the Nate; �c� amounts due under Sec�ion 3. Such payments sha�� be applied ��
<br /> each Periadic Fayment in the arder in vWh�ch xt became due. Any remaining amounts shall be applied �rs� to
<br /> �at� charges, second to any o�her amounts due under �his Security �ns�rumen�, and then �o reduce the principa�
<br /> balar��e af the No�e.
<br /> If L�n��r receives a paymen� fr�m Borrawer for a delinquen� Period�c Paymen� which inc�udes a suffc�en�
<br /> amoun�to pay any late charge due, �he payment may be appl�ed to the de�in�u�n�paymen� and the Ia�e charge.
<br /> �f more than one Period�c Payment is ou�s�anding, Lender may apply any paymen� recer�ed from Bo�rrower ta
<br /> �he r�paymen� of the Pexiodic Paymen�s if, and �o the ex�en� �hat, each paymen� can be paxd �n fu��. Ta the
<br /> ex�en� tha� any ex��ss exists af�er �he paymen� is appi�ed t� the full payment of flne ar more Peri�dic
<br /> Payxnents, such excess may be app��ed�o any �ate charges due. Valun�ary pr�payments sha�i be app�ied firs��o
<br /> any prepaymen�charges and�hen as descr�bed in the Note.
<br /> Any application flf paymen�s, insurance proceeds, or M�sce�laneous Praceeds to principaX due under �he
<br /> Nate shall no�ex�end or pos�pone the due date,or change th�amoun�,af the Perindic Payments.
<br /> 3. Funds for Escrovv Items. Borrower sha�I pay ta L�nde�r on the day Period�c Payments ar� due under
<br /> the Na�e, unti� tihe Note is pa�d in full, a sum �the "Funds"} to provide fox paymenti of amoun�s due for: (a)
<br /> taxes and assessmen�s and other i�ems vvhxch can a�tain priari�y o�er th�s Secur��y �nstrumen� as a Iren or
<br /> encumbrance on the P�roperty; �b} leaseha�d paymen�s ar ground re��s an �he Praper�y, if any; �c} premiums
<br /> f�r any and aIl insurance requir�d by Lender under Sec�i�n 5; and �d} Mor�gage Insurance premiums, if any,
<br /> ar any sums payab�e by Barro�ver ta Lender �n lieu af the payment nf Mor�gage �nsurance premiums in
<br /> accordance �vith th� provisions af Se��ion 1�. These �tems a�e calied "Escro�v Ytems." A� flrig�na�ion o�r at
<br /> an� time during �h� �erm of the Loan, Lender may require �ha� Communi�y Assacia��on Dues, Fees, and
<br /> Assessmen�s, if any, be escrowed �y Borrawer, and s�uch du�s, fees and assessments shal� be an Escrow �tem.
<br /> Borrovver shail promp�ly furnish �o Lender a�l no�ices �f amflun�s to be pard under this Sec��on. Borrovver
<br /> shal� pay L�nder the Funds far Escr�w ztems unless Lender vvai�es Barrower's abl�ga��on to pay�he Funds for
<br /> any or all Escrov� ��ems. Lender may wai�e Bor�ro�rer's abliga��an to pay to Lender Funds for any ar all
<br /> Esc�row Items a� any �ime, Any such vvai�er may only be in writing, zn the even� of such �ai��r, Borr�wer
<br /> shal� pay d�rec�ly, �h�n and �h�re payab�e, �he amoun�s due for any Escr�w �tems fo� which payment af
<br /> Funds has been wai�ed by Lender and, if L�nder requ�res, shail furnish �a Lend�r rece�p�s e�idencxng such
<br /> payment wi�hin such t�me period as Lender may re�uire. Borrawer's obligat�on �o make such payments and�o
<br /> NEBRASKA-5ing�e Family -FannieMaelFreddiellJ�ac UNIF�RM INSTRU1111ENT
<br /> F o rm 3��8 11�'I
<br /> �.aser Forms lnc.�80�}44E-3555
<br /> LF�#FNMA3�28-MERS 91�� Page 4 of 13 I n t�falS:
<br /> �......`�
<br />
|