201605491 - Laserfiche WebLink

Browse

2� 1 ��5491 Z. Applicatiflnof Payments vr Pro�e�ds.Except as other�ise described in this Section 2, a11 payments a�c�pted and applied by L�n�er shall�e ag�lied in the f��lotiving Q�der of p�iorxty: �a}interest due under the Not�;(b}pr�ncipa�due under the Note; �c}am�unts due under S�ction 3. Such payments�ha��be applied to each F'eriadic Paym�nt in the order in which it b�carne due.Any remaining amounts�ha11 be app�ied fu'st to l��e charges,second to an�other ar�vunts due�nd�e�th�s Se�urity Instr�ment,and then to reduce the principal balance of the Nate. If Len�er recei��s a payn�ent from Barro�rer far a delinquent P�ri�dic Payment which includes a sufficient am�unt to pay any late charge due,the paym�nt may b�applied to the delinquent payment and�he late charge. If more tha�one Periodic payment is�utsta.nding,Lender may apply any payment received from Borrow�r to the repaym�nt of the Periodic Paymen�s if,and to the�xten.t�hat,each payment can be paid in fu11.To the extent that any�xcess exists a�er the payment is appl��d to the fu�l paymen�of one or mare Periodic Paymen.ts, such excess may be applied to any late charges due.Voluntary prepayments sha11 be ap�lied first to any prepayment charges and the�as described in the l�Iote. Any application af payments, insurance proc�eds,ar Miscellaneous Proceeds to principal due under the Note sha11 not extend or postpo�.e the due date,�r change the amount,of the Period�c Payments. 3. �undsfor Escrv�v Items.Borrower shall pay to Lender on the day Periodic Payments are due under the l�ote,unt��the Note is paid in ful�,a sum�the "Funds"�to provide f�r payment of amounts due for: (a}�axes and assessments and other items wh�ch can at�ain priorit��v�r t�.is Security Instrument as a lien or encumbrance on�he Praperty; (b}leasehold payments ar ground rents on the Praperty, if any; �c}premiums for any and a11�asuraace required by Lender under Section S;and(d}Martgage Insu.rance pr�miums, if an�, or any sums payable by Borro�uer to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 1 D.These item�are ca�led"Escr�w Items."At origination or at any time du�ring the term c�f the Loan,Lend�r may require that Community Association Dues, Fees,and Assessments, if any,be es�rowed by Borrower,and such dues, fees and assessments sha11 be an Escro�v Item. $orrower sha11 promptly furnish to Lender a11 not�ces af amounts to be paid under this Section. Borrower shal�pay Lender the Fu�xds for Escrvw Items unless Lender v�ai�es Borrower's obtigation to pa� the Funds for an�or all Escrow Items. Lender may�vaive Borrower's Qbligat�on to pay�o Lender Funds for any ar a11 Escrow Items a�any time.Any such waiver may anly be in writing. In the event of such wa�ver, �orrourer sha��pay directly,when and�vhere payable,the amounts due far any Escrvw Item�far which payrnent of Funds has been waived by Lend�r and, if Lender requires,sha11 furnish tv L�nder reGeipts evidencing such payment�t�vithin�uch time period as Lender may re�uue. Borrower's ab�igation to make such pa�m�nts and to�ro�ide receipts sh.a.1�for a11 purposes be deemed to be a cavenant an.d agr�en�e�t contained in this Security Instrument,as the phrase "covenant and agreement" i�used in Section 9.If Borro�er is obligated to pay Escrow�tems direct�y,pursuant to a waiver,and�orrower fails to pay the _ amount due for an Escrow Item,i�ender may exercis�its rights un�er Se�tion 9 and pay such amount and �orro�ver sha11 then be ob�igated under Section 9 ta repay�o Lender any such amount. Lender may revake the wai��r as to a�y or a��Escrow Items at any time by a notice given in accordance with Sectian 1 S and, upon suc}�revaca�ion,Borrower sha11 pay to Lender all Funds,and in such amaunts,that are then required under this Sectian 3. �en�er may,at any t�rr�e,collect and hold Funds in an amount�a}suffici�nt to pe�it Lender to app�y t�e Funds at the time specified under RESPA,and�b}not to exceed the maximum amount a lender can require under RE�PA.Lender shal�estrmate the amount of Funds due on the basis of current data and reasonable estimates o�expenditures of future�scrow Iterns or o�herwise in accor�ance wi�t�Applical�Ie Law. NEBRASKASingie Fami�y-Fannie MaelFreddie Mac IJNIFQ�M INSTRUMENT VIIiTH MERS Form 3428 1141 VMP� VMP�AtNE}�934�}.U4 Walters Kluwer Financial Services P�9��ot�� . q43356Zz4179 U233 43l ❑517