201702342 - Laserfiche WebLink

Browse

2� 17�2342 �. Appli�ationof Payments or Proceeds.Except as oth�r�vise described in�his Section 2, aI1 paym�nts acc�pted and applied�y Lender s�.all be applied in the fol�owing order of pri�rity; (a)interest due und�r the �T�t�;(b}principal due under�he Nate; (c}amflunts due under Section 3, Such payments shal�be applied to each Periodic Pa}rment in the arder in which it became due.Any remaining amounts sha1l be applied first ta late charges, second to any other amaunts due under this Se�urity Instrument,and tben ta redu�e the prineipal baiance of the Not�, If Lender rece�ves a payment fram Borrower far a delinquent Periadic Payment which includes a suffic�ent amaunt to pay any late charge du�,the payment may�e app�ied to the de�inquent payment and the late charge. If mare than ane Periadi�Payment�s outstanding,Lender may apply any payment recei�ed from B�rrower to the repaym�nt of the Periodic Payments if,and to the extent that, �ach paym��nt can be paid in fu�l, To the extent�hat any excess exists after the payment is appl�ed ta the fuil payment of one ar more i'eri�dic Payments, �uch excess may be app�ied t�any late charges due,Voluntary�repaymen�s shall be applied f�rst to any prep�yment charges and then as described in the Nate. Any app�icat�on af paymentsA insurance proceeds,or Miscel�aneous Proceeds ta principa�due und�r the l�l�ot� shai�not extend or pastpone the due date,or change the amQunt,of the P�riodic Payments. �. Fundsfor Escrow Items.Borrower shall pay to Lender on the day Periodic Payments are due und�r the Note,until the Not�is paid in full, a sum(the "Funds"�t�provide for payment df amoun�s due far; �a�taxes and assessments and other items which can attain priority o�er th�s�ecurity Instrument as�Iien.or encumbrance on the pra�erty; �b�leasehold payments or ground rents ot�the�'roperty, if any;�c}prerniums fQr aay and al�insurance required by Lender under Section 5;and(d)Mortgage Insuranc�premiums, �f any, ai any sums payable by F3orrower to Lender in lieu of the payment of Mortgage Insurance premiums in acc�rdance with the pro�isions of Section ��, These items are called"Escraw 7tems."At originatian or at any�ime during the term of�he Loan,Lender may requ�.re that Comrriunity 1�ssaciat�on Duea,Fee�,and Assessments, if any,be escrowed by Borrower,and such dues,fees and assessments sha��be an Escr�� Item.Borrawer shall prornptly furnish to Lender alI nvti�es of amaunts to be paid under this Secti�n. Borrower shal�pay Lender the Funds for Escr�w Items unless Lender wai�es Bflrrower's obligation to pay the Funds for any�r al�Escrow 7��ms. L�nde�may w�tv�Barrawer'�a�ligati�n ta pay t�Lender Fu�ads far any or a�1 Escrow Items at any time.Any such�vai�er may only be�n w�riting, In the event of such waiver, Borrower shal�pay d�rectly,when and where payable,the amounts due far any Escrow Items f�r t�vhich payment af Funds has been wai�ed by Lender and, if Lender requires,sha11 furnish to Lender receipts evidencing such payment tivithin suc�time period as Lender may require. Borrower's obliga�tion to make such payments and�a provide receipts shall far a�l purposes be deemed to be a cavenant and agreement contained in this Security Instrum�nt,as t�e phrase "covenant and agreement" is used in Secti�n 9.If Barrotiuer is ob�iga�ed ta pay Escrow Items directly,pursuant t�a waiver,and BQrr�wer fails to pay tk�e amount due for an Escrow Item,Lender may exercise its rights under Section 9 and pay such amaunt and Borrower sha�l then be obiiga�ed under 5e�tion 9 t�repay to Lender any sueh amount. L�nder may re�oke the wai�er as�o any or all Escrow Items at any time by a notice given in accordance w�th Sect�on 15 an�, upon such revocation,Borrawer shall pay to Lender all Funds,and in such am�unts,that are th�n requir�d under this Section 3. Lender m��, at any tim�,ca�l��t and hald Funcis in an an�aunt ta}sufficient to pern�it Lender to apply the Funds at the time specified under RESPA,and�b}not to exceed the maximum amount a lender can require ur�der RESP�.Lex�der s�iat�es�imate the arnount of Funds due vn t�i�basis of cunent�ata�and reasanabl� estimates of expend�tures of future Escr�w Items or otherwise in accordance with Applicable Law, NEBRASKA-Sing#e Family-Fannle MaelFr�sddie Mac UNIFORM 1N5TRUMENT WITH MEF�S Form 3a28 1f�9 VMP� VMPBA�NE)�1302}.0� Wolters Kluvv�r Financial S ervices Page�of 17 q43374 168a �z3 37f Q517