202006526 - Laserfiche WebLink

Browse

20200652G UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, and Late Charges. Borrower shall pay when dile the principal of, and interest on, the debt evidenced by the Note and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or o her instrument received by Lender as payment under the Note or this Security Instrument is r turned to Lender unpaid, Lender may require that any or all subsequent payments due under the Mote and this Security Instrument be made in one or more of the following forms, as selected by L nder: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's c eck, provided any such check is drawn upon an institution whose deposits are insured by a f deral agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 14. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its ri hts to refuse such payment or partial payments in the future, but Lender is not obligated to apply s ch payments at the time such payments are accepted. If each Periodic Payment is applied as of its s heduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such u applied funds until Borrower makes payment to bring the Loan current. If Borrower does not do s within a reasonable period of time, Lender shall either apply such funds or return them to B rrower. If not applied earlier, such funds will be applied to the outstanding principal balance u der the Note immediately prior to foreclosure. No offset or claim which Borrower might have n w or in the future against Lender shall relieve Borrower from making payments due under the N to and this Security Instrument or performing the covenants and agreements secured by this S curity Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all p yments accepted and applied by Lender shall be applied in the following order of priority: First, to the Mortgage Insurance premiums to be paid by Lender to the Secretary or the monthly c arge by the Secretary instead of the monthly mortgage insurance premiums; Second, to any taxes, special assessments, leasehold payments or ground rents, and fire, flood a d other hazard insurance premiums, as required; Third, to interest due under the Note; Fourth, to amortization of the principal of the Note; and, Fifth, to late charges due under the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due u der the Note shall not extend or postpone the due date, or change the amount of the Periodic P yments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are d e under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of a ounts due for: (a) taxes and assessments and other items which can attain priority over this S curity Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground re is on the Property, if any; (c) premiums for any and all insurance required by Lender under S tion 5; and (d) Mortgage Insurance premiums to be paid by Lender to the Secretary or the m nthly charge by the Secretary instead of the monthly Mortgage Insurance premiums These items ar called "Escrow Items." At origination or at any time during the term of the Loan, Lender may re uire that Community Association Dues, Fees, and Assessments, if any, be escrowed by B rrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly fu nish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender NEBRASKA - Single Family - FHA SecurityInstrument - MERS FORM 3028 9/14 Initials: EG Laser Forms Inc. #FHA3028MERS 6/15 Page 4 of 14 ID IDuu