200301126 - Laserfiche WebLink

Browse

200301126 If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received Corm Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment ofone or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, ofthe Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due order the Note, until the Note is paid in full, a sum (the `Funds ") to provide for payment ofamounts due fro: (a) taxes and assessments and other iterns which can attain priority over this Security Instrument as alien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, ifany; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, ifany, or any sums payable by Borrower to Lender in lieu ofthe paymentofMortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term ofthe Loan, Lender may require that Community Association Dues, Pees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices ofamountstobe paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any oral] Escrow Items. lender may waive Borrower's obligation to pay to Lender Funds for any oral] Escrow Items m anytime. Any such waiver may only be in writing. In the event ofsuch waive,, Borrower shall pay decoy, when and where payable, the amounts due for any Escrow Items for which payment uC Funds has been waives) y Lender and, if I ender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipLS shall for al I purposes he deemed to be a cevenant and agreement contained in this Security Instrument, as the phrase "covenant and a &reement" is used in Section 9. If Borrower is obliggated to pay Escrow Items directly, pursuant to a waiver, and Borrower furls to pay the amount due For an Escrow Item, Lender may exercise its rik his under Section 9 and pay such amount and Borrower shall [hen be obligated under Section 9 to repay to I ender any such amount. I ender may revoke the waiver as to any droll Escrow Items at any time bye notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such wnounts, that are then required under this Section 3. lender may, at any time, collect and hold funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the mnount of Funds due on the basis ofcurrent data and reasonable estimates ofexpenditures offunue Escrow Items or otherwise in acmrdmhce with Applicahle Ixw. flit Funds shall be held in an institution whose deposits are insured bye federal agency, instrumentality, or entity (includingunds to ifI the Eisen Itemsnnwhose depositsarepeinsured)emES Federal Home Lo an Bank. eBorUnder wer so apply the Funds to pay the Escrow Items al Inter than the time row Lieu c under RBSPA. Under shall net charge Borrower for holding and applying rest the Funds, annually analyzing Lathe escrow account, m verifying charge. Escrow Items, unless Lender pays Borrower interest on the funds and Applicable Law permits Lender s, make such a charge. Unless an agreement is mode to writing or Applicable Law requires interest tube paid on the Funds, Izndcr shall not be required to gay Borrower anv Funds. Undeearnings hali a oBorr w Burrower and gLender it annual al accounting writing however, that interest by shall REepaid on the Funds. Lender shall sure to Borrower, without charge, an annual accounting ofthc Funds as required to RESPA. If thine is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account e Borrower for the excess funds in accordance with RESPA. PA, and a shortage hall Funds gay held in escrow, as defined under RESPA, Lender shall notify Borrower u required by RESPA, and Borrower shall gay to Lender the amount necessary to make el the shortage in accordance with RESPA, but in shall more than 12 month s equpayments. If there is a deficiency of Funds held in e escrow, as e defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall paym Lender the amount necessary to make up the deficiency in accordance with RESPA, but m n more than 12 monthly payments. Upon payment in full oral] sums scoured by this Security Instrument, Lender shall promptlyrcCund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all Taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, ifany, and Community Association Dues, Pees, and Assessments, ifany. '110 the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment ofthe obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement (b) contests the lien in good faith by, ur defends against enforcement ofthe lien m, legal proceedings which in finder's opinion operate to prevent the enforcement ofthe hen while those proceedings are pending, butonly until such proceedings areconcluded; or(c) secures from the holder ofthe lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument Iflender determinesmat anypart ofthe Property is subjectioa Tien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifymgthe lion. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more oPPthe actions set forth above in this Section 4. I trader only require Borrower to pay a one -time charge for a real estate tax verification and /or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term `extended coverage;' and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either. (a) a one -time charge for Flood zone determination, certification and Rucking services; or (b) a one -time charge for Flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Rnrrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review ofany Flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any ofthe coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents ofthe Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect Borrower acknowledges that the cost ofthe insurance coverage so obtained might significantly exceed the cost of insurance that Rnrrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debtofBorrower secured by this Security Instrument. These amounts shall bear interest at Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Izndcr to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortggage clause, and shall name Lender as mortgagee and /or as an additional loss payee. Lender shall have the right to hold thepnbciesandrenewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts ofpaid premiums and renewal notices. If Borrower obtains any form of insurance NEBRASKA— Sinele Family— Fnnnle Mae /Freddie Mm GVIFOR0I INSTRUMENT Fnrm3038 1 /01 ( pnyu3 f8pngvs) 99941 V I1 /02) 1643721 coro(oomrahz)