200201229 - Laserfiche WebLink

Browse

TRANSFER OF RIGHTS IN THE PROPERTY 200201229 This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and moc Note; and (n) the performance of Borrower's covenants and agreements under this Security Instrument and the purpose, Borrower irrevocably grants and conveys to Trustee, In trust, with power of agle, the following described prc the COUNTY Of Hall NEBRASKA Lot 2, Colonial Estates Fourth Subdivision In the City of Grand Island, Hall County, Nebraska. which currently has the address of _ 3 0 2 3 N O R L E A N 5 0 R treat G a a x n T s A x n ,Nebraska sesB3 ('Property Address'): [City] [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the'Propeny.' BORROWER COVENANTS that Borrower is lawfully seised ofthe estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the tit le to the Property against all clams and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and Interest on, the tlebt evidencetl by the Note and any prepayment charges 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 other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lander unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order, (c) certified check, bank check, treasurer's check or cashiers check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or amity; or (d) Electronic Funds Transfer. Payments are tleemetl received by Lender when received at the location designated In the Note or at such other location as may be 'e"" a' by Lentler In accordance with the notice provisions In Section 15. Lander may return any payment or partial payment If the payment or partial payments are insuffician to bring the Loan current. Lander may accept any payment or partial payment Insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to Its rights to refuse such payment or partial payments in the future, but Lender la not obliggated to apply such payments M the time such payments are accepted. If each Periodic Payment is applied as of hs scheduled due tlate, than Lender nee pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes ppaymam to bring the Loan current. If Borrower does not do so within a reasonable P. riod of time, Lender shall either apply such Funtls or return them to Borrower. If not applied earlier, such funds will be applied to the outstantling principal balance untler the Note immetllat -ly prior to foreclosure. No offset or claim which Borrower might have now or In the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or P. rforming the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of pnorNy: (a) interest due under the Note; (b) principal due under the Note, (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order In which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. 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 from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can a paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied that to any prepayment charges and then as described in the (Vote. Any application of payments, insurance proceeds, or Miscollansous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the daly Periodic Payments are due under the Note, until the Note is paid in full, a sum (tha'Funds') to provide for payment of amounts due for: (a) taxes and assessments and other Items which can attain priority over this Security Inatrumem as a lien or encumbrance on the Property; (b) leasehold payments Or grountl rents on the Pmpelry, if any; (c) premiums b4, anY end ell insurance required by Lender under ecaon 6; and (tl) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance Premiums in accordance with the provisions of Section 10. These dame ere ealled'Escrow Items.' At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Feea, and Assessments, If any, be eacrowetl by Borrower, antl such dues, fees antl assessments shall be an Escrow hem. Borrower shat promptly furnish to Lender all notces of amounts to be paitl under this Section. Borrower shat pay Lender the Funds for Escrow Items unless Lantlerwalvee Borrowers obligation to pay the Funds for any or all Escrow Items. Lender may waive Bonowers obligation to pay to Lentler Funtls for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of ouch waver, Borrower shell pay directly, when antl where payable, the amounts, due for anyy Escrow Items for which payment of Funds has bean waved by Lender and, if Lentler requires, shall furnish to Lender receipts evltlenWng ouch payment within ouch time period ate Lender may require. Borrowers obligation to make such payments and to provitle receipts shall for all purposes be tleemetl to be a covenant and agreement contained in this Securhy Instrumertt, as the phrase covenant and agreemenC le treed In Sactlon S. If Borower la obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pa the amount tlue for an Escrow Item, Lentler may exercise hs nghta under Section 9 end pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow hems a[ any 5me by a notice given In axordart with Section 15 and, upon such revocation, Borrower shall pay to Lender mayy, at any time, collect and hold Funds In an amount (a) sufficient to permit Lender to apply the Funds at the time spoofed under RESPA, and ((b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funtls tlue on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law, NINWIG -alns. Family -Annie Mar/1—die Mao eNIMW MaTRUMOW FORM 1034, 01/01(p.00001 f p0pn) 3021 NC DOT 01/01 Pot