200204237 - Laserfiche WebLink

Browse

MAR.21.2002 12 :40PM 20020423'7 N0.078 P.26/72 UNiFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Rscraw items, Prepayment Charg6s, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and lgte charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments du under the Note and this Security Instrument shall pe made in U,S. currency. However, i any check or other instrument received by Lander as payment under the Note or this ecurity Instrument Is returned to Lender unpaid, Lender may require that any or all subs quent payments due under the Note and this Security instrument be made In one or more r f the following forms, as selected by lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check Is drawn upon �an institution whose deposits are Insured by a federal 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 15. Lender may return any payment or partial payment if the payment or partial payments are insuMclent to bring the Loan current, tender may accept any payment or partial payment insufficient to bring the Loan currant, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Perloft Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds, Lender may hold such unapplied funds untli Borrower makes payments to bring the Loan current. If Borrower does -not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the of tstanding principal balance under the Note immediately 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 performing 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 priority. (a) interest due under the. Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments phall 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 arnpunt 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 tl�e 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 of one or more Periodic Payments, such excess may be applied to any late chargep due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. 9NR04 Rev 11/DB /oD P1196 q of 18 Initlal3; FORM 3628 gJD1 s�