200205776 - Laserfiche WebLink

Browse

200205776 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. Burorwer 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 debt evidenced by the Now 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 Now 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 Lender unpaid, Lender may require that any or all subso luent payments due under the Note and this Secunty Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order, (e) 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 Now or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may retain 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 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 Periodic Payment is applied as of its scheduled due dale, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring die Loan current. If Borrower does not do so within a reasonable period of lime, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Now immediately prior to foreclosure. No offset or claim which Borrower might have now of in the future against Lender shall relieve Borrower front making payment, 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 Otis 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 shall be applied to each Periodic Payment in the order to which it became due. Any remaining amount, shall be applied first in late charges, second many other amount, due under this Security Instrument, and then to reduce the principal balance of die Note. It Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount in pay any laic charge due, the payment may be applied to the delinquent payment and the late, charge. If more than one Periodic Payment is outclariding, Lender may apply any payment received Gran Borrower to the repayment of the Periodic Payments if, and to die extent that, each payment can be paid in full. To the extent that any excess exist, after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied in any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in die Note. Any application of payment,, insurance proceeds, or Miscellaneous Proceeds lo principal due under the Not, shall not extend or postpone the due dau;, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the' Funds ") to provide for payment of amount, due for. (a) faxes and assessments and other items which can attain priority over this Security Instrument as a lion or encumbrance on tho Property; (b) leasehold payments or ground rents on th, Property, if any; (c) premiums for any and all insurance raptiral by Lender under Section 5; and (d) Mortgage insurance 10c 4.I _i4 APVL y- 07]16165355 OZ,N µ rlbib5355 (Q- 6G(NE)moosi �aaen of ,s � �� IOU Form 3028 1101