200206134 - Laserfiche WebLink

Browse

200206134 THIS SECURITY INSTRUMENT combines uniform covenants for national use and non- uniform covenants with limited variations by jurisdiction to constitute a undone security instrument covering real properly. 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 debt evidenced by the Note and any prepayment charges and late charges due under die Note. Borrower shall also pay funds for Escrow Items pursuant in 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 Now or this Security Instrument is returned m Lender unpaid, Lender may require that any or all subsequent payments due under the Now 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 cashier's check, provided any such check is drawn upon an institution whose deposits arc insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds'ltansfer. Payments arc 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 return any payment or partial payment if the payment or partial payments arc 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 W refuse such payment or partial payments in die future, but Lender is not obligated in apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, 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 ume, 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 or in die 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 Ric 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 in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts duc undo this Security Instrument, and then to reduce die principal balance of the Now. if Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge duc, die payment may he applied to the delinquent payment and die late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower in the repayment of the Periodic Payments d, and in the extent that, each payment can be paid in full. '1'o 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 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, 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 (dhe 'Funds ") to provide for payment of mnonnts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by lender under Section 5; and (d) Mortgage Insurance DOC #v317604 tlPPL 1f'. 001611b a14 LOAN IX:nU 16113 tl94 Inlhial (W-6(NE) (0005) 1". a of i 5 Form 3028 1/01 9