200206958 - Laserfiche WebLink

Browse

200206958 THIS SECURITY INSTRUMLNT combines uniform covenants fur national use and non - uniform covenants with limited variations by Introduction to constitute n uniform security instrument covering real property . UNIFORM COVENANTS, Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Intended, Fission Items, Repayment Charges, and Lath Changes. Burrower shall pay Moen due Ne principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Bscrow terns pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. Ilowever, if any check or other instrument received by Lender as payment tinder the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any ar all subsequent payments due under the Nom and this Security Instrument be made in one or more of the following forms, :u selected by Lender: (a) cash: (b) money order; (e) certified check bank cheek, treasurer's check or cashier's check, provided any such check is drawn upon on institution whose deposits are Insured by u federal agency, instamentality, or amity; or (d) Lledrvnie Funds Transfer. Payments are deemed received by -mI when received at the location designated in the Note ur at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may relum any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender unity accept any payment or partial payment insufficient to bring the Loan enrrent, without w of any rights hereunder or prejudice m its rights to Tcfusc ardh 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 date, than Leader need not pay interest on unapplied funds. Lender may hold such unapplied funds unlit Borrower makes payments to bring the Lan current. If Borrower does not do so within a reasonable period of lime, Trader shall either apply such funds or return them to Borrower. If not applied earlier, such fuvds will be applied to the outurm l ing 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 Rorrowcr tom making payments due under the Note and this Surathy Instrument or performing the covenants and agracmems secured by this Security instrument. 2. Application of Payments or Proceeds. Pxccpt 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; (h) principal due coder the Note; (c) amounts due tinder Section 3. Such payments shall be applied to cads Periodic Payment in the order in which it became due. Any remaining amounts shall be applied Gat m lam charges, second to any ether amounts due under this Security Instrument, and then in reduce the principal balance of the Note. If Tender receives a payment [mm Borrower for a delinquent Pedodie Payment which includes a sufficient amount to guy any late charge due, the payment tiny 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 Borrmvhr to the repayment of out Periodic Payments if, and to the extent that, each payment can be paid in foil. 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 to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Nom. Any application of payments, insurance preceets, 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 fur Borrow Items. Borrower shall pay to Lender on the day Periodic Payments Ale due under the Nom, until the Note Is paid in full, a sum (the "ILads') to provide for payment of amounts due for (a) taxes and assessments and other items which can attain priority o m this Security Instrument as a lien or encumbrance on the Property: C) leasehold payments or ground rents on the Property, if any: (u) Premiums lot any and all insurance required by Lender under Section 5, and (d) Mortgage Insurance I EINE) wcnzim So.4 1' � Form 3028 1101 d I i I I I I I 1 10