200209033 - Laserfiche WebLink

Browse

200209033 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 m the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the fullpayment ofone or more Periodic Payments, such excess may be applied m any late charges due. Voluntary prepayments shall) be applied first to any prepayment charges and then as described in the Nose. Any application ofpayments, insurance pproceeds, or Miscellaneous Proceeds to principal due under the Note shall not cxtrnd or postpone the due date, or change the amount, of the Periodic Payments. until the Not other items 'v and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender In lien of the payed Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Payment of Funs has been waived by lender and, it Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and in provide receipts shall for all purposes be deemed in be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant m a waiver, and Borrower fads in pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shal I then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as in any or all Escrow Items at any time by a nonce given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) so icient to permit Lender w apply the Funs at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis ofcnrrent data and reasonable estimates ofexpenditures offum a Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an insulation whose deposits are so insured) or in my Federal liomeLoan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest nn the Funds and Applicable Law permits Under to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be ppaid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender Shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Umirt shall notify Borrower as required by RESPA, and Borrower shall paymLenderthe amount necessary m make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security instrument, Lender shallpromptlyremn mBorrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Pees, and Assessments, ifany. I the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long m Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien m, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory in Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender ma yy give Borrower a notice identi fpng the lien. Within l0 days of the date on which tint nonce is given, Borrower shall sa[isty the lien or take one or more off the actions set mrtn above in this Section 4. Lender may require Borrower In pay a one -time charge for a real estate tae verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and my other hazards including, but not limited to, earthquakes and floods, for which lender regtaresinsurance. This insurance shall be maintained in the mounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant m the preceding sentences can change during the term n the Iran. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one -time charge for flood zone determination, certification and tracking services; or (b) a one -time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably [night affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of my flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but right or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provirk, greater or lesser coverage from the date of disbursement and shall be payment. All insurance policies required b, with such interest, upon and renewals of such o NERRASKA-Singlc Family -- Fannie Ma✓Fr odic Mac UNIFORM INSTRUMENT 9754 CV (IM) (11981 rots shall bear interest at the Note rate from Lender to Burrower requesting shall be subject to fender's right to e Lender as mortgagee and/or as an Form 3028 1 /01 (Pave 3 of8 gages) GOID(M29bPo)