200213471 - Laserfiche WebLink

Browse

200213471 or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally ['elated mortgage loan" even if the Lan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Iznder: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Nate; and (it) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose. Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described property located in the County of Hall [Type of Recording lardi isction] [Name of Recording Jurisdiction) Lot Four (4), in Amended Block Six (6), Continental Gardens, an Addition to the City of Grand Island, Hall County, Nebraska. which currently has the address of 3120 W College [Street] Grand Island , Nebraska 68803 ( "Property Address "): Cityl [Zip Code] TOGETHER WITH all the improvements now or hereafter crommd on the property, and all easements, appurtenances, and fixtures now or hereafter apart of the property - All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property," BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to anyencumbrances of record. THIS SP.CI.IRITY INST[tUMENI combines uniform covenants for national use and non - uniform covenants, with limited variations byjurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Leader covenant and agree as fnl lows: 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 the Note. Borrower shall also pay hinds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall he 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 m Lender unpaid, Lender may require that any or all subsequent payments due under the Note 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, fa ovided 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 Under 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. Under may return any payment or partial payment if thc paymentur partial payments are insufficient to bring the Loan current. Lender mayaccept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejus iceto its rights to refuse such payment or partial payments in the future, but Lender is not obligated to applysuch payments at the time such payments are accepted- It each Periodic Payment is applied as of its scheduled due dam, then Under need not pay intereston unapp lied funds. Lender may holds uch unapp l ied funds until Borrower makes payment in 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 he applied to the outstanding principal balance under the Now immediately prior to foreclosure. No onset or claim which Borrower might have now or in the future against lender shall relieve Borrower fmm araking 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) principaldue underthe Note; (r) amounts due under Section3 Suchpayments shall be applied in each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to Inge charges, second to any other amounts due under this Security Lmtrument and then to reduce the principal balance ofthe Note. NEIMASKA- Single Family Fannie Mae/Freddte Mac UNIFORM INSTRUMENT Far. 3028 LOt (page 2 of 8pnger/ 9]54 CV (IM2) ILax" GOTOt.WmL+q