200606769 - Laserfiche WebLink

Browse

200606769 BORROWER COVENANTS that Borrower is lawfully seised 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 any encumbrances of record. 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. 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 i.nterest on, the debt evidenced by the Note and any prepayment cbarges and late charges due under tbe Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and tbis Security Instrument shall be made in U.S. currency. However, if any cbeck or otber instrument received by Lender as payment under tbe Note or this Security Instrument is retumed to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and tbis Security Instrument be made in one or more of tbe following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's cbeck, provided any such cbeck 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 Note or at such other location as may be designated by Lender in accordance with tbe notice provisions in Section 15. Lender may return any payment or partial payment if tbe 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 rigbts to refuse sucb payment or partial payments in the future, but Lender is not obligated to apply such payments at tbe time sucb 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 the Loan current. If Borrower does not do so within a reasonable period of time, Lender sball either apply such funds or return tbem to Borrower. If not applied earlier, sucb funds will be applied to tbe outstanding principal balance under tbe Note immediately prior to foreclosure. No offset or claim which Borrower migbt have now or in the 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 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 sball 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 due under this Security Instrument, and then to reduce the principal balance of the Note. 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 to the extent that, each payment can be paid in full. To 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 tbe day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts 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) leasebold 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 premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At lOAN NUMBER: 7804161 Nebraska Deed of Trust-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT -THE COMPLIANCE SOURCE, lNC.- Page 4 of 13 www.oomPlianmouroc.coml~IIIIIIIIIII~IIIIIII~11 I11111111111111111111111111111111111111111 Initials:~ .2:" - - MERS Modified Fonn 3028 01/01 14301 NE 08/00 /CI200Q, The Compljancl:= Source, Inc.