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<br />200802938 <br /> <br />nus SECURITY INSTRUMENT combines UDiform covenants for national use and 1\On-unifoI1Il <br />covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real <br /> <br />propertY . <br />UNIFORM COVENANTS. Borrower and Lender co"enant and agree as follows: <br />1. Paymeot of Principal, bterest, Escrow Items, Prepayment Cbarges, aad Late Charges. <br />Jlormwet shall pay when due the principal of, and. interest on, the debt. cvidonced by the Note and any <br />prepayment chargeli III1d late charges due under the Note. Borrower shall also pay funds for Escrow ItCIIlS <br />pIII1U8Dt to Section 3. Payments due under the Note and this Securti)' Instroment shall be made in U.S. <br />currency. However, if any check or other instrument received by Lender as payment under the Note or this <br />Security lnm:ument is returned to Lender unpaid, Lender may require that any or all subscquCIJt payments <br />due under the Note and this Security JnstnIment be made in one or mote of the following fomlS, as <br />selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer'S check or <br />cashier's check. pro"ided MY such check is drawn upon an institution whose deposits are insured by a <br />federal agency, instruIlltD.tality, or entity; or (d) Electronio Funds Transfer. <br />Payments are deemed received by Lender when reecived. at the location designated in the Note or at <br />such other location as may be designated by lender in accordance with the notice provisions in Section IS. <br />Lender may return any payment or partial payn1Cnt if the payment or partial paymems arc insufficient to <br />bring the Loan C\l1l'el1t. Lender may accept any payment or partial payment insufficient to bring the Loan <br />current, without waiver of my rights hereunder or prejudice to its riJhlS to refuse such payment or partial <br />payments in the future, but Lender is not obligated to apply such payments at the tiIne such payments arc <br />accepted. If each Period.ie Payment is applied as of its scheduled. due date, then Lemler need. not pay <br />interest on unapplied funds. Lender may hold such unapplied funds until aorrowet makes payments to <br />briDg the Loan CUITent. If Borrower does not do so within a reasonable period of time, Lender shall either <br />apply such funds or return them to Borrower. If not applied earlier, such. funds will be applied. to the <br />outstaI1dix1g principal balance under the Note immediately prior to foreclosure. No Offset or claim which <br />Borrower might have now or in the future against Lender shall relie"c Borrower from making payments <br />due under the Note and this Security InstIument or performing the covenanIS and. agreements secured by <br />this Security InstruUleDt. <br />Z. Application of Payments or Proceeds. Except IS otherwise described in this Section 2, all <br />payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest <br />due under the Note; (b) principid due under the Note; (c) amounts due under Section 3. Such payments <br />shall be applied to each Periodic Payment in the order in which it became due. A1J.y remaining amounts <br />shall be applied first to late charges, second to any other aD:1ounts due under this security Instrument, and <br />then to reduce the principal balance of the Note. <br />If Lender receives a payment from Borrower for a delinquent Periodio Payment which includes a <br />sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and <br />the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received <br />from Borrower to the repayn1Cnt of the Periodic :Payments if, and to the extent that, eaCh payment can be <br />paid. in full. To the extent that any excesS exists alter the payment is applied to the full payment of one or <br />more Periodic Payments, SlJ.ch excess may be applied to any late charges due. Voluntary prepayments shall <br />be applied fint to any prepayment charges and then as described in the Note. <br />Any applic$1ion of payments, insurance proceeds, or Miscellaneous Proceeds to principal due Ulldct <br />the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. <br />3. funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments arc due <br />under the Note, untU the Note is paid in full. a sum (the "Funds") to provide for payment of amounts due <br />for: (a) taxes and assessments and other items which can attain priority over this security Instrument as a <br />lien or encumbrance on the Propen:y; (b) leasehold. payments or ground rents on the Property. if any: (c) <br />premiums for any II1d all insurance required by Lender under Section 5; and (d) Mongage Insurance <br /> <br />0110290022 <br /> <br />Gll-S(NEl104071.01 <br /> <br />hoe 4 of 1Ii <br /> <br />Ini_'V r'/h/l <br />i- Q302. 110' <br />