200901255 - Laserfiche WebLink

Browse

200901255' 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, provided 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 Lender 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 J5. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan cwrent, without waiver of any rights hereunder or prejudice to its rights to refuse such payrrient 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, then Lender need oot 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 shaU either apply such funds or return them. to Borrower. If not applied earlier, such funds will be applied to the outstanding 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 Borrower from making payments due under the Note and this Security Instnnnent Or performing the covenants and agreements secured by this Security Instrument 2. Application of Payments or Proeeeds. Except 8$ 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) pril'lcipaJ due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied fll'St to late charges, second to any other amounts due under this Security lDstrument, 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 clwge. 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 fWl. 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 !are charges due. Vobmtary prepayments sball be applied first to any prepayment clwges and then as desaibed 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, oftbe Periodic Payments. 3. Funds for Eserow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Notr;, 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 Inslrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property. if any; (c) premiums for any and all insurance required by Lender under Section S; 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. Tbese items are called <<Escrow Items." At originaJion or at any time during the term of me Loan. Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Bonower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shaU pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shaII fumish to Lender receipts evidencing such p,.yment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all pwposes be deemed to 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 to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Neill". Deed of1hlsf-Sln:Je Family-FlUIlIie MaeIFnddle Mac: Ullif'orm IlUCnnaeat Fo.... 3028 1 MERS Modified 'tbe Compl"'cc Sollrce, lac. Page .. of 14 Modified by ColllpliaDce SeBree 14301NI 08Ie0 Rev. 04108 ---~ mooo. TheCOlllpliaee SGllree.,Iae. 11111111111111111111111111111111111111111111111111 mil II 1 III 1111 1111111111111111 1111111111111111111111111. * + 0 234 909 364 + 0 0 A D + 4 + 1 4 *