|
2oooo9ss9
<br />09066819
<br />limited variations by jurisdiction to constitute a uniform security instrument covering real property.
<br />UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay
<br />when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due
<br />under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this
<br />Security Instrument shall be made in 1.1.5. currency. However, if any check or other instrument received by Lender as payment
<br />under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent
<br />payments due under the Nate and this Security Instrument be made in one or more of the following forms, as selected by
<br />Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such
<br />check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic
<br />Funds Transfer.
<br />Payments are deemed received by Lender when received. at the location designated in the Note or at such other
<br />location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any
<br />payment or partial payment if the payment or partial payments are insufficient to bring the Loan current, Lender may accept
<br />any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to
<br />its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the
<br />time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay
<br />interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If
<br />Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If
<br />not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to
<br />foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from
<br />making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this
<br />Security Instrument.
<br />z. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and
<br />applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the
<br />Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it
<br />became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security
<br />Instrument, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufEcient amount to
<br />pay any late charge due, the payment may be applied to the delinquent payment and. the late charge. If more than one Periodic
<br />Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if,
<br />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
<br />full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments
<br />shall be applied first to any prepayment charges and then as described in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not
<br />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 are due under the Note, until
<br />the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other
<br />iteixis which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments
<br />or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d)
<br />Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
<br />Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or
<br />at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any,
<br />be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to
<br />Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless
<br />Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to
<br />pay to Lander Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such.
<br />waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of
<br />Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within
<br />such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all
<br />NEBRASKA-Single Family-Fannie Mae/Freddie Mac UNIFdRM INSTRUMENT
<br />338.2 Page 3 of ] 1 Form 3028 I/OI
<br />
|