201005092 - Laserfiche WebLink

Browse

20005092 TRANSFER OF RIGHTS IN THE FROFERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) 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 fallowing described property located in the .........................................................GOUNTY....................................... , .............. , . , , of IType of Recording Jurisdiction) N.A44 ........................................................................................ [Name of Recording Jurisdiction) LOTS ONE (1) ANp THREE i3-, BLOCK THIRTY (30-, HIGHLAND PARK ADDITION TO THE CITY OF GRAND 15LAND, HALL COUNTV, NEBRASKA. which currently has the address of ............................................2105 W,WAUGH STREET............................................. . IStreetl ..........................GRAND ISLAND..........................., Nebraska ...................5$$03..................... („Property Address"): ICityl IZip Codel TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures IIOW Or hereafter a part 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 seised of the estate hereby conveyed and has the right t.o 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 SECiJRITY 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 interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant w Section 3. Fayrnents due under the Note and this Security Instrument shall be 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 to 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, 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. Fayrnents 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 15. Lender may return any payment or partial paymeut 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 current., without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the tune such payments are accepted. If each Periodic Payment is applied as of its scheduled due dale, then Lender need not pay interest ou 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 shall 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 Instrument or performing the covenants and agreements secured by this Security [nstrument. 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 shall 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 far 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 paymeut 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 oP payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due dale, or change the amount, of the Periodic Payments. 3. Funds far Escrow Items. Borrower shall pay to Lender on the day Periodic Fayrnents 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) leasehold payments or ground rents on the Property, if any; (c) premiums far 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 iu accordance with the provisions of Section 10. These items are called "Escrow Items." At origirtation or at any lime during the term of the 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. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow hems unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to day 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 paymeut of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such paymen[ within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed t.o 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 NEBRASKA-Single Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT ~~/~ 80 8 01 Bankers Systems, Inc., St, Cloud, MN Form MD-1-NE 8/17!2000 , (Page 2 of ~ PaR