201006331 - Laserfiche WebLink

Browse

201006331 TRANSFER OF RIGHTS IN THE PROPERTY 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 Securiry Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, is trust, with power of sale, the following described property located in the ............................................. .......CaUraty........................................................... of [Type of Recording Jurisdiction] Hall ......................... ............... ....................................., (Name of Recording Jurisdiction) Lot Twentyeight 128- Western Heights Fourth Subdivision, City of Grand Island, Hall County, Nebraska. which currently has the address of ..........................................1,3A4,~rantling,lrgq,l.one............................................ [Street] .......................... Grand Islall~..........................., Nebraska ...................G8$0~.................... („Property Address"): (city] IZip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoingts referred to is this Security Instrument as the "Property." 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 agatnst 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 cpnstitute 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 to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or othertnstrument 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 b~ Lender: (a) cash; (b) money tirdef; (c) certified check, bank check, treasurer's check or cashier's check, provided any surc check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic F'uads Transfer. Payments are deemed received by Leader 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 provisionstn Section 15. Lender may return any payment or partial paymenttf the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insuffraent to brtng the Loan current, without waiver of any rights hereunder or prejudice to its rtghts to refuse such payment or partial payments in the future, but Lender is not obligated to apply such paymeats at the time such payments are accepted. If each Pertodtc Payment is ap lied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplted fun 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 sow or to 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 Secur>ty 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 Nate; (c) amounts due under Section 3. Such ~ayrnents 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 Securiry 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 deliaqueat 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 extead or postpone the due date, or change the amount, of the Periodic Payments. 3. Fends Ior Escrow Items. Borrower shall pay to Lender on the 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 assessmeats and other items which can attain priority over this Security Instrument as a lien ar encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insuraace required by Lender uader Section 5; and (d) Mortgage Insurance premiums, tf any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provtstons of Section lp. These items are called "Escrow Items." At origittatioa or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed b)+ Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all uotlces of amounts to be paid under this Section. Borrower shall ppay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for say or all Escrow trams. Lender may waive Borrower's obligation to day to Lender Funds for and or all Escrow Items at any time. Any such waiver may only be in writiag. In the event of such waiver, Borrower shall pay dtrectly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has bees waived by Lender and, if Lender requires, shall furnish to Lender recetpts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provtde receipts shall for all purposes 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 NEBRASKA-Single Family-Fanrpa Mss/Freddie Mac UNIFORM INSTRUMENT Form 302 /o, Bankers Systems, Inc., St. Cloud, MN Farm MD-1-NE el17/200D (page 2 of 7prxges)