201007384 - Laserfiche WebLink

Browse

2oiou�3s4 451013759 that MERS hold only leg�l title to the interests granted by Borrower in this Security Instrument, but, if necessary to camply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: tn exercise any or a11 of those interests, including, but not limited to, the ri�ht to foreclose and sell the Property; and to cake any action required of Lender including, but not limited to, r�leasin� and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to �rant and convey the Property �nd that the Property is unencumbered, except for encumbrances of record. Borrawer warrants and will defend generally the title to the Praperty against all claims and demands, subject to any encumhrances of record. TH15 SECURITY INSTRUMENT combines uniform covenants for national use and nan-uniform covenants with limited variations Uy jurisdiction to constitute a uniform security instrument covering r�al property. UNIFORM COV�NANTS. Borrower and Lender cov�nant and agree as follows: 1. Payment of Principal, Intcrest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when dua the principal of, and interest on, the debt evidenced by th� Nate and any prepayment chargas and l�te 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. IIowever, if any check or other instnunent received by Lender as payment undar the Note or this Security Instruinent is returned to Lender unpaid, Lender may require that any or all subsequent payments due undsr the Note and this Security Instrument be made in one or more of the following forms, as selected by I.ender: (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, instrurnentality, or entiry; 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 15. Lender rnay return any payment ar partial payment if the payment or partial pay�nents are insufficienl to bring the Loan current. Lender may accept any payment or partial pay�nent insufficient to bring the Loan current, without waivcr af any rights hereunder or prejudice ro its rights to refuse such payment or partial payments in the fiiture, but I.end�r is not obligated to apply such payments at the time such payments are accepted. If �ach Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unappli�d funds until Rorrow�r 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 th�m to Borrower. If not appli�d earlier, such fitnds will be applied to the outstandin�; principal balane� under the Note immediately prior to foreclosure. Na offset or claim which 13orrower might have now or in the futur� against Lender shall relieve Borrower fro�n making payments due under the Not� and this Security Instrument or perforniing tha cov�nants and agreements sacured by this Security Instrument. 2. Application of Payments or Proceeds. Except as atherwise describ�d 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 Not�; (b) principal due under the Note; (c) arnounts due under Section 3. Such payments shall be applied ta each Periodic Payment in the order in which it became du�. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Se�urity instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Barrower for a delinquent Periodic Payment which includes a sufticient amount to pay any latt charge due, the payment may be applied to the delinqu�nt payment and the late charge. If rnore than one Periodic Payment is outstanding, I.ender rnay apply any payment receiv�d from Borrnwer to the repayment nf the Periodic Fayments if, and to the extent that, each payment can be paid in fiill. To the axtent that any excess exists after tha payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges du�. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneaus Proceeds to principal due under the Note shall not extend ar postpone the due date, or chan�e the amount, of the Pariodic Payments. 3. Funds for Fscrow 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 assessments and other items which c�n attain priority over this Security Instnunent as a lien or encumbrance on the Property; (b) leasehold pay�nents NEBRASKA--Single �amily--Fannie Mae/Freddie Mac UNIFURM INSTRUMEN'C �+ 338.2 Page 3 of 12 Form 3028 1/01 � I � -- ---J--