201007386 - Laserfiche WebLink

Browse

�O10U738G THIS SECURITY INSTRUM�NT cambines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real praperty. UNIFORM COVENANTS. Bonower and Lender covenant and agree as follows: 1. Payment of Prfincipal, Interest, Escrow Items, Prepaymeat Charges, and Late Charges. Borrawer 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 Tnstrument shall be made in U.S. currency. However, if any check or other instnunent received by Lender as payment under the Note ar this Security Instrument is returned to Lender unpaid, Lender may require that any ar all subsequent payments due under the Note and this Security Instnunent be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified ch�ck, 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, pr 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 rnay be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payrnent or partial payrnent if the payment or partial payments are insufficient ta bring the Loan current. Lender may accept any payrnent or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payrnent or partial payrnents in the future, but Lender is not obligated to apply suc.� payments at the time such payments aze accepted. If each Periodic Fayment is applied as of its sch�uled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Bonower makes payments to bring the Loan current. If Borrower does not do so within a reasonable period of time, L.ender shall either apply such funds or return them to Borrower. If not applied eaarlier, such funds will be applied to the outstanding principal balance under the Note imrnediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrowsr fram making payments due under the Note and this Seeurity Instrument or performing the covenants and agreements secured by this Security Instnunent. 2. Application of Payments or Proceeds. Except as otherwise descr�bed 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) arnounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining a�xwunts 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 for a delinque:nt Periadic 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 Periadic Payment is outstanding, Lender rnay apply any payment received from Borrower to the repayment af the Periodic Payments if, and to the extent that, each payment can be paid in full. Ta the extent that any excess exists after the payrnent 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 ta any prepayment charges and then as describerl in the Note. Any applicatian of payments, insurance praceeds, or Miscellaneaus Procceds to principal due under the Note shall not extend or postpone the due date, or change the arnount, of the Periodic Payments. 3. Ftinds for Escrow Items. $orrower shall pay to I.ender on the day Periodic Paytnents are due under the Note, until the Nate is paid in full, a sum (the "Funds") ta provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrurnent as a lien or encuixa.brance on the Property; (b) leasehold payments or ground rents an the Property, if any; (c) premiutns for any and all insurance required by I.ender under Section 5; and (d) Mortgage Insurance NEBRASKA - Single �amily - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT �-61NEIloe�il Page4ott5 iniciais: Form302$ 7/09 ,. � Qti `` �, , , �' ��