201008399 - Laserfiche WebLink

Browse

201008399 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 against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for nadonal use and nvn-uniforrn covenants with limited variations hy jurisdiction tn constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Tnterest, 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 parsuant to 5ection 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. Hawever, 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 dae under the Note and this Security Instrument be made in one or more af the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check ar 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. Payments are deemed received by Lender when received at the location designated in the Nate ar at such other lncation as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment ar partial payments if the payment or partial payments are insufficient to bring the Laan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejndice to its rights ta refuse such payment or partial payments in the future, buk Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied fpnds. Lender may hald such unapplied funds unti! Borrower makes payrnent to bring the Loan current. If Borrower does not do so within a reasonable periad of time, Lender shall either apply such fands or return them ta Borrower. If not applied earlier, such funds will he applied to the outstanding principal balance under the Note immediately prior ta foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Bnrrower from making payments due under the Note and this Security Tnstrurnent or performing the covenants and agreements secured by this Security 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 ander the Note; (b) principal due under the Note; (c) amounts due under 5ection 3. 5uch payments shall be applied to each Periodic Payment in the vrder in which it became due. Any remaining amounts shall be applied first to late charges, second to any other �.$�$�,� — Single Famlly -- Fsnnia MsdFraddie Mac UDRFORM INSTRUMBN[ Form 3028 1/ � �r C3CC - G3028-04 (09/Ol) (Page 4 of 19) Initials: �