|
241Q48931
<br />'1"HIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
<br />limited variations by jurisdiction to constitute a uniform security instrument covering real property.
<br />UNIFORM COVENANTS. Borrawer and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall
<br />pay when due the principal of, and intez'est on, the debt evidenced by the Note and any prepayment charges and late
<br />charges due under the Note. Borrower shall also pay funds far Escrow Iterns pursuant to Section 3. Payments due
<br />under tha Note and this Security Instrument shall be rnade in U.S. currency. However, if any check or ather
<br />instrument received by I.ender as payment under the Note or this Security Instzvcnent is returned to I,ender unpaid,
<br />Lender cnay require that any or all subsequent payrnents due under the Note and this Security lnstrument be made in
<br />one or mare of the following fortns, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check,
<br />treasurer's check or cashier's check, provided any such check is drawn upon an institutian whose deposits are insurerl
<br />by a federal agency, instrurnentality, or entity; or (d) Electronic Funds T'ransfer.
<br />Payrnents are deemed received by I..ender when received at the location designated in the Note or at such other
<br />location as may be designated by Lender in accordazice with the notice provisions in Section 15. Lender may return
<br />any paym�nt or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender
<br />may accept any payment or partial payment insufficient to bring the J_,oan current, without waiver of any rights
<br />hereunder or prejudice to its rights to refuse such payment or partial paynnents in the future, but Lender is not
<br />obligated to apply such payments at the tirne such payments are accepted. If each Periodic Payment is applied as of
<br />its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds
<br />until Borrower makes payrnent to bring the Loan current. If Borrower does not do sa within a reasonable period of
<br />time, Lender shall either apply such funds or return thenn to Borrower. If not applied earlier, such funds will be
<br />applied ta the outstanding principal balance under the Note imrnediately prior to foreclosure. No offset or claim
<br />which Borrower might have naw or in the future against L,ender sha11 relieve Borrower from making payrnents due
<br />under the Note and this 5ecurity Instrument or per�'ornvng the covenants and agreements secured by this Security
<br />Instrument.
<br />2. Application of Payments or Paroceeds. Except as otherwise described in Chis Section 2, all payments
<br />accepted and applied by Lender shall be applied in the following order of priarity: (a) interest due under the Note;
<br />(b) principal due under the Note; (c) amounts due under Section 3, Such payments shall be applied to each Periodic
<br />Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second
<br />to any other amounts due under this 5ecurity Instrument, and then to reduce the principal balance of the Note.
<br />If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a suf�cienC
<br />amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If
<br />more than one Periodic Paynnent is outstanding, Lender may apply any payment received from Borrower to the
<br />repayrnent of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that
<br />any excess exists after the payment is applied to the full payment of one or more P�riodic Payments, such excess rnay
<br />be applied to any late charges due. Voluntary prepayments sha11 be applied first to any prepayment charges and then
<br />as described in the Note.
<br />Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note
<br />shall not extend ar postpone the due date, or change the amount, of the Periodic Payments.
<br />3. �nds for Escrow Iterns. Borrower shall pay to Lender on the day Periodic Payments are due under the
<br />Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and
<br />assessments and other items which can attain priority aver this 5ecurity Instrument as a lien or encuanbrance on the
<br />Praperty; (b) leasehnld payments or ground rents on the Property, if any; (c) premiums for any and all insurance
<br />required by Lender under Section S; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower
<br />to Lender in lieu of the payment of Mortgage lnsurance premiums in accordance with the ptovisions of Section 10.
<br />These items are called "�scrvw Items. " At originatian or at any time during the terrn qf the L,aan, Lender may require
<br />that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and
<br />assessments shall be an Escrow Item. Borrower shall promptly furnish ta Lender all notices of amounts to be paid
<br />under this Section. Borrower shall pay L.ender the Funds for Escrow It�ms unless Lender waives Borrower's
<br />obligation to pay the Funds for any oz' all Escrow Items. L.ender may waive Borrower's obligation to pay to Lender
<br />Funds for any or all �scrow Items at any time. Any such waiver may only be in writing. In the event of such waiver,
<br />Bozx'ower shall pay directly, when and where payable, the amounts due for any Escrow Items far which payment of
<br />Funds has been waived by L.ender and, if Lender requires, shall furnish to Lender receipts evidencing such payment
<br />within such time period as I,ender may require. Borrower's obligation to make such payments and to provide receipts
<br />shall for all purposes be deezned to be a covenant and agreement contained in this Security Instrument, as the phrase
<br />"covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to
<br />a waiver, and Borrower fails to pay the amount due for an Escrow itern, Lender may exercise its rights under Section
<br />9 and pay such aznount and Borrawer shall then be obligated under Section 9 to repay to Lender any such amount.
<br />Lender may revoke the waiver as to any or al! Escrow Items at any tirne by a notice given in accordance with Section
<br />15 and, upan such revocation, �orrower shall pay to Lender all Funds, and in such amounts, ihat are then required
<br />under this Section 3.
<br />L,ender may, at any time, collect and hold Funds in an amount (a) sufficient Co permit L.ender to apply the Funds
<br />at the time specified under RESPA, and (b) not ro exceed the maximurn amount a lender can require und�r RESPA.
<br />Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures
<br />of future Escrow Ite�ns ar otherwise in accordance with Applicable Law.
<br />._._� ��`� -
<br />NEBFIASKA--Single Family--Fannia Mae/Freddie Mac UNIFpRM INSTRUMENT - MERS DocMagic � eoo-s4s-r3ez
<br />Form 3028 1/01 Page 3 of 1 1 www.docmegic.com
<br />Ne3028.ctu.d.rcml
<br />
|