201008945 - Laserfiche WebLink

Browse

201008945 1078�843 with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of thoae interests, including, but nat lirnited ta, the right to foreclose and sell the Property; and to te�ce any action required of Lender including, but not limited tn, relcasing and canceling this Security Instrument. BORROW�R 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 recard. Borrower warrants and wi11 defend generally the title to the Praperty against all claims and demands, subject to any encumbrances of record. THIS 9ECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variatiuns by jurisdiction to cnnstitute a uniform seourity instrument covering real prnperty. UIVIFORM COVENANTS. Borrower and Lcnder covenarnt and agree as follows: 1. Payraent of Principal, Iuterest, Escrow Items, Prepayment Chargeffi, and I.ate Chargea. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment char$es and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant tn Section 3. Payments due under ths Note and this Security instrument shall be mad� in U.S. currency. However, if any check or other instrument received by Lender as payment undcr the Note or this 5ecurity Instrument is rcturned to Lender unpaid, Lender may require that any ar all subsequent payrnents due under the Note and this Security Instrument be made in one or inore of the following forms, as selected by Lender: (a) cash; (b) monEy ard�r; (c) certi�ed check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits arc insured by a Federal agency, instrumentality; or entity; or (d) Electronic Funds Transfer. Payrnents arc deemed received by Lcnder when received at the lacation designated in the Note or at such other looation as may be designated by Lender iq accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the paymcnt or partial payments are insu�cient ta bring the Loan current. Lender may accept any payment or partial payment insu�cient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to rcfuse such payment or partial payments in tha future, but Lender is not obligated to apply such payments at the time such payrnents are accepted. If each Periodic Payment is applied as aF its scheduled due date, then Lender need nnt pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan cunent. If Borrower does not do sa within a reasonable period af time, Lender sh�ll eichcr apply such funds or rcturn them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately priar to foreclosure. No offset or claim which �orrnwer might have naw or in the future against I.ender shall relieve Borrower from making payments due under the Note and this Security Tnstrument or performing the covenants and agreements secured by this Secwity Insmiment. 2. Application of Payments ar 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 Note; (c) amounts due under Section 3. Such payments shall be applied to each T'eriodic Payment in the order in v�vhich it becams due. Any remaining amounts shall be applied first to late charges, second to any other arnnunts due under this Security 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 delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received frorn Bqrrpwer 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 onc or more Periodic Fayments, such cxcess may be applied ta any late charges duc. Valuntary prepayments shall be applied �rst to any prepayment charges and then as described in the Npte. Any application of payments, insurance proceeds, or Miscellaneous Pmceeds to principal due under the Note shall not extend or postpone the due date, or chan,ge the amount, of the Periodic Payments. 3. Fundx t'or Escrow Items. Borrower shall pay ta Lender on the day Periodic Fayrnents are due under the Note, until the Note is paid in full, a sum (thC "Funds") to provide for payment of arnounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or graund rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) NEBRASKA--Singlc Family—Fannle MaelFreddk Mpc UNIFORM'11VSTRUMENT � 338.2 Page 3 of 12 Form 30181/Ol :�.�� r. � r �