201009246 - Laserfiche WebLink

Browse

201049246 BORROWER COVENAIVTS that Barrower is lawfully seised pf the estate hereby cnnveyed and has ihe right ta grant and convey the Propec#y and t�►at the PrapeRy is unencumbered, except for encumbrances 4f record. Borrower warrants and will defend generalty the title to the Property against all Claims and deman.ds, subJeet tu any eucumbrances vf record. THIS SECURITY 1NSTRUMEN 1' com6ines uniform covenants for natfonal use and non-aniform covenants with lirnited variations by ,�urisdictaon to canstitute a unifarm security inslrument cpvering re�l property. UNI�'QRM CQVENAN'C'S. Borrower and Lendcr covenasit and agree as follaws: 1. Payment of Principal� Int�srast, Esarow Itcros, Prcpaymcnt Charges, and Late Cl�arges. Barrower shall pay whe� due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due uuder the Note. $orrower sha11 also pay fumds for Escrow ltems pursuant to 5ection 3. Yayments due under the Note and this Secarity Instruraent shall be made in U.S. currency. Hvwever, if any check nr vther instrument received by Lender as payment under lhe Note or tt�is SeCurity inst�umsnt is returned to Lender unpaid, Lender may rec�uire that any or all s�bsequent payments due under lhe Note and this Security Instrumeni bc made in one or mare af the followin� forcns, as selected by Lender: �a) cash; (b} money nrdar; (c) certified check, bank check, treasurer s check or cashier's check, provided any Such checic is drawn upvn an institution whose deposils a�e insured by a federal agency, instrumentality, or entity; nr (d) Eleclronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may 6e designated by Leader in accordance with the nodce pro�lsians in Sectian 15. Lender may return any paym,ent ox pardal payment if the payment or partial paymenls are Iusufficient ta bring lhe L.nan current. Lender may accept any payment or partial paymenk insufficient to bring the L,aan current, withaut watver af any rights hereunder or prejudice tu its rights ta refuse such payment or partial payments in Ihe future, 6ut Lender is not obligated to apply such payments at the time such payments are accepted. If each Pe�i�dic Fayment is applied as of its scheduled due date, then Lender need npt pay interest an unapplicd funds. Lender rrwy hold such unapplied funds until Borrower makes payment to bring the �.aan current. If Bprcower does not do so within a reasonable periad of time, Lcnder shall etther apply such funds or return them to Borrower. If not applied earlier, such funds will be applied tv the outstanding principal 6alance under the Nate immediately prior to fareclosure. Na oifset or claim which Barrawer might have now or in the future against Lender shall relie�e Borrower from making payments due under the 1Vote and this 5ecurity Instrument or performing the cavenants and agreemenls secured by ihis Secvrity Inswmenl. 2. Application of Paymemts or Praceeda. Except as olherwise described in this Ssct�on 2, all payrnents accepted and applied by Lender s1�alI be applied in the following order of priority: {a) interest due under the Nate; (b) prinp'pal due under the Note; (c) amounts due under 5ection 3. Such payments shaq be applled to each Periadic Payment in the order in whieh it became dae. Any cernaining amaunts shal! be applied first to laie charges, second ta any other ar�aunts due under this Security lnstrument, and then W reduce lhe principal balance of the Noie. If Lender receives a paymenl from Borrawer far a delinquenl Periodic Fayment which Includes a su�ficleni amuunt tu pay any late charge due, the payment may be applied tn the delinquent payment and the late charge. If rnore than one Periodic Payment is autstanding, Lender may apply anypayment received fram Borrawer to the repayment uF 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 ane ar more Periodic Payments, sueh excess may be appliecl ta any late charges due. Voluatary prepayments shall 6e applied Crsl ta any prepayment charges and then as descr9bed in 1he Nate. Any application of payments, insurance proceeds, pr Misce[laneous Froceeds io pcincipal due under the Note shall not extend or pvstpone the due date, or change the amaunt, of the Pertodie Payments. 3. F�unds Por B�row Itan9. Borrower shall pay t� Lender on thc day Periadic Payments are due uader the Note, until the Note ispaid in full, a sum (the "Funds") lo pravide for payment of amonnts due for: (a) ta�ces and assessments and vther items which can attain prio�ity over this Security Insirument as a lien or encumbrance on ihe Froperty; (h) leasehold payroenls or ground rent� an the Property, if any; (c) prem9ums for any and all insurance requlred by Lender under Secdon 5; and (d) Mortgage [nsurance 001122289352 �Cit�iortgige 3.2.42.p7 V5 N�RASIG4 - Single Family - Fennis MaefFreddie Mac IJNiFOfi�l INSTRIlMENT _ M9� ��A(Nq caeiof r.gc a��s i,,;� G Pr 1' Fortn 8028 1/Q1