201100229 - Laserfiche WebLink

Browse

2osioo�29 THIS S�CURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNTF ORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal af, and interest on, the debt evidenced by the Note and any prepayment charges and late char�es due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U. S. currency. However, 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 due under the Note and this Security Instrument be made in one or more of tk�e following forms, as selected by Lender: (a) cash; (b) xnoney order; (c) certified check, 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, instrurnentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the Ipcation 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 payment or partial payment if the payxnent or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payrnent insufficient to brin�; the Loan current, without waiver of any rights hereunder pr prejudice to its rights to refuse such payrnent or partial payments in the Future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodac Payment is applied as of its scheduled due date, then Lender need not pay interest on unappli�d funds. Lender may hold such unapplied £unds until Borrower malces payments to bring the Loan current. If Borrower does not do so within a reasanable period of time, Lender shall either apply sucla funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall r�lieve Borrower fram making paymez�ts due under the Note and this Security instrument or performing the cavenants and agreements secured by this Security Instzument. 2. Application of Payments or Proceeds. Except as otherwise described in this S�etion 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 5ection 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts 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. lf Lender receives a payment from Barrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payrnent and the late charge. If more chan one I'eriodic Payxnent is outstanding, �,ender may apply any payrnent received from Borrower 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 one or more Feriodic 1'aym�nts, such excess may be applied to any late charges due. Voluntary prepayrnents shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellazxeaus Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payznents. 3. Funds for Escrow Items. Borrower shall pay ta Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of aznounts du� far: (a) taxes and assessments and other items which can attain priority over this Security Tnstrumeztt as a lien or encumbrance an the Property; (b) leasehold payments or ground rents on the Froperty, if any; (c) premiums for any and a11 insurance required by Lender under Section 5; and (d) Mortgage Insurance C 231038 NEBRASKA - Single Family - Fannie Mae/Freddie Mac UNIFORM IN5TRlIMENT �-6�NE) �oeii� Page4 of 15 iniiiais: � orm 3028 1101 �