|
2o�ioo4iti
<br />1111056�63
<br />with law or custom, M�RS (as nominee for Lender and Lendar's successvrs and assigns) has the right; to exercise any or all of
<br />thosc intarests, including, but nat limited to, the right to foreclose and sell the Aroperty; and to take any action required of
<br />Lender including, but not limited to, releasing and canceling this Security Instrument.
<br />BORRpWER C(]VENANTS that Borrower is lawfully seiscd of'the estatc hereby conveyed and has the right to grant
<br />and convey the Property and th�t the Aroperty is unencumbered, except for encumbrances of recard. Bvrrower warrants and
<br />wil] defend generally the title to the Property against all claims and demands, subject to any encumbrances of record,
<br />TI�I1S SECURITY INSTRUMENT combines uni�prm covenants tbr national use and nan-uniform covenants with
<br />limited variations by jurisdictian to constitute a uniform security instrument cavcring real property.
<br />UNIFQRM COVENANTS. Borrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Interest, Eacrow [tems, Prepayment Charges, and Late Charges. Horrowcr shall pny
<br />when due the principal of, and interest on, the dcbt evidenced by the Note and any prepayment charges and late charges due
<br />under th� Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Aayments due under the Note and this
<br />Seeurity Instrument sha11 bc made in U.S. currency. However, if any check or pthcr in"strument reccived by I.ender as payment
<br />under the Note ar this Sccurity Instrument is returncd to Lender unpaid, C.�nder may require that any or all subseyuent
<br />payments due under the Notc and this Securiry lnstrumcnt be made in ane ar mpre af the follawing forms, as selected by
<br />I,ender: (a) c¢sh; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such
<br />check is drawn upon an institution whose depqsits are insured by a federal agency, instrumentality, or entity; or (d) Electronic
<br />Funds 7'runsfcr.
<br />Fayrnents ar� decmed received by Lender when received at th� lacatian designated in the Note or at such vthar
<br />location as may be designated by Lender in accordanc� with the notice provisions in 5ection I S. Lendar may return any
<br />paymant or partial payment if the payrnent ar partial payments arc insufficient to bring the Loan current. Lender may acccpt
<br />any payment or partial payment insufficient ta bring th� T.oan current, without waiver af any rights hcreunder or prejudice to
<br />its rights tp refuse such paymeat or partial payments in the future, but L,ender is not obligatcd to apply such payments at the
<br />time such payments ara accepted_ If each Periodic Aayment is applicd as of its scheduled due date, then Lendcr need not pay
<br />interest on unapplied funds, Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If
<br />Borrower does not do so within a reasonable period vf time, Lender shall either apply such funds or return th4m tc� 13orrower. If'
<br />npt applied earlier, such funds will be applied to the outstanding principa) balancc under thc Note immediatcly priur tp
<br />forcclosure. No offset or claim which $orrower might have naw or in the future against Lendnr sha11 ralievc Borrower front
<br />making payments due under the Note and this Security instrument or performing the covenants and agreements secured by this
<br />Security Instrument.
<br />2. Application of P�yments nr Pro�eeds. 6xcept as otherwise describcd in this Scetivn 2, all payments Accepted and
<br />applied by Lcnder shall be applied in the following arder of priority: (a) interest due under the Notc; (b} principal duc under the
<br />Note; (c) amounts ciue under Section 3. Such payments shall be applied to each Pcriodic Payment in the order in which it
<br />became due. Any rcmaining amounts shall he applisd Grst ta Iate charges, second to any othcr amounts duc urtder this Security
<br />Instrument, and then to reduce the principal 6alancc oFthe Nptc,
<br />If L,ender receives a paymcnt from Borrower for a delinquent Periodic 'Payment which includes a sufficicnt amount to
<br />pay any late charge due, the payment may be applied to the delinquent payment and the late chargc. [f more than ane Aeriodic
<br />Payment is outstanding, Lender may apply any payment rcceived from �arrpwer to the repayment of the Periadic Psyments if,
<br />and to the extent that, cach payment can be paid in full. To thc excent that any excess exists after thc payment is applicd to the
<br />full payment of ane ar more Periodic Payments, such cxcess may he applied lo any late charges duc. Volur�tary prepayments
<br />shalf be applied first to any prepayment charges and then as described in the Note.
<br />Any application of payments, insurance pracceds, or Misccllaneous Prpceeds to principal duc under the Nate shall not
<br />extend or postpone the due date, ar change the amount, of the Periodic Payments.
<br />3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due undar the Nvte, until
<br />the Note is paid in full, a sum (the "Funds") to provide far payment of amounts due for: (a) taxes and ussessmcnts and other
<br />items which can attain priority over this Security Instrument as t� lien or encumbrance on the Prpperty; (b) leasehold payments
<br />or ground rents an the Praperty, if any; (c) premiums for any and all insurance required by Lender under Section 5; and {d)
<br />NEBRASKA--Single Famity--Fannle Mae/Freddic Mac UNIFORM IN57'KUMEN7'
<br />�f"'ry 338.2 Pagc 3 uf 12 Form 302& 1/O1
<br />
|