Laserfiche WebLink
20�103�71 <br />THIS SECURIT Y 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. Bonower and Lender covenant and agree as follows: <br />1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Bonower shall <br />pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late <br />charges due under the Note. Bonower shall also pay funds for Escrow Items pursuant to Section 3. Payments due <br />under the Note and this Security Instrument shall be made in U. S. currency. However, if any check or other <br />instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, <br />Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in <br />one or more of the following forms, 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 institution whose deposits are insured <br />by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. <br />Payments are deemed received by Lender when received at the location designated in the Note or at such other <br />location as may be desi�nated by Lender in accordance with the notice provisions in Section 15. Lender may return <br />any payment 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 Loan current, without waiver of any rights <br />hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not <br />obligated to apply such payments at the time 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 payment to bring the Loan current. If Bonower does not do so within a reasonable period of <br />time, Lender shall either apply such funds or retum them to Bonower. If not applied earlier, such funds will be <br />applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim <br />which Bonower might have now or in the future against Lender shall relieve Bonower from making payments due <br />under the Note and this Security Instrument or performing the covenants and agreements secured by this Security <br />Instrument. <br />2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments <br />accepted and applied by Lendet shall be applied in the following order of priority: (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 Security 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 suff'icient <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 Payment is outstanding, Lender may apply any payment received from Borrower to the <br />repayment 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 Periodic Payments, such excess may <br />be applied to any late cha.rges due. Voluntary prepayments shall 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 or postpone the due date, or change the amount, of the Periodic Payments. <br />3. Funds for Escrow Items. Bonower 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 over this Security Instrument as a lien or encumbrance on the <br />Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance <br />required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Bonower <br />to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. <br />These items are called "Escrow Items. " At origination or at any time during the term of the Loan, 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. Bonower shall promptly fumish to Lender all notices of amounts to be paid <br />under this Section. Bonower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's <br />obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower' s obligation to pay to Lender <br />Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, <br />Bonower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of <br />Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment <br />within such time period as Lender may require. Bonower' s obligation to make such payments and to provide receipts <br />shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase <br />"covenant and agreement" is used in Section 9. If Bonower is obligated to pay Escrow Items directly, pursuant to <br />a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section <br />9 and pay such amount and Bonower shall then be obligated under Section 9 to repay to Lender any such amount. <br />Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section <br />15 and, upon such revocation, Bonower shall pay to Lender all Funds, and in such amounts, that are then required <br />under this Section 3. <br />Lender may, at any time, collect and hold Funds in an amount (a) sufficient to pernut Lender to apply the Funds <br />at the time specified under RESPA, and (b) not to exceed the maxunum amount a lender can require under 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 Items or otherwise in accordance with Applicable Law. <br />NEBRASKA—Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS DocMag/c� <br />Form 3028 1/01 Page 3 of 11 � www.docmaglc.com <br />! <br />Ne3028.mzd.a�l <br />