201105617 - Laserfiche WebLink

Browse

20�f056�� BORROWER COVENANTS that Bonower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Properiy is unencumbered, except for encumbrances of record Borrower warrants and will defend generally the title to the Propefiy against all claims and demands, subject to any encumbrances of record. THIS SECLTRITY INSTRUMENT combines uniform coven�ts far national use and non uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Bonower aad I.ender cavenant and agree as follows: 1. Payment of Prindpal, Interest, Escrow Items, Prepapment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidence� by the Note and any prepayment charges and late charges due under the Note. Bonower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Inst�ument shall be made in U. S. currency. However, if aay chec;k or other instrument r�eived by Lender as payment under the Note or this S�urity Instrument is returned to Lender unpaid, Lender may require that any or all subsequent PaY�� due under the Note and this Seeurity Instrument be made in one or more of the following forms, as selected by I,ender: (a) cash; (b) money arder; (c) certifie� check, bank che�k, tre,asurer's che�k or cashier' s cherl� provided any such check is drawn upon an institurion whose deposits are insured by a federal agency, instrumentality, or eirtity; ar(d) Electronic Funds Transfer. Payments are d�med r�eived by Lender when received at the loc�tion designated in the Note or at such other location as may be de4ignated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or paztial payment if the payment ar partial payments are insufficient to bring the Loan ciment. Lender maY �Pt �Y Payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder ar prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is a�plieri as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unappliad fimds until Borrower makes payment to bring the Loan current If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or retum them to Bonower. If not applied earlier, such fimds will be applied to the outstanding principal balance under the Note immediataly prior to foreclosure. No offset or claim which Borrower might have now or in the firttue against Lender shall relieve Bonower from making payments due under the Note and this Security Instrume�t or performing the covenants and agreements secured by this Security Instrument. 2. Application of PaVments or Proceeds. Except as otherwise descrihed in this Section 2, all payments accepted and apphed by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) Principal due under the Note; (c) amaunts due under Se�tion 3. S�ch payments shall be a�plied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, s�ond to any other amounts due under this Security Inslrumeut, and then to reduce the principal balance of the Note. If Lender r�eives a payment from Borrower for a delinquent Periodic Payment which ineludes a sufficient amount to PaY �Y late charge due, the payment may be applied to the delin4uent PaYm�t and the late chazge. If more tban one Periodic Payment is outstanding, Lender may apply any payment received from Bonower to the repayment of the Periodic Payments if, and to the extent that, each payment c�n be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be appli� first to anY P�P$Ymffit charges and then as descnbed in the Note. Any applic�tion of payments, insurance proceeds, or Miscellan�us Procee�s to principal due unde� the Note svall nat extend or postpone the due date, or change the amownt, of the Periodic Payments. 3. ltinds for Eacrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provida for payment of amoimts due for: (a) tax� and ass�sments and other items which c�n attain priority over this Se�urity Instnrment as a lien or encumbrance on the Properly; (b) leasehold payments ar ground rents on the Properiy, if any; (c) premiums for any and all insurance required by Lender under Sechion 5; and (c� Mortgage Insurance 2200i29581 n v61� NEBRASKA - Single Fam1y - Fannle Mae/Fr�dl� Mac UNIFORM INSTRUM9dT ^�� �j-6A(Nq toe�oJ PaBe 4 of 16 i� Form 3028 7/07 �