201105658 - Laserfiche WebLink

Browse

2o�1u5�� TRAN5FER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and a11 renewals, extensions and modif'ications of the Note; and (u) the petformance of Bonower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with' power of sale, the following .described properry located in the .BE�iI&TER.OF.Of.ERS ..................................................... of .................................................. lType of Recording Jurisdiction] . NA44 G4UNTX ... . ........ ........................... .......... . . ............ ...... . . .......: [Neme of Recording Jurisdictionl LOT 1, AND THE EAST 39 FEET OF LOT 2, BLOCK 17, ORIGINAL TOWN OF WOOD RIVER, HALL COUNTY, NEBRASKA which curtently has the address of .................................................14�� MAIN.$T................................................... [streetl ...........................�N444.�1�R............................, Nebraska ...................6�883..................... ("Property Address"): [City1 (Zip Code) TOGETHER WITH all the improvements now or hereafter erected on the �roperty, and a11 easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and addittons shall also be covered by this Security Instrwnent. All of the foregoing is refened to in this Securiry Instrument as the "Property." BORRpWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Progeriy and that the Property is unencumbered, except for encumbrances of record. Borrower war�ants and will defend generaily the title to the Properly against a11 claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMEN'I' combines uniform covenants for national use and non uniform covenants with limited variations by jurisdiction to constitute a uniform securiry instrument covering real property. UNIFORM COVENANTS. Bonower and Lender covenant and agree as follows: 1. Payment of Prindpal, Interest, Escrow Items, Prepaytnent Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Securiry Instrument shall be made in U.S. currency. However, if any check or other instrwnent 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 gayments due under the Note and this Securiry Instrument be made in one or more of the f�llowing forms, as selected by Lender: (a) cash; (b) money order; (c) certif'ied check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose de�sits are insured by a federal agency, instrumentaliry, or entity; or (d) Electronic Funds Transfer. Payments are deemecl received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial �ayment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or pre�udice to its nghts to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments aze accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Lc�an current. If Borrower does not do so within a reasonable period of time, Lender sha11 either apply such funds or return them to Borrowet. If not applied earlier, such funds will be applied to the outsta.nding principal balance under the Note immediately prior to foreclosure. No offset or claim wluch Bonower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this 5ecuriry Instrument or performing the coveaants and agreements secured by this 5ecurity ,Instrument. 2. AppHcaHon of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of prioriry: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under 5ection 3. Such �ayments shall be applied to each Periodic Payment in the order in which it became due. Any rema.inung amounts shall be applied �rst to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late chazge due, the payment ma.y be applied to the delinquent payment and the late charge. If more than one Periodic Pa.yment is outstanding, Lender may apply any paymem received from Bonower 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 Penodic Payments, such excess may be applied to any late charges due. Voluntary prepayments sha11 be applied �rst to any prepayment cha.rges an,d then as described in the Note. Any applicaxion of payments, insurance' proceeds, or Miscellaneous Proceeds to principal due under the Note sha11 not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Bonower 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 provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this 5ecurity Instrument as a lien or encumbrance on the Pro�rty; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insuranee premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed b� Bonower, and such dues, fees and assessments shall be an Escrow Item. Bonower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Bonower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Fscrow Items. Lender may waive Borrower's obligation to �ay to Lender Funds for an� or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower sha11 pay d�recfly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such �ayments and to provide receipts sha11 for a11 purposes be deemed to be a covenant and apreement contained in this Secunty Instrument, as the phrase "covenant and agreeanent" is used in Section 9. If Borrower �s obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower NEBRASKA—Single Family—Fannie Mae/FreddPe Mac UNIFORM INSTRUMENT Form 3028 1l01 Bartkers Systema, fnc., St. Claud, MN Form MD-i-NE 8/f 712000 (pnge 2 of 7pYtgeS) �