201107368 - Laserfiche WebLink

Browse

20110736� BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower wazrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for narional use and non-uniform covenants with limited variations by jurisdiction to consritute a uniform s�urity instrument covering real property. Uniform Covenants. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Bonower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment chazges and late charges due under the Note. Bonower shall also pay funds for F,serow Items pursuant to Se�tion 3. Payments due under the Note and this Security Instr�hment shall be made in U.S. currency. However, if any ch�k or other instrument received by Lender �s payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require th,at any or all subsequent payments due under the Note and this S�urity Instrument be made in one or more oif the following forms, as select� by Lender: (a) cash; (b) money order; (c) certified ch�k, bank che,�k, trea�urer's check or cashier's ch�k, providerl any such check is drawn upon an institution whose deposits are ins�ired by a federal agency, instrumentality, or entity; or (d) IIearonic Funds Transfer. � Payments are deemed received by Lender when raceived 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 retum any payment or partial payment 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 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 apglied as of its schedul� due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payments to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied eatlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Bonower might have now or in the future against L,ender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Se�urity Instrument. 2. Application of Payments or Proceeds. Fxcept as otherwise describecl in this S�tion 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 S�tion 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 Insttument, 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 charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment 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 Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. NEBRASKA-S(ngle Famfly-Fannie Mae/Freddfe Mac UNIFORM INSTRUMENT Form 3028 1/01 VMP � VMPBItdE) (1105) Wolters Kluwer Financfal Services Page 4 of 17