201107507 - Laserfiche WebLink

Browse

�o��o��o� BORROWER COVENANTS that Bonower is lawfiilly seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbererl, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THI5 5ECURITY INSTRUMENT combines uniform covenants for narional use and non-uniform covenauts 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 charges and late charges due under the Note. Borrower sha11 also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is return� to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as sel�ted by Lender: (a) cash; (b) money order; (c) certified check, bank ch�k, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agettcy, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments aze d�med received by L,ender when r�eived at the location designated in the Note or at such other locarion as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments aze 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 aze accepted. If each Periodic Payment is applied as of its sch�uled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unappli� funds until �nower makes payments to bring the Loan current. If Bonower daes not do so within a reasonable period of time, Lender shall either apply such funds or return them to Bonower. If not applied earlier, 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 Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agr�ments secured by this S�urity Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this �ction 2, all payments accepted and applied by Lender shall be applierl in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it b�ame due. Any remaining amounts shall be applie� first to late charges, se�ond 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 Bortower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applie� to the delinquent payment and the late charge. If more than 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 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-Sirtgle Family-Fennie Mae/Freddie Mac UNIFORM INSTRUMENT VMP Q Wolters Kluwer Financial Services Form 3028 1/01 VMPB(NE) (110b) Page 4 of 17