201107697 - Laserfiche WebLink

Browse

201107697 BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed tmd has fhe right to grant and eonvey the Property and that the Properry is unencumbered, except for encumbrances o['racord. Borrower warrauts and will defeud generally the title to thc Property againsl all claims and demaods, subject to nny encumbrances of rewrd. THIS SECURITY INSTRUMENT combines uni�faxm covenants for national use and non-uuiform covenai�ts witl� limited variations by jurisdiction To constitute a uniForm security instiument coveruig renl proper[y, Uniform Covenants. Borrower and Lender covcnanf and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due Uie principal of, and interest on, the de6t evidenced by the Note and auy prepayment charges and late charges due under Yhe Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3, Payments due under the Nofe and tl�is Security Instruii7enC shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or tliis Securiry Instmmevt is returned to Lender unpaid, I.ender may require ChaC any or all suUsequent payments due undor the NoCe and this Security InstrumenC be made in one or more of the following forme, ad selected by I.ender: (a} cash; (b) money order; (c) certified check, Uank check, treasurer's cheek or cashier's check, provided �ny such eheek is drawn upon an institutiov whose deposits are insured by a Cederal agency, instrumentality, or enCity; or (d) Slectronic Fimds Transfer. Payments are deemed received by Lender when received at[he location designaCed in [he Note ar at sueh oCher location as may be designated by Lender in accordance with Ihe notice provisions in Section 1S, Lender may return auy payment or partial paymenC il Che paymene or partial paymenYS are insuf�cient to bring the Loui curreut. Lender may accepe any payment or partiaJ payment insufficiei�t to bring the Loan cu�rent, without waivcr of any rights hereunder or prejudice to its rights [o refuse sucl�pnyment or partial payments in Che future,but L,endec is not obligated to apply such paymente at the time such paymen[s are accepYed. If each Periodic Payment is applied as of its scheduled due daCe, lhan Lender need not pay interesY on unlpplied funds. Lender may hold such unapplied funds until Borrower makes paymenCS ko bring d�e Loan current. IP Borrower does not do so within a reasonahle period of time, I,ender shnll either apply such funds or rcturn fhem to Borrower. If not applied earlier, such fimds will Ue applied to the outsWnding principal balanee under Che Note iirunedlate�y prior to foreclosure. No offset or claim which Borrower mighC have now or in the future againsC Lendex shall relieve Borrower from making payme�its due nnder the Note and this Security Instrument or performing the eovenanCS and agreements secured Uy this Security InsCrumenC. 2. Application of Payments or Proceeds. Except as othexwise descxibed in this Section 2, all payments accepted and applied hy Lender shall be applied in the following order uf pritirity: (a) intcrest due under the NoCe; (b) privcipal due under the Note; (c) a�nounts due under Section 3. Such paymenta shall be applied fa eacli Pe�iodic Payinei�t in the order in whicli iC becune due. Any remaining amounCS shall be applied first to late charges, second Co any oChar amounts due under Yhis SecuriYy ffistrument, and then to reduce the principal balance of the Note. If Lender receives a paymene from Borrower for a delinquent Periodic Payment which includes a suffioicnt amount Co pay any late charge due, the payment may be applied to the delinqueut payment and the lafa charge. If more than one Periodic Payment is outst2nding, Lender may apply any paymenC reccivcd from Borrower Co Uie repayment of tl�e Periodic Payments if, and to the exCenC ChaC, each payment can l�e paid in full. To tlie exteut tliat any excess exists after the paymenC is applied to the full payment nP one or more Pariodic Paymeuts, such excess may be applied to any late charges due. Voh�ntary prepnyments sliall be applied first Co any prepayment cltarges and then as descriUed in the Note. 23118� NEeRFlSKA-Sin�le Femily-Fannie MaefFred�lle Mac UNIFORM INSTRUMENT Form 302A 1I01 VMP� VMP6�NEj 111061 Woltore Kluwer Finanoial Servlces � Paye h of I J