|
201i08105
<br />BORROWER COVENANTS tUat Bonower is lawfully seised of the estate hereby conveyed and has the
<br />right to grant and convey the Property affil that the Progerty is uaencumbered, except for encumbrances of record
<br />Borrower warrants aad will defend generally the title to the Progerty against all claiu�s and demands, subje,ct to
<br />any encumbrances of record.
<br />T�IIS SECURITY INSTRUAgENT combines uniform covenants for national use and non-uniform
<br />coveaants with limited variatioas by jurisdiction to constitute a uniform security iastrument covering real
<br />PI'�P�Y-
<br />17NIFORM COVENANTS. Barrower and Lender covenant and agree as follows:
<br />1. Payment of Principal, Intereat, Escrow Items, Prepayment Charges, and Late Charges.
<br />Borrower shall pay wh� due the principal af, aad interest on, the debt evidenced by the Note and any
<br />prepayment charges and late charges due under the I�Tote. Borrower shall also pay funds for Escrow Ite�
<br />pursuant to Section 3. Paymeats due under the Note and this Security inctr��mP�t shall be made in U.S. currency.
<br />However, if any check or other instru�nt received by I,ender as payment under the Note or this Security
<br />Instrument is returned ta Lender unpaid, Lender may require that any ar all subs�uent payu�nts due under the
<br />Nate and this Security Instnunent be �de in oae or more of the follow�ng fom�s, as sele�ted by Leader: (a) cash;
<br />(b} money order; (c) certified ch�k, bank check, treasurer's check or cashier's check, provided any such
<br />check is drawn upon an institution whose depasits are insured by a federal agency, instrumentahty, or enhty; or
<br />(� Electronic Funds Transfer.
<br />Paymen#s are d�med received by Lender when received at the location designated in the Note or at such
<br />other locatioa as �y be designated by Lender in accordance with the notice provisions m Section 15. I.ender
<br />may return any payinent or partial gayment if the gayment or partial payments are insufficient to bring the Loan
<br />current. Leader may accept any payment or partial payment insufficient to bring the Loan current, v�nthout waiver
<br />of any rights hereunder or prejudice to rts nghts to refiase such payment or gartial payments m the future, bnt
<br />Lender is not obligated to app1y such payments at the time such pa�+ments are acxepted. If each Periodic Payu�nt
<br />is agglied as of its sch�iuled due daYe, then Lender need not pay mterest on unappheil funds. Lender may hold
<br />such unapplied funds until Botrower makes pay�nt to �the Loan current. If Borrower d�s not do so within
<br />a reasanzble period of time, Lender shall either apply suc funds or return them to Borrower. If not appiied
<br />�rlier, such fiznds will be applied to the outstanding principal balance under the Note immediately prior to
<br />for�l�ure. No offset or claim wluch Borrower might have now or in the future agaiast Lender shall relieve
<br />Bormwer from �.kin� payments due under the Nate and this Security Iustniment or perfanning the covenants
<br />and agreements secured by this Security Insirument.
<br />2. Applicataon of Paymenis or Proceeda. Except as othenvise descnbed in this Section 2, all
<br />�.yments accepted aad applied by Lender shall be applied in the following order of priority: (a) interest due under
<br />the Nate; (b) pnncipal due �mder the ATote; {c) amounts due under Secrion 3. Such pay�nts sha11 t�e applied to
<br />each Periodio Payment in the arder in which it b�ecau� due. Any remaining auiounts sha11 be applied first to late
<br />charges, secoad to any other amounts due under this Security Instrument, and then to reci�ace the grincipal balance
<br />of the Note.
<br />If Lender rec�ives a payment from Borrower for a delinquent Periodic Payment which includes a
<br />sufficient amount to pay any late charge due, the payment may be applied to the delinquent pay�nt and the late
<br />charge. If more than one Periodic Payment is outstanding, Lender �y apply any payment received from
<br />Borrower to the repa}nnent of the Periaiic Pay�nts if, and to the extent that, �ch payment can be paid in full_
<br />To the e�ctent that any exc�s eicists after thepayment is applied to the full payuient of one or more Periodic
<br />Payments, such excess �y be applied to any late charges due. Voluntary prepayments shall be applied first to
<br />any prepayment charges and then as described in the Note.
<br />Any application of pay�nts, insurance proceeds, or Miscellaneous Pr�eeds to principal due under the
<br />Note sha11 not extend or postpone the due date, or change the amoimt, of the Periodic Payments.
<br />3. Fnnds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due
<br />under t3�e Note, until the Note is paid in full, a sum (the "Funds'� to provide for payment of amounts due for: (a)
<br />taxes and assess�nts and other items which can attain priority over this Security Instruu�nt as a lien or
<br />encumbrance on the Propei#y; (6) leaseholdpay�nts or ground rents on the Properiy, if any; (c) premiums for
<br />any and all insurance reqmred by Lender under Sect�on 5; and (d) Mortgage Insuraace prennums, if any, ar any
<br />sums payable by Barrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with
<br />the provisions of Section 10. These iteu�s are called ` Escrow Items." At originarion or at any time during the
<br />term of the Loan, Lender �y require that Cammunity Association Dues, Fees, and Assessments, if any, be
<br />escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item Borrawer shall pramptly
<br />fiunish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for
<br />Escrow Items unless I.eader waives Borrower's obligation to pay the Funds for any or all Fscrow Ite�. Lender
<br />may waive Borrawer's obligation to pay to Lender Funds for any or all Escrow IteuLS at any tiYne. Any such
<br />waiver may only be in writing. In the event of such waiver, Borrower shall pay d'uectly, when and where
<br />payable, the amaunts due for any Escrow Item� for which payment of Funds has been waived by I,ender and, if
<br />Lender requires, shall furnish ta Lender receipts evidencu'�g such payment within such time �riod as L�nder �y
<br />require. Borrower's obligation to make such payments aad to provide r�eipts shall for all putposes be deeua�d to
<br />be a covenant and agree�nt contaiaed in this Security Instru�ent, as the phrase "covenant and agreement" is
<br />used in Section 9. If Barrawer is abligated to pay Escrow Items directly, .pursuant to a waiver, and Borrower fails
<br />to pay the aanount due for an Escrow Item, I,eader may exercise its rights under Section 9 aaid pay such amount
<br />and Borrower shall then be obligated under Section 9 to repay to Lender any such ac�roimt. Lender may revoke
<br />the waiver as to any or all Fscraw Itemg at any ti� by a not�ce given in accordance with Seotion 15 and, upoa
<br />such revocation, Borrower shall p�y to Lender all Funds, and in such a�unts, that are then recluired under this
<br />S�tion 3.
<br />I.ender may, at any time, collect andhold Funds in au a�unt (a) suff'icient to permit Lender to apply the
<br />Funds at the time specified under RESPA, and (b} not to exceed the maximum amount a lender can require under
<br />RESPA Leader sha11 esti�te die amount of Funds due on the basis of current data and reasonable estimates of
<br />expenditures of future Fscrow Ite� or othervvise in accordance with Applicable Law.
<br />The Fuads shall be held ia �n institution whose deposits are insured by a federal ageacy, iasirumentality,
<br />or entity {iacluding Leader, if Lender is an institution whose deposits are so insured) or in any Federal Home
<br />Laan Bank. Lender sl�all apply the Funds to p�y the Escrow Ite� no later than the time specified �mder RE,SPA.
<br />Lender shall not charge Borrower for holding and applying the Fimds, annually analyzing the escrow account, or
<br />verifying the Fscrow Ite�, unless Lender pays Borrower �nterest on the Funds and Agplicable Iaw permits
<br />NEBRASKA—Singte Family—Faonie Mael�eddfe Mac U1�IFORM INSTRUI4IENT MaHHed Form 3Q281/Ol (page 3 of 9 pages)
<br />?2050.CV (8l11) 14-1625 Creal3ve Thinldng, I�.
<br />GOTO(002c7e7c�
<br />
|